Credit Unions: A Credit to our Community
Why YOU can be proud to be a credit union employee
You work for a credit union; not a bank. Because credit unions are not-for-profit financial cooperatives, we don’t profit from our members in the same way that banks do from theirs. At the same time, we offer the same services as banks, such as savings and checking accounts, debit/credit cards, IRAs, and mortgage services, to name just a few. In stark contrast to this, banks are for-profit businesses that must make money for their shareholders.
CUs are not-for-profit institutions. Our members are also our owners. This means that we don’t profit from our members; earnings are actually returned to members through lower loan rates, higher interest on deposits, and lower fees.
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Include your credit union’s rates and fees. If you have comparisons to local banks, show that here.
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Did you return dividends to members? Build a new branch? Put an ATM in an area that didn’t have one before? Include that here.
As an employee, you are serving your community. A “people-first” philosophy is core to the mission of all credit unions. This is demonstrated through our involvement in the communities we serve, the charitable activities we sponsor, and the public service in which we engage.
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In 2005, Missouri credit unions raised more than $300,000 for the Children’s Miracle Network through the Credit Unions for Kids campaign.
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Insert other examples of charitable activities, including giving targeted at local communities. (Examples: Toys for Tots, Meals on Wheels, Habitat for Humanity, etc.)
We serve others, not ourselves. Another way credit unions benefit the communities in which they serve is through outreach to underserved populations. In many cases, this outreach comes in the form of financial literacy education, credit counseling, and offering special assistance to low-income members.
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Include examples of programs, such as BALANCE, Get Checking, financial education in schools – including tutoring or Partners in Education, identity theft seminars, etc.
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