Exciting news for CUs! (Hey, that rhymes.)
Credit unions have reached 100 million memberships nationwide! That’s one in every three Americans!
“There is clearly a growing recognition about credit unions among consumers,” said Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues, the trade association for credit unions in both states. “They understand credit unions place their interests above all else, particularly in returning financial benefits to consumer members in the forms of lower rates on loans, higher returns on savings, and lower and fewer fees.” In 2013, those financial benefits totaled more than $6 billion.
As cooperatives, credit unions are owned by their members and exist to provide financial services to those members. Its structure—as not-for-profit, democratically led and cooperatively owned financial institutions–allows credit unions to maintain a focus on returning financial benefits to members. This has led to credit unions earning the satisfaction and trust of their existing members. 2.85 million joined between June 2013-June 2014!
We think this calls for a quick flashback to our roots and how far we have come. Last year we had the privilege of interviewing Jack Dunn, one of our founding members and first President. Not only are Jack and his wife the greatest of people, but what they have to say is pretty interesting if you have a minute…
We wish we could bring cake and balloons to each and every one of you in celebration of credit unions, members like you, and all you’ve done to share the word about credit unions. Alas, we cannot. BUT sometimes we do have Member Appreciation Days so be on the lookout! Thank you for your membership. We’re so glad you belong.
If you aren’t a credit union member yet, you can find out more about credit unions and find one in your community here: http://www.weownourbank.com/Share: