From the Executive Staff
International Credit Union Day is Today
If I could proclaim one thing to the world on this day, it would be this: we are a not a bank
Today is International Credit Union Day. On the same Thursday every October, credit unions around the world join together to celebrate the spirit of the credit union movement.
If I could proclaim one thing to the world on this day, it would be this: we are a not a bank. We do not issue stock. We do not have customers. We do not pay our board of directors.
We are not a bank.
Verity Credit Union is a democratic, member-owned financial cooperative. As a cooperative, we serve a limited field of membership. You can join our credit union only if you live or work in the state of Washington. Each member, regardless of account size in the credit union, may run for the board and cast a vote in elections.
I like what the World Council of Credit Unions, writes about credit unions:
Credit unions exist to serve their members and communities. As not-for-profit cooperative institutions, credit unions use excess earnings to offer members more affordable loans, a higher return on savings, lower fees or new products and services. They serve members from all walks of life: the wealthy and affluent, the poor and disenfranchised, and everyone in between.
Credit unions are safe, convenient places to access affordable financial services. Credit unions offer a full range of financial services, giving members greater flexibility to meet their individual needs. In some countries, credit unions are known by different names to better express those services. In Afghanistan, for example, credit unions are called Islamic investment and finance cooperatives (IIFCs) to comply with Islamic lending practices; in Africa, they are known as savings and credit co-operative societies (SACCOs) to emphasize savings before credit. There are over 49,000 credit unions in 96 countries serving more than 177 million members.
We are a part of this movement. As a cooperative our strength is increased by our membership. Consider telling five people you know how credit unions are different. Joining a credit union in 2008 may be one of the most important decisions someone can make to increase their financial security.
We are not a bank. We are Verity Credit Union.
If I could proclaim one thing to the world on this day, it would be this: we are a not a bank. We do not issue stock. We do not have customers. We do not pay our board of directors.
We are not a bank.
Verity Credit Union is a democratic, member-owned financial cooperative. As a cooperative, we serve a limited field of membership. You can join our credit union only if you live or work in the state of Washington. Each member, regardless of account size in the credit union, may run for the board and cast a vote in elections.
I like what the World Council of Credit Unions, writes about credit unions:
Credit unions exist to serve their members and communities. As not-for-profit cooperative institutions, credit unions use excess earnings to offer members more affordable loans, a higher return on savings, lower fees or new products and services. They serve members from all walks of life: the wealthy and affluent, the poor and disenfranchised, and everyone in between.
Credit unions are safe, convenient places to access affordable financial services. Credit unions offer a full range of financial services, giving members greater flexibility to meet their individual needs. In some countries, credit unions are known by different names to better express those services. In Afghanistan, for example, credit unions are called Islamic investment and finance cooperatives (IIFCs) to comply with Islamic lending practices; in Africa, they are known as savings and credit co-operative societies (SACCOs) to emphasize savings before credit. There are over 49,000 credit unions in 96 countries serving more than 177 million members.
We are a part of this movement. As a cooperative our strength is increased by our membership. Consider telling five people you know how credit unions are different. Joining a credit union in 2008 may be one of the most important decisions someone can make to increase their financial security.
We are not a bank. We are Verity Credit Union.
Brian Crouch on November 4th, 2008 at 02:42 PM
Love it. I remember in college conducting some research into why some communities avoided banks. There were social and logistics issues, which led to far too many people using check-cashing places (the ones with exorbitant fees). Credit unions are one institution that was able to interrupt the pattern, many times founded by community leaders.