Why would anyone love their credit union? The same reason people love their hairdresser, daycare provider or really terrific neighbor. It’s all about the relationship that starts when you first meet and grows deeper over time.
We live in a time where financial institutions often prioritize profit over people, but my credit union offers banking services with something extra special. It’s more of a financial partnership where we work together to constantly improve my financial well-being. The relationship is one I can rely on, similar to the way I would rely on the person caring for my children. There is a level of trust that builds over time. I know my credit union wants me to be successful, to live within my means, and to live a life without worry. There is a reason the credit union motto is “people helping people”. Whether I’m talking to a loan officer or a teller, I know there is a person behind the title, and that person cares about providing the best possible outcome in every interaction we have.
Here are a few reasons why I love my credit union:
- Lower Fees and Better Rates: Who doesn’t love more money in their pocket?
- Member-Owned Structure: Every member is an owner, not a customer. All decisions come from people who are members themselves, from the volunteer board of directors to the highest paid member of the staff.
- Personalized Service: When you are working with someone who wants to show you respect and treat you as a valued member-owner, it makes a difference.
- Community Involvement: Credit Unions give back to the communities they serve in both direct and indirect ways. They support local events, charities, and initiatives, but even more important is helping a member get back on their feet after a setback, or educating a young person on the ways they can improve their credit so one day they can own their first car or their own home.
- Financial Education: Credit Unions want every person to be successful. They share their knowledge through teaching, giving presentations at no cost to local groups, and providing individual financial counseling services at no cost to the member.
- Democratic Governance: The members have a vote on the way their credit union is run. Members elect the board of directors and can provide input on key decisions impacting the lives of all members and the communities they serve.
- Better Loan Approvals: If you have less-than-perfect financial circumstances, credit union staff are there to help you, not judge you. Credit unions will stay true to their commitment to be a financial partner, not just when life is going great, but more importantly, when life throws a curve ball.
- Not for profit, not for charity, but for service: Credit unions exist to serve. Their mission, and existence is expressly tied to serving the underserved and providing financial well-being for all.
Imagine a world where everyone you interacted with was interested in making your life better. Everyone you talk to wants the best outcomes for your future. If anyone saw you struggling, they took the time to lift you up, give you hope, and set you on a better path. Imagine being part of that world…the world of credit unions. We celebrate the cooperative spirit on “Love My Credit Union Day”, but I love my credit union EVERY day because it isn’t just a financial institution, it’s a vital part of my financial well-being and my community.