You may have seen images like this recently and wondered, “what’s the story?”
In short? Credit unions around the country are teaming up to help people see the credit union difference. Did you know that most of us in America still don’t know about credit unions – and many who do think they’re not allowed to join one?!
Helping people discover the credit union difference
Around the world, credit unions and financial cooperatives are literal lifesavers. They help rebuild communities in dire need of help. They allow families to begin saving, afford healthcare, and gain financial independence.
In the US overall, we are fortunate to live more comfortably and have more money-growing opportunities available to us. Many of us are able to choose which financial institution we want to place our money in, or even split our funds among multiple institutions.
This movement is a reminder for us to be intentional about where we put our money. While banks and credit unions provide many of the same services, a few key differences keep popping up:
- When Unitus employees helped teach high schoolers the crucial money-management skills they will need but will never learn in school, we were only able to do that because we are a credit union. As a credit union we pour all of our profits back into our members and our community. Banks send their profits to a group of shareholders we will probably never see.
- When we upped our Go Savings rate to a wild 3.00%APY*, banks simply couldn’t compete. That’s not because we are better than they are. It’s because our whole purpose as credit unions is to give back to our members and theirs simply isn’t. We prioritize different things. We prefer to put people over profits.
- When a team of Unitus employees got together with SOLVE to clean up our Waterfront downtown (to pick one example), it was just another day at the office. That would have been a much rarer occurrence for most banks, who seek to maximize profits over giving to the community. While there are certainly examples of banks who give generously, their model simply doesn’t allow for regular pro-social work like this.
Our President/CEO Steve Stapp put it well: “…families throughout America deserve the opportunity to experience how life can be when their financial institutions exist to serve them, not the other way around. We’re here to raise up local communities throughout America, giving everyone – not just the wealthy few – a chance to thrive. The time is now to spread the word!”
We ask you, our members: Why do you love your credit union?
If you want to get involved in our movement, tell the people in your life who are missing out on those things that make credit unions special to you. Maybe it’s the uncommon level of service and personal care. Maybe it’s the better rates. Maybe it’s the societal benefit. Whatever it may be for you, we say, go forth and open their eyes!
Posted By: Jacob Schnee
About the Author: Jacob joined Unitus as Marketing Specialist in March 2015 and transitioned to Marketing Communications Specialist in March 2017. His experience has spanned hospitality, business development, consulting, and marketing in various industries along the east coast, west coast and in between.
When he is not developing internal and external communications for Unitus, he is engaging in recreational fitness, studying personality types and exploring the outdoors with his wife, dog, and baby.