Matanuska Valley Federal Credit Union’s Post

Outsiders to the credit union industry can often see the impact credit unions have on their communities better than those in the industry can. Chip Filson details a few of those examples that spotlight credit unions that are truly serving their communities.https://https://lnkd.in/gzNZJctg

Both systemic and structural…

Get to know Suffolk Credit Union! Generations of Long Islanders trust us to guide them toward their financial goals. Wondering what makes our credit union different? We're interested in helping people prosper. Our team members are your neighbors, so we're all invested in making life better around here. And as a credit union, we're a not-for-profit, owned by members like you, which means you benefit from lower rates on loans and higher rates on savings products. You're the focus, not a group of shareholders. And that just scratches the surface. Real Easy. We’re more ahh and less ugh. A place that’s easy to do business with and easy to love, our streamlined processes, intuitive technology, convenient access, and wide variety of customizable products save time, reduce hassle, and make banking a breeze. Real Valued. A trusted advisor, we deliver personalized advice that makes members feel valued. By actively listening to our membership & empowering employees to solve needs quickly, we are able to deliver objective, thoughtful guidance that’s grounded in expertise. Not only that, we deliver great rates that grow both money and people. Real Respectful. By treating people with dignity and respect, being open and honest, and doing everything in our power to say yes (while just saying no to nickel and diming), we elevate what it means to be a friendly, ensuring loyalty isn’t just a program, it’s a way of life.

Announced at the end of March, Cascade Community Credit Union received top rankings through the nationally recognized S&P Global Market Intelligence list, ranking as the #1 Credit Union in Oregon and #2 of 4,900 Credit Unions in the United States in 2023. According to the data and analytics firm, S&P Global Market Intelligence calculated scores for each credit union based on five metrics: member growth; average loans per member; net worth as a percentage of total assets; delinquent loans as a percentage of total loans, and return on average assets. Cascade Community CU has ranked amongst the top credit unions in the nation for several years, proving not only their commitment to excellence locally but to the highest standards achievable. Cascade Community CEO, Lynn Calvert said that “For years, our organization has been recognized with this achievement from S&P Global Market Intelligence, this year with our highest ranking yet and it’s one we are exceptionally proud to receive. This accomplishment further solidifies our position as a nationally-recognized financial institution where members can feel safe about their financial future with a local organization headquartered in Douglas County for over 75 years. This is also evidence of the pivotal role our dedicated employees play in our success by meeting, or exceeding, our communities’ expectations day in and day out.” https://lnkd.in/guvDRb7n GoWest Credit Union Association Roseburg Area Chamber Commerce

Corporate #creditunions have had to change and evolve through every economic downturn to survive and serve our member credit unions. After navigating through so many market changes, what is the next step for corporate credit unions, and what role will we have in the future? Read more: https://loom.ly/XhKdjxA Louisiana Corporate CU #corporatecreditunions #corporates

Those who know me know my passion for credit unions run deep as a member/customer of several of them and as an executive in the industry for over 20 years. Our industry needs a purpose revival in which credit unions truly live their mission statements on a daily basis reflected on its operations and decision-making. What happened to the philosophy of “people helping people”? What happened to serving the “underserved” and the “unbanked”? Mind you the underserved and unbanked are the low-income households, mostly minority demographics , immigrants, people with poor credit scores, the youth with no credit history, and mostly the financial illiterate (not exclusive). Isn’t part of the founding purpose of a credit union to cater to these population segments? Don’t these segments of the population need the most financial help and they are the ones being penalized the most with higher fees and rates and “some” discrimination? Are credit unions too focused on balance sheet growth and have become gentrified focusing primarily on high-income earners and people with good to great credit scores? The equation here seems upside down 🙃

Absolute 🔥 in Clint Walters Op Ed in American Banker - "Confessions of a Credit Union Executive Turned Community Banker" "Credit unions like mine were allowed to utilize our tax-exempt status to undercut the competition and weaken the product diversity of tax-paying entities. We weakened community banks and their capacity to meet the credit needs of our communities, utilizing every loophole the government provided us to do so. Now, capitalizing on that weakness and further exploiting their tax exemption to outbid other acquirers, credit unions are gobbling up banks at a record pace. In almost any market, you'll find credit unions making loans that no other bank would make. They do so not out of benevolence, but because they lack expertise for effective commercial underwriting. When credit unions' commercial lending practices are eventually subjected to an organic credit cycle, there will be substantial losses and potential threats to credit union members." https://lnkd.in/eAWTKP65

💼Credit unions helping black communities Check out this insightful article from the St. Louis American that highlights the incredible work being done by these financial institutions. 💪💰 🏦 Unlike traditional banks, credit unions are not-for-profit institutions that prioritize the needs of their members. Black-led and Black-serving credit unions understand the unique challenges faced by Black Americans and work tirelessly to address them. 🌟 St. Louis Community Credit Union, for example, is a not-for-profit cooperative owned by its 60,000 members, most of whom are African American. They believe that a sense of belonging is crucial in navigating financial difficulties, seizing opportunities, and building lasting wealth for individuals and their families. 🤝 These credit unions play a vital role in bridging the racial wealth divide, where Black and Hispanic households have only about 10% of the wealth compared to white households. They provide essential financial resources to low-income and underserved communities, making a positive impact on people's lives. 💡 By removing barriers and looking at the full picture of each individual's financial situation, credit unions create an inclusive environment where members can thrive. They prioritize collaboration and personalized service, ensuring that every member feels valued and supported. 🌍 Membership in these credit unions is open to anyone who lives or works in specific regions, making their services accessible to a wide range of individuals. This inclusivity is a key factor in their success in empowering communities. 🔒 At Secure the Bag, we are committed to supporting and promoting black-owned businesses. We believe that by highlighting the positive impact of black-owned credit unions, we can inspire others to join the movement and contribute to the economic empowerment of our communities. 📣 Share this article with your network and let's continue to uplift and support black-owned businesses together! 💪💼 🔗 Read the full article here: https://lnkd.in/gTJPs9eP #SecureTheBag #BlackOwnedBusinesses #FinancialEmpowerment

If I work for the Federal government (which by my calculations is probably in ten years at the rate now), I'd have to have a bank account. It's stipulated very clearly in many USAJobs applications. If Mike Johnson wants to tell me to have a bank account before getting a job offer, he should play by the same rules.. USAJOBS #magamike #hypocrite

You matter at a credit union. You matter at RVCU. Recently, Illinois Credit Union CEO’s, including our own President/CEO Darlyne Keller, MBA, CCUE, CUDE, CCUFC, SHRM-CP participated in an op-ed to share the benefits and the good that credit unions across Illinois are doing. Thank you Illinois Credit Union League for your leadership in this inspirational message. Share if you too are part of the #creditunions movement! "Yes, Credit Unions ARE Different. Navigating life is tough, especially during turbulent times. Lately, it feels like uncertainty is everywhere. Wading through an economic crisis may have you wondering, “how will I ever afford [fill in the blank]”? If money matters are weighing you down, you’re not alone. More than 60% of Americans are living paycheck to paycheck. Illinoisians aren’t immune to financial challenges. But Illinois is home to 215 credit unions that work hard to help their members build financial confidence. Each of us are CEOs who collectively represent nearly 4 million Illinois credit union members. It’s an honor to lead organizations that return their profits to those who need it most – the members who do business with us. That’s why everything we do is centered around being easy to use, safe and secure, providing extraordinary experiences, and delivering the value our members deserve. Credit unions are a better option than other financial institutions because we are: - Member-Owned. Credit unions are operated by the people who bank with them, not faceless investors. - Not-for-Profit. Credit unions are co-operatives that return profits to their members in the form of competitive rates, convenient access, and enhanced products. What’s more, credit unions will only charge a fee when it’s absolutely necessary. - Always There. Whether you’re working hard to save for inevitable emergencies, you need a car or home loan, or you just need a better option for everyday money management, credit unions have the tools to meet your needs today, and in the future. - Good for you, good for the Community. The economic impact of credit unions for the State of Illinois is $6.16B. Yes, credit unions are different. We’re there for members through thick and thin, and always put you first because taking care of members’ interests is our only interest. Lean on your credit union like you would a trusted friend and know that your financial life will improve. Join today to experience all the ways credit unions are a better way to bank! Find your match here. Be well – best to you and yours, Illinois Credit Union CEOs"