MADISON, Wis. (10/20/15)--Credit union leaders nationwide took to their respective local media outlets to double down on the exposure that International Credit Union (ICU) Day brought to the movement last week.
Jill Nowacki, president/CEO of the Connecticut Credit Union League, authored a letter to the editor in the Central Connecticut-based Journal-Record explaining that the day serves as a reminder of the tireless work credit unions do for their communities.
“On Thursday, Oct. 15, credit unions in Connecticut and worldwide came together to celebrate International Credit Union Day and the role that financial cooperatives play in improving the communities they serve and the lives of their members the world over,” Nowacki wrote (Journal-Record). “All credit unions share a common goal to offer access to affordable financial services to all their members and provide even the most financially disadvantaged the tools and the opportunities to be financially self-sufficient.”
In Idaho, Tim Toy, vice president of branches for the West Jordan, Utah-based Mountain America CU, wrote in the Idaho Statesman that ICU Day presents an opportunity for Idahoans to improve their financial literacy and to better understand how to eliminate debt.
“Financial literacy, after all, is not something you accomplish in 10 easy steps; it is an ongoing understanding of your current financial situation and how the decisions you make affect your long-term financial future and ultimately your quality of life,” Toy wrote.
Chuck Valenti, president/CEO, Del Norte CU, Santa Fe, N.M., in an op-ed in the Santa Fe New Mexican, wrote about this year’s ICU Day theme of “People Helping People,” and how it encapsulated the credit union philosophy.
“Credit unions are unique because we are not-for-profit, democratically controlled, member-owned cooperatives,” Valenti wrote in the New Mexican. “We are local banking.”
Added Valenti: “Credit unions pool members’ assets to provide low-cost loans and other financial services in the best interest of the members, not to earn shareholder profits. Members, not outside investors, receive dividends based on the credit union’s financial performance. Our board and supervisory committees are made up of volunteers, members who donate their time to oversee the credit union.”