Iowa Credit Union League President/CEO Murray Williams reminded Iowans their money is safe and secure in a credit union in the Des Moines Register this week. Responding to recent bank collapses, Williams also noted that increasing financial well-being is at the core of credit unions' social mission.
"Born as a solution to the financial crisis of the Great Depression, credit unions have historically proven their safety and soundness," he wrote. "Since financial cooperatives began in the state in 1925, Iowa credit unions have served as a trusted, local financial partner of choice in good times and bad."
Williams added that the not-for-profit cooperative model is a clear difference for credit unions, since they are owned by their members.
"Credit unions’ commitment to helping Iowans in local communities is evident in our industry’s state legislative priorities, which include helping Iowans develop better savings habits, addressing child care challenges and supporting safeguards for protecting member data and privacy," he wrote. "There is an Iowa credit union for every one, and for every need. We will continue to be there for Iowans, especially in times of financial uncertainty when you need us most."