Caught on video: Minn. members love their CUs

September 16, 2014

ST. PAUL, Minn. (9/17/14)--The Minnesota Credit Union Network has produced a video in which members tell why credit unions are their financial institution of choice.

The league compiled a handful of the stories it received from people across the state to show just how much credit union members love being a part of not-for-profit financial cooperatives. The video begins with text that tells the story of how 15 workers started the first credit union in Minnesota in 1925 with $146.25 in assets.

Today 400 credit union locations in Minnesota serve 1.6 million members. Nationally, credit unions hit more than 100.1 million memberships, a number equating to one-third of the U.S. population, according to the Credit Union National Association's June survey of monthly credit union estimates.

The video asks: So, why do [members] love their credit unions? Among the reasons members give:

  • Family-friendly environment;
  • Great rates;
  • Excellent service;
  • "I can do online banking any time I want;"
  • "I can get all my financial services done in one place;"
  • "Credit unions are the only place that someone on a fixed income can get a $380 loan to fix a broken hot water heater;"
  • "Credit unions are owned by their members, so they take good care of you;"
  • "I got a car loan in 10 minutes;" and
  • "I love my credit union because for over 30 years they've given me better deals than banks on loans, accounts, interest rates, everything you can imagine."