R.I. helps CUs celebrate 100th anniversary

January 14, 2015

PROVIDENCE, R.I. (1/15/15)--Rhode Island Gov. Gina M. Raimondo issued a Gubernatorial Proclamation declaring Wednesday Credit Union Day, as the state's financial cooperatives marked the 100th anniversary of the Rhode Island credit union system.

Click to view larger imageRhode Island Secretary of State Nellie M. Gorbea certifies Gov. Gina M. Raimondo's proclamation declaring Wednesday as Credit Union Day in the state. (State of Rhode Island Photo)

"Credit unions embrace a 'people helping people' philosophy through the pooling of personal resources and leadership abilities for the good of the cooperative, empowering members to improve their financial futures and uniting to help those in need," Raimondo's proclamation read.

Rhode Island credit unions held a celebration and advocacy event during their annual governmental affairs day at the State House in Providence Wednesday (Daily CU Scan Jan. 14).

"For 100 years, Rhode Island credit unions have been providing high quality, low cost financial services to communities throughout Rhode Island, said Paul Gentile, president of the Cooperative Credit Union Association.

Rhode Island credit unions save consumers more than $26 million per year in direct financial benefits through their business with local credit unions. Roughly 347,000 Rhode Island residents, 33% of the state's population, are credit union members who are personally served by 21 credit unions with more than 67 local branches operating in the state.

The governmental affairs day included a packed schedule with lawmakers from throughout the state expected to attend to discuss key issues with Rhode Island credit union leaders. Raimondo made remarks, along with Senate President Teresa Paiva Weed (D-Jamestown, Newport) and Rep. Brian Patrick Kennedy (D-Hopkinton, Westerly).

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