Credit Union Philosophy
October 20, 2011 marks International Credit Union Day. On this day, credit unions celebrate the important economic and social contributions they make to their communities and reflect on their rich heritage. For the month of October, Coastal will be raising awareness about credit unions and give members the opportunity to get more involved. The Credit Union Philosophy In 1935, when credit unions were helping Americans through the Great Depression, the treasurer of a Midwestern credit union said that credit unions were "not for profit, not for charity, but for service," and that philosophy holds true today. Credit Unions stand by seven cooperative principles that reflect their commitment to serving members and their communities. These principles will be shared throughout the month of October! Copyright 2009- Credit Union National Association, Inc.
Credit unions continue to look out for their members’ interests and provide a level of service that is not generally available at other financial institutions. Whether it’s providing a loan to help a member cover unexpected medical bills, giving financial counselling to a member whose company closed its doors, or simply offering a better deal on a used car loan, credit unions make a difference for their members and the communities they serve.
