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- Newsgroups: misc.activism.progressive
- Path: sparky!uunet!gatech!ukma!mont!pencil.cs.missouri.edu!rich
- From: rich@pencil.cs.missouri.edu (Rich Winkel)
- Subject: Economic Democracy: CREDIT UNIONS (I) (autopost)
- Message-ID: <1992Sep11.083004.20815@mont.cs.missouri.edu>
- Followup-To: alt.activism.d
- Originator: rich@pencil.cs.missouri.edu
- Sender: news@mont.cs.missouri.edu
- Nntp-Posting-Host: pencil.cs.missouri.edu
- Organization: PACH
- Date: Fri, 11 Sep 1992 08:30:04 GMT
- Approved: map@pencil.cs.missouri.edu
- Lines: 51
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-
- What Are Credit Unions?
- [Based on a pamphlet:]
-
- "Do you know who pulls' the strings at _your_ financial
- institution? At a credit union, the control is in YOUR HANDS"
-
- Credit unions are people-oriented financial institutions. Formed as
- not-for-profit cooperatives, they operate for a single purpose: to
- server their membership.
-
- Americans saw the first U.S. credit uion established over 80 years go.
- Since then, the credit union movement has grown to include over 60
- million memberts nationwide. Credit unions are the fastest-growing
- sector in the financial marketplace, and members hae the advantage of
- being owners of their credit unions.
-
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- Credit unions exist to serve their membership, not to make a profit
- for stockholders. The general membership, not a few shareholders,
- elect the boards of directors and other committess that run credit
- unions. Each member has one vote and an equal say in the credit
- union's mission and operation. [I.e., "one member, one vote" not "one
- dollar, one vote"] The benefits you receive as a member/owner of this
- coperative effort include: lower interest charges on loans, higher
- dividend rates, personal service and a wide variaty of products.
-
- The cooperative spirit of credit unions is being threatened by other
- finacial institutions and the U.S. Government. Pressue is being put on
- our legislators to make credit unions just like other financial
- institutions; they are attacking our "not for profit, but for service"
- philosophy and the entire cooperative nature of credit unions. Any
- change in the current status of credit unions couldmean higher loan
- rates, lower savings rates, reduced services and control of your credit
- union by a few wealthy shareholders. Let your legislators konw that
- you support your member-owned cooperative. Support the credit union
- difference!
-
- [Presented by the Finger Lakes Credit Unions, working together to
- educate our members]
-
-
-