Many Ways to Support Credit Unions

Last newsletter, I wrote about the major differences between credit unions and banks. Study after study shows that this is an important topic and deserves attention. Why? Because most Americans do not fully understand the many ways that financial institutions like RBCU differ from banks. This is especially important at this time in our nation’s history.

Right now, there are millions of dissatisfied bank customers in our country. They’ve had enough of the poor service, high fees, and failures of many of the nation’s banks. Many people don’t understand just how different membership in a credit union can be. That’s why I am hoping that you will take the time to help educate your family and friends about credit unions. After all, the vast majority of credit union members first heard about the tremendous service and savings of credit unions through conversations with people they trust.

Besides the fact that every member of a credit union is also a part-owner of that credit union, the most powerful difference between credit unions and banks is one of democratic control. Specifically, every member of RBCU can vote for those who will serve the institution on its unpaid all-volunteer Board of Directors. This is an extremely important privilege and often misunderstood by both those inside and those outside the credit union world.

Contrary to the high-paid Board members of banks, members of the unpaid RBCU Board serve their 3-year terms out of a sense of duty to their fellow members. Though they do not take part in the day-to-day business of RBCU, they help oversee the general strategic direction of the credit union; acting as a voice for the members who elect them. They play a part in helping the executive management make major credit union decisions. More importantly, they represent the credit union at events “out and about” in our served communities. If you wish to run as a candidate for RBCU’s Board of Directors, please give us a call right away. We are currently seeking qualified candidates for this year’s election. Nominations must be in by the end of January.

It is clear that the vast majority of members don’t feel called to serve as Board members. That’s understandable and expected. However, as I mentioned above, every one of us can do our part to support RBCU by educating our friends and family about the benefits of credit union membership.

There is another way all of us can do our part to support RBCU and help assure its success. Just use your credit union. Seems simple enough, doesn’t it? Thankfully, it is. I encourage each and every one of you to utilize as many of RBCU’s accounts and services as possible: savings accounts, checking, credit cards, and loans for nearly any purpose.

After all, we are a full-service and technologically advanced financial institution offering nearly every type of account or service that the “big banks” offer. However, we almost always offer much greater simplicity, better service, and lower costs and fees than they do.

Obviously, we don’t always have the very best rates in the metro, but we are always looking for ways to improve our products and serve our members better. Also, the money you might save getting a loan somewhere else is usually quite small and is nothing compared to the excellent service you receive at RBCU and the knowledge that you are supporting a credit union committed to strengthening the schools and communities it serves.

I wish you all the best in 2012. Thank you for your continued membership and for your help supporting the credit union. We couldn’t be successful without you.