Benefits of Credit Unions – Giving back to the community
Since credit unions are owned by shareholders that are community members, they have a huge impact on the community. Make Your Money Matter shared a few facts about credit unions I found very interesting.
Did You Know:
- More than 3.7 million Americans have joined a credit union since the end of September 2011.
- Credit unions helped 786,000 members by extending more than $134 billion of mortgage financing credit in the last year.
- Some 1,224 credit unions offer financial literacy classes to help members make more informed financial decisions.
- In the last year, credit unions provided more than $630 million within local communities for building infrastructure to support new commercial, residential, industrial and farm-related developments.
It is so encouraging to me that since the shareholders are the owners, they care deeply about how their credit union can help more people. And credit unions are growing too, which just goes to show how many more people are trusting them as opposed to banks.
This post is sponsored by Make Your Money Matter, in association with PSCU, though all views expressed are my own.
Do you or have you used a credit union before?