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CUNA Board members safety editorial in IKansas City StarI
KANSAS CITY (12/3/08)--Credit unions are a safe course to take in the troubled waters that constitute today’s world of finance, a Credit Union National Association Board member wrote in an editorial published Tuesday in The Kansas City Star. “When faced with choices, close to home is usually a safe course,” wrote Dennis Pierce, CEO of the $1.689 billion asset, Lenexa, Kan.-based CommunityAmerica CU. “In the financial services industry, credit unions are about as close as you can get to home. “Credit unions were formed by people with common interests, who pooled funds to help each other,” Pierce added. “Friends and neighbors banded together for mutual financial benefit. And credit union membership is much more open than in the early part of the 20th century, meaning Kansas Citians have more options than they may know in the way of credit unions. “It’s worth noting that the credit union principle has worked for nearly a century, and it’s even more relevant today, especially amid one of the biggest financial crises in U.S. history,” he continued. “It’s a long way from Wall Street to Main Street. When seeking safety, keeping your money close to home, in the company of the money of your friends and neighbors, is a good choice in these times,” Pierce concluded.
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