Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Mass. CU CEO to fin pub CUs important as ever
SOUTHBRIDGE, Mass. (11/24/09)--Credit unions are as important as they have ever been to U.S. consumers, especially in the current troubled economic environment, a Massachusetts credit union CEO wrote in a column for a local financial publication. “U.S. credit unions are celebrating their centennial year in the midst of gloomy economic times,” Jeffrey Davenport, CEO of Southbridge (Mass.) CU, wrote in the Worcester Business Journal (Nov. 23). “Many Americans are hurting, and folks are apprehensive about their economic prospects. “Credit unions wish this weren’t the case, and they are stepping in to help whenever possible,” he continued. “But the current situation is an important reminder that credit unions themselves were founded from adversity such as this. It is also a reminder of their proud history of putting people before profits to provide access to affordable financial services to all their members.” Credit unions’ cooperative business model and emphasis on public service through adherence to conservative financial practices has allowed them to be a sanctuary for the past 100 years during times of financial crisis, Davenport wrote. “And even in the midst of the current market crisis, credit unions have been repeatedly heralded as an important source of stability in the financial sector,” he added. “Indeed, credit unions remain committed to helping our citizens retrieve the economic power lost during the current crisis and to recover their homes lost because of the mortgage market upheaval. “Not only is this the reason that credit unions exist, it is also what they do best. And it is this proud, 100-year tradition of being part of the solution rather than the problem that credit unions are celebrating today,” Davenport wrote. To view the column, use the link.
Other Resources

RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
14 hours ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
19 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
20 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
22 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
22 hours ago