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News Now

CU System
Newsletter profiles Vermont CUs for Co-op Month
SOUTH BURLINGTON, Vt. (10/27/08)--Four Vermont credit unions and Joe Bergeron, president of the Association of Vermont Credit Unions, were featured in the October edition of Washington Electric Co-Op's newsletter, Co-Op Currents, which focused on National Cooperative Month. The article profiled credit unions where the co-op's members live, including United Community CU, Vermont State Employees CU, Members Advantage Community CU, and Granite Hills CU (Newslines Express Oct. 24). Bergeron told the publication that credit unions operate in the same economy as everyone else, with members paying more for gas and taxes and losing jobs. "We're definitely connected to what's going on," he said. "But you're not going to see credit unions disappear off the face of the earth like some banks are doing, because we aren't holding any of those subprime mortgages." He explained credit union members' deposits are protected by federal insurance and that although they aren't part of the economic crisis problems, they are part of the solution. For the entire article, use the resource link.
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