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News Now

CU System
Washington islanders aim to create a CU
VASHON-MAURY ISLANDS, Wash. (4/8/10)--A group of consumers has been trying since January to start a credit union on Vashon Island--off the coast of Washington state. Supporters said the move will provide Vashon with increased control over its financial resources and the ability to create meaningful investment in people and projects (Vashon-Maury Island Beachcomber Reporter April 6). The group is rallying around the motto, “Our Community, Our Money,” which speaks to the essence of a credit union and the group’s desire to establish one, the newspaper said. “We could do the right thing for the environment, stimulate the local economy and invest in our community,” Bill Moyer, one of the main organizers of the credit union project, told the paper. “We could be taking control of our money.” The article noted credit unions’ lower interest rates on loans, higher interest rates on savings, and fewer service fees than banks. “Credit unions can also provide innovative financial services banks often don’t offer,” the paper said, adding that credit unions have enjoyed a surge in popularity as people have become less happy with large banks and their practices. To read the article, use the link.
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