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Family reunion time

Jul 01, 2014

I have a very large family, with tons of cousins and relatives. Every July we have an enormous family reunion, hopefully in a central location since we’re scattered across the nation. But this year, the cousin-in-charge picked Maine. That’s quite a distance from California’s Bay Area. Nonetheless, it will be a fun 3-day event that always includes a historical excursion.

Credit union members are a lot like families—we’re united by a common bond. Whether your credit union serves your co-workers, family members or neighbors in your community, you’re part of something special.

Unlike banks, credit unions are owned by our members. When financial cooperatives were first formed, it was as simple as people coming together to help each other. And that philosophy still exists today. As a CEO, I am continually grateful that I don’t have to choose between the needs of my company’s stockholders and the needs of my customers—because you’re one and the same!

While banks may be pressured to increase fees in order to pay higher stockholder dividends, KeyPoint continually looks for ways to lower costs for members. Although we do need to cover our expenses, our ultimate goal is to have happy members.

June 26th was the 80th anniversary of the Federal Credit Union Act, and President Obama noted that “credit unions are vital financial institutions that play an important role in our economy”.  Credit unions have nearly 100 million members nationwide, and over $1 trillion in assets.

Credit union members have never lost a penny of insured savings at a federally insured credit union like KeyPoint. I am proud to be part of KeyPoint and the credit union industry.

Many KeyPoint members recognize and appreciate the difference between banks and credit unions, including Ali from San Jose who said, “Friendly staff. Very unlike the BIG banks.”

What do KeyPoint and credit unions mean to you?

 

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