CEW Series: Credit Unions are Co-ops, Too! Credit Unions are Co-ops, Too! Follow-up Questions Credit Unions are Co-ops, Too! Follow-up Questions Name * Name First First Last Last Email * Co-op Affiliation Position at your Co-op 1) The relationship of a member to their co-op is the use of products and/or services. How do members “use” their Credit Union? * 2) Whereas a bank’s core purpose is to maximize return on capital for shareholders, a credit union’s primary purpose as a not-for-profit financial co-operative is to serve the needs and goals of members in the community. What is another major difference between a Credit Union and a for-profit bank? * 3) Credit Unions have roots around the globe as mutual aid and lending circles. The early formal financial co-operatives were noted in Germany, Canada, and then to the United States in the early 1900s. The first formal credit union was established in the U.S. in New Hampshire in 1908. Had you heard of the Credit Union Museum in Manchester, NH? If you were going to create a museum for your co-op or food co-ops in general, what are some of the things you would want to be sure were included? * 4) Self-help and self-responsibility are core values of credit unions, with members working together to provide one another with access to credit, savings accounts, and other financial services. What are the parallels you see within food co-ops? What are some ways that your co-op makes these values real? * 5) Presenter Carla Decker spoke about Principle 6 within the Credit Union sector and examples of how credit unions work together to better serve their members. Are there ways that your co-op collaborates with a local credit union? Please note. If not, can you think of ways that your co-op and a credit union could work together? Please note. * 6) Are you a member of a Credit Union? Are you familiar with the credit unions serving your area? If your answer is no to either of these questions, we encourage you to become familiar with the credit unions in your area. Here is a link to find credit unions near you: https://www.yourmoneyfurther.com/credit-union-locator * Please type the email you need to have your responses go to here. (Your Supervisor, Board Administrator or General Manager) * If you are human, leave this field blank. Submit Share this story in social media or in your e-news!
