Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Branchless CU distributes $10M dividend
WYOMISSING, Pa. (5/16/14)--Utilities Employees CU, a $1 billion branchless credit union serving America's utility and energy industry, has issued a $10 million dividend to its members.
 
Utilities Employees CU, based on Wyomissing, Pa., has made the branchless model work to its advantage since 1934, when the cooperative financial institution was formed to serve America's utility workers and their families, long before the development of the Internet and online banking. Today, the credit union serves more than 44,000 members in all 50 states, from its single facility in Pennsylvania.
 
"In 2013, we launched new services that add an even greater level of personalization to the UECU membership experience--all to help members achieve greater financial wellness and conveniently manage their family's finances from anywhere, at any time," said President/CEO Glen A. Yeager.

"On top of these new initiatives, our commitment to member giveback remained strong, with members receiving more than $10 million in financial benefits through UECU's 2013 Member Loyalty Bonus, rewards programs, and earnings on their savings," he said, adding, "Members saved millions more through lower loans rates and fewer fees than if they'd dealt with a bank."
 
Yeager credits his members' financial success to the organization's cooperative structure, and without shareholders or branches to maintain, the credit union is able to return a greater share of profits to its member-owners.
 
The credit union's annual meeting was held at its Wyomissing, Pa., headquarters and broadcast on the UECU YouTube channel for its nationwide membership.


RSS print
News Now LiveWire
For the last 75 years, even in the most difficult of times, Mill Town #CU has been there for the community it serves. Read #NewsNow Tues.
2 hours ago
The 1st vid shows how consumer can become victim and, advice to those who think they've been targeted. http://t.co/hr9VHpzEze
6 hours ago
.@TheNCUA has released two videos designed to raise awareness of elder financial abuse. http://t.co/iddSxr7H40
6 hours ago
Celebrate #100MM with @MDDCCUA1 at Orioles v Blue Jays tonight at Camden Yards
6 hours ago
The At Home In Lawrence mortgage program from @MetroCU is designed to help revitalize Lawrence, Mass.
7 hours ago