Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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
Construction spending drops in January, according to @CommerceGov http://t.co/W9J1mDyF8X #Market #NewsNow
15 hours ago
During Nat'l Consumer Protection Week, @TheNCUA reminds #CU members of agency resources re: rights as consumers. http://t.co/aYgW1HoDmF
16 hours ago
.@TransUnion: #millennials climbing into driver's seat with loans http://t.co/S4H9OIB3Av
17 hours ago
Breaking at #NewsNow: @CUNA backed bill introduced by @RepEdRoyce @GregoryMeeks would raise MBL cap. #CUSmallBiz http://t.co/ZDAb2UMoQz
19 hours ago
Loan growth at federally insured #creditunions in 2014 climbed to highest level since 2005, @TheNCUA reported today. Watch News Now Tues.
19 hours ago