ST. PAUL, Minn. (3/1/10)--Mark D. Cummins, Minnesota Credit Union Network (MnCUN) president/CEO, used the pages of Finance & Commerce
newspaper last week to educate readers about the credit union difference.
A regular columnist for the publication, his article, titled “Credit unions as safe as banks, often more accessible,” was published in the newspaper’s “Association Update” section Thursday. The article explained the essence of the credit union difference, noting credit unions’ not-for-profit cooperative structure, democratic nature, and field of membership restrictions. Cummins also said that credit unions are critical to the financial stability of ordinary Minnesotans because they provide high-quality, low-cost financial services--which is as important in today’s economy as it was when credit unions were founded in the U.S. 100 years ago. “With the common philosophy of ‘people helping people,’ never have credit unions been more relevant as the industry helps Minnesota consumers ensure their own financial health and well-being,” Cummins wrote. The continued safety and strength of credit unions also was central to Cummins’ message. He used the forum to reassure consumers that credit unions are a viable alternative with deposit insurance coverage that is at the same levels as banks. “Credit unions are a vitally important part of Minnesota’s financial services landscape … and provide competition and choice,” Cummins wrote. “When credit unions provide exceptional service to their members, they raise the bar for all other financial institutions. Ultimately, all consumers benefit.” To read the column, use the link. MnCUN’s next column is slated to run March 26.