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CU System
Vermont papers look at the state of co-ops
BURLINGTON, Vt. (1/14/08)--Although the number of credit unions has declined for years due to mergers, the number of members of credit unions has grown dramatically, author Stephen Morris pointed out in Vermont newspapers about the current state of cooperatives. Morris’ article published in the Barre Times-Argus and the Rutland Herald (Jan. 6) focused on the many co-ops doing business in Vermont and mentioned credit unions to exemplify the importance of co-ops. Vermont currently has 31 credit unions, in addition to business cooperatives such as Mad River, Hunger Mountain and Cabot Creamery. The cooperatives “dot the state’s economic landscape,” he said. Yvonne Garand, Vermont State Employees CU business development director, also was interviewed for Morris’ article. She articulated Vermont credit unions’ mission. “We’re not serving our customer base for the benefit of our outside shareholders, but for the common benefit of our members. They are the recipients of any benefits we create,” she stated in the article.
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