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CU System
Washington state CUs getting second look from consumers
ABERDEEN, Wash. (1/6/09)--More consumers in Washington state are rediscovering the credit union difference, John Annaloro, president/CEO of the Washington Credit Union League, told The Daily World (Jan. 2). One-third of Washingtonians bank at credit unions. Between December 2007 and June 2008, roughly 62,000 opened new member accounts. Great Northwest FCU, Aberdeen, experienced an increase in new accounts--likely due to the comfort zone it provides, said Karen Burkhalter, CEO. The credit union’s “personal touch” in service means that it works with members individually, and helps them through a job loss or workplace injury, she told the newspaper. Credit unions don’t make negative headlines, said Marshall Ellison, president of TwinStar CU, Olympia, in the article. They also don’t do subprime loans, added Terry Fultz, CEO, Newrizons FCU, Hoquiam. However, credit unions still make loans and are well-capitalized. Newrizons serves “everyday citizens”--including those that banks “don’t want to help,” Fultz said. Overall, credit unions care about their members, making them feel like an owner, instead of a member, said Joe Robertson, CEO, Our Community FCU, Shelton. Credit unions’ cooperative principles of self-responsibility, self-help, democracy and equality are strong, the Washington league told the newspaper. For the full article, use the link.
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