75 years ago, with the credit union movement in full swing, International Credit Union Day was created to help spread the word about credit unions and everything that makes them unique. From a broad range of loans on offer to the more hands-on opportunities members get in credit union leadership, there are many things about credit unions that set them apart from other financial institutions.
Entering the United States in 1909, credit unions exploded in popularity throughout the Great Depression and into World War II. Their person-first approach appealed to a nation experiencing hardship and led to a membership total of almost 3 million by 1952. In the ‘60s, Project Moneywise saw credit unions pivot to helping low-to-mid-income members better manage their money through financial wellness resources, something credit unions across the country still practice.
Today, Purdue Federal Credit Union (Purdue Federal) is one of over 50,000 credit unions across the country celebrating International Credit Union Day. With over half a century of history and success in the Region, Purdue Federal is happy to celebrate everything that makes credit unions special, particularly the relationship the credit union has formed with its members.
“I believe the most unique aspect of a credit union is the member-owned structure,” said Bob Falk, president and CEO of Purdue Federal, in a press release. “It allows us to put all our focus on taking care of our members without having to worry about stock prices or shareholders, etc.”
On top of the standard benefits members receive by joining a credit union, including a stake in the ownership of the credit union, members at Purdue Federal also enjoy perks based on use and good financial practices. These perks reward members who go out of their way to help themselves when it comes to finances.
Purdue Federal also offers financial wellness resources that help members build good spending and saving habits. While banks may be able to offer similar programs, Purdue Federal’s personalized customer approach service makes learning easier for members.
Purdue Federal, like many credit unions, is also part of a larger Shared Branch network that lets members access their accounts no matter where they might be across the country. Purdue Federal members can withdraw, deposit, or transfer money, check their balances, and make payments on loans at one of over 5,600 shared branches nationwide. In addition to being able to access their money, Purdue Federal members can additionally access over 30,000 surcharge-free ATMs around the United States. Whether right at home or across the country, credit unions like Purdue Federal make sure you can always use your money.
Most importantly, the member-owned nature of credit unions encourages members to be more invested in the operations of their credit unions. Members build relationships with the people working in their credit union. For Purdue Federal, the idea of people helping people is rooted in everything the credit union does, and that starts with the trust of its members developed over a lifetime of superb service.
International Credit Union Day gives everyone an opportunity to reflect on the benefits credit unions bring to their members. Whether it’s excellent customer service, financial wellness resources, or access to a large, connected network of shared branches that ensure you always have access to your account, it’s important to recognize the service credit unions like Purdue Federal bring to the Region.
Purdue Federal Credit Union is a member-owned financial institution founded on the belief of people helping people. To learn more about its services, member benefits, or how to enroll, visit www.purduefed.com.
