Join UMassFive in Celebrating the 75th anniversary of International Credit Union Day
Article published in Northampton Living
(October 2023)
EXPERT CONTRIBUTOR
Banking Services
UMassFive College Federal Credit Union
413-256-5500
Making life choices and dreams a reality are how credit unions make a difference – in Northampton and around the world. All credit unions share a common goal: to offer access to affordable financial services to members and provide even the most financially disadvantaged the tools and opportunities to be financially self-sufficient.
Now that’s something to celebrate.
On Thursday, October 19, credit unions will come together to honor the 75th anniversary of International Credit Union Day and the role that financial cooperatives play in improving the lives of their members and the communities they serve. Join your local credit union in celebrating the impact credit unions and other financial cooperatives have made – and continue to make – for their members.
Not a member of a local credit union? We encourage you to research our credit unions here in the Valley to learn more about why so many people are banking at these financial institutions.
Credit unions are unique because they are not-for-profit, democratically controlled, member-owned cooperatives. Credit unions pool their members’ assets to provide low-cost loans and other financial services in the best interest of their members – not to earn shareholder profits. The credit union movement’s cooperative spirit is embraced by 393 million members served by more than 87,000 credit unions in 118 countries.
Stellar member service and democratic control are just some of the benefits of being a credit union or cooperative member. That is as true of credit unions in Northampton as it is in other cooperatively owned financial institutions from Armenia to Zimbabwe. All over the world, credit unions and other financial cooperatives are founded on community service.
At UMassFive, we are especially focused on empowering local residents and businesses. In 2022 alone, we held 32 virtual workshops on financial topics ranging from understanding credit to retirement planning. And through our Co-op Points rewards program, we are proud to have waived $285,796 in fees last year, along with lowering the rates on 1,300 loans and increasing the rates for 856 term deposit accounts.
This year, we hope everyone will join us in honoring our proud cooperative heritage and the wonderful opportunities credit unions offer the Northampton community every day. When you bank with us, you can expect to save money and be rewarded — we are after all, a co-operative, which means we work for you.
More contributions from UMassFive College Federal Credit Union
