In the VSECU Blog you'll find financial and lifestyle resources to help empower possibilities for your personal success.
Navigating our financial system can be difficult, but it has been that much harder for the Black community after the abolishment of slavery. Jim Crow laws made it nearly impossible to get a loan or even open a bank account. African Americans would need a white man to vouch for them to even be considered for a loan. When we step back and examine our financial system, do we truly understand how far we have come in making it more accessible? Do we know how it difficult was for those individuals who helped pave the way?
“Where money goes, so goes the future.” More and more, people are realizing that what they choose to do with their hard-earned money, and how it is managed by their bank, credit union, or investment broker, makes a difference in their communities and the world around them. There is a choice to be part of an economy that supports you, and help create a more resilient and prosperous community around you. So today, in the midst of a global pandemic, we are celebrating Banking on Values Day by talking to four of our many VSECU members who choose this way of banking and exchange every day. Their businesses are built to create benefit for their community, preserve and care for the environment where they live and work, and provide profit to support their livelihood.
“This is the moment credit unions were invented for. Or at least should have been...” This message from author, speaker, and former VSECU consultant Douglas Rushkoff hit my inbox in July earlier this year. VSECU had benefited from Douglas’s insights before and MIT named him one of the world’s top ten influential thinkers, among other accolades, so his words had weight. He was simultaneously praising of the foundations of mutual aid and shared values that credit unions are built upon and issuing a challenge for credit unions to rise to the many difficulties we are facing in 2020. So, on International Credit Union Day, a day when we celebrate the contributions of credit unions, we ask, “What is it about credit unions that makes them meaningful in this moment?” and “What are credit unions doing to meet the challenges of today?
Credit unions tend to serve local populations, so finding a branch while you’re traveling afar can be a trick. The CO-OP Shared Branching Network has solved this problem by allowing credit unions across the country to band together and offer services to members of all networked credit unions.
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As a member and an employee of my local credit union, the question “Why Join a Credit Union” is one I’ve given a lot of thought to.
Believe it or not, your money is powerful. You use it to buy everyday things like clothes, food, and utilities—those things that make it possible to live. You may also use it to provide your kids with an education that opens opportunities for them in the future. Or give it to local charities to express your values and help others out of a tough situation. That’s all powerful stuff.
So here's a fun fact, which also happens to be the reason I’m writing this blog: International Credit Union (ICU) Day comes every year on the third Thursday of October (October 18 in 2018). It’s a big day for credit unions and this year (2018), the theme is “Find Your Platinum Lining.” If you’re wondering why they're messing with your silver lining, they have a good reason. This is the platinum (70th) anniversary of ICU day, which started in 1948 and has been celebrated on the third Thursday of October since then.
March is Women’s History Month and VSECU has a lot to celebrate during this month. Not only did women play an important role in the development of the credit union industry in the United States, but they were equally necessary to the founding of VSECU.