WA CUs provide $330M in economic impact

Northwest Credit Union Association President/CEO Troy Stang explains why the credit union difference is essential to Washington’s economy and residents in Biz Journals

“As not-for-profit cooperatives, credit unions offer better deals to their members than profit-driven financial institutions,” says Stang. “What that means for the average member household in Washington is a return of $180 each year. That benefits the entire state to the tune of more than $330 million in economic impact.”

This is all part of credit unions legacy. Formed in 1934, President Franklin Roosevelt signed the Credit Union Act which enabled consumers to form member-owned financial institutions to meet the needs of their families. Credit unions have stood the test of time by assisting members from the Great Recession to current times.

 

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