Credit Unions are CREDIT-able
"Progress is not the mere correction of evils. Progress is the constant replacing of the best there is with something still better." ~Edward Filene~ |
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In 1934 FDR signed into law the Federal Credit Union Act to ensure Americans could secure credit for purchases such as automobiles and appliances at a time when savings institutions were not generally interested in providing consumer credit. Choose all that apply.
This legislation was important then.
>It is more relevant today.
It was critical then and is critical now.
Why do you think the number of credit unions doubled in the 1970's Choose all that apply.
Legislation brought about major changes in the products offered by financial institutions resulting in legislation expanding services to credit union members, including share certificates and mortgage lending.
>Consumers were drawn to the not-for-profit, co-operative status of credit unions.
The National Credit Union Administration became an independent federal agency and the National Credit Union Share Insurance Fund was formed to insure members' deposits.
How do you feel knowing that 88 million Americans are members of credit unions with in excess of $677 billion in deposits and loans of over $546 billion in 8,000 federally insured credit unions?
1 = Not important to me; 5 = Important to me.
| 1 | 2 | 3 | 4 | 5 |
| I had no idea credit unions were that pervasive. | | | X | | |
| Sounds like a viable consideration for making deposits and pursuing mortgage loans. | | | X | | |
| It makes me want to know how well they are doing in the current economic situation. | | | X | | |
Are you presently a member of a credit union?
Yes
>No
If "No" above, please identify why you have not considered a credit union previously. choose all that apply.
>Thought I had to be employed by a company serving credit unions.
Didn't think they offered checking, savings, CDs and mortgage products.
Never saw them as being as competitive or aggressive with products.
Other
If "Other" above, please specify.
Of the financial institutions in the market now, who are you most inclined to count on in the current environment?
>Big Banks
Community Banks
Credit Unions
Are you a resident of the state of Georgia (Peachtree State)?
Yes
>No
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