It is important for credit unions everywhere to share the many ways they add value to their communities. It helps keep alive the essence of what financial cooperatives do best – to provide thrift (the practice of using your money carefully and not wastefully) and to make a difference for you and everyone in our community.
When setting my clocks forward on March 8 this year, I’ll reflect on the upcoming change in seasons and how it affects our credit union. It is a time for renewal and growth, and typically is a busy time of year for new home and vehicle purchases for many consumers. If you have your sights on something new this spring, please keep DCCU in mind. We are YOUR local credit union, responsive to your needs and ready to serve in order to help you achieve your financial goals and dreams.
Helping Members Save More
Another way we are helping our member’s achieve financial success is with a new product we will introduce this Spring. It’s called Saver’s Sweepstakes. Deposits to this savings account earn you entries to win cash prizes. It’s a win-win because it’s a great motivator to save money. Even if you don’t win a prize, you win with a higher savings balance! Watch eNews for more information coming soon.
DCCU in our Community
Our credit union has a culture of improving our communities with volunteerism, whether it be with our volunteer board of directors or our staff actively engaged in community outreach. We have many programs that our staff takes part in, including our home-grown Kindness Creates Joy program where staff members are given a donation to pass along to make someone’s day. These stories are posted on social media and will warm your hearts. Follow us on Facebook, Instagram or Twitter.
Wisconsin Credit Unions Work with Legislatures
Every year in January, the Wisconsin Credit Union League organizes the Credit Union Governmental Affairs Conference. Credit union staff from all over the state gather to meet with legislators and ask for their support on credit union issues. We also share the many good things credit unions do for our respective communities.
This year, we asked for support on a bipartisan bill that addresses the outrageous rates of predatory lending, specifically payday loans. Currently, the average interest rate on these can be anywhere between 300% and 600%! This bill caps these loan rates at 36%, which is still a much higher rate than you would get at a credit union, but it is aimed to protect consumers from debt trap loans that they have great trouble ever paying off.
We also shared with legislators the League’s REAL Solutions scorecard which showcases the many ways credit unions do good for the communities we serve. We highlighted the fact that 95% of Wisconsin’s credit unions had provided a loan of less than $500. This is significant because 94% of those loans refinanced a payday loan debt that had overwhelmed a member and allowed them to get out of a bad financial cycle. This type of lending is reflective of not only the credit union spirit throughout our state, but also the way DCCU operates to benefit each of our members.
Annual Meeting Announcement
Members are invited to our Annual Meeting on Tuesday, May 12 at 7 p.m. at our Struck Street branch. It’s a celebration of our credit union, recognition to our volunteer Board of Directors and staff, and thanks to our members for their loyalty. Watch eNews for your invitation. We hope to see you there!
Help Spread the Word
When new people move into our community, often they’re looking for a local financial institution. With so many options they usually narrow down the choices by comparing online reviews of other customer’s experiences. If you enjoy banking at DCCU please consider spreading the word by writing an online review at Google, Yelp, or Facebook. Your comments help others, like you, find a great credit union!