Andrews Federal Credit Union’s Post

On June 26, we commemorate the 90th anniversary of a landmark moment in American history: President Franklin D. Roosevelt's signing of the Federal Credit Union Act of 1934. Born out of the desperation of the Great Depression, this Act revolutionized the financial landscape by establishing federal credit unions. Explore the profound legacy and future of credit unions in this CUInsight.com article.

This article speaks volumes on Judy!

Two new features/perspectives that I hope you'll find worth your time: * With the future of overdrafts in question, including potentially disappearing at some point, credit unions should be opening their strategic playbooks now and looking at their options, says one expert, who adds that CUSO partnerships need to be near the top of the list. Story here: https://lnkd.in/e_5nFTRu * The African-American Credit Union Coalition (AACUC) has entered into the second phase of its Future Fund campaign, and the organization says that in addition to driving programs that address the racial wealth gap, the effort will also support small credit unions in an area critical to their ongoing success—succession planning. Story here: https://lnkd.in/eyQgD5Um

Juneteenth, while widely celebrated in many parts of the United States, can be confusing for those in northern states who may not be as familiar with its historical significance. One confusing aspect is that Juneteenth marks the announcement of the abolition of slavery in Texas on June 19, 1865, which occurred more than two years after President Abraham Lincoln's Emancipation Proclamation on January 1, 1863. This delay was due to the slow spread of information and the resistance of some Confederate states to enforce the proclamation. As a newly recognized federal holiday, Juneteenth means that some government services and businesses may be closed in observance. Therefore, mobile deposits, AH, or wires are unable to be processed, sent, or posted until June 20th. However, all Dakota Community Bank & Trust branches will be open as it is important to acknowledge that many throughout history, such as Major General Granger, continued their mission to make a difference without pause. This spirit of relentless dedication is mirrored today by small business owners and countless others who persist in their efforts to contribute positively to society.

As we celebrate what makes credit unions unique today, SVCU took the time to reflect on our member and community relationships over the last 70 years. For those members who are with us today and to those prospective members who may be joining us tomorrow, our mission is "To be the financial services provider of choice in the communities we serve". Here is: "Why SVCU". https://lnkd.in/g9msSyCF

Winston-Salem Federal Credit Union has agreed to be acquired by Self-Help Credit Union of Durham, effective Jan. W-S credit union, founded in 1957, primarily serves city employees. It has 8,800 members, $60M in assets and a branch at 711 E. Salem Ave. https://lnkd.in/gryhvy83

"In times like these, the credit union superpower of empathy can guide us. Kindness and curiosity can keep us moving forward. No matter what challenges lie ahead, it’s our communities that will bring us together. Community requires everyone’s participation. Even small gestures of kindness, like those shown by my neighbors, can create ripples of hope and resilience that uplift entire communities. In the days, weeks, and months ahead, I’m committed to finding common ground, approaching others with curiosity and kindness, and creating small ripples of hope and resilience that can benefit us all. Will you join me?" CUInsight.com AACUC Callahan & Associates, Inc.

Ascend President and CEO Matt Jernigan recently had an editorial published in Tullahoma News where he and Tennessee Credit Union League (TCUL) President Fred Robinson advocate for legislative change that would allow credit unions to play a greater role in supporting public entities. His message underscores the critical role credit unions play in supporting their local communities and promoting accessible financial services for all. You can read the full article at https://lnkd.in/d9QfQcR6

“There must be no forgotten person. There must be no discrimination against race, creed, or color. The must be no special privilege.” — Edward Filene "Ninety years ago, President Franklin Delano Roosevelt signed the Federal Credit Union Act to ensure the continued health of the credit union system in this country, and safeguard credit union members’ choice of financial provider. In his second inaugural address less than three years later, President Roosevelt captured the spirit of this landmark legislation by saying, “the test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.” "Yesterday, we marked International Credit Union Day. From its beginning, the credit union movement has been a global phenomenon driven to ensuring the financial system works for all, especially those of modest means. Franz Hermann Schulze-Delitzsch established the first credit unions in the 1850s in Germany to give those lacking access to financial services the opportunity to borrow from the savings pooled by themselves and their fellow members. In 1909, the movement reached American shores when St. Mary’s Cooperative Credit Association opened in Manchester New Hampshire. "Credit unions around the world have also supported and enriched their communities by serving as micro business lenders and providers of character loans to those who otherwise would be left without wealth-building opportunities. In doing so, they have put financial security and intergenerational wealth within reach of all. So, know that your efforts as members of the NCUA team contribute to advancing the system of cooperative credit that uplifts individual and strengthens communities. NCUA Chairman Todd M. Harper #ICUDay2024 #NCUA #creditunions #finance

Our heart is in Louisiana, but our roots are in credit unions! Did you know that LaCorp has a charter to serve any credit union in the country? It's time to think about your corporate credit union. Check us out at www.LaCorp.com #louisiana #creditunions #creditunion #interestrates #investing #economy