Building Stronger Communities
Jun 09, 2023Financial Coaching
The Importance of Credit Union Advocacy: Building Stronger Communities
Credit unions are not just financial institutions; they are member-owned cooperatives that have a vested interest in the success and well-being of their communities. One aspect of credit unions' mission is advocacy. In this blog post, we will answer questions
about credit union advocacy and explore its role in the communities we serve.
What is Credit Union Advocacy?
Credit union advocacy is about working to support credit unions and their members. It involves speaking up and taking action to promote policies that are good for credit unions and its members. This can include
talking to lawmakers and others in power, along with educating credit union employees and members on the role credit union advocacy has in our communities.
Advocacy involves identifying, educating, and/or promoting a cause. It is an opportunity to shape public perception and impact change. The goal is to make sure credit unions can provide the best services to their members by influencing laws and rules
that affect them.
What is the credit union motto?
Credit unions were founded on the philosophy of "People Helping People." They believe that financial well-being for all extends beyond just offering products and services. Credit unions are also advocates for strengthening their communities through leadership,
education, advocacy, and volunteering.
Why is Credit Union Advocacy Important?
Member Empowerment: Credit unions are owned by their members, and advocacy helps give those members a voice. It ensures that laws and rules support the needs of credit union members. This means members can have fair and affordable financial
services that meet their needs.
Community Impact: Credit unions are closely connected to the communities they serve. Advocacy allows credit unions to address local issues and make communities stronger. By supporting charities that strengthen our economy and well-being
of our community, credit unions help create better and more resilient communities.
Preserving Credit Union Values: Credit union advocacy helps keep our members and community at the forefront of everything we do. Because members of the credit union are the owners, profits made are returned to our member-owners in the
form of better loan rates, free or lower cost services, and higher dividends. These values and benefits aim to foster a cooperative spirit, prioritizing the needs of members.
Collective Strength: Advocacy brings credit unions together to make a bigger impact. They work together to speak up for their shared interests. By joining forces, credit unions have more influence and can shape the financial industry
to be fairer and more inclusive for everyone.
Where can I find impacting issues?
If there is an issue that we need to share with our members, we will do so on hapo.org. Follow along with us on social media for more credit union advocacy knowledge.
Credit union advocacy is essential because it empowers members, improves communities, preserves credit union values, and gives credit unions more power to make positive changes in the financial world.