In these difficult financial times, it can be a struggle to accept the fact that your savings are being slowly drained by bank fees, swelling the bank's profits at the expense of your financial security. In fact, many people would like to do as their grandparents did after the recession and start stashing cash in their mattresses, if only the danger of it being lost to fire or theft wasn't so grave. So what's the solution? Do you just roll over and accept the stiff fees? No. There is another option. You could take your patronage to another type of financial institution: a credit union.

Most people think that credit unions are the same as banks, but while they offer the same type of services, the way they are structured and run is completely different. A bank is governed by a CEO and a board of directors whose mission is to maximize the bank's profits in order to line their own pockets. When they invest their clients' money, they are able to take riskier propositions because it is their clients that shoulder most of the risk in a situation where the investment returns a loss.

A credit union, meanwhile, is a type of bank that is founded and run by the people whose money is supporting it. In other words, anyone who opens an account with a credit union is a part owner and therefore has a vested interest in the well being of the bank. And in turn, the board of directors, who are all also clients, have a vested interest in making sure the bank does well and returns dividends to all its clients. As a result, credit unions tend to be more careful with their investments and to invest closer to home in ventures that will benefit their community.

Because of this, many community organizations, such as the Church of the Brethren, have formed their own credit unions. Credit unions are also helpful in developing countries because it allows wealthier members to invest their money within the community, which works to improve the financial health of the whole community. Plus, community, church, and non-profit group members just feel safer when they know that someone who knows them, someone who shares their ideals, is looking after their money for them.

If you would like to learn more about credit unions, the role of credit unions in international development, how credit unions are formed, the roles and responsibilities of credit union owner/clients, or how to form your own credit union, this website can help. We have complied a large selection of articles on the topic of credit unions. Perhaps you can use this knowledge to form a credit union for your church, non-profit group, or community so you can be just like the Church of the Brethren. Just mouse over the topics in the navigation bar at the top of the page to see a list of articles

Some businesses we know

Rotondi Mold Assessors
6 Richard Ave, Saratoga Springs, NY 12866, United States
(518) 852-9090

Bear Equipment Wire Rope Sheaves
48 Comet Ave, Buffalo, NY 14216, United States
(716) 875-9441

Adelaide Barks Dog Daycare and Boarding
23550 Highbury Ave N, London, ON N0M 1P0
(519) 854-1214

Security Guard Group Limited
341 Talbot St Unit V304, London, ON N6A 2R5
(226) 667-5048

Security Guard Group Limited
Two Morneau Shepell Centre, 895 Don Mills Rd. #9FL, Toronto, ON M3C 1W3
(647) 366-9873

The Resurfacer Barn Painting
1673 Richmond St #145, London, ON N6G 2N3
(519) 694-3045

Cremation & Celebrations London
21574 Richmond St, Arva, ON N0M 1C0
(519) 963-4003

Uptown Yonge Dental
2717 Yonge St, Toronto, ON M4N 2H8
(416) 487-3333

Builders Choice Air Systems Ltd Heating and Furnace Repair
492 Hill St, London, ON N6B 1E7
(519) 642-7000

Boutet Family Law & Mediation
130 King St W #2300, Toronto, ON M5X 1K6
(416) 408-0444

Glenn D. Godfrey & Co. LLP
3rd Floor, 35 Barrack Road, Belize City, Belize
+501 223-3530

Scarfone Hawkins Law Firm
1 James St S 14th Floor, Hamilton, ON L8P 4R5
(905) 523-1333

TPI Personal Injury Lawyers
2800 Skymark Ave #503, Mississauga, ON L4W 5A6
(905) 361-1500

Atlantis Pools & Spas
23550 Highbury Ave N, London, ON N0M 1P0
(519) 471-2058

Trinity Family Dental Clinic Whitby
185 Thickson Rd, Whitby, ON L1N 6T9
(905) 579-5551

Commercial Painting & Renovations Ltd.
2339 Ogilvie Rd, Gloucester, ON K1J 8M6
(613) 769-3435

Purple Bean Media
446 Grey St Unit #302 B, Brantford, ON N3S 7L6
(226) 920-9850

Cannect Home Equity Loans
1006 King St W, Toronto, ON M6K 3N2
(416) 214-9000

Cannect Home Financing Mortgage Broker
81 Navy Wharf Ct, Toronto, ON M5V 3S3
(416) 766-2666

Cannect Private Mortgages & Small Business Loans
33 Gladstone Ave, Toronto, ON M6J 3K7
(416) 766-2666

Abba Pump Parts & Service
5370 Munro Crt, Burlington, ON L7L 5N8
(905) 333-2720

Copyright (c) 2008 -