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Preserve Small Credit Unions, Keep the Industry Strong

Preserving small credit unions benefits the entire credit union movement.

By Cookie Yoder | Updated on April 15, 2016

I have worked for three different credit unions in the past 38 years, and I loved each of them. I can’t imagine myself doing any other type of work. Preserving small credit unions benefits not only small credit unions themselves, but also the entire credit union movement. I am the CEO of City Co Federal Credit Union, a small credit union with assets of $21 million, and a single sponsor serving the employees of Allegheny County with a low-income designation. We are very proud of the service we provide our members.

As I write this article I am coming to the end of proudly serving on the Pennsylvania Credit Union Association board of directors for 23 years. Although I am sad to be leaving that position, it is time to have new blood serve on the board of directors. We now have a 12-year board term limit in place. State associations are always there for their credit unions and can be their greatest resource, regardless of the credit union’s size. I strongly advise all credit union leaders to become involved and let their state associations know they are interested in serving on a committee. I also suggest they become politically involved. I am a strong believer that all politics are local. The state senator you help today could be your next congressman. All of these things can be done regardless of your credit union’s size, and are very important to the credit union movement as we all move forward. Get involved!

We have all seen many mergers over the years, and I believe it is important that we retain small credit unions as part of the credit union movement. All credit unions were once small. Plus, it is very difficult to start up a new credit union these days, so we all need to take extreme care to preserve credit unions that already exist.

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