Member-centric credit unions help lower financial stress levels

Community-building credit unions can be a solution to financial stress and its effects on people’s overall well-being, according to an op-ed published Friday in Forbes. Shane Enete, a Biola University professor who specializes in financial well-being research, says credit unions can help people feel connected and less alone on their financial journeys in Forbes.

Enete shared Community Financial Credit Unions, Vantage West Credit Union, and SchoolsFirst Credit Union as examples of how credit unions work to tailor services to the community they serve.

“In all of these cases, credit unions not only help individuals, families, and communities recover from challenging situations and rebuild, but they also help alleviate the financial stress that so often exacerbates feelings of loneliness and isolation,” he wrote. “By meeting people where they are, with empathy and personalized support, they offer more than financial relief they offer belonging, dignity, and a sense that you’re not alone.”

That message—the power of the credit union difference to transform people’s lives for the better—is central to the Don’t Tax My Credit Union campaign, which is focused on telling Congress any change to the credit union tax status would reduce the ability of credit unions to change lives.

America’s Credit Unions data shows that when compared to banks, credit unions of all sizes make the majority of their loans to households, showing credit unions’ unique focus on Main Street.

The Don’t Tax My Credit Union Member Activation Program contains data, a press kit, and other resources to activate staff, boards, and members in support of the credit union tax status.

America’s Credit Unions Blog also posts regular entries about how credit unions around the country work to tailor products and services to their members.