2018 Annual Meeting Invite
05/01/2018
Fort Community Credit Union Annual Meeting on Tuesday, May 15th ensures local people benefit from their banking. Gathering will celebrate how members- not outside investors- benefit from owning their local financial institution.
Jefferson, WI – When Fort Community Credit Union (FCCU) holds its annual Meeting at 4:00 p.m. on May 15th in the Puerner Room in the Jefferson FCCU Branch, it won’t be just a few investors sizing up their profits. It’ll be a wide diversity of local neighbors celebrating the savings they receive by owning a financial institution where they borrow and save.
That’s because credit unions, which are not-for-profit financial institutions owned by its member-owners, return profits to all of their accounts holders in the form of lower rates on loans, higher returns on savings and lower and fewer fees. In 2017, credit union members across Wisconsin saved over $205 million from loan rates, over $20 million from interest rates, and over $15 million in banking fees, and according to the 2017 Wisconsin Credit Union League scorecard.
Giving all members a say ensures that the credit union’s practices and policies favor members- a concept that’s grown important to consumers disgruntled by the typically high cost of banking.
“With credit unions, if you have an account with us, you are a member-owner, regardless of how much you have on deposit,” said Sue Johnson, CEO of FCCU. “Unlike for-profit institutions, credit unions are not for profit, but for service. Our Board of Directors consists of volunteer members that are voted on by our membership at our annual meeting.”
Collectively, Wisconsin Credit Unions returned more than $1 billion to consumers since the start of the Great Recession in 2007. The Scorecard for Wisconsin Credit Unions- at www.theleague.coop/scorecard- explains more.