I became interested in credit unions and cooperatives because they are business models that promote economic justice. I was looking for alternatives to the traditional banking system that today appears solely to focus on profits over people. Somewhere along the line the traditional banking industry stopped using sound financial principles and gambling became common practice.
I am not here to demonize banks. I am to here to speak about opportunity and choice. I think we are sitting in the middle of a pivotal moment in history where a social movement, Occupy Wall Street, has grown around ideals similar to the principles and values of credit unions and cooperatives. Millions of young people are becoming attracted to and invested in the idea of cooperation. These young people are taking a critical look at their careers and opting for a position that has a component of social good instead of just compensation.
What I see is that there are younger generations of people who understand that credit unions and cooperatives are viable financial institutions and business models. I believe the credit union and cooperative movement is growing and maybe doubling in size over the next five to 10 years due to this movement. My hope is that the credit unions and cooperatives see the intrinsic value in this movement and these young people.
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