Credit Union 24 has announced that three more credit unions have joined the network. The addition brings 35,000 more credit union members and 225 million more in assets to the national credit union-owned ATM and EFT network.
The three credit unions are the $116 million Ohio Educational Credit Union, the $23 million Columbia-Greene Federal Credit Union and the $100 million U.P. Catholic Credit Union.
In 1953, the Rector of St. Peter's Cathedral in Marquette, Father Nolan McKevitt, noticed loan sharks and pawn shops were charging as much as 33% interest to people borrowing money. Striving for change and to help the members of his congregation, McKevitt introduced the idea of a credit union to allow members to use their money on a democratic basis and improve their financial situation. With the support of other parishioners, St. Peter's Cathedral Credit Union was organized with a state charter on Sept. 2, 1953.
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"U.P. Catholic Credit Union was created to protect our members from unnecessary financial setbacks, such as unreasonably high loan rates and extremely low interest rates on savings," said Tom Blake, CEO of U.P. Catholic Credit Union. "Credit Union 24 mirrors our philosophy by offering affordable, flexible EFT services, including extensive point-of-sale coverage and the largest surcharge-free ATM access, which greatly supplements the value and convenience we provide our members."
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