What do we do now that Bank Transfer Day has come and gone? Howdo we show what makes credit unions relevant to consumers today?Industry folks can clearly define the difference between a bank anda credit union. But if you ask the average consumer, what mighttheir response be?

I visited my local Occupy movement in Olympia, Wash. I askedthem what the difference is between banks and credit unions and howcredit unions could continue to show the difference in ourcommunities after Bank Transfer Day.

As we sat down to begin the interview, there was a leaflet onthe table explaining the difference between credit unions andbanks. Smiling inside, I asked Treacy, the local Occupy foodcoordinator, about his expectations of credit unions after BankTransfer Day. He shared that he had been a member of a credit unionfor years and is well-educated about the difference.

“Tell the public about the benefits of belonging to amember-owned cooperative. Continue to give back to your community,”he said.

“I know my credit union gives back, and I expect them to markettheir giving. Tell me, the consumer, about what you're doing. Iwant to be your champion. Keep actively sponsoring programs thatfill needs in the community.”

“We expect the credit unions to facilitate education programsfor unbanked, less fortunate people in our community who reallyneed it."

Three overwhelming themes: help educate people, keep caringabout what happens to other people and keep bettering ourcommunities. Consumers are demanding that we give back, that in allthree of these areas we serve our communities. These consumerdemands can be found in the very operating principles designed toguide credit unions.

The positive impact that a local cooperative has on eachrespective community should be measured by the level of engagementin local giving. Individuals have a responsibility to providesupport to each other in their communities and credit unions embodythat idea.

The idea of giving back is not a new concept, but what is new isthe consumer demand to put your money where your mouth is. Whatdoes your credit union have to show? How do you give back to yourcommunity? Your members want to know. 

Jessica Perschon-Rhodes is a team leader at Washington StateEmployees Credit Union, Olympia, Wash.
Contact 800-562-0999 x85105 [email protected]

The Crash Network is a grassroots organization composed ofseveral hundred young credit union professionals. Its activitiesinclude meetings, mentorships online collaboration and developmentprojects. Opinions expressed are the personal views of theauthor.