CUs must find a balancing act.

Following an exciting day of celebrating the impact of credit unions around the globe, we were jubilant to recognize how many consumers had “found their platinum lining in credit unions” on the 70th anniversary of International Credit Union Day. Credit unions are growing! They’re improving their service to their communities!

And then we saw the news about a credit union that is being noticed for charging big bank-sized fees. It let a little air out of our celebration, honestly, but it also reminded us of a very important exercise in the Foundation’s Credit Union Development Education Program where we ask participants to determine if a credit union is focused on providing a social good or making a business impact. As you can imagine, there is a lot of debate.

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