A Note from the CEO
I had the pleasure of joining seven WECU employees and board members on February 15 as we visited state legislators in Olympia. Our goal was to advocate for the credit union industry and reinforce the positive impact that not-for-profit financial cooperatives, such as WECU, have in the communities we serve.
In 2016 Washington credit unions returned an average direct member benefit of $103 to each member, according to an independent analysis by ECONorthwest. Direct member benefits are calculated by accounting for differences in the pricing of not-for-profit credit unions that exist solely to meet their members’ financial needs and for-profit financial providers; meaning lower account fees, higher interest rates on savings and checking accounts and lower interest rates on loans. In addition, Whatcom County Credit Unions provided over 500 family-wage jobs to local families in 2016.
We at WECU believe deeply in the cooperative, not-for profit structure of credit unions and the direct member benefit and values they promote. Thank you to those that support the credit union movement, including employees, volunteers, members and legislators.