Georgia Credit Unions to Celebrate International Credit Union Month

Staff Report From Georgia CEO

Wednesday, September 30th, 2015

International Credit Union Month is this October and credit unions statewide are celebrating with a Switch-to-Save campaign. The endeavor aims to encourage Georgia residents to consider switching their loans from other types of financial institutions, to a credit union.  
The month-long campaign allows members and potential members to bring current loan statements to participating credit unions to evaluate whether switching will save them money. Some credit unions will also offer special loan options throughout the month.
International Credit Union Day is Oct. 15 and Gov. Nathan Deal has designated it Credit Union Day in Georgia. In addition to Switch to Save, many credit unions will hold festivities and customer appreciation events that day.
"Georgia credit unions offer advantages like lower loan rates, fewer fees and excellent service to their members all year round," said Mike Mercer, President and CEO of Georgia Credit Unions Affiliates. "International Credit Union Month is just one way for credit unions to highlight those benefits to people who may not be aware of the advantages of credit union membership, while also expressing gratitude to their current members."
Credit unions are not-for-profit, which allows the cooperative institutions to return earnings to their members in the form of lower interest rates on loans, higher savings deposit yields and fewer and lower fees compared to banks. Last year, Georgia credit union members reaped direct financial benefits of $129.9 million they would not have received had they conducted their financial business with a for-profit institution.

Year after year, credit unions receive the highest marks in the financial services sector. According to a recent report by Consumer Reports National Research Center, credit unions top all industries for great service. They also serve the greater community through charitable donations and volunteer efforts, raising $3.4 million for Georgia charities in 2014 and donating the equivalent of more than $593,900 in volunteer labor around the state.