America’s Credit Unions Surpass 100 Million Member Mark
Anchorage, AK – August 12, 2014 – The Alaska Credit Union League (ACUL) is pleased to share that more than 100 million Americans – almost one in three – are now members of credit unions. This milestone was recently announced by the Credit Union National Association (CUNA), reflecting the strong membership growth credit unions have experienced in recent years due to increased awareness and broader membership eligibility.
As not-for-profit, member-owned financial cooperatives, credit unions are able to offer better rates, lower fees and member-focused service. “Credit union products and services saved consumers $8.5 billion in 2013. That benefit goes both directly to credit union members, because members – not stockholders – are owners, and to the American consumer overall because credit unions’ better pricing puts competitive heat on banks,” said Pat Keefe, CUNA senior vice president/chief communications officer.
Alaska is home to more than 446,000 credit union members. The benefits of credit union membership are tangible and measurable – CUNA’s Economics and Statistics Department estimates that Alaska credit unions provided over $66 million in direct financial benefits to the state’s credit union members during the twelve months ending March 2014.