Supporting Local Has Never Been More Important
Given the unique events of 2020, businesses have been forced to think and work differently. We are seeing a lot of our hometown stores struggle in this environment and we might be asking ourselves: “We don’t want to see our favorite small-town businesses struggle and close… we want to help; how can we help?”. Allegan CU has changed a ton of processes, helped our members by skipping the May and June loan payments, and lowered our lending rates to try and save you money! While the big banks pull stakes and replace with ATMs, we want to go in the opposite direction and add more support. Local credit unions are not-for-profit, headquartered near you where we get to add jobs to our communities and reinvest your money in your immediate area. Because of all this, I thought I would write to share some of the best ways you can help support YOUR local credit union. The beauty with this support is it should be a win-win-win for you, the credit union, and our community.
1. Refinance your loans with us
By far, the largest way our credit union generates revenue is through interest on loans. We have low rates and a constant campaign of rate matching/automatic payment discounts to make sure we save you money. We are also more lenient with loan decisions if there are some dents in your credit and will also work with you to help improve your score. We can lend in all the same ways as the big banks and probably a bit cheaper, friendlier, and quicker.
2. Take a digital step forward
Do you get a paper statement or notices? Do you use cash? Do you call in to verify balances? Over the past few years, we have invested in improving our digital presence and services to help you. Things like e-statements save postage, debit cards earn the credit union money, and our mobile app allows you to do the same banking but at your own place, pace, and convenience. These digital services save/make the credit union money and keeps everyone safer by staying socially distant.
3. Tell your friends
The credit union movement is alive and well. We truly are here to practice living our mission of people over profit, relationships over revenue, and community over credit score. We know the products and services we offer are built to make things cheaper and easier for you. If you feel we fulfill this mission, telling your friends helps us grow tremendously and allows us to continue reinvesting in you and our community.
Through all this craziness, we have so much more appreciation for the people to the right and left of us. We will continue to work as hard as we can to serve our communities as best we can. Thank you for your support and efforts to keep Allegan Credit Union around for another 75 years and beyond to serve you!
Written by: Chris Harris, CFO