Credit Unions Have a Positive Impact on Our Communities
As a credit union member, you’re in good company: over 132 million Americans have made the same wise decision to join a credit union.
Because credit unions are not-for-profit cooperatives, you’re a member and an owner. Unlike for-profit financial institutions that must pay stockholders, credit unions return benefits back to you, the member. That means you pay lower fees and get lower interest rates on your loans and credit cards.
More than 4.5 million Washingtonians and more than 2.3 million Oregonians are member-owners of credit unions. Here’s how credit unions as a whole helped improve their members’ financial well-being and the economy overall in 2022*:
- $424 million in direct member benefits, resulting in additional household spending that supported $584 million back into the economy
- 11,900 family wage jobs to Washington residents, who in turn each support another 1.7 additional jobs in Washington
- $7.5 billion in economic activity through combined wages, direct member benefits, and supply chain spending
- $203 million in direct benefits right back to members, resulting in additional household spending that supported $279 million back into the economy
- 6,600 family wage jobs to Oregon residents, who in turn each support another 1.8 additional jobs in Oregon
- $3.8 billion in economic activity through combined wages, direct member benefits, and supply chain spending
FIBRE FEDERAL & TLC:
Here’s how we directly impacted our local economy in 2022!**
- $14.3 million in direct member benefits to over 110,000 members
- 292 family wage jobs at the credit union and 703 total jobs supported by credit union operations
- $64.2 million in spending and compensation and $158.9 million total back into the economy due to credit union operations
We’ll continue offering products, services, and resources that improve our communities and make a positive economic impact. And we look forward to being your financial partner for years to come. Thank you for your membership and for being part of the credit union difference!
*Source: GoWest Credit Union Association and ECONorthwest