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An Issue Facing Credit Unions

From time to time, an issue comes along that is important to our industry and is worth supporting. I believe in the Cooperative business model and I believe the current effort by Coops4Change to encourage better representation for cooperatives on the board of the NCUA is important.  I’m encouraging all board members and staff to read and sign a petition at We The People, the official White House petitioning site.

Why this is important to our industry

Credit unions, in many ways, embody the same principles from which our country was born: "Of the people, by the people, for the people." The industry grew from banks unwilling to serve communities they deemed too difficult to serve. Communities gathered and in the spirit of cooperation formed credit unions to serve each other and to provide the same opportunities that they had previously been denied. Today, credit unions are at risk of losing that identity and the Seven Cooperative Principles that define them.
 
To preserve this spirit of cooperation and the importance of credit unions, let’s ask the White House to appoint Board Members to the NCUA who will retain the values of the industry and the Democratic nature on which it was founded. 
 
The text of the petition reads:
 

WE PETITION THE OBAMA ADMINISTRATION TO:

Choose NCUA Leaders who understand Cooperatives. We respectfully request that President Obama select NCUA leaders who understand the shared economic value for people and communities created by the Cooperative model.

Appointed NCUA governing leaders should hold to the same standards credit unions themselves follow. They should be motivated by the unique contributions and needs of a Cooperative business.

Credit Unions are Cooperatives built by members who fund them. They are democratically organized and operated. They adhere to the Seven Cooperative principles

1. Voluntary and Open Membership
2. Democratic Member Control
3. Member Economic Participation
4. Autonomy and Independence
5. Education, Training and Informatio
6. Cooperation Among cooperatives
7. Concern for Community

 

We are asking you to join us in petitioning the White House to appoint a leader who understands and will uphold these principles when governing credit unions.

If you agree, please sign the petition. Petitioning is easy but requires a few steps:

  1. Visit We The People
  2.  Create an Account
    You will receive a confirmation email with instructions. Please note, it may take a few hours to receive approval.
  3. Sign the Petition

Rest assured the process is secure, private and will take very little of your time. 

Thanks for your help.
     
Jack Peplinski
Jack Peplinski
President / CEO
Altra Federal Credit Union