Credit Unions: Kind of like kindergarten, minus the naps

International Credit Union Day has come and gone (it was awesome by the way), but why should the celebrations stop with just one day! You’re probably thinking, why would you want to celebrate banking anyways?

Because banking with a credit union is different. It is about cooperation. Equality. Democracy. And community. You work hard for your money. By banking with a credit union, your money will work hard for you and your community and you will be part of something bigger.

Back to the Basics

Cast your mind back to kindergarten. The year you learned that you could eat paste for lunch and show someone you liked them by wiping paint on their favourite shirt. That year you also learned some important lessons:

Cooperation and Community

The sandbox is a great time: lots of toys, heaps of dirt, plenty of possibilities for creating something epic. It would be pretty expensive if every kid in class had their own shovel and bucket though, not to mention unnecessary.  Instead, you learn to work together: borrow a shovel from Saleh next to you; Tilly borrows a bucket from you. Every one wins.

That’s kind of how it works at a credit union! When you invest in PenFinancial, you’re helping your neighbour fund their first mortgage and, when the time comes, they may help someone else do the same. It brings ‘sharing the wealth’ to a real level.

Equality and Democracy

Imagine the biggest kid in class got to make all of the decisions. That would not be fair! Just because Allison can reach the tall shelves now, she shouldn’t be able to tell everyone what to do in class.

At credit unions we don’t believe the person with the most money should dictate how everything is run. We believe in equality and democracy at PenFinancial: members are equal and everyone has an equal vote. Whether you have $100,000 invested or $10 in a chequing account, you are equally important to the credit union and its community and you have an equal say in how it is run. Just like your kindergarten teacher, Mrs. Navarro, our management, advisors, and leaders represent you and your need

The Bigger Picture

Credit unions put those early childhood lessons to work every day. As the Credit Unions of BC note, banking with credit unions allows you to be a part of your community instead of being a part from it. It lets you be part of something bigger as your voice is heard and your money is reinvested in the community where profits can be used to help others.

Focus on Niagara

PenFinancial Credit Union is the very model of a democratic cooperative dedicated to its community.

• Members are owners (not numbers) that help run the cooperative (your votes count).
• Financial advisors work to help you live better lives (not sell you products).
• Profits are returned to you with great rates, superior service, and community support (not used to build brands or corporate stocks).

By investing and banking with PenFinancial, you help a local credit union provide loans and mortgages to your neighbours and local businesses. Your money also helps the credit union invest directly in Niagara through its Community Investment Program.

In 2016, PenFinancial supported over 50 events and invested more than $100,000 in Niagara to fund education, social wellness, active communities, and economic vitality.

Put Down the Paste and Help Your Friends

If you want to be part of something bigger and better than bank profits, consider joining PenFinancial Credit Union. Bring your deposits. Bring your investments. Bring your hopes and dreams. Heck, bring your paste and your paint smock. Together we can create something bigger and better for Niagara.

You can also come out and support PenFinancial-sponsored events in Niagara. Check out this list. We hope to see you there!

• About
• Latest Posts

catherine.palmer@penfinancial.com

Financial Services Specialist at Dorchester Branch

For me, Niagara cannot simply be described as the place where I live and work, because in many ways it has shaped the person that I am today. I was born here, my husband and I purchased our first home in Niagara Falls, and it is within this community that we found a supportive environment to raise our three boys. As a Financial Advisor, it is truly rewarding to build meaningful member relationships and listen and guide my members so that I am providing them with the advice they need to improve their lives. read more

Latest posts by catherine.palmer@penfinancial.com (see all)

• Cold Feet and A Warm Financial Plan:Living happily ever after as a common-law partner - October 13, 2017
• Dream Weddings Don’t Have to Be a Financial Nightmare - August 28, 2017
• Vacationing on Veranda Beach:Where to Escape and Explore (on the cheap) in Niagara - May 18, 2017