PEWAUKEE – Credit unions have saved consumers over $1 billion since the beginning
of the recession while helping Wisconsin citizens
improve their personal financial management.
Credit unions’ consumer-ownership allowed them to
volunteer more than 40,000 hours to community
organizations and raise more than $1 million for local
causes in 2014 alone.
The Wisconsin Credit Union League’s 2014
Scorecard, a report detailing credit unions’ economic
impact and social responsibility, describes these and
many other valuable impacts Wisconsin’s credit unions
provided in the past 12 months.
The Scorecard also cites credit unions’ leadership as
youth financial educators. They operate more than 100
in-school, student-run branches that instill saving
habits and engage tens of thousands of students in
financial education by providing 16,000 personal finance
magazines that help high schools teach money management.
Students even benefited from $200,000 in credit
Additionally, credit unions granted small, low-interest
loans as an alternative to costly payday loans, issued
$12.8 billion in safe and affordable mortgages, and
offered members 30,000 no-fee ATMs and 5,000
branches through a nationwide collaboration to improve
convenience. All told, a young person in Wisconsin
stands to save $117,000 over a lifetime using a credit
union for borrowing and saving.
Since the start of the Great Recession, credit unions
also increased their small business lending by 94
percent, offering close to $3 billion in small loans to
compensate for a lack of available business credit
the Scorecard at www.theleague.coop/Scorecard.