A well written article (accompanied by terrific photography) showcasing four credit unions operating in the Niagara – Hamilton – Halton areas featured in Biz Magazine. Here is the link.
Each CEO discuss a brief history of their credit union and share some thoughts on credit union relevance. There are plenty of examples of community involvement and how credit union engagement is different from other organizations.
Kelly McGiffin highlights FirstOntario’s “smooth and exciting sailing” over the past eight years and explains why someone should consider switching from a bank to a credit union. He references the recent provincial government decision to increase deposit insurance to $250,000. He states “Good, solid banking products at good solid prices and the rest goes back to our communities.”
Meridian’s Bill Maurin discusses expansion plans and changes in their business model to accommodate product availability online. He says much of their success is because of local branch managers have the authority to decide what their communities need most.
PenFinancial’s ever smiling Bob Watson acknowledges they are not a big as some but have effectively carved out a niche by serving customers “exceptionally well.” He gives some examples that established the credit union as one who really cares about their members.
Doug Mann CEO of HMECU boasts they are the oldest original credit union in Ontario. Again his comments reflect the focus on the financial wellness of their members and their communities. The article highlights numerous causes and events HMECU supports, not just with money but with staff volunteers.
McMaster University business professor Marvin Ryder credits the cooperative banking campaign with raising credit union awareness. When Ryder is asked why do people join a credit union he says “They are not at bank. It’s just that simple.” “They’re a little more of people helping people.”