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Local Credit Union Analysis

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In this time, it’s a popular opinion that millennials are lazy or entitled, and they are often held responsible for repairing an economical situation that has been jeopardized and deteriorated by our predecessors. Millennials, the name given to those born between the 1980s and the early 2000s, have had to grow up in a nation whose economy has been fragmented by the deliberate mistakes of the elite class - inept politicians and influential members of society - who controlled the economy and the policies that continue to work against the communal well-being of the people during the time of our parents’ and grandparents’ youth. And yet, regardless of the fact that these people are still in control, millennials are still the ones blamed.

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These institutions are created and operated by their members and profits are shared amongst the owners.” In other words, as opposed to big banks, whose focus lies solemly on extracting profits, credit unions are more interested in customer service and the overall well-being of their clients. To better illustrate their different approach to banking, I will share some of the things I learned during a talk from a local credit union in my economic alternatives class. First, it was evident that the women who work at the credit union, were not only praising their workplace in a marketing effort, but instead, because they truly love the way in which they are treated as employees, and also, the opportunity they are being given to help community members with their financial needs. Their level of engagement and the way in which they spoke about finding ways (within the system) to help each client, were indicative of the remarkable client and employee treatment which credit unions are known for. Another benefit credit unions offer which is worth noting, is their commitment to serving their communities. Before jumping to the conclusion that big banks also work to serve their communities, Elizabeth Friedrich, speaker at an Occupy Wall Street lecture, best explained what is meant by the phrase “serve their communities” in the following excerpt: “Credit Unions serve their local communities. This means that the money deposited by members, stays locally, to help build a stronger communities.” Said occurrence is relevant because today, we need alternatives that will help our local communities thrive; there is no room for big banks to continue ripping our communities

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