Protecting Credit Unions: The Importance of Tax-Exempt Status
Telling Difficult Stories One Video at a Time
As a service member advocating for post-traumatic stress disorder (PTSD) victims and military sexual trauma (MST) survivors, Tara Neitzel’s compassion for others shines through. For years, she has helped fellow service members express complex emotions and process sensitive experiences through creative multimedia. While initially focused on producing personal videos for service members, an unexpected diagnosis inspired her to embrace a new community of brave individuals.
Credit unions are renowned for offering an array of benefits over traditional banks, one of the most notable being lower fees. Unlike banks, credit unions operate as not-for-profit entities, owned by their members. This fundamental difference in structure means that credit unions prioritize serving their members' interests rather than maximizing profits. This translates to lower fees for services and potentially higher earnings on deposits for members. In contrast, banks often have higher fee structures designed to generate revenue. Understanding this distinction illuminates why credit unions are often preferred over banks.
Are Credit Unions Not-for-Profit Organizations?
In the vast landscape of financial institutions, credit unions stand out as community-centric alternatives to traditional banks. Owned and operated by their members, these financial cooperatives prioritize serving the financial needs of their communities over maximizing profits. If you're curious about what sets credit unions apart from conventional banks and why they might be worth considering for your financial needs, you're in the right place.
Dear Valued Members,
As we step into the New Year, I want to take a moment to express my deepest gratitude for your continued trust and loyalty to Logix Federal Credit Union. Your support has been the cornerstone of our success, and it's my pleasure to share with you some highlights from the past year and what’s ahead for 2024.
