The P.A.

A weekly address from Patrick Adams,
President of St. Louis Community Credit Union

People Helping People

On April 21st, 2008, posted in: Uncategorized by

It’s fair to say the economy is tough right now. Gas prices are sky high. The cost of a loaf of bread is out of control. Childcare gobbles up the paycheck. And if our kids are older, college costs are hyper-inflated. Generally speaking, the dollar isn’t stretching as far as it did in years past. That’s where St. Louis Community Credit Union comes into play. Great value, with great service, is what we do. We want our members’ lives to be better – especially during the tough times.

When the paycheck is harder to stretch, the consumer tries to save a little more and borrow a little less. Without boring you with details, when consumers borrow less, it usually equates to a financial institution’s net income shrinking. In the for-profit world of our competition, they react by taking away even more from the general public than is normal. As an example, raising fees can be commonplace. Not us.

We like to think that our members’ hard-earned money should go toward making their lives better – now more than ever. The credit union would rather put the members’ money back in their pocket versus our bottom-line. We’re not about profit, we are about members. We figure we’ll take care of our members during the tough times by giving them the best possible rates and fees, and they’ll take care of us the rest of the time. In the spirit of credit unions, it’s a cooperative effort. We like to call it “people helping people.”

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