Credit Unions From A Members Perspective

If you hadn't noticed, it's March now and that means, in Kansas at least, that it's time for the annual meetings for the various credit unions.

As you are probably aware from the massive promotions (over the years), credit unions are not-for-profits, and owned by the members that they serve. That means they answer to their customers (aka members) rather then some board of directors (like banks do).

So once a year, each credit union organization has an annual meeting and invites all the members to come. The meetings are usually brief. The purpose of the meeting, is for the members to elect the particular credit unions board. Occasionally, the meeting may be considered for the weightier decision of whether or not the organization should merge with another.

From there the meetings vary, but in one way or another they all have door prizes. Educational credit Union that I attended last night gives a gift to everyone as they leave. Tucked inside is cash in varying amounts.

If you are lucky enough, you will get a $50 bill. If not, you still get at least get $5. (see picture for what I got)

Later in the month, another credit union that I am a member of gives out prizes by playing bingo. Another does it similar as ECU did last night, but there they give the prize to you as you enter. However, there the cash is only to a lucky few. Actually, if you are lucky enough to find a colored piece of paper with your gift, then you get to turn it(the paper) in at the end of the meeting for cash.

Finally, the fourth credit union I am a member of has drawings. Upon entering you are given a kids or adults ticket (based upon your age) and at the end of the meeting, they hold two sets of drawings (one for the kids and the other for the adults).

The Credit Unions I am a member of & their meeting dates:
Educational Credit Union (ECU) March 11
Credit Union 1 of Kansas (CU 1) March 19
Kansas Super Chief (KSSCCU) March 23
Credit Unions United March 25


If you are fairly new to this blog, you may be wondering, why I am a member of 4 credit unions. The answer is simple. Instead of having budget envelopes laying around my home, I have budgeting accounts.

There isn't much in any of these accounts (at present), but now that I am on the verge of debt elimination to becoming a saver, that will change. I am looking forward to seeing these accounts grow. Especially, that emergency fund, which my initial goal (after getting back my $1000) is to get it up to $5,000. Ultimately, I want at least 6 months income in each of these accounts.

In addition, I would like to see $1,000 each year in my Christmas Club account (currently at $60.02).

Another thing to help my budget that I would like to take a look at is a health savings account. ECU announced last night, that they will be developing those.

Will that kind of account work for me? I don't know, but I would like to discuss this with them.

This years gift from ECU (as pictured) was a LED flashlight. As you can see (in the picture) I was lucky enough to get $20 with mine. hooray.

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go ahead share your thoughts with me now.