Each year in mid-October, Call Federal joins their credit union brothers and sisters around the world in celebrating International Credit Union Day (ICU Day), raising awareness about what it means for members have a credit union as their financial partner.
Amidst the COVID-19 pandemic, credit unions have stayed true to their cooperative principles and stepped up during this time of economic uncertainty. This year’s ICU Day theme “Inspiring hope for a global community” reflects how credit unions contribute to a brighter future by providing financial empowerment to people all over the world through financial services, education and support.
Call Federal & The Credit Union Movement
As we celebrate International Credit Union Day, we wanted to share the credit union difference, and how we set ourselves apart from your everyday banking.
Open Membership, Community Focused
At Call Federal, our community charter allows us to offer membership to anyone who lives, works, and worships in the Greater Richmond Metro area. We are proud to be the second largest credit union in Richmond. Call Federal takes pride in giving back to our community. As we enrich the lives of our members and the community in which we live, we create a more sustainable economy in and around Richmond.
Of the Members, By the Members, For the Members
Founded in 1962, Call Federal Credit Union is wholly owned by its members, who elect a volunteer Board of Directors from the collective, whose purpose is to ensure the organization is operating in the best interests of the membership.
Unlike our bank counterparts, credit unions are not-for-profit financial institutions. Our excess income is paid back to our membership in the form of lower interest rates on loans, minimal fees, and dividends. The credit union cooperative structure allows us to operate as a member-owned institution, independent of external shareholders.
A Mission of Service & Education
As it says in our mission statement, our priority is the financial health of our members. We demonstrate this through our ongoing workshops, our team of Certified Credit Union Financial Counselors, our Money & Beyond portal, and this blog, just to name a few. Call Federal also prioritizes the training and education of its board members and staff.
Cooperation among Cooperatives
Strengthening the cooperative movement is important to all credit unions. Here at Call Federal we actively support working together with other cooperatives by participating in share branching. You can find out more about the shared cooperative here.
Those are just a few of the ways we live our mission and uphold the standards of credit unions worldwide, commemorated annually on International Credit Union Day. To our members, we thank you for your membership as we couldn’t be here without you. And if you’re not yet a member, visit your nearest branch and ask how you can become a part of the Call Federal family.