Alberta credit unions have launched a campaign to raise awareness of why they are a “compelling” alternative to traditional banks.
The inaugural #IRL (In Real Life) campaign was launched by Alberta Central, the central banking facility, service bureau and trade association for Alberta’s credit unions.
It will focus on bringing awareness to Albertans about credit unions and the benefits that becoming a member brings.
“We want to build awareness of what credit unions are, what they do and how they are different than traditional banks,” said Ian Burns, CEO, Alberta Central, in a news release.
“We are excited to launch this campaign and show Albertans – who are at any stage of life – why credit unions are a compelling banking alternative. Through this campaign, we want to break the misconceptions people have about credit unions being old school, unstable or behind the times when we, in fact, have been innovating the banking sector for decades.”
Alberta Central said credit unions, like banks, are financial institutions that offer a variety of products and services, from savings and chequing accounts to mortgages, loans and investments.
“The big difference is that the credit union business model was built for people and not for profits. When you join a credit union you become more than a member, you become an owner. Credit unions are governed by their members and committed to serving them and their communities. Members get to vote on a range of issues, including how their credit union reinvests capital into their community, and also receive a share of their credit union’s profits. In 2017, $79.8 million was shared back with members through patronage and share dividends,” said Alberta Central.
“Alberta credit unions are viable, secure and innovative financial institutions,” said Burns. “Albertans work hard for their money and credit unions work hard for Albertans. Credit unions believe customers deserve more out of life, which is why people actually receive more in return from credit unions than they do from traditional banks.”