Finance

More To Know About Denver Community Credit Unions

As an answer to the community members who need affordable credit institutions, the Denver Community Credit Union was formed. Since 1934 when the credit union was established, it has been at the fore of advancing their members financially and helping the community to grow.

Here are some things that are less-known about the credit union.

  1. Humble days: Not many know that the original board members took off with only a little sum of $50 as the capital. Pooled from all of them, these people were responsible for laying down the strong foundation on which the credit union thrives today. They were responsible for setting the focus as a community-oriented financial house that would do all it could to advance its members’ financial status. Notable names on that board include W.H. McNichols and F.L. Hays.
  2. National ranking: Earlier this year (2020), Denver Community Credit Union was ranked among the top 200 healthiest credit unions in the country by Depositaccounts.com. This ranking is important not just to the credit union, but also to members who trust it with their money. Why? The ranking is done based on the overall financial health, deposit growth, and loan-to-reserve ration.
  3. Services offered: By the Community Credit Union, a member becomes entitled to receive the following services: personal savings, personal checking, personal loans, personal line of credit, youth accounts, business savings, etc. among others. These services are geared toward giving the best financial experience to members.
  4. Access to higher and better savings terms: Members can get higher interest on their savings when they use the credit union savings service. This is one reason why savings accounts are increasing.
  5. The credit union is government-backed: Asides the fact that there are laws regulating the operation of credit unions, customers are assured that their deposits are secured. Deposits up to $250,000 are backed by the National Credit Union Administration (NCUA).
  6. Perks and benefits: Simply being a member can position one to enjoy grants and healthy loans or even scholarships. These and many more benefits keep the community development going, and helps to open up opportunities to the young ones.

Being a member of credit unions is beneficial. More so, being a member of the Denver credit union is an experience its members can always relish. The long history of the company and its commitment to community development is one the community cherishes.