... speaketh with tongue forked?
✅ One of the original, foundation principles of all credit unions was the concept of a limited-membership, financial cooperative - not serving the general public. The limitation was often phrased as "a group sharing a common bond". The "common bond" was most often focused on an employer, church, union or social group - with spouse and family included.
😎 The definition of "limited membership" has changed significantly over recent years; and has been one of the chief concerns over the future direction of SECU. In 2021, the SECU Board appeared to be going off half-cocked with aspirations of building a regional or national credit union empire at SECU - with member funds, without member support.
Stumbled across an excellent example of how "limited membership" has been effectively eliminated at many credit unions. The credit union is called Unify [link] which started out in 1958 as the credit union for Western Airlines employees. As you'll note from the "Do Good, Get Good" membership category, might just as easily call Unify the "Friends of Hobbs Credit Union"...
✅ Unify is no longer the exception among credit unions in terms of open membership eligibility. The question for SECU members: " Is this the model you hope your credit union will become?" Should you have a voice in that discussion, in that decision?
😎 You don't currently.
. .. is Calvin [& Hobbs] eligible as a family member?
