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Celebrating the Credit Union Difference: Democratic Control

September 21, 2016

Finger Lakes FCU - Celebrating the CU principles. Democratic Control. Join us for international CU day on Oct. 20th.

We have less than fifty days before the Presidential election in the United States and “Democracy” is a hot word to be throwing around right now. In their fourth and third grade Social Studies classes, my children’s teachers are using the upcoming election as an opportunity to teach the children how every four years, American citizens exercise their democratic right to vote for a new President.

Credit Union elections do not work like Presidential elections. Each vote counts. And, the only reason members have the option of voting is a little Credit Union Principal we like to call, “Democratic Control.”

Democratic Control means one members, one vote. With equal opportunity for participating in setting policies and making decisions.

Credit Union Board members serve on a volunteer basis. They are elected to the Board of Directors on a term basis. Elections are held every year at the Credit Union’s Annual Member dinner and guess who gets to cast those votes?

YOU do!

Every member of the Credit Union becomes a part of the “Electoral Elite” here at Finger Lakes Federal Credit Union. Your vote is not sent to an electoral college that tallies the results and declares a final opinion. No. Your individual vote makes a direct impact on who serves on the Credit Union’s Board of Directors, and subsequently impacts the overall operation of the Credit Union. This means that even though you have trusted us with the care and keeping of your finances, YOU are still in charge.

If you’ve missed out on Credit Union elections in the past, then don’t miss our Annual Member Dinner held every March! Participating in your bank’s policies and making decisions in how your finances are managed can help you feel more secure and in-control of your financial future.

Every Credit Union has different voting mechanisms, but at every institution, all members get to decide how the Credit Union allocates resources in and around your community. That is one of the authentic Credit Union differences we will be celebrating at International Credit Union day on October 20th.