Advocating on behalf of credit unions is not specific to Credit Union Young Professionals, but it is very important to understand what it is and why we do it. Advocacy, by definition, is any action that speaks in favor of, recommends, argues for a cause, supports or defends, or pleads on behalf of others. Credit unions must advocate to keep our unique structure and ensure we can effectively serve our members. Credit unions were created with a stroke of a pen and can be taken away just as easily. We must advocate for that not to happen.
Credit unions are not-for-profit financial service cooperatives that aim to promote savings and provide access to credit for provident purposes. Members benefit from credit unions' not-for-profit nature through more attractive savings and loan rates, as well as generally lower fees. Credit unions are democratically owned and controlled institutions that take pride in their "People Helping People" philosophy. Credit unions have no outside stockholders, so earnings are returned to members through dividends on savings, lower loan rates, and fees or additional services.
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Voting is a fundamental right given to every U.S. citizen. Exercising this right gets your voice heard on various issues as well as your candidate choices. Supporting candidates that support credit unions is a great way to ensure credit unions can continue to help our members without Congress raising taxes or burdening credit unions with costly, unnecessary regulations. Visit creditunionsvote.com to register to vote or find candidates and your current elected officials.
PACs (Political Action Committees) are the legal mechanism that enables like-minded individuals (credit union employees, members, and volunteers) to pool their money to support candidates at the state and federal levels. PACs do not support candidates based on political affiliation. They are not red or blue. They support those who are friendly to credit unions which is a combination of red and blue... we like to say that PACs are purple.
Cornerstone has five registered state PACs: Arkansas Credit Union Political Action Committee (ARCUPAC), Credit Union Political Action Committee of Kansas (CUPAC KS), Credit Union Political Action Committee of Missouri (CUPAC MO), Oklahoma Credit Union Political Action Committee (OCUPAC), and Texas Cornerstone Credit Union League Political Action Committee (TCCUL PAC).