Support your local credit union, not your bank

by David Safier

Ex-legislator Phil Lopes, currently coordinator of the Tucson chapter of Progressive Democrats of America, sent an email I'm reproducing in full below. The gist: If you have your money at a bank, move it to a credit union. Mine is at Hughes Federal, which I have been very happy with. I still do some business with the credit union in Portland I used for 30 years. I've always had a nice personal feeling at both places.

After passively accepting ever-increasing mistreatment from big banks, activists, community groups and even some politicians are jumping aboard a broad, multi-stage “move your money” campaign designed to transfer bank deposits into community banks and credit unions. We ask Tucson PDA members to join the "move your money" movement.

The twin inspirations for this have been the Occupy Wall Street movement and its focus on the lords of finance, and Bank of America’s announcement of a $5 monthly debit card fee (later rescinded), charging customers to use their own money. House Democrats have asked Attorney General Holder to begin an investigation into whether big banks violated antitrust laws by colluding with one another over increased fees after the implementation of swipe fee reform from Dodd-Frank.

Credit Unions are member owned, and non-profit. You join it, you own it. Deposits are fully backed by the U. S. Government to $250,000 just like banks.

Tucson has many Credit Unions and many offer essentially the same banking services to members as banks. There are many Credit Union locations throughout Tucson.(see list below)

Credit Unions do differ in membership requirements, but these criteria have been more inclusive in recent decades and some only require local residency.

Loan opportunities for credit union members are usually favorable.If you travel much and carry a credit card or debit card not having your credit union branches nearby is not usually a problem.

In moving your money from a bank establishing an account at the credit union of your choice would be the first step, familiarizing yourself with their services (checking, interest accounts, credit and debit cards, direct deposits, bill paying, CD, money market and other investment opportunities, etc).  Transfer of an account to a credit union could be a single operation (cashiers check) or if warranted (due to CD timing constraints, for example) spread over a period of time.
Pam and I have been very satisfied members of Pima Federal Credit Union since the early seventies. Their customer service is outstanding and their loan rates are competitive.
Thanks to PDA member Wade Sherbrooke for doing the research and preparing this message.
Phil Lopes, Coordinator
Tucson Chapter
Progressive Democrats of America
Tucson PDA Blog: pdatucson.blogspot.com
PDA Website: pdamerica.org
Become a ¢hange makes CHANGE sustainer: https://www.pdamerica.org/payments/give/donate

Tucson Credit Unions
American Airlines Federal CU            3350 E Valencia Rd

Arizona Central Credit Union             2150 W Ina Rd;
                                                           787 S. Alvernon Way
Arizona State Credit Union                1001 N Park Ave;
                                                           6464 N Oracle Rd;
     777 S Alvernon Way

First Credit Union                               340 S. Stone Ave

Hughes Federal Credit Union             951 E Hermans Rd;
                                                            280 N Pantano Rd;
                                                            7970 N Thornydale Rd;
                                                            8701 S Kolb Rd;
                                                            3131 E Speedway Blvd;
                                                            971 W Wetmore
 
Pima Federal Credit Union                  231 N Pantano Road;
                                                            3730 N Stone Ave;
                                                            4841 S Overland Dr;
                                                            1177 W Silverlake,
                                                            2455 E Valencia Rd;
                                                            6510 N Thornydale Rd
 
Pyramid Credit Union                          5801 E Broadway;
                                                            4491 N Orcle Rd;
                                                            7740 E Speedway Blvd;
                                                            8235 S Houghton Rd;
 
Southern Arizona Communications CU  4850 S Park Ave

Sunwest Federal Credit Union           7725 E Broadway;
                                                           3615 N Campbell,
 
Tucson Federal Credit Union             3801 E Speedway Blvd;
                                                           1740 W Speedway Blvd;
                                                           8145 E 22nd St;
                                                           3755 S Mission Rd;
                                                           12100 N Thornydale Rd;
                                                           7216 N Oracle Rd
 
Tucson Healthcare Affiliates CU       5280 E Grant Rd
 
Tucson Old Pueblo Credit Union       2500 E 22nd St;
                                                          177 N Church Ave;
                                                          9725 E. Broadway Blvd
 
Tucson Telco Federal CU                4491 N Oracle Rd;
                                                         2850 N Country Club Rd
 
Vantage West Credit Union             2480 N Arcadia Ave;
                                                        1100 N Wilmot Rd;
                                                        2222 S Craycroft Rd;
                                                        2520 S Craycroft Rd;
                                                        3125 E Valencia Rd;
                                                        550 W Magee Rd;
                                                        7163 E Tanque Verde Rd;
                                                        7394 S. Nexus Rd;
                                                        801 E Speedway Blvd;
                                                        8290 N Cortaro Rd;
                                                        8465 E Broadway Blvd;