|Congresswoman Renee Ellmers and Truliant FCU President/CEO Marcus Schaefer.
Congresswoman Renee Ellmers (R-2) visited Truliant’s Asheboro Member Financial Center on Tuesday, August 13. The visit provided Congresswoman Ellmers the opportunity to discuss issues that are important to credit unions and explore opportunities that will allow us to continue benefiting our members.
Marc Schaefer, Truliant President/CEO, shared with Ellmers why credit unions are different. “The structure of credit unions allows us to provide benefits to our member-owners that others in the financial services industry are often unable to,” stated Schaefer. “Since we are owned by our members instead of stockholders and we are exempt from federal corporate income tax, we are able to return our earnings to our member-owners in the form of lower loan rates, higher deposit rates and lower or no fees, which makes our focus different. Consumers have a choice to choose which type of financial institution they prefer.”
Schaefer also explained that he would like to see all community based small institutions in the financial marketplace work together to come up with solutions that will allow all of us to better serve our members and customers.
The theme of working together was also echoed by Congresswoman Ellmers. She certainly understands how credit unions differ and are a vital part of the financial services market.
In addition to receiving information on how Truliant is helping working families reach their financial goals, Ellmers had the opportunity to meet credit union members.
North Carolina credit unions will continue with their Grassroots advocacy by hosting five more NC Congressional members at credit unions. If you would like more information on these visits or to learn more about credit union advocacy efforts, please contact Pam Melton, NCCUL Director of Political Affairs, at 919-457-9067