From Dale’s Desk: A Win-Win! Voted #1 in the Region
Wow! Thank you for everyone’s support in voting Ascentra Credit Union “Best Credit Union” and “Best Home Mortgages” for the 2018 Quad City Times Readers’ Choice Awards. We are humbled by the recognition and focused on living up to these awards by providing the best technology, products and services for our membership.
It’s very gratifying to lead an organization and work in an industry that exists for no other reason than to further the financial well-being of those we serve. Iowa Credit Unions have experienced strong growth over the past several years as more and more consumers understand the benefits of membership in a cooperative. Over the past decade, our economy has steadily rebounded from the financial crisis brought on by unscrupulous lending practices in the housing sector. Ascentra is committed to originating and servicing mortgage loans in our region. As one of the few local financial institutions that retains the servicing rights to the first mortgage loans we originate, it is no surprise that we were recognized in this manner.
Sadly, we’re beginning to see renewed demand for subprime first mortgage loans that led to the housing crisis. The “Too Big to Fail” large banking institutions continue to pose tremendous risk for our economy. The differences between large banking institutions and credit unions couldn’t be clearer. As not-for-profit financial cooperatives, credit unions are charged with providing financial services that are in the best interests of the members we serve. Chartered under the principle of people-helping-people, the vast majority of credit unions are locally focused and ingrained in their communities, and are led by a volunteer board of directors elected by the membership. Credit unions are also focused on the financial success of our member-owners while banks are focused on maximizing income for their shareholders.
It is a great time to be in the credit union business as the largest banks continue to be some of our best advertisement. What your financial institution does with your money matters. There is a reason we were voted “Best Credit Union” and “Best Home Mortgages” in the region. For us, it’s not just about saving our members money—it’s about doing what’s right. Don’t keep us a secret and do your part by referring family and friends to the best credit union around!