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After
several months of exposure to direct credit union feedback,
the following "short list" of cooperative principles was
adopted by the Georgia Credit Union League Board of Directors
in November 2001. It is anticipated that each individual
credit union will have unique motivational constructs, but
the principles enumerated below are considered to be fundamental
to the motivation structure at all Georgia credit unions.
- Members,
Not Just Customers - By joining a credit union, people
become member/owners. Members expect more value and deserve
more respect than is available in the typical customer
interaction at non-cooperative financial institutions.
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Democratic Control - Members have equal influence
in the voting process and equal opportunity to run for
election to the board. One member, one vote. Once elected,
directors have fiduciary responsibility to all members.
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Service Differentiates - Democratic control provides
a decision-making environment that elevates creating value
for the members above profit accumulation at the credit
union. It is the dedication to providing service that
differentiates credit unions from for-profit suppliers.
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"Profits" Belong to the Members - In order to grow
and provide new services, credit unions generate capital
by retaining a portion of earnings. These retained earnings
are used for the betterment of the entire membership.
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more information, call Georgia Credit Union Affiliates at (770)
476-9625 or (800) 768-4282, or e-mail Affiliates@gcua.org.
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