Northeast Credit Union Celebrating 80th Anniversary
Member appreciation events include car giveaway and a cupcake anniversary celebration
June 13, 2016
PORTSMOUTH, NH – Northeast Credit Union (NECU) is celebrating its 80th anniversary, marking the milestone with a series of community events, promotions, and giveaways, including a car giveaway on August 20 at the NECU headquarters in Portsmouth. Any new or existing member who opens a new account between June 13th and July 31st will be entered to win a 2016 Honda Accord LX. They are even giving away cupcakes to members at all branches on the organization’s actual 80th birthday, June 16.
“It is hard enough to survive 10 years as an organization, never mind 80,” said Northeast Credit Union President and CEO Timothy J. Collia. “We wouldn’t be here if it weren’t for our loyal members, from the first 10 who started it all in 1936, to the more than 110,000 members we serve today. So, in an effort to honor the past, celebrate the present, and foster the future, we are celebrating everyone who has helped make NECU so successful.”
NECU serves members at 15 branch locations in New Hampshire and Maine. That service extends to the communities the membership live and work in. All NECU branches support local organizations making worthwhile contributions in their communities, including Make-A-Wish New Hampshire, the Homeless Center for Strafford County, the Maine Credit Union League’s Campaign for Ending Hunger, the United Way, and Honor Flight New England, among others.
NECU also supports financial education for youth, supporting the New Hampshire Jump$tart Coalition, the Banzai financial literacy education program, and CU 4 Reality, a program that annually helps more than 40,000 students learn to manage their finances.
“We are always trying to find ways to help educate our young people,” Collia said. “And when it comes to our finances, it is important for everyone to continue to learn, regardless of our age. If our members are informed, they will make smart decisions, which benefit them and their communities. Part of that education is helping people to understand the true benefits of a credit union and what makes its cooperative business model different from a traditional bank.”
While banks are for-profit businesses owned by private investors and governed by boards of directors chosen by stockholders, credit unions exist to help people, not to make a profit. As a not-for-profit cooperative, NECU is member-owned and directed by volunteers who are elected by the credit union members. Each member has equal ownership and one vote, regardless of how much money they have deposited with the credit union.
Another significant difference between a credit union and a bank is that a credit union’s earnings are returned to all members in the form of lower interest rates on loans and higher interest on deposits rather than paid out to only a few in stockholder dividends.
“Our 80th anniversary celebration will continue through the end of the year, but our dedication to our members and the communities they care about, as well as our efforts toward promoting financial education, will never end,” said Andrea Pruna, Northeast Credit Union’s Vice President of Marketing.
About Northeast Credit Union
Northeast Credit Union (NECU) has been a trusted neighbor and the financial partner of choice for people since 1936. Our central focus is our members and the communities in which we serve. We have over $1 billion in assets and serve 110,000+ members at branches in Berlin, Concord, Conway, Dover, Exeter, Gorham, Lebanon, Lee, Manchester, Merrimack, Northwood, Plymouth, Portsmouth, the Portsmouth Naval Shipyard, and Rochester. We offer a full range of financial products and services. Along with traditional checking and savings accounts, they include mortgage and auto loans, investment products, business accounts, credit cards, and innovative online and mobile services. Come discover the difference at Northeast Credit Union, please visit www.necu.org, stop by one of our branches or call 888-436-1847 for more information. Federally insured by the National Credit Union Administration. Equal Housing Opportunity.