Every decision at UECU is focused on how we can best serve and reward our membership.
Wyomissing, PA (PRWEB) September 20, 2012
Utilities Employees Credit Union, the billion dollar virtual credit union that serves the U.S. utility and energy sector, ranks among the best 1% of leading U.S. credit unions for the interest rates value and low fees it provides to its members, according to independent research firm Raddon Financial Group.
Among high-performing credit unions that participate in Raddon’s CEO Strategies analysis group, UECU ranks in the best percentile for the Raddon Membership Value Score, which quantifies the potential earnings a credit union gives back to its members through positive interest rates and fewer and lower fees.
“In 2012, a typical UECU member household will earn or save over $300 more than it would have with an ‘average’ credit union and an even greater amount than if the family had used a bank,” says Glen A. Yeager, UECU’s President and Chief Executive Officer. “Every decision at the Credit Union is focused on how we can best serve and reward our membership.”
As a financial cooperative with no stockholders and a low-cost model, UECU has gained recognition for its above-market savings rates, low lending rates, minimal fees and multiple customer rewards programs. As of mid-year 2012, Raddon reports that UECU member households are benefitting from an extra annual return of $231 in deposit earnings and loan savings, plus $72 more in fee savings, compared to the average credit union household. Last year, UECU also joined the less than one percent of the nation’s 7,000 credit unions to pay a bonus dividend, collectively rewarding its members with a year-end $1.2 million cash bonus.
Utilities Employees Credit Union maintains significant annual returns to its member-owners through the financial efficiency of its business model as a branchless, virtual credit union serving a nationwide membership from its single Pennsylvania headquarters. UECU has provided financial services to utility and energy workers and their families since 1934. Its membership includes the employees of 600 companies and members of Energy People Connect, an association for individuals currently employed or pursuing employment in the energy industry.
UECU is a full-service financial institution with member-focused savings, checking, lending, and credit card products, and three member rewards programs including its exclusive year-end bonus dividend. UECU also offers membership, financial products, and financial wellness education as a free voluntary benefit for utility companies to extend to employees and their families in order to promote financial wellness and enhance worker productivity.
For more information about Utilities Employees Credit Union, visit http://www.uecu.org.
Information about Raddon Financial Group and its standards for evaluating credit unions is available on their website http://www.raddon.com.