Reach Elevations CU directly at our new Web address: RealityCheck.coop

With the introduction of our new easy-to-remember Web address, you can now reach the website for your Elevations Credit Union by bookmarking www.RealityCheck.coop. That ".coop" extension is pronounced "co-op" as in "cooperative." And we chose that new URL extension because "co-op" aptly describes what we are as a credit union. We chose RealityCheck, our outstanding member education program, to highlight our mission to provide members the resources needed to promote financial well-being.

I've heard of .com, .gov, .org, but what is .coop?

Just as ".com" identifies commercial/business entities, ".org" identifies non-profit and not-for-profit entities, ".edu" identifies educational entities and ".gov" identifies governmental entities, the URL extension ".coop" identifies businesses that operate as cooperatives. Credit unions, like Elevations CU, are cooperative financial businesses (cooperative banks). Just like a food cooperative provides services and products very much like a grocery store, a credit union provides the same products and services as a bank. The key differences stem from our business model—the way we do business:

• A credit union is member owned — all depositors and borrowers own the credit union, not stockholders or investors.
• A credit union is democratic — every member has equal voice in electing the credit union Board of Directors whose primary responsibilities include representing the membership in policy decisions and ensuring the management of the credit union is operating the credit union appropriately.
• Credit union Board of Directors are unpaid volunteers with the same vested interest in the policies and success of the credit union as the general credit union membership versus a bank Board of Directors who have a financial interest that is significantly different than the typical bank customer or the average stockholder.
• A credit union's decisions are driven by value and service to the member versus a bank's decisions which are primarily driven by shareholder return.
• You must become a member to do business with a credit union versus a bank where anyone and everyone can become a customer — this membership criteria allows credit unions to offer better rates and lower fees and is one justification for our tax-exempt status.
• Better rates and lower fees offered by credit unions are a direct result of returning value to the membership versus a bank's practice of protecting and increasing shareholder returns.

Consumer information and financial services that meet your needs

One important way to put the cooperative power of Elevations CU to work for you is to take advantage of the useful consumer information available to you through our member education program, RealityCheck. Now getting there is easy: Just go to www.RealityCheck.coop and you'll find all our great member financial services and products.

 

Breaking news analysis prepared for Elevations CU by Remar Sutton & Associates, August 2005. All rights reserved.

RealityCheck Tip

RealityCheck breaking news may link to sites provided by a variety of sources. Even though we review sites for credibility and reliability, RealityCheck, of course, can't control advertising and other links on these sites. We advise ignoring pop-up ads, links to sales of products and service, and the like.