“Banks” and “banking” are words that we use on a daily basis to describe our services to our members. Now we’re told that using these words is confusing Canadian consumers.
Maybe Shakespeare said it best… “A rose by any other name would smell as sweet…” the names of things do not really affect what they really are. A bank is a bank and a Credit Union is something much more special.
We will have to divert precious funds belonging to our members so that you are not confused! Don’t be confused! To be clear, by accessing your account at the credit union online, you are not magically transported to an account of a BANK. You are logging into your CU account, not a place that you had thought was a bank, but was really a completely different kind of financial institution disguised as a bank. Clear?
As if you didn’t already know that a Credit Union is different! That’s likely why you opened your account with us in the first place. Because you knew there was a big difference. Do regulators really think Canadians are so confused that they cant tell a BANK from a Credit Union? Well, OUR members certainly can tell the difference. Our testimonials have proven that we stepped up when the BANKS failed our members. We gave free services and compassion when the BANKS charged fees and only saw the situation in black and white.
Our members know the difference between a bank and a Credit Union. And now it seems that the profits we are returning back to our members must be diverted into the costly task of fluffing a non existent “problem” into rigid compliance situation. There were no firm regulations to reign in the BANKING industry from over charging and other unscrupulous acts BUT… don’t worry! Regulations now exist so that you will be able to tell the difference between a BANK and a Credit Union. We know our members can tell the difference and won’t get confused. A Bank is still a bank and a Credit Union is still a financial institution that you can trust.
Together we are stronger.