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Q. How does purchasing the name "Credit Union Centre" benefit me, or any other member? I paid for the building of the centre with my tax money, now I'm paying again with service charges. I thought "Credit Union" was about "by the people and for the people." Have the Credit Unions lost their focus?
A. This is a very good question and one we are glad to clarify. You are right, we purchased the rights to name the building, we did not buy the Credit Union Centre. We bought the naming rights of the Credit Union Centre for a 10 year period.
Like any other advertising or sponsorship decision, the member benefit is achieved by raising the profile of the credit union and our image in the community, as well as in Saskatchewan. A higher profile gives us more opportunity to grow. 50% of the provincial population belongs to a credit union, which means there is an excellent opportunity to attract interest from the 50% who do not belong. Young adults frequent Credit Union Centre so this opportunity is a great way to attract young members as well. Growing our business can increase efficiency and effectiveness which minimizes costs and improves profitability for all members.
The credit union system has a proud history in Saskatchewan. We have always been about ‘people’ and, as a result, have grown to be a large business entity in this province. We do feel a responsibility to the people of our province and have the financial ability to participate in large scale provincial initiatives.
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