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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2019 - 2020 Regular Session


Posted: September 14, 2020 01:04 PM
From: Representative Robert F. Matzie
To: All House members
Subject: Resolution: Designating the week of October 11 – 17, 2020, as “Credit Union Week” in PA
I plan to introduce a resolution commemorating “Credit Union Week” in the Pennsylvania, observed during the week of October 11 through 17, 2020. 
Presently, Pennsylvania and New Jersey are home to more than 510 credit unions, serving the needs of 5.3 million members. These institutions take a different approach from traditional banks, combining the member’s personal resources with the leadership abilities of the board of directors, forming a cooperative that benefits all.
Credit unions are valuable organizations for many reasons. Forwarding their philosophy of “not for profit, not for charity, but for service” credit unions exist to unite like-minded individuals, working for a better financial and economic future. Rather than focusing on turning a profit for shareholders, credit unions concentrate their efforts on providing valuable financial services to their members.
Controlled and operated by their membership, credit unions act as financial democracies, affording a vote to each and every member. Financial education, lower than average bank card rates and low interest loans are just a few of the valuable benefits credit union members receive. Further, these institutions support and sponsor member’s charitable work, spurning involvement in local communities.
I hope you will join me in recognizing the value of Pennsylvania credit unions by supporting this resolution.

Introduced as HR1020