Democracy thrives when it is supported by a vigorous, informed, and engaged citizenry. Freedom, the hallmark of a thriving democracy, must be constantly exercised lest it wither. We are presented daily with myriad opportunities for this exercise of freedom, but often let them pass without consideration. When we ignore our opportunities to chose, our choices are made for us by others, and our democracy suffers.
The management of our finances is one of our most important responsibilities and one we must exercise regularly. It is also a responsibility many find confusing and intimidating because they have little experience with it and little support from their community for learning or sustaining fiscal responsibility. This is a problem with far reaching consequences starkly illustrated by record low rates of savings and rapidly increasing income inequality. This threatens the economic stability of our country and, because of our leadership position, the economic stability of the world.
We see a tremendous opportunity to restore the practice of individual fiscal responsibility, and in so doing stabilize the economy and reinvigorate our great democracy.
Our primary tool to achieve this enormous task is the humble credit union. As the National Credit Union Association says: "Credit unions are nonprofit, cooperative financial institutions owned and run by their members. Organized to serve, democratically controlled credit unions provide their members with a safe place to save and borrow at reasonable rates. Members pool their funds to make loans to one another. The volunteer board that runs each credit union is elected by the members."
While credit unions have lost their way, the spirit of their creation remains as compelling, viable, and essential as ever.
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