Washington Credit Unions Are Good For The State’s Economy
Washington’s Credit Unions have proved a critical role supporting the state’s economy, consumers, and local communities.
A 2022 independent analysis performed by renowned economists at ECONorthwest finds that Washington’s credit unions are essential to the state’s economy and delivered a total economic impact of $7.5 billion.
As not-for-profit cooperatives, credit unions reinvest their earnings into their member-owners, resulting in benefits such as lower interest rates on loans and better savings rates.
Credit unions not only serve their members, but also help drive local economies, which correlates to a positive impact for Washington. Credit unions’ not-for-profit, cooperative structure, local footprint, and community engagement drive a unique impact that benefits the economy and provides people with tangible financial services and benefits they might not otherwise have access to.
$7.5 BILLION IMPACT ON WASHINGTON’S ECONOMY
4.5 MILLION CREDIT UNION MEMBERS SERVED
32,000 TOTAL WASHINGTONIAN JOBS SUPPORTED
3,800 HOURS OF COMMUNITY SERVICE
OVER 37,000 HOURS OF FINANCIAL EDUCATION
Learn More & Download The Reports
Credit unions are essential in Washington. Their impressive economic and community impact has been documented in an independent analysis performed by economists at ECONorthwest and in a community Impact survey by GoWest Credit Union Association.ECONorthwest’s Executive Summary Community Impact Report