 If
you want to know what a financial institution is really all about,
look at the bottom line. At your local bank or savings and loan,
one thing matters most of all: making a profit . Credit unions,
like Badger Campus CU, are nonprofit organizations.
Our bottom line is altogether different at Badger Campus Credit
Union . . . that's what makes us a friendlier, more customer-centered
choice for savings and borrowing.
Satisfied, financially secure members
are the bottom line that matters most to us.
Our goal is to meet the financial needs of the University of Wisconsin
employees and students and their families who make up our membership.
Since 1931 we've served the members of the UW employee family, getting
to know them personally and earning their confidence and have now
included students in that famly.
The purpose for founding the credit union was:
- To encourage thrift among its members
- To create a source of credit at a fair and reasonable price
- To provide an opportunity for each of its members to improve
the members respective economic and social conditions
Click here to view our Financial Statement
Chartered in November 1931, the very first board meeting of the
U.W. Service Credit Union was held on
12-18-1931 to set board member terms for 1, 2, & 3 years by
drawing names out of a hat. The credit union was started by 9 employees
out of the service building of the U.W.
By January 1932, the credit union had 42 new members and declared
its first dividend to be paid at 6% by the end of the year.
The work load had become too much for the volunteers by 1937, so
a part-time bookkeeper, Mrs. Leone Johnson, was hired and business
hours were 12:30-1:30. In December 1949, the office was relocated
from the service building to 1204 W. Johnson Street.
The first regular employee, Frieda Owen, was hired in January 1952
and remained an employee until December 1973. Upon her retirement,
Pat McGinnity managed the credit union from 1974 thru 1990.
When the credit union was first organized, it was mainly for service
building employees; but by 1958 was serving members in all departments
of the university. Therefore, to distinguish it from the UW Faculty
Credit Union, at the annual meeting on January 15th, a motion was
made and carried to change the name to U.W. Employees Credit Union.
I wanted to take a moment and give you some perspective
on how your credit Union is doing With all the news about
the mortgage crisis and stock prices falling and some large banks
stocks plummeting as a result, it’s no surprise people
are concerned about whether their deposits are safe in their
financial institution. Badger Campus Credit Union has avoided
the high-risk lending that has been behind the headlines, so
we are as safe and strong as ever. You can trust in Badger Campus
as a safe haven for your funds chiefly because we’re:
- Federally Insured. Just as the FDIC does for
banks , the National Credit Union Share Insurance Fund (NCUSIF)
insures a member’s savings up to at least $250,000 – with
higher total insurance coverage available if you have a combination
of individual, joint, trust and other types of accounts.
- Member-owned. Unlike for-profit banks that are
in business to return profits to stockholders, we are in business
to serve you the membership regardless of profits. Because
you our members own us, everything we do is in the best interest
of members. Our Board of Directors, volunteers elected from
within the membership, are always looking to ensure the safety
and security of your funds.
- Very Tightly Regulated. State
regulators routinely scrutinize Badger Campus Credit Union’s
performance to ensure we are secure, sound and meeting members’ needs
on an everyday basis. Along with this scrutiny our board have
a supervisory committee that also checks on performance on
a monthly basis.
- Few Mortgage Delinquencies. We
grant home loans so that members can afford the payments over
a lifetime, no matter how rates may change. This helps you
stay in your home and build real equity.
- Few Loan Losses. While many
people have had a hard time juggling their everyday expenses
in light of increased costs for goods and services , Badger
Campus has avoided much of the “collateral damage”;
members are still making their loan payments or working arrangements
with us and know that we have the money to lend when needed.
While times are hard please know that we
are here for you and will be for many, many years to come.
Sincerely,
Marcia Burkhardt
Marcia Burkhardt
Badger Campus Credit Union
President / CEO |
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Marcia
