A major shift is taking place in the financial services industry. Over the past 10 years, roughly 28 million consumers have chosen to use a credit union as their primary bank. And credit unions like Jovia Financial Credit Union in Long Island continue adding members at a record pace.
The reason? The perks of ownership.
“Our members actually own the credit union. And, as owners, they can expect a very high level of attention and services usually reserved for affluent customers at typical banks,” says Renu Dalessandro, Jovia’s Chief Marketing Officer. “Perks like lower rates on loans, higher earnings on deposits, surcharge-free ATMs, and personal relationships with our experienced, extensively trained staff are provided to everyone, regardless of the size of their account.”
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
People Helping People
Jovia is owned by its members, for the benefit of its members…not those of stockholders. Unlike traditional bank employees, Jovia professionals are not just order takers; they become personal advocates for members. Their only concern is how they can help members succeed.
“When I first became a member of Jovia in 1996, the thing I appreciated most was the difference I felt in the atmosphere when I visited the Valley Stream branch,” says Lou Panacciulli, a teacher and co-founder of The Nassau Pops Symphony Orchestra. “As soon as I entered, the first thing I was greeted with was a smile and a friendly hello.”
Jovia Members - Doing Well by Doing Good
Jovia members also enjoy the benefit of knowing that their credit union is contributing to the communities of Nassau and Suffolk counties. “Since 1938, making our communities a better place to live and work has been a part of our charter,”says Dalessandro.
Originally formed for educators, Jovia is best known for its active involvement in many educational efforts such as its scholarship and teacher grant programs, partnerships with local colleges and universities to provide financial literacy education, and sponsorship of the Long Island Music Hall of Fame Mobile Museum which brings music education to local schools. In April 2020, it will also present its first workshop on cybersecurity for schools and workplaces at The Space at Westbury.
Jovia has also become a leading player in many other community projects. For example, Jovia is the official credit union of the NY Islanders hockey team, the presenting sponsor of The Jovia Theater at The Space concert hall, sponsor of the Jones Beach Bandshell, sponsor of the Nassau Pops orchestra and title sponsor of the Long Island Marathon. It also supports various philanthropic efforts that include Special Olympics, The Maurer Foundation breast cancer organization, and United Cerebral Palsy to name a few. The credit union also supports sustainability initiatives as it recently installed electric vehicle charging stations at its Westbury headquarters that are free of charge to the public.
Credit union membership is a unique alternative for consumers as it provides greater value, more personalized service and a local focus you won’t find at big banks,” said Dalessandro. “At Jovia, our goal is to give our members a better banking experience while making this community a brighter place for everyone who calls Long Island home.”
This content was provided by Financial Service Directory. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.
-
Want to Earn $1 Million More Over Your Lifetime? Do ThisIt's simple: Go to college or a trade school. It's an investment that will pay huge dividends for the rest of your life. And the benefits go far beyond money.
-
What Impact Does Politics Have on Insurance?Some governors choose their state's insurance commissioner, while other states elect theirs, and that person has power over insurance issues, including rates.
