CBS Sunday Morning rebroadcasts story on credit unions and America’s Credit Union Museum June 23

CBS will once again air a story on credit unions that they first broadcast a little over two months ago.  That segment centered on a profile of a small credit union in Nebraska that serves the members of a single family.  It also featured an extensive interview with Peggy Powell, executive director of America's Credit Union Museum in Manchester, NH, who addressed the far more sizable national credit union movement and its history.  

The $515,543 asset credit union, run out of the home of the credit union's manager, Sue Cain, has 511 members in 22 states. The credit union is mostly a volunteer enterprise. Cain is a middle school math teacher; Dave Cain, chairman of the board, teaches sixth grade English; and Chief Loan Officer Art Peters works in construction.

The interview with Powell addressed the credit union difference from a perspective of the movement’s history and philosophy.  That difference is indeed significant, Peggy Powell told CBS Sunday Morning. "Banks have shareholders, and they have to satisfy their shareholders; credit unions are not-for-profit organizations," Powell said.

"That does not mean that credit unions don't make a profit," she added. "It means their profits are returned to their members."

To view the segment on the CBS website please click here.