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Friday, May 09
| Shirley's Share | | by Pastor Craig Shirley
Acts 4:32 reads, “Now the whole group of those who believed were of one heart and soul, and no one claimed private ownership of any possessions, but everything they owned was held in common.” It is the core verse upon which the Credit Union of University Lutheran Church of Hope was established more than 47 years ago (1960). The idea behind establishing a church based credit union builds upon our call to help; to reduce local charity, to financially strengthen members, to help build a habit of regular saving and to offer low cost loans to members for cars, household items, education and debt consolidation. A credit union takes in members’ savings and lends out money to those that need it among them – at low cost. Any money left over, after expenses of operation are covered, is divided among the savers as a moderate rate of interest. No individual makes a “profit” on this transaction. A board of directors is formed, separate from the church structure and people serving on such a board can gain important experience as lay leaders.
Why do I tell you about this? It is because our credit union closed this month after a meeting of the members voted to do so. It has been an important enterprise in the Southeast neighborhood and many people in the congregation have been thankful for it in times of need and change. And when one hears the basic principles – debt consolidation, low interest loans, charitable help that isn’t a handout- we realize that needs haven’t changed that much! But times have changed. It has been harder and harder to get volunteer help to maintain the hours of the credit union and to maintain the workings. So the decision was made to sell the credit union to a larger group called Spire.
I want to use my space this month to say a hearty “thank you” to all of the folks who have worked so hard to maintain this extension of our ministry at University Lutheran Church of Hope! I am not going to try to name those folks, because I would surely miss someone in the process, and there have been so many committed souls over the last 4 decades, but I want all of you to know how much we appreciate your dedication and commitment to this special task. It has been a unique pleasure to share with people that we have our own credit union, and there are many people who have been kept from “going under” financially by this work. So thank you for a job well done and for all the hours of dedication you have given to this enterprise. It is most appreciated. Pax
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