Why FROG Switched to a Credit Union
Written by Shane Loorz
FROG recently switched from a large national bank to a local credit union. A number of financial and social considerations were discussed before a final decision was made.
As a socially responsible organization, FROG felt banking with a socially conscious credit union was more in line with our mission. By banking with a credit union FROG has cut overhead costs (as slim as they already are) and increased interest rates earned by funds which has allowed FROG to distribute more funds to its small grants program.
Additionally, credit union members have a say in the types of investments the union seeks. As a member, FROG can influence socially responsible lending and local development in the USA, just like it does in Guyana through its granting process.
We wanted to share this with you in an effort to keep you informed and our actions transparent.