Royal Credit Union Earns National-Level Member Service Award
Royal Credit Union (Royal) has earned the second place national-level Louise Herring Philosophy in Action Member Service Award in the over $1 Billion in assets category. The award is made by the Credit Union National Association and reflects the good Royal has accomplished with Members and in the community. Royal won the first place state-level Louise Herring Award in Wisconsin, which qualified it for the national competition.
Royal has demonstrated excellence and lived its core values by eliminating 100% of punitive fees and achieving a total fee reduction of $6.7 million by eliminating fees ranging from $40 to fifty cents.
"We don't think you should have to pay us to use your money. It's not the right thing to do," said Rudy Pereira, President & CEO of Royal. “We are honored to receive this National recognition for the service we provide to our Members.”
This significant “give back” was supported by improved operating efficiency and a new project management framework. Members experience better rates on loans and investments - a nearly $7 million benefit that the credit union could have generated as income but chose instead to give back as an average of $43.75 per year to each Member.
Royal is also certified by the U.S. Treasury as a Community Development Financial Institution, providing greater access to financial services – like home and auto loans and financial education – particularly for people who are unserved or underserved, such as those with short or limited credit histories, or those who are lower-income.
The Louise Herring Philosophy in Action Member Service Award will be presented at the CUNA Governmental Affairs Conference in March 2017 in Washington, D.C.
About Royal Credit Union
Royal Credit Union is a federally insured credit union serving over 160,000 Members with 25 full service offices. Royal is driven by a core ideology which is built on strong purpose and values. Royal is certified by the U.S. Dept. of the Treasury as a Community Development Financial Institution (CDFI). You can open an account or apply for a low-rate loan at Royal Credit Union if you live or work in 18 counties in Western Wisconsin or 12 counties in Minnesota. Counties served in Wisconsin include Eau Claire, Chippewa, Barron, Buffalo, Burnett, Clark, Dunn, Jackson, Marathon, Pierce, Pepin, Polk, Rusk, St. Croix, Taylor, Trempealeau, Washburn, and Wood. Counties served in Minnesota include Anoka, Carver, Chisago, Dakota, Goodhue, Hennepin, Olmsted, Ramsey, Scott, Wabasha, Washington, and Winona. Realtors in the state of Wisconsin or Minnesota are also eligible to join the credit union. Visit rcu.org or call Royal Credit Union at 1-800-341-9911 for more information.