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The Vermont Foodbank and the VSECU: A Strong Partnership
Released by the Vermont Foodbank, January 23, 2007
Contact: Judy Stermer, Special Events/Public Relations Coordinator, VT Foodbank
Barre – Over the years, the Vermont State Employees Credit Union has been a strong supporter of the Vermont Foodbank’s charitable mission, through financial gifts and volunteer efforts. This year VSECU continued to support the Foodbank’s efforts to feed hungry families throughout Vermont by donating $6,500.
"We are proud to support the Vermont Foodbank because it does such extraordinarily important work,” said Steve Post, the VSECU’s chief executive officer. “By helping to feed Vermont families in need, its mission is closely aligned with the philosophy of this and all credit unions—‘people helping people.’ We hope that our donation will help the Foodbank continue its valuable programs to alleviate hunger among Vermonters.”
Christine Foster , interim Co-CEO of the Vermont Foodbank stated, “For thirteen consecutive years, the Vermont State Employees Credit Union has stood by us in our mission. We couldn’t be prouder of our affiliation with such a fine organization.”
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About the Vermont Foodbank
Located in Barre, the Vermont Foodbank is Vermont’s only food bank, and serves a network of 270 partners, consisting of food shelves, food pantries, senior centers, shelters and after-school programs, that assist 140,000 Vermonters each year. In 2005, the Vermont Foodbank distributed nearly 6.5 million pounds of food to its Network Partners around the state. Started in 1986, the Vermont Foodbank is observing its 20 th year of continuous operation. The Foodbank is a member of America's Second Harvest – The Nation's Food Bank Network (A2HN), the country’s largest charitable hunger-relief organization. For additional information about the Vermont Foodbank or to donate, please visit www.vtfoodbank.org. To volunteer, contact Patrick Gilbert at 802-476-3341, x127.
About the VSECU
A credit union is a not-for-profit financial cooperative that is owned and controlled by the people who use its services—their “members.” The guiding principles that credit unions were founded upon more than 150 years ago still remain strong at the Vermont State Employees Credit Union.
The credit union idea is a simple one: People should be able to pool their money and make loans to each other. In the early days of credit unions, those in need of borrowing relied on those who had saved. In return, the savers benefited from the repayment of the loan plus the interest. One hand helped another. It's no different today at the VSECU. VSECU members rely on each other. Together they pool resources so that each individual member is an owner and participant in our cooperative benefits.
The old credit union adages, "not for profit, but for service" and "people helping people" are the pillars of the VSECU’s cooperative philosophy. And indeed they are "people helping people." As a cooperative, a credit union returns its profits back to the membership in the form of higher dividends on savings and lower interest rates on loans.
Steve Post, the Vermont State Employees Credit Union’s chief executive officer, presents a check for $6,500 to Chris Foster, the Vermont Foodbank’s chief development officer. The donation will support the Foodbank’s work to distribute food to Vermonters in need.
