I applaud Mark Gordon for taking bold action to limit state deposits in Bank of the West after the bank declared it will limit business with oil, coal and gas companies. As CEO of Reliant Federal Credit Union I am proud of Reliant’s support of all Wyoming businesses, including the hardworking men and women of the many oil, coal and gas companies that operate in the state.
I encourage anyone thinking of divesting from the bank to look at their local credit union. Credit unions are not-for-profit financial cooperatives that provide lower loan rates, higher savings rates and fewer fees than traditional banking institutions. Credit union benefits for members in the state of Wyoming amount to $87 per member or $183 per member household. We are your best financial partner.
Currently state law prohibits state and county governments from depositing public monies in credit unions. This is unfortunate. We need our lawmakers in Cheyenne to change the law so that our communities can do business with truly community institutions – their local credit unions. Wyoming credit unions will never thumb their noses at the oil, coal and gas industry in Wyoming like others are doing. It’s time our state and counties had a choice where they do their banking.