Letters from Leadership | August 27, 2020

President’s Report Fall 2020

Tony Budet

The credit union movement took hold in the US during the Great Depression, a time when many struggling Americans received little to no help from traditional financial institutions. We were founded on the principle of people helping people, and that remains our top priority. Simply put, like every credit union, UFCU was founded on and built for tough times.

The global Coronavirus (COVID-19) pandemic has caused widespread financial hardship and uncertainty, but we are determined to travel every step of this road with you. You own us. Everything we are and everything we do is focused on creating a path to financial health and prosperity for each of you and your families.

In light of recent horrific racially motivated events in our country, it is important to stress the history of the credit union movement, which has always advocated for social justice and financial inclusion. Your credit union joins the Credit Union National Association in its national stand against racism and discrimination, which have historically served as barriers to financially healthy communities. UFCU continues to be diverse, inclusive, and proud.

Over 84 years, UFCU has clung tightly to its cooperative values while growing into a financially strong community partner serving more than 323,000 Members who regularly inspire us to foster opportunity, in both good times and bad. Perhaps because we were founded at The University of Texas at Austin, and because we recognize that education drives opportunity, the education community is extra special to us. We witness every day the positive impact education has on the quality of our Members’ lives and on the financial health of our communities. For these reasons, we partner with every university and college in our region and continue to prioritize their programs. They need our support now more than ever.

Since January, we have delivered a variety of solutions to address your most pressing financial needs. We also debuted PlanU, a convenient, digital program designed to help you reach your financial goals and more capably address life’s uncertainties. Our focus throughout has been on creating hope for the future and empowering you to achieve financial health.

I continue to be grateful for the opportunity to serve you and to work alongside our family of dedicated employees, who often display superhero powers to meet your needs. Together, despite great challenges, we continue to be a financially sound, growing, and vibrant organization that will always be all about you. We will get through this together. Stay well, and please reach out to let us know what we can do to help you. Thank you for your membership.

Warmest regards,


Tony C Budet

(This article originally appeared in the Fall 2020 edition of Currency Affairs.)