Help Us Build a Credit Union for Columbia!
Organized by: Lion Credit Union Initiative
The Lion Credit Union Initiative (LCUI) is a student-run initiative that has been working to establish a credit union for the Columbia University community (students, alumni, faculty and employees) for the last several years. As we have seen in other successful college campus precedents, such as the student-run Georgetown University Alumni & Student Federal Credit Union ($16.5 million in total assets), credit unions have the unique ability to make a significant and lasting impact on the communities they serve due to their not-for-profit status and democratic structure. As all the profits made by the credit union will be reinvested in the Columbia community, we envision the Columbia University Credit Union as an integral resource for the entire Columbia community. In addition to providing scholarships for students, loans and funding for clubs and organizations, and better fees and savings rates, the Columbia University Credit Union will serve as an open channel of communication for all Columbia affiliates to voice their interests and concerns regarding where they believe our profits should be directed.
The LCUI is currently in talks with two of New York City’s most successful credit unions regarding a parent credit union partnership. By establishing such a partnership, the LCUI will be able to accelerate the necessary approval process through the National Credit Union Administration, as well as obtain the infrastructural, technological and financial support needed for a strong and successful opening and foundation.
That being said, student autonomy and a Columbia-tailored focus has been and always will be a key part of the LCUI vision. We are currently seeking professional legal help that will ensure that our Columbia-centric vision is preserved in our negotiations, and we need your help in raising the funds needed to hire a lawyer to assist us in our negotiations process. Any amount of support is truly appreciated!