Georgetown University Alumni and Student Federal Credit Union (GUASFCU) was established almost 35 years ago in order to provide financial services to its members as well as offer valuable business experience for its volunteers. Over half of the student and alumni population at Georgetown choose to do their banking with GUASFCU, and students apply for competitive intern positions with GUASFCU as early as their first semester on campus. So what makes this credit union so unique?
GUASFCU is the largest financial institution in the country that is entirely run by students. This means that all positions at GUASFCU, from the tellers to the CEO, are held by Georgetown undergraduate students. Imagine a vice president of human resources looking at a job application from a prospective Georgetown graduate who has already served as a vice president of human resources. That interview would certainly be unique, and this sort of situation could happen for students involved with GUASFCU! In their freshman or sophomore years, students apply for internship positions with GUASFCU, and successful candidates have the ability to learn valuable skills, from mastering the art of financial transactions as a teller, to taking on leadership positions by joining the Board of Directors or Executive team. The network of diverse alumni from GUASFCU is also an invaluable asset to current students. With applications for GUASFCU internships for the spring semester kicking off this week, highlighting the unique opportunities for students to learn about the credit union movement via involvement with GUASFCU is a must!
Credit unions are not-for-profit, member-owned financial institutions whose business practices differ tremendously from traditional banks, yet offer the same kinds of banking and financial services. When you become a member of a credit union, you own your banking experience. Literally! Credit unions operate for the benefit of their account holders because these members are the owners – not outside investors, as you would find owning and benefitting from the doings of traditional banks.
Interested in learning more about the credit union difference? Your workplace, school, municipality, or religious group might offer you membership in a local credit union. Find the best one for you here! The following websites are great resources to learn more about credit unions and discover why you should choose to move your money to a credit union!
- Credit Unions & Financial Cooperatives from Cooperatives for a Better World
- Credit Union National Association
- National Credit Union Administration
- National Association of Federal Credit Unions