Tuesday, April 10, 2012

 
For my Ideological Artifact I have chosen America First Credit Union's logo.

The logo it's self conveys volumes.  For some back ground, the credit union was established to service the federal employees stationed and working at Hill Airbase.  It's original audience was men and women in the service of their country.  Men and women that may say they put America first in their own life.  The symbol of freedom from tyranny and oppression, the eagle with its wings spread wide open crowns the logo.  As a financial institution this represents financial freedom from the fees, profit driven banks.
These symbols represent a much deeper more complex ideology.

Before I continue, I will say for my class mates benefit that there are some great advantages to Banks.  For some people they are the best option and provide a more appropriate set of services and products better designed for a consumer.  I will also say, the ideology of banks, a capitalistic system, is what our nation is founded on and I believe the best system for the majority of goods and services.  You won't hear any of that is an America First Credit Union Commercial.

The credit union ideology is based on a co-op system.  Simply put all involved in the credit union have a vested interest in the success and advancement of the entire financial institution.  As a "member" of the credit union you receive free or reduced rate services like checking, cashiers checks, low interest lines of credit. In addition, profits earned over and above the cost of running the credit union are split evenly among all members based the the level of investment, in the form of dividends.  The credit union's strategical plans are designed by a group of elected volunteers.  This board of directors set the course of the credit union and develop the business strategies of the company.  As volunteers you can rest assured they have the stability and interest of the members at heart.  They do not take unwarranted risks for the hope of big rewards for themselves.  The financial health of each of its members is the number one goal. 
As I searched for the correct "ism" to define to the credit union ideology I was reminded of the Bedford Falls savings and loan from "It's A wonderful Life".  The motto of the credit union is people helping people.  I would choose to describe the Credit Union as Democratic Socialism.

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