Building Bridges Together
Over the two decades I’ve spent in financial services, one of the things I’ve come to appreciate most about credit unions is our rich history. There’s plenty of places to learn about that history, and one of my favorites is at our headquarters in Medford, Oregon. Many of our meeting rooms are named after leaders of the credit union movement: Edward Filene, Alphonse Desjardins and Louise Herring to name a few.
One of my favorite people from that group is Roy Bergengren. While Edward Filene’s nickname is “the Father of U.S. Credit Unions,” if Filene is Batman, Bergengren is Robin. Together, they established credit unions across the United States and founded the Credit Union National Extension Bureau (now America’s Credit Unions). They also lobbied for the 1934 Federal Credit Union Act, which made it possible to form a credit union anywhere in the United States.
During that time, Bergengren served as the first editor of The Bridge, a precursor to Credit Union Magazine. In its first issue, he wrote:
“The credit union is, in fact, a bridge. It may be the bridge over which the tenant farmer travels the wide gap that separates him from ownership. It may be the way that opens the great land of opportunity to the wage worker, who finds his savings the ‘open sesame’ to broader possibilities for himself and his family.”
Before embarking on his self-titled “crusade” for the credit union movement, Bergengren was an attorney. I like to think that he saw law not only for what it was, but what it could do. His work reminds me of the purpose of our credit union: To partner with individuals and communities on their journey to financial well-being. Credit unions, like Rogue, have maintained from the past to the present that our purpose is deeply rooted in people helping people, in working together to build bridges to our goals.
Much like how Bergengren used law as a bridge to create credit unions across America, our operations are a bridge to community investment. As the credit union’s Chief Financial Officer, I often get to see firsthand how the bridges we build make a difference. Just last month we received confirmation that in collaboration with the Federal Home Loan Bank of Des Moines, Rogue will donate $800,000 to local nonprofits focused on housing and community development. The bridges created by that partnership will make a massive difference in our community.
Our scholarship program—now over 20 years old—is one of my favorite bridges that Rogue has built. Last year we awarded $31,000 to students pursuing higher education or vocational training, and we’re getting ready to announce this year’s recipients. I’m looking forward to watching each of them pursue their dreams.
The scholarships we award each year are just a portion of the funds we invest in local communities. In 2023, our charitable donations, sponsorships and scholarships totaled over $349,000, and that doesn’t include the money you deposited that helps other members get a loan.
Every dollar you deposit or borrow builds a bridge in our community. So whatever bridge you’re building—whether you’re buying a new car, financing your first home or building your savings—I hope you do it with pride. I hope you do it knowing not only that every dollar stays in our community, but that every dollar helps someone else build their bridge, too. That’s the credit union difference. When we work together, we continue the legacy of the leaders that started the credit union movement. Let’s make them proud.
