Missouri Farmers Union Credit Union Now Serving State Farmers JEFFERSON CITY, MO (May 19, 2005) – The Missouri Farmers Union Credit Union has officially opened for business, providing farmers and their communities with more financial options. MFU Credit Union is a member-owned, federally insured financial cooperative focused on the well being of farm families and rural communities. It is also the first state chartered credit union in Missouri to open its doors in seven years. Secretary of State Robin Carnahan was on hand today to announce the opening of the newest credit union. “This is a great example of Missouri’s farmers seeing a need and coming up with a solution. As the owner of a family farm, I am excited about the opportunity that this organization will offer to farmers and rural communities across the state,” said Secretary of State Robin Carnahan. “The credit union is a way for farm families and rural residents to re-invest their resources to create a viable, local economy for their rural communities,” says Russ Kremer, Missouri Farmers Union President and Chairman of the MFU Credit Union board of directors. “It will ensure family farmers and young people have access to credit to keep the state’s farming communities alive.” The credit union is a government chartered, not-for-profit financial cooperative, owned by its members and dedicated to serving its members financial needs. The credit union serves members of the Missouri Farmers Union, whose mission is to protect and enhance the economic interests and way of life of family farmers and ranchers and their rural communities. Missouri Farmers Union membership includes farm producers and consumers, and is open to Missouri residents who are interested in seeing family farm agriculture thrive. Headquartered in Jefferson City, the credit union also operates branches in Paris and Mountain View. Volunteers spent more than two years developing the credit union. Missouri Farmers Union members spearheaded the effort, in response to a growing need for financial services in Missouri’s farming communities. “Initially, the MFU Credit Union will offer share savings accounts and small loans,” said Steve Burdic, MFU Credit Union President. “As a member-owned institution, we will continue to add products and services to ensure our members receive the greatest benefit.” As of December 31, 2003, Missouri ranked eighth in the nation in the number of state-chartered credit unions. There are 179 state and federal-chartered credit unions in Missouri with 1.3 million credit union members. All credit union deposits are insured up to $100,000. ###
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