LEGISLATIVE RESOLUTION memorializing Governor David A. Paterson to
proclaim May 18, 2009, as Credit Union Awareness Day in the State of New
York

WHEREAS, It is the sense of this Legislative Body to honor and pay trib-
ute to those successful financial institutions that have had a profound
impact on the residents of the State of New York; and
WHEREAS, Attendant to such concern, and in full accord with its long-
standing traditions, this Legislative Body is justly proud to memorial-
ize Governor David A. Paterson to proclaim May 18, 2009, as Credit Union
Awareness Day in the State of New York; and
WHEREAS, Credit unions are not-for-profit financial cooperatives,
democratically owned, operated and founded by people working together
toward economic advancement, and are also led by a volunteer board of
directors; and
WHEREAS, Credit unions embrace a "people helping people" philosophy by
the pooling of personal resources and leadership abilities for the good
of the cooperative, which empower their members to improve their finan-
cial futures and to assist those in need; and
WHEREAS, Credit unions have championed the idea that people from all
walks of life should have access to lower cost financial services
offered by credit unions; and
WHEREAS, In addition, credit unions enable people to improve their
economic situations in 96 nations around the world, and at 476 credit
unions currently serving the financial needs of 4.2 million members in
New York State; and
WHEREAS, Credit unions also return any profits to their members
through lower-cost rates and fees, or directly through a dividend; their
members pay taxes on dividends and credit unions pay property taxes; and
WHEREAS, Guided by their not-for-profit cooperative philosophy, credit
unions have never granted predatory loans or loans that families cannot
repay; they have been and continue to be leaders in responsible lending
throughout New York State; and
WHEREAS, This Legislative Body is pleased to have this opportunity to
recognize the many valuable contributions credit unions have made to New
York State's communities, and to honor and express appreciation for the
continued service and commitment of credit unions throughout the world;
now, therefore, be it
RESOLVED, That this Legislative Body pause in its deliberations to
memorialize Governor David A. Paterson to proclaim May 18, 2009, as
Credit Union Awareness Day in the State of New York; and be it further
RESOLVED, That a copy of this Resolution, suitably engrossed, be tran-
smitted to The Honorable David A. Paterson, Governor of the State of New
York.