Piggy Banks

by Julie Frankovich, Business Development Representative, City County Federal Credit Union

Do you ever wonder why people keep their money in a little swine shaped jar called a Piggy Bank? As I recently learned from the Savasaurus* newsletter, the origins trace back to Roman times when frugal citizens would store their coins in vessels made from an ironrich substance called Pygg clay. Now, if that wasn't your first thought, you're not alone.

At City County Federal Credit Union, we offer the average person an alternative to piggy banks. Credit unions are member-owned financial cooperatives that are run, unlike commercial profit-driven banks, on a not-for-profit basis. Commercial banks work to make the most profit for their stockholders. A large proportion of that profit comes from fees and penalties paid by the average bank customer, who is most likely not a stockholder, and the amount of these fees and penalties continues to rise at a staggering rate. By joining CCF, the average bank customer becomes one of the credit union's member-owners. At CCF, member-owners see better returns on savings and investments, lower interest rates on loans and fewer fees than at a commercial bank.

Visit www.ccfcu.org to discover more about the cooperative credit union advantage, or stop by one of our eight conveniently located neighborhood branch offices.

*CCF's children's club for members twelve years of age and under.