Terri Mickelsen Thoughts on Ethical Banking

As I approach the milestone of 40 years in the credit union industry, I find myself reflecting on my journey and the experiences that have shaped my career. My path began in New Mexico, where I dedicated 30 years to serving members in local communities. During this time, I witnessed firsthand the profound impact that the cost of financial services had on underserved and low- to moderate-income members.

Many individuals were just one unexpected event away from falling into a cycle of debt. Whether it was a flat tire, a sick child, a change in work hours, or any number of other life events, these seemingly small disruptions could have significant financial repercussions. Unfortunately, payday lenders often preyed on these vulnerable individuals, as did courtesy pay programs offered by financial institutions, exacerbating their financial struggles.

When we founded Clean Energy Credit Union, our vision extended beyond creating a financial institution that prioritized the well-being of our planet. We also aimed to support the financial health of our members. From the outset, we committed to practices that reflect our values: we have never charged NSF (overdraft) fees, we do not offer courtesy pay programs or payday loans, and we do not impose fees for transferring funds from savings to cover items in a member’s checking account. Our goal has always been to operate safely and soundly while continuously working to reduce costs for our members.

Our approach is deeply rooted in the principles of ethical banking, which emphasizes the importance of integrating ethical and socially conscious practices into financial operations. This philosophy has shaped our commitment to transparency, fairness, and social responsibility. By prioritizing the well-being of our members and the environment, we strive to create a financial institution that not only serves but also empowers our communities.

At Clean Energy Credit Union, we are committed to providing equitable access to credit and financial products that empower our members to achieve their financial goals. By eliminating predatory fees and focusing on the well-being of our members, we aim to create a supportive financial environment where everyone has the opportunity to thrive.

Thank you for your continued support and trust in our mission. Together, we can build a more inclusive and sustainable financial future.