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Seven Principles Blog
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In 1844, a small group of weavers from Rochdale, England created the blueprint for how their newly-formed cooperative would operate and serve the local community. These values, known as the Seven Cooperative Principles, serve as the operating guidebook for credit unions and cooperatives throughout the world. This blog was created to honor that legacy and to showcase the everyday efforts of credit unions in the Carolinas that embody the cooperative mission and purpose.


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Next Top Credit Union Executive event includes Allegacy FCU's Garrick Throckmorton

Posted By Jeff Hardin, Thursday, September 03, 2015

Garrick Throckmorton, Allegacy FCU AVP of
organizational development, is focused on
developing a wellness culture as he competes in the
CUES Next Top Credit Union Exec competition. The
finalists for this competition will be announced later
this month.

Once again this year, CUES is hosting its annual Next Top Credit Union Exec competition. With the winner to be announced in just a few weeks, Among the contestants is Garrick Throckmorton, AVP of organizational development at Allegacy Federal Credit Union.

Throckmorton is among 15 contestants who remain in the running for the prestigious award. The final five will be announced by a panel of judges later this month. According to CUES, the event is an open to young credit union professionals, age 35 and under who have not yet reached the CEO level. The competition allows young credit union professionals to flex their creative muscles and show the credit union world what they are capable of.

Throckmorton's human resources career at Allegacy has been focused on developing a wellness culture versus a wellness program. As a result of his efforts, Allegacy achieved recognition in 2014 for being one of the top 100 Healthiest Workplaces in America, the only credit union in the nation awarded that honor. In addition, Allegacy was named the Triads Healthiest Employer in 2013, 2014 and 2015. Other wellness awards include 2014 American Heart Association Platinum Level Fit Friendly Worksite and Worksite Innovator Awards.

In the current phase of the competition, contestants created a blog post that captures their vision, passion and creativity. Throckmorton focused on his passion for wellness in his post, A Prescription for your future financial well-being. In this post, he focused on the financial resources older Americans will need in retirement by combining the knowledge bases of both the medical and financial advisory fields. 

The engagement each of the posts receives will largely determine the finalists. So you are invited to like, share and comment on Garrick's post!   

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Foothills Chapter hosting annual golf tournament in October

Posted By Jeff Hardin, Thursday, September 03, 2015

Principle Seven: Concern for community. Credit unions work for the sustainable development of communities through policies developed and accepted by the members. Credit unions seek to achieve a greater good through responsible corporate citizenship.

The Foothills Chapter invites you to join them for the 18th Annual Jerry Burnette Charity Golf Tournament. The event takes place Thursday, October 15 at the Catawba Country Club in Newton, NC.

Safe Harbor Rescue Mission is the beneficiary of the event once again this year. Safe Harbor is a faith-based organization serving the needs of women & children who are homeless, at risk of being homeless or are hurting. 

The event begins at 7:30 am with registration. The Captain's Choice format tournament is priced at $400 for a four-person team. Hole sponsorships are also available at a cost of $100. The event includes prizes, longest drive and closest to the pin competitions, and a silent auction.Lunch follows the completion of the event.

You can learn more or register by downloading the tournament flier. For questions about the tournament, please contact Jerry Gaillard ( or 828-568-1234, ext. 202) or Debbie Whittington ( or 828-568-1234 ext. 210) at Shuford CU.

Tags:  Foothills Chapter  Principle Seven 

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Heritage Trust dedicates Charleston-area's first in-school branches

Posted By Jeff Hardin, Wednesday, September 02, 2015
Updated: Tuesday, September 01, 2015

Heritage Trust FCU CEO Jim McDaniel cuts the ribbon on the new
Summerville High School branch on August 26. One night earlier, the
credit union dedicated another in-school branch at Goose Creek HS.

Heritage Trust Federal Credit Union cut the ribbons on two in-school branches on August 25 and August 26. Located inside Goose Creek High School and Summerville High School, the student-run institutions will offer financial services to the students, faculty and staff.

Equally as important, the in-school branches provide a valuable learning experience for the students working there. Each student applied to the credit union's paid summer internship program, which gave them a crash course in what to expect when the branches opened. "Each student had to interview in front of five adults," recalled Heritage Trust President/CEO Jim McDaniel. After being accepted into the internship program, the student-interns worked at Heritage Trust in order to prepare them for employment at the in-school branch.

The credit union provided extensive training to the students in all aspects of financial institution operations and notes that student-employees will be responsible for a wide variety of tasks, including accounting, member service, as well as promotion & marketing of the branch to the student body. Teachers at both locations additionally serve as branch managers, providing oversight of the students operating the credit unions. In addition, student-employees receive course credit for their efforts.

Students and school staff are eligible to open accounts at the credit union locations. The in-school locations will provide basic financial services, including check cashing and deposit services, loan payments and withdrawals.

Heritage Trust staff joined with students, parents, school officials and political dignitaries to dedicate both branches. The events garnered media coverage from a local television station as well as the Charleston Regional Business Journal.

"Heritage Trust is excited to be pioneering this initiative in the Lowcountry," shared McDaniel. "As a member-owned not-for-profit financial cooperative, we believe in the importance of financial education. The new student-run branches will help students understand the importance of saving and provide the opportunity, tools and skill sets to be financially successful." The credit union hopes to add more in-school branches in the future.

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Zach DeMoya of Palmetto Citizens FCU named Columbia Chapter Protégé

Posted By Jeff Hardin, Monday, August 31, 2015
Updated: Monday, August 31, 2015

"I want to be an advocate and at the forefront of
spreading our message in a way that gets people
excited about what credit unions have to offer," said
Zach DeMoya (Palmetto Citizens FCU), the CUaware
 Protégé Competition Finalist representing the
Columbia Chapter.

Zach DeMoya, a lending assistant with Palmetto Citizens Federal Credit Union, was named the CUaware Protégé representing the Columbia Chapter. DeMoya will go on to the CUaware Protégé Competition Finals at the Leadership Conference in Myrtle Beach October 23.

DeMoya and Nicky Singleton (SAFE FCU) represented their credit unions at the Columbia Chapter event. The contestants each completed a written exam covering credit union history and philosophy, and delivered up to a five minute presentation on a credit union topic of their choosing.

DeMoya joined Palmetto Citizens in 2014. The 23-year-old graduate of the University of South Carolina says he wants to be an advocate for all that credit unions offer, especially to people who could benefit from credit unions. "We ... have to take our message to the unreached areas of our cities, which I feel means investing in young people and investing in those who likely have little to no financial knowledge or footprint in their lives," DeMoya shared.  

"I want to be an advocate and at the forefront of spreading our message in a way that gets people excited about what credit unions have to offer," DeMoya continued. He added that this message would empower people to take control of their financial lives.

DeMoya joins Tanya Council of the Northwest Chapter, Britnie McCallum of the Piedmont Chapter, Koy Stone of the Upstate Chapter and Akira Jacobs of the Lowcountry Chapter as CUaware Protégé Finalists. Two more chapters are slated to hold their competitions in the weeks ahead. To see a listing of upcoming CUaware Protégé Competitions, please click here


Tags:  Columbia Chapter  CUaware Protégé 

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New principles video shares cooperative values of credit unions

Posted By Jeff Hardin, Monday, August 24, 2015

(Editor's note: this information written and provided by the National Credit Union Foundation.) 

The National Credit Union Foundation (the Foundation) and Corporate One FCU have just released a short video on the cooperative principles for credit union organizations to leverage with their staff, members and community. The animated video discusses the benefits of what it means for a credit union to be a cooperative and goes into the 7 cooperative principles in brief detail.

In addition to making the video available through You Tube, credit unions are also welcome to download and share it through Dropbox.

“Part of the credit union difference is the fact that they are cooperatives,” said Gigi Hyland, Foundation Executive Director. “We need to celebrate that and shout it from the rooftops! Therefore, we hope credit unions share this video far and wide to help people better understand our cooperative advantage.”

“Corporate One is by definition exactly what the seven cooperative principles are all about,” said Lee Butke, President and CEO of Corporate One Federal Credit Union in Columbus, Ohio. “We were built by our member credit unions working together for a common goal, making it easier for people to achieve financial success. We’re proud to team up with the Foundation to make this video available to help credit unions spread the word about the unique and powerful principles that are the foundation of the credit union movement.”

Tags:  National CU Foundation  Seven Cooperative Principles 

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