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TULIP Cooperative Credit Union

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TULIP Cooperative Credit Union is a cooperative financial institute located in Olympia, Washington serving the residents of Thurston County, Washington. It is a U.S. Treasury Department certified CDFI, demonstrating its commitment to community development especially to those of low-income.[1] Members of TULIP must meet one of two requirements. TULIP members must either be low-income residents of Thurston County or partners in the Olympia Food Coop.[2]

According to its website TULIP began in April 1997 as a small group of local volunteers exploring ways to promote economic opportunities for low-income residents of Thurston County. The group was initially called the Thurston Union of Low-Income People and used a system of microcredit that gave all people, regardless of income, access to capital. In 1998, the credit union group adopted the name TULIP (Thurston Union of Low-Income People) and began its goal of starting a new state-chartered financial institution. In 2003 TULIP was officially formed with more than $1 million in nonmember deposits from credit unions, federations and a dozen other institutions.[3]

As of September 31, 2004 TULIP had 428 members, with more joining daily.[4] This increase in size and revenue is largely due to its recent adverting campaign that aired in the Fall of 2010. The campaign was designed and produced by Boom Creative out of Spokane, WA and consisted of television commercials and newspaper advertisements themed around the phrase "I make a difference."[5]

Services

TULIP Cooperative Credit Union provides a smart and financially safe lending alternative to its low-income members. Rather than have its members fall victim to predatory lending, TULIP makes its loans available to all members at a cost much lower than they would otherwise pay.

TULIP offers personal loans of up to $2000.00, and automobile loans of up to $25,000.[6] They also offer counseling advice about the lending process, and work with community members to improve their credit and to try to get loans that best fit individual needs.

TULIP also offers home banking loans.[7]

Location

TULIP Cooperative Credit Union has only one active branch at the moment and is located at:

311 Pacific Avenue Olympia, WA 98501 United States

Hours of Operation

Monday, Wednesday, Friday: 11:00 AM – 6:00 PM Tuesday and Thursday: 11:00 AM – 2:00 PM

References

  1. ^ http://www.cdfifund.gov
  2. ^ Writer, Staff. "TULIP Blooms a Lot in First Year." Credit Union Times. 2 Mar. 2005. Web. 15 Apr. 2011. http://www.cutimes.com/2005/03/02/tulip-blooms-a-lot-in-first-year
  3. ^ Boone, Rolf. "Tulip Credit Union Gets Federal Loan - Business - The Olympian - Olympia, Washington." Front Page - The Olympian - Olympia, Washington. 30 Sept. 2010. Web. 15 Apr. 2011. http://www.theolympian.com/2010/09/30/1386781/tulip-credit-union-gets-federal.html
  4. ^ http://www.cutimes.com/2005/03/tulip-blooms-a-lot-in-first-year
  5. ^ http://boomcreative.biz/our-work/tulip-credit-union-i-make-a-difference/
  6. ^ Bartlett, Michael. "Tulip CU Blossoms After Near-Death Experience". Credit Union Journal, April 11, 2011.
  7. ^ http://www.tulipcu.coop/services/hb/ homebanking loans
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