LOS ANGELES–The CEO of one credit union here has been highlighted in local media for offering people she meets at events as much as $50 if they happen to have a debit or credit card from her credit union.
Jennifer Audette, the CEO of the $73.8-million POLAM FCU, told the Larchmont Buzz she will challenge people at community events to show the plastic, and then reward them with the cash or even a drink pass to the first person who shows her their POLAM debit or credit card.
“It’s fun, but it makes a point,” Audette told the publication. “I can tell immediately who understands what it means to belong — and who doesn’t yet.”
According to the Larchmont Buzz, Audette believes the small gesture highlights a much bigger truth: where you bank matters.
“When you belong to a credit union, you’re not just a customer — you’re an owner, a member of a community,” Audette was quoted as saying. “Your money stays in your local community. It helps local businesses, supports families, and strengthens the same neighborhoods where you live.”
Why Credit Unions Exist
Audette, who was recognized by the Los Angeles Business Journal as an elite Top 100 Bankers in Los Angeles, said that is what sets credit unions apart from traditional banks.
“Banks exist to make profits. They answer to shareholders and boards focused on quarterly earnings — not members. Their executives take home massive bonuses, while credit unions reinvest earnings back into their members and communities,” Audette told the Buzz.
The report said Audette points out that many people proudly talk about shopping local — yet still swipe cards from the biggest financial institutions. The irony, she told the Buzz, is that small merchants often lose the most through the interchange fees those same banks collect and spend about $80 million in lobbying and regulatory advocacy.
It’s Not Just a Card
“It’s not just about shopping local,” Audette was quoted as saying. “It’s about banking local. Because if your money flows through the big banks, it’s still leaving your community…Every time someone uses their credit union card, they’re making a choice. They’re saying they believe in ownership over profit, and in community over big business.
“Our members don’t just carry a card,” Audette added. “They carry community.”
