EUREKA, Calif. — The cooperative nature of the credit union movement apparently is alive and well, and it's as close as the nearest phone book.
Dale Howe, manager of $14-million Logan Medical FCU, Logan, Utah, needed assistance handling a vehicle return and picked Coast Central CU, based here, out of a directory. Much to his surprise he received far more than a phone number.
"We had a member living in California who could no longer make the payments on his car," Howe recalled. "He was willing to surrender his vehicle, but the problem was the time and expense of getting the vehicle back to Utah. I looked in a directory to find a credit union in that area of California who might be able to possibly recommend an auto transporting company or a local auto auction in the area. Because of the value of the car both of these options would have ended up being fruitless pursuits as far as we were concerned."
Howe reached Larry De Ridder, collection manager at $700 million Coast Central CU. De Ridder suggested that Logan Medical simply have its member drop off the car at Coast Central CU and said he'd be glad to process the paperwork, prepare the vehicle and then put it up for auction. When Howe asked De Ridder for the price, he was told it would be a service from one CU to another.
When Howe contacted Credit Union Journal to relate his experience, he exclaimed, "Would a bank ever do that for a fellow bank?"
"I don't even know if a lot of credit unions would do it, but this credit union did," Howe said. "It shocked me, especially just picking a credit union out of a directory. I have had occasions like this where I've called other credit unions and they've offered help, but this was above and beyond. There was no reason for Coast Central to get involved; it was just a kind, charitable act."
De Ridder played down Coast Central's gesture, insisting, "It just so happens we sell most of our repossessed vehicles in house. It was not a burden on us as we were able to plug it in with the rest of our sales. It's just that we were acting for another credit union on this one.
"I'm sure they would have done the same thing for us," he added.
"Not only was I amazed at Coast Central's generosity, I hope we can pay it forward to another credit union in need in the future," Howe said.
