Credit Unions In The Media

The Long Beach Press Telegram detailed a checking program from First City Credit Union that has raised more than $26,000 for three local charities. The newspaper offered coverage of First City's Reality Check program, which pays $25 to each new member who opens a new checking account and another $25 to the member's choice of three charities. The Dallas Morning News followed up an earlier report in the Wall Street Journal headlined, Mortgage-Market Trouble Reaches Big Credit Unions" by localizing the story and stating in a financial column, "Stay calm. There's no imminent collapse of credit unions, and your insured deposits are fully backed by the federal government." The story noted most consumers were unfamiliar with the corporate CUs that were featured in the Journal report, and provided some background. NCUA's John McKechnie was quoted as saying the corporates' issues are "ripples in the water." The story went on to report on the condition of local Southwest Corporate FCU, with input from CEO John P. Cassidy.(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/