CUNA's PAC Crests $4M For First Time
WASHINGTON-CUNA reported that for the first time its political action committee (PAC) raised more than $4 million during one election cycle. "This is a significant milestone that places credit unions in the upper-tier, elite echelon of political action across the nation," said CUNA CEO Dan Mica. Among other highlights related to the Credit Union Legislative Action Committee (CULAC): The average contribution was approximately $26; fundraising continues to be driven by growth in payroll deduction, with more than 2,800 employees at 113 CUs, 22 state leagues, and CUNA contributing as of Oct. 31; CULAC distributed more than $2.9 million in contributions this cycle and participated in 83% of the 470 U.S. House and Senate races on the November ballot; CULAC spent a record $528,000 in Independent Expenditures (IEs), or political advertising, spent independently in support of candidates in three races, and more than 92% of CULAC-supported U.S. House and Senate candidates won election in the November elections.
ABECU Partners With Enterprise On Offer
ST. LOUIS-Enterprise Car Sales has launched a new web-based service that enables members to search for most fuel efficient and "green" used vehicles available, a move that prompted one credit union to offer a special green auto loan, as well.
Anheuser-Busch Employees CU members who purchase an environmentally friendly vehicle are eligible for a special "green" loan at a discounted annual percentage rate.
"The program is good for business and good for the environment. The major automakers have made a commitment to provide more fuel-efficient vehicles in the next model year. ABECU offers rate discounts for the purchase of fuel efficient autos to encourage members to purchase 'green'," said Emerson Smith, vice president of Branch Operations for ABECU. "Our goal is to raise awareness of the advantages of fuel efficient vehicles being less expensive to drive."
Freedom CU Overhauls Site Functionality
WARMINSTER, Penn.-Freedom Credit Union launched its new website that gives members faster and easier access to online banking as the log-on section moved to the homepage. The $350 million credit union also added new FAQs, a section offering products to Gen Y, chat capabilities improved search functions and additional financial education products including calculators. Additionally, when a members sign out of online banking, they are returned to the home page.
For info: www.freedomcu.org
Discounts On Energy-Related Loans
HANSCOM AFB, Mass.-Hanscom FCU is offering two money and energy saving programs for members.
The first, MassSave Heat Loan Program, allows homeowners to obtain a free home energy assessment and qualify to receive a 0% loan for specific energy efficiency improvements. Loans are available up to $10,000 with terms up to seven years. Potential projects include attic, wall and basement insulation; high efficiency heating and domestic water systems; solar hot water systems; and Energy Star windows and thermostats.
Under the second program, members can get a 0.5% discount on a loan for a hybrid vehicle, or 0.25% for any non-hybrid vehicle that gets 30 MPG or better. Members can receive up to 0.75% discount.
NCUA Takes To Airwaves To Spread Word
ALEXANDRIA, Va.-NCUA said it is continuing to promote the safety and soundness of federally insured credit union deposits in a campaign the agency launched in October.
"At times of economic difficulty and uncertainty surrounding the financial services system, it is more important than ever for the NCUA and other federal agencies to step forward and remind consumers of the strength and safety of federal deposit insurance," said NCUA Chair Michael Fryzel. "
As part of the initiative:
* NCUA provided nearly 9,000 radio stations across America with 90-second and 30-second PSAs regarding NCUSIF insurance, with 10-second ads running in six major markets.
* NCUA supplied each federally insured CU with an "Uncle Sam" poster to inform members of the recent change in coverage to $250,000 and emphasized the safety of insured funds.
* A newspaper ad featuring the same "Uncle Sam" motif appeared in 23 majospapers nationally.
* NCUA continued to update its Share Insurance Toolkit, including Fryzel's video message to credit unions, Board Member Gigi Hyland's Share Insurance Webinar, brochures reflecting the new changes in insurance coverage, an updated share insurance estimator, an NCUA fact sheet, and most recently the easy to use share insurance power point, "Share Insurance and You."
* Hyland hosted "Share Insurance 101," an interactive webinar describing share insurance and its changes.
Georgia Ads Stress Safety, Soundness
DULUTH, Ga.-Georgia Credit Union Affiliates has created a media campaign to make Georgians aware of the safety and soundness of credit unions, using billboard, print and radio advertising in metro cities throughout the state.
GCUA enlisted the support of financial guru Dave Ramsey of the nationally syndicated "The Dave Ramsey Show" to endorse Georgia credit unions in a 30-second spot that aired statewide for several weeks throughout his consumer financial advice show and during other radio programs.
Capturing the attention of Georgia sports fans, GCUA had a presence at the sold-out opening game for the Atlanta Hawks basketball team when they played the Philadelphia 76ers. Credit union representatives gave away T-shirts, stress relievers and other materials to tout the credit union message. Additionally, messages were displayed on the score board throughout the game to inform fans about credit unions.
Messages on digital billboards are running in Atlanta's MARTA transit system. Messages include: "Nearly 2 Million Georgians Belong to a Credit Union. Do You Belong?" and "Belonging to a Credit Union is Easy. Your Money Will Thank You."
Each of the messages reminds viewers that deposits at credit unions are federally insured by the NCUA and directs them to visit www.georgiacreditunions.org.
$20K In AFCU's Money Challenge
TEXAS CITY, Texas-AMOCO Federal Credit Union will launch the Earn or Burn $20,000 Money Challenge, Jan. 1. Four AMOCO families will compete in a reality show format over a 10-month period for a chance to win a grand prize of $20,000. With the help of a financial coach, each family will have to better their financial situation and create new habits to help reach monthly goals to win the grand prize.
For info: www.earnorburn2009.com or www.amocofcu.org.
Conn. Hosts Small CU Workshops
MERIDEN, Conn.-The Credit Union League of Connecticut's Small Credit Union Support program held its first educational program featuring Jay Friedland, compliance professional with M&M Consulting. Representatives from 31 small CUs around the state participated in the session that focused on identity theft and the Red Flag rules. The Small Credit Union Support Program was launched earlier this year at no cost to attendees.
NCUA Liquidates West Hartford CU
FARMINGTON, Conn.-NCUA liquidated West Hartford Credit Union here following the State of Connecticut Department of Banking decision to close the credit union. Problems with capital level, earnings, delinquency, recordkeeping, and management were all cited. At the time of liquidation, WHCU had $2.9 million in assets and served 1,206 members. It was the 14th federally insured credit union liquidated in 2008.
Tanner Recognized As Director Of Year
PALM DESERT, Calif.-CUES named H. Floyd Tanner, chairman of Mountain America CU, West Jordan, Utah, as its 2008 CUES Director of the year. During Tanner's 16-year tenure at MACU 50 new branches were built, membership grew by 185%, the CU supported Primary Children's Medical Center with a percentage of each ATM transaction and waived interest on loans to members of active duty troops during deployment.
