LATHAM, N.Y.-Sunmark Federal Credit Union has introduced a program designed to assist its members in reducing fuel costs, while also creating dialogue between the members.
Dubbed "Members Helping Members," the initiative encourages members to support each other to reduce energy usage in the upcoming winter months. Members Helping Members also creates a network between the CU's members and businesses aimed a improving cooperation in dealing with economic and energy issues. The program asks for member participation, creating a network of individual members and businesses certified in energy-efficient building practices.
With the support of the New York State Energy Research and Development Authority (NYSERDA), the initiative encourages Sunmark members to utilize new home equity loans-or existing home equity loans-to make their homes more energy efficient. The 46,000-member CU is also offering a special rate on auto loans for any member who upgrades their vehicle to any automobile with better fuel efficiency.
"It kind of started because people were going to have concerns as we are expecting a cold winter," said David Weinstein, director of marketing for Sunmark FCU. "So we started planning this in July."
One Goal, Two Approaches
The program has two approaches: a product approach and a philanthropic approach.
"The product approach encourages e-statements, banking online, using home equity loans to make homes more energy efficient, an auto rate which is a promotion to encourage members to upgrade to a better fuel efficient vehicle," he said. "For the philanthropic approach, we're saying 'We want to help.'"
The $435-million credit union will also be distributing 200 free energy-saving kits for those have difficulty managing expenses. The program also incorporates BPI certified home energy audits and networking referrals.
Sunmark is also encouraging its members to blog on the site, www.membershelpingmembers.org.
Members Helping Members is not being used to solicit new members at present, and instead is focusing on helping its current members for now.
"It's mostly being marketing through PR in our branches," Weinstein said. "Members are really liking it."
To help offset the cost to the credit union, NYSERDA is subsidizing the cost of the brochure. They also hosted an event on Sept. 20, with various speakers discussing practical energy options and strengthening members' awareness regarding energy preparation.
"They did a presentation to a packed office of our members," Weinstein said. "It was a great event. They talked about alternative energy options, such as wood stoves. It was a pretty eye-opening experience."
For more information
www.memberhelpingmember.org
www.sunmarkfcu.org
www.nyserda.org
