SEATTLE - Seattle Metropolitan Credit Union gave back to the community last week.
This is not a euphemism-SMCU literally gave back, handing out $10 bills to members who could answer one question: "If we gave you $10, what would you do for someone else?"
Andy Wright, marketing manager for Seattle Metropolitan, told Credit Union Journal the seeds of this idea came together months ago.
"I remember talking about it in July, long before all the headlines about financial institutions," he recalled. "As a credit union, we have been paying attention to the seven cooperative principles credit unions were founded on. In everything we try to do with our members, we try to keep the seven principles in mind. When we work with these terms, the credit union spirit comes out."
Principle No. 7 says giving back to the community is imperative. He said Seattle Metropolitan is aware from its involvement with charities that a little bit of money goes a long way. The current giveaway provided people with a chance to make someone's day with a $10 treat they weren't expecting, Wright pointed out.
Wright called the response "phenomenal," and it was evident even before Seattle Metropolitan Credit Union started videotaping locals, Seattleites were already lined up around the corner of the CU's downtown Third Street office to Columbia Street.
Seattle Metro gave away 200 $10 bills. Another $1,000 will go to the person who had the best idea for helping others as voted on by viewers from Oct. 14 through 19. The result of the filming, which took the allotted four hours, have been placed on www.7principles.coop, linked to the credit union's main website, SMCU.com. The microsite features information on what Seattle Metropolitan is doing with the community. The winner will be announced Oct. 20.
Jill Vicente, VP chief marketing officer, said she was not surprised at the strong turnout even as the event was not yet an hour old. "We've been planning this for half a year," said Vicente, "and I think the timing and the [economic[ environment are lending themselves to it."
All Seattle Metropolitan Credit Union employees were wearing orange T-shirts emblazoned with www.7principles.coop. Vicente said several people had asked about the seven principles, which Seattle Metropolitan began extolling in early 2007.
"There has been a lot of genuine interest. People are getting to see the difference between a bank and a credit union, getting to see that we are a co-op," explained Vicente, adding the credit union "could have just written a check or made a donation," but the $10 giveaway tied to charity was a more effective means of reinforcing the credit union's message.
Vicente said the credit union was aware some people would put the money in their pockets, and that others would put it into their checking account. But others shared stories of friends or a charity who could use $10, and at least one person asked for the funds in the form of 10 $1 bills to give to the homeless.
Wright said it is updated with content at least once a week, such as educational seminars or other local events.
Some of the best ideas Wright heard during the giveaway included a woman who said she had a friend taking care of her grandchildren on a fixed income and simply wanted to give the friend $10.
"I gave her $100," he said. "Some people had really good stories, and they got more than they expected." One SMCU member is trying to start a business that helps people make and sell jewelry from kits, Wright recalled. Another wanted to purchase material for making scarves and hats, with the intention of making some scarves and hats for charity, while at the same time teaching people how to make their own.
At least one person told Credit Union Journal he intended to join Seattle Metropolitan as a result of the principles he heard about. "I also intend to join as the result of the fact many of my friends have said this credit union has an outstanding reputation," Brian Bozeman said. The only hold up? Bozeman said he had an outstanding issue with ChexSystem in his file and was on his way to a branch of Washington Mutual to get a certified letter that he had paid off all his debt. (c) 2008 Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/
