'Untapped' Tapped For Recognition
BRANFORD, Conn.-The book used as the basis for the National CU Foundation's new educational program has earned recognition as the best business book among 2,690 entries in the 2007 Independent Publisher Book Awards. "Untapped: Creating Value in Underserved Markets" (www.untappedbook.com) by John Weiser, a consultant to the NCUF, won the Gold Award in the Independent Publisher Book Awards' Business Books category. Weiser facilitates NCUF's Social Impact Management Institutes.
For info: www.ncuf.coop.
CU Buys Equipment Leasing Co.
VANCOUVER, B.C.-Westminster Savings Credit Union has acquired Calgary, Alberta-based equipment leasing company Mercado Capital Corp. The credit union said it was seeking a better position in the growing Alberta leasing market and gives the credit union a market presence in Ontario. Mercado Capital will retain its name and operate as a wholly owned subsidiary of Westminster Savings Credit Union. Mercado Capital has been providing flexible leasing solutions for equipment acquisitions to small and mid-sized businesses across Canada since 1992.
Wis. CU Members Save $157M
PEWAUKEE, Wis.-Wisconsin's 2-million credit union members save approximately $157-million annually as a result of their CU membership, according to calculations done by the Wisconsin league. "Members saved nearly $80 million because their credit unions offer lower interest rates on loans, $32 million because credit unions have higher deposit interest rates, $45 million because credit unions have fewer and lower fees compared to for-profit banks," the league said. "The average benefit was around $143 per member household." The league added that its estimate is that due to credit union competition, bank customers save an estimated $4.3 billion annually.
LCU Intro's Premium Checking
NEW BERLIN, Wis.-Landmark Credit Union here has introduced a "Premium Checking" product that pays 7.50% APY on balances up to $500, with APY on balances of more than $500.
The account is free with no monthly fees and no minimum. The account is part of an ongoing effort to provide greater value to members, according to LCU. Landmark said its member households saved more than $372, with high-use member households saving $1,140 during the year, compared to other financial institutions during 2006. Overall, LCU said its 123,604 members saved $24,198,192 versus what they would have paid at other financial institutions in Southeastern Wisconsin during 2006.
