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News Now

CU System
CU System briefs (07/15/2008)
* PEWAUKEE, Wis. (7/16/08)--The Wisconsin Credit Union League has launched an informational website for StretchPay, the Credit Union Salary Advance Alternative. StretchPay is an alternative to payday loans and the special line-of-credit loan helps members obtain affordable short-term credit (The League News July 7). Wisconsin had more than 524 payday lenders that made 1.7 million loans totaling $733 million last year, an increase from 2006, which had 500 payday lenders making 1.6 million loans totaling $661 million, the league said ... * WICHITA, Kan. (7/16/08)--Jim Holt, CEO, Mid American CU, was featured in a “Good Advice” blog column of the Wichita Eagle July 10. Holt was featured along with two other local business people. He described seven ways Mid American serves members who come to the credit union with a problem. “First, we always remember that our members are our owners, so we are working for them. Second, we always offer a sincere apology. Third, we ask them how they would like us to solve the issue that is making them unhappy. Sometimes they don’t want us to do anything, they just want us to know they are unhappy. [Fourth] we attempt to fix the problem. Fifth, we do something extra by giving them a gift card for allowing us the chance to fix the problem. Sixth, we follow up to make sure the problem is solved and give them direct contact if they have a future problem. Seventh, we ask for their continued business,” he said ... * HARRISBURG, Pa. (7/16/08)--Cornerstone FCU, Carlisle, Pa., was granted a community credit union charter. The credit union previously had an employer/association-based charter. The new charter opens membership to anyone who lives, works, worships, attends school or conducts business in Cumberland County and the borough of Shippensburg. Family members of those in the country and borough also can join (Life is a Highway July 10). “The growth opportunity offered by this charter change allows Cornerstone to retain our ‘down on the corner’ approach to meeting personal and small business service needs, while allowing for county-wide diversification,” said Sam Glesner, Cornerstone board president ... * CANTERBURY, N.H. (7/16/08)--The New Hampshire Credit Union League’s Eighth annual Richard D. Mahoney Credit Union Charity Golf Tournament in June raised $70,000 for the Make-A-Wish Foundation of New Hampshire. The event, coupled with 11 years of fundraising by the league’s credit unions, brings the total amount of money raised to the charity to $1.053 million ...


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