WASHINGTON (12/12/07)--The first financial institution to implement United Way of America's national "Pennies for Change" campaign is Westchester FCU in White Plains, N.Y. United Way announced the launch of its philanthropic initiative Tuesday. The program provides the opportunity for member/customers of participating financial institutions to automatically donate one penny for each credit or debit card transaction. The $28.1 million asset Westchester FCU implemented the campaign through its card processor, Covera Card Solutions. Kimberly McCumber-Ploff, executive in charge of Covera, said it is looking forward to helping other credit unions implement the program. Twelve other credit unions and banks have joined as charter members and are exploring ways to make the program available to their members/customers, said United Way (Business Wire
Dec. 11). They include:
* CTCE FCU, $80.2 million assets, Reading, Pa.; * FORUM CU, with $1 billion assets, Indianapolis; * Northeast CU, with assets of $999 million, Portsmouth, N.H.; * SouthWest Community FCU, $159 million assets, St. George, Utah; and * Superior FCU, $247.3 million assets, Lima, Ohio.
Six banks also are participating in the program. The donations will help fund United Way programs in local communities. According to the Nilson Report, Americans make more than 40 billion card purchases a year.