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News Now

CU System
CUs remain healthy say leagues
MADISON, Wis. (7/23/08)--Credit unions and credit union leagues nationwide are continuing to spread the message that credit unions are healthy despite an economic downturn. On Monday, Kansas Credit Union Association staff met to address ways to offset the rising concern on behalf of members about the safety and soundness of credit unions, Ashley Bridgeman, communications specialist, told News Now. The association will offer a free webinar to educate credit unions on talking with their members about the soundness of their credit union and more specifically, the National Credit Union Administration’s (NCUA) Share Insurance Fund. The association also will continue public relations efforts to educate members and nonmembers about the credit union difference and the safety of members’ deposits. “In addition, we are going to initiate a conference with the members of KCUA’s Member Growth and Profitability Task Force to accurately gauge the situation and develop additional tactics to not only help credit unions communicate with their members, but also provide support for credit union operations during this time as well,” Bridgeman added. Georgia Credit Union Affiliates (GCUA) built a new web page on its league website with resources to assist Georgia credit unions, the media and general public, Anita Paul, GCUA director of communications, told News Now. Washington State Employers CU, Olympia, Wash., spoke with the Seattle Post-Intelligencer about the safety of credit unions. Ann Flannigan, spokesperson for the credit union, told the newspaper that its members’ funds are insured by the National Credit Union Administration up to $100,000. The Credit Union League of Connecticut released information in which President/CEO Anthony L. Emerson guaranteed that the state’s credit unions will “remain safe during changes in the economy and credit markets.” The league noted that credit unions’ structure, which is different from other financial institutions, is the cornerstone of why credit unions remain healthy.
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