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Financial challenge helps member pays out prizes
MADISON, Wis. (10/20/08)--Credit union subscribers to CUNA's Home & Family Finance Resource Center are offering members two special resources to help them meet their rising financial challenges. Since January, each month the Financial Fitness Challenge has featured one reader submission in a column describing a way to manage or save money. “From the beginning, we saw that members were concerned about food and fuel expenses--whether to run the car, the furnace, or the refrigerator,” said Susan Tiffany, director of personal finance information for adults in CUNA’s Center for Personal Finance. Each month one winning idea also is highlighted on Home & Family Finance Radio, with host Paul Berry. Up to five members each month are awarded $50 for submitting useful ideas. “Through September, we have 45 winners from 31 credit unions,” Tiffany added. There have been multiple winners from several credit unions:
* Six winners from American Airlines FCU, Dallas; * Five from Oklahoma Employees CU, Oklahoma City, Okla.; * Four from NASA FCU, Upper Marlboro, Md.; and * Two from Keesler FCU, Biloxi, Miss.
The remaining 28 winners each come from a single credit union. A list of all winners, their credit unions, and their winning ideas at are availableHome & Family Finance Resource Center. “We are making up to five monthly awards of $50 through the end of 2008, so keep those submissions coming,” said Jim Hanson, vice president of CUNA’s Center for Personal Finance. Members and credit union staff alike are eligible to win the awards. The jackpot comes in early 2009, when readers will choose the winner of a $1,000 gift. “We’ll send that prize money to the winner’s credit union so the credit union can make the presentation,” Hanson added. In addition, the resource center is featuring several articles and tools addressing the economy in its ongoing Tough Times series. “We have been ahead of the curve on topics such as avoiding foreclosure, anticipating and preparing for a layoff, steering clear of abusive lenders and bogus credit counselors--these and other issues that consumers are grappling with in the current economy,” Hanson said.
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