INDIANAPOLIS (2/3/11)--The challenging economy and its effect on credit unions and their members have prompted the Indiana Credit Union League and its Servicecorp to begin 2011 by taking several steps to provide financial assistance to affiliates and help them meet those challenges, the league said. "We know credit unions are working hard to deal with the impact of the continuing financial challenges presented by the current economic environment," said league President John McKenzie. "Our 2011 budget reflects an overall picture where a strong retained earnings situation positions us to continue the focus we've had for several years on additional financial support for affiliates and client credit unions. Several efforts are underway," he added. They include:
* Dues rebates to keep the net amount affiliates pay at the prior year's level for the past two years and in 2011. Those rebates totaled more than $160,000 for 2009-2011. * Financial assistance to emphasize the importance the league places on advocacy by helping more Indiana credit union representatives attend the Credit Union National Association's 2011 Governmental Affairs Conference (GAC) in Washington D.C. Feb. 27-March 3. The assistance totaled more than $80,000 during the past three years. This year, more than 100 Indiana credit union representatives will attend the GAC. * Rebates from Servicecorp to lower the cost to attend education sessions and planning sessions. Rebates have totaled $60,000 for 2009-2011. The Indiana Credit Union Foundation has provided another $75,000 in scholarships to assist credit unions for those three years.