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MCUA to distribute half million to its CUs
ST. LOUIS (2/5/09)--The Missouri Credit Union Association (MCUA) board voted Tuesday to distribute $500,000 to affiliated credit unions “to help member credit unions address issues surrounding the volatile economy and stimulate growth.” The funds will be distributed to credit unions based on their dues. “Missouri credit unions have a long history of working together,” said board Chair Betty Clark, CEO, United CU, Mexico. “We have a strong, well-supported association, and as a board, we feel it is appropriate to assist member credit unions in these difficult economic times.” “The high affiliation rate of the MCUA is a testament to the association’s value proposition and member focus,” said board member Dennis Pierce, CEO, CommunityAmerica CU, Kansas City. “In this unprecedented time in our history, unity is paramount,” said Rosie Holub, MCUA president/CEO. “Credit unions need the support of their league and, as represented by this action, we understand the pressures and demands credit unions face financially. “The credit union system is facing a wide range of challenges from helping credit union members withstand the economic downturn to making certain we have a strong voice in the state assembly, in Congress, and with our regulatory agencies,” she added, commending the board for its action. Holub also reported that the board voted to recommend to membership at the 2009 annual business meeting that membership fees remain at the reduced 2009 level again for 2010. The reduced membership fee schedule was originally proposed at the MCUA 2008 annual business meeting. The reduction in fees represents another effort to assist credit unions in holding the line on expenses. MCUA management also announced Tuesday that the organization’s product and service focus in 2009 centers on three areas most critical to credit unions in the coming year: maximizing credit union income, reducing credit union expenses and minimizing risk.
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