ALBANY, N.Y. (4/29/11)--The Credit Union Association of New York has released its 2010 MORE (Member Outreach and Reinvestment Endeavor) Report
, an annual compilation of New York credit unions’ outreach efforts. This year’s edition features more than 900 entries from 80 credit unions representing all 14 association chapters. The report outlines credit union outreach efforts in adult financial education, community investment and outreach, customized products and services, financial counseling, immigrant outreach, Volunteer Income Tax Assistance and youth financial education. The 2010 MORE Report
was shared with lawmakers during the association’s Governmental Affairs Conference to offer evidence of how credit unions fulfill their mission. A few of the stories documented in the report:
* Alternatives FCU, Ithaca, partnered with Tompkins County Chamber of Commerce to educate self-employed individuals and local small-business owners about health-care legislation changes and applicable credits. * CORE FCU, East Syracuse, underwrote, with assistance from a New York Credit Union Foundation grant, the second annual Teen Finance Forum at ESM High School. Students from 10 area high schools participated in the day-long financial literacy event. The credit union also continued operating a student-run branch at the school. * Union Settlement FCU, New York, as part of its monthly Money Smart seminar series, hosted a free Debt 911-Emergency Financial Relief seminar in both English and Spanish. The seminar covered topics such as the collection process, the dangers of debt-reduction agencies, consumer rights under the Fair Debt Collections Practices Act, the civil lawsuit process in New York State and the pros and cons of bankruptcy. Participants also were offered a free credit report, credit score and counseling session to improve their credit scores.
Also included in the report are the results from the 2010 More Report
Survey. Among the survey findings:
* Nearly 60% of New York’s credit unions offered customized products for youth. * New York credit unions educated more than 65,000 of the state’s young people through financial education programs. * They provided training for more than 45,000 New York consumers at adult financial education sessions, 20,000 of whom were members of underserved communities; * More than 57% of New York’s credit unions partnered with other organizations. * They gave nearly $3 million to community organizations in 2010. * New York credit unions were involved in nearly 7,000 charities and community boards.