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CU System
Thousands of members rise to Financial Fitness Challenge
MADISON, Wis. (1/28/08)--More than 3,000 participants registered in the 2007 Home & Family Finance Financial Fitness Challenge. The Credit Union National Association's (CUNA) Center for Personal Finance conducted the year-long challenge on the Home & Family Finance Resource Center, a Web content site for credit unions. Each month highlighted a different set of tasks--from using direct deposit to requesting free credit reports--that consumers should fulfill to make the most of their financial resources. "I definitely think that my financial habits have improved, and I am striving to make them better all the time," said one participant, Anji. Registered participants became eligible for drawings that awarded 10 $50 Visa cards each month. Many more consumers followed the challenge without registering. Dallas-based American Airlines FCU alone enrolled 812 members, or 25% of the total registrants. Its members also pulled down about a fourth of the prize money. American Airlines webmaster Pedro Noda made it his goal to swamp all other competitors by featuring the challenge in member e-mails throughout the year. The challenge also was featured monthly on Home & Family Finance Radio. The 2008 Finance Fitness Challenge takes a new tack. "We ask credit union members--and staff--to share their best money-management ideas," says Jim Hanson, vice president of the center for personal finance. Those submitting their ideas will be eligible for monthly prices of $50 Visa gift cards and a grand prize of $1,000 for a "reader favorite" chosen at the end of the year. "The challenge is one more solid way you can show members and potential members that credit unions are different," says Susan Tiffany, CUNA's director of personal finance information for adults. For 2008 challenge rules and where to send money-management ideas, use the H&FF Radio link.
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