FOR IMMEDIATE RELEASE
Contact: Mark Wolff
MADISON, Wis. (December 1, 2010)CUNA's Community Credit Union Committee released the third in a series of four whitepapers titled CU Business Services: Making it Real and Keeping it Safe today, which offers insight on how credit unions with clear business services strategies and a disciplined approach to execution will have what it takes to "rescue" many small businesses and take them into the future.
In our "consumer-driven" recession and financial industry turmoil, the structural pain levied on small business America has been substantial. Cutbacks in consumer spending have resulted in declining small business revenues, layoffs and financial stress to make business ends meet. While small businesses (especially startups) have traditionally been the engine of the American economy and job growth, the weight of the Great Recession and continued uncertainty has caused this engine to remain sputtering in very low gear. The real future of small business depends on having a vibrant, consistent and disciplined financial infrastructure to support new business creation, growth and ongoing performance. With grassroots rising up everywhere, the time certainly may be right for credit unions to step up and become the engaged and vibrant financial partner to small business.
CU Business Services: Making it Real and Keeping it Safe is written to serve as a useful guide for credit unions' diligent efforts to pursue the opportunities in business services with a renewed energy and discipline.
The CUNA Community Credit Union Committee was formed in 2006 to provide support for the growing group of community credit unions. The committee's purpose is to support and service community credit unions and credit unions considering a community charter through: representation of community credit unions' unique legal, legislative and regulatory needs; and education, resources and information.
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With its network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves 90 percent of America's 7,700 credit unions, which are owned by more than 90 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. For more information, visit www.cuna.org.