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News Now

CU System
California Nevada league cut ad budget
SAN FRANCISCO (11/10/08)--The annual budget for the California and Nevada Credit Union League’s Public Advocacy Program is slated to be substantially cut from $6 million annually to $1 million for 2009, the league confirmed. The program has been in effect for four years and is funded by an special assessment of league credit unions in addition the their dues, Henry Kertman, league vice president of public affairs, told News Now. In October, the league proposed a reduced budget of $4 million for the program. However, since “third-quarter numbers were disappointing, the league credit unions felt the situation was a little more difficult today than in the past,” Kertman said. In response, the league’s the board of directors met and then sent a proposal to the credit unions to cut funding for the program to $1 million for 2009, he added. At the league’s annual meeting last week in San Francisco, Nevada credit unions voted to accept the proposal for reduced funding in 2009. The California credit unions were set to vote late Friday afternoon, Kertman said. The proposal will suspend the program’s paid media advertising, but will continue to primarily cover grassroots advertising, and also support earned media (favorable publicity gained through promotional efforts other than advertising, such as editorial influence) and some research, Kertman said.


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