Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Global CU members hit 500K savings goal early
SPOKANE, Wash. (8/26/10)--Global CU in Spokane, Wash., announced Tuesday it has reached its goal to save members a half-million dollars--three months early. The saving total tallies more than $572,799 and represents the savings of 90 members at more than $6,364 per member. How did they save the money? By refinancing at lower interest rates. “We’ve always known that as a credit union we can provide significant saving to consumers,” said Jack Fallis, Global CU president/CEO. “This campaign has helped us show, in real dollars, what a difference membership can make. During a time when many people in our communities continue to struggle with unemployment or reduced income, this difference is more important than ever.” The credit union launched its half-million-dollar savings initiative in June, anticipating it would meet the goal by the end of November. Global CU did not use mass media to promote the initiative. Rather, it relied on employees and volunteers to inform members about the cost of financing and saving by refinancing loans at lower rates, and the importance of credit. Credit card savings were calculated with the Federal Reserve’s Credit Card Repayment Calculator, which assumes the cardholder makes no more charges and pays only the minimum each month. “We know that there are more people who could benefit from refinancing a higher-interest loan,” Fallis said. So, with over three months left in our initial campaign, we’re setting a new goal to save members $1 million by the end November.”


RSS





print
News Now LiveWire
#Maine #creditunion membership growth continues record pace http://t.co/yFRur4TQ0x
11 hours ago
.@TheNCUA closes N.Dade Community Development FCU,Miami Gardens, Fla. determining CU violated some charter provisions,bylaws & fed. rules.
12 hours ago
Why a #creditunion can be a good fit for #smallbiz http://t.co/l7Df9b8vQZ @fundbox
14 hours ago
Who's most adept at saving these days? The middle class, says @Bankrate http://t.co/zVi7typdVU
14 hours ago
.@OregonCCU donates $20K in Sprint program monies to @CMNHospitals @CU4Kids via @NWCUA http://t.co/0wTAH5NTNI
15 hours ago