Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
In-Kind Contributions Increase CUs' Social Responsibility Image
KANSAS CITY, Mo.  (12/12/13)--This month's "Community Collaboration" column from Mazuma CU focuses on how in-kind contributions support credit unions and their commitment to corporate social responsibility (CSR).
 
Brandon Michaels, president/CEO of the Kansas City, Mo.-based credit union, has been addressing CSR and how it is an asset to credit union growth.
 
In-kind contributions are the largest segment of corporate philanthropy and include resources, services, product donations and education.
 
"The optimal in-kind contribution for a credit union is to use the knowledge and experience of its employees to teach members of the community valuable lessons in financial literacy," he wrote.
 
Specifically he used the example of teaching young adults to read their credit scores.  A credit union can share how credit scores are used, what determines the score and ways to improve a less-than-desirable score.
 
"Using a credit union's inherent in-house expertise to educate on financial matters such as credit scores creates an auto-catalytic reaction," he said. By providing financial education and advice to the public, credit unions build their brands and create good will. It also increases  the number of financially literate potential customers who are more likely to make use of a credit union's services, he noted.
 
The next article in the five-piece series is "Why Giving Your Employees Financial Education Makes Smart Business Sense."
RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
18 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
19 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
19 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
20 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
21 hours ago