PORTLAND, Ore. (7/17/14)--The Northwest Credit Union Association (NWCUA) created an eye-catching way for its member credit unions to communicate how Washington and Oregon credit unions collectively saved consumers $280 million in the 12 months ending March 2014.
Click for larger view
The NWCUA created downloadable check images that member credit unions can post to market the credit union difference to the public.
The two checks are made out to the members of each state and signed by ASmarterChoice.org, the consumer website launched in 2011 by the Credit Union National Association and state credit union associations to provide information on credit unions to potential members and the press.
Washington's 3 million members collectively saved nearly $202 million, while Oregon's 1.4 million members saved more than $78 million, according to an analysis by CUNA. The quarterly report is based on data collected by Datatrac and the National Credit Union Administration (NCUA), which tracked fees, loan rates and interest on savings at banks and credit unions (
The NWCUA also provides its member credit unions with community impact reports to share with their members that include statistics such as:
- Ninety percent of the likely Oregon voters polled in January 2013 shared a positive impression of the credit union in their communities;
- A recent survey of 36 Oregon credit unions--large and small--found they contributed more than $2.4 million in cash and more than 46,000 volunteer hours in 2012 to children's hospitals, food banks, animal shelters and other local charities. Those credit unions also donated nearly $800,000 in staff time to those efforts;
- The NCUA reported that Oregon credit unions had more than $796 million in outstanding small business loans as of December 2012;
- Sixty-two percent of Washingtonians are credit union members;
- Financing a $25,000 new automobile for 60 months at a Washington credit union will save members an average of $231 per year in interest, according to CUNA;
- A recent survey of 43 Washington credit unions--large and small--found they contributed more than $4.2 million in cash and more than 41,000 volunteer hours in 2012 to children's hospitals, schools, scholarships, food banks and other local charities. Those credit unions also donated more than $1.2 million in staff time to those community causes; and
- In 1986, a group of Oregon and Southwest Washington credit unions began raising money for local children's hospitals. They were so successful, that their model was adopted nationally by credit unions. Credit Unions for Kids is now the credit union movement's charity of choice, benefitting 170 Children's Miracle Network Hospitals across the United States. Since 1996, Credit Unions for Kids has generated more than $100 million for research, examination rooms and charity care.