WASHINGTON (4/29/13)--Three Washington state credit unions--Peninsula CU, Connection CU and Kitsap CU--recently united for the good of their members, and their efforts are lauded in this week's edition of The Cheney Report.
These three credit unions are among many that have reached out to help their members deal with the impact of the federal sequester. Elliot Gregg, president/CEO of Kitsap CU, said the three credit unions met to discuss "how to proactively help our members through the impact of financial change."
Peninsula has made contact information for local utility companies, financial counseling services, and community resource providers available on its homepage. In the April edition of Kitsap CU's newsletter, Gregg encouraged members that have newfound financial concerns due to the sequester to have an open dialogue with his credit union. That type of action will "go a long way in creating a positive course of action," Gregg said.
These collaborative effort resulted in positive press coverage and CUNA's Unite for Good vision. "It's only been a few months since we launched our vision of "Americans Choose Credit Unions as their Best Financial Partner," and examples like in Washington State are evidence that credit unions are ready to "Unite for Good" to achieve that vision, Cheney wrote.
This week's Cheney Report also includes:
- Member business lending and tax reform news;
- CUNA capital standards advocacy;
- Details on a Consumer Financial Protection Bureau report on payday lending; and
- News on credit union Financial Literacy Month activities.
Each Friday, The Cheney Report delivers Cheney's insights on three to four key events and policy developments affecting credit unions into the e-mail inboxes of credit union CEOs. The report also provides a valuable window into CUNA's actions on behalf of member credit unions and reinforces the value of CUNA membership, CUNA Executive Vice President of Strategic Communications Paul Gentile notes.
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Past issues of The Cheney Report are also archived on cuna.org.