The advocacy power of credit union members

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Members who receive member advocacy messages are more loyal.It’s a mantra for credit union advocates: Credit unions have members. Banks have customers. And credit unions’ best weapon in the fight to stand up to banks is their 100 million-plus members.At GAC, Tony Budet, president/CEO of University Federal Credit Union, Austin, Texas, shared information on an extensive research project launched to better understand the power of credit union membership and advocacy.CUNA partnered with credit unions on the project to better understand the impact of advocacy-related communications. Surveying more than 70,000 credit union members in 2014, CUNA found that advocacy communications not only succeeds in activating credit union members but also increases members’ loyalty bond with their credit union.CUNA’s Member Activation Program (MAP) research project proved credit union members trust and value their individual credit unions. The study found 82% of members who receive member advocacy messages from their credit union want to do more of their banking with their member-owned financial institutions. continue reading »last_img read more

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S&P: Uljanik Could Cost Croatia Up to 1% of GDP

first_imgThe financially troubled shipyard Uljanik could cost the Croatian government up to 1% of its gross domestic product, according to a report by Standard & Poor’s ratings agency.“Although we believe that contingent fiscal risks are contained, some state guarantees could be activated and fall on the government’s balance sheet,” S&P said.“In particular, the resolution of the troubled Uljanik shipyard, which is currently in search of a strategic investor and could otherwise face bankruptcy, could cost the government up to 1% of GDP. The precise cost however depends on the final scenario, and the possible finalization of ships under construction.”The rating report comes only days after Croatian shipbuilder Uljanik Group revealed its intention to sell 3. Maj shipyard in an effort to raise the much-needed funds.However, the group informed that there are currently no legal procedures underway for the spin off of the shipyard, as the struggling company continues its search for much needed funds.Uljanik added that no formal steps would be made on the matter until the restructuring program for Uljanik Shipyard is adopted.The company was forced to restructure amid a downturn in the global shipbuilding industry coupled with rising competition on the Asian continent.World Maritime News Stafflast_img read more

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