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Short Takes and Teases for A Friday

Ever seen those inane television 6 o’clock news “teases” that seemingly come on while you’re around the dinner table? Stuff like, “A new study says a popular food may kill you, and you may be eating it now … we’ll have the story at 11.” Well, this serving of CU Communicator won’t kill you (and hopefully it’s not inane), but it is going to leave you hanging just a bit. There’s good stuff happening out in NC CU Land, and I thought I’d give you a peek at what’s happening (without playing spoiler).

First, a short take … as you stock market watchers know, the Dow gave up more than 300 points yesterday … part of a rout in the global equity markets. The culprit, in part? Our old buddy, the subprime lending issue. Of course, daily movements in the markets are usually about expectations, not reality. Still, 300+ points is a big number on one day. Which leads us to our first tease …

Foreclosure is about reality, not expectations … Kudos to State Employees’ Credit Union, which is about to roll out a big number of its own very soon, perhaps even today. About six weeks ago the credit union rolled out some products aimed to help members trapped in risky subprime mortgages. Well, SECU is working up a press release that will share the dollar figure of mortgage refi’s in these products so far.

How big a number is it? Well, there’s six zeros at the end, and two crooked numbers leading the train. Like I said, it’s a big number.

Better than “the big number” though is the fact that hundreds of families in NC will keep the keys to their slice of the American Dream in their pockets, and won’t have to turn them over to an auctioneer. Hundreds helped – in just six weeks.

Again, kudos to SECU for really being about “people helping people.” If you’ve taken a pass on this issue so far and you could be helping, you might want to set aside some time today to take a look in the mirror.

Tease #2: another credit union that gets it … Carolina Postal Credit Union. In this space last week, we chatted about CPCU’s Priority Payday Checking, and the credit union’s intense focus on serving the member, not the bean counters. Yesterday, the Marketing Diva of CPCU (and world renown) blogged an update about the product … and the credit unions that are looking at adopting this program.

What the Diva won’t tell you (yet) is that the credit union is about to roll out one heck of a great product and promotion. It’s one part loan, one part slang, and one part duct tape (I’m not kidding). Best of all, it’s a great fit with their members. More to come …

Tease #3: are we having fun yet? Wow, the folks at Members Credit Union sure look to be! The credit union is putting a new spin on its annual “Football Pick ‘Em” contest this year. Click here to go to the Credit Union Warrior blog to view some videos about “Football, not Futbol.”

The CU Communicator especially enjoyed Office Destruction and Face Paint … although the keen acting abilities of CEO Jack Braswell are on display in Management Meeting.

More on how the credit union plans to use these videos next week on CU Communicator. In the meantime, be careful what you eat for dinner. 🙂


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