Posted by Lisa Hochgraf
$1.6 billion Eastman Credit Union made a substantial media splash this spring when it announced it was partnering with a local non-profit group to provide free wireless access to residents and visitors in several areas around Kingsport, Tenn., the city where the CU is headquartered. Examples of that media coverage include this write-up in the Kingsport Times-News, and our own coverage on CUES Tech Port.
Slides that Eastman CU President/CEO Olan Jones has been using in presentations about the project suggest that 650 to 800 unique users log in to Kingsport's free wireless network every day. They also list the marketing benefits to the CU of the investment (such as the incredible Web real estate that is the city's log-on page for the free wireless service). In all, the credit union believes that the marketing benefits of doing this will far exceed the credit union's costs of $160,000 over three years, which funds the entire project, plus technical expertise and overall leadership. As an added benefit, community leaders believe the program will be good for Kingsport overall, drawing visitors and serving residents.
Jones has hoped right along that other CUs will do this in their communities.
"It is by design a portable, low-cost model that all credit unions can do and it generates a world class opportunity for big and small credit unions to partner with local governments, Internet providers and citizens to make the community a much better place," Olan wrote in an e-mail. "It has a huge positive impact that is tightly connected to the credit union concept of 'not for profit, but for service' and really demonstrates to the public (and politicians) how CUs are in fact very different and deserve a tax exemption."
Now it seems at least one other credit union (and a much smaller one at that) is trying it. CUES VP/Publications Mary Arnold pointed me to an article in the Oct. 29 edition of Credit Union Journal about sponsorship of free wireless being undertaken by $252 million INOVA Federal Credit Union, Elkhart, Ind. According to that article (you'll need an account to access), INOVA FCU is teaming with the city of Elkhart to provide free wireless Internet access along the city's RiverWalk development. The CU's commitment is $1,200 a year to pay the monthly Internet service fee.
Perhaps the ball is rolling and more CUs will find partnerships like this soon. "Please help me to get out the word in our industry as other industries are beating us to it (like banks)!" Olan asked me via e-mail. Done deal, Olan! Best wishes with the project.
