Posted by Lisa Hochgraf
A few years back I had the good fortune to visit $233 million Pittsford Federal Credit Union's Mendon, N.Y., branch, just seven minutes from my home. President/CEO Bill Martin, a CUES member, showed me how his cashless branches work (the CU's other branch, the CU's headquarters in nearby Pittsford, also operates without cash) and sent this editor back home with new insights into the topics I write about. (Thanks again, Bill!)
So my personal experience made me extra happy to see the outstanding press that Bill and his CU got recently in our local newspaper. Not only were the words on the money, but the article was on the front page, just under the fold. Reading the article reminded me that there's no time like the present to get out the good word about credit unions and how well yours in particular is doing in these troubled economic times.
The good press for Pittsford FCU in the Jan. 22, 2009, issue of The Sentinel, leads with "In a clear illustration of how it is 'different,' Pittsford Federal Credit Union's Board of Directors is pleased to announce that another extraordinary dividend will be distributed to Pittsford FCU members/owners for the fifth consecutive year."
Wow! Those are positive words! How much do you want to bet the newspaper printed exactly what was sent to them. Wonderful coverage for the CU.
There's more. Pittsford FCU's board president, Bill Beach, is quoted, giving readers a great education on CUs. Remember, we're on the front page of this well-read local weekly.
"The value of Pittsford FCU membership is clearly demonstrated with this payout," stated Bill Beach, president of the board. "As a volunteer board, we are committed to staying true to the credit union philosophy and giving back to our members whenever possible. This special dividend is our way of thanking members for supporting the credit union through their loyal use of our products and services. As we continue to hear about multi-billion dollar bailouts and corporate bankruptcies, I am thankful for Pittsford FCU's solid financial condition."
And then the article explains, "Credit unions are not-for-profit organizations. Rather than generating profit to facilitate payment of dividends to stockholders, earnings are instead distributed to members in the form of low fees, lower loan rates and higher rates of return on deposits."
I say well timed and well worded.
As another example of a CU that did a great job of explaining recent credit union land events to members, check out this post from the blog of $150 million American 1 Credit Union, Jackson, Mich.
