SPECIAL: CUs are being recognized as great businesses (no, really!)

by Ron Daly

Well, it's taken some time, and we still have a long way to go as an industry, but more and more recently credit unions are getting recognized as great businesses. Take Shell FCU for example, who recently launched iLife to sweeping success and continues to serve its members in a way that really makes a difference. Click here for our previous article on DMI's home blog.

We were also excited to learn about Local Government FCU, who were recently applauded as one of the top business leaders in their area. From the article on their success: 

Local Government FCU was highlighted for the launch of LGFCU Financial Partners LLC, a CUSO that made $14.5 million in loans in 2008. The credit union also committed $50 million to purchase North Carolina municipal bonds to keep state infrastructure moving forward. Business Leader Media also recognized the credit union’s mortgage assistance and scholarship programs and the introduction of a Visa debit card that donates 50% of the merchant’s transaction fee from every purchase to the N.C. Association of Rescue & Emergency Medical Services. 

That's awesome. 

But I can't shake the feeling there are more - more CUs with happy members, more CUs that are giving that famous "Little Guy" a fair shake and a sturdy umbrella, more CUs that need recognition. Maybe they've already been recognized by their local press, their rotary club, the TV station in town...whatever it is, I want to know about it. 

This is important stuff, people. Too long, we've been laboring under the illusion that we'd be the financial world's "best kept secret" , and that we'd have to settle for what that brought for us. Why? Let's go show them that CUs are GREAT businesses, with GREAT intentions and GREAT results. 

Tell us your CU's recognitions in the comments section, or send us an e-mail.

Comments

[Elliott]

Other numbers:

The American Consumer Satisfaction index for the credit union industry is currently at 84, second only to cleaning supplies (apparently Americans are really happy with cleaning supplies).

The average Net Promoter Score for credit unions is 55, compared with 11 for banks.