Media Coverage Makes Indiana CUs Shine
INDIANAPOLIS-Talk about free advertising. Indiana's credit unions have received positive media coverage in the January/February issue of BizVoice magazine, which is published by the Indiana Chamber of Commerce and distributed to more than 12,000 readers including company CEOs, business leaders and government officials. "This kind of coverage provides a valuable avenue to get more of our credit union message to business and government leaders," said Indiana Credit Union League President John McKenzie. One article covered highlights of a roundtable hosted by the chamber that McKenzie participated in with a banking industry representative, an attorney who specializes in financial institutions, and a finance professor. The roundtable focused on similarities and differences in credit unions compared to banks, as well as credit unions' federal tax-exemption. McKenzie talked up the credit union difference. He noted that how Indiana's credit union members receive $160 million a year in benefits, and that small businesses would be the winners if credit unions are permitted to expand business lending services. He also cited credit union involvement with a program in South Bend that helps low- and moderate-income residents secure mortgages at better terms. "There's no personal enrichment in the credit union cooperative structure. Some of the problems that have crept into corporate America as far as personal enrichment and how that has manifested itself, that isn't anywhere to be found because the credit union structure in and of itself protects from it," stated McKenzie in the article. Another article entitled "Financial Industry Update," provided an overview of some of the challenges faced by financial institutions and how they are being met. Quotes from La-Porter FCU President Ron Budzinski and Beacon CU Vice President of Lending Todd Beehler regarding regulations, security, and the services provided by their credit unions were found throughout the article.