Western Corporate FCU has hopped aboard the American Debt Relief Challenge train, featuring the program today in its monthly Credit Union Essentials Webcast, in an attempt to help credit unions find new revenue streams. The free one-hour telecast will start at 11 a.m. Pacific Time; registration is available at www.wescorp.org.
The goal of the American Debt Relief Challenge is to increase credit union net revenue while saving consumers $300 million, by promoting and measuring the savings from credit union credit card balance transfer programs. According to ADRC promoters, the average family can save $200 a month by transferring their high-interest bank credit card debt back to a traditional rate at a credit union.
"Most small and midsize credit unions have $1 million to lend. A credit card balance transfer program promoted through the American Debt Relief Challenge can generate between $90,000 and $130,000 a month," said Jamie Chase, American Debt Relief Challenge founder and principal of Credit Union Strategic Planning.
