Officials of the PrimeWay Federal Credit Union in Houston introduced its "LaidoffinHouston" in August and has received favorable public support for the effort as well as TV coverage. Erie General Electric FCU had a similar experience with its program.
The Pennsylvania CU, readily acknowledging it got its program idea from PrimeWay by surfing the Internet, launched "LaidoffinErie" early last month.
Both online services provide guidance to members and nonmembers on financial product advice but also contain direct links to placement and recruiting firms, with PrimeWay connecting to SEGs that have jobs to offer. PrimeWay has also hired one of its investment advisers to provide free financial counseling.
Erie GE said it has already found its "LaidoffinErie" online link "a very positive service to the community at a time of economic distress."
That is particularly the case at GE facilities in Pennsylvania, which have laid off 1,200 workers at one site and 260 at another, said Erie GE.
"We do have plans to work with several groups in Erie which might need presentations and who will cross-link to laidoffinerie.com," said Trent Mason, chief marketing officer.
Both the Houston and Erie sites emphasize financial education and sources to get help in keeping personal finances in order. Erie said it also is holding a job-hunting seminar with an emphasis on interviewing skills and polishing resumes.