CUs Use SEG Outreach to Help Them Ride Out Tough Economy
Given the challenges faced during this tough economy, some credit unions are taking another look at their community outreach efforts.
At Pasadena Federal Credit Union, an emphasis on reaching out to existing select employee groups has proven successful, said John Schaefer, director of marketing/business development at the $134 million credit union.
For example, to celebrate its 75th anniversary, PFCU sponsored a roller-skating party in Glendale at the Moonlight Rollerway skating rink owned by Dominic Cangelosi, a PFCU member and credit union advocate for more than three decades. The party also benefited one of the credit union's SEGs: Rosemary Children's Services, a charity that helps more than 400 abused, abandoned and neglected children each year. The Pasadena and San Gabriel chambers of commerce helped promote the event.
"Many movies and television shows, including a recent episode of "Glee," have filmed at [Cangelosi's] historic rink, so to us it was the perfect venue to raise money for an essential organization like Rosemary Children's Services," Schaefer said.
Tech CU's plans include concentrating on supporting nonprofit organizations and programs that focus on education in the areas of innovation, science, technology, engineering and math. To that end, Tech CU has searched for opportunities that will have a big impact, from working with Intel Math to help teachers improve their instruction through having a better understanding of and foundation in mathematics, to joining forces with Singularity University, a local graduate-level organization supported by NASA that aims to nurture future leaders who will address the world's challenges.
"If Silicon Valley is to maintain its competitive advantage in the global market, students have to be better educated and prepared to succeed in college and compete in the workforce and it starts with the teachers," Vu said. "We want to help them become the leaders of tomorrow and the work being done at Singularity University is phenomenal. "They look for students and executives at the top of their industry and during a 10-week summer program they challenge them with the big question of, 'How do we change the world and impact the most people to improve society?' It's interdisciplinary work being done to create new solutions and interestingly two of the ideas out of last summer's program got venture capital support."