From both the business and humanitarian side, the militarydrawdown in Iraq is generating scores of new products, projects andservices for U.S. military credit unions whose executives recentlygathered in Minneapolis to hear and discuss some of the mostpromising.

The setting was the 47th annual Defense Credit Union Councilconference, which drew 300 of the top CU brass for the four-daygathering at the Hilton Minneapolis.

“We're honored that our credit union can play an important rolenow in helping provide both the critical financial needs andsupport for the dedicated service men and women returning now fromthe Iraq mission,” said Karl Murphy, president/CEO of the $710million Firstlight FCU of El Paso, Tex.

Among a host of new Firstlight ventures launched for Iraqreturnees and trumpeted during President Obama's visit to the FortBliss Army Base was the giveaway of space in a recently openedbranch facility to house USO operations.

The idea of sharing about a third of the facility's 6,500 squarefeet with the USO “was certainly one way we could provide supportto this important organization,” said Murphy. In addition, thecredit union is also sponsoring kids' football camps, water parkoutings, literacy clinics and more to demonstrate its support forthe returning troops and spouses.

Also stepping up to help the latest returnees is the $1.7billion Service CU of Portsmouth, N.H., which outlined a series ofsavings and loan offers as it is “prepared to help our militarymembers and their families face many unique challenges, financialand otherwise, during deployment, relocation andpost-deployment.”

Service CU, said a spokeswoman, will be urging its members totake advantage of “exclusive price benefits with the WarriorRewards Program including a Warrior Savings product.”

Moreover, “military members serving in a combat zone can earn10% APY on savings while deployed, and, in addition, Warriors canreceive a one percentage point bonus on a special certificate rateand a percentage point off most loans, said the spokeswoman. “Fornewly enlisted, Service Credit Union's STAR program offers higherdeposit rates and lower loan rates.”

Service CU said it also will be stepping up its participation inPeace Greeters, which supports troops departing and returning fromoverseas missions by greeting them at the Portsmouth airport.

“Members of the credit union regularly volunteer and the creditunion provides a monthly monetary donation to make sure arrivingand departing troops receive a heroes' welcome,” said a Servicerelease.

At the Minneapolis DCUC conference, Keith Dove, the tradegroup's liaison officer to the Marine Corps, suggested CUs be awarethat military members coming out of the Iraq zone would likely bedrawing down savings urging CUs undertake campaigns to encourage areturn to those products.

The DCUC meeting also noted that the big issue of the day wasthe heightened competition from USAA Financial, a services firm, inproviding on-base branches and ATMs.

On that, “all of the speakers emphasized that both theDepartment of the Navy and the Marine Corp strongly supported theone bank/one credit union policy,” said DCUC. “USAA would only beallowed o come on base by winning the traditional open solicitationprocess.”

Also at the conference, three CUs, Fort Sill FCU in Oklahoma,Navy FCU and Harborstone CU, Tacoma, Wash. were recipients of theDistinguished Service Award, the highest honor bestowed by DCUCcovering respective branches of the U.S. Armed Forces.

Although criteria differs slightly for each branch, the threewere cited for exceptional delivery of services, community supportand financial education and leadership plus other elements.

Fort Sill received the Army Award for “outstanding commitment toprovide quality products and efficient service” to soldiers andtheir families particularly to junior enlisted officers in the areaof literacy as well as development of wireless products. It was thesecond year in a row Fort Sill has won the award.

Navy FCU's Souda Bay Branch in Crete, Greece won the Navy/MarineCorps Award for its “dedication, attention to detail, extraordinaryperformance, and outstanding command support.” The Souda Bay teamwas also recognized for its “participation with the welcomingcommittee, offering on-the-spot financial assistance as well asvolunteering to remain open after normal branch hours to meetsailors' needs.”

Harborstone was honored with the Air Force Award for its“steadfast support of Joint Base Lewis-McChord, with ongoingfundraising activities” involving spouses clubs and retireegroups.

The Washington State CU was also cited for its “quick responseto provide breakfast to the 6,000 police officers and firefighterswho came to memorial services held at McChord Field for four localpolice officers targeted and killed by an ex-convict.” The CU, saidDCUC, “was instrumental in raising the needed funds, getting localgrocery stores to donate food and even making the sandwiches.”

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