The credit union industry's longstanding charity beneficiary, Children's Miracle Network, will undergo a rebranding next month to become Children's Miracle Network Hospitals, but its management is again paying tribute to CU generosity.
"It's humbling to know we have partners like credit unions, who despite these difficult times, have never wavered in their support of our amazing Children's Hospitals and the kids they serve," said outgoing CMN President/CEO Scott Burt.
CMN, which in January will change its nomenclature to cement closer ties to hospitals, said in a statement that CUs remain the third-biggest contributor to the charity at $8.8 million and actually increased donations by 5% this year. Walmart tops the donor list at $36 million followed by Costco Stores at $19 million.
"Given the many challenges facing the credit union community, it's remarkable to see how everyone in the movement has responded to the needs of our children's hospitals over the last year," Burt said. "It really speaks volumes about the character of the credit union community."
CMN, based in Salt Lake City, began advising its client CUs this month about the name change, asking CUs to adopt new logos and promotional material.
In acknowledging CUs' higher participation, a spokesman said the amounts are noteworthy since general fundraising has been flat in 2010.And yet children's hospitals have witnessed huge burdens because of the economy. "Folks out of work can't afford going to the pediatrician and so the only place left are hospital emergency rooms," the spokesman said. "That makes these hospitals pretty stressed out."