Cash Mobs for Small Businesses Backed by Credit Unions
When supermarket giant Whole Foods Market opened a store in a Sacramento neighborhood, a local food co-op immediately noticed a dip in customers.
While students at nearby University of California-Davis flocked to the natural and organic food grocery store, businesses like the Davis Food CO-OP experienced a slight drop in sales after the defection, said Chris Blackman, marketing manager at the $205 million Yolo Federal Credit Union in Woodland, Calif.
Mountain CU wants to support businesses that currently have accounts with the credit union and going forward, take the cash mobs to the 10 counties that make up its field of membership.
“We don’t have a huge amount of business accounts but we want to keep it going about every other month,” Angel said.