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Volume ‘Is Triple’ On CU Search Sites 
1/25/2010 

 

Consumers are being driven in higher numbers to credit union Web sites as a result of the media and government focus on big bank practices, according to NAFCU and CUNA.

NAFCU, for one, said this week its “CULookup” locator has recorded “a tripling of volume” since the first favored mention of CUs appeared on New York pundit Arianna Huffington’s “Move Your Money” Web site.

For days, both CUNA and NAFCU have promoted their online systems aimed at providing access and convenience for consumers to make the switch from banks to CUs.  NAFCU noted that the Huffinton Post first  listed  NAFCU’s “call to action”  on Jan. 6 with commentary by  Fred Becker, president/CEO of NAFCU.

“The groundswell of positive recognition of credit unions generated by the Huffington Post campaign is a welcome testament to the good work credit unions are doing as not-for-profit, member-focused institutions,” said Becker.   The tripling of traffic, he said, “clearly reflects the keen interest that we have generated among consumers for a solid alternative to banks.”

"It doesn’t do us any good to generate great media coverage concluding that credit unions are better than banks unless we make it very easy for consumers to find one they can join,” he added.

CUNA said also its “creditunion.coop -Quickfind” also has enjoyed high volume following a contributing article on CU advantages by CUNA President Dan Mica appearing also Jan. 6 on the Huffington Post Web site. “We’ve seen a 300% traffic jump,” said a CUNA spokesman noting also CUNA’s “Quickfind” link is comprehensive in covering state and federal CUs.

Separately, CUNA also said  Mica  this month cut a new YouTube video urging viewers to "Move their Money" to a CU.

Readers Comments

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    • 1/25/2010 12:56:45 PM
    • Ondine Irving
    • Credit Card Finders
    • It sure would be nice if the National Credit Union associations can UNITE for the benefit of the American Consumer and have just ONE national resource for America to find a credit union. I personally do not like NAFCU's as it is incomplete. In the Chicago area, some of the biggest credit unions such as Baxter, Motorola, Great Lakes, Consumers do not come up....hmmmm...because they are not members of NAFCU??? I vote for CUNA's credit union locator as the superior finder. Please quit misleading the American public, NAFCU- and do what is RIGHT!
    • 1/25/2010 4:13:02 PM
    • JD
    • Creditunions, Huffington Post
    • It is worth noting that: The articles on the Huffington Post did not initially mention credit unions. Readers (including myself) started leaving comments saying that the articles neglected credit unions, which typically offer consumers the most competitive and best-service banking experience, across the country. I have been a member of the Credit Union of Colorado since 1983, and kept it as my main bank even after moving to Los Angeles in 1986. I tell everyone to join credit unions - they are more prudent than banks, and non-profit!
    • 1/25/2010 5:02:38 PM
    • George Bubnis
    • Move their Money" to a CU
    • I favor thia proposed practice
    • 1/25/2010 5:24:16 PM
    • JD
    • Creditunions, Huffington Post
    • It is worth noting that: The articles on the Huffington Post did not initially mention credit unions. Readers (including myself) started leaving comments saying that the articles neglected credit unions, which typically offer consumers the most competitive and best-service banking experience, across the country. I have been a member of the Credit Union of Colorado since 1983, and kept it as my main bank even after moving to Los Angeles in 1986. I tell everyone to join credit unions - they are more prudent than banks, and non-profit!
    • 1/25/2010 6:48:54 PM
    • Diogenes
    • Oh Please
    • Why do you pick on NAFCU? You can't even go to a CUNA meeting unless you're a member -- can't buy one of their publications unless you're a member -- can't use any of their online services unless you're a member. I could go on and on. If there is one trade association that deserves to be criticized for maintaining a closed environment, it is CUNA.
    • 1/25/2010 8:26:50 PM
    • Lewis Louthean
    • SACK YOUR GREED DRIVEN BANK
    • SACK YOUR GREED DRIVEN BANK - JOIN THE OTHER 30% OF ECONOMIC SMART AUSTRALIAN CONSUMERS The ALTERNATIVE Australian transparent “monetary system” are credit unions or registered “Mutual ADI's”. The Mutual Banking Code of Practice (MBCOP) is the code of practice for Australia’s credit unions and mutual building societies. The Mutual Banking Code of Practice commenced on 1 July 2009. Members of credit unions and mutual building societies can have confidence in knowing they are covered by a market leading, plain English commitment to fair and responsible banking. The Code is just another example of the value credit unions and mutual building societies place on improving the financial well-being of their members and their communities. Mutual banking delivers member-focused, competitive retail financial services – outstanding services and fairer fees. Credit unions and mutual building societies exist to serve their members, not simply to drive high profits for external shareholders. The Mutual Banking Code of Practice is the public expression of our commitment to these fundamental principles – a legal and moral commitment to delivering on our promise to members of mutual financial institutions. While global financial markets continue to face upheaval, Australian credit unions and mutual building societies are well placed to continue delivering for its members. With the big banks increasing their share of the market and the demise of second-tier lenders, credit unions and mutual building societies are more essential than ever to maintain competition in the marketplace and provide real choice for Australian consumers. AUSTRALIAN CREDIT UNION INDUSTRY BODY For full transparent facts on Australian "mutuals" read here: http://www.abacus.org.au/ Copy of the full code of practice by Australian credit unions hereunder: http://www.abacus.org.au/images/stories/publications/mbcop/MBCOP_Booklet_-_Jan_2010.pdf For further details on credit unions read hereunder: http://freerisk.org/wiki/index.php/Credit_union GLOBAL FINANCIAL CRISIS For knowledge based facts on the GFC and other Sovereign Nations’ regulatory market reform actions - go to this site hereunder: http://freerisk.org/wiki/index.php/Main_Page http://freerisk.org/wiki/index.php/Special:Allpages Cheers – happier 2010 and knowledgeable economic reading to all consumers Lewis Louthean 9/53 Thompson Road North Fremantle 6159 Western Australia Australia
    • 1/26/2010 1:15:28 PM
    • Montana Credit Union CEO
    • United Front
    • I agree with Ondine and the other posters- it is ridiculous that now, arguably at the prime moment for credit unions to mobilize and capitalize, we are reduced to having to belong to NAFCU, CUNA, or any other particular group just to show up on a locator! So much for the cooperative spirit starting at the top. Our league does not currently belong to "Findacreditunion.com" so no listing there and we are not presently NAFCU members, so no listing there. It is very frustrating.
    • 1/26/2010 1:46:38 PM
    • Jeffry Pilcher
    • JoinACreditUnion.com
    • The NJ Credit Union League owns JoinACreditUnion.com and isn't using it. Why doesn't someone buy it from them and put it to good use? There's no reason there can't be a national "Credit Union Revolution." For that matter, CreditUnionRevolution.com
    • 1/26/2010 2:17:33 PM
    • Jeffry Pilcher
    • Is it really the fault of NAFCU and CUNA?
    • Why do credit unions wait for someone else like Huffington to tell their story? Why don't credit unions take control of their own fate? What's preventing credit unions from collaborating to create their own online CU finder? If a third party facilitator is absolutely necessary, why not Callahan & Associates or Filene?
    • 1/26/2010 4:37:22 PM
    • Ondine Irving
    • Card finder
    • I will be creating a credit union finder to tie into Credit Card Connection which will be comprehensive and complete...not to mention the backing of Suze.

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