Thank you for sharing!

Your article was successfully shared with the contacts you provided.

<p>WASHINGTON-While the credit union community has already poured a good deal of money into Credit Union House, more funds are needed. Credit Union House is currently running $745 under budget on expenses and $1,600 over on revenues for the first quarter of 2002, according to CUNA Vice President of Communications and Media Outreach Pat Keefe. A financial statement will be released for year-end 2001 shortly. “It was our cooperative system in action that made the vision of Credit Union House a reality, and only through your support can Credit Union House continue to serve the credit union community,” CUNA President and CEO Dan Mica, also serving as president of Credit Union House, and Credit Union House Chairman Dave Chatfield wrote in a recent letter to credit union leaders. Interested parties can donate funds to Credit Union House at several levels. For example, a party donating $15,000 or more annually becomes a patron level sponsor. Patrons receive recognition, usage of the house for an annual event-including the boardroom and office space as available, a color print of Credit Union House, and a pin. Only two credit unions, Alaska USA Federal Credit Union and WesCorp Federal Credit Union, have contributed at the patron level. The most popular level of giving is the silver level ($1,000 to $2,499) with 19 contributors including CUES and Citadel Federal Credit Union. Contribution levels go down as far as $25 to $249, known as the `Friends of Credit Union House,’ which includes some individual contributors. Groups can also make a one-time donation to become a `capital sponsor.’ For example, CUNA Mutual donated the funds for the videoconferencing equipment. For a $25,000 donation groups can get `front walk pavers’ with their names engraved in bronze disks on the front walk. Boardroom ($50,000) or Landscaping ($20,000) sponsorships are available as well as others. A full listing of contributors is available at www.cuhouse.com. Additional funds for the Credit Union House come from renting it out for events. The standard usage fee for CUNA & Affiliates is $500, while others are charged $1,000. However, Keefe said the board is reconsidering the $1,000 fee because it “may be too stiff.” Fees at comparable facilities were not researched when the initial fee was set but will be considered in the review. Credit Union House also makes minimal income on investments. Currently, Credit Union House has $717,500 in cash and equivalents on hand and total expenses for the year are expected to total $440,000. Keefe explained that some bills probably had not gone through yet, which accounted for the lopsidedness. The net income totals $2,408 for the first quarter of 2002. Money contributed goes strictly toward operations and maintenance of Credit Union House. The 403 C St., NE structure is used for receptions and dinners with credit union groups, Members of Congress, legislative briefings, board meetings, and board planning sessions. [email protected]</p>

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.