MONTVALE, N.J. — Paragon Federal Credit Union, hoping that CU members will want to surf the Facebook and MySpace tide, said it will boot up a social networking site.

The $400 million Paragon has teamed up with Youngworth Public Relations and Leverage Software to launch Memberville. The CU said the national social networking site will allow other credit unions to join in and provide businesses with a platform to connect with credit union members. Since the Internet is an often crowded two-way street, CU members will have the means to directly message those businesses, credit union officials and members of their own and other credit unions. The site is scheduled to launch on June 23.

"With more than 88.5 million credit union members in the U.S. alone, the credit union industry is uniquely positioned to capitalize on the future of social media," said Paragon President/CEO Richard Rays.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.