WASHINGTON — The big spike in air travel expense and gas prices could cut deeply into credit union travel budgets for 2009, CU executives say, but for now registrations for a spate of industry conferences this summer are holding up well.
That includes the CUNA America's Credit Union Conference and Expo in New York, which is expecting a surprising 10% attendance jump over 2007.
A sampling of CU views by Credit Union Times last week on travel and energy concerns found CUs already looking to pare conference expenses this year or preparing for it this fall when 2009 budget forecasting rolls around.
“You can say we've cut our internal staff budget for conference attendance by 25% for 2008,” said William Hayes, president/CEO of the $347 million Verity CU of Seattle. His counterpart at Washington State Employees CU in Olympia, Kevin Foster-Keddie, said also his CU has been scrutinizing expenses, forecasting that travel business generally “will be way off later in 2008.”
Many note, however, that 2008 conference travel for directors and senior managers was booked well in advance so, as Paul Stull, senior vice president-marketing at the $1.1 billion Arizona State CU of Phoenix, put it, “I've seen no knee-jerk reaction to change things now though we are clearly concerned.”
Meanwhile, CUNA said despite high prices, New York is proving a popular draw, with 1,600 expected for its June 29-July 2 conference at the already sold-out Hilton New York and all of its 160 booths now locked up by vendors
NAFCU is projecting its annual conference a week later, July 8-12 in San Diego, will have a good turnout but fall short as was expected from its Hawaii conference last year, which drew a whopping 2,000. CUNA Mutual Group said its annual Discovery conference, which opens this week in Hollywood, Fla., will have 780 attendees. “Not significantly different than past years,” said a spokesman.
Trade executives said they realize that conference expenses could come under the knife later in 2008 “though attendance has done very well this year” based on keeping conference content at a high level, noted Fred Becker, president/CEO of NAFCU.
On a personal basis, Becker said he was astounded, for example, at the airlines imposing $25 extra baggage charges and other fees “since I learned that first-hand after booking Labor Day flights for my daughter's wedding. I think the airlines have simply picked up the bankers' nickel-and-dime habits.”
State league managers said so far they have witnessed no curtailment of conference attendance by member CUs, but they remain concerned about next year.
“I haven't heard of any credit union saying they are not going back east for CUNA meetings or Hike the Hills, but I can say we are all trying to figure out which meetings in 2009 will be important to us and maybe there will be some we don't need to attend,” said LaRaye O'Brien, communication specialist for the Idaho Credit Union League.
Elsewhere, other league officials said they were looking at exploring ways to save gas expenses for the very smallest CUs that feel the pinch about flying or driving to distant cities for conferences. “We might be encouraging more participation in Webinars,” said a spokesman for the South Carolina League.
John Herrera, Latino CU Chairman, Wins Person of the Year Award
DURHAM, N.C. — For his volunteer work in the credit union field, John Herrera, chairman of Latino Credit Union, recently received the Ronald J. Hutchins credit union person of the year award.
The award is given annually to the persons who “demonstrate exceptional qualities of leadership in his/her own credit union and who display outstanding dedication to the credit union movement,” according to Latino CU. Herrera received the award during the North Carolina Credit Union League's annual meeting on June 9.
“Through determination and education John has 'made it in America' and, now he gives back through his compassion and commitment to his country, his community and his credit union,” said Jim Blaine, president, State Employees' Credit Union. “Read his story, John is truly one of my favorite, new American heroes.”
Herrera is one of the original founders of the Latino Community CU, founded to provide low-cost, quality products and service. Herrera is frequently contacted by numerous organizations seeking advice and support to develop financial institutions serving the unbanked and immigrant communities, including the Nobel Prize winning Grameen Bank that plans to expand its model to the United States.
Herrera's daytime job is vice president of Latino/Hispanic Affairs for the Center for Community Self-Help. Herrera is also a board member of the North Carolina Minority Support Center, a statewide Community Development financial Institution intermediary, which provides support to community development credit unions that provide services to minorities, primarily African Americans and Latinos.
In November 2001 Herrera was elected to the board of aldermen in Carrboro, N.C., and reelected in 2005, becoming the first Hispanic immigrant ever elected to municipal office in the state.
Ohio Foundation Celebrates 10 Years of Grant Giving
DUBLIN, Ohio — The Ohio Credit Union Foundation is praising its supporters, donors and grant applicants and recipients as a recent grant brought the total amount of funds awarded to more than $1 million.
The grant that eclipsed the $1 million mark was awarded earlier this year to Chivaho Credit Union. Laura Roberts, CEO of Chivaho, applied for the grant to assist her with the third year of tuition for CUNA Management School. The foundation grants also assisted Roberts with her two previous years of management school and she will receive her diploma this summer.
“This is a special milestone that reflects positively on the value-driven mindset and giving nature of credit unions in Ohio,” said Kathy Kanipe, CEO of Parish FCU and chair of the OCUF board of trustees. “The foundation will continue its great work, supported by its board members and hundreds of generous donors, and I see no reason why we will not be celebrating a similar milestone in another 10 years, if not sooner.”
The foundation also supports national credit union efforts and is the third largest contributor to the Biz Kid$ television program, OCUF reported. In 2007, the foundation provided $10,000 to the National Credit Union Foundation to assist California wildfire victims and $5,000 to the World Council of Credit Unions for earthquake relief in Peru.
The 2008 fundraising goal for OCUF is $280,000, a nearly 60% increase in funding when compared to the initial fundraising total of $167,000 in 1998. OCUF said it plans to award $250,000 in grants in 2008.
Ohio Foundation Celebrates
10 Years of Grant Giving
DUBLIN, Ohio — The Ohio Credit Union Foundation is praising its supporters, donors and grant applicants and recipients as a recent grant brought the total amount of funds awarded to more than $1 million.
The grant that eclipsed the $1 million mark was awarded earlier this year to Chivaho Credit Union. Laura Roberts, CEO of Chivaho, applied for the grant to assist her with the third year of tuition for CUNA Management School. The foundation grants also assisted Roberts with her two previous years of management school and she will receive her diploma this summer.
“This is a special milestone that reflects positively on the value-driven mindset and giving nature of credit unions in Ohio,” said Kathy Kanipe, CEO of Parish FCU and chair of the OCUF board of trustees. “The foundation will continue its great work, supported by its board members and hundreds of generous donors, and I see no reason why we will not be celebrating a similar milestone in another 10 years, if not sooner.”
The foundation also supports national credit union efforts and is the third largest contributor to the Biz Kid$ television program, OCUF reported. In 2007, the foundation provided $10,000 to the National Credit Union Foundation to assist California wildfire victims and $5,000 to the World Council of Credit Unions for earthquake relief in Peru.
The 2008 fundraising goal for OCUF is $280,000, a nearly 60% increase in funding when compared to the initial fundraising total of $167,000 in 1998. OCUF said it plans to award $2?? 1/2
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