GREENSBORO, N.C. — The national hype by credit unions and their trade groups to get out a safety and soundness message that will resonate with the public and lawmakers took a new turn this week with emphasis on both high-profile news media and getting more specific on products and services.
"We sent out contact information to our member credit unions asking for tangible product information on how credit unions are ready to serve the public" during a crisis period, said a spokesman for the North Carolina Credit Union League.
The league got back a number of responses on various loan programs, which it compiled into a news release distributed during the week to newspapers and TV outlets across the state.
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Separately, the Pennsylvania Credit Union Association sent out a press release Tuesday on its own quoting Diana Roberts, chair and president/CEO of Hershey FCU, reiterating that CUs in her state "have not engaged in the risky lending practices like many other players in the financial marketplace and therefore we as credit unions have no need to tighten our lending policies since we have always been lending prudently."
Meanwhile, CUNA noted that CNN, Washington Post and the Wall Street Journal all gave favorable mention on CU deposit safety and federal insurance. One CNN piece Thursday had a Forbes editor declaring that CUs are run conservatively and "you want to go for a credit unions," adding, in this kind of crisis atmosphere, "grab them while you can."
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