SAN FRANSICO -- California and Nevada Credit Union League CEOBill Cheney stunned conference goers yesterday during the group'smorning general session, announcing its high-profile advocacycampaign budget will be slashed for 2009, from $6 million to $1million.

The league had sent a letter to members early last month,detailing plans to reduce the advocacy budget to $4 million.However, upon seeing third-quarter financials and receivingfeedback from struggling members, the leagues decided further cutswere needed, said Spokesman Henry Kertman.

Where will the cuts come? Practically everywhere, but consumeradvertising will take the biggest hit. The $1 million willprimarily be spent on grassroots advocacy, Kertman said, which hasbeen increasingly effective for the league, and less expensive.

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

  • Critical 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 and

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