Bank failures and media coverage of them have led credit unions to renew their safety and soundness marketing campaigns.
"Yes, we are about to include some safety and soundness messages in our newsletter in September and we've also bought Bauer decals for every one of our branches," said Merrill Mann, vice president of the $1.7 billion APCO Employees CU of Birmingham. He was referring to the BauerFinancial five-star rankings of financial performance, which have been cited by the Alabama media in comparing banks and CUs.
Reporters have focused on last week's disclosure by the $26 billion Colonial Bank chain of Montgomery-the state's second largest-of a reported $606 million second-quarter loss, including comments about its long-term survival and search for a merger partner or fresh capital.
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