'Pay What You Can'
Policy Adopted by CUES

MADISON, Wis. — In an effort to help facilitate collaborative solutions to the challenges credit unions are currently facing, the Credit Union Executives Society it will waive its CEO Network conference fees for those who can't afford to pay.

CUES new "pay what you can" policy wasn't born from a need to fill seats at the event, though Christopher Stevenson, professional development manager, said registration is down a bit from last year. Instead, CUES is sacrificing revenue so that it may assist the industry in finding some answers to common problems through collaboration.

"Basically, if a credit union can't afford the conference fees, they can pay nothing or $100 or $300, whatever they can afford," Stevenson said, adding that credit unions that need the most help are the ones who can't afford the conference.

It's not just small credit unions that are having difficulty coming up with the regular conference fees, which run on the shy side of $1,000 for CUES members. Medium and large credit unions are struggling too, counting every penny, Stevenson said.

CUES is pushing so hard for credit union executives to collaborate, Stevenson said conference goers who wish to cut a deal on the spot will have access to one-on-one private meeting rooms.

"If organizations like CUES aren't willing to step up and facilitate this type of discussion, who will?" Stevenson asked.

Founders FCU Declares
A $6M Bonus Dividend

LANCASTER, S.C. — Founders Federal Credit Union is giving back to its members in the form of a $6 million bonus dividend.

"The incredible support we have received from our members has allowed us to declare a bonus dividend," said Bruce Brumfield, president/CEO. "During a time when other financial institutions have been forced to close their doors, Founders is thriving and this is just one of the ways we share our success with the members who made it possible."

This is the second time Founders has returned a dividend to its members of that size. In 2006, the credit union also distributed a $6 million dividend and distributed a $4 million bonus dividend in 2003 and $2 million bonus dividends in 2000 and 2001. Over the last eight years, Founders has returned more than $14 million in dividends to its members.

"This strategy to put our members first is what separates us from other financial institutions. It's what makes us different. A financial institution actually returning money is almost unheard of in today's world. This is not only a testament to the strength of Founders but also a testament of how much we value our loyal members."