From Vermont to California, credit unions spotlighted by the national media in the current anti-big bank furor are expressing newfound delight this week at their safe-haven status.
"That is simply good news for all of us," declared Frank Pollack, president/CEO of the $13 billion Pentagon FCU of Alexandria, Va., maintaining the industry has achieved a new financial milestone as an alternative lending source.
And in Dubuque, Ia. the $723 million Dupaco Community CU, featured Tuesday in a nationally-syndicated "CBS Moneywatch" news piece, said it was "obviously pleased " to get the exposure to its rate offerings and the tale of a local couple denied by a bank for a home equity loan.
"The reporter had been down here to do the interviews and we had known for some time that the story would be appearing," said David Klavitter, senior vice president-marketing/public relations.
For both Pentagon and Dupaco as well as other CUs cited in Internet and network articles, including the widely quoted "Huffington Post" blog, low rate, membership availability and friendly attitudes plus the anti-bank vengeance were cited most frequently as reasons for the public to switch.
"It's too early to tell our members' response to the CBS Moneywatch story, but we're currently touting it on all electronic media channels, such as our Web site (dupaco.com), Facebook, Twitter, and internal electronic signage," said Klavitter.
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