Aiming to put a lid on any more lost members, the Pennsylvania Credit Union Association is ditching the concept of mandatory dues to fund awareness campaigns and the switch has already paid off with its first convert, the $475 million Merck Sharp & Dohne CU.
In reaffiliating, the CEO of the Chalfont CU, David Whitehead, told Credit Union Times Wednesday he is now "most satisfied" with the policy switch announced this week by the PCUA board to reverse a four-year-old mandatory rule.
That policy has rankled a number of small and medium-size CUs, triggering some disaffiliations. The vast majority, however, ended up paying the ad assessments to cover the $1.1 million iBelong TV/radio campaign which its backers claim has been highly successful in reaching a younger and female demographic.
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