The $317 million, 22,500-member United Teletech Financial Federal Credit Union in Tinton Falls, N.J., is launching its third-annual Million Dollar Community Challenge, a campaign aimed at helping members save at least $1 million in interest expense, while the credit union donates to local charities based on those savings.
During the first two years of UTF'sCommunityChallenge, members saved more than $3.6 million in interest expense, and more than $31,000 was donated to charities, the credit union said.
While UTF is in its third year of the challenge, many other credit unions throughout the country are beginning to launch their own Community Challenge campaigns with the help of UTF and their partner agency MemberTree Consultancy, the New Jersey credit union said.
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