RALEIGH, N.C.–Coastal Credit Union said it is making a $2-million commitment over the next three years to CUNA’s national awareness initiative.
As CUToday.info reported here, CUNA has announced a goal of raising $100 million to underwrite its “Open Your Eyes to a Credit Union: awareness effort.
Coastal CU said its commitment for funding will come from its approximately $1.6 million share of the National Credit Union Share Insurance Fund equity distribution.
“If one out of every seven credit unions contributed their portion of the distribution into this collective effort, we can fully fund the entire campaign – right now,” said Chuck Purvis, Coastal president and CEO, in a statement. “We paid into the share insurance and corporate stabilization funds at a very different time, when there was a very different need. The core purpose then was the same as the ‘Open Your Eyes’ initiative now: To act cooperatively and support credit unions and their members across the nation. It makes sense for us to re-commit our share of the equity distribution into a nationwide, mutual effort to lift up credit unions everywhere.”
Added Joe Mecca, VP of communications with the credit union, “Coastal has enjoyed tremendous success from an assertive branding and marketing strategy over the past several years. We’d love to see our peers large and small benefit from a similar effort at the industry level.”
As CUToday.info also reported here, CUNA CEO Jim Nussle said he has heard three responses after announcing the $100 million goal.