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CUNA Reports Positive Media Impact on Credit Unions
Tuesday, January 6, 2015 6:30 AM

Credit Union National Association reports that 2014 was perhaps the year of the credit union in the eyes of the financial media and its readers. The article cites numerous ways the industry has made an impact.

Among many others, The Washington Post picked up the story of the 100 million memberships milestone, and The Fiscal Times and Daily Finance ran the news on their websites. Numerous business journals nationwide amplified word of the milestone and several radio outlets interviewed CUNA representatives to discuss the accomplishment.

After CUNA produced a survey that illustrated just how great an impact the Target data breach was on credit unions, media outlets likeg 24/7 Wall St., Bankrate.com, Yahoo! Finance, and a number of business journals nationwide covered the story. The same result occurred after CUNA's Home Depot survey, when an assortment of business journals either ran the results of the survey or the widespread merchant associations' backlash to it.

Credit unions and their trade associations continue to make waves in the media on the data breach front, with The Hill regularly writing about the work CUNA and others have done to put pressure on merchants and to raise awareness about the issue in Washington.

Meanwhile, CUNA reports that when the American Consumer Satisfaction Index was released in November, it found that credit unions trumped banks in just about every category related to financial services, especially in customer satisfaction. News outlets such as The Washington Post, MONEY magazine, Daily Finance, and The Fiscal Times all picked up the story.

Further, articles such as the one recently posted by WallStCheatSheet.com that compare banks to credit unions—and pick credit unions as the better option every time—ran on a regular basis in 2014.

In large part, the media articles focused on the great work credit unions do in their communities and for their members.

Those highlights included:

  • The New York Times featured prize-linked savings accounts on its front page;
  • The Washington Post reported on the impact CUNA's 2014 Governmental Affairs Conference had on Washington, D.C.;
  • Bankrate.com 's credit union checking survey found that 72% of the nation's largest credit unions offer free checking, compared with 38% of banks;
  • Inc. magazine explained in full detail why consumers should look to credit unions for their financial services;
  • The Huffington Post wrote that credit union small-dollar loans can combat payday lending;    
  • Bankrate.com said that credit unions help members rebuild their credit scores; and
  • Daily Finance reported that credit unions can be a "compass away from bank fees."