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Penny War Raises Money for Cornerstone Credit Union Foundation
Thursday, May 1, 2014 6:50 AM

In celebration of National Financial Literacy month, employees at Resource One CU’s “penny war” fundraiser collected more than $364 for the Cornerstone Credit Union Foundation. Penny war is a spirited fundraiser used by organizations to raise money for charity.

“The Cornerstone Credit Union Foundation does so much to support credit unions and our efforts to meet the needs of our members and communities,” notes Phillip Crocker, financial educator with the Dallas, Texas-based credit union. “By supporting the Foundation, we are supporting future credit union outreach programs, as well as the professional development of credit union staff and volunteers.”

The object of the "war" is for each team to collect as many pennies as possible. Each penny equals one point. The war is not just about collecting the most pennies. Teams can sabotage other teams by putting silver coins and bills in the collection jars. The face value of the coins and dollars reduces the number of points earned from pennies.

Resource One CU teams included:

  • Remote
  • Collections
  • Southside
  • One Arts
  • Compliance/commercial
  • IT/Facilities
  • Unified Lending
  • Cedar Hill
  • Tower/Real Estate
  • Irving
  • Accounting
  • Carrolton
  • Mesquite
  • Marketing/HR/Training
  • Garland
  • Jones
  • Oak Forest

The credit union’s Irving team collected the most pennies - $14.65, but they also collected the most silver - $50.50, which dramatically decreased their points. The Mesquite branch collected $11.82 in pennies, but they also collected $31.55 in silver. And although the Oak Forest branch only collected $8.53 in pennies, they won the “war” because they only collected $2.25 in silver. The Cedar Hill branch came in second because they collected $8.44 cents in pennies, and $7.30 in silver.

“The penny war created a lot of spirited competition amongst staff,” added Jennifer Grinder, chief sales & marketing officer with Resource One CU. “It wasn’t so much about winning as it was to just have some fun and taking pride in the fact that we’re raising money for a worthy cause.”

The winners of the penny war, Cedar Hill and Oak Forest teams, won a free lunch from the credit union.