FOR IMMEDIATE RELEASE
New SDSU Partnership on Naming Rights and On-Campus Branch
We are excited to announce our new partnership with San Diego State University on the renovation of the Open Air Theatre at SDSU, which includes the renaming of the on-campus amphitheatre to Cal Coast Credit Union Open Air Theatre.
Our 10-year naming rights agreement includes an on-campus branch and ATM located along the courtyard within the new Aztec Student Union and an ATM located at the Cal Coast Credit Union Open Air Theatre. We will also partner with the Associated Students to provide financial workshops.
This is an outstanding growth opportunity for the credit union to reach over 30,000 students, staff and faculty. It will also help to support our continued commitment to providing our members with excellent value and a competitive array of financial services. We expect to open our new SDSU branch in the spring and will update you as our plans are finalized.
A press conference announcing the agreement was held on November 18 and it was very gratifying to hear students express their excitement and support of the credit union being on campus. Several students also spoke about the need for financial education and how the workshops could help students set and achieve their financial goals.
The naming rights agreement will help the university make needed improvements to the Open Air Theatre such as replacing the stage roof, seating, restrooms and expanding the concourse.
The new "Cal Coast Credit Union Open Air Theatre" logo will be featured on the large marquee sign on I-8. Signage will also be installed at the main entrance of the theatre, as well as at other campus locations.
We share this exciting growth opportunity for the credit union with appreciation for the loyal support of our members, insightful leadership of our volunteer Board of Directors and dedication of our staff.
Marla K. Shepard
San Diego, CA, November 18, 2013
SAN DIEGO - Two of San Diego's most respected institutions, San Diego State University and California Coast Credit Union, are partnering on the renovation of the Open Air Theatre at SDSU. The on-campus amphitheatre will be renamed the Cal Coast Credit Union Open Air Theatre under a new agreement, the two announced today.
The 10-year naming rights agreement will officially go into effect January 1, 2014. The Open Air Theatre sponsorship is just the start of a new partnership between the two entities, as California Coast will also open a branch and ATM along the courtyard within the much-anticipated Aztec Student Union scheduled to open this January. The credit union will also partner with Associated Students of SDSU to provide financial seminars for students in Aztec Student Union.
"We're very pleased that California Coast Credit Union has decided to partner with us," said Tom McCarron, SDSU's Vice President of Business and Financial Affairs. "The credit union has a long legacy of serving the educational community and was founded by local teachers, so we are excited to partner with them to help serve the financial needs of our students, faculty and staff and to add to the success of the Open Air Theatre into the future."
The agreement will help the university make needed improvements to the facility, such as replacing the stage roof, seating and restrooms, and expanding the concourse. The credit union will also provide an ATM at the amphitheatre.
Opened in 1941, the Cal Coast Credit Union Open Air Theatre is one of the area's longest running outdoor venues and features state-of-the-art staging and sound. The 4,600-seat venue has played host to an outstanding mix of entertainers such as Madonna, The Offspring, Franz Ferdinand, Adele and The Fray. Its history also includes a 1964 speech by Rev. Dr. Martin Luther King Jr., and performances by Joan Baez, Benny Goodman with the SD Symphony, Frank Zappa, Jimmy Buffett, Bob Marley and Bill Cosby. Operated by the Associated Students of SDSU, Live Nation is the concert promoter for the venue.
"The Open Air Theatre has a fascinating history in San Diego and we are very proud and excited to partner with SDSU and the Associated Students to contribute to its future success while helping the students, faculty and staff achieve their financial goals," said Marla Shepard, California Coast's president and CEO. "As we begin to celebrate our 85th year of service, partnering with the university reflects our commitment and gratitude to the educational community and to San Diego."
Signage reflecting the new name will soon be installed on the main entrance of the OAT and the university's marquee on I-8, as well as in locations throughout the amphitheater, on campus maps and directional signage.
The naming rights agreement was brokered by Premier Partnerships. It is the first time the Open Air Theatre has had a naming rights sponsor.
California Coast helps collect school supplies for nearly 4,000 homeless children
San Diego, CA, August 23, 2013
SAN DIEGO - Nearly 4,000 school-aged homeless children in San Diego County are now able to start their academic year with much-needed school supplies, thanks in part to a five-week donation campaign led by the San Diego County Office of Education (SDCOE) and supported by California Coast Credit Union. Through SDCOE grant funds and community donations, a total of 3,975 backpacks filled with supplies were distributed to 35 school districts, according to the SDCOE.
"This is a good example of how the San Diego community comes together to make a difference in local children's lives," said Rene McKee, VP of Marketing & Community Relations. "New backpacks and supplies will help these children get their school year off on the right foot. We're looking forward to joining San Diego in other ways to make a difference in these kids' lives."
The SDCOE partnered with government agencies and local businesses, including California Coast Credit Union, on the annual Drive for Success campaign to collect donated supplies from July 1 through August 9, 2013. California Coast branches served as donation drop-off locations for the campaign, along with the SDCOE main campus.
California Coast Credit Union Awards High School Scholarships
San Diego, CA, July 9, 2013
SAN DIEGO - California Coast Credit Union has announced the recipients of the James L. McPheters - California Coast Credit Union High School Scholarship Program that recognizes outstanding high school students for their dedication to academic excellence. The five scholarship recipients are Andreea Dinescu of Santee High School, Amy Morrison of Patrick Henry High School, Dana Christensen of Clairemont High School, Evan Sudan of St. Augustine High School and Nicholas Prunty of Cathedral Catholic High School. Each graduate received a scholarship of $1,500. The scholarships were based on academic achievements, school activities, community service and an original essay.
The scholarship was named for James L. McPheters who retired after 21 years as California Coast's President/CEO. California Coast Credit Union was originally started by local teachers and has been serving members for over 80 years
California Coast Credit Union Achieves Goal for Rady Children's Hospital
San Diego, CA, July 9, 2013
SAN DIEGO - As a result of generous member donations and a matching program through the CO-OP® ATM Network, California Coast Credit Union raised over $20,000 for Rady Children's Hospital in a recent fundraising campaign. The credit union has participated in the Credit Union for Kids' Miracle Month of May fundraiser for over 10 years. The campaign is promoted each year throughout California Coast's 22-branch network in San Diego and Riverside counties.
"As part of California Coast's community outreach, we are so pleased to support and partner with Rady Children's Hospital. We appreciate all they do to provide the best pediatric healthcare to all children in the San Diego area," said Rene McKee, Vice President of Marketing and Community Relations.
The credit union will be recognized for its support at the 2013 Miracle Makers Celebration event in August.
California Coast Credit Union to serve as title sponsor for SDSU - Wyoming men's hoops match up Feb. 19
San Diego, CA, Feb 11, 2013
San Diego State Athletics and its multimedia rights partner, Aztec Sports Properties, announced today that California Coast Credit Union will actively support Aztec Men's Basketball for the next two years.
Highlighting its involvement with the Aztecs will be title sponsorship of the men’s basketball game against Wyoming on Tuesday, Feb. 19 at 7 p.m., where fans will have the opportunity to be involved with several promotions. California Coast will have extensive visibility at the game, including a presence outside the main gate (at DOOR1) where SDSU fans can enter-to-win a $200 Ticketmaster gift card. Fans attending the game will receive a $50 coupon that can be redeemed for cash when they open a California Coast Credit Union account.
Benefits of California Coast's two-year SDSU Athletics' partnership also entails courtside rotational signage at Viejas Arena; Website advertising on the official athletics' site GoAztecs.com; and exposure through radio game broadcasts.
"We're proud to support the SDSU Aztec Basketball program and serve the students, faculty and alumni of the university," said Rene McKee, California Coast Credit Union's vice president of marketing and community relations.
California Coast Credit Union to Team Up with Home Start On "Quarters Count" Campaign
San Diego, CA, January 2, 2013
California Coast Credit Union is partnering with Home Start in launching its second annual "Quarters Count" fund raising campaign. The campaign will run from January 19 - February 16. Donations can be made at any of the California Coast Credit Union branches in the San Diego area.
Home Start is a community - based organization that reaches out to at-risk children and families to help prevent child abuse and neglect. The concept of the campaign is that if every person in San Diego County donated just one quarter, Home Start would raise 1 million dollars to fund needed services and programs.
"As a part of California Coast's community outreach, we are pleased to support this worthy cause and help Home Start continue to serve over 39,000 San Diegans. We encourage everyone to donate and see just how much a quarter or more can make a difference in a child's life," said Rene McKee, Vice President of Marketing and Community Relations.
California Coast Credit Union Conducts School Supply Drive
San Diego, CA, July 5, 2012
California Coast Credit Union is partnering with the San Diego Office of Education for the 2012 Drive for Success campaign from July 2 to August 3. Donations of classroom supplies can be made at all California Coast branches located in San Diego. The donated supplies will go directly to homeless students across San Diego County, not just to one particular school or school district or agency. The goal of the Drive for Success campaign is to ensure that many homeless students who have limited financial resources will get the necessary school supplies at the beginning of the school year to help them have a successful academic year. A complete list of requested school supplies is available at California Coast branches.
No Coasting In California: Merger Has Helped Drive Growth
San Diego, CA, June 18, 2012
By Michael Bartlett
SAN DIEGO - Marla Shepard saw the future back in 2008, when, fittingly, she was president and CEO of the then $944-million First Future Credit Union-the need to bulk up to better compete with the big banks.
In April of 2008, shortly after First Future CU and then $907-million California Coast CU announced they were merging, Shepard told Credit Union Journal that at the "last three or four board planning meetings we talked about merging and the need to be bigger. To be competitive in San Diego, a very competitive market, we needed economies of scale to make a difference. For the health of my credit union and my members, a large merger is necessary."
Today, Shepard is president and CEO of $1.7-billion California Coast CU, the surviving name when the two credit unions combined. The struggle to make headway in this hotly contested market remains just as fierce, and she is not looking to back down from the fight.
"Competition is a good thing because it creates value for consumers," she said. "It is important for any financial institution to differentiate itself. We differentiate by having a message of being unique and different. I think the credit unions in San Diego have done a pretty good job of differentiating for the most part."
Ads 'Very Creative'
California Coast has a community charter, and Shepard said after the merger it became even more important to create a brand. To that end, in 2011 it implemented a rebranding effort that included "very creative" television spots that told the story of being a member not a customer, a person not a number, and carried the slogan, "In your best interests."
"Any financial institution in San Diego must be flexible, innovative and very quick to market with new products and services," Shepard said. "TV and radio are expensive, so we have products tied to the branding to try to get business from our advertising right away. The challenge is good, because it makes our credit union flexible and innovative. We need to do these things to be competitive in this market."
Cal Coast's management team holds weekly meetings that include a review of its competitors' rates, setting its rates for deposits and loans, and discussing new products and services that are coming to market. Shepard said it is a "very proactive" process.
According to Shepard, "Other credit unions are definitely our competitors. Credit unions, banks and even car dealerships are all trying to get the same business. It adds another element, but it does not change what we are doing."
Despite all that competition, there is a "fair amount" of collaboration among San Diego credit unions, Shepard continued. While "some credit unions are better at collaborating than others," she said political activism is the best example of successful collaboration.
"There is a California State PAC, and there is good representation on the PAC committee by San Diego credit unions both big and small. On legislative and political issues we work together."
In addition, there was a recent benefits survey that involved collaboration by several different credit unions, Shepard pointed out.
"There are lots of things we can talk about and share, just not products and services," she said. "We definitely talk about regulations and how credit unions are responding. North Island is talking about forming a business lending CUSO in San Diego. We are interested in joining the CUSO, although we are not sure if it will be limited to San Diego or would include all of Southern California."
There was "some talk" years ago about advertising a collective credit union brand in San Diego, but Shepard said it would not make sense now. In her opinion the credit unions here are differentiated already.
"In San Diego consumers are more aware of CUs than they are in many cities due to all the commercials that are on television," she observed.
California Coast has 22 total branches, counting four in San Bernardino County, and 230 employees. Shepard said after the merger with First Future there was an evaluation of all of the branches, and those with significant overlap were closed.
"Overall, we are happy with our current locations," she said. "All branches have a focus on getting new business. The top two priorities for this year are new member growth and loan growth. So all the branches are involved in trying to get both goals."
Cal Coast has had a "pretty robust" sales program in place for years, Shepard said. For starters, there is an automatic discussion of checking accounts when on boarding new members.
"Our employees know it is important to cross-sell products to new members," she said. "Bank Transfer Day did not change that. It brought in more members to sell to, which is a great opportunity."
Bank Transfer Day-Nov. 5, 2011-was California Coast CU's highest new member growth day of the year, with more than 1,200 new members joining during November. Since then, Shepard said, the number of new members has continued to be at "elevated levels." New member growth in 2011 was up 57% over 2010.
Of the new members, 24% have taken out loans. Shepard said the three most common loan types have been auto, Visa, and real estate.
"Loan production is higher in 2011 than it was in 2010, though on a net basis there is a slight decline in loan balances as people are paying off their Visa cards," she said.
Another important figure related to new members: 80% have opened checking accounts. "This is logical because bank fees were on checking accounts, so that is why people came to us," Shepard said.
Retirement and financial planning also are available, and Shepard said if appropriate those products and services are brought up during on boarding.
In 2011 California Coast CU reported $9.3 million in net income prior to assessments. It paid $3.5 million to the Corporate Stabilization Fund, leaving it with net income of $5.7 million. Its net worth ratio was 9.7% ("well capitalized").
In 2010 it booked $7.8 million in net income, even after paying $3.7 million in assessments. Its net worth ratio was 9.45% ("well capitalized"). In 2009 it had $3.3 million in net income, with a net worth ratio of 7.94% ("well capitalized").
In 2008 it lost $50 million, although its net worth ratio remained well capitalized at 7.31%.
"In 2012 our momentum continues," Shepard said. "We had an excellent first quarter for new members and loans-both were ahead of projections. Across the board lending is up, topped by phenomenal interest in mortgage products. We are funding a lot of mortgages each month, keeping some of those while selling 60% on the secondary market."
With low interest rates available, it is affordable for Cal Coast's members to refinance, she noted, adding roughly 85% of its mortgages are refis.
The local real estate market is improving a "little bit" every month, Shepard said. The CU is seeing an improvement in auto lending as well, but that also is mostly refinances.
"The dealers for the most part own new car loans," she said.
The main factor holding back loan growth: consumers are trying to rid themselves of debt. In an effort to counter this trend, Cal Coast reviews its members' credit reports and sends them pre-approved offers to transfer their loans to the CU. It also looks in its records to see which car loans will be paid off soon and gives the members a pre-approval for their next car purchase.
Cal Coast currently is testing a "new" product that it offered years ago. Shepard said it has created a draft that allows the member to write it out similar to a check. "We are hoping that it will be convenient enough that it will give us a fighting chance at the dealership."
The Cal Coast-First Future merger was finalized in July 2008, which happened to be the same year as the economic meltdown. Shepard said it reduced its expenses by 20% during the recession. The merger meant excess branches, so it closed five overlapping branches. Although it had no layoffs during the recession, over a three-year period it reduced staffing by 100 positions through attrition.
"We became very expense aware,” she recalled. “We negotiated tougher than normally with our vendors. We looked for every expense that was not necessary and cut it. We had a major focus on efficiency after the merger. Building capital also was a major focus during that time. We raised a few member fees, but not many. Mostly we tried to generate income through efficiency."
As the economy slowly emerges from the doldrums, Shepard said given that there continues to be low loan demand, Cal Coast, like most, is not interested in deposits.“"2012 is looking good," she said. "Loan growth is up, as is membership. Earnings are up, and income is definitely up. Fewer members are stressed, so we are not seeing the number of loan modifications. Requests for modifications slowed down in 2011 and have been much better in 2012."
California Coast Credit Union to Partner with SDSU Aztec Basketball
San Diego, CA, September 5, 2012
California Coast Credit Union is pleased to announce a partnership with the SDSU Aztec Basketball program as a game sponsor. In addition to the sponsorship, California Coast is offering a "Road to Boise" sweepstakes to attend the SDSU vs. Boise State football camp on November 3 in Boise, Idaho.
The sweepstakes include round-trip airfare from San Diego to Boise, reserved seat, game tickets, hotel accommodations at The Riverside, the SDSU team hotel and a $300 Visa gift card.
"We're excited to support the SDSU Aztec Basketball program, and serve the students, faculty and alumni of the university," said Rene McKee, Vice President of Marketing and Community Relations at California Coast Credit Union.
California Coast Credit Union to team up with Philip Rivers Football Camp for kids
San Diego, CA, May 15, 2012
California Coast Credit Union will continue as a major sponsor of the Old Spice Philip Rivers Football Camp with all camp proceeds benefiting orphaned and foster children. The camp will be held June 23 and 24 from 9 am to 12:30 pm at the University of California San Diego NCRA Fields.
Campers will learn fundamental skills of football and experience instruction from San Diego Chargers Pro Bowl quarterback Philip Rivers and a selection of top prep and collegiate coaches from the San Diego area.
Over 300 children ages 7-14 attended the 2011 camp. According to Brandon Tully, age 8, who attended last year, a high point of the camp was catching a pass from Philip Rivers. Brandon also remembered some of the messages Philip shared with the campers.
"I learned that you need to work hard at both school and on the field. And that anything you decide to do, you will need to put 100% into it in order to succeed," he said.
California Coast is offering a $20 discount on the registration fee to those who register at calcoastcu.org. In addition, individuals can enter to win one of six complimentary football camp packages through the California Coast Facebook page. The entry deadline is June 6, 2012, and winners will be selected and announced June 8, 2012.
"We are pleased to continue our partnership with Philip Rivers and the Rivers of Hope Foundation. The football camp is a unique opportunity for children to participate in a sport they enjoy and also understand how sportsmanship applies to many areas of life," said Marla Shepard, California Coast’s president and CEO.
Susan Whiteley Named IT Executive of the Year
San Diego, CA, May 14, 2012
California Coast Credit Union is pleased to announce Susan Whiteley, has been named IT Executive of the Year in the business nonprofit category of the 5th Annual Information Technology Executive of the Year Awards conducted by the San Diego Business Journal. The awards recognize exceptional information technology leaders in San Diego.
"Susan’s breadth of knowledge and experience in the IT area was instrumental in the highly successful merger of California Coast Credit Union and First Future Credit Union in 2008 into a $1.8 billion financial institution. The result was praised by Symitar, our system vendor, as the largest, fastest and best core system conversion they had accomplished," said Kevin Landel, senior vice president of Information Services.
Whiteley, as vice president of Information Technology, is currently leading a multi-year project providing data warehouse and business intelligence tools to facilitate strategic decision making and operational process based on enterprise-wide priorities. The enhanced decision making, risk - analysis capabilities and regulatory report for loan administration has allowed the credit union to expand lending capabilities to further help members during this difficult economic downturn.
"Susan is very active in the credit union’s business continuity program, which has been enhanced over the last two years. This has proved invaluable during the recent region-wide power outages experienced in San Diego," added Landel.
In addition to her professional achievements, Whiteley is an advocate of life-long learning and supports educational efforts throughout the community.
Credit Union Tailors Financial Education to Community Needs
San Diego, CA, April 16, 2012
Although California Coast Credit Union has a long history of providing financial education to the communities it serves, the downturn in the economy was instrumental in developing a series of new consumer-focused workshops. As credit union staff interacted with members and the community at large, it became evident that there was a need to provide education on topics such as how to develop a plan to build savings, options to reduce the cost of current loans and steps to take to improve your credit rating.
"We believe it is important that the credit union is a resource to help individuals learn how to do a better job of managing their funds, particularly through a difficult time. In doing so, we hope to help put them on the path to reach their future financial goals," said Marla Shepard, president/CEO of California Coast Credit Union.
The financial workshops also offer an opportunity to educate individuals about credit unions and the not-for-profit financial services they offer. California Coast works closely with area high schools and colleges in conducting financial literacy presentations. "We see our financial literacy classes as an important tool in educating youth and young adults that there is a "money-saving" difference between credit unions and banks," Shepard commented.
In addition to the financial workshops, the credit union also offers Financial Fitness, a free service designed to help members maximize their paycheck and create a spending plan that they can live with.
"We've found that our financial workshops and Financial Fitness service are effective ways we can demonstrate that the credit union philosophy of "people helping people" is a guideline for all we do each day at California Coast," added Shepard.
Credit Union Names Chief Lending Officer
San Diego, CA, April 13, 2012
California Coast Credit Union is pleased to announce Robert Disotell has joined the credit union as Chief Lending Officer. Disotell has over 35 years in the financial services industry. Previously with Opus Bank in Everett, Washington, he was instrumental in the transition from a thrift institution that originated only mortgage loans to a commercial bank offering a wide selection of business and consumer products.
"Robert's wide range of experience is a valued asset to our management team. He will be responsible for all areas of lending, enhancing the credit union’s risk management practices and policies as well as working closely with regulatory agencies," said Marla Shepard, president and CEO of California Coast.
Disotell is a native of the state of Washington and has a Bachelor of Arts in Communication from Washington State University. "With my youngest son already working in San Diego and two daughters in Los Angeles, this move works out really well for re-uniting our family," Disotell commented.
Credit Union's Mobile Banking Gaining Rapid Traction
San Diego, CA, March 2, 2012
Less than six months after rolling out its new mobile banking service, California Coast Credit Union already has over 11,000 members managing their personal finances via text banking, web-enabled smart phones and mobile devices.
Nearly 10% of the credit union's membership has already downloaded the free mobile banking app, according to Kevin Landel, senior vice president of information services.
"Our members are rapidly adopting this new technology because it clearly provides much greater freedom and convenience," Landel said. "The credit union took great care in selecting one of the industry's most versatile and secure mobile banking apps for our members."
While there are numerous mobile banking apps currently in use, their features and capabilities can vary significantly. In addition to standard features, such as the ability to check account balances, view transaction histories and transfer funds between accounts, the new banking app available to California Coast members offers a few extra perks.
Additional Cal Coast Mobile features include the ability to pay bills online, graphically track and display spending habits, locate a branch or the nearest of over 28,000 surcharge-free ATMs and access the credit union's website to view current loan rates and special promotions.
Tracy Fournier, California Coast's senior online marketer, commented that "even though mobile banking was marketed through various channels, the major growth came from marketing in our online banking channel and through multiple email campaigns." As an example, the initial email communication generated an impressive 96.3% increase in adoption.
"Smart phones, tablets and other mobile devices are quickly gaining ground on personal computers as the preferred path to accessing the Internet," Landel added. "We're committed to continuing to provide our members with easy access to financial services that make their lives easier."
Credit Union Has Strong Year-End Results
San Diego, CA, February 27, 2012
As San Diego's oldest local financial institution, California Coast Credit Union understands the impact a struggling economy can have on their members and the credit union's financial goals. Marla Shepard, president and CEO, summed up 2011 as "a year filled with both challenges and accomplishments."
The achievements included reducing charge-offs, increasing loan volume and capital to 9.91% of assets as of December 31, 2011. The credit union also had a 57% increase in new members over the previous year. Equally important, the credit union realized $5.8 million in earnings. Challenges came by way of reduced loan demand coupled with ongoing high unemployment, which are anticipated to continue in 2012.
In addition to positive financial results, California Coast's members rated the credit union's service as exceptionally high. "We are very pleased that our members are highly satisfied with our service and that we are demonstrating to them that we value their business," added Shepard.
As for 2012, California Coast is continuing to focus on growth, enhancing service and increasing reserves. "In all our plans for this year, we have recognized the importance of maintaining our financial strength so our members have the peace of mind they deserve. Our business is driven by meeting our members' needs and in the process we are hopeful our efforts are helping them achieve their financial goals," said Shepard.
Bank Transfer Movement Results in Steady Gain for Credit Union
San Diego, CA, February 27, 2012
While Bank Transfer Day in November became a turning point for many individuals to move their funds from banks to other financial institutions such as credit unions, the movement seems far from over.
"We are continuing to gain new members who are closing accounts elsewhere and looking for a place where their business is truly valued," said Marla Shepard, president and CEO, of California Coast Credit Union.
A typical example is the experience of Julia Miller, who recently switched all her bank accounts to California Coast Credit Union. Although she had been with a bank since college, her auto loan was with California Coast. While her interactions with the credit union were limited, she described them as consistently pleasant and helpful.
"It was the contrast in how my business was valued and the quality of service that made my decision easy. My bank transactions had become an ordeal," Miller shared.
In 2011, California Coast had a 57% increase in new members over the previous year. The continued momentum has also indicated that individuals are gaining an understanding of the financial options available and getting referrals from friends and family members who are using a credit union.
Continuing to grow and providing exceptional service will remain one of the top priorities for California Coast. "We know that our members are the only reason we exist and earning their business and trust is paramount to us," said Shepard.
Matz Encourages Credit Union Participation in America Saves and Military Saves Weeks
San Diego, CA, February 16, 2012
On the eve of final preparations for America Saves Week and Military Saves Week, National Credit Union Administration (NCUA) Board Chairman Debbie Matz today encouraged credit unions to step up and reach out to their members to encourage them to increase savings, especially by promoting automatic savings options. The nationwide, week-long series of events begins Sunday, Feb. 19, 2012.
"Savings at our nation's 7,179 federally insured credit unions jumped by $32.8 billion during the first nine months of 2011" said Chairman Matz. "As we begin 2012, America Saves Week and Military Saves Week are new opportunities for all credit unions to kick-start their savings promotions and financial education programs. By promoting automatic savings, credit unions can help their members buy homes, purchase cars, go to college, enjoy secure retirements, and set money aside for emergencies."
America Saves Week and Military Saves Week are national campaigns that unite government, nonprofit, and corporate groups to encourage individuals and families to save and build personal wealth. America Saves and the America Savings Education Council coordinate America Saves Week, and the U.S. Department of Defense and Consumer Federation of America cosponsor Military Saves Week, which is part of the Defense Department’s financial readiness efforts and the national America Saves campaign.
This year's campaign theme - "Set Goals, Make a Plan, Save Automatically" - promotes the need for families to get aggressive with automatic savings. Credit unions that have already committed to participate in Military Saves Week and America Saves Week are offering assistance with automatic deposits, advance planning for purchasing and investing, and incentivized savings products, such as no-fee savings accounts with low opening balances.
America Saves encourages saving, debt reduction, and wealth building. Credit unions can partner with local America Saves campaigns to offer motivational workshops and obtain posters, brochures, and other resources.
A parallel initiative, Military Saves, represents an opportunity for Active Duty, National Guard, and Reserve leadership at all levels to educate, motivate, and encourage service members and their families to save. During the last five years, more than 100,000 military members and their families have taken the "saver pledge" to save money, reduce debt, and build wealth over time.
"Public-private initiatives like Military Saves and America Saves support the development of financial readiness habits that can lead to strong financial futures," concluded Matz. "I encourage credit unions to support these initiatives, not just this week but throughout the year as a way to provide consumers with practical and sensible tools to improve their financial security."
For more information on how to participate, credit unions can go to www.MilitarySaves.org or www.AmericaSaves.org. For additional information about saving, borrowing and managing credit, customers can visit www.MyCreditUnion.gov.
Credit Union Teams Up to Support Pet Adoptions
San Diego, CA, February 13, 2012
While animals and banking are not a combination you would naturally think of, many California Coast members are passionate about the animals in their lives. As a result, California Coast Credit Union is pleased to announce its partnership with the San Diego Humane Society and SPCA in recognition of their animal-loving members and to help raise awareness of the Society's programs including pet adoptions.
"We are pleased to support the San Diego Humane Society and SPCA's efforts in providing services to animals and pet lovers in our community," said Rene McKee, vice president of marketing and community relations for California Coast Credit Union.
A recent example is the adoption of Bolt, a lovable German shepherd who had been at the Humane Society for over a year. Bolt's story was featured on the San Diego Humane Society and California Coast websites. After following Bolt online and some meet and greets to get better acquainted, a San Diego family was convinced that Bolt was the dog for them.
According to Bolt's new family, "Bolt has been great with the kids and their friends. One of his favorite tasks is waking up the children with doggy kisses. He's very excited to do that and they love it!"
Mobile adoptions are also instrumental in finding a loving home for the animals. Recently, California Coast hosted mobile pet adoption events at the credit union's Santee, La Mesa and El Cajon branches and future events are planned.
"Our adoption counselors can help in deciding if the animal you are interested in is a good match for your lifestyle and can direct you to any pets that may be appropriate. It's a process that has been very successful for everyone involved," says Michael Baehr, senior director of marketing and communications for the San Diego Humane Society. "We are very excited about our partnership with California Coast Credit Union."
For details and more information on pet adoptions, call 619-299-7012 or go to sdhumane.org.
California Coast Credit Union to Award Scholarships
San Diego, CA, February 10, 2012
California Coast Credit Union has announced that it will award five scholarships to college-bound high school seniors in the San Diego County and Riverside County area.
The James L. McPheters - California Coast High School Scholarship Program recognizes students' academic excellence, school activities and community involvement. Scholarships will be awarded to five college-bound students in the amount of $1,000 each.
To be eligible for the scholarships, an applicant or their parent, grandparent or guardian must be a member of California Coast Credit Union, in good standing, by the application deadline. Students need to have a cumulative high school GPA of at least 3.0 on a 4.0 scale and be accepted by or plan to attend an accredited college or university on a full-time basis. Scholarship recipients need to reside in San Diego or Riverside County. A completed application must be postmarked no later than March 31, 2012.
"For over 80 years, California Coast Credit Union has been an avid supporter of students, teachers, and the educational community," said Rene McKee, vice president of marketing and community relations of California Coast Credit Union. "Our scholarship program is one of the ways we're able to give back to our community and recognize outstanding students' academic accomplishments and commitment to community involvement."
Details and scholarship applications are available at www.calcoastcu.org. Applications are also available by calling (877) 495-1600 or visiting any of the 20 California Coast Credit Union branch offices.
About California Coast Credit Union
Established in 1929, California Coast Credit Union is San Diego's oldest credit union with over 122,000 members and with over $1.8 billion in assets. Its large network of over 20 branch offices and nearly 60 credit union service centers make it more convenient than any other local credit unions and most banks. In addition, California Coast is a member of the surcharge-fee CO-OP ATM network with over 600 in San Diego and Southern Riverside County and over 28,000 ATM's nationwide. For more information, please visit California Coast Credit Union at www.calcostcu.org.
About San Diego State University
San Diego State University is a major public research institution offering bachelor's degrees in 89 areas, master's degrees in 78 areas and doctorates in 21 areas. The university provides transformative experiences, both inside and outside of the classroom, for its 34,000 students. Students participate in research, international experiences, sustainability and entrepreneurship initiatives, and a broad range of student life and leadership opportunities. The university's rich campus life features opportunities for students to participate in, and engage with, the creative and performing arts, a Division I athletics program and the vibrant cultural life of the San Diego region. For more information, visit www.sdsu.edu.
About Premier Partnerships
Premier Partnerships is a nationally recognized naming rights, sponsorship, and valuation firm specializing in the development and execution of customized commercial sales strategies for top tier facilities, sports and entertainment destinations, league and team properties, and municipal projects. With offices in Los Angeles and New York, Premier has been recognized as Sports Business Journal's Best in Property Consulting, Sales and Client Services. Premier executives have created thousands of mutually beneficial business partnerships, including successful naming rights agreements at Dolby Theatre, Moda Center, TCL Chinese Theatre, O.Co Coliseum, Bridgestone Arena, Viejas Arena, FC Dallas Stadium (formerly Pizza Hut Park), Apogee Stadium, and PPL Park. Additional information is available at www.PremierPartnerships.com.