By Frank J. Diekmann
It’s over now, but Dupaco Credit Union again hosted its “Sprint to Savings Challenge,” which invites individuals of all financial fitness levels to join a 21-day journey that it said will help participants build stronger saving habits.
The three-week challenge will help participants take control of their finances, build momentum toward their savings goals and have a chance to win cash prizes along the way, the credit union said.
Credit union membership is not required to participate.
The next challenge? Why aren’t more credit unions sprinting to follow? This is an idea that should not be limited to Dubuque, Iowa, it’s a great initiative that should be sprinting nationwide. Why isn’t it?
The credit union trade groups can’t stop talking about advocacy? What greater advocacy could there be for members than to manifest the very reason credit unions were created and exist? Advocate for members and they will advocate for you?
A Ride on the Credit Union Choo-Choo
Railways are one of the great slices of America nostalgia. Although there are few left alive who rode them, many still long for the days of long trips in Pullman cars pulled by steam locomotives, when women always wore skits and men wore fedoras (not sure anyone’s really longing for that any more).
So it was with amental picture of Jimmy Stewart in mind that I read this recently as part of an announcement by the Defense CU Council:
“Railway Credit Union (RCU) has evolved from a small cooperative of Northern Pacific Railway employees in 1954 to a full-service financial institution serving a diverse membership. Over the years, strategic mergers with Soo Line Employees Credit Union, AFL-CIO Credit Union, Mandan Railway Employees Credit Union, Bismarck Telco Federal Credit Union, and Genie-Watt Credit Union have strengthened its reach and financial services.”
That’s a lot of whistle stops.
What Could Possibly Go Wrong?
DoorDash customers can now take out a loan for a $40 order of burritos or a $50 pizza delivery.
Only the Sheriff of Nottingham Was Happy
For a company named for a mythical historical figure known for robbing from the rich to give to the poor, the fintech Robin Hood sure sounds like it prefers to the company of the rich.
It recently announced that its “gold” members (you know, the stuff Robin Hood stole) are being offered “another world of perks,” such as tickets to exclusive events like the Met Gala, Oscars, F1 Monaco Grand Prix, The Masters, and more, as well as private jet travel, global private chauffeurs, luxury helicopter rides, and members-only vacation clubs.
Meanwhile, the CU Daily recently reported on a Bank of America survey found that when it comes to card perks, cash back is the big favorite, followed by what has almost become a second currency, airline miles. Card perks like concerts and special event dinners didn’t rate as highly.
Thank You to the League of Credit Unions
Finally, just a thank you to the League of Credit Unions for having me as a speaker at their recent annual convention. It was great to interact with so many people.
Frank J. Diekmann is Cooperator in Chief at the CU Daily and can be reached at [email protected].