ST. LOUIS (12/30/14)--When looking back over the year-that-was in 2014, the Missouri Credit Union Association (MCUA) can point to a number of successes it's earned in a variety of efforts, including both in the legislative and credit union awareness realms.
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In the winter edition of MCUA's "Your Membership At Work" publication, the league discusses the many ways it went to battle for credit unions in the state on regulatory issues.
No issue may have received more attention than that of the patent troll bill the MCUA supported through the legislative process.
"Credit unions in Missouri are now protected from patent troll abuse, thanks to an MCUA-supported bill that passed the Missouri General Assembly in 2014," the league said. "SB 706, sponsored by Sen. Mike Cunningham (R-Rogersville), sets clear criteria to help distinguish legitimate from illegitimate patent infringement assertions and provides restitution for businesses affected by patent trolling."
In addition to the patent troll bill, MCUA helped pass a number of credit union-backed bills, including a consumer protection bill that bans public employee pension transfers; a bill that protects a credit union's lien priority over a condominium association's special assessment; a credit union exemption from an overly burdensome credit card processing service contract bill; and a bill that allows credit unions to release a lien on a motor vehicle or trailer electronically.
The MCUA also had success opposing a number of bills that would have hampered credit unions in the state had they been approved.
"A good defense is sometimes the best offense," the league said.
MCUA's Bank on More campaign, created to drum up credit union awareness in Missouri, also had itself a successful 2014.
On the backs of a robust media buy and continued community outreach events, MCUA drove more than 60,000 consumers to visit www.bankonmore.com where they could find a credit union to join--roughly an 11,000-visit improvement over last year.
Bank on More also supported individual credit union marketing efforts by supplying branded items and displays for credit unions to use.
The media buy included radio and Pandora spots, digital and TV advertisements and a wide-ranging social media campaign. Several of these efforts also won the league a number of communicator awards within the Credit Union National Association's Blockbuster Awards this year.
MCUA's most influential campaign during the year may have been its Bank on More Live Larger SUV Sweepstakes, where the league gave away a new car to a new member of a credit union.
More than 1,500 consumers entered the sweepstakes by visiting 70 credit union branches throughout the state. The effort led to numerous new credit union members and 10,000 visits to the Bank on More website (News Now Oct. 23).