CANTON, N.C. (2/11/16)--While members were benefiting from efforts to increase loan rate savings, Champion CU was setting up support for public schools in western North Carolina.
In 2015, the Canton, N.C.-based credit union ran a “Schooled on Savings” campaign, which was designed to show members how borrowing with their credit union could help them save and help their community.
Champion CU set out to save members at least $100,000 in loan interest through refinancing, and it tracked the amount of money that was saved in loan interest for each loan. “We were saving our members thousands of dollars sometimes,” said Brooke Scott, financial service specialist.
Once that goal was met, Champion CU took that $100,000 in savings and give it directly back to its community--in this case, the public school systems in nine western North Carolina counties.
President/CEO Jake Robinson suggested the school systems. “The schools are struggling with the support given on a state and federal level,” he said. “While we can’t fix it with this, we certainly want to try and do what we can.”
On Feb. 25, Champion CU will distribute funds to superintendents and school personnel from the nine counties.