BECU and CapEd Credit Union Recognized with National CUNA Awards
November 19, 2019
11/19/2019BECU returned $312 million to its members thanks to its Loan Reprice Program.
The Credit Union Movement spotlight is shining brightly on two Northwest credit unions, which are being honored with national CUNA awards for their service to members.
Tukwila, Washington-based BECU has won a first-place national Louise Herring Philosophy-in-Action Award, and an Alphonse Desjardins Adult Financial Education Honorable Mention.
CapEd Credit Union in Meridian, Idaho, has been recognized with a Dora Maxwell Social Responsibility Honorable Mention.
CUNA announced the awards last week. Both credit unions will receive their honors during the CUNA GAC in February. They received regional CUNA awards during the Northwest Credit Union Association’s recent MAXX Convention in Spokane.
Putting Money Back in Members’ Pockets
BECU received the Louise Herring honor for its innovative loan “Reprice” program, which returned $312 million to its members last year. The program lowered the interest rate on 49,000 loans for members who practiced positive financial behavior.
“It is a great honor to be recognized by CUNA for our loan reprice program and it validates our work to reward our members for good financial habits in innovative ways,” said Doug Marshall, BECU’s Chief Digital and Product Officer. “Our goal is to support the financial wellbeing of our members and communities, and this program is one of the best examples of how BECU brings that commitment to life.”
The “Financial Health Check” program earned BECU the Desjardins Adult Financial Education Honorable Mention. More than 1,000 BECU members leveraged free, personalized telephone meetings with trained specialists who guided them to make better savings, budgeting, and debt-management decisions. Financial Health Check was offered in partnership between BECU’s Financial Education Department, the credit union’s Contact Center, and ideas42, a behavioral economics research non-profit.
Taking Reading to a Higher Level
CapEd’s national honor recognizes its “Read to Rise” program, which encourages elementary school students to read.
The program is tethered to a sponsorship of a hot air balloon in Boise’s tremendously popular “Spirit of Boise Balloon Classic.” The school whose students spend the most time reading over the summer, get a special visit. The CapEd balloon and its mascot, Ed Word the Book Worm™ have become celebrities in the Boise area, and since the “liftoff” of Read to Rise in 2017, there has been a dramatic 850% increase in the number of schools actively participating. About 500 students spent 310,000 minutes reading during the summers of 2017 and 2018, a learning experience for them as they competed for the opportunity for the CapEd balloon and Ed Word the Book Worm to visit their school.
“We are honored to have CapEd’s “Read to Rise” youth reading program, our early learning ambassador, “Ed Word the BookwormTM”, and sponsorship of the “Spirit of Boise Balloon Classic” recognized by CUNA through the Dora Maxwell award,” said Todd Christensen, Senior Vice President of Marketing and Business Development. “We are excited to have the dedicated work of our staff and community partners to encourage early learning through daily reading highlighted. These programs exemplify CapEd Credit Union’s commitment to promoting quality education and community enrichment as Idaho’s oldest, continuously operating federal credit union.”
Editor’s note: Anthem will be on Thanksgiving break next week and will return on Dec. 3. Look for a story about this year’s NWCUA Dora Maxwell award winners on Dec. 3.
Posted in Awards.