WASHINGTON-The one-day “Shop for Miracles” fundraiser for Credit Unions for Kids (CU4Kids) raised more than $450,000 this year, the first time the fundraising strategy has been used, according to Children’s Miracle Network, which conducted the event in coordination with CUNA, the World Council of Credit Unions and CO-OP Financial Services.
The effort took place on Oct. 16, International Credit Union Day, and involved credit unions that pledged to donate 25 cents to their local Children’s Miracle Network (CMN) Hospital each time members used their credit union issued credit and/or debit card on that one day.
“We far exceeded our expectations for the inaugural year of this program at a national level — we had over 100 credit unions from 33 states participate,” said Joe Dearborn, senior director of CU4Kids with Children’s Miracle Network Hospitals. “We are beyond grateful for the support of our credit unions as well as for the generosity of CO-OP Financial Services.”
Included in the $450,000 projection is over $100,000 from CO-OP’s Miracle Match program, which provides matching dollars for approved credit union applicants.
Among those CUs that saw volume increases on Oct. 16 was Desert Schools FCU, which promoted the special fundraising day and reported a 33% increase in transactions.
Children’s Miracle Network reported that only 14% of credit unions that promoted the fundraiser to their members said they did not see an increase in transaction volume.
Other news from the fundraising project:
- “Shop for Miracles” involved credit unions both large and small. Florida Customs Federal Credit Union (Fla.), a small credit union with approximately 125 debit cards issued, does not issue credit cards. “Florida Custom FCU chose to donate $1.00 per debit card transaction, and we raised $50 through Shop for Miracles,” said CEO Leianne E. Harden.
- With a $60,000 donation, SchoolsFirst Federal Credit Union (Calif.) made the largest contribution through Shop for Miracles, donating almost $0.10 per member. “We also received a CO-OP Miracle Match for $12,000 bringing our total for this single event to $72,000 for the kids,” said SchoolsFirst CEO Bill Cheney.
- Redwood Credit Union, which participated in a pilot test of Shop for Miracles in 2013, returned this year and enjoyed even greater success. “Shop for Miracles is the primary focus of our International Credit Union Day efforts, and we’ve heavily promoted the program through our website, newsletter, email, print ads, branch displays and social media platforms,” said Brett Martinez, president and CEO. “For the second year in a row, our actual card transactions exceeded projections by 38%.”
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