10th annual MORE Report: New York CUs continue to have positive impact

ALBANY, NY (04/14/2016)(readMedia)-- For Immediate Release

April 14, 2016

Contact: Ronald McLean, Senior Vice President

(800) 342-9835, ext. 8191 | Ronald.McLean@nycua.org

10th annual MORE Report: New York CUs continue to have positive impact

(Albany, N.Y.) – Each year, the New York Credit Union Association develops a compilation of credit union outreach stories that highlight the positive difference New York credit unions make for their members and communities. Known as the MORE Report, the document is shared with credit unions, legislators, the media and the public statewide.

The 10th annual MORE Report highlights New York credit unions' efforts in seven categories: adult financial education; community investment and outreach; customized products and services; financial counseling; immigrant outreach; Volunteer Income Tax Assistance, or VITA; and youth financial education.

According to the report, in 2015, New York's credit unions provided:

• more than $2.7 million in scholarships to college-bound credit union members;

• financial education lessons to more than 245,000 youths and 175,000 adults;

• 410,000 hours of volunteer community service; and

• $28.2 million in donations to local causes, organizations and schools.

The state's credit unions also helped New Yorkers file 121,000 tax returns and claim $79 million in tax credits and benefits through VITA, a federal program that offers free tax services to qualifying individuals.

"The latest MORE Report is truly a testament to the credit union social mission," said NYCUA President and CEO William J. Mellin. "Credit unions from every corner of New York are represented in this powerful report, which highlights the positive impact the state's not-for-profit financial cooperatives have on their members, their communities and the state as a whole."

To help highlight key statistics from the MORE Report, NYCUA also released a new video, which is available on the association's YouTube channel.

To view the complete report, visit the NYCUA website.

The New York Credit Union Association serves as the trade association for the state's credit unions, which collectively hold more than $72 billion in assets and serve more than 5.2 million members. To learn more about NYCUA, visit www.nycua.org. To find a credit union or learn more about the credit union movement, visit www.asmarterchoice.org.