BANKING/FINANCE : Teachers Credit Union Reaches Out to Young Customers of Future

Financial institutions such as the Orange County Teachers Federal Credit Union are trying to build stronger relationships with a younger group of consumers, hoping to establish a sort of brand loyalty.

The credit union’s support of a computer program for Orange County students was cited recently by American Banker, an industry trade newspaper, as one example of a bridge that financial institutions are trying to build for future banking customers.

Rudy Hanley, the credit union’s president, played down the marketing aspect of its computer program, which is designed to teach statistical and reasoning skills to students from seventh through 12th grades.

“Our more direct motivation is that we are a teachers’ credit union and feel an obligation to contribute to the educational system,” Hanley said. “We really are assisting the educational system, and, yes, indirectly, we will get some benefit by reaching those who may be eligible for (credit union) membership in the future. We have built some relationships.”

It also helps, he acknowledged, to have the credit union’s name in front of the teachers, who are eligible for membership now.

The credit union, one of the nation’s largest with $700 million in assets, spent about $5,000 to install the software program, called LabQuest, at the Orange County Department of Education. The county agency so far has distributed the program to 151 county schools.

The credit union is also sponsoring training sessions over the next two years for teachers and administrators who will be using the program.