Common Wealth Credit Union

Common Wealth Credit Union

July 10, 2008 09:00 ET

Common Wealth Credit Union Wins Prestigious Awards for Young & Free Initiative

Young & Free Receives Unprecedented Industry Recognition with Twelve Awards

CALGARY, ALBERTA--(Marketwire - July 10, 2008) - Common Wealth Credit Union (CWCU), Alberta's fourth largest credit union, collected a whopping twelve awards for its innovative social media initiative, Young & Free, launched in fall 2007. Young & Free, the first free financial management service package for young Albertans, engages Generation Y through an interactive website that is populated with blogs, vlogs and polls on everything from finance to pop culture, courtesy of the 19-year-old Young & Free "Spokester", Larissa Walkiw. It is the first initiative of its kind in the finance industry and is being recognized as a leader throughout North America and overseas.

"We are extremely proud to have won these awards and to have our efforts acknowledged in this way," said Jeff Mulligan, president and CEO, Common Wealth Credit Union. "The fact that Young & Free has been this well-received from both young people and industry demonstrates the success of the program."

Throughout May and June 2008, Young & Free was recognized by the Credit Union Executive Society (CUES) Golden Mirror awards, Marketing Association of Credit Unions (MAC) awards and the Canadian Marketing Association of Credit Unions Achievement in Marketing Excellence (AIME) Awards.

Out of 900 entries, Young & Free won three first-place Golden Mirror Awards for image enhancement campaigns over $700 million, segmented campaigns and public relations all assets categories.

The MAC awards recognized Young & Free as Best in Show out of 400 entries, along with presenting three Gold Awards for programs over $500 million category for editorial public relations, websites and market segment program, respectively.

And the credit union marketing awards season finished with five AIME awards; one Gold medal for new product launch and three Silver medals for coordinated campaigns, radio and websites, as well as the People's Choice Award.

The Young & Free website,, attracts an average of 300 hits a day and has resulted in more than 2000 Young & Free accounts with total funds held at more than $2 million to date.

The Young & Free platform is a truly unique program, as it's built for and with young people's input. It's free from any unnecessary service charges, thereby allowing more resources for 17 to 25-year-olds to protect, manage and save their money.

About Common Wealth Credit Union

Common Wealth Credit Union (CWCU), based out of Lloydminster, Alberta, is a $1.6 billion member-owned financial institution serving 53,000 members in 14 communities. Through the introduction of Young & Free, the first financial offering designed for 17 to 25-year-olds, Common Wealth Credit Union involves young people in becoming aware, interested and engaged in the importance of financial responsibility and management. Visit or for more information.

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