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Invest in America
Wisconsin CU League News Release - 6/28/12

 

Credit unions to discuss competitiveness with Wisconsin Economic Development Corp.

 


Additional resources


 

View the online version of the Scorecard

 

View a PDF of the press release



View press release archive


Media contact

Christine Henzig
Director of Communications
(262) 549-0200, Ext. 6019
chenzig@theleague.coop

 

Pewaukee, WI -  Credit unions have been invited to a July 26 dialog with the Wisconsin Economic Development Corporation (WEDC) that will look at ways to make Wisconsin's financial industry a more competitive and robust sector of the state economy. WEDC is the state's leading economic development entity that was created by Governor Scott Walker's special session on jobs and replaced the Department of Commerce in July 2011.

The dialog will kick off with analyses from state and credit union industry economists. Credit unions will receive an update on the organization’s plans and progress, share insights affecting the financial services industry, and explore the formation of a financial services consortium.

The consortium would ask financial professionals to advise on financial services issues and remain involved in the communication process by which Wisconsin’s schools and universities, skilled labor pool, producers, and customers come together.

"Effectively, it would help keep credit unions plugged into state policymaking as a means of stimulating economic growth," said Brett Thompson, League President & CEO.

The dialog with WEDC will discuss issues that affect credit unions' contribution to the state's economic engine, including but not limited to employee education, training, recruitment and retention.

 

Credit unions are a vital part of the state economy, paying millions in taxes annually while providing financial services through a cooperative structure. This member-ownership returned $201 million to 2.2 million Wisconsin citizens in 2011 via higher interest on savings, lower loan rates and lower or fewer fees. Bank customers saved $66 million in 2011 because of credit union competition. Credit unions employ more than 7,535 full- and part-time staff with an annual payroll of $278.6 million. They spent $581 million locally in 2011.


Credit unions are cooperative financial institutions that are owned by their members and do not have stockholders. Because they are not-for-profit, they return earnings to members in the form of more competitive rates of return on accounts, lower interest on loans, lower fees and improved services. Around 2.2 million Wisconsin residents belong to credit unions, of which nearly half are open to the local community. Find a credit union to join by visiting
www.asmarterchoice.org. The League’s REAL Solutions Scorecard explains how credit unions returned more than $201 million to their members in 2011 and served their communities regardless of profit. It is available at www.theleague.coop/scorecard.

Place your bid through July 17; bring hope around the world

Magnify the positive effects of credit union development efforts around the world—and pick up some fantastic items, including a Wisconsin Entertainment Package valued at $350—by "Bidding for Good" as part of the World Council of Credit Union's silent auction online.

 

The auction, which runs through July 17, features cool items like sports tickets, artwork, electronics, jewelry, one-of-a-kind experiences and unique travel packages. Bidding is open to anyone, so spread the word! All proceeds benefit the Worldwide Foundation for Credit Unions, WOCCU's charitable arm, to support credit union development programs.

 

Pat Wesenberg of Central City CU, Stevens Point, had the opportunity to see one such development program in action when she traveled to Kenya, Africa in 2010 to assist the program's Busia Orphanage project – an effort that will again benefit from the auction.

 

"When we arrived, the facility had no running water. One room housed eight girls but had just one set of bunk beds. The corn meal kept for meals was crawling in bugs and the children ran around barefoot in chicken feces," Pat explains.

"Today, because of many donations, all the children have shoes on their feet, clean beds, and food that's being stored safely. Land has been purchased, plans are drawn, a well is sunk and ground breaking will soon occur on a new orphanage that will use volunteer help from credit unions to build. So every successful bid in the auction is truly changing lives," she says.

 

Register to bid and direct any questions to Valerie Breunig at WOCCU at (608) 395-2055 or auction@woccu.org. Auction items are still being accepted and are much appreciated!

Wisconsin CU League News Release - 7/24/12

 

Credit unions rate high for trust, loyalty, web experience, reputation and more

 


Additional resources


 

View the online version of the Scorecard

 

View a PDF of the press release



View press release archive


Media contact

Christine Henzig
Director of Communications
(262) 549-0200, Ext. 6019
chenzig@theleague.coop

 

Pewaukee, WI -  When asked about satisfaction and trust, consumers continue to rate credit unions extremely well – a sign that, especially during challenging economic times, businesses can succeed when they prioritize their customers' well-being. For example, the member-owned financial institutions:

 

  • Set an all-time American Customer Satisfaction Index (ACSI) record, with 87% of credit union members surveyed saying they are "more satisfied than ever before" with their credit unions. The 87% score was the highest score reached in any of the 47 industries that ASCI surveys.

  • Topped a list of companies with "very strong" loyalty ratings. Credit unions perched solidly at
    No. 5—outranking even Amazon.com—as part of a Temkin Group survey that asked 10,000 U.S. consumers about their loyalty to 206 large companies across 18 industries.

  • Achieved stellar marks for "web experience"—ranking second only to Amazon.com—as part of a Temkin Group survey that examined how 10,000 U.S. consumers rate their online experiences with 159 large companies across 18 industries.

  • Outranked all business sectors in reputation, rating No. 1 in a Prime Performance survey in which 5,000 consumers rated 34 business sectors including grocers, department stores, airlines, tech firms, and others.

  • Led U.S. financial institutions for "customer experience." Credit unions ranked 20 percentage points ahead of the overall bank average in a Prime Performance survey that asked consumers how well their needs were met, whether it was easy to get what they want and how they felt as part of their interaction.

  • Outshone the overall financial industry for consumer trust. A solid 63% of consumers polled as part of the Kellogg Trust Index said they trust doing business with credit unions while only 21% of those polled say they trust the financial system overall.  


Credit unions are cooperatives owned by members, where every depositor's vote is equal to every other's, regardless of how much they have on deposit. This ensures that practices and policies favor members, and that the services members need are available even if they don’t drive the bottom line – an effort credit unions call REAL Solutions®. The effort teaches consumers to save, avoid financial predators, access low-cost loans, improve creditworthiness, and build wealth.

Wisconsin credit unions saved their 2.2 million members more than $200 million in 2011 via lower rates on loans, higher rates on savings and lower and fewer fees compared to for-profit institutions. Learn more at www.theleague.coop/scorecard. Find a credit union you can join at www.aSmarterChoice.org.

Compliance Roundtable offers the latest updates, practical advice


The League's Compliance Roundtable, set for Sept. 27 in Pewaukee, offers unparalleled opportunity to network, exchange ideas and learn the latest regulatory changes.

 

Attendees will receive updates on NCUA's new Troubled Debt Restructuring rule and hear from the Office of Credit Unions about the policies addressing loan workouts and nonaccrual standards for loans.

Paul Guttormsson, Legal Counsel in the League's Legal Affairs Dept., will break down in plain English some of the most complex compliance issues to help you get a game plan to tackle impending deadlines and cover your most important bases.

 

The League Service Corp.'s Compliance Specialist Team – which works on a shared basis with credit unions statewide to assist with compliance obligations – will provide more than a year's worth of practical insights regarding:

  • policies

  • what examiners look for

  • loan organizing

  • reviewing

  • documentation

  • and much more

 

Plus, as part of a facilitated discussion, attendees will talk about where they're at implementing compliance requirements and share best practices with the group. It's the fastest, most practical way to learn what's happening on the compliance front and get answers to the toughest issues your credit union is facing. This interaction alone - that adds to your network of helpful contacts - has made this event one of the League's most well-attended events.

 

Register now to ensure your seat at the table!

 

Please direct questions to Judy Phillips at (262) 408-6020.

 

 

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The League's Compliance Specialist Team will attend the Roundtable to share their wealth of insights. From left to right are: Lynn Schaufenbuel, Kim Hoppe, Stacy Picard, Lisa Alery, and Elyse Smithback.

 

Discover the Bottom Line Benefits of the Investor Education in Your Workplace® Program - Free Webinar

 

Tuesday, August 21, 2012

Webinar - 1:00 - 2:00 pm

 

Click here for additional information and to register!

 

Save the Date!

Compliance Compass: understand lending plans

 

Many credit unions are familiar with multi-featured open-end lending (MFOEL), in which a member may sign one master agreement and then take out various open-end advances for different loan products, like CUNA Mutual Group’s LOANLINER®. In July, The League alerted credit unions to an NCUA Letter to Federal Credit Unions (12-FCU-02) with updated guidance on MFOELs.

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Paul Guttormsson

 

That NCUA letter also very briefly addressed what the NCUA called multi-featured lending (MFL) plans – blended lending plans that use an umbrella loan agreement for a member’s open-end lines of credit and closed-end loans. This was a new concept for most credit unions.

 

It appears that some loan forms suppliers began to develop MFL products as a result of Truth in Lending changes over the past few years. Credit unions should be cautious when considering these MFL program – as with any new lending program – and be sure they understand the federal and state legal issues that might arise and the potential risks they may incur.

 

If your credit union is considered an MFL program, with closed-end lending features, be sure you review The League’s Sept. 13 Compliance Courier, which explains the compliance issues with MFL plans and offers recommendations and alternatives like using traditional closed-end loan forms and perhaps adopting recent technological advances, like digital signatures, for member convenience.

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...because of regulatory concerns

 

 

Part one in a series about the value of League membership

 

One of credit unions’ top concerns is preserving a regulatory environment that protects members without inhibiting credit unions’ ability to deliver services and grow.

 

Your League monitors both state and federal rules and regulations from when they’re first proposed through their implementation, using input from credit unions to shape the specific requirements credit unions must follow under the law. Together we accomplished a lot on the regulatory front in 2012. For example, we:

  • Analyzed thousands of pages of rules and regulations. On your behalf, League staff spent thousands of hours in 2012 monitoring the proposals that federal regulatory agencies were drafting or updating to identify and communicate opportunities for improvement.

  • Sought guidance from the League's Regulatory Advocacy Council. An advisory group representing a cross section of credit union sizes, communities, product offerings and fields of membership provides input and feedback to help communicate the complexities and operational impact of new regulations as part of The League’s comment call responses.  

  • Submitted comment letters on behalf of Wisconsin credit unions. In conjunction with the Regulatory Advocacy Council, we draftd comment letters to federal agencies urging them to lighten credit unions' regulatory burdens, to account for the differences between credit unions and other financial institutions, and to recognize the cost to credit unions and their members whenever there are regulatory changes or new requirements.

  • Coordinated credit union responses to regulatory comment calls. By coordinating and submitting feedback through CapWiz, The League ensures that regulators consider credit union input on the practical aspects of implementing rules and regulations – including risks, costs, human resources and more – before they are finalized.  

  • Forged relationships with agency staff.  League staff and credit union representatives met regularly with regulators and examiners so that – by addressing their concerns and intent – we could better shape our input on regulatory issues.

  • Strengthened our platform for regulatory advocacy. We collaborated with partners like CUNA, CUNA Mutual Group and others to ensure a broad knowledge base from which to affect the regulatory process.  

"It's more necessary than ever that we remain vigilant to minimize credit unions' regulatory burden by working together through The League to provide regulators front-end input. They need our practical insights to help them recognize how hard credit unions are working for their members and how much of a toll increased regulation takes," said Jo Whiting, The League's Executive Vice President/Chief Advocacy Officer.

"Our input has grown in importance as regulators have felt greater pressure to ensure the soundness of financial institutions – but at the same time they have added substantial regulatory burdens that can undermine credit unions’ ability to serve their members. When we speak together, we have a much better opportunity to be heard."


Watch League News for more about what we have accomplished together in 2012 as a united League.

 

Second Annual Wisconsin Summit of Financial Literacy

 

Friday, October 12, 2012
Lambeau Field Atrium | Green Bay, WI
8:30 AM- 2:30 PM

 

Be sure you're at Lambeau Field Oct. 12 for the second annual Wisconsin Summit of Financial Literacy, which supports professionals who offer personal finance programs to diverse populations. Green Bay Packers President Mark Murphy will be among attendees cheering on participants and presenters, which include community educators, college professors shaping personal finance education, and K-12 teachers. Also enjoy 4 free waterpark passes that accompany discounted room rates at nearby Tundra Lodge and Resorts.

 

Click here for additional information. Register by October 10.

Job Summary:

Ensuring that all records of the credit union, as they pertain to credit union policies and procedures, are accurate and in adherence to rules and regulations as set forth by NCUA, the State of Wisconsin, federal law, etc. This person will also be responsible for ensuring the quality and accuracy of credit union documentation and member records by reviewing and correcting daily work and computer input.

 

Essential Functions:

  • Dormant Accounts: monitor activity, review and notify members
  • Working reports for multiple departments
  • Taking member telephone calls and answering member questions
  • Research transactions and correct posting errors
  • Monthly CD maturity report and daily CD interest check report
  • Logging Incoming/Outgoing Wires
  • Reviewing member forms for accuracy and completeness
  • Back-up other areas of the Electronic Services department as needed

 

POSITION REQUIREMENTS

 

Qualifications:

  • Attention to detail and strong analytical skills are required
  • Effective oral communication skills to converse with members and coworkers
  • Must have accurate data entry skills
  • Previous quality control/auditing experience desired
  • Sound judgment and decision making abilities
  • Must have excel experience
  • Uses effective time management and is able to manage multiple projects
  • Ideal candidate will have previous financial experience

 

Education:

  • High school diploma or its equivalent
  • Minimum of an Associate's Degree in Business Management, Business Administration (or equivalent) required


Reply to: Unison Credit Union

 1616 Crooks Ave

Kaukauna, WI 54130

www.unisoncu.org

 

humanresources@unisoncu.org

Share insights with Wisconsin Economic Development Corp.

 

You’re invited to attend the Wisconsin Economic Development Corp.'s Financial Services Roundtable meetings Dec. 5 and in 2013.

 

The WEDC is the state’s leading economic development entity that was created by Governor Scott Walker's special session on jobs and replaced the Department of Commerce in July 2011.

 

As part of the meetings, which will convene at the UW Fond du Lac campus, credit unions will receive an update on the organization’s plans and progress, share insights affecting the financial services industry, and discuss possible areas of collaboration through a Financial Services Consortium.

 

In addition to financial institutions, WEDC is collaborating with individual task teams that are focusing on:

 

 

 

 

Register now for the Dec. 5 meeting, and mark your calendar for the 2013 dates, tentatively set for March 7, June 6, Sept. 5, and Dec. 5.

Questions about the meeting can be directed to Luke Fuszard at (608) 210-6846.

 

Identifying Loan Opportunities

 

Thursday, January 31, 2013

10:00 - 11:00 am CST

 

About the Program

Most, if not all, credit unions today are looking for additional lending opportunities to increase revenue. During this webinar, we’ll take a look at:

  • Why your loan volume is below expectations
  • How to address, and resolve, that issue
  • Internal and external assistance for loangeneration

 

Afterwards, you should be able to identify your credit
union’s loan challenges and the opportunities and
resources available to overcome those challenges.
Speaker: Michael Bartoo
MARQUIS

Speaker: Michael Bartoo

 

Save the Date!

Register now: State GAC rooms to be released Dec. 23

The State Government Affairs Conference, Jan 22-23 in Madison, is a must-attend event to promote and protect the interests of the 2.3 million credit union members in our state. With the November election and recent redistricting, you may have new legislators representing you, your credit union and members. Take this opportunity to start or strengthen your relationships with elected officials and you'll hear from top Wisconsin political observers like Jeff Mayers of Wispolitics.com. Most credit unions and Activists qualify for at least one of our registration discounts.

 

The 2013 State Government Affairs Conference is an efficient and effective way to advocate for your credit union. Not convinced? Consider just a few of the reasons to attend:
 

  • It's up to us to educate lawmakers about credit unions. Attendees will visit collectively with all 132 legislative offices to ensure our lawmakers understand the differences between credit unions and banks, the current regulatory environment and challenges facing your credit union and members. If we don't tell our story, we let the banker, payday lenders and other interest groups define our industry and interests. This is nothing new, as the Wisconsin Bankers Association continues efforts to legislate, litigate and regulate credit unions out of business, including recent efforts to derail credit unions' business lending bill and eliminate credit unions' corporate tax exemption.
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    Racine Mayor and former League Director of Government Affairs John Dickert will address our group.

 

  • Your legislators may be newly elected or newly redistricted to represent your community. After the election and recent redistricting, there are lawmakers that are new and lawmakers that are representing new communities. Attend the State GAC to introduce these lawmakers to your credit union and communities and strengthen relationships with returning lawmakers. Then continue fostering these connections with additional follow-up year-round!

 

  • Legislators need your guidance before they work on the state budget. The state budget process is critical in that measures that affect credit unions can become part of this massive legislation, making it difficult to call attention to each individual issue. By sharing our priorities and building relationships from the beginning, we ensure that legislators appreciate credit unions' perspectives and value and protect our issues.

 

  • Gain insights from top political observers and key legislators. Award-winning Marquette University Law School Professor Charles Franklin will share his post-election analysis and Jeff Mayers, President of WisPolitics.com will facilitate a panel discussion on politics and policies. Racine Mayor and former League Director of Government Affairs John Dickert will also address the group, as well as state lawmakers who–through their committee and leadership roles-can influence financial institutions.

 

  • There's a registration deal for everyone! Take advantage of $99 registration for young professionals (includes a pre-conference workshop Jan. 21), first-timers and Conduit Account holders. Also get up to 2 free registrations by being a payroll deduction CU, and by adding five new employees to the program by January 4.

 

Register now! Questions? Contact Judy Philips at (262) 408-6020.

 

Risk-Based Lending: Best Practices in Challenging Times

 

Wednesday, October 16, 2013

10:00 am - Noon CST

 

Speaker: Celeste Cook, cuStrategies, LLC

 

About the Program

In a challenging economy with high unemployment, increased bankruptcies, and low consumer confidence, successful credit unions must find ways to increase loan growth and profitability without increasing risks. Explore risk-based lending best practices that have proven to increase loan growth and profitability in a challenging economy. Learn how you can analyze credit reports and show members how they can improve their credit scores. Find out what you can do to strengthen relationships with your existing and new members seeking loans. Explore risk management strategies that help successful credit unions minimize losses and delinquencies.

 

  • Learn how you can cultivate a proactive lending philosophy that will bring in more loan opportunities and increase member loyalty.
  • Discover creative lending strategies that help you capture more profitable loans.
  • Explore risk-based lending practices that increase loan opportunities and profitability
  • Learn how to analyze a credit report and assess risks without using the credit score
  • Find out how you can help people improve their credit score to qualify for loans and get lower interest rates
  • Determine the best approach to turn unsecured loan requests into secured loan requests
  • Discover risk management strategies that can minimize losses and delinquencies

 

10 Steps to Increase Loan Opportunities

 

Thursday, March 28, 2013

10:00 - 11:00 am CST

 

Speaker: Celeste Cook, CU Strategies, LLC

 

About the Program

Can credit unions experience significant loan growth, profitability, and membership growth in a challenging economy? Absolutely!

 

Credit unions across the nation have experienced nominal to negative loan growth due to economic conditions that have resulted in high unemployment, increased bankruptcies, and a lack of consumer spending. Successful credit unions must be proactive, not reactive, in their effort to maximize loan growth and profitability while managing risks and minimizing losses. Explore a ten-step process that has been proven to increase loan opportunities, profitability, and membership growth in a challenging economy. Discover creative lending strategies, innovative marketing initiatives, and a unique lending program thatcredit unions can integrate for successful growth!

 

HR Roundtable

 

February 20, 2013

 

Radisson Paper Valley
333 West College Ave., Appleton
(800) 333-3333

Rate - $99.00 single/$109.00 double occupancy, plus tax. When making your reservation, please ask for The Wisconsin Credit Union League sleeping room block.


Release Date - January 22, 2013

 

About the Program

This event is designed to provide opportunities for credit union Human Resources Professionals to discuss key issues with their peers from around the state. This unique roundtable provides the chance to interact face-to-face with your peers in an informal setting, designed to optimize knowledge sharing and maximize networking. Register today to save your seat for this annual must attend event at the Radisson Paper Valley, Appleton.

 

CoVantage CU receives $1.5M grant to help struggling homeowners

 

CoVantage Credit Union, headquartered in Antigo, will use a $1.5 million grant from the federal Community Development Financial Institution Fund – plus an additional $8.5 million in loan funds its Board of Directors has specifically earmarked – to expand its Rescue Refinance Program, which helps local residents struggling with mortgage debt.

 

CDFI (Community Development Financial Institution) grants help financial institutions throughout the U.S. offer products and services that would otherwise be out of reach for thousands of low-income Americans. Institutions receiving the funds must qualify under guidelines set forth by the U.S. Department of the Treasury, which administers the program.

"Part of our mission at CoVantage is to help those having financial difficulty. The decision to apply for this grant was easy, and it is rewarding to know the funding it provides will help our credit union continue living that mission," said CoVantage Credit Union's Executive Vice President Paul GrindePaul Grinde.

 

He explained that many families and individuals have been unable to keep up with their mortgage payment because of rate increases imposed by their current lender, but are unable to refinance their loan using traditional methods because of declining property values. The credit union’s Rescue Refinance program helps these homeowners by providing a "bridge" between what they can currently qualify to borrow and the amount needed to preserve the home.

 

For example, homeowners can borrow up to 90% of the value of their property without private mortgage insurance – the maximum that lending regulations allow - on an adjustable rate mortgage with a fixed rate for the first 10 years. The rest of the funds needed would be obtained through a second mortgage to be repaid at a later date. Using this extra source of funding, borrowers could finance the amount between the first and second mortgage, at 110% loan-to-value. The refinance could be used to pay existing first and second mortgages, including any past-due property taxes, judgments and other refinancing. With the grant, there is no payment due or interest charged on the second mortgage as long as the home is owner occupied.

 

"With the CDFI funds, we can now make our Rescue Refinance program available to individuals who previously may not have qualified. This program has the potential to help hundreds of people who otherwise may not be able to keep their home," said Grinde.

 

Brewery Credit Union received CDFI funds in 2010  to provide special assistance to members it serves in the near-downtown Milwaukee area.

"It’s really gratifying that two credit unions in Wisconsin – one serving an urban area and now another serving largely rural communities – has received these funds," said Chad Helminak, The League’s Director of REAL Solutions and Outreach. "These credit unions and others have offered an array of programs simply to help members that could not receive the assistance elsewhere. That is what Wisconsin Credit unions’ REAL Solutions effort is all about, and why – year after year – credit unions are being recognized for demonstrating their social responsibility."

 

Credit unions that serve a qualifying number of members who are considered low-income may qualify for CDFI awards. According to CUNA, while credit unions hold only a 13.6% market share for financial services in Wisconsin, they operate 40% of all financial branches in low-income areas. 94% of banks have no branches in these areas.

 

CoVantage was the only Wisconsin credit union that received a CDFI grant during the latest round of funding, which provided 155 CDFI-designated institutions more than $142 million to serve economically distressed communities.

 

Webinar: Qualifying Borrowers Using Personal Tax Return Part I: Basics, Itemized Deductions, Interest & Dividend Income, Sole Proprietorships & Capital Gains

 

Wednesday, January 23, 2013

 

Speaker: Tim Harrington, TEAM Resources

 

About the Program

How do you verify a borrower’s income from a tax return? Many people take AGI and add back depreciation. That might be right, but even a broken watch is right twice a day. Extracting cash flow from a personal tax return is much more detailed than that. This session will teach you how to read and understand a borrower’s tax return and convert taxable income into cash flow. Loans are paid with cash flow, which rarely matches a borrower’s taxable income. We will start with the basic incomes, then move to interest and dividend income (Schedule B), sole proprietor income (Schedule C), gains or losses on sales (Schedule D) and installment sale income (Forms 6252 and 4797).

 

Overestimating income from a tax return can lead you to approve a weak loan that could eventually cost you tens of thousands of dollars. Underestimating income can lead you to deny good loans you need to grant in this tough economy. This webinar will make the process of analyzing personal income tax returns simple and understandable by using quality instruction and frequent examples.

 

Handling Objections

 

Tuesday, May 7, 2013

10:00 - 11:00 am CST

 

Speaker: Kate McPike, Trainer & Consultant

 

About the Program

Objections are part of the sales process. It’s usually the part of the sales process that we don’t like...when someone objects to a product recommendation, it makes us feel uncomfortable. In this session you will learn:

  • Where an objection usually falls into the sales process.
  • Why objections occur.
  • How you can prevent objections from arising in the first place.
  • How you should respond to an objection.
  • Different ways to ask for the business.
  • How to close the sale.

Successful searches on CU-finder website could grow with your input

 

In Wisconsin in 2012, 4,547 consumers from 207 cities visited www.aSmarterChoice.org seeking information about credit unions, and 1,774 of those consumers conducted a successful online search, identifying one or more credit unions they were eligible to join if they fell within the required field of membership.

 

In 2012 among all U.S. states, Wisconsin ranked 20th in the number of total visitors to the website, which has become the premier resource for media to point to any credit union nationwide that consumers can join.

 

Nationwide in 2012, 385,000 visits to the site were made by more than 250,000 unique visitors, and of those visitors, 218,000 successfully found a credit union they were eligible to join on their first try.

 

The strong 2012 numbers came on the heels of "Bank Transfer Day." That event alone, which urged consumers to ditch their banks in November 2011, drove the site to record more than 240,000 visits from 198,000 unique visitors in 2011.

 

Since the site was launched in February 2011, the site has received a total of 626,000 visits from more than 450,000 unique visitors. There have been more than 403,000 searches for credit unions with 229,000 successful matches occurring on the first try.

 

Credit unions can help ensure an effective search – and gain new members – by updating the basic information that’s on the site including the credit union’s contact information, main office and branch locations, field of membership and affiliation. Credit unions can include up to four links such as to your member website or your Facebook or Twitter pages, provide an email address as a first point of contact and provide either a marketing message or list of select employee groups that can join.

 

The more detail a credit union provides, the more likely a consumer will complete a successful search.

 

All Wisconsin credit union presidents received a username and password to edit their information. Presidents can, in turn, add (or delete) other users to help manage the information. Credit unions can add, change or delete information from the site at any time.

 

Questions? Contact Judy Phillips at (262) 408-6020.

Top tech guru teaches mobile, tech planning at Convention

Lee Wetherington, who guides top-performing financial firms on cutting edge technologies, will share with attendees at The League's Annual Convention & Expo the key insights you need to ensure your credit union's mobile and other technologies are on pace to meet future demands.

 

Director of Strategic Insight for ProfitStars, Wetherington is noted for driving progress in the financial services sector by communicating to top executives the trends and implications of new technologies. At convention, he'll offer:

  • Image
    Lee Wetherington
  • The breakout session: "All Things Mobile: Alerts, Payments, Remote Deposit & Security." More than half of all U.S. mobile consumers now have smartphones, and 100 million U.S. consumers are expected to use mobile technology by 2014. But not all mobile devices are created equal when it comes to banking. Forty-eight percent (48%) of tablet owners conduct mobile banking compared with only 28% of all mobile consumers, and the number of tablet-using adults will increase 20% annually over the next five years. Which devices are most popular, and which will have the biggest impact on mobile banking? How does adoption vary by institution size? What do Google's acquisition of Motorola and Visa's announcement of a fraud liability shift mean for mobile payments? Which set of mobile banking alerts can preempt the most frequent and costly service inquiries? Which can generate fee revenue? Your credit union has unprecedented opportunities to extend service at a low cost, generate non-interest income and revolutionize how you interact with members in real-time to deepen your relationships and earning potential. Wetherington shows you how.

 

  • A general session, "Innovating from the Future, Backwards: The Art & Science of Strategic Foresight in Financial Services." Why are 11% of banked consumers planning to switch financial institutions in the next 12 months and who are these people? What happens to PC-based online banking in a mobile-centric world of smartphones and tablets? What will be the impact of mobile payments and mobile commerce? Do community banks have unique advantages and opportunities in the world of post-Durbin payments? Wetherington provides a forecast and summary of the industry’s best research on upcoming developments in online, mobile, payments and branches, and shares the strategic and tactical positioning that will best serve financial institutions over the next 18 months.

 

Wetherington is among the most acclaimed technology speakers in the U.S., having given more than 300 presentations for state and national trade groups that focus on opportunities and challenges related to e-banking, payments and more. His comedic style has earned rave reviews.

 

He serves as a technology faculty chair for several regional schools of banking and finance, is accredited through the national Automated Clearinghouse Association, and is renowned for the cutting-edge guidance that has driven bottom line results for the nation's largest and most well-recognized financial players.

 

Read more about Convention's featured Speakers, and act now to register and secure reduced-rate lodging!

 

Questions? Contact Judy Phillips at (262) 408-6020.

 

Webinar: Advertising Compliance: Web, Print, TV & Radio

 

Thursday, June 27, 2013

 

Speaker: Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne, LLP

 

About the Program

What you don’t say can be a compliance violation! What you do say can be a compliance violation! Confusing? Absolutely! Whether it is print media, radio, TV, lobby posters, brochures, or the Internet, multiple regulations impact your credit union’s advertising. You must be knowledgeable to avoid compliance pitfalls. However, rules and regulations can be costly to implement and difficult to interpret. This session covers the numerous rules and regulations that restrict advertising content and mandate specific disclosures, as well as the form and content of all types of advertising. Risking noncompliance is not an option! A single regulatory violation, or worse, a pattern of violations, can lead to regulatory fines and potential lawsuits.

 

HIGHLIGHTS

  • Unfair, deceptive, and abusive advertising practices
  • Special rules for websites and mobile banking
  • Restrictions on use of email, fax, and telephone solicitations
  • Copyright and trademark infringement
  • Promotional contests and prizes

Protect asssets, minimize risk: Collections Seminar May 29


The League's Collections Seminar May 29 in Pewaukee offers strategies to help you collect debts faster, protect your assets more effectively and minimize the risk of costly lawsuits, fines and judgments levied against you, whether you collect primarily from members or their businesses.

 

You'll learn:

  • what steps to take prior to filing an action (money or replevin);

 

  • how to file the action and obtain a judgment;

 

  • what options you have post-judgment; and

 

  • nuances of self-help repossessions, foreclosures and deeds-in-lieu of foreclosure and small claims actions.

 

You'll also have a better grasp on the requirements of the Wisconsin Consumer Act and Fair Debt Collection Practices Act and benefit from a panel discussion on what practices work best.

 

Register by contacting Judy Phillips at (262) 408-6020.

 


Additional resources

View the PDF version of the Scorecard

View PDF of press release

View press release archive


Media contact

Christine Henzig
Director of Communications
(262) 408-6019
chenzig@theleague.coop

Big savings - $1 billion since 2007 in Wisconsin - attracts more consumers to credit unions


Governor's Proclamation during Financial Literacy Month cites credit unions' commitment to financial education

 

Pewaukee, Wis. - Consumers across Wisconsin visited aSmarterChoice.org last year to find a credit union they can use for their banking. Almost 90,000 people became credit union members in 2012 and started reaping the huge savings credit unions offer on every day financial services – totaling more than $1 billion in Wisconsin alone since the start of the recent recession in 2007. For example, consumers who use a credit union can:

 

  • Still receive free checking. The great majority of credit unions report that this remains true for their checking-related services. Plus, credit unions’ average returned check fee is less than banks.

 

  • Save $110 per year per household because of more competitive pricing on financial services overall. Those who use a credit union extensively receive total financial benefits much greater than this.

 

  • Save $1,150 in interest to finance a new car compared to using a bank. This is based on a $25,000 vehicle with funds borrowed for five years, with a savings of $230 per year in interest.

 

  • Receive an interest rate that’s almost a percent lower than banks for a typical "gold" credit card. Credit unions' late payment fee on a credit card is about $10 less than what banks charge.

 

  • Access 30,000 ATMs – the largest ATM network in the country - at no cost. Consumers with participating credit unions can find free ATMs that are part of credit unions’ CO-OP Network by going online or using their smart phones.

 

  • Make transactions at 5,066 branches – the nation’s fourth largest branch network – called CU Service Centers. This convenience is almost unrivaled by other financial institutions. Whether making a loan payment or withdrawing or depositing cash or checks, consumers can visit any physical location in the CU Service Center network and use it as if it were their own.

 

"Because credit unions have no outside investors, they return their earnings to the 2.4 million Wisconsinites who use them through higher rates on savings deposits, lower rates on loans and lower and fewer fees," said Brett Thompson, President & CEO of The Wisconsin Credit Union League. "That is in addition to credit unions' community support and free financial education highlighted in a Governor's Proclamation recognizing April as Financial Literacy Month."

Learn more about the value credit unions deliver at www.theleague.coop/scorecard and www.theleague.coop/forareason.

Our corporate credit union is seeking a dynamic pro-active financial sales professional to promote our Broker/ Dealer partner's marketable securities program. This position will be charged with building and maintaining investment and liquidity relationships, primarily through proactive phone contact. The qualified candidate will be well educated and have a minimum of two successful years of experience selling to financial institutions, along with a proven ability to build rapport and serve as a fiduciary expert. Must possess Series 7 and 63 licenses along with a sound understanding of investments and the overall financial markets. Only highly motivated, results-orientated people should apply. We offer the opportunity to grow and excel in a dynamic, fast paced environment while rewarding employees with an excellent wage and benefits package.

 


For consideration, please submit resume and compensation requirements in confidence to: personnel@corpcu.com Corporate Central Credit Union 6262 South Lowell Place Muskego, WI 53150


 

 

CU House/Hike the Hill

 

June 18, 2013

Credit Union House

Washington, DC

 

FREE EVENT!

9:00 am - Briefing
10:30 am - 5:00 pm - Hill visits
5:30 pm - Reception

 

LODGING: The League has reserved a number of rooms at the:
Embassy Suites Washington D.C. - Convention Center 900 10th Street NW, Washington, District of Columbia, 20001
TEL: 1-202-739-2001

Group Information
Group Name: The Wisconsin Credit Union League
Group Code: WCL
Check-in: 17-JUN-2013
Check-out: 20-JUN-2013

RATE: $289.00/night, plus tax (Room available June 17 - 19th )            Release Date: June 3

Be sure to mention these guest rooms are in The Wisconsin Credit Union League room block to receive this special rate. Registering for this event automatically designates you as a credit union Activist!

 

Understanding Endorsements

 

Thursday, August 8, 2013

10:00 - 11:00 am CST

 

Speaker: Debbie Crawford, gettechnical inc.

 

About the Program

Having an understanding of endorsements is crucial to making sound check cashing decisions. A check is a unique type of contract where ownership can be transferred by way of the endorsement on the back of the item.

 

This session will cover the following and more:

  • What is a valid endorsement?
  • Bearer versus Order Checks
  • Who is the holder of a check and what is the holder in due course?
  • Ambiguous and Witnessed endorsements
  • Endorsements for minors and deceased parties
  • Endorsements for business accounts
  • Trustee and Power of Attorney endorsements

 

Webinar: Detecting Counterfeit Items & Fraudulent ID

 

Wednesday, September 11, 2013

 

Speaker:  Barry Thompson, CRCM, Thompson Consulting Group, LLC

 

About the Program

Protecting your credit union and members is everyone’s responsibility – especially the frontline. When an unknown member approaches the teller line, there are only three items tellers can use to detect fraud: the item presented, the individual presenting the item, and the identification the individual provides.

 

False identification, counterfeit items, and scams that can fool an untrained person mean major losses for the credit union. The person trying to defraud the credit union relies on only a cursory review of his/her identification. The ID doesn’t have to be perfect – it just has to pass an inattentive or rushed inspection.

 

This webinar will teach staff how false identification can be produced, while providing knowledge on how to analyze identification. Scams used by money mules or con-artists to rush staff through transactions will be included. Participants will also learn tips and techniques to help determine if signatures on negotiable items were traced, forged, or altered. This program will instruct those staff members most likely to encounter these attacks on how to identify and stop the criminal.

 

HIGHLIGHTS

  • Which tools frontline staff need to evaluate driver licenses
  • Steps that should be followed to analyze identification
  • High-risk documents that cause the biggest losses
  • An easy technique to train new staff on how to identify forged, altered, or traced signatures
  • Techniques that confidence people will use to confuse the person analyzing a transaction

 

Webinar: CFPB Examination Procedures for Mortgage Loan Originators: Effective January 10, 2014

 

Tuesday, September 10, 2013

 

Speaker:  Ann Brode, Brode Consulting Services, Inc.

 

About the Program

In January 2013, the Consumer Financial Protection Bureau (CFPB) issued the long-awaited final rules regarding mortgage loan originator compensation and qualification requirements under the Truth in Lending Act (TILA), as amended by the Dodd-Frank Act. The new compensation rules potentially have a major impact on mortgage loan officers/originators and financial institutions themselves.

 

These changes will affect policy and procedures and will include self-testing of the new compensation guidelines. Examiner guidance has been issued and financial institutions will be scrutinized regarding compliance with the new rules. This is a must-attend webinar in order to prepare for the January 10, 2014, deadline! You will be provided the tools you need to be compliant by this fast approaching deadline. Issues will be discussed step-by-step, example-by-example.

 

HIGHLIGHTS

  • Which loans apply?
  • Who qualifies as a Mortgage Loan Originator under the new compensation rules?
  • Compensation issues and examples (as well as what is not included)
  • How to determine if compensation is based on a transaction term
  • Issues when compensation is received directly from a consumer
  • Commissions for performing activities that are not loanorigination activities
  • “SAFE” compensation methods

Congressional recess: advocate in person during tax battle

 

ImageTake action now!

 

Take two minutes to protect the credit union tax exemption by helping Wisconsin reach our contacts goal. Please:

 

  • Share the link with your colleagues, friends and family.

 

 

  • Choose from additional tools and materials for engagement found on The League's or CUNA's grassroots resource pages.

 

 

Credit unions earn their tax status with decades of accomplishments and an unwavering commitment to their members' and communities' best interests. To lose the tax exemption would jeopardize the valued services and $8 billion in annual benefits that American consumers receive because of the income tax-exempt cooperative structure that allows credit unions to put the best interests of people ahead of profit.

While Wisconsin credit unions continue using their websites, social media, printed letters and more as part of their "Don't Tax My Credit Union" advocacy, the August recess, which ends Sept. 9, offers another important front in the battle: local visits with Wisconsin's Congressional delegation in district or even in your credit union.

 

Far from a vacation, this in-district work period is considered by Washington, D.C. insiders as "high season" for interest groups to reach their lawmakers. So it's likely that many of the hundreds of other advocacy groups fighting for priority for their tax status will pursue face time with Members of Congress over the next critical few weeks. It is key for credit union advocates to have an in-district presence as well.

 

Recent articles have talked about how Congress does a lot to engage with constituents during this period, offering a critical window for interest groups to amplify their message through a "surround sound" strategy.

One strategist said, "If you're going to get anything to move, you have to appeal to the lawmakers back at home. The smart outside groups have always used the recess to get their message through."

 

From now until Sept. 9, please advocate for your credit union by:

  • Inviting legislators to your credit union or in-school branch or

 

Credit unions have been working hard to direct their employees, directors and members to the grassroots action page, www.DontTaxMyCreditUnion.org, where a message to Congress can be sent in just seconds. Wisconsin credit unions are working in concert with The League to concentrate grassroots response during a dedicated week of advocacy. These weeks of advocacy can help Wisconsin regain our usual status as a state known for successful grassroots efforts; currently our state ranks a distant 19th in total contacts made among states fighting to preserve credit unions' tax status.

 

At the same time, bankers are using a website, social media campaign and videos (see 1, 2 and 3) in hopes of derailing our effort.

 

"Advocacy during the coming weeks as the tax reform bills are being drafted—and as our delegation is back in their districts for the August recess—will be essential to our success," said VP of Government Affairs Tom Liebe.

 

"If our tax status is preserved in the draft, expected sometime in September, then our job will be to defend that position before the full Congress," he said. "But if we're not accommodated, we face a much more significant challenge of restoring the tax status in committee, on the floor, or in conference committee. That's a risk credit unions should avoid at all costs."

Even if a tax reform bill does not advance this session, Liebe notes, a strong voice in support of credit unions will be crucial to preserve the current tax status because the decisions made today are the likely starting point from which tax reform deliberations continue.

 

Image

WESTconsin CU recently tweeted the Don’t Tax My Credit Union video, and by tagging their legislators, they made sure that @RepRonKind,    @TammyBaldwin and @SenRonJohnson would see it. Tagging your legislators in tweets and using the hashtag #DontTaxMyCU not only helps track these messages, but ensures that they reach the legislative audience. Thanks WESTconsin!

 

Educators CU
Website: https://www.ecu.com/
Phone Number: (800) 236-5898


Branches


Address: 4215 Green Bay Rd. Kenosha, WI 53144
State Rep: Peter W. Barca (D-WI-064)
State Sen: Robert Wirch (D-WI-22)
U.S. Congressman:  Paul Ryan (R-WI-01)

 

Address: 900 Wood Rd. Student Center, Suite D108 Kenosha, WI 53141
State Rep: Peter W. Barca (D-WI-064)
State Sen: Robert Wirch (D-WI-22)
U.S. Congressman:  Paul Ryan (R-WI-01)

 

Address: 7025 W. Appleton Ave., Milwaukee, WI 53216
State Rep: LaTonya Johnson (D-WI-017)
State Sen: Nikiya Harris (D-WI-006)
U.S. Congressman:  Gwendolynne Moore (D-WI-04)

 

Address: 7139 N. Port Washington Rd., Milwaukee, WI 53217
State Rep: Dan Knodl (R-WI-024)
State Sen: Alberta Darling (R-WI-008)
U.S. Congressman:  Gwendolynne Moore (D-WI-04)

 


Address: 4000 W. Loomis Rd., Milwaukee, WI 53221
State Rep: Daniel Riemer (D-WI-007)
State Sen: Tim Carpenter (D-WI-003)
U.S. Congressman:  F. James Sensenbrenner Jr.  (R-WI-05)

 

Address: 10811 W. Park Place, Milwaukee, WI 53224
State Rep: Frederick Kessler (D-WI-012)
State Sen: Lena Taylor (D-WI-004)
U.S. Congressman:  Gwendolynne Moore (D-WI-04)

 

Address: 2243 N. Prospect Ave., Milwaukee, WI 53202
State Rep: Jon Richards (D-WI-19)
State Sen: Chris Larson (D-WI-07)
U.S. Congressman:  Gwendolynne Moore (D-WI-04)

 

Address: 1515 W Lapham Blvd., Milwaukee, WI 53204
State Rep: Jocasta Zamarripa (D-WI-008)
State Sen: Tim Carpenter (D-WI-003)
U.S. Congressman:  Gwendolynne Moore (D-WI-04)

 

Address: 1201 Marquette Ave., South Milwaukee, WI 53172
State Rep: Mark R. Honadel (R-WI-021)
State Sen: Chris Larson (D-WI-07)
U.S. Congressman:  Gwendolynne Moore (D-WI-04)

 

Address: 150 W. Ryan Rd., Oak Creek, WI 53154
State Rep: Mark R. Honadel (R-WI-021)
State Sen: Chris Larson (D-WI-07)
U.S. Congressman:  Paul Ryan (R-WI-01)

 

Address: 448 Falcon Ridge, Burlington, WI 53105
State Rep: Robin Vos (R-WI-063)
State Sen: John Lehman (D-WI-021)
U.S. Congressman:  Paul Ryan (R-WI-01)

 

Address: 1400 N. Newman Rd., Racine, WI 53406
State Rep: Robin Vos (R-WI-063)
State Sen: John Lehman (D-WI-021)
U.S. Congressman:  Paul Ryan (R-WI-01)

 

Address: 3525 Rapids Dr., Racine, WI 53404
State Rep: Tom Weatherston (R-WI-062)
State Sen: John Lehman (D-WI-021)
U.S. Congressman:  Paul Ryan (R-WI-01)

 

Address: 1300 90th St., Sturtevant, WI 53177
State Rep: Robin Vos (R-WI-063)
State Sen: John Lehman (D-WI-021)
U.S. Congressman:  Paul Ryan (R-WI-01)

 

Address: 611 E. Geneva St., Suite A, Elkhorn, WI 53121
State Rep: Amy Loudenbeck (R-WI-031)
State Sen: Neal Kedzie (R-WI-011)
U.S. Congressman:  Paul Ryan (R-WI-01)

 

Address: 15350 W. Howard Ave., New Berlin, WI 53151
State Rep: Mike Kuglitsch (R-WI-084)
State Sen: Mary Lazich (R-WI-028)
U.S. Congressman:  F. James Sensenbrenner Jr.  (R-WI-05)

 

Address: 1600 Summit Ave., Waukesha, WI 53188
State Rep: Adam Neylon (R-WI-098)
State Sen: Paul Farrow (R-WI-033)
U.S. Congressman:  F. James Sensenbrenner Jr.  (R-WI-05)

 

 

Enterprise CU
Website: https://www.enterprisecu.com/
Phone Number: (920) 674-5542


Branches


Address: 15850 W Bluemound Road, Brookfield, WI 53005
State Rep: Rob Hutton (R-WI-013)
State Sen: Leah Vukmir (R-WI-005)
U.S. Congressman:  F. James Sensenbrenner Jr.  (R-WI-05)


 
Address: 765 N Broadway Street, Milwaukee, WI 53202
State Rep: Jon Richards (D-WI-19)
State Sen: Chris Larson (D-WI-07)
U.S. Congressman:  Gwendolynne Moore (D-WI-04)

 

Address: 6126 W. Layton Ave. Greenfield, WI 53220
State Rep: Mike Kuglitsch (R-WI-084)
State Sen: Mary Lazich (R-WI-028)
U.S. Congressman:  F. James Sensenbrenner Jr.  (R-WI-05)

 

Address: N88 W14930 Main St.  Menomone Falls, WI 53051
State Rep: Dan Knodl (R-WI-024)
State Sen: Alberta Darling (R-WI-008)
U.S. Congressman:  F. James Sensenbrenner Jr.  (R-WI-05)

 


Address: 1606 S 84th Street West Allis, WI 53214
State Rep: Joe Sanfelippo (R-WI-15)
State Sen: Leah Vukmir (R-WI-05)
U.S. Congressman:  F. James Sensenbrenner Jr.  (R-WI-05)

 

Address: 6402 W Brown Deer Rd Brown Deer, WI 53223
State Rep: Dan Knodl (R-WI-024)
State Sen: Alberta Darling (R-WI-008)
U.S. Congressman:  Gwendolynne Moore (D-WI-04)

 

Address: 1501 E. Sunset Dr. Waukesha, WI 53189
State Rep: Bill Kramer (R-WI-97)
State Sen: Paul Farrow (R-WI-33)
U.S. Congressman:  F. James Sensenbrenner Jr.  (R-WI-05)


 

Participate in a nationwide tax advocacy rally October 2

 

Join credit union supporters from across the country from the comfort of your own computer during the Virtual Don't Tax My Credit Union Rally, Wednesday, Oct. 2 from 1-2 p.m. Central Time. The rally, hosted from Credit Union House in Washington, D.C., will feature speakers, interviews and video conferences with credit union leaders and supporters nationwide. To join the rally, simply log on to www.DontTaxMyCreditUnion.org.

 

ImageWhat's at stake

 

Grassroots supporters of credit unions are urging lawmakers to preserve as part of tax reforms the federal tax exemption credit unions receive as not-for-profit, member-owned cooperatives. Credit unions’ tax-exempt structure, which allows credit unions to put the best interests of people before profits, preserves $8 billion in annual benefits for 93 million consumers nationwide.

 

Even if a tax reform bill does not advance this session, a strong voice in support of credit unions will be crucial to preserve the current tax status because the decisions made today are the likely starting point from which tax reform deliberations continue.

"Rather than rallying supporters at the National Mall—like so many campaigns do—this movement will rally tens of thousands of credit union members nationwide online," said Bill Cheney, president and CEO of CUNA.

 

To date, the campaign has generated over 900,000 messages to members of Congress, 15,000 of which have come via social media. Several Wisconsin credit unions have surpassed individual goals as part of a dedicated week of advocacy – an effort that has ranked our state 9th in the nation for total contacts to Congress.

 

Credit unions are urged to use materials provided by The League and CUNA to engage their staff, directors and members in this advocacy.

 

The DontTaxMyCreditUnion.org website allows you to send a pre-written email to Congress in just seconds. A sample letter is also available for members to sign in your lobby.

 

Questions? Contact Sarah Wainscott at (608) 514-0086. Please report your totals for contacts to Congress that your credit union coordinates outside the DontTaxMyCreditUnion.org website.

Want growth? Seize opportunities to serve

Image
Jim Schrimpf

 

Guest column by Jim Schrimpf

 

Smaller credit unions face many challenges: the oppressive deluge of new regulations, lack of a spread, slow loan demand, challenges to succession planning, and more. But there are small credit unions that are doing great and have a bright future. One way to get there is to meet overlooked financial needs, and in doing so, improve service penetration and cultivate member loyalty.

 

My credit union, Brewery CU, is a low income-designated and Community Development Financial Institution serving primarily the central city of Milwaukee. After losing money for four straight years in the late 90s, we decided to sell our branch in a suburban location to concentrate our efforts in the near downtown area, comprised chiefly of lower-income households. Does that seem counterintuitive?

 

Since that move, we have more than doubled our assets (with no mergers), have a capital ratio of 17%, membership has grown from 3,800 to 7,600 and we maintain a very strong ALLL with a loan-to-share ratio of 95%. Ours is one of just a few five star-rated credit unions by Bankrate.com.

 

Most of these statistics fly in the face of conventional wisdom, that serving predominantly modest income and working poor people is just too difficult to be successful long term. Our experience tells us otherwise and it begins with:

  • A dedicated and compassionate board and staff.

 

  • Putting higher risk loans on the books but pricing them according to risk.

 

  • Strong community involvement. We are founding members of Local First Milwaukee and won the 2012 Business Journal Central City Business award.

 

  • Offering products and services that uniquely address members' needs.   For example, we offer bus passes, stamps, low cost money orders, instant debit and ATM card issue, mobile banking, Fresh Start Checking (a second chance type of account), a payday loan alternative, secured credit cards, credit builder loans and mortgage loans under $25K. Our Fast Cash payday loan alternative has saved our membership over $900,000 in fees that they would have paid to traditional payday lenders.

 

 

  • Looking for reasonable ways to say "yes" instead of simply saying "no."

 

This is the core philosophy that has worked for us over the years and we are more than happy to share our best practices with any credit union that asks. But there's always more we can do; we need to follow up on many of the action steps in our movement's nationwide campaign for growth, Unite for Good.

 

I'd encourage Wisconsin credit unions to attend The League's Innovators In Outreach Roundtable on September 18, which will feature panel discussions on proven outreach strategies and wealth of resources to help you identify needs that, when met, can help credit unions grow. The League is also planning a webinar October 16 on risk-based lending that can reveal more ways of evaluating risk and saying "yes" to members.

 

The bottom line is that the world is changing fast and change is difficult in many ways. But for those who can see the needs all around them that have gone unaddressed, the future is ripe with opportunity.

 

Jim Schrimpf  is CEO of Brewery CU in Milwaukee. He can be reached at (414) 273-3170, Ext. 121. If you have a perspective on an industry issue you'd like to share with our readers, contact the editor.

 


 Image

The Unite for Good effort is an internal growth strategy developed by CUNA in conjunction with its Board, state leagues, credit unions and system partners. The plan's action steps – to remove barriers, increase awareness and foster service excellence–are aimed at helping more credit unions become their members' primary financial institution by compelling members to see credit unions as their best financial partner. Read more articles in our Unite for Good series.

 

TweetChat: The CU Difference

Tuesday, December 17, 2013

11:00 am CST

 

www.theleague.coop/tweet

 

Save the Date!

Compliance Compass: ready for January mortgage changes?

 

Image
Paul Guttormsson

Many new mortgage lending regulations take effect in January 2014. The League has been publishing Compliance Couriers, creating new ii Releases, and updating existing releases over the past year to help credit unions prepare. The Consumer Financial Protection Bureau (CFPB) Dodd-Frank Mortgage Rules Readiness Guide offers practical guidance to help credit unions implement the new rules.

 

Be sure your staff is ready to tackle the following changes related to:

 

  • Nine mortgage servicing requirements (Jan. 10, 2014). The League’s new ii Release No. B075  examines each of these rules.

 

  • Qualified mortgages & ability to repay (Jan. 10, 2014). See ii Release No. B074, which explains how credit unions must determine whether consumers have the ability to repay closed-end, dwelling secured loans. A CU making a "qualified mortgage" will be presumed to have complied with the ability-to-repay rule.

 

  • Loan originators (Jan. 10, 2014). Several changes will apply to "loan originators" who handle closed-end loans secured by a consumer's dwelling. The League’s ii Release No. B071 has been updated with all the changes.

 

  • High-cost under HOEPA (Jan. 10, 2014). The Reg. Z rules on high-cost  mortgages will cover more types of loans, and the tests for high-costs mortgages will change. Our ii Release No. B062 addresses all of these new rules.

 

  • Financing of credit insurance premiums (Jan. 10, 2014). The League has introduced ii Release No. B076 to explain the rules against financing any premiums or fees for credit insurance in connection with a consumer loan (regardless of lien position) that is secured by a dwelling.

 

  • Homeownership counseling disclosures (Jan. 10, 2014). Three rules related to homeownership counseling take effect in January, and all of the relevant ii Releases have been updated to reflect the changes. Credit unions will have to:

 

  • Provide a list of counselors within three days of application. See The League’s ii Release No. B014.

 

  • Confirm that counseling is done before making a closed-end, dwelling-secured loan that "may result in negative amortization" to a "first-time borrower." See ii Release No. B042.

 

  • Confirm that counseling is done before making high-cost mortgages under HOEPA. See The League’s ii Release No. B062.

 

  • Free copies of appraisals (Jan. 18, 2014). New ii Release, No. B077 (coming soon) will explain amendments to Reg. B that will require credit unions to provide home loan applicants with copies of appraisals. Other state and federal rules also require copies to be made available, as the release will explain.

 

  • Appraisals & escrows for higher-priced mortgages loans (Jan. 18, 2014). New rules will require interior appraisals and appraisal notices for certain "higher-priced mortgage loans." An additional appraisal will be required, at no cost to the borrower, if the house is being "flipped." ii Release No. B068 is up-to-date on these rules.

 

Questions? Contact me at (262) 408-6009.

Filene: tap innovations in saving money and serving members

The Filene Research Institute – the credit union movement's "think tank" in Madison – invites credit unions to tap the latest innovations in saving money and serving members, as well as its extensive library of research findings that can help your credit union make strategic leaps forward.

 

Two new pilot programs will shift into high gear in early 2013. They include:

 

  • Leeflet , a program that explains how credit unions have reduced brochure expenses by as much as 75% - and increased member usage of credit union services—by offering targeted materials online. The pilot will build on their success of an "open" rate of more than 70% and a click-through rate higher than 25%. It also demonstrates a new way to track what members are reading for more effective follow-up.

     

  • QUEsocial,  a program that offers a solution for credit unions to drive business by improving their social media efforts. Pilot participants will build an internal network of socially engaged team members beyond just marketing to include areas like recruiting, member service, product development and more. Better use of gaming and analytics will also offer new avenues to boost member engagement and use of credit union services.

 

Filene's i3 projects (focusing on ideas, innovation and implementation) assimilate and share with credit unions nationwide proven best practices regarding movement's most pressing challenges. Be sure to browse Filene's library of research reports to tap those resources!

For a fast glimpse at what Filene has unearthed to help credit unions on issues like strategy, lending, consumer behavior, marketing, credit union profitability, governance and much more, check out 101 Things: a snapshot assembled by the Filene Research team to light your path to important improvements at your credit union.

 

Questions? Contact Filene today!

 

Credit Union Examiner (civil service classification of Financial Examiner)

 

OFFICE OF CREDIT UNIONS DEPARTMENT OF FINANCIAL INSTITUTIONS MADISON, WI The Department of Financial Institutions’ mission is to ensure the safety and soundness of Wisconsin's financial institutions, to protect the consumers of financial services, and to facilitate economic growth. The agency regulates and licenses financial service providers who do business in Wisconsin. For more information, please visit their web site at: http://www.wdfi.org

 

There are currently three (3) Credit Union Examiner vacancies (civil service classification of Financial Examiner); all with the Office Credit Unions. Two (2) vacancies are in the South Central Territory of Wisconsin and one (1) in the Northwest Territory. Please note: candidates hired into these positions will typically have their home designated as their headquarters city and will live in the territory.

 

The Financial Examiner classification is assigned to Pay Schedule/Pay Range 07-04. Financial Examiner vacancies that may occur for the South Central and Northwest Territories within the next 6-12 months may be filled from this recruitment. Starting salary will be between $35,646 and $58,816 annually, depending upon qualifications, plus excellent benefits. A six-month probation will be required.

 

South Central territory counties: Dane, Dodge, Jackson, Jefferson, La Crosse, Monroe, Rock, Sauk, Trempealeau, and Vernon.

 

Northwest territory counties: Chippewa, Douglas, Dunn, Eau Claire, Iron, Langlade, Lincoln, Marathon, Oneida, Portage, Price, Sawyer, Taylor, Washburn, and Wood.

 

Job Duties: Financial Examiners working for the Office of Credit Unions are assigned to assist in conducting credit union examinations. In that role they are responsible for assuring compliance with statutes, rules, regulations and other controls affecting Wisconsin’s credit unions. Financial Examiners perform auditing and financial examination work; write reports and record findings; and work with credit union staff in helping to assure continued strength and stability throughout Wisconsin’s credit union industry. They review lending practices to ensure compliance with rules, policies, procedures, practices and statutes to assure that sound lending practices are taking place; make recommendations of appropriate corrective measures to address problem areas; and participate in proactive measures to help avoid fraudulent, deceptive, unfair or unstable financial business practices.

 

Special Notes: Well qualified applicants will typically have a four-year degree in Finance or Accounting, complemented by work experience in the financial services industry or other related fields. The Department’s preference is for employees to live within the territory where they will be employed. Overnight travel of no less than 50% may be required. Candidates will need to successfully complete a thorough background investigation and reference check prior to appointment. Due to the nature of this position, all applicants who may be appointed to this position will be asked to allow the Department to conduct a background check to determine whether circumstances of any conviction may be related to the job being filled. Must possess a valid Wisconsin driver license that meets the State’s Risk Management requirements.

 

Job Knowledge, Skills and Abilities: This position requires knowledge of the financial services (credit union) industry; contemporary business structures; general business and financial management practices; lending and investment principles; accounting and auditing theory; skill in analyzing complex financial records and business record keeping systems; utilization of computer software packages; well-developed skills in speaking and writing and the ability to comprehend and apply complex policies, rules and laws.

 

How to Apply: If you have not already done so, you will need to create an account. After you are logged in and are viewing the announcement, click "Apply Now." You will be asked to provide your personal information and attach a resume. In addition to this information, you will be required to complete the online exam. You can preview the exam questions by clicking on the “Preview Exam” link. Your responses to the exam questions will be used to determine your eligibility for this position. Resumes will not be part of the initial screening process. Online applications that do not include all of the requested materials will not be considered.

 

The deadline to apply is Thursday, January 9, 2014. If you need assistance with the online application process, please contact Terry Wm. Kraus at 608-266-3357 or via e-mail to terry.kraus@wisconsin.gov

 

Examination responses will be evaluated in order to determine which candidates will receive further consideration.

 


Applicants will need to complete an online examination in order to be included in the recruitment process. Please go to: https://wisc.jobs/public/job_view.asp?annoid=70874&jobid=70389&org=144&class=02100&index=true and follow the application instructions in the "How to Apply" section of the job announcement. Application deadline is Thursday, January 9, 2014.


 

 

Garnishment - Webinar

Wisconsin Credit Union Compliance

 

Featuring the League's Legal Affairs Staff

 

Tuesday, August 13, 2013  (Now Available On-Demand)

10:00 - 11:30 am CST

 

About the Program

  • What to do when a member’s account is garnished
  • Key issues under Wisconsin law
  • The four steps required by federal law

 

 

 

TeleConference: The Security Function

 

Tuesday, February 11, 2014     (90 minutes)

10:00 - 11:30 am CST

 

Speaker: Dana Turner, Security Professional

 

About the Program

If you are your institution's Security Officer, your primary duty is to develop and administer a written Security Program for your institution. "Security" isn't just about alarms, robbery procedures and filing Suspicious Activity Reports any longer. "Security" has become the term that defines the evolutionary process that provides a safe and secure environment for employees to work -- and for members to do business. "Security" is also a control function that's often described as the act of providing protection and defense against real or anticipated threats. "Security" has evolved rapidly from a minimal function into the "Security Department" -- a business unit.

 

This workshop provides a logical and strategic model that's designed to help the institution's Board of Directors, senior managers and security personnel understand the true scope of security related regulations and industry-standard security practices. By understanding the cause and effect relationships involving the creation of an effective security function and risk reduction, the Security Officer may use this model to design and implement a standardized, institution-wide Security Program that meets or exceeds regulatory requirements.

 

The WEDC is currently seeking a WELL ORGANIZED, DETAIL-ORIENTED, PROFESSIONAL for our open Financial Underwriter Position located in Madison, WI. The WEDC Financial Underwriter is responsible for providing project management support to deliver projects within the established budget and timeline. This position is a key business member of a project team, participates in program and project development, disseminates project information and is an active participant in project-related work groups and committees. Find out more and become one of our team members by registering on our recruitment website and submitting your resume. Submit materials via the web: http://inwisconsin.com/recruitment/ Materials should be submitted by January 31, 2014 WEDC is an Equal Opportunity Employer

 


Find out more and become one of our team members by registering on our recruitment website and submitting your resume. Submit materials via the web: http://inwisconsin.com/recruitment/


 


Also see Topics A to Z:  Business Loans,        

 

We are seeking a teller/member service representative. We have a full-time opening for a dependable, service orientated individual. Ideal applicants will have previous teller experience, but we will consider training an applicant possessing solid customer service skills along with some basic cash handling, keyboard, and computer experience. You may be asked to perform other duties and responsibilities as assigned or deemed necessary in order to meet the credit union's goals and objectives. We need someone that has strong communication skills along with being passionate and enthusiastic about life and their job. Must enjoy a small office environment.

 


To apply send your resume to: stelizcu@aol.com Fax: 920-738-2615 Mail: ST ELIZABETH EMPLS. CREDIT UNION, 1506 S. Oneida Street, Appleton, WI 54915


 

Credit unions teach financial skills year-round, not just during Financial Literacy MonthUnite for Good Logo

 

Pewaukee, Wis. - April is Financial Literacy Month, and Wisconsin consumers will have many opportunities to improve their financial wellness through a variety of education programs and events. As member-owned institutions that put people before profits, credit unions put an emphasis on teaching money management skills not only in April, but year-round. For example, credit unions offer:

 

Additional resources

 

View the PDF version of the press release 

 

View the PDF version of the Scorecard 

 

View the press release archive



Media contact

 

Christine Henzig
Director of Communications
(262) 408-6019
chenzig@theleague.coop

 

  • Youth-run, in-school credit unions. Young people have saved more than $3 million in more than 110 youth-run branches of credit unions inside schools and youth centers that teach young people the habit of saving. The branches are considered a "best practice" for youth financial education.

 

  • Savings programs. April 20-26 is National Credit Union Youth Week, which invites young members to save. Last year during Youth Week in Wisconsin, 1,691 young people deposited $304,599 into credit union savings accounts.

 

  • Classroom learning. Credit unions provide a variety of financial education curricula, such as the brass|STUDENT PROGRAM, which includes the lifestyle money magazine brass, free to any Wisconsin high school that wants it. Resources for students and teachers online support state teaching standards. More than 350 teachers receive it for classroom use.  Credit unions also sponsor teachers’ ongoing education to improve personal finance lessons.

 

  • "Experiential" learning. Money Mission®, offered on credit union websites, is an online life simulation that challenges teens to balance their life along with their finances. So far, it is helping students in 48 states learn the fundamentals of personal finance and has awarded $21,000 in scholarships to college-bound students. This, and day-long "reality" simulations at local schools, has engaged tens of thousands of students in financial decision-making.

 

  • Free financial counseling. Credit unions provided almost 300,000 hours of this assistance in 2013 to prevent foreclosures and improve borrowers’ creditworthiness. Referrals to classes improve access to checking accounts.

 

  • Community Presentations. Credit unions deliver thousands of presentations annually on topics ranging from basic financial management to improving credit reports, home buying and more. Some credit unions support Money Conferences, events that teach low-income families financial basics. Other credit unions offer "savings challenges" involving cash prizes. Still others offer classes during Money Smart Week, set this year for April 5-12.

 

Wisconsin credit unions’ financial education efforts, and structure that has returned more than $1 billion to members in Wisconsin since 2007, are explained in a new report called the Scorecard, at www.theleague.coop/scorecard.

 

 


Credit unions are cooperative financial institutions that are owned by their members and do not have stockholders. Because they are not-for-profit, they return earnings to members via more competitive rates of return on accounts, lower interest on loans, lower fees and improved services. The  REAL Solutions Scorecard, at  www.theleague.coop/scorecard, explains how Wisconsin credit unions serve their communities and how they've saved their members more than $1 billion since the start of the recession. Around 2.4 million Wisconsin residents belong to credit unions, of which nearly half are open to the local community. Find a credit union to join by visiting  www.aSmarterChoice.org.

 

 

 

POSITION TITLE: INFORMATION TECHNOLOGY MANAGER

 

REPORTS TO: PRESIDENT

 

PURPOSE: Manages the information technology department. Implements and maintains policies and goals that support the organization's IT needs. Ensures proper functioning of the information processing system and oversees necessary upgrades. Helps business operations groups utilize information systems to improve their efficiency. Ensures computer equipment, hardware, and software are updated to meet organizational needs. Relies on extensive experience and judgment to plan and accomplish goals. Performs a variety of tasks. Leads and directs the work of others. A wide degree of creativity and latitude is expected.

 

ESSENTIAL FUNCTIONS AND BASIC RESPONSIBLITIES: Other duties may be assigned.

 

• Perform management duties within the organization including, but not limited to the following:

    o Managing Resource Workload and maintain a positive/open relationship with direct reports.

    o Working with team and management to set the technical direction of projects and direct reports.

    o Supervise work performance of direct reports

    o Manage budgets when necessary, including providing cost estimations for hardware and licensing of software applicable to run the hardware and virtual servers

    o Provide technical expertise to future business development efforts when necessary

 

• In cooperation with IT staff, management, operations staff and key stakeholders, provides disaster recovery/business continuity planning for all projects.

 

• Maintain and support core financial solution system.

 

• Monitors security compliance in accordance with standards, policies and procedures.

 

• Responsible for development and maintenance of systems documentation.

 

• Serves as the technical and communications liaison between operations staff and Project/Program managers.

 

• Responsible for installation and life-cycle maintenance of system hardware and software (includes servers, operating systems, workstations, software and Disaster Recovery components)

 

• Provides escalated technical support (server, SAN or network failure), including data backup recovery. Performs complex software/hardware troubleshooting, patches and re-installations.

 

• Maintain, modify and update Mitel 3300 MXe Phone system.

 

• Serves as the operations point of contact and accountable for the hardware and disaster recovery portions of new enterprise projects.

 

• Assists in the identification, development and communication of new technology standards and best practices as appropriate.

 

• Responsible for monitoring system performance and data backups they are completed on a regular basis.

 

• Manage and maintain effective communication with various third party vendors.

 

SUPERVISORY RESPONSIBLITIES: IT Department Staff

 

PERFORMANCE STANDARDS: Foster an environment that allows others to performs duties, responsibilities and accountabilities in accordance with internal BECU policies/procedures and any regulations relating to function to obtain World Class Member Service.

 

EDUCATION and/or EXPERIENCE: Preference of a bachelor's degree or a 2 yr. technical degree and at least 5 years of experience in the field or in a related area. Familiar with a variety of the field's concepts, practices, and procedures.

 

LANGUAGE SKILLS: Ability to read and comprehend simple instructions, short correspondence, and memos. Ability to write simple correspondence. Ability to effectively present information in one-on-one and small group situations to members, and other employees of the organization.

 

MATHEMATICAL SKILLS: Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent.

 

REASONING ABILITY: Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Ability to deal with problems involving several concrete variables in standardized situations.

 

OTHER SKILLS and ABILITIES:

 

• Knowledge of current IT technologies and methodologies.

 

• Knowledgeable in Disaster Recovery Plan development and implementation.

 

• Demonstrated experience with Virtual Server Environments (VMWare) and associated management software.

 

• Knowledge and experience with HP, IBM and Supermicro Servers.

 

• Knowledge and skills required to secure Cisco networks. Cisco Certified Network Associate Security (CCNA Security or CCNP Security) preferred or equivalent work experience with references.

 

• Familiarity with support and troubleshooting of Storage Area Networks (SAN).

 

• Demonstrated experience with Windows Exchange and Unix Server environments.

 

• Demonstrated experience with high availability technologies such as load balancers, clustering, etc.

 

• Demonstrated ability to lead a group of technical contributors.

 

• Analyze situations, evaluate alternatives, and implement solutions within standards (where applicable).

 

• Interpret guidelines and analyze factual information to adapt or modify processes in response to changing circumstances.

 

• May act as a resource to others to solve problems.

 

• Exercise independent judgment. Work affords significant opportunity to act independently on assigned tasks.

 

• Duties are performed under minimal supervision.

 

• Work and communicate with a wide range of people – peers, vendors, staff members including program leadership, and others.

 

• Formulate and clearly communicate ideas to others.

 

• Experience in the financial industry a plus.

 

PHYSICAL DEMANDS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit, use hands to finger, handle, or feel objects, tools, or controls; reach with hands and arms; and talk or hear. The employee frequently is required to walk. The employee is occasionally required to stand and stoop, kneel, crouch, or crawl. The employee may occasionally lift and/or move up to 50 pounds. Specific vision abilities required by this job include close vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.

 

MENTAL DEMANDS: The mental characteristics necessary to competently perform this job include the need to occasionally be creative, use complex and basic numeric calculations, and memory; to frequently use reading and writing ability, good judgment, and reasoning ability; to continuously be alert, precise, resourceful, and use problem solving abilities.

 


Send cover letter and resume to jobs@becu.net

 

Tweet Chat: Member Outreach

 

Tuesday, June 17, 2014
11:00am -11:30am

 

How does a tweet chat work?

  1. Log onto Twitter on the third Tuesday of the month at 11:00 am CST
  2. Type #WICUchat into the search box
  3. All of the tweets with that hashtag will appear
  4. Start reading, tweeting and retweeting!
  5. Be sure that all of your tweets use #WICUchat so don't miss any of your tweets
  6. Questions will be tweeted by The League @WICULeague using a Q1, Q2, etc. format
  7. Reply to the tweets using a corresponding A1, A2, etc. format so that we know what you're responding to
  8. Have questions? Contact Angela Klaves (262-408-6018)
     

 

Additional Tweet Chat Information 

 

Save the Date!

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