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Invest in America

 

The UW Oshkosh Credit Union is looking for a qualified applicant for a great position on the operations side of the CU. -Very competitive pay -Casual work environment -37.5 hour work week on average -Paid Life and Disability insurance and 80/20 health insurance -401(k) with 7% match and fully vested after 6 months -Great opportunity for advancement as the credit union is continuing to grow. -Possible grad tuition reimbursement The individual will assist in maintaining accurate accounting records and the preparation of financial statements. Responsible for efficient data processing operations and ensures that current data processing standards and schedules are maintained. Major Responsibilities: 1.Posts detailed entries to operating records and handles routine transactions such as disbursements, payroll operations, voucher preparation and remittances, and prepares accounting entries. 2.Prepares and verifies various standard accounting entries for financial data processing system, reconciles report discrepancies and problems 3.Balances corporate accounts and corespondent accounts. 4.Prepares all fiscal reporting, such as cost accounting, regulatory agency and government reports plus reports to management and directors. 5.Conducts internal cash audits and furnishes audit reports to management. 6.Maintains automated accounting systems and uses computer resources to ensure prompt and accurate data processing. 7.Assists senior management in the preparation of annual budgets and long range forecasting 8.Other duties as assigned.

 


Apply with cover letter and resume, including salary expectations and references to chicoine@uwocu.org


 

 

Are you looking for some extra income? Do you like helping others? Would you like to join an amazing team at the #1 financial institution in area as voted by Gazette readers? Blackhawk Community Credit Union is looking for some Peak Time (on-call) Member Advisors to fill in on Saturdays (4 hours) and to cover hours during the week, as needed, at our 6 retail locations. Member Advisors are responsible for opening new accounts, taking loan applications, assisting members with various financial needs and being a general source of information for our members. Previous experience in customer service or retail is preferred. Candidates must be interested in working variable hours and being "on-call". For more details and to apply, please visit the careers page at www.bhccu.org.

 


For more details and to apply, please visit the careers page at www.bhccu.org. If you have further questions, please contact Leslie Hulick directly at lhulick@bhccu.org.

 

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Tweet Chat: Financial Literacy

Tuesday, September 16, 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!

Bank Attacks On Credit Unions Image

 

Banking trade associations have undertaken a new highly organized grassroots attack on credit unions. For-profit banks have begun using their staff to call on both the federal government and many state governments to raise taxes on credit unions and oppose pro-credit union legislation. To no one's surprise, the very banks who are achieving record smashing profits are seeking their own tax exemptions all the while urging lawmakers to raise taxes o individuals and families! This program - called Operation Credit Union - is designed to involve bank staff in a long term grassroots action in support of credit union taxation and elimination. Some banks even hold contests and essentially pay-off their staff for engaging in the program opposing credit unions.

 

For decades, credit unions have held the respect of Congress as a grassroots powerhouse. We successfully - and by wide margins -fought back when the bankers sought to destroy credit unions by limiting who could join. Congress voted with the credit unions to pass The Credit Union Membership Access Act in 1998 over the objections of the bankers.

 

Now, as CUNA and leagues seek legislation to help credit unions meet the needs of their members, we must overcome bank attacks again. The bankers are out to eliminate credit unions from the financial services industry and to add new taxes to 85 million Americans.

 

Individuals and lawmakers should tell the banks to "knock it off" and ask bank customers to question their banker's efforts to raise taxes on hard working American families.

 

Educate yourself about what's happening, and TAKE ACTION.

Event information will be available soon.

Risk Management - Account Fraud (Mini-Seminar)

 

Join us for an informative Mini-Seminar on Risk Management - Account Fraud by a CUNA Mutual Group Representative.

 

Event: 

Thursday, March 15

2:00 pm - Mini-Seminar; 5:45 pm - Cocktails; 6:30 pm - Dinner

Sheraton Hotel, Brookfield

ImageCompliance Quiz

 

Can you photocopy a member’s driver’s license? Can you pay a post-dated check prior to its date? This program will quiz the audience on a dozen compliance issues to help the credit union determine whether it is on the right track. Join your hosts Oshkosh Truck CU & Oshkosh Telco CU for this informative Compliance presentation by League Attorney Paul Guttormsson!

 

Event:
 

Monday, April 23, 2007
5:30 pm - Cocktails; 6:00 pm - Dinner
Fratello's, Oshkosh


 

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Thirtysomething...and Before

 

Join us for Thirtysomething...and Before an entertaing presentation you won't want to miss! Speaker to be determined by the younger generation! See you there.

 

 Event:

Wednesday, May 16, 2007

Social - 6:00 pm; Dinner - 6:30 pm; meeting to follow

Baldo’s Mexican Restaurant, 3408 Douglas Ave., Racine

$15.00 per person

Celebration of The Credit Union Difference

 

Join us for a comminuty education event designed to celebrate the Credit Union Difference! Special presentation by a member of The League staff.

 

Event: 

Tuesday, October 10, 2006

6:30 pm

Holiday Inn, Fond du Lac

 

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CMN Night, Essay Awards

 

Join your host CU Members United United Corp. Federal CU for CMN Night and Essay Awards featuring speakers from CMN Family.

 

 Event:

Monday, April 23, 2007

5:30 pm - Networking; 6:00 pm - Dinner

The Wave, Appleton

 

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Money Smart Week Wisconsin Event

 

Avoid ID Theft Seminar - Spanish

Date: October 3-5, 2006
Organization: Heartland Credit Union & Centro Hispano
Address: 810 W Badger Road
City: Madison
State: WI
Zip: 53713
Type: OpenToPublic
Language: Spanish
Disability: Yes
Sponsor: Heartland Credit Union
Primary Contact: Jennifer Armaza-Meneses

Come to this free seminar to learn:
--How identity thieves get your personal information

--When you have to give out your Social Security number, and when you don’t

--How to minimize your risk of ID theft--online and offline

--How to protect yourself from phishing attacks

--Warning signs that you may be a victim of ID theft

--What to do if you’re a victim

Blackhawk Community Credit Union Event Information

 

 

Money Scams: Identifying and Avoiding

Date: October 3, 2006
Time: 6:30 PM - 7:30 PM
Organization: Blackhawk Community Credit Union
Address: 2640 W. Court St.
City: Janesville
State: WI
Zip: 53548
Type: OpenToPublic
Event Audience: General
Language: English
Disability: Yes
Sponsor: Blackhawk Community Credit Union
Primary Contact: Frank Beres

Unison Credit Union Event Information

 

 

Estate Planning Seminar

Date: October 3, 2006
Time: 4:30 PM - 6:00 PM
Organization: Unison Credit Union
Address: 1616 Crooks Ave.
City: Kaukauna
State: WI
Zip: 54130
Type: OpenToPublic
Event Audience: General
Language: English
Disability: Yes
Sponsor: Unison Credit Union and the law offices of McCarty, Curry, Wydeven, Peeters and Haak, LLP
Primary Contact: Jeanette Legler

Credit Union One Credit Union Event Information

 

 

"Where Did My Money Go?"

Date: October 3, 2006
Time: 6:30 PM - 8:00 PM
Organization: Fond Du Lac Police Station
Address: 126 N. Main St.
City: Fond Du Lac
State: WI
Zip: 54935
Type: OpenToPublic
Language: English
Disability: Yes
Sponsor: Fond Du Lac Credit Union, Credit Union One Credit Union, St. Agnes Employees Credit Union, Fond Du Lac Postal Employees Credit Union, UW Extension, Fond Du Lac Police Department
Primary Contact: Lorri Heimbach

Presented by Michelle Tidemann of the UW Extension.
To reserve your seat, call 920-921-1123.

Miller Electric Credit Union Event Information

 

 

Dorm Night!

Date: October 3, 2006
Time: 7:00 PM - 8:30 PM
Organization: Miller Electric Credit Union
Address: 1235 W Spencer St
City: Appleton
State: WI
Zip: 54913
Type: OpenToPublic
Event Audience: Children & Parents
Young Adults
Language: English
Disability: Yes
Sponsor: Miller Electric Credit Union
Primary Contact: Abby Ames

Legislative Nights Provide Chapters with Opportunities to Meet Lawmakers

This fall, chapters are hosting Legislative Nights to give members a chance to meet and talk with lawmakers.

 

Not only will these events give representatives of the movement a chance to solidify relationships with legislators, says League Government Affairs Specialist Lindsay Hoglund, it will also allow lawmakers to learn more about the great initiatives credit unions are undertaking on behalf of their members.

 

Hoglund notes that already lawmakers have expressed regard for credit unions' commitment to providing their members with services that answer community needs.

 

"It's so refreshing to see credit unions' people-helping-people philosophy in action," says Sen. Jeff Plale (D-South Milwaukee). REAL Solutions - a League initiative that helps credit unions reach out to new and unbanked segments of their communities - he finds particularly inspiring.

 

Legislative nights also allow chapters to recognize lawmakers who have been life-long credit union friends - and in many cases - members.

 

So far, chapters have held eight Legislative Nights with 32 lawmakers in attendance.

House and Senate Leadership Announced

Wisconsin's House of Representatives recently announced its leadership for the 2006-2007 legislative session. New Assembly leadership includes:

 

                                       Republicans           Democrats
Speaker                            Mike Huebsch
Speaker Pro Tempore        Mark Gottlieb

 

Leader                             Jeff Fitzgerald           Jim Kreuser
Assistant Leader               Mark Gundrum          Jon Richards
Caucus Chairperson          Mark Honadel            Tony Staskunas

 

And, last week Wisconsin's Senate announced its leadership, which includes:

                                       Democrats            Republicans

President                          Fred Risser
President Pro Tempore      Tim Carpenter

 

Leader                             Judy Robson            Scott Fitzgerald
Assistant Leader               Dave Hansen            Joe Leibham
Caucus Chair                    Mark Miller               Glenn Grothman

Revised Dues Structure Met with Approval at Town Hall Meetings

Last week, The League held Town Hall Meetings in locations across the state to discuss the change in The League's dues structure recommended by the Dues Task Force and approved by The League's Board of Directors. The proposal aims to create a dues formula that preserves The League as a strong source of support for Wisconsin credit unions while maintaining a high level of credit union unity.

 

The proposed structure will include:

 

  • No increases in dues for credit unions under $3 million in assets.
  • A modest increase in dues for credit unions between $3 million and $300 million in assets.
  • Increase in dues for credit unions with assets over $300 million.
  • A change in League policy that would allow dues relief for small credit unions in need of it.
  • Creation of a single fund, possibly operating within a state Foundation, that would provide funds for credit union development, education, government affairs involvement and other opportunities.
  • An urging that The League's Board continue to be fiscally responsible.

 

During the meetings, the proposal was well-received by those who attended.

 

"The proposal represents a much-needed change in the way things are done," says Sheboygan Area Credit Union's Mike Mallow. "The League has supported us for many years with excellent service across the board - from operations to advocacy." In order for that to continue, Mallow reasons, credit unions must - in turn - support The League. He thinks the proposed dues structure will do that.

 

"Our number one goal is continuing to provide the great service credit unions depend on us for," says League President & CEO Brett Thompson. "We feel this proposal will go a long way towards making sure we have the resources to accomplish that."

 

The revised dues structure will be presented to the membership at the Annual Meeting in May for a vote by registered delegates.

 

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 League President &CEO Brett Thompson briefs attendees on the new dues schedule - which will be presented to the membership at The League's Annual Meeting.

 

 

 

 


 

Take Advantage of CUNA’s Small Credit Union Discounts and Scholarships

Feel like your budget hinders you from getting the education you deserve, attending the conferences you’d like or buying the products you need? Browse these discounts and opportunities for small credit unions to see how you can benefit:

 

  • Free registration at America’s Credit Union Conference & Expo. This three-day conference - taking place June 3-6 in Las Vegas - offers credit unions $35 million and under in assets a free registration for a registering credit union’s first attendee and a $400 registration for each additional attendee. The regular registration rate is $795. Download a registration form today!

 

  • Discounted PCA Checkup Report. Pay only $25 dollars for this customized planning tool - which uses a series of tables and graphs to summarize the interactions between earnings, asset growth and net worth over time at your credit union - if you are a credit union with $35 or less in assets. Order your copy by contacting Sara Kegel at (800) 356-9655, Ext. 4146.

 

  • CPDOnline scholarship. Staff and volunteers from credit unions with $20 million in assets and under can be awarded up to $3,000 to be put towards CPDOnline courses. Fill out the online application form, and you could gain access to more than 160 online courses for your staff and managers to use for an entire year. In addition, credit unions with $10 million or less in assets are eligible for a $50 discount per CPD Webinar. E-mail elearning@cuna.com for discount information.

 

  • Discounted Member Benefits Report. Cut $100 dollars from the cost of this invaluable customized report - which informs your members how much money your credit union puts in members' pockets - if you are a credit union with $35 or less in assets. Contact Sara Kegel at (800) 356-9655, Ext. 4146 to sign up for your copy.

 

  • CUNA Council scholarships. Credit unions with assets of $50 million and less are eligible to win one of six CUNA Council scholarships. Each Council - including the CFO, HR Training & Development, Lending, Marketing & Business Development, Operations Sales & Service and Technology Councils - has its own scholarship award. Winners can put their winnings toward Council dues, Council conferences and CPD school tuition. Learn more about each of the scholarship opportunities today.

 

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League Online Store Offers Convenience and Ease for Your Credit Union's Needs

Get League forms, shared-cost marketing materials and employee handbooks at The League's Online Store, where you have quick and easy access to tools that can grow your business. At The League's Online Store, enjoy:

  • Convenient form options. Choose from paper, electronic or single use forms - whichever works best for you. The League's Online Store is open 24 hours a day, seven days a week, with downloadable forms in PDF format to make things easier on you. There's no need to order quantities of forms you'll never use by opting for the single use forms.

 

  • Customizable campaigns. There are many customizable and cost-effective marketing campaigns at the Online Store covering topics like auto loans, checking accounts, credit card loans, student loans and phishing products. At The League's Online Store, shared-cost marketing gives you professional marketing materials at a price much less than a traditional marketing campaign. 

 

  • Compliant and professional materials. Language in materials and handbooks are customized to your credit union's policies. All polices in the customized employee handbook comply with Federal and Wisconsin Law. It can also be annually updated and checked for compliance. You can quickly and easily have an employee handbook that's customized in either electronic or hard copy.


You are in control - get the forms you need, the way you need them. Visit The League's Online Store, or for more information, contact Tara DuBord, Product and Service Manager - W.C.U.L. Services Corp. at (800) 242-0833, Ext. 3231.

Chain of Hearts Campaign Kicks Off in February

During the month of February, credit unions around the state are asking their members to help sick and injured children in Wisconsin by raising money for the Children's Miracle Network (CMN). Paper links - sold as part of the Chain of Hearts campaign - are available at lobby counters and drive-ups and display the names of members' loved ones.

 

To promote the Chain of Hearts campaign, The League has sent out a Public Service Announcement (PSA) featuring Marie Osmond, co-founder of CMN, to all Wisconsin radio stations.

 

If your credit union is participating in the Chain of Hearts campaign but your local radio station isn't playing the PSA, please contact Chad Helminak at (800) 242-0833 to receive a copy of the PSA. A representative from your credit union can hand deliver the PSA to the station and encourage them to help raise money for the sick children of Wisconsin.

 

Participating credit unions are encouraged to send pictures of their Chain of Hearts campaign to Chad Helminak.

 

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As part of the Chain of Hearts campaign, some credit unions, such as Central City Credit Union (right) and Members' Advantage Credit Union (left), are selling stuffed animals, which are given to children in the hospitals who are going through difficult medical procedures.


Grow your membership by offering financial education


At Great Wisconsin Credit Union, our financial education goals are to give back to the community as part of our social mission. And, attract new members through educational outreach by explaining the benefits and advantages a credit union can offer.  

 

To accomplish these goals at the credit union, we have:

 

  • Staff outreach. We dedicate staff to go out into the community to network and take advantage of financial education opportunities. Our hope is that when audience members face a financial need, there's a much greater likelihood that they will turn to our credit union.

 

  • Built and maintained relationships with community organizations such as the Dane County Housing Authority, YWCA, the Financial Education Center and numerous area schools.  These relationships provide annual opportunities to explain credit unions, our services and how consumers can benefit. Also each fall, we send a back-to-school letter or call teachers and organizations to thank them for last year's speaking opportunity and update them on any new programs we have created. 

 

  • Increased community visibility. At Great Wisconsin CU, we have been able to obtain publicity through local media and we were featured in a morning television segment on teaching kids about money. Staff have also been interviewed for several feature articles. We saw an increase in calls and emails for public appearances and information following our publicity efforts.  

 

  • Maximized the value of speaking opportunities. This spring, a member called looking for a way to count coins for an elementary school fundraiser, so we offered to come in to speak to the students about money. Also, we are expanding our efforts when members of our staff visit their children's classroom for "Child of the Week."  We enhance the experience by talking about saving money - not just their parent's job.

 

  • Made presentations simple, interactive, fun and memorable.  We ask lots of questions and give rewards for right answers. The strategy includes gaining insights into participant's basic financial behavior. This market research helps us create new products and services to fulfill financial service needs.

 

We're happy with our financial education successes. We've far exceeded goals this year by conducting 42 financial literacy presentations, presented by seven staff members, to more than 650 people as of the end of June. Now we're looking forward to the fall and the new opportunities that will unfold.

 

For more information on financial education, visit The League's financial education homepage. Special thanks to Amy Crowe at Great Wisconsin CU for sharing these helpful financial education tips. If you missed it, take a look at last week's guest column by Amy featuring even more ideas.

Credit Unions Recognized for Financial Education Efforts

Wisconsin credit unions are reaping the benefits of their financial education efforts through wide-spread recognition from the state’s political leaders. In March alone:

 

  • Several Wisconsin credit unions and organizations supported by credit unions were named to be recipients of the Governor’s Award for Financial Literacy for 2007. Governor Doyle’s Council on Financial Literacy (GCFL) recognized award-winners for excellence in promoting financial literacy among Wisconsin citizens. “Their hard work to promote financial education has made Wisconsin the recognized national leader when it comes to financial literacy,” says Governor Doyle.

 

  • Governor Doyle showed support of credit unions’ National Credit Union Youth Week by signing Wisconsin's Youth Week Proclamation. Credit Union Youth Week - which takes place April 22-28 - is a time when credit unions across the nation can educate youth about the financial benefits of credit union membership and convince them to begin saving for a financially solvent future.

 

  • Credit unions are being asked to provide input by the Financial Literacy and Education Commission on their financial education efforts. Credit unions responding to this inquiry may have an opportunity to “effect national solutions for scaling financial literacy nationwide” with regard to kindergarten through postsecondary students, according to Wisconsin Director of the Office of Financial Literacy Dave Mancl. The deadline to submit comments on youth financial education is April 12th.

If You Teach Young People About Personal Finance, Track It!

You can help strengthen the credit union movement by tracking data related to your credit union's personal finance presentations to youth.  Just enter your information at www.nyib.org.

 

The site, maintained by the National Youth Involvement Board (NYIB) - a coalition of credit union people nationwide who are working to improve credit unions' outreach to youth - asks you to log in and create a personal tracking page, where you can quickly add new numbers to the system every time you teach personal finance to another group of young members, a local classroom or youth group.

 

Results from across the U.S. are shared with CUNA Political Affairs staff, NCUA, and the Department of the Treasury's Office of Financial Education, among others.

 

"By tracking your data, you demonstrate powerfully the 'Credit Union Difference' - that your credit union returns the benefit of your income tax exemption to members and your community," says League President & CEO Brett Thompson. "We need data to illustrate how not-for-profit credit unions deliver value that is qualitatively different than other financial institutions."

 

The site allows users to run reports by state or nationally to show how many young people are being taught. During 2006, for example, seven individuals from Wisconsin credit unions reached 2,624 youth with their presentations.

 

"That number is a gross under-representation of how many young people are receiving exposure to money matters through credit unions," Thompson says.

 

He says Wisconsin credit unions are national leaders through their youth financial education activities. They operate more than 60 student-run branches in schools where many play a role in classroom teaching, while other credit unions reach out to younger members or student groups in the community to teach financial topics.

 

"I urge everyone who has youth outreach to create an account on this site and start reporting so we can do a better job touting the success of credit unions statewide in youth financial education," he says.

 

NYIB is a volunteer network of credit union educators, marketers and other advocates for youth financial education and credit union services for young members. By joining the network - at no cost to members - credit union professionals have access to the classroom reporting feature, an annual conference on serving youth held every August, a listserv to get and share ideas on serving youth, and online document and resource sharing.

 

Contact Chris Olson, Director of Communications, at (800) 242-0833, Ext 3167, for more information.

New Service Offers Financial Options to Hispanic Community

Did you know that the amount of funds transferred to Mexico is the second largest in the world and most of those are from the U.S.? Corporate Central Credit Union (CCCU) did. By creating a program to assist these transfers, CCCU realized that it was in a prime position to help other credit unions attract new members and serve the needs of existing members.

 

The program, called Directo a Mexico, provides an efficient, secure and low-cost method to send these transactions to Mexico by using COACH II - a transferring tool that allows credit unions to achieve more efficient processing through speedy online delivery. It’s the most convenient way to transfer money to Mexico and payments are less expensive and more secure than wire transfers for sending money between the United States and Mexico.

 

First Service Credit Union of Milwaukee has already begun to offer Directo a Mexico to its members.

 

“We have successfully launched the program with bilingual staff ready,” says John Udvare, President of First Service Credit Union. “We are continuing to work at getting the message out to our members about this affordable way to transfer money to loved ones.”

 

With Directo a Mexico, a member of First Service can have money transferred from his or her account to one of the participating financial institutions through the U.S. Federal Reserve Bank and on to Mexico, where Banco de Mexico delivers the money to all the beneficiaries’ financial institutions.

 

A First Service member’s family in Mexico receives more pesos for every dollar sent since Directo a Mexico offers the best exchange rate in the market. First Service members also have the certainty that their money will arrive in the account they have chosen.

 

“It’s important for us to reach out to new segments of the community,” says Udvare. “Most fund transfers are done via money transfer organizations. This is a great program because it creates an opportunity for credit unions to reach out to Hispanic members and offer a service directed toward their needs.”

 

Reaching out to the community is exactly what REAL Solutions is all about. Through programs and service, this statewide initiative helps Wisconsin communities build strong financial futures.

 

Join First Service Credit Union and many others in serving their communities and join REAL Solutions initiative today by contacting League Vice President of Credit Union Development Jim Drogue at (800) 242-0833, Ext. 3165.

 

Low-Income Individuals and Families Become Homeowners - Thanks to Wisconsin Credit Unions

Five Wisconsin credit unions are helping modest means buyers who might otherwise be frozen out of the high-cost real estate market achieve their dreams of homeownership. Fox Communities Credit Union in Appleton, Landmark Credit Union in New Berlin, Royal Credit Union in Eau Claire, UW Credit Union in Madison and WESTconsin Credit Union in Menomonie are all reducing monthly payments that first-time homeowners pay as part of CUNA’s nationwide Home Loan Payment Reduction Program (HLPR).

 

How it works
Participating credit unions offer three-year adjustable-rate mortgages priced at a rate one percent below the national average to first-time, low-income buyers. The rate is fixed for the first three years. After three years, it adjusts annually to market rates with rate adjustments capped at one percent per year and five percent over the life of the loan.

 

To qualify, a borrower's household income must be 100 percent or less of the area median income, except for certain "high-cost" areas.

 

"This is not a liability or a hassle," says Fox Communities Credit Union's Lisha Vanevenhoven. "What this program does is allow us to make good loans to good people." The credit union committed $2.5 million in loans to the program.

 

What credit unions stand to gain
Credit unions benefit in more ways than one when working with the HLPR program.

 

"This program has sent a lot of new members through our door," says Royal Credit Union's Linda Marincel. Area realtors - who became aware of the program - started referring their clients to the credit union. And, in a little more than three months, the entire $5.3 million in loans the credit union had allotted was gone - leaving Royal Credit Union with increased loan volume and a boost in membership.

 

Pat Ransom of Landmark Credit Union notes that in addition to giving her credit union the opportunity to reach out to new members, participating in the program also increases the satisfaction of current members. "Members appreciate that, because of our credit union, they are able to get more house for their dollar," she says. In addition, Ransom notes the HLPR mortgage program also gives Landmark employees myriad chances to tout their other mortgage products. The credit union put $10 million in loans aside for the program.

 

Like Landmark, Vanevenhoven noticed cross-selling opportunities for Fox Communities Credit Union. In fact, after the credit union closed all its allotted HLPR loans, employees fashioned a similar program to keep serving the new members their mortgage promotions had drummed up.

 

Most importantly, CUNA's HLPR program allows credit unions to give the benefit of their tax exempt status back to their members. "This is a wonderful opportunity for credit unions to demonstrate our 'people-helping-people' philosophy of service," says League President & CEO Brett Thomspon.

Don't Miss the REAL Solutions Conference

Save the date for the REAL Solutions Conference, Oct. 25. Join us at the Kalahari Resort and Convention Center in Wisconsin Dells. This full-day conference is packed with information about how you can participate in The League's REAL Solutions program - an initiative to help credit unions develop and improve services to reach out to new markets and the unbanked population of our state. During the conference, learn how to:

 

  • Provide cost-effective alternatives to predatory lenders.
  • Help low-income tax filers get the most of their tax refund.
  • Reach out and serve minorities in your credit union's community.
  • Educate young Americans about personal finance.

 

Don't miss this information-packed event. Watch for more details on our website in the coming months.

Watch the Miracle Celebration, Airing June 2-4

Don't miss this year's Miracle Celebration, the national television broadcast for the Children's Miracle Network (CMN) airing locally June 2-4.

 

The show explains how donations to CMN help needy children and showcases sponsors who help the charity, including Wisconsin credit unions.

 

Watch for Jalayne Lanphear of Members Advantage Credit Union, who will appear on the broadcast as a representative for Wisconsin credit unions. Local affiliated channels include Eau Claire WQOW - Channel 18 and Wausau WAOW - Channel 9.

 

The celebration will also be available on Milwaukee Cable - Channel 95. Check your local listings for broadcast times.

Credit unions use innovative ideas to educate during Money Smart Week


Money Smart Week Wisconsin is coming up Oct. 7-13 and credit unions around the state have the week packed full of financial education events. Last year over 50 credit unions around the state took part, and this year even more are getting involved with innovative ways to educate their communities. For example:

  • The Madison Chapter of Credit Unions will host six sessions in one location ranging in topics from student loans to first time home buying to starting a small business.

  • N.E.W. Credit Union, Oconto Falls, will be hosting "Fall into Savings" at the student CU at Oconto Falls High School. The student credit union will be open all day and credit union representatives will be present. Students will have the opportunity to learn more about credit unions and the benefits of saving and setting financial goals. They will also be encouraged to sign up to win several prizes.

  • UnitedOne CU, Manitowoc, is holding three of close to 100 events planned for their area. They will host three theme nights: cars, homes and charitable giving. The credit union is also planning an elementary school challenge that will have different grades compete against each other by answering money related questions. The competition will end with and ice cream sundae party.

  • Blackhawk Community CU, Janesville, is holding seminars ranging from online banking to understanding credit.

  • MCU Financial Center CU, Racine, is planning a free community shred-a-thon to help prevent identity theft.

  • Fox Communities CU, located throughout the Fox Cities area, will also be holding a 'Shred Fest' at its many locations.

  • Community First CU, Appleton, is offering free credit reports that will allow anyone to get a free copy and interpretation of their personal credit report.

  • Dane County CU will hold a family budgeting pizza party. Babysitting for the kids will be provided.

Money Smart Week is just around the corner, so make sure your credit union has posted its events on the Money Smart Week Wisconsin page and check out what other credit unions around the state are planning!

Credit unions reached out to kids during Money Smart Week

 

Several credit unions around the state reached out to kids during Money Smart Week by providing activities that entertained youth while educating them. Here are some of the events from around the state:

 

  • Fond du Lac CU taught savings and money management at its many children’s sessions. The sessions included a “Millionaires in the Making” night, which gave tips on how to make a million dollars, and a “Penny the Pig” night, which taught kids how to save and helped them begin saving by giving them a piggy bank. During the week’s activities, Fond du Lac’s Money Smart Week Kid for 2007, Amanda Marsh, was also presented with a $1,000 check by Wisconsin State Treasurer Dawn Marie Sass. Marsh won the Money Smart Kid title when she wrote the winning essay about the topic, “Why is money important to you and how do you practice good money management skills in your day to day life?”

 

  • UnitedOne CU hosted an elementary school challenge that had different grades competing against each other by answering money related questions. Winners from each match up won an ice cream sundae party at the end of the week.

 

  • UnitedOne CU also hosted a “Money Smart Deal or No Deal” game at a local middle school. During that event, students were awarded $20 for every question they answered correctly and then were asked whether or not they wanted to continue with the game or keep the money. Students were given the questions a week ahead of time and were able to look for the answers on Googolplex, a web-based learning tool for students hosted by CUNA. The students were then allowed to bring the answers to the game, but could only refer to them once during the competition. One student won $100 by answering all her questions correctly. Altogether, UnitedOne awarded $400 total to student winners who donated one-quarter of their winnings to local charities. About 30 to 40 students watched the after school competition, with 10 students participating.

 

  • WESTconsin CU’s Hudson branch held a Money Smart Kid’s Day. Anyone under 18 who opened a new account or deposited money received a coupon stating that the credit union would match a $5 deposit made before the end of December. Children in attendance also received gift bags and had a chance at winning several raffle prizes. Parents were also given tips about teaching money management, as well as a list of children’s financial education books located at the local library. Jim Wookey, the Hudson Branch Manager, made popcorn for kids attending the event.

 

  • Kohler CU visited local schools during Money Smart Week. Mike Schmidt, Vice President of Business Development, Community and Government Relations at Kohler CU, spoke to 180 students ranging from elementary to high school students. Schmidt spoke to elementary students about money saving and spoke to high school students about payday loans and credit and debit cards.

 

  • Capital CU held a Critters Kiddie Karnival: A Road to Riches Adventure for kids, ages 12 and younger, and their parents. The kids attending the event played fun games that helped them learn about smart ways to earn, save and manage their money. Attendees stopped at game stations as they followed along the "Road to Riches" giant game board and "earned" money along the way. Each child received a stamp card to fill up and use in exchange for prizes and/or for money to deposit into a Capital's Critters savings account.  Kids who completed their stamp card were entered in a drawing for a $50 U.S. Savings Bond. 

 

Check out a slideshow of some of the week’s activities. If you have photos to share or would like to share your Money Smart Week results with The League, contact Melissa Wittig, Member Communication Specialist, at (800) 242-0833, Ext. 3168.

More Than 250 Activists Helped Make 2007's State GAC a Success!

Thanks to all who attended this year's Government Affairs Conference (GAC) and helped credit unions make another strong showing at the Capitol. This year's conference took place January 23 and 24. Highlights included:

 

  • 1 with The League" efforts noted at the state level. At the end of 2006, 450 Activists have been enrolled to protect and grow the credit union movement in Wisconsin. Wisconsin credit unions have the seventh largest PAC out of 450 in Wisconsin and are within a few thousand dollars of the other largest PACs.

 

  • Legislators offer insight on political climate. Assembly Speaker Mike Huebsch (R-West Salem), Senate Majority Leader Judy Robson (D-Beloit), Senate Majority Leader Scott Fitzgerald (R-Juneau), Assembly Minority Leader Jim Kruser (D-Kenosha), Senator and Financial Institutions Committee Chair Jim Sullivan (D-Wauwatosa), Assembly Financial Institution Chair Scott Newcomer (R-Hartland), Director of the Office of Credit Unions Sue Cowan and Secretary of the Department of Financial Institutions Lorrie Keating Heinemann all shared their insight on 2006 and what to expect from the Capitol in the months and years to come. Lawmakers urged Activists to keep them informed on credit union issues and events as they arise.

 

  • Lawmakers stressed the importance of Activists' role. In 2006, The League Government Affairs Department monitored 2,239 bills, resolutions and administrative rules and continued to effectively communicate with lawmakers on behalf of our members. However, lawmakers pointed out that while "League lobbyists do a good job of informing us on credit union related issues, hearing about those issues from our constituents means much more to us."

 

  • Involvement in local politics crucial. Susan Newton, Executive Director for AACUL, discussed the importance of credit unions working with state and local legislators, noting that many national legislators started out in local office. Newton also added that "it's not about being republican or democrat, it's about if a politician will go to bat for credit unions."

 

  • Nearly every lawmaker's office was visited. One-on-one visits revealed that lawmakers vary in their understanding of credit union issues. Several lawmakers already understood the value of credit unions and shared stories of how credit unions have helped them or someone they know. Others appreciated meeting with their constituents for the first time and learning about the "Credit Union Difference." Along with the visits during the day, over 50 lawmakers attended the legislative reception.

 

  • REAL Solutions message hand-delivered to lawmakers. Activists also explained the impact of REAL Solutions on Wisconsin consumers and provided lawmakers with REAL Solutions DVDs and brochures. Lawmakers congratulated credit unions for their REAL Solutions initiatives and were very interested in hearing about programs such as payday lending alternatives and in-school branches.

 

For more information and pictures about the event, click here to check out The League's latest Capitol Eyes publication.

New Dates Set for Free Activist Trainings

More dates have been set for free Activist trainings in the fall. Taking place on November 7, 8 and 9 in Wausau, Kimberly and Pewaukee respectively, the full-day trainings will focus on communicating and building relationships with lawmakers, locally elected officials, the media and other community leaders.

 

During the training, attendees will take part in interactive role-playing sessions to learn how to respond quickly and accurately to the questions of lawmakers, the media and others. In addition, participants will also learn the four "core messages" - concepts Activists should integrate into their communications to build strong pro-credit union allies in their communities and government.

 

The trainings will follow the same agenda as the trainings held by The League in August. These new sessions allow Activists who missed the prior sessions, as well as the more than 50 Activists who joined our Activist program in recent weeks, the opportunity to focus on and practice their vote as communicators. Anyone is welcome to attend; registration is required, and all participants officially join The League's Activist program.

 

Register by contacting Judy Phillips at (800) 242-0833, Ext. 3114.

League’s mini-hike to the State Capitol informed lawmakers about the brass|STUDENT PROGRAM


League staff, Activists and brass founder Bryan Sims informed lawmakers about the brass|STUDENT PROGRAM and illustrated its importance during The League’s mini-hike to the State Capitol in Madison Nov. 1.

 

Activists visited nearly 40 legislative offices to explain the program and Sims addressed all Activists and a group of legislative staff to talk about the dire need for youth financial literacy. He noted a recent survey in which parents claimed they were more concerned about their teen learning money management than about the threat of drugs or alcohol or associating with “the wrong crowd.”

 

Following the mini-hike, Sims visited schools in Madison and Milwaukee to share his story, get feedback on the program and inspire students to learn more about responsible money management. Channel 15 in Madison (the NBC affiliate) attended the session at LaFollette High School in Madison and Bryan and League representatives later spoke to the Wisconsin State Journal.

 

The brass|STUDENT PROGRAM is a personal finance initiative that promotes responsible financial management to high school students through a free lifestyle money magazine, produced for young adults by young adults. All 606 of Wisconsin’s public high schools will receive the quarterly brass|MAGAZINE Student Edition at no cost thanks to Wisconsin credit unions’ sponsorship of the program.

 

Check out a slideshow of the event.

League recognizes years of service in CU movement

 

Join The League in honoring those who have made credit unions a part of their life's work - literally. The following staff and volunteers have been a part of the credit union movement for at least 25 years and continue to give their time, dedication and expertise toward building the credit unions of today and tomorrow. These hard-working individuals include:

 

  • Bob Dorn, Prospera CU – 26 Years

 

  • Jean Holewinski, Prospera CU – 26 Years

 

  • Bonnie Timm, RiverWood-Maritime CU – 31 years

 

  • Ken Eiden, Prospera CU – 33 Years

 

Have we missed anyone? Let us know about your volunteers or staff who have served credit unions faithfully for 25 years or more. Contact Melissa Wittig at (800) 242-0833, Ext. 3168.

Debt Cancellation Protection offers benefits for credit unions and members

 

CU Choice Lending Protection, a debt cancellation product from CUNA Mutual Group, offers a flexible approach when it comes to protecting both members and credit unions from loan delinquency due to unforeseen events. In addition to flexibility, the product itself is subject to fewer regulatory requirements. Best of all, debt cancellation protection allows credit unions greater latitude in their ability to better serve members, while at the same time generating non-interest income for their institution.

 

Debt cancellation offers pricing and protection levels that credit unions have said are becoming increasingly more attractive to members. Debt cancellation is not a form of insurance, but a two-party loan agreement between the credit union and its members. Members who choose debt cancellation pay a fee that protects their loan payments in the event death, disability, involuntary unemployment, family leave, terminal illness, or hospitalization occurs. Members are able to choose the protection that best suits their needs and, with shorter benefit duration periods, plans that can lower the cost of protection.

 

Traditional payment protection available through CUNA Mutual has helped credit unions set themselves apart from the competition and given them a market advantage in serving members. Debt cancellation can help to meet some needs that your members may be requesting, such as involuntary unemployment helping credit unions distinguish themselves from the competition in terms of both service levels and commitment to members.

 

For more information visit www.cunamutual.com or contact Tara Du Bord, Product and Service Manager - W.C.U.L. Services Corp. at (262) 549-0200, Ext. 3231.

 

© CUNA Mutual Group 2007.  Used with permission.

Deb Johnson, Racine Municipal Employees CU, named as representative for CMN Celebration

 

Deb Johnson, Racine Municipal Employees Credit Union, has been announced as the Wisconsin credit union representative for the Children’s Miracle Network Celebration March 13-15 at Disney World in Orlando, Fla.

 

Deb was randomly selected from a number of outstanding CMN fundraisers whose names were submitted to The League by Wisconsin CMN hospitals. Deb is the Gateway chapter CMN liaison and has been committed to her work with CMN events -- so much that she has gotten her family involved.

 

At her chapter’s season opener, she served as one of the committee members for the event and was instrumental in organizing the event, garnering the prizes for participants and selling CMN merchandise. She was also the top fundraiser for the event, followed by her daughter who came in as the second highest fundraiser of the event.

TransUnion – Helping you, help your members

Today’s credit union members, like most consumers, are interested in lower loan rates, higher yielding deposit products, faster approvals and limited service charges. To better help credit unions continue meeting their members’ expectations, TransUnion has rolled out several new solutions over the past 12 months to help credit unions better understand their customer base, qualify existing or new members for new products and make better business decisions.

 

Manage your portfolio for better service
Express Portfolio Review helps credit unions better understand how their customer’s behavior changes over time, giving them the opportunity to measure the fluctuating level of risk within their portfolios. Using that information, credit unions can be more proactive in managing accounts and ultimately, make better decisions with results such as increasing their overall rate of return.

 

The service works by selecting up to two of the five industry-proven credit risk scores, including VantageScore, which leverages the industry’s collective expertise on credit data, credit risk modeling and analytics to provide consumers and businesses a consistent, easy to understand credit score. Credit unions can run weekly, monthly, quarterly or ad hoc queries to determine how the aggregate portfolio scores change over time and monitor individual accounts.

 

Query results are delivered through TransUnion Desktop, TransUnion’s Internet channel within 48 hours. The insight allows them to better serve their members while helping to increase profitability at each of the following levels:

• Member account management – make timely, sound decisions about credit limits, interest rates and payment terms based on current changes to an individual accountholder’s credit file.

• Portfolio management – stay on top of changes in a portfolio’s overall level of risk to make better credit policy decisions.

 

• Portfolio valuation – assess the performance and value of existing portfolios to help prevent losses and make better purchase decisions.

 

Acquire and retain members
TransUnion’s Express Decisioning Service allows credit unions to offer new/existing members products and services that should be of interest to them. Express Decisioning allows credit unions to qualify new or existing members for pre-selected products or services at the point of sale and offer them relevant targeted services accordingly. Express Decisioning applies preconfigured criteria to credit data to allow credit unions to make instant objective decisions earlier in the application process.

 

TransUnion also recently introduced L2C’s Link2Credit Tin File Model to help credit unions expand their customer base into underserved markets by qualifying more prospects and increasing acceptance rates. Link2Credit leverages alternative data including payday loan information, rental payment histories, debit data and cellular payment data. With Link2Credit, credit unions can better assess the creditworthiness of previously unscoreable consumers by potentially increasing their hit rates and approvals. The model predicts the likelihood of a consumer becoming 90 days or more delinquent, including charge-off, within a 12-month period.

 

Data at the core
In addition to its new service offerings, TransUnion can leverage consumer credit data to help credit unions build and grow profitable relationships with their members by creating an automated, step-by-step decisoning process. Credit unions can decide which credit, identity management and compliance criteria are important, how to evaluate them and what offer to make for a given transaction. Credit unions can then make credit offers, verify applicant identity against multi-source databases and assist their compliance efforts by screening their applicant names against known criminal databases. If a credit application is flagged for possible identity fraud, for example, the system will be prompted to take additional steps to confirm the applicant’s identity.

 

Helping you, help your members
A credit union’s success is dependent on attracting new members, growing its current portfolio and optimizing collections. With additional resources and the introduction of new solutions, TransUnion is here to partner with you to “help you, help your members” by better understanding your membership base and determining the right markets to strengthen your foundation.

 

Contributed by TransUnion

 

For more information, contact Tara Du Bord, Product and Service Manager - W.C.U.L. Services Corp., at (800) 242-0833, Ext. 3231.

More Wisconsin credit unions offer Get Checking program as a REAL Solution


More than 30 Wisconsin credit unions are now offering their members a REAL Solution through the 'Get Checking' program, according to the Get Checking website. The program allows members to acquire checking account privileges when they would otherwise be unable to obtain an account. 

 

The innovative ‘Get Checking’ program - offered in partnership with educators from UW-Extension, Consumer Credit Counseling Services or FISC - teaches basic checking account skills to people who are new to checking or have been denied account privileges due to problems with prior accounts. The program teaches account management skills and helps users determine the right account for them, helping them become a successful checking account user. 

 

Upon completion of the course, participants receive a certificate that participating financial institutions like credit unions honor allowing them to open a checking account. Some credit unions also go the extra mile and reimburse the cost of the class once participants sign up for a new account. 

 

To learn more about the program or to learn how you can get involved, visit www.getchecking.org.

Often times, people don't plan to fail, they fail to plan

 

Give members the opportunity to plan for their future, achieve their dreams, and protect themselves and their families from unforeseen events with CUNA Mutual Group's Credit Life and Disability Insurance.

 

These insurance plans provide loan-specific coverage to a wide range of members with the fewest possible eligibility and enrollment requirements. 

 

MEMBER'S CHOICE Credit Life is a voluntary group coverage that reduces or pays off a member's loan balance, up to the policy maximum, if the borrower or covered joint borrower dies. It helps members preserve life insurance benefits for living expenses, not for paying off debts.

 

MEMBER'S CHOICE Credit Disability is a voluntary group coverage that makes monthly loan payment up to the policy maximum should the member become totally disabled. Payments continue until the member is no longer totally disabled, dies or the loan is paid off.  

 

Advantages for your credit union:

 

  • Increases fee income opportunities and improves the credit union's bottom line 

 

  • Reduces delinquencies, charged-off loans, and collection costs

 

  • Strengthens member relationships 

 

  • Liberal eligibility criteria means most members qualify for protection

    

Advantages for your members:

 

  • Protects members and their families from financial burdens 

 

  • Protects the family's collateral and credit rating

 

  • Insurance premium is included in the loan payment

 

  • Simple, convenient enrollment...no health questions are asked 

 

To learn more contact Tara Du Bord, Product and Service Manager - W.C.U.L. Services Corp. at (800) 242-0833, Ext. 3231.

Credit unions can help the movement thrive by sharing their story, says League President & CEO


League President & CEO Brett Thompson shared his thoughts about the importance of sharing the credit union story during The League's 74th Annual Convention. Here's some of what he had to say:Image

 

As I prepared for the meeting this afternoon, I was reminded of a story that was intended for just a few, but it turned out to impact the lives of many. The story teller was a 46 year old Carnegie-Mellon professor of computer science, Randy Pausch, who gave a last lecture. Lecturers at top universities are given the assignment to talk about what wisdom they would share with the world if it was their last chance to do so. The lecture hall was filled to capacity, but Pausch got a standing ovation even before he started. You see this was truly his last lecture. Diagnosed with pancreatic cancer, Pausch had only 3 to 6 months to live.

 

So what wisdom does a man who’s about to die impart on his predominantly college student audience? He talked to the group about the importance of following your childhood dreams. Pausch’s childhood dreams included experiencing zero gravity, playing in the NFL, meeting Captain Kirk from Star Trek; and becoming an imagineer for Disney. All of these dreams – except playing in the NFL – he accomplished during his life. It had dawned on him how important these dreams were to him when he recognized that in every picture of him as a child he had a great big smile.

 

During the lecture, he wove in several stories about people who had a tremendous influence on his life-parents, teachers, friends. He offered other pearls of wisdom: be loyal; don’t give up; do the right thing; be prepared – wisdom that had even more meaning coming from a person who had only a limited time to live.

 

Professor Pausch’s story was filled with common sense wisdom that he intended for the benefit of his children. Except sitting in the back of that lecture hall was a reporter for the Wall Street Journal who wrote a story about it. And suddenly the whole world knew about him.

 

Who would have thought that concepts like “don’t give up” and “do the right thing” would have such a significant impact on people? But they have. Pausch’s story was very simple and the public loved it because the values held by the professor still matter in life.  I believe the real story about credit unions can still have an impact in the world, particularly in these difficult economic times.

 

I know you believe in the credit union story, but the problem is that we’re leaving the story to the banks to tell – and the story they tell is more like a Stephen King horror novel. Credit unions’ REAL Solutions initiative is all about explaining the credit union difference by telling people about how you serve your members.  The League constantly reminds our legislators and the media about the REAL story – that we saved our members $176 million dollars in 2007; that we have more than 80 in school branches operated by students; and that we offer the brass STUDENT magazine to every public school in the state.

 

But what’s your credit union’s story? It might be about making those loans to the workers who were just laid off at the plant. It might be about the time you volunteer at the school to teach personal finance. It might be about your service to elderly members. But you all do have a story to tell. It might sound insignificant but it is compelling and meaningful.

 

Our reluctance to tell our story will doom us. Our detractors can go everywhere we can go, and they have a lot more money to do it. They can offer more products and services; they can offer great service; they can offer creative, slick ad campaigns. But they can’t say its about people not profit; they can’t say it’s about member-owners; they can’t say it’s about lower cost payday loan alternatives; they can’t say it’s about not making the sub prime loans to begin with; and they can’t say it’s about having more branches in low income census tracts without a legal requirement to do so. You can say that.

 

I hope you know that the League will do everything we can to make you successful and to represent your interests in Washington and Madison. But ultimately you will decide whether credit unions will survive – because what will save credit unions is the REAL story about what you do, what you value and what you stand for. Your story is equally compelling in its simplicity. To paraphrase Nike’s slogan – Just tell it.

Remember when you could buy a new TV, bring it home and just plug it in?

 

Sure you only got three channels and they were a little fuzzy, but no hassle, just plug-and-play. Now don’t you wish an ATM could be that easy?

 

Diebold’s Integrated ATM solutions can take all or just some of the hassles out of your ATM. Diebold’s a la carte system allows you to pick and choose the level of ATM services you want Diebold to provide. You can choose from as little as just buying the machine to a plug-and-play system where Diebold manages almost the entire ATM. I bet they’ll even plug it in for you. Whether you need to purchase or lease a new ATM or you need assistance managing your existing ATM fleet, Diebold Integrated ATM solutions can help.

 

For more information contact Tara Du Bord, Product and Service Manager - W.C.U.L. Services Corp. at (800) 242-0833, Ext. 3231.

Payday loan alternatives lead to financially-successful members

First Community CU of Beloit, CoVantage CU, Brewery CU and Prospera CU know the advantages to offering members payday loan alternatives. The credit unions questioned pricing strategies behind payday loans and came up with great alternatives so members have a way to secure their financial futures, without creating more debt. Already, these four credit unions have saved their communities more than one million dollars in fees with their payday alternatives.

 

  • CoVantage CU, by offering their payday loan alternative to the community, has helped save more than $485,000. There is no minimum size loan and loans under $100 are not unusual. In a 12 month period ending Aug. 31, CoVantage did 4,756 loans under $1,000.

 

  • Brewery CU offers its members a Fast Cash loan that is provided as quickly as at a payday loan store, but for less, and it has saved its members more than $160,000 in fees. Members pay just $9.95 for every $100 borrowed and also receive some financial education and encouragement to get out of the high-cost borrowing cycle.

 

  • First Community CU of Beloit offers its members a Payday Stretch Loan to help members who have a short term need for cash. By offering this loan alternative, the credit union has saved the community more than $38,600.

 

  • Prospera CU, by offering the GoodMoney program to its members, has saved the community more than $362,000 in fees. Consumers are also referred to Financial Information and Service Center (FISC), a program of Goodwill NCW, upon their third visit.

 

Prospera's program got national attention recently when it was featured in the New York Times. Make sure your community is aware of your rationale for loan pricing so you can distinguish your loan as among the more attractive options and demonstrate your commitment to helping members avoid crippling debt.

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Who is eligible for a StretchPay loan?

 

StretchPay loans use minimal underwriting criteria. Members must be 18 years old, an established member of your credit union for at least 60 days, and not delinquent on existing loans or negative in any share account. Members must have verifiable income, not be in the process of filing for bankruptcy under any chapter of the bankruptcy codes, and must not have caused a loss to the credit union.

 

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How does StretchPay reduce risk?

 

A credit union offers a StretchPay loan with a CUSO called Credit Union Outreach Solutions Inc. (CUOSI). Each time your credit union collects an annual fee from a StretchPay borrower, you forward the fee to CUOSI. In turn, CUOSI will typically return 90% of the principal credit loss to your credit union in the event of a default. This way, you are able to offer members an alternative to expensive payday lenders without incurring the credit risk sometimes associated with small-dollar, minimally-underwritten loans.

 


More About StretchPay

What are the Joneses up to now? Is your credit union the “Joneses”? 

 

CUNA’s insightful reports on benefits, compensation and staffing will lead you through current trends in credit union compensation and benefits programs!

 

2007-2008 Staff Benefits Survey Report - This detailed analysis covers trends, costs and program structures in employee health care packages. Stock #27800

 

2008-2009 Complete Credit Union Staff Salary Survey Report - This report features compensation data for 89 full-time and eight part-time positions to keep your compensation program competitive. Stock #28104

 

2008-2009 CEO Total Compensation Survey Report - This report provides nationwide CEO compensation data for credit unions $100 million plus in assets to help you attract and/or retain top CEO talent. Stock #28109

 

2008-2009 Staffing & Space Survey Report - Receive insight into key staffing levels for business and consumer lending, collections, tellers and product and service areas. See expenditures associated with staffing, including hiring, training and transaction costs per service. Stock #28260

 

Order your reports online today at buy.cuna.org! To find the product, enter the stock number in the Product Finder.

 

To learn more contact Tara Du Bord, Product and Service Manager - W.C.U.L. Services Corp., at (800) 242-0833, Ext. 3231.

Free samples are great. You get to try something first and then decide if you want to buy it.

 

CUNA is giving out free samples of their Directors and Front Line newsletters - plus get a free gift with either subscription.

 

Use the links below to print off a few copies of either newsletters and let your directors and staff sample the August issues for free. If they like them, subscribe before September 15, 2008 and get a free Training on Demand gift.

 

Due Diligence Shines Spotlight on Volunteer Duties

 

Due diligence is part of each board’s responsibilities - identifying and agreeing on areas of risk to the credit union. Read more in the August issue of Credit Union Directors Newsletter.

 

  • Special offer! Subscribe to Credit Union Directors Newsletter (print or PDF format) and receive a free copy of 10 Ratios Every Volunteer Should Know through Training on Demand! Use promo code ELG108. Learn more...

 

Turn Member Problems Into Service Opportunities

 

Front-line employees literally are “on stage” and must be ready to deal with any situation that comes their way. Read more in the August issue of Credit Union Front Line Newsletter.

 

  • Special offer! Subscribe to Credit Union Front Line Newsletter (print or PDF format) and receive a free copy of Robbery: Actions, Reactions and Coping Skills through Training on Demand! Use promo code ELG208. Learn more...

 

With CUNA Training on Demand, you can download the training you need and watch it wherever and whenever it’s convenient for your board or staff. Hurry! Offers end September 15, 2008.

 

To learn more contact Tara Du Bord, Product and Service Manager - W.C.U.L. Services Corp., at (800) 242-0833, Ext. 3231.

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