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Credit Union News

July 23, 2012

Member addresses Congressmen on biz lending bill

A business borrower from Lakeview Credit Union addressed Wisconsin's U.S. Senators Ron Johnson and Herb Kohl individually in custom videos (this one to Senator Kohl) urging their vote to pass S. 2231, the Credit Union Small Business Jobs Bill (see top story).

Credit unions continue efforts to pass business lending bill
Credit unions are continuing their advocacy with Wisconsin's U.S. Senators Herb Kohl and Ron Johnson, sharing local stories that underscore the need for small business access to credit. Their effort, aimed at passing the federal Credit Union Small Business Jobs Bill, would increase the arbitrary cap on credit unions' member business lending. The measure would extend $453 million of new credit to Wisconsin businesses and 4,920 jobs in the first year alone at no cost to taxpayers. FULL STORY

League meets with new leaders of state committee overseeing CUs
League staff will visit the newly appointed Chair and Vice-Chair of the state Senate committee that oversees financial institutions now that Democrats have assumed the majority. The balance of power in the Senate shifted as a result of the June recall election. FULL STORY

$100K of free financial ed available to credit unions, SEGs
This fall, the Wisconsin Credit Union League and the Department of Financial Institutions are pleased to announce that up to 1,000 employees of credit unions or their employer groups can participate in the Investor Education in Your Workplace® (a $100 value per person), thanks to a grant from the Investor Protection Trust and the support of the Investor Protection Institute. The program offers participants unbiased, online training in personal finance and investing fundamentals. FULL STORY

More cowbell? Is your CU stuck or ready to innovate?
Matt Davis, Director of Innovation for the Filene Research Institute, will share ideas and best practices at The League's Innovators & Educators Roundtable August 15 to help your credit union stop doing what doesn't work and start doing what does work to create loyal, financially literate and responsible borrowers who can help your credit union prosper. FULL STORY

Reminder: sign up by July 27 for discounted financial counseling training
Based on the interest garnered from credit unions, The League has agreed to partner with the National Credit Union Foundation to offer an enhanced version of the Credit Union Financial Counseling Certification Program (FiCEP) this fall, which teaches and certifies CU employees of all levels on how to approach and counsel members who are faced with financial difficulties.

REAL Focus: financial ed heats up this summer
Wisconsin credit unions' REAL Solutions® effort is all about financial education and outreach to help members save and build wealth. The League's Director of REAL Solutions and Outreach, Chad Helminak, shares news on financial education opportunities and tools for credit unions, our effort helping teachers and schools statewide and some events you don't want to miss. FULL STORY

Hispanic strategy an "imperative" for credit unions
new report about Hispanic consumers in the U.S. may serve as a wake-up call to credit unions about the need to understand and prioritize a strategy to reach the young, connected and growing Hispanic market. FULL STORY
Free webinars focus on serving the booming Hispanic market
Free webinars that can help you understand and develop or improve plans to serve the Hispanic market are scheduled for each of the next coming months. FULL STORY

Compliance Compass: overdraft practices scrutinized
Responding to consumer dissatisfaction with banks' high overdraft fees, both courts and regulators are scrutinizing overdraft practices. In this edition of Compliance Compass, Legal Affairs Counsel Paul Guttormsson cautions Wisconsin credit unions to look closely at overdraft fees, disclosures, marketing, and overdraft practices to avoid member complaints, the risk of legal claims, and examiner scrutiny. FULL STORY

Network and learn at compliance, asset size roundtables
Some of the most useful information is gleaned from casual conversation with peers. That's why The League's annual Roundtables, which offer the latest knowledge from top presenters and a chance to talk with peers about practical issues, are some of our best-attended events. Register now to ensure your spot at the table for our in-demand Compliance Roundtable and any of three CEO Roundtables based on CU asset size. FULL STORY

Leadership Workshop teaches great manager-employee dynamics
Have you ever wished co-workers would have a more positive attitude? Stop complaining? Take initiative? Solve peer squabbles? Do your managers hold employees accountable? Motivate staff? Address issues before they escalate? Develop employee strengths? Winning teams are defined by effective manager-employee dynamics. Make sure your CU has them by attending The League's Leadership Conference Sept. 13 at the Bridgewood Resort in Neenah.

League committees named, help League help credit unions
More than 60 credit union professionals from around the state have been named to League committees or councils. These individuals provide feedback on what credit unions and their 2.2 million members need. FULL STORY

Foundation sends two CU professionals to CUNA Management School
Two credit union pros are attending CUNA Management School thanks to a shared scholarship from the Wisconsin Credit Union Foundation. FULL STORY

International CU Day is Oct. 18; celebration materials now available
On Oct. 18, credit unions worldwide will celebrate International Credit Union Day with the theme “Members Matter Most.” Celebration resources and merchandise can now be accessed on CUNA’s website. FULL STORY

Prepare for misunderstandings about new retirement plan fee disclosures
As the deadline approaches for the U.S. Department of Labor's new standards for disclosing retirement plan fees and expenses, credit unions should be ready for an inevitable wave of questions from affected employees. Providing more detailed fee information is a good thing, but employees may misunderstand them at first. It will be important to emphasize that the fees aren't new, and that they cover valuable, necessary services. FULL STORY

Deepen member relationships profitably
Credit union membership is at an all-time high, and with that comes new opportunities to build more and stronger connections to your membership. Now consider the fact that credit union members are three times more satisfied with the service they receive from credit unions versus banks. Yet only 19% of members consider their credit union to be their primary financial institution. FULL STORY

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