INDIANAPOLIS (7/12/12)--FORUM CU, Indianapolis, has formed a small business advisory council comprising senior executives and small business owners who are also active members of the credit union.
Members of the newly created FORUM CU Small Business Advisory Committee include, from left, Jay Smale, Laurie Seland, Scott Myer, Bill Mulford, Renee Lucas, Carmen Clift, Teresa Alles, and Cassandra Faurote. (Photo provided by FORUM CU)
The council's first official meeting was held in November.
"We have been developing this concept for the past several years and are delighted to have our first council members in place," said Andy Mattingly, FORUM CU chief operating officer.
Council members serve a one-year term and meet quarterly to network with each other and provide input on FORUM product and service initiatives.
"FORUM is a cooperative credit union, so ensuring that our members' voices are an integral part of our decision making process is critical," Mattingly said. "We also want to be sure they are receiving a professional benefit from these meetings, such as networking opportunities and the ability to create meeting agendas aimed at helping them grow their businesses."
Topics addressed by the council include a new checking account that will roll out in the fall, FORUM's new online banking system that went live in March, and community involvement initiatives for small business owners.
The Credit Union National Association (CUNA) and credit unions are urging the U.S. Congress to increase credit unions' member business lending (MBL) cap to 27.5% of assets from 12.25%. Doing so would open up more opportunity to offer MBLs, inject $13 billion in business loans into the economy and create as many as 140,000 new jobs, with no cost to taxpayers, CUNA said.