Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

CU System Archive

CU System

CUs, leagues throw a social media party for FCU Act's 80th birthday

 Permanent link
MADISON, Wis. (6/26/14)--On June 26, 1934, exactly 80 years ago today, President Franklin D. Roosevelt signed the Federal Credit Union Act into law, solidifying the growing movement of member-owned, not-for-profit financial institutions.

The act promoted thrift in the United States and established a national system of credit unions that could be chartered under state or federal law. (See related story: CUNA's Hampel: CUs mark 80 years of dedicated member service under FCU Act.)

Spokane FCU created fun photos to celebrate the 80th anniversary of the Federal Credit Union Act as part of a Northwest Credit Union Association social media contest. (Spokane FCU photos)
Credit unions and leagues will take to social media today, among other planned events, to celebrate and remind their employees and members of that important day for the ongoing credit union movement.

The Credit Union National Association--capitalizing on the fact that Thursdays in the social media universe are called "Throwback Thursdays," where people post items about anything pertaining to the past--is encouraging credit unions and leagues to post old photos, such as photos of original branches or headquarters, in honor of the day.

Leagues and credit unions participating also will be tacking on the hashtags: #throwbackthursday, #TBT and #FCUA80 to social media posts on Twitter, Instagram, Facebook and Google+.

Meanwhile, the Northwest Credit Union Association (NWCUA) held a contest for credit unions to send in photos they felt commemorated the day--the winners of which would be awarded tickets to a gala in Spokane City, Wash.

In response, Spokane (Wash.) FCU, with $131 million assets, turned to its own Facebook page to ask its members which of the photos it created was best, including one of Roosevelt sitting at the table signing the act with a party hat on.

The credit union also is hosting a party today in the lobby of its main branch, where it will serve coffee and treats. Those who pop through the drive-up window also will be surprised with treats.

The NWCUA encourages credit unions signing on to social media to use the hashtag #CUAnniversary80.

"Social media is a great venue for raising awareness, and we thought this would a fun, interactive way of engaging members of credit unions," the league said ( Anthem June 24).
 

CU System briefs (06/26/2014)

 Permanent link
  • ALBUQUERQUE, N.M. (6/26/14)-- The Credit Union Association of New Mexico elected new officers for its board at its annual convention June 4-6. Harold Dixon, CEO, State Employees CU, Santa Fe, with $366 million in assets, was elected board chair, and Vice Chair is Karen Griffo, CEO, Roswell Community FCU, with $25 million in assets. Ron Moorehead, president/CEO, First Financial CU, Albuquerque, with $431 million in assets, retained his position as secretary/treasurer. Other members of the board are: Chris Fitzgerald, CEO, Rio Grande CU, Albuquerque, with $245 million in assets; Ronnie Johnston, CEO, Artesia CU, with $90 million in assets; Matt Schmidt, CEO, Los Alamos Schools CU, with $16 million in assets; and Judy Carrasco, CEO, Financial Security CU, Carlsbad, with $35 million in assets ...
     
  • SOMERVILLE, Mass. (6/26/14)-- For the past year, employees of Cambridge Portuguese CU, Somerville, Mass., have nourished their community through the Community Cooks program. Community Cooks brings together volunteers to provide home-cooked meals for ShortStop, a community-based residence and transitional house for homeless young adults. The $114 million-asset credit union is a founding member of the Executive Chefs Circle, a core group of businesses who support local human service programs. "This unique program is a great way for employees to personally get involved in organizations that CPCU supports," said CEO Rui Domingos. Each month, 10 employees each prepare a part of a meal to serve 12 young adults. "CPCU is an example of what a company can do under caring leadership," said Daniele Levine, Community Cooks executive director ...
     
  • MADISON, Wis. (6/26/14)-- Julio Rios, associate vice president of mortgage lending at UW CU, Madison, Wis., was elected to the Wisconsin Mortgage Bankers Association's (WMBA) board of directors . Rios has been with the $1.8 million-asset credit union since 2005. UW CU has been named the top mortgage lender in Dane County for purchase financing the past four years and has been consecutively ranked as one of the state's top lenders. WMBA represents legislative and regulatory interests before the Wisconsin Legislature, the governor's office, the Wisconsin Department of Financial Institutions and other regulatory agencies ...

'Selfies' via new website will help show the face of 100 million CU memberships

 Permanent link
MADISON, Wis. (6/26/14)--Collecting and displaying the faces of thousands, if not millions, of credit union members through "selfies," and to show the face of the credit union movement as it closes in on the milestone of 100 million memberships, is the aim of a new website to be unveiled Friday by the Credit Union National Association and the state credit union leagues.
 
The website,  www.americascreditunions.org , allows credit union members to upload their selfies--those ubiquitous photos or
Click to view larger image Credit union members already are sending selfies of their happy faces to CUNA's new website, which will be launched on Friday as part of CUNA's overall "100 Million Credit Union Memberships" campaign. 
videos people take of themselves, typically with a smartphone or tablet--and post to the site. The pictures submitted will be posted to the website.
 
The website is part of CUNA's overall "100 Million Credit Union Memberships" campaign, aimed to draw attention to credit unions reaching the 100 million memberships mark later this summer.
 
"The strength of our movement is the people who own it and benefit from it," said CUNA Interim President/CEO Bill Hampel. "In advance of reaching the 100 million membership mark, we want as many people as possible to understand, and see, the strength of our movement through the faces of our membership."
 
Those wishing to post a selfie don't have to wait until Friday to begin participating. Photos or videos posted beginning today have the opportunity to be among the first featured on the website. To upload a video or photo, just visit the website, fill out the form, upload from your computer (or via social media), and submit.
 
Social media can also be used by members to share submitted selfies with the hashtag #100MM on Google+, Facebook, Instagram and Twitter. Doing so, CUNA's Hampel said, can additionally demonstrate the power of the credit union movement online and on social media.
 
In addition: Next week at the America's Credit Union Conference (ACUC) in San Francisco, a special "100 Million Memberships" photo booth will be available. Anyone attending the conference may have their "selfie" taken in the photo booth--which will then be available to be shared via social media and posted to the Americascreditunions.org website.

Las Vegas site of this year's CUNA Tech/OpSS Council conference

 Permanent link
MADISON, Wis. (6/26/14)--The annual conferences for the CUNA Technology Council and CUNA Operations, Sales and Service (OpSS) Council will be held concurrently Sept. 21-24 in Las Vegas.
 
"This year's conference will focus on connections. Specifically, the connections between leaders, ideas and opportunities that are driving the credit union movement forward," said Cheryl Sorenson, CUNA Councils conferences and meetings manager. "There is no better way for credit unions to discover effective technology solutions and advance their sales and service standards all in one place."
 
Conference tracks will cover issues specific to each audience. Attendees then will converge for general sessions and a keynote address by Lisa Bodell, CEO of the innovation think tank futurethink.
 
An optional preconference workshop by Neen James, author of "Folding Time: Achieve Twice as Much in Half the Time," is available, as well as speed-round presentations from 15 industry service providers.

The power of co-op principle No. 6: Collaboration

 Permanent link
AUSTIN, Texas (6/25/14)--Courtney Moran, executive director of the Cornerstone Credit Union Foundation, the Cornerstone Credit Union League's charitable arm, presented the keynote address at the National Cooperative Business Association's 2014 Co-op Talks in Austin, Texas.
 
The event is a town hall-style meeting designed to bring together leaders from all cooperative sectors and provide the opportunity for networking and growing strategic alliances that will advance the cooperative movement.
 
Moran's message, "The Importance of Cross-Sector Collaboration Between Credit Unions and Other Cooperatives," highlighted the need for cooperation among cooperatives. She asked the audience to consider the principles and values that credit unions and other cooperatives have in common ( Leaguer June 25).
 
"Credit unions take our credo very seriously: Not for profit, not for charity, but for service," Moran told the audience. "This effort is not meant as a charitable endeavor; it is simply good for business and will help improve our local communities. Credit unions and other cooperatives are strong forces independently, but they can be stronger together."
 
The Austin Co-op Talk came just a week after the Austin City Council approved a resolution drafted by the Austin Cooperative Business Association (ACBA) to foster cooperative solutions for affordable housing, quality jobs, and local food production and distribution in the city.
 
Moran announced that ACBA received a grant of $3,500 from the foundation to conduct a financial services survey and credit union membership drive among the association's founding member cooperatives.

CUAD encourages CU staff to attend SMART program

 Permanent link
BISMARCK, N.D. (6/26/14)--The dates are set for the Credit Union Association of the Dakotas' (CUAD) Staff Member Awareness and Response Training program (SMART), which aims to embolden and amplify the credit union movement in North Dakota and South Dakota.

"This important and necessary program is free and open to our members," CUAD Executive Vice President of Government Relations Jeff Olson said in Wednesday's The Memo . "Participation in this program is highly encouraged and recommended."

Organized by CUAD leadership, the free workshops will train credit union professionals to articulate and relay the credit union message to staff, volunteers, members, lawmakers and community leaders.

Then, those who complete the SMART program will have the ability to turn around and train other credit union employees on how to help promote the member activation program, and the credit union message in general, within each credit union ( News Now April 29).

The program is also part of the league's overarching Taxation Awareness and Response Strategy.

Credit union vice presidents, human resources professionals, trainers, leaders, managers and volunteers are welcome to attend.

The workshops last two to three hours and include lunch and refreshments.

To register, use the link. Dates, times and locations are:
  • July 14, 11 a.m. to 2 p.m. (CT): Town and Country CU, Minot, N.D., with $353 million in assets;
     
  • July 15, 11 a.m. to 2 p.m. (CT): Cass County Electric Cooperative, Fargo, N.D.;
     
  • July 16, 11 a.m. to 2 p.m. (CT): Service First FCU, Sioux Falls, S.D., with $132 million in assets; and
     
  • July 29, 11 a.m. to 2 p.m. (MT): Sentinel FCU, Rapid City, S.D., with $60 million in assets.

Q1 numbers reflect deep member ties to Ala., Fla. CUs, league says

 Permanent link
BIRMINGHAM, Ala., and TALLAHASSEE, Fla. (6/26/14)--Alabama and Florida credit unions continue to report record asset and membership numbers, and now lending is showing signs of strength, especially in Florida, which was among the states hardest hit by the recession, the League of Southeastern Credit Unions reported.
 
The 278 collective credit unions in the two states added $2.2 billion in new assets and 100,000 new members in the first quarter. When broken down by state, Alabama's 120 credit unions added $479 million in new assets for a record $18.8 billion and 9,000 new members for a record 1.88 million members. Florida's 158 credit unions added $1.8 billion in new assets for a record $49 billion in assets and 91,000 new members for a record 4.8 million members.

"We can see that members are doing more than just joining a credit union," said Patrick La Pine, LSCU president/CEO. "The loan growth shows that more small businesses are getting help from their credit union, more families are able to upgrade their vehicle, and families continue to save money."

In Alabama, credit unions added $23 million in new loans, with the surge driven by used-auto lending. Alabama's credit unions are making 8% more used auto loans than the national credit union average. They are also making 4% more than the national credit union average on overall auto loans. In Florida, credit unions added $339 million in new loans, with $48 million coming from new member business loans. Florida's credit unions also are making about 3% more auto loans than the national credit union average.
 
Alabama members added $429 million to their savings in the first quarter, while Florida members saved $1.5 billion.
 
Delinquency and charge-off rates are dropping in both states. Delinquencies at Alabama's credit unions delinquency rate fell 30 basis points (bp) to just over 1% and the net charge-off rate is 0.56%, right at the national credit union average.
 
Florida's credit unions have seen their delinquency rate cut in half in five years. Delinquencies improved another 33 bp in the first quarter to drop to 1.29%. Net charge-offs were also cut in half over the past five years to 0.77%, which is just 25 bp above the national credit union average. This is a dramatic improvement since 2011.
 
Credit unions are local with the workforce all coming from within the communities where they are located. Alabama credit unions added 52 new full-time employees in the first quarter and have added nearly 300 new full-time employees since 2011. In Florida, 77 new full-time employees were added to payrolls in the first quarter, and 836 new full-time employees have been hired since 2011.