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UW CU pilots Filenes Debt in Focus education tool

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MADISON, Wis. (7/15/09)--UW CU in Madison, Wis., announced the addition of a new tool called “Debt in Focus” to its website, uwcu.org. Debt in Focus is a free, anonymous Web-based debt education tool to help consumers with budgeting and personal finances. It was created by the Filene Research Institute to help people better understand their financial situations. UW CU is among the first group of institutions to pilot Debt in Focus, which will eventually be made available to credit unions nationwide, said the credit union. UW CU members and any interested consumers can use Debt in Focus and provide feedback regarding its usability and effectiveness. “Now more than ever, people are taking a critical look at their finances and spending habits,” said Mike Long, chief credit officer at UW CU. “We are offering this tool free so people can take the first steps toward understanding their own financial situation and the impact debt has on their financial health.” Users initially input information regarding their income and current debt. They receive a summary of their debt total, ratios and an estimated budget. They also are given a series of steps specific to their situation that they can take to reduce their debt or get to a better financial position, Long said. UW CU has more than $1 billion in assets.

Motivation repossessions topics of audio conferences

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MADISON, Wis. (7/15/09)--Motivating employees in the current economy and understanding the legalities of repossessions are the topics of two upcoming audio conferences in August from the Credit Union National Association. “How to Motivate and Lead Your Staff in This Economy” will teach new motivation techniques to motivate employees that go beyond the ordinary. The Aug. 5 offering identifies what employees really want from their jobs and what makes them productive and loyal. The session will reveal the five cravings that employees need satisfied to be happy. Also, credit union lending and collection staff can gain a better understanding of the legal processes involved in repossessions during another Aug. 5 audio conference, “Repossession and Surrender of Collateral.” The offering will discuss who should be on the loss-prevention team, common factors that trigger repossession of collateral, what to do with that collateral, legal issues that impact the sale of repossessions and surrendered collateral, automatic stays and collateralized loans. The tuition for a live audio conference is $89 and includes access to the archived version of the event for six months. For more information, use the links: