Project Differentiation

BATON ROUGE TEACHERS FEDERAL CREDIT UNION

At Baton Rouge Teachers Federal Credit Union (BRTFCU), we work to actively serve everyone within our field of membership, and as appropriate, to also serve the communities in which they live.

We hereby promise to serve our members with fairness and honesty, and to treat them with respect and dignity. We will offer accounts and services that are competitively priced and that provide recognizable benefits to the diverse economic and social groups within our field of membership. We pledge to always look for better ways to serve members, and to reach out to those who are underserved.

We promise to continually, in all areas of our operation, work to enhance the value of membership in BRTFCU. We will monitor our performance and communicate our service to members in a meaningful way so that members, potential members, the community, regulators, and legislators may better understand and appreciate the role we play in their lives.

Each year, as we develop our strategic plan, we will include efforts that place high importance on consumer education and the teaching of financial thrift. We will work to ensure that all of our efforts can help members to become financially self-sufficient and successful.

This Statement of Commitment to Members is consistent with our principles of "Not For Profit, Not For Charity, But For Service" and our philosophy of "People Helping People." This statement represents our commitment to upholding good business practices that will ensure the financial strength of our credit union on behalf of our members.

Section 1
Service to Members

Baton Rouge Teachers Federal Credit Union strives to offer services designed to help improve the economic and social well being of all members. As we work to do so, we will not exclude low and moderate-income members, and we will return financial value to all who participate in our member-owned financial cooperative.

Current Services that help improve the economic and social well being of our members:

  1. Competitive dividends paid on Savings Accounts
  2. Low minimum balance requirements to earn dividends:
    -Balances as low as $100 earn dividends on Regular Savings, Summer Savings, and Christmas Club Accounts
    -Balances as low as $5 earn dividends on Youth Savings Accounts
    -No minimum balance required on Individual Retirement Accounts
  3. Life Savings Insurance - up to $4,000 coverage provided on Savings Accounts at no cost to the member (health and age requirements apply)
  4. Money Market Accounts - an easily-accessed investment account to help members make more of their money
  5. Direct deposit is offered to make it easier for members to save regularly
  6. Free Credit Life Insurance protection on personal and auto loans up to $15,000 (health and age limitations apply)
  7. Free Checking - no monthly service charge, no minimum balance requirement
  8. Low cost loans - competitive rates on personal and collateralized loans, risk-based pricing provides incentive for members to improve their credit ratings
  9. Free Travelers Cheques
  10. Free auto pricing assistance
  11. Free Online Banking access - no monthly charge after one-time setup fee
  12. Free transactions by phone - through our Teleservice Center representatives
  13. Free financial management services
  14. Discount tickets - Disney parks, AstroWorld, WaterWorld, Jazzland

New Services Planned for the Coming Year

  1. Future Savings Plan - an account that is "loaned" to the member, yet is inaccessible until the member finishes making the payments. When payments are complete, the account becomes property of the member, including dividends earned. Intended to help those who have been unable to save regularly.

  2. Auto Shopping Library - an area of our Goodwood office will be dedicated to free information that can assist members who are looking to buy vehicles.

  3. Home Buying Options - Low income and first-time home buyers will have access to affordable financing with a zero down payment option.

Section II
Member Education

Baton Rouge Teachers Federal Credit Union is committed to member and consumer financial education. We are also committed to educating members and consumers about credit union uniqueness, philosophy, values, and how credit union membership can help them better themselves financially.

Current Programs that support Member Education and Advocacy

  1. Free literature - Each of our four offices provide free brochures on subjects such as auto shopping, establishing and using credit; credit card fraud, identity theft and other subjects of benefit to consumers.
  2. Financial Responsibility classes - our representatives teach financial responsibility in some of the schools we serve. Young members and potential members benefit from this information.
  3. Complimentary seminars - Members Financial Services holds seminars for members at our credit union to help educate them on retirement planning, retirement options, tax strategies, etc.
  4. Home Buying Seminar - once a year, we conduct a free seminar to help members learn more about buying, building, financing, or refinancing a home.
  5. Web Links - through our web site, members gain access to free consumer information publications: Home and Family Finance (adults) and Googolplex (students)
  6. Credit Bureau Reports - through our web site, members are able to obtain a copy of their credit report
  7. Free Auto Pricing Information - available through our web site or through designated PC's at our offices, members may obtain CarSmart auto pricing information and NADA values at no cost.
  8. Calculators - through our web site, members may access calculators that help them predict results of savings efforts, calculate loan payments, etc.
  9. Educational field trips- students tour our facilities and learn about credit union operations and career opportunities available
  10. Job shadowing programs - BRTFCU cooperates with area high schools to allow students the opportunity to spend days "shadowing" the activities of our employees, helping them to better prepare for the work force
  11. Financial Literacy - BRTFCU participates in and supports the Louisiana Coalition for Personal Financial Literacy and its efforts to bring financial education into schools
  12. Credit Education - Teachers Federal supports the Partners in Credit Education program operated by Consumer Credit Counseling Services, helping students and adults to learn real-life basics of money management
  13. Career Day Participation - BRTFCU Staff members make presentations at a number of schools' Career Days throughout each year. Members of Staff and Management take turns in presenting career education information to the students.

New Programs Planned for the Coming Year

  1. Auto Buying Center - we will designate lobby space and materials to create an educational center for members who are shopping for a vehicle. The center will include educational and research publications, as well as sales information from a variety of area dealerships.

  2. Financial Counseling - We plan to develop a program to enhance and broaden the scope of the financial counseling we offer to members. The program will focus on debt management, but is intended to help members in all areas of financial management.

Section III
Involvement and Governance

Baton Rouge Teachers Federal Credit Union will endeavor to preserve credit union democratic principles, including demographic representation and volunteer participation in credit union activities.

Current Programs that Support Involvement/Governance:

  1. Norman Thompson, President and CEO of BRTFCU, serves on the NAFCU Regional Advisory Committee on behalf of all credit unions in our region. His representation helps to keep us aware of Governance issues and to plan our involvement, as well as helping our neighbor credit unions to benefit from the Committee's activities.
  2. Annual Meeting - BRTFCU publicizes and conducts an open Annual Meeting for the benefit of members. Election of officers is held at the Meeting and members are encouraged to participate and to remain involved in the activities of their credit union.
  3. Pleas to Membership - in past situations, such as the drive to gain passage of H.R.1151, BRTFCU has taken an active role in keeping members informed and in soliciting their participation.
  4. Organizations - Members of BRTFCU Management Team, including volunteer Board, Credit, and Supervisory Committee Personnel, are involved in a variety of professional and trade organizations. Through organizational communications and conferences, BRTFCU Personnel keep abreast of credit union trends and governance issues.

New Programs Planned for the Coming Year:

  1. Increased Involvement in Trade Organizations - BRTFCU will identify organizations and encourage key personnel to become involved

Section IV
Diversity

Baton Rouge Teachers Federal Credit Union recognizes the value of demographic diversity in staff as well as in volunteers, and will work to bring people of diverse backgrounds and experiences into leadership and other roles at the credit union.

Current Programs That Promote Diversity:

  1. Board Composition - The BRTFCU Board of Directors has nine members, five men and four women, as of February, 2001. Through the example of the Board's composition, all members are shown that diversity is encouraged at this credit union.
  2. Staff Composition - BRTFCU is an equal opportunity employer with a staff that is diverse in gender and in ethnic considerations.
  3. Staff Education - employees are encouraged to participate in developmental training such as the STAR and MERIT programs. Through these ongoing educational opportunities, employees are able to develop their skills, enhance their marketability, and improve their chances of being promoted within the organization.
  4. School-To-Work - BRTFCU is involved in a local School-To-Work program with two of our local high schools. We support this ongoing educational and job placement effort and have hired many students through this program. Ms. Jean Floyd, Senior Vice President of BRTFCU, serves on the School-To-Work Advisory Board.

New Programs Planned for the Coming Year:

  1. No new programs are planned at this time.

Section V
Commitment to the Credit Union Movement and other Cooperative Activities

Baton Rouge Teachers Federal Credit Union will work to build and strengthen our unique credit union movement by providing financial and related resources to others within the community, and by actively advocating the credit union a difference at all levels of government and in other appropriate public forums. In addition, BRTFCU will participate in local, state, and national activities as appropriate, and will strive to build and strengthen relationships with other sectors of the national cooperative movement.

Current Activities that Support the Credit Union Movement:

  1. National Involvement - BRTFCU is involved in groups which work toward the improvement of credit unions on a national and international level, including: Credit Union National Association (CUNA), National Association of Federal Credit Unions (NAFCU), Louisiana Credit Union League (LCUL), Financial Women International, etc.

  2. Local Involvement - BRTFCU is involved and supports local groups which serve to improve education, development, and the quality of life for members and non-members in our community, including: Volunteers in Public Schools; I CARE and DARE anti-drug programs; YMCA; School-to-Work Program, La. Resource Center for Educators; not to mention extensive support of the East Baton Rouge Parish School System and its educational events and programs; plus efforts within the Catholic Diocese of Baton Rouge.

  3. League and Chapter Involvement - Through our involvement with the La. Credit Union League and the Baton Rouge Chapter of the Credit Union Managers' Association, BRTFCU works to cooperate with other credit unions in promoting and educating people of the benefits of credit union membership and the difference credit unions can make in people's lives.

  4. Cooperative Activities - BRTFCU participates in cooperative advertising efforts with Baton Rouge area credit unions. Financial resources are pooled, enabling the credit unions to purchase effective advertising at a reasonable cost. BRTFCU donates its Marketing Department and hours of creative time to create ads for the group.

  5. Support of fellow credit unions - BRTFCU routinely shares information with other credit unions, just as they share experiences with us. From time to time, we work specifically to help smaller credit unions to thrive, such as our recent "big brother" support of East Feliciana Teachers FCU.

  6. Meeting Facilities - BRTFCU donates use of its Conference Rooms and meeting facilities to other credit unions, Credit Union Associations, and community-minded groups such as Volunteers in Public Schools and the ICARE anti-drug program.

New Programs Planned for the Coming Year:

  1. No new programs are being planned at this time.

Section VI
Public Service / Corporate Citizenship

Through direct financial support or other similar contributions to worthwhile local organizations, and by participating in public service activities, BRTFCU strives to be an active partner in our community. We recognize that practicing good Corporate Citizenship supports the Credit Union Philosophy of "People Helping People." Furthermore, it will help to raise the overall level of the social and economic well being of those in our community. Also, this support will help to strengthen ties within the community, and better position us to reach out and serve - as only a credit union can - those people in greatest need of affordable financial services.

Community / FOM Groups Currently Receiving Financial or Other Support (including the support given) and Current Public Service Activities:

  1. East Baton Rouge Parish School System - BRTFCU supports the Schools through monetary donations to a variety of purposes including Teacher conferences and training programs, plus donations of staff time to handle such events. We also provide teaching of financial responsibility in the classrooms, participation in Career Day activities, support of school fairs and athletic teams and events.

  2. Catholic and Private Schools - similar to our support of EBR Schools, BRTFCU provides monetary donations and volunteers staff time to support events and activities of the schools. A notable example is BRTFCU's support of The Bishop's Run, an annual charity fundraising event.

  3. BRTFCU donates money and time to Volunteers in Public Schools; I CARE and DARE anti-drug programs; Retired Teachers' Association; the La. Association of Educators, La. Resource Center for Educators, and supports efforts of most educational events and conferences in the area.

  4. BRTFCU employees support the Capital Area United Way and its efforts to help the community throughout a nine-parish area.

New Public Service Activities planned for the coming year:

  1. Support of Bowl for Hope tournament to benefit Boys Hope
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