Project Differentiation
SERVICE CREDIT UNION
As a dynamic, member-owned, not-for-profit financial cooperative, Service Credit Union is dedicated to providing quality financial services and products. We will uphold our fundamental responsibility to professionally and personally serve people within our field of membership, and as appropriate, the communities they live in. We will treat all members with respect and dignity and we will offer honest, fair financial services to all members at all times. We will offer a reasonable return on investment and a package of low cost and competitive products and services to the diverse economic and social make-up of our members and potential members. We will look for better ways to reach out to the un- or underserved in our field of membership. And we will continually, in all facets of operations, demonstrate the value of membership in Service Credit Union.
We will monitor and communicate our service to members in a meaningful way so that members, potential members, legislators, regulators, and the community at large will understand and appreciate the unique role that member-owned financial cooperatives play in their lives.
Throughout Service Credit Union's strategic plan, we will put forth every effort to enable our members to become financially secure, self-sufficient and successful. We will place high importance on consumer education and the teaching of financial thrift.
This Statement of Commitment to Members is consistent with our credit union principles of "Not For Profit, Not For Charity, But For Service" and our philosophy of "People Helping People". This is not just a statement of organizational purpose but a benchmark by which we measure all that we do.
Section 1: Service to Members
Service Credit Union strives to offer services designed to improve the economic and social well being of all members from all socio-economic backgrounds, including our low- and moderate-income members, and return financial value to all those who participate in our member-owned financial cooperative.
Current Services that Help Improve the Economic and Social Well Being of Members:
- Youth Accounts - e-kids and e-teens:
Youth membership clubs targeted at children between the ages of 0-12 for e-kids and 13-7 for e-teens. These programs promote savings and good money management for youth with offers of special savings accounts, newsletters and group specific internet sites. - Service Checking Accounts - Free Checking:
Free checking is offered membership-wide and provides with no monthly service charge, no minimum balance, and no per check fees. - Interactive Web Site:
Service Credit Union's web site is targeted to both members and potential members in obtaining valuable information concerning membership, as well as all products and services available. Our site also provides a link to Auto-by-tel car buying service and other financial tools. - Junior Enlisted and Moderate Income Services:
This program is designed for junior enlisted military personnel and moderate income earners. This is a small saver program that began in 2000 for those members who have limited means. This program offers low minimum share certificates, high-yielding savings accounts, free checking with direct deposit, and additional loan discounts. - Free Service Credit Union ATM Usage:
Service Credit Union provides free access to members' accounts through ATMs at 12 Service Credit Union branch offices and approximately 15 Service Credit Union sponsored ATMs throughout New Hampshire. A limited number of free ATM transactions are available for members with direct deposit at ATMs around the world. - Low Minimum Share Certificate Programs:
All Service Credit Union share certificates offer a $1,000 minimum on which the member may select any maturity date between six months and five years at attractive and competitive dividend rates. - Experienced Based Pricing on Loans:
Pricing on all Service Credit Union loans are based on the member's credit score, which allows members who have exceptional credit records to obtain loans at discounted loan rates. - Credit Union Direct Lending Program:
Service Credit Union provides access to loans through 15 dealerships throughout the State of New Hampshire. This program is scheduled to start in September 2000 with additional automobile outlets continuously being added. This program also offers the ability for non-members to join the credit union and receive our auto loan services and full credit union membership. - International Toll Free Service:
800 toll-free service is provided both in the United States and in Germany to insure the majority of our members are able to access information concerning their accounts at no charge. - Early Payday Checking:
This program began September 2000 and provides members who send direct deposit through electronic channels access to their funds on the day the transmission is received rather than the effective date of the deposit. In most cases, the member is able to access their funds two days prior to pay day.
- Senior Member Accounts:
Service Credit Union will target mature adults, 55 and older, with investment advice, preferential savings rates, free checks for share draft accounts, and other special incentives. This group will also have a specific newsletter and specific consumer information located on our web site. - High School Branch Office:
Service Credit Union has been approached to establish a branch office in a high school in Falmouth, Massachusetts. Details are being worked out to provide deposit services at this office five days a week during a specific time period. This branch will help foster financial education for the high school age individual. - Scholarship Program:
We are formulating this program to reward youth in our membership and as a means of potentially attracting new youth members. - Members Financial Network:
We will be offering access to more financial services through CUNA Mutual's Members' Financial Network. This will allow members who sign up for this program to access stock, bond, and mutual fund information through Service Credit Union's web site.
Section II: Member Education
Service Credit Union is committed to member and consumer financial education; in addition, we are committed to educating members and consumers alike about credit union uniqueness, philosophy, and values.
Current Programs that Support Member Education and Advocacy:- Participation in Local Home Shows and Buyer Seminars: Every year Service Credit Union participates and sometimes sponsors local home shows and buying seminars to assist and educate first-time home buyers, as well as provide information on our real estate lending services to existing and potential members.
- Service Credit Union Web Site:
Service Credit Union web site serves as an on-line link for members to access accounts and service information. The web site is scheduled to be completely remodeled during the latter part of 2000. - Quarterly Newsletter:
Each quarter our newsletter contains valuable educational content for our members related to the credit union's uniqueness and the services we provide. - Employee Orientation:
Service Credit Union provides an orientation program for new employees, which includes special emphasis on the formation of credit unions and the uniqueness of credit unions compared to other types of financial service providers. - Participation in SEG Benefit Fairs:
Throughout the year, Service Credit Union Branch Office Staff attend Select Employee Group benefit fairs to disperse information to the sponsor company on the benefits of credit union membership as well as the products and services we offer. - Budgeting Advice and Check Writing Education:
At some locations, our Branch Staff participate in budgeting, education and check writing workshops. Brochures are available to all members outlining the dos and don'ts of check writing. Free advice on money management and check writing is always available at any Branch Office location.
- High School Seminars:
With the opening of our high school branch office, Service Credit Union seeks to conduct financial education sessions, which will include handling a checking account and how to establish a budget. - SEG Ambassador Program:
The primary objective of this program will be to establish one-to-one contact with local SEG groups through a single point of contact. Further developing and maintaining SEG relationships that will offer credit union services is the primary objective of this program. - Investment Advice:
Through our association with CUNA Mutual's Members' Financial Network, we will provide detailed investment advice, which will provide members the means to more effectively handle their investments and estates.
Section III: Involvement/Governance
Service 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:- Annual Meeting:
Service Credit Union invites its entire membership to our annual meeting where elections are held for available positions on the Board of Directors and the Supervisory Committee. - Actively Participated in the Campaign for Consumer Choice:
Service Credit Union actively participated and monetarily supported the Credit Union Campaign for Consumer Choice. The credit union wide congressional letter writing campaign was initiated in 1996 and 1998. Many of our members and staff successfully requested their congressional representatives support the Credit Union Membership Access Act HR 115 - Annual NHCUL State Legislative Breakfast Meeting:
Members of the senior staff participate in this breakfast designed to foster better relations and understanding for the New Hampshire State Legislative Delegations. - U.S. Senator and Congressmen meetings each year:
During several conferences in Washington, DC, Board members as well as senior staff visit federal legislators in their offices to insure their understanding of the needs of credit unions and credit union members. - Committee Involvement:
Service Credit Union has an individual on staff who is the designated legislative liaison serving on the New Hampshire Credit Union League State Legislative Activities Committee. Members of our Board also actively participate in state and national political party meetings and activities. - Support of local charitable organizations:
Several members of the Board of Directors as well as management staff participate in various activities of local charitable organizations such as the Rotary, Lions and Quota Club organizations. These programs help serve the needs of group specific underprivileged individuals in the communities in which we live and work. - Support Political Action Committee at National and State levels:
Service Credit actively supports political action committees that foster credit union ideals and objectives at both the state and national level. - Department of Defense Contact:
Frequently, members of the Board of Directors and senior management meet with Department of Defense officials through the Defense Credit Union Council to ensure the needs of military members we serve are considered.
- Expanded Political Action Committee Support:
We plan to take a more active role in soliciting participation among staff and our membership to support credit union political action committees. - Legislative Visits:
In the coming year, Service Credit Union plans to enlist our Board of Directors and senior staff to conduct visits with New Hampshire State Delegation representatives to insure these individuals have a thorough understanding of credit unions, how we operate, and the valuable service we provide to their constituents. - Expand Chamber of Commerce Involvement:
Throughout the next 12 months, Service Credit Union will expand its Chamber of Commerce support and participation in a number of Chambers of Commerce we belong to throughout the state. We will become more deeply involved in sponsorships of annual dinner and business functions to insure that business leaders as well as legislators are aware of the credit union principles and philosophy.
Section IV: Diversity
Service Credit Union recognizes the value of demographic diversity in staff as well as in volunteers, and will strive to bring people of diverse backgrounds and experiences into leadership and other roles at the credit union.
Current Programs that Promote Diversity:- Board Representation:
Service Credit Union has made a concerted effort to bring more Board members and committee members from various segments of the membership to insure all segments have a voice in credit union issues. - Equal Employment Opportunity:
Service Credit Union actively seeks to fill vacancies by hiring qualified candidates without regard to race, creed, religion or associated economic status. This effort seeks to represent the communities in which we operate. - Human Resource Classes:
Service Credit Union has provided specific classes to all management personnel outlining the importance in diversity of its membership and workforce. Specific guidelines were provided in handling the needs, wants, and desires of our diverse membership, and specifically, employees. - Member Market Segmentation:
Service Credit Union uses an MCIF to help determine the demographic makeup of our members so that products and services may be specifically targeted to meet their needs.
- Senior Employment Program:
We are working with the State of New Hampshire to recruit Senior Citizens back into the workforce, and specifically, the Service Credit Union workforce.
Section V: Commitment to the Credit Union Movement and other Cooperative Activities
Service Credit Union will work to build and strengthen our unique credit union movement by providing financial and in-kind resources to others within the credit union community, and by actively advocating the credit union difference at all levels of government and in other appropriate public forums. In addition, Service Credit Union will participate in local, state and national cooperative 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:- Leadership Roles:
Service Credit Union's senior management staff serve on boards and committees for credit union related organizations such as - Boards: Defense Credit Union Council, Perne R. Hutchinson Chapter, New Hampshire Credit Union Cooperative, New Hampshire Credit Union League. Committees: Social Responsibility Committee, In-state Advertising Committee, Shared Branching Committee, State Legislative Activities Committee. - Staff Education:
Service Credit Union provides tuition reimbursement for post high school education so that employees may further their career in the credit union movement. - Cooperative Advertising:
Service Credit Union actively participates in the New Hampshire Credit Union League's state-wide advertising program to educate readers on the benefits of credit union membership. In years past, cooperative advertising was also conducted in the Stars and Stripes newspaper in Europe to promote credit union ideals and benefits to the military who serve our country. - Credit Union Consumers' Cooperative:
Service Credit Union has actively embraced the efforts to unite all New Hampshire credit union members to purchase products and services as an alliance to help reduce pricing offered through large volume discounts.
Section VI: Public Service / Corporate Citizenship
Through direct financial support or other in-kind contributions to worthwhile local organizations, and by participating in public service activities, Service Credit Union 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 raise the overall level of social and economic well being of those in our community, help to strengthen ties within the community, and better position us to reach out and serve - as only credit unions can - those people in greatest need of affordable financial services.
Community/FOM Groups Currently Receiving Financial or Other In-Kind Support (including the support given) and Current Public Service Activities:- United Way Campaign
- NH Govenor's Program - NH Computers in School Program
- Make-A-Wish: Adopt-An-Angel for terminally ill children
- Defense Credit Union Council GEM Scholarship fund
- Pro-Portsmouth: First Night & Market Square Day
- Portsmouth Children's Museum
- A Safe Place - abuse shelter
- Chambers of Commerce - Portsmouth, Keene, Salem, Hanover and Lebanon
- Pease International Tradeport Air Show
- Portsmouth Ranger Foundation - USS Ranger replica
- Portsmouth Historic Harbour Trails
- Norris Cotton Cancer Center
- David's House - Home for families of terminally ill children
- New Hampshire National Education Association
- Free use of space for community and civic groups to meet in our Conference
- Room for monthly meetings.
