Project Differentiation
UFCW Northwest Federal Credit Union Statement of Commitment to Members
UFCW Northwest Federal Credit Union is a member owned financial cooperative owned and directed by our members. We strive to be their full service financial institution, dedicated to providing stability, integrity, and excellence in services, rates, and family financial security. We will uphold our fundamental responsibility to actively 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 deals to all members at all times. We will deliver a range of low cost 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 UFCW Northwest Federal 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 UFCW Northwest Federal Credit Union’s strategic plan, we will put forth every effort to enable our members to become financially 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 statement represents good business practices that ensure the financial strength of our credit union on behalf of our members.
UFCW Northwest Federal 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.
Scottie Saver – Account for young members 0- 12 years of age. To encourage savings in children with rewards for different level of dollar increments.
Free Checking – No monthly service fee and dividends earned with $100.00 minimum balance.
VISA Credit Card – Low interest rate of 11.9%. This is significantly lower than the competition. No Annual Fee.
Allmerica Financial – Financial Planning for members outside the scope of regular credit union products. Offering Insurance products, mutual funds, retirement planning, estate planning.
New Services Planned for the Coming Year
Risk Based Pricing – Review the ability to price loans in a way to grant loans to members that do not meet our current criteria.
Second Mortgage Program – Review the possibility of offering a fixed rate low cost 2nd mortgage. (Loan Fee of $100.00 using 80% of the taxed assessed value less any outstanding balances, limited appraisal and only pass along filing fees etc.)
Young Adult Program – Promoting convenient access for members 18-24 with free checking, along with $250.00 credit line for members with no credit history.
Prime Plus Program – Bundle products that members 50 and older might use.
Section II. Member Education
UFCW Northwest FCU is committed to member education and social responsibility, including providing financial education to members and potential members to enhance their lives as well as promote credit union uniqueness, philosophy, and value.
Current or Existing Programs
Monthly Union Meetings – Partnership with our union sponsor local 555 in holding monthly union meetings educating members about unionism and the credit union.
Home buying Seminars – Infinity Mortgage or CUNA Mortgage home buying seminar to be held at least annually.
Newsletters – Quarterly newsletters containing valuable information and location of CURTS locations for more convenience.
Web-Site – Newly Available
Educational Seminars – Estate planning, Social Security Information, Direct Deposit, Retirement Planning, in conjunction with Allamerica Financial.
CU Rep Program – Members in the stores provide information to co-workers about the credit union services.
New Programs Planned for Coming Year
E-Mail Statements – Educate members about getting statements on-line.
Auto buying Seminars – Provide members with the tools to purchase a car without getting taken by the dealerships.
Expanded Web-Site – Review the possibility of provided links on our web-site geared toward the consumer.
Section III. Involvement/Governance
UFCW Northwest FCU will endeavor to preserve the credit union democratic principles, including demographic representation and volunteer participation in the organization.
Current or Existing Programs
Credit Union Philosophy – Staff and board encouraged to review the information, take the quiz and receive the Credit Union Philosophy Certificate.
Chapter Board – Current Representation in the Credit Union Association of Oregon serving on the Chapter Board.
New Programs planned for Coming Year
GAC Conference - Budget for CEO and a staff person or Board person to attend the GAC Conference in Washington DC in the Winter of 2002.
Section IV. Diversity
UFCW Northwest FCU will operate as a democratically controlled, member owned cooperative by focusing management, staff, and volunteers on diversity in the leadership and staff of the credit union.
Board Representation – In recent years, a concerted effort has been made by the board to use more committees to help with the direction and trying to determine what members want. Board members consist prior members either in the industry or past employees of our sponsor group.
Equal Employment Opportunity – Credit Union actively seeks to fill vacancies by hiring qualified candidates without regard to race, creed, religion, or socio-economic status.
New Programs Planned for Coming Year
Section V. Commitment to the Credit Union Movement
CURTS – Partnering with other small credit union to provide more locations for members to do simple transaction such as deposits, loan payments, and withdrawals. This is an informal shared branching concept.
CUWA – Staff representation in the Credit Union Women’s Association.
Mt Hood Chapter – CEO serving as Vice-Chair of the Mount Hood Chapter which holds chapter meetings every other month for education purposes for staff and volunteers throughout the credit union movement.
Education – Board and management are supportive of staff, board and other volunteers to participate in educational opportunities, conferences and self study programs to further their knowledge in the ever changing credit union world.
New Programs Planned for Coming Year
Section VI. Public Service/Corporate Citizenship
UFCW Northwest FCU will strive to be an active partner in the community and field of membership that will enhance both their economic and social well being. Each year the credit union budgets to support organizations in our community.
Current or Existing Programs
Doernbechers Childrens Hospital – Through Board Commitment and Staff we hold events and encourage contribution through the following;
- Doernbecher Barbeque
- Entertainment Book Sales
- Coin Sales
- Candy Sales
- Annual Meeting Support
- Casual Day Purchase
Women’s Shelter – Encourage donations of usable household goods and clothing at our holiday annual Christmas dinner.
Gladstone Police Department – Encourage donations of new teddy bears and donate them to the police department to us in domestic situations when children are involved.
New Programs Planned for Coming Year
Sunshine Food Barrels – Place food barrels in the office beginning November 1, 2001 for holiday distribution.
