Social Media and Complaints
Transform negative sentiment into a winning customer experience
NextGen Know-How: Nine Strategies for Dealing With Change
Change is dreaded, inevitable and necessary.
CFO Focus: The New IRR Rule
Be prepared to defend your ALM policy and program.
CUES Next Top Credit Union Exec is Back!
The industry’s first competition recognizing the movement’s incredible young leaders is back with some exciting changes, in partnership with DDJ Myers. CUES Next Top Credit Union Exec challenge, powered by Currency, searches for emerging leaders 35 and under from within the credit union industry. There are a few changes this year. Read more here. Nominations are due June 15.
Credit Union Management Featured Article
As in doubles tennis, boards must back up their team mate, the CEO.
CUES, CUES Director and CUES Supplier members, as well as subscribers to Credit Union Management, can access a complete digital version of our May issue at cumanagement.org. Email firstname.lastname@example.org for password help. Or, to sign up for a handy monthly email with direct links to top articles, email email@example.com.
From our Sponsor
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Video: How to Overcome Challenges with Strategic Marketing with Mark Weber, CEO of Weber Marketing Group, Seattle.
Weber will lead CUES School of Strategic Marketing™, July 16-18 in Seattle.
MyCUES: On this page on cues.org, CUES, CUES Director and CUES Supplier members can monitor industry news sources, communicate with peers and track their professional development.
Review all your member benefits here.
Blog: Directors Face Increased Responsibility, Liability: Board responsibilities have changed since the recent financial crisis. Regulatory amendments and increased risk brought on by the mortgage implosion; industry corruption and misjudgment; and general economic downturns have influenced the modern governance model. The two areas most affected are the transparency and accountability of decision making. Read this CUES blog post by Richard C. Powers, MBA, LLB, national academic director for the Directors Education Program & Governance Essentials Program at the University of Toronto’s Joseph L. Rotman School of Management.
Examine all the duties, risks and liabilities today’s credit union directors face with Powers at CUES’ Directors Leadership Institute: Governance, June 3-6, in Toronto.
Build a Better World Through Cooperatives
Learn from strategy, leadership and governance experts as you network with a worldwide community of credit union leaders at the first-ever CCCU and CUES International Convention, Montego Bay, Jamaica, June 23-26. We’ll explore ways to leverage the competitive advantage of cooperatives, collaborate to improve profitability, and more. Register today.
Cool App: With the HopStop app for Blackberry, Apple, Android, Windows and Amazon, you’ll get door-to-door transit, walking, biking, taxi and hourly car rental directions in over 100 cities. It will even estimate travel time and cost for a taxi and call taxi companies with a tap.
Help Your Members Make Sound Financial Decisions
CUES Personal Financial Management, Powered by Geezeo, helps you strengthen the relationships you have with your members. Engage your members with access to valuable PFM features, including a net worth calculator, account aggregation, budgeting and goal management. Fill out an online interest form today.
Asset Milestone: Dort Federal Credit Union, Flint, Mich., has grown to over $500 million. The CU has seven CUES members.
Honored: Jack Teausant, CCUE, president/CEO of Financial Plus Credit Union, Ottawa, Ill., was inducted into the Illinois Credit Union Hall of Fame at the Illinois Credit Union League’s Annual Convention.
Paul Yang, president/CEO or Premier Community Credit Union, Stockton, Calif., is the winner of the CO-OP THINK Prize 2012, and recipient of $10,000, for his idea for a “P2P Payment Card for CO-OP Network Cardholders.”
FORUM Credit Union, Indianapolis, was named a top place to work by the Indiana Chamber of Commerce. The CU was ranked number 13 (of 70) under the large-sized company category of the 2012 Best Places to Work in Indiana list. Top companies in the state are determined through employer reports and comprehensive employee surveys.
Four CUES-member credit unions received Mo¯PRO ((Member Owner Payments Revenue Optimization) awards from PSCU, St. Petersburg, Fla., at the 2012 Senior Leadership Workshop & Member Forum:
360 Federal Credit Union, Windsor Locks, Conn.: As the first credit union in New England to offer home banking and online bill-pay, 360FCU continues to enhance member loyalty with its innovative virtual branch strategy that now includes mobile banking. It has an average of 1.4 branchless services per member. Its successful marketing strategy includes technology-based giveaways of iPods, laptops, iPads and USB-driven coffee mug warmers. The CU has one CUES member.
Andrews Federal Credit Union, Suitland, Md.: An Andrews FCU branch in Germany served as the pilot launch site for PSCU’s Visa Credit EMV card. The credit union’s employees and members fully embraced this new technology. In the first six months, the branch has opened over 1,200 accounts and has $2.5 million in outstandings. The CU has 11 CUES members.
Citadel Federal Credit Union, Exton, Pa.: Each call center and branch employee engages members by providing the highest level of service: Citadel Class Service. This engagement includes selling new products. Each employee has a monthly sales goal and performance is measured against these goals. In addition, the CU surveys member satisfaction through Net Promoter research. Along with monetary rewards, each year the top performers are invited to a special weekend get-away with executive management, where they share ideas and success stories and have fun. The CU had 16 percent growth in assets in 2011. The CU has one CUES member.
Pen Air Federal Credit Union, Pensacola, Fla.: The CU created a new Premier Account to boost member loyalty and address rising attrition. The Premier Account is offered to members who have a checking account, debit card, share account, and e-statements. Member Loyalty Rewards points are earned for various products and services, including e-statements, bill-pay and new loans. The debit cards on these accounts also earn merchant funded rewards through PSCU’s CURewards Mall. This new rewards-based account has reduced the closure rate, attracted Gen Y members, and reduced the average age of membership for the credit union. The CU has five CUES members.
Retirement: After 55 years, Dr. John Rawls, CCD, announced his plans for retirement from the board of Florida Credit Union, Gainesville, this spring. Rawls has served on the board as president, vice president, secretary, chair, and treasurer. During a nine-month period, he served as interim CEO of the credit union until a new CEO could be found.
Community Involvement: American 1 Credit Union, Jackson, Mich., has made several donations in recent weeks: $550 to The Exchange Club of Jackson Golf Outing, which supports child abuse prevention efforts; $500 to The Salvation Army Golf Outing, which benefits the group’s social service and children’s programs; $100 plus 120 bottles of water to the Bra-zaArt event at the Armory Arts Village, in support of the American Cancer Society. The CU has six CUES members.
St. Louis, Mo.-based Gateway Metro Federal Credit Union’s commitment to financial education for today’s youth was evident when employees taught savings and money topics to over 120 children at AT&T’s annual Take Our Children to Work Day. This is the seventh year Gateway Metro FCU has participated in the event. The CU’s class combined educational and fun activities. Questions got the kids involved and helped them discuss earning money, spending money wisely and saving. After a short presentation, the kids participated in a trivia game, colored and did other fun activities. The CU has one CUES member.
In its ongoing commitment to the community, Members Advantage Credit Union, recently donated $1,000 to The Stepping Stone Shelter for Women in Michigan City, Ind. The CU has six CUES members.
Mission Federal Credit Union, San Diego, launched its Mission Fed mPower website, created to empower teens and young adults with financial education and money management tools. The site features financial education content, including games, videos and a weekly blog “mPowering Your Mission,” all geared toward engaging and educating teens and young adults toward a successful financial future. The CU has one CUES member.
Michigan State University Federal Credit Union, East Lansing, Mich., was recognized as a Gold-Level Fit-Friendly Company by the American Heart Association. AHA recognizes Fit-Friendly Companies as employers that go above and beyond when it comes to their employee’s health. The CU offers a variety of programs and resources to help staff develop and maintain healthier lifestyles. Ongoing exercise “challenges” allow staff to win prizes for walking, running, or biking set distances, and employees easily track their progress using a tool on the CU’s intranet. Physical activity is further supported with exercise classes, free pedometers, walking trails and an on-site employee gym at the CU’s headquarters. The CU has eight CUES members.
Security Service Federal Credit Union, San Antonio, saddled up as a sponsor this year of the First Annual Uvalde Chamber of Commerce Bull-O-Rama. More than 2,000 bull riders and their families, Uvalde residents, community volunteers and out-of-town visitors attended the event held at the new Uvalde County Fairplex. The CU took the bull by the horns by sponsoring the bucketing shoot for Mutton Bustin', an event where children ride on the backs of sheep, holding on for as long as possible. The CU has five CUES members.
CUES Supplier Member News: Nearly $90,000 was raised in donations to Children’s Miracle Network Hospitals at CO-OP Financial Services’ THINK 12 Conference held April 29-May 2 in Boca Raton, Fla., including $75,000 from Transaction Network Services, Inc. At the conference’s Gala & Dinner, CO-OP Financial Services, Rancho Cucamonga, Calif., donated a further $10,000. This is in addition to the $1 million CO-OP Financial Services donates on behalf of its member institutions to Credit Unions for Kids fundraisers annually.
Your Marketing Co., Greenville, S.C., a provider of marketing ideas and solutions to credit unions throughout the U.S. is pleased to announce the addition of Emma Cooper to the YMC team. She is a 2011 graduate of Miami University in Oxford, Ohio.
Read more—and submit your own--CUES member news here.
Free! Webinar: Maximizing New Member Relationships
1-2 p.m. Central
Free! Webinar: Discover & Differentiate
1-2 p.m. Central
Directors Leadership Institute: Governance
Joseph L. Rotman School of Management, University of Toronto
CCCU and CUES International Convention
Montego Bay, Jamaica
Free! Webinar: ERM Fundamentals for Credit Union Risk Managers & Executives
CUES School of Strategic Marketing™
CUES School of Business Lending
School II: Financial Analysis and Diagnostic Assessment
CUES School of Product and Channel Management™