The Pulse (07-13-12)
July 13, 2012 ● Volume 01, Issue 28
View 07-13-12 issue of The Pulse
Credit Union News
MnCUN unveils Bankziety videos
This week MnCUN unveiled the second component of its statewide consumer awareness Bankziety campaign, which positions Minnesota credit unions as the solution to consumers' financial frustrations. The homepage of the Bankziety website now features videos of four consumers who have turned to and found solace in credit unions.
The campaign's consumer videos use real Minnesotans who talk about the credit union difference. The individuals in the videos were chosen based on their entries into the Bankziety essay contest, which asked consumers to submit a short essay on Facebook that told their Bankziety story. Entries included essays about individuals' financial frustrations, including their financial goals and why they switched to a credit union. From the submitted essays, MnCUN chose four individuals to be featured in the campaign videos.
Each individual tells his or her story of why he or she turned to their credit union and how the service is different from that received at big banks. The featured videos include stories about:
- Newlyweds who turned to credit unions after encountering problems depositing their wedding checks at a bank ATM;
- A geologist who was able to beat a car dealership's financing through a pre-approved loan with her credit union;
- A college student who is looking to his credit union to help him manage life's financial challenges and opportunities; and
- A father and daughter whose credit union has helped them learn important financial lessons.
To view the campaign's consumer videos, visit the Bankziety website. Credit unions are also encouraged to post the videos to their website and share them with members. For more information about the campaign, visit the Bankziety page of the Network website.
Network publishes analysis of 1st quarter CU data
As the economy continues its slow recovery, Minnesota credit unions are showing strong financial performance and growth. This analysis of the state and local economy and credit union movement was released this week in the Network's 1st quarter profile of Minnesota credit unions. Working together with economic and research experts at CUNA, MnCUN developed this quarterly report to highlight overall credit union performance, ratios and trends.
In its examination of the country's recent economic developments, the report highlights a number of factors affecting Minnesota credit unions. Consumer confidence has declined recently, causing an increase in savings balances by 7.1 percent over the last 12 months ending in the first quarter, which is the fastest pace in three years. In addition, consumers are looking ahead to 2013 when $600 billion in tax increases and spending cuts are set to expire.
For Minnesota credit unions, the first quarter of this year was a time of continued growth. Over the last 12 months ending in the first quarter, loan balances increased by 4.4 percent, the fastest pace in five years. In addition, Minnesota credit union membership growth remained strong with a 1.3 percent increase – the fastest pace in five years. In contrast, Minnesota banking institutions reported a 6.8 percent increase in savings over the last year and only a 0.8 percent increase in loan balances. Minnesota credit union delinquency rates are less than half the bank-reported delinquency rate of 2.7 percent in the first quarter.
For additional insights from the report, along with charts and credit union data, visit the Minnesota Credit Union Profile page of the Network website. Credit unions are encouraged to share this information internally and with members of the media. With questions about the report's information and data, contact MnCUN Controller Tommy Rempfer by email or at (651) 288-5511.With questions about disseminating this information to the media or your members, contact MnCUN Director of Communications Rachel Anderson by email or at (651) 288-5527.
Like, follow and link to MnCUN online
Through its social media platforms, the Network provides credit unions the opportunity to be part of an online community of professionals, volunteers, consumers and elected officials. MnCUN uses Facebook, Twitter and LinkedIn to provide updates on the credit union industry and spread the word about the benefits of joining a credit union.
Through its activity on Facebook and Twitter, MnCUN offers financial tips and advice to help them make the most of their finances. Those who "follow” and "like” the Network receive messages about financial and credit union topics, learn about the benefits of credit unions and watch videos on pertinent topics. To be part of this online conversation, click the Facebook and Twitter icons on the Credit Union homepage of the Network website. You can also find us by searching for "Minnesota Credit Unions” on Facebook and for "mncreditunions” on Twitter.
Additionally, those with an interest in furthering their credit union career can participate in the "Minnesota Credit Union Careers” group on LinkedIn. Administered by the Network, this group provides an online forum to discuss credit union issues, ask questions and post job openings. Group members stay up-to-date on credit union issues and explore how they can enhance their credit union career. To join this forum, click the "groups” tab within LinkedIn and search for "Minnesota Credit Union Careers” in the directory. Once you've found it, click "join group,” and you're set. If you don't have a profile on LinkedIn, you can create one for free at Linkedin.com.
Participate in one or more of MnCUN's social media platforms and be part of this online exchange of ideas, tips and information. With questions about the Network Facebook, Twitter or LinkedIn pages, contact MnCUN Director of Communications Rachel Anderson by email or at (651) 288-5527.
Credit union notes…
- Moorhead Federal Credit Union merged into Central Minnesota Credit Union on June 30. The merged credit unions have more than $535 million in assets and serve more than 38,000 members in the Moorhead and Melrose areas.