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11/5/2014
CUNA Mutual: Recapture Loans and Target New Opportunities

CU News (10-19-12)










The Pulse (10-19-12)

Oct. 19, 2012    ●    Volume 01, Issue 42

View 10-19-12 issue of The Pulse

Credit Union News


3 reasons why your CU should celebrate Bank Transfer Day in 2012

Last year on Nov. 5, consumers around the country participated in a social media campaign called Bank Transfer Day that encouraged individuals to move their money from national banks to local credit unions. Nearly one year later, credit unions have seen an increase in new members, including 36,000 members joining Minnesota credit unions from June 2011-June 2012.

While it is unclear whether there will be an official Bank Transfer Day in 2012, MnCUN is encouraging credit unions to celebrate this anniversary. This campaign provides credit unions a unique marketing opportunity to educate the public about credit unions and tout the benefits of membership. In fact, there are three main reasons why your credit unions should celebrate Bank Transfer Day this year: 

  1. It's free: Bank Transfer Day 2012 provides you a free marketing campaign that has already proven its success. Take advantage of the momentum built by last year's campaign and celebrate the one-year anniversary of this event. To assist you in joining the celebration, MnCUN has a variety of free promotional materials available.
  2. It's relevant: The need to educate consumers about credit unions is as prevalent today as it was one year ago. The anniversary of Bank Transfer Day enables you to share the credit union difference in a new way. Show how your credit union has grown over the past year and remind consumers and the media that every day is good day to join a credit union.
  3. It motivates: Consumers' discontent with their current banking relationship hasn't gone away. Use the anniversary of Bank Transfer Day as an opportunity to remind consumers of the benefits of making the switch to a credit union.

To assist credit unions in celebrating the anniversary of this social media campaign, MnCUN has created a number of downloadable collateral materials, including a sample press release and web text, a web sticker, sample social media posts and much more. Use these materials and take full advantage of this marketing opportunity! For more information and to download the collateral materials, visit the Bank Transfer Day 2012 page of the Network website. With questions, contact MnCUN Director of Communications Rachel Anderson by email or at (651) 288-5527.


From Minnesota to Malaysia: MnCUN extends ICU Day greetings

MnCUN President & CEO Mark D. Cummins celebrated International Credit Union Day yesterday through a video message sent to credit unions around the state. In his message, Cummins recognized the characteristics that make credit unions around the globe special.

Highlighting the increased awareness of the credit union movement, Cummins touted that U.S. credit unions are enjoying the strongest growth rate in 13 years. Worldwide, credit unions are also growing and increasing their outreach. Focusing on the international credit union movement, he discussed the Minnesota Credit Union Network's involvement in partnerships and information exchanges with credit unions in Paraguay, Indonesia, Bulgaria and Cameroon.

Year-round the Network is dedicated to strengthening the credit union movement in Minnesota and beyond. To watch MnCUN's video message, visit the International Credit Union Day page of the Network website.


CUNA Board of Directors seeks nominations

CUNA is seeking nominations for open positions on its Board of Directors. Minnesota credit unions with at least 86,000 members are eligible to offer a candidate for the District 4, Class C seat. Individuals from similar size credit unions in Illinois, Iowa, Michigan, Missouri and Wisconsin can also run for the District 4 seat. 

The deadline for nominations and seconds is Friday, Nov. 16. Those elected will take office in February 2013 and will serve three-year terms. For more information and to download a nomination form, visit the CUNA Board Elections website.


Family Involvement Council offering $10,000 in scholarships

The Minnesota Family Involvement Council is kicking off this year’s scholarship program. In 2013, the FIC will award $10,000 in scholarships to credit union members continuing their education.
 
Two $1,000 scholarships and sixteen $500 scholarships will be awarded to 18 credit union members throughout Minnesota. Anyone pursuing post-secondary education in fall 2013 and spring 2014 is eligible. To apply, credit union members must complete a one-page application form and submit an essay that answers the question: "What is the best  financial advice you’ve been given or the hardest financial lesson you’ve learned? How has this impacted your life?"
 
This year’s scholarship information and applications are now available on the FIC website. The FIC is also providing online materials to help credit unions promote the scholarship program to members. Visit the Scholarships section of the FIC website to download a web banner, website article and examples of best practices on how to promote the scholarship program.


Credit union notes…

  • Last month, Red Wing Credit Union welcomed Aaron DeJong as its President/CEO. DeJong has extensive experience in the credit union movement, previously working as Executive Vice President at Accentra Credit Union for more than seven years. Prior to that, he worked with Think Federal Credit Union. DeJong replaces Don Rutten, who retired from the credit union earlier this year.