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|The Pulse (05-28-14)|
The Pulse (05-28-14)
May 28, 2014 ● Volume 03, Issue 21
Thank you to all of our credit unions who have filed or plan to file comment letters on NCUA’s proposed risk-based capital rule. Today is the deadline for filing comment letters with NCUA.
Last week, the Network asked credit union members and employees to join a social media day focused on sharing Why I Love My Credit Union stories. Credit union advocates used Twitter and Facebook throughout the day to share their love of credit unions by tweeting with the hashtag, #whyilovemycu and connecting to the Network Twitter handle, @mncreditunions.
The statistics below are for the hashtag #whyilovemycu during the Tuesday, May 20, social media day:
Credit unions throughout Minnesota are gathering stories from their employees and members about what it is they love about their member-owned, not-for-profit financial cooperative. These stories are being shared with legislators, the media and other opinion leaders to reinforce that credit unions are unique and should be celebrated and supported by all Minnesotans.
If you haven’t already, please visit the campaign website. You’ll see stories and videos from other advocates about why they love their credit union. Then click on the “Share Why I Love my Credit Union” button on the right to communicate your own.
With questions, to order postcards, or to set up a time to record video, contact MnCUN Director of Advocacy, Ryan Smith.
The Minnesota Credit Union Foundation has resources available to assist credit unions in promoting the inaugural Financial Literacy 5K. Set for Saturday, July 12, at Lake Normandale in Bloomington, this event is a walk/run and kids run.
The Financial Literacy 5K is open to credit union staff, volunteers, members, and supporters – along with educators, non-profits, agencies, and financial literacy enthusiasts. Any credit unions, school or organization that registers five or more Financial Literacy 5K participants will automatically be “in the running” for the team award. Participants’ times will be aggregated and averaged to determine the best team time. Teams of five or more will be registered to win an award.“Minnesota credit unions excel at providing financial education to their members and their communities, but the need for additional awareness and education extends so much farther beyond just this audience,” said Minnesota Credit Union Foundation Executive Director Kristina M. Wright. “We encourage credit unions to spread the word about this event to their staff, volunteers and membership.”
Resources are available at the bottom of the Financial Literacy 5K page on the Foundation website, and include:
If you have any questions or are looking for additional tools to promote the Financial Literacy 5K, please contact Kristina Wright.
In 2013, nearly 300,000 visits nationwide were made to aSmarterChoice.org and nearly 250,000 searches for credit unions were conducted on this site. Consumers are looking for financial institutions that they can trust, and aSmarterChoice.org provides consumers the tools they need to find a credit union in their area that they can join.
However, this tool cannot be effectively used and promoted without credit unions' help.
The aSmarterChoice.org website uses news stories and member testimonials to educate consumers about credit unions. The national credit union locator on the site enables users to quickly and successfully find a credit union in their area. In addition, this website offers marketing materials that credit unions can use to promote this valuable tool. The free marketing resources available to credit unions include:
To access these powerful marketing tools, visit aSmarterChoice.org. In addition, credit unions should review their membership information posted on the website. To edit your credit union's profile, visit a SmarterChoice.org's update your records page.
Did you know? Credit unions can support professional development and local financial literacy efforts through the Community Investment Fund (CIF). For the past 15 years, the CIF investment option has been available through the Minnesota Credit Union Foundation (MnCUF) and the National Credit Union Foundation (NCUF). Through this program, investing credit unions receive 50 percent of the return, and the remaining 50 percent is split evenly between the MnCUF and the NCUF.
Investment options and features are described below.
On Wednesday, June 11, the Minnesota Credit Unions for Kids Committee (MnCU4Kids) will hold its annual Credit Unions for Kids golf tournament. Credit union staff and guests are invited to participate through individual or corporate sponsorship, and as golfers. All donations to MnCU4Kids will be used to support Gillette Children's Specialty Healthcare, helping kids with disabilities and chronic conditions.
Registration deadline is Monday, June 2.
A printable sponsorship and registration information is available on the MnCU4Kids website. If you would like to pay with a credit card please register here. Once registered online, please fill out the attached event flyer and make a note that you paid online.
With questions, please contact MnCU4Kids committee co-chair Dave Engler by email or call (651) 325-4144.
Credit Union Magazine is looking for Credit Union Rock Stars who demonstrate outstanding innovation and creativity in their chosen fields.Selected individuals are those who have made the credit union movement a better, more interesting place.
The deadline for nominations is July 7.
Credit Unions in the News
Follow the links on the stories below to read more about the outstanding programs, new initiatives and well-deserved recognition received by your peers recently. Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Connie Kuhn.
Out for Comment
CUNA Mutual Group’s MemberCONNECT Program is hosting a timely webinar for credit unions that will explore how consumers are searching, browsing and paying for vehicles in ways unimagined years ago. “Changing Lanes: The New Paths to Car Buying” will be held at 1 p.m. and 3 p.m., on Tuesday, June 3. The webinar is open to all credit unions at no cost.
“Knowing and understanding new consumer buying trends will help better position credit unions in the auto-buying process over the long term,” said Stephen Arnold, vice president of the TruStage Auto and Home Insurance program.
Three years ago, families were exposed to an average of 329 different digital ads on a typical 90-day car-shopping excursion, according to Cobalt’s June 2011 study, “A Guide to the Modern Car-Shopper Journey.” Since then, with smartphones seeing a rapid increase in popularity, that number only continues to rise. What does that mean for credit unions?
The hour-long webinar will take a generational view of car buyers, what influences them, and explore then-and-now journeys of three personas, including the first-car buyer, the family vehicle buyer and the luxury/fun vehicle buyer. The webinar will also cover technology and the empowerment it provides in the buying process, triggers for different decision points and the importance of leveraging convenience.
“Understanding consumer trends and the motivations behind choices your members make during their car-shopping journey will help derive clues to increase auto lending and market related services,” Arnold said.
Credit unions can now register online for this free webinar.