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|The Pulse (08-16-16)|
Volume 5, Issue 33
10 Minn. credit unions win awards, advance to national competitions
The Minnesota Credit Union Network (MnCUN) is pleased to announce the state-level winners of the 2016 Dora Maxwell, Louise Herring and Desjardins award competitions. These awards are sponsored each year by MnCUN and the Credit Union National Association (CUNA).
The 2016 Minnesota award-winners in the asset categories noted are:
Dora Maxwell Social Responsibility Community Service Award
Louise Herring Philosophy in Action Member Service Award
Desjardins Youth Fnancial Education Award
Desjardins Adult Financial Education Award
MnCUN received 37 award entries this year, and they were judged by the Credit Union Association of the Dakotas to ensure unbiased results. The winners in each award category now advance to CUNA’s national contest where they will compete with credit unions across the country, with judging to take place this fall.
"This year’s award-winners demonstrated creativity and commitment to the values credit unions hold dear – financial education, service to community, and extraordinary member service,” said MnCUN President & CEO Mark Cummins. “Each of these credit unions deserves recognition, and we are proud they represent Minnesota in the national competition.”
The Dora Maxwell Social Responsibility Community Service Award was created in 1987 and recognizes credit unions for the activities they coordinate that benefit the community or a specific charity. This award promotes social responsibility among credit unions by formally recognizing their achievements outside the credit union.
The Louise Herring Philosophy in Action Member Service Award is given to a credit union for its practical application of the "people helping people” philosophy in internal operations. Created in 1990, this award promotes the credit union philosophy by formally recognizing credit unions that demonstrate in an extraordinary way the application of the movement's principles in serving their members.
The Desjardins Youth and Adult Financial Education Awards formally recognize the leadership of individual credit unions and chapters in their efforts to better educate youth and adults in financial literacy.
Minnesota Credit Union Network engages in international credit union community
One of the many characteristics that makes credit unions unique is their ability to unite and work cooperatively to help credit unions and the communities they serve succeed. It is this cooperative spirit that has driven MnCUN engage in the international credit union community in a number of ways.
For more information on the Global Women’s Leadership Network or the Climate Smart Communities initiative, contact MnCUN Vice President – Governmental Affairs Mara Humphrey by email or by phone at (651) 288-5523.
OnApproach, a leading provider of Big Data and Analytics solutions for credit unions, is pleased to announce the release of its latest video case study. The case study, "Ideal Credit Union Transforms Member Rewards with OnApproach" details the successes Ideal Credit Union obtained while utilizing OnApproach's innovative data platform, OnApproach M360 Enterprise (M360).
The case study details Ideal Credit Union's (asset size: $638 Million) need of a program that would allow them to expand their product offerings in a profitable manner. Retaining a vast database of customer information, Ideal Credit Union faced the challenge of extracting and organizing this data to create beneficial programs. The ability to integrate disparate data sources in order to capture value from data analytics is crucial. OnApproach's ability to gather and integrate all of Ideal's transaction data made it possible for Ideal Credit Union to achieve success through a VIP Program which pays back members based on their value to the credit union. Since its inception, the program has gained momentum, and members consistently look forward to their payout.
"OnApproach was able to help us by looking at our transaction data, which was very beneficial in determining what profitability looks like." Remarked Alisha JR Johnson, Senior Vice President of Marketing, Sales and Service at Ideal Credit Union, adding also that "It's a program that's very unique to us. It's something that differentiates us, and is something we're very proud of because our members have made us successful, and this program helps us return the success to our members."
"Ideal Credit Union was one of our very first clients and continues to be one of our most successful. The team at Ideal has found numerous ways to use the data in M360 to deliver value to both the credit union and its members. As you will see in the video, the VIP Member Rewards program is a great example of how Ideal generates a ROI from their data while also better serving their members. We are very excited to have them as a partner of ours." Stated Austin Wentzlaff, Director of Business Development at OnApproach.
The Minnesota Item Processing Corporation (MnIPC), a wholly-owned subsidiary of the Minnesota Credit Union Network offers OnApproach solutions to clients in both hosted and service-bureau environments. For more information, contact MnCUN Director of Business Development Kris Jacobsen by email or by phone at (651) 288-5515 or toll free at (800) 477-1034.