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Make things
happen with Ohio CU Foundation grants
Start a financial education
program, community outreach project, or send an employee
or volunteer to an educational event before year end
with support from the Ohio Credit Union Foundation (OCUF)!
As the philanthropic arm of the Ohio Credit Union
League, OCUF supports educational and outreach
initiatives that promote financial independence through
credit unions. In the last six months, nearly $125,000
in grants has helped credit unions improve the lives of
their members and communities. Five financial education
grants, totaling $46,241, funded student education and
awareness programs, reality fairs, and production of Biz
Kid$. Ohio credit union leaders attended 31 state and
national professional development opportunities thanks
to Foundation grants. An outreach grant assisted two
community identity theft programs that distributed
educational materials and shredded personal documents.
In addition to the 27 Ohio credit unions that benefited
from OCUF, disaster relief grants assisted credit union
employees, volunteers, and members affected by floods in
Australia and North Dakota, an earthquake in New
Zealand, and tornados in Missouri.
The Foundation started 2011 with $177,000 to grant, and
stands ready to help your credit union before year-end. Make use of OCUF to
fund your credit union’s project. Learn more about
Foundation funding opportunities at the link below.
Contact Executive Director Becky Hart or REAL Solutions
Manager Laura Busque at (800) 486-2917 or
rhart@ohiocul.org and
lbusque@ohiocul.org with
questions.
www.OhioCreditUnionFoundation.org
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“People Helping People”
defines our industry’s purpose
The credit union philosophy of serving everyone, including
the underserved, with affordable and accessible financial
services positions credit unions at the forefront of a
positive business trend. Recent research indicates that a
business steeped in philosophy, and that uses it
to drive daily business decisions, can “do good” in the
world and have a healthy bottom line. The data
debunks a popular myth and proves that reaching out to the
underserved is not an increased liability to your credit
union.
The REAL Solutions Program was developed by the National
Credit Union Foundation long before the business-philosophy
craze swept the nation. Created to capture the “People
Helping People” philosophy in action, REAL Solutions
encourages credit unions to focus on products and services
that make them the best financial option for their members
and community. While the REAL Solutions program emphasizes
serving low-wealth households, it also includes
low-income workers and individuals with moderate and middle
incomes.
Researchers at Cornell University's Center for Sustainable
Global Enterprise have found that serving underserved
households is important. “While they may be at the bottom of
the economic pyramid now, they represent future savers,
car-buyers, homeowners, and generations of credit union
members.”
Credit unions have a philosophy of encouraging financial
empowerment for members of all ages, income levels, and
ethnic backgrounds. They are also uniquely positioned to
initiate and build relationships with modest-income
households. While bankers and brokers compete vigorously for
the assets of the upper-income households, the lower end or
emerging markets are larger and can be rewarding for those
who strive to serve it.
The bottom-line is clear: Lower-income households can
benefit from credit union membership and be transformed into
the next generation of profitable members. When credit
unions offer their members relevant, effective, asset-building, and loyalty-producing (REAL) solutions, they
create a situation that offers mutually-beneficial results
for everyone involved.
What makes a REAL Solutions credit
union?
Do any of these scenarios sound like problems your credit
union is already solving? Programs it's already offering? If
so, add your name to the list of REAL Solutions credit
unions. You’ll get FREE educational opportunities that focus
on proven products and services offered by credit unions.
Lending Options
Millions of people who earn
low wages or have little accumulated wealth need access to
affordable loans with attractive terms and conditions. Many
consumers feel their only options are alternative financial
services (AFS) centers, which include payday loan stores,
rent-to-own companies, and pawn shops. Using these
expensive, and often predatory products, erodes people’s
ability to build assets or savings, marginalizing their
financial positions. REAL Solutions credit unions fulfill
the need and, as a result, are growing in membership and
loans faster than the national credit union average, and
their delinquencies and charge-offs are lower.
Savings Initiatives
America’s personal savings
rate remains poor. The reality is that many individuals find
it difficult, if not impossible, to even consider saving.
Credit unions are working to change this by helping
low-wealth households, immigrants, and youth and young-adult
members accumulate wealth. Beyond just attracting
individuals as members, savings programs empower members and
create a sense of belonging to the Credit Union Movement.
Transaction Products
Consumers turn to AFS
businesses for quick, easy cash and/or credit without the
need for standard bank accounts. Service offerings that meet
the needs of low-income consumers – particularly check
cashing and bill payment – are often not available from
traditional financial institutions. AFS providers have
stepped in to fill the gap at the expensive of the consumer.
Fortunately for members, credit unions have
financially-healthier options and serve as a bridge to
stronger standing.
Educational Opportunities
The need for financial
education is urgent. With so many financial decisions to
make about preparing a budget, buying a home or car, saving
for college, and planning for retirement, consumers need to
know how to handle money wisely. These educational
opportunities abound among credit unions.
Join the REAL Solutions initiative by contacting League REAL
Solutions Manager Laura Busque at (800) 486-2917, ext. 227,
or
lbusque@ohiocul.org. A detailed
list of product and service ideas is available on the REAL
Solutions Impact Center at the link below. Access archived
REAL Solutions webinars below.
REAL Solutions Impact Center:
www.realsolutions.coop/
Webinar archives:
www.ohiocreditunions.org/REALSolutions.htm
Watch for results of financial
literacy survey
Last month, 75 Ohio credit unions substantiated their
financial literacy and money management efforts by
participating in the 2011 Credit Union Member Education
Inventory, sponsored by the Ohio Credit Union League and
National Credit Union Foundation’s REAL Solutions program.
The 76 credit unions, representing 47% of all credit union
members in Ohio, conducted 1,682 classroom presentations
to 44,193 youth and 471 seminars/workshops for 7,287 adults.
Credit unions that completed the survey reported providing
informal financial advice to 37,059 members.
The complete results will be used to herald the extent to which
Ohio’s credit unions are improving financial literacy, money
management, and decision-making among members and consumers.
Credit unions interested in being a part of the final report
highlighting the impact Ohio’s credit unions have on their
members and consumers, can contact League REAL Solutions
Manager Laura Busque at (800) 486-2917, ext. 227, or
lbusque@ohiocul.org for a copy of
the survey.
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Make International Credit
Union Day an event to remember
Financial education is a founding
pillar of the Credit Union Movement, so why not make this
International Credit Union Day an event to remember by
celebrating the “People Helping People” philosophy with a
financial education project. The Ohio Credit Union League is
conducting a month-long financial education media campaign
in October to spotlight credit union financial education
efforts in Ohio and you are encouraged to participate by
reporting a synopsis of the event and number of lives
touched.
Offering financial education to your staff, members, and
community creates a win-win situation for all parties
involved. If consumers are better at managing their money,
they can then afford more long-term services that generate
revenue for the credit union, such as auto, home, and
educational loans. Financially-secure employees are more
productive, better equipped to assist members, and able to
recognize opportunities for cross-selling.
Students who have access to financial education are more
likely to make wise financial decisions after graduating
from high school and college. More credit unions are
embracing the unique learning experiences offered by
financial reality fairs to help students understand why
money management skills are important. "The first step
needed to improve one’s economic environment is access to
information -- and the earlier the better," said Lois
Kitsch, Program Manager of the National Credit Union
Foundation’s REAL Solutions. "Reality fairs mix fun with
learning and create a memorable experience that remains with
the students in the months and years to come."
Aside from producing long-term revenue and stellar member
service, financial education workshops, seminars, reality
fairs, and classroom visits affirm the credit union
philosophy and differentiate you in the marketplace. Look
for more information about OCUL’s financial education
celebration in upcoming editions of eLumination.
Financial education ideas
worth considering this October
Seminars and Reality Fairs
Associated School ECU in Youngstown
used a financial education grant from the Ohio Credit Union
Foundation to host its fourth annual Financial Starting
Points event, in cooperation with Junior Achievement of
Mahoning Valley and Youngstown State University. The
creative, half-day seminar motivates high school students to
make smart financial choices and learn about funding sources
to support their education goals. “We are thrilled to know
that we are making a difference in our community by sharing
financial education with students in the Mahoning Valley
area,” said Kimberly Stillwagon-Gilbert, VP of Marketing and
Business Development. Students participated in a reality
fair and attended sessions on financial aid, investing, and
credit cards taught by local business professionals,
including credit union leaders.
Classroom Visits
Valley Council CU in
Cincinnati launched an elementary and middle school
financial education program, Project Go, with a Foundation
grant. The program empowers and supports local educators who
are required to teach financial literacy, and helps students
understand the importance of wise money management skills,
according to Marketing and Business Development Director Amy Hausfeld.
The credit union developed the program after several
educators requested assistance and
financial literacy materials. It consists of six hours of
classroom instruction covering the difference between needs
and wants, budgeting, and saving, plus credit and taxes for
middle school students.
Community Partnerships
Community United CU in
Strongsville received a Foundation grant to create a
community education program in conjunction with the Western
Reserve Historical Society Education Program and Cleveland
Public Library. “We are thrilled to be a part of a community
financial education program that uses real financial
scenarios to teach financial concepts,” said CEO Julie
Gee. Four Cleveland-area entrepreneurs’ journeys to success
are told through artifacts, such as postcards, growth charts
of the business, photos, and more. The program teaches
discerning financial choices, discussing money and financial
issues without (or despite) discomfort, planning for the
future, and responding competently to life events that
affect everyday financial decisions. Students develop a
detailed budget plan for each business studied that
illustrates how/when to spend, how/when to save, and
expected expenses.
Powerful outreach tool
available for free to CUs $10M or less
Want to be a part of October’s financial education
festivities,
but are limited by staffing and budgeting obstacles? The
online financial literacy tool FoolProof may be your solution. Accessed through your credit union’s
website, FoolProof can enhance an existing relationship with
a local school, or be used in conjunction with a
second-chance checking program. FoolProof has licensed its
turn-key programs for free to all Ohio Credit Union
League-affiliated credit unions with assets of $10 million
or less. For larger credit unions, highly-affordable
packages are available. To maximize your credit union’s
outreach footprint today, visit the link below. Contact
League REAL Solutions Manager Laura Busque at (800)
486-2917, ext. 227, or
lbusque@ohiocul.org with
questions.
www.foolproofnational.com/ohiocul/
Supporting OCUF has never been
easier
Did you know the Ohio Credit Union
Foundation’s (OCUF) grantmaking efforts are funded entirely
through the generosity and support of Ohio credit unions and
their employees, volunteers, members, and business partners?
Every contribution plays a vital role in the Foundation’s
continued success. There are a number of ways that you and
your credit union become a part of the Foundation story.
Credit union or individual
donations
Every dollar contributed funds
credit union programs, projects, and initiatives that
financially empower individuals and strengthen credit
unions. Make a
direct donation.
Community Investment Fund
(CIF) deposits
Dividends earned on CIF
investments are split between the investing credit union,
Ohio Credit Union Foundation, and National Credit Union
Foundation. The new investment option created by Corporate
One FCU allows you to build an investment portfolio around a
designated earning/giving amount. The new opportunity has
already attracted significant attention since its launch
last month.
Learn more about this
win-win giving option, including an on-demand, informational
webinar.
William A. Herring (WAH)
Society
Ohio credit unions or
individuals can honor a past and present peer, employee,
colleague, or volunteer for their distinguished service and
dedication to the Credit Union Movement by nominating them
for induction into the WAH Society.
Learn more about this
prestigious recognition.
Credit Union and Chapter
Fundraisers
Fundraisers on behalf of
the Foundation make a perfect addition to awareness
campaigns that focus on the credit union difference. See a
list of
fundraising ideas and materials.
Ohio Credit Union Foundation
Classic
Join your credit union
peers for a day of golf, relaxation, networking and giving
back every August. Can’t get out the office, but still want
to participate in the annual Foundation fundraiser? Consider
being an event sponsor. Learn more about the
Classic and
sponsorship opportunities.
The Foundation does something amazing every day – it helps
credit unions make a difference in the lives of their
members and communities. With your support, OCUF will
continue achieving its mission of offering assistance when
needed, contributing to the discovery of new outreach and
financial education initiatives, and instilling in others
the relevance of People Helping People.
Upcoming Professional
Dev. Opportunities
Use a professional development grant from the Ohio Credit
Union Foundation to attend conferences, seminars, workshops,
webinars, eSchools, and self-study programs. If you are
interested in applying for an educational scholarship, visit
the Foundation website at
www.OhioCreditUnionFoundation.org
for an application and scholarship information, or contact
Ohio Credit Union League REAL Solutions Manager Laura Busque
at (800) 486-2917, ext. 227, or
lbusque@ohiocul.org.
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Hot Topic Workshop: Deposit Account Documentation &
Procedures
Sept. 14 -- Columbus, OH
This half-day workshop will focus on the current
regulations affecting deposit accounts, as well as
techniques to improve your credit union's documentation
and procedures. |
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Volunteer Certification School
Sept. 25-30 -- Tempe, AZ
Learn the philosophical and financial topics needed to
strengthen decision-making responsibilities. |
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Collections and Bankruptcy Update
Oct. 11 -- Columbus, OH
Examine the current state of consumer collection and
bankruptcy issues, and up-to-the-minute information on
changes to Ohio's environment. |
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Experience Learning Live!
Oct. 16-19 -- Las Vegas, NV
The nation’s credit union human resource and training
professionals will network, share ideas, and learn about
building a solid foundation for their organizations. |
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Regulatory Compliance Update
Oct. 19 -- Columbus, OH
Stay up-to-date with the most recent regulatory
compliance changes. |
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Community Credit Union and Growth Conference
Oct. 24-27 -- San Francisco, CA
Explore ways your credit union can thrive and serve more
members, including the young, ethnic, and underserved.
Learn how to make a strong impact in your community and
build a better tomorrow. |
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Security & Fraud Institute
Oct. 30-Nov. 2 -- Austin, TX
Take steps to ensure that your credit union is never an
easy target for scams, robberies, internal fraud, or
identity theft. Learn how to raise the level of
protection for your credit union and members. |
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Ohio Marketing Network
Nov. 9 -- Columbus, OH
This one-of-a-kind peer group for credit union marketing
and business development professionals offers an
opportunity to share ideas, network, and learn tips and
tricks to make help make your credit union as successful
as possible. |
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Hot Topic Workshops: Fraud Policies & Prevention
Nov. 16 --
Cincinnati, OH
Nov. 17 -- Toledo, OH
These half-day workshops will explore various forms of
fraud, how to improve internal controls to stay
compliant, and effective fraud policies that
significantly reduce the possibility of becoming a
victim. |
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Get your own copy
of
Above and Beyond
If you've received this eNewsletter from a colleague and
would like to receive your own copy, simply request to be added to
the distribution list. E-mail League REAL Solutions Manager Laura Busque
at lbusque@ohiocul.org
and let her know you'd like to receive Above and Beyond.
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2011
Community Investment Fund Participants
Thanks to the following
credit unions and support organizations for their CIF
investments through June 30.
Note: All CIF investors should contact Corporate One FCU
(866-692-6771) to discuss the new investment model since
the current CIF option is no longer available.
Associated School ECU
AurGroup Financial CU
Bay Area CU
BMI FCU
Buckeye State CU
Burger FCU
Butler Heritage FCU
Cardinal Community CU
Cincinnati Central CU
Cincinnati Police FCU
Classic FCU
Clyde-Findlay Area CU
CME FCU
Communicating Arts CU
Community United CU
Corporate One FCU
Credit Union of Ohio
Credit Union Outreach Solutions, Inc.
Day Air CU
Dayton Firefighters FCU
Directions CU
Dover-Phila FCU
Education First CU
Faith Community United CU
Fiberglas FCU
Firefighters Community CU
FirstDay Financial FCU
Geauga CU
Genesis ECU
Glass City FCU
GROhio Community CU
Harvest FCU
Hopewell FCU
Jeep Country FCU
Kemba CU
KEMBA Financial CU
Kent CU
Kyger Creek CU
Mercy Health Partners FCU
Midwest Community FCU
Millstream Area CU
Ohio CU Foundation
Ohio Educational CU
Ohio HealthCare FCU
Ohio University CU
Our Lady of Angels FCU
Parish FCU
River Valley CU
Sharefax CU
State Highway Patrol FCU
Superior FCU
Taleris CU
TeleCommunity CU
Tiffin St Joseph FCU
Toledo Postal ECU
TopMark FCU
Total Assurance FCU
TPS CU
Tuscarawas Schools CU
Universal 1 CU
VacationLand FCU
Western CU
Wright-Patt CU
Every investment helps support educational and outreach
initiatives that promote financial independence through
credit unions.
2011 Ohio Credit Union Foundation Contributors
Thanks to the following
credit unions and business partners for their 2010
contributions to the Ohio Credit Union Foundation, as of
June 30, 2011. Their generous contributions are used by
the Foundation to support
educational and outreach initiatives that promote
financial independence through credit unions.
Credit Union & Business Partner
Contributors
Philanthropist ($5,000 and Up)
American Share Insurance
Directions CU
Patron ($2,500 to $4,999)
GenFed Financial CU
River Valley CU
Friend ($1,000 to $2,499)
Associated School ECU
AurGroup Financial CU
Buckeye State CU
Cardinal Community CU
CES CU
Chaco CU
Cincinnati Central CU
Cincinnati Police FCU
Cintel FCU
CODE CU
CSE FCU
Education First CU
First Ohio CU
FirstDay Financial FCU
FirstEnergy Family CU
Members First CU
Midwest Community FCU
Ohio Catholic FCU
Ohio Educational CU
Ohio Valley Community CU
School Emp Lorain Co CU
Sharefax CU
Superior FCU
Unity Catholic FCU
Western Buckeye Chapter
Western CU
Supporter ($500 to $999)
AP FCU
Bay Area CU
Champion CU
Communicating Arts CU
Community First CU
Community Star CU
Eaton Family CU
Fiberglas FCU
Jeep Country FCU
Kent CU
Marion Community CU
Medina County FCU
ProMedica FCU
Riverview CU
State Highway Patrol FCU
State Transportation ECU
Steel Valley FCU
Sun Center FCU
The Massillon Area CU
TPS CU
Wayne County Community FCU
Donor (Up to $499)
540 IBEW CU
ACME FCU
AllWealth FCU
Athena CU
Atrium CU
Bailey Controls FCU
Bardes EFCU
Brook Park Municipal EFCU
Burger FCU
Burgess & Niple ECU
Butler Heritage FCU
C.C.C. Van Wert CU
CANDO CU
Central Ohio Chapter of OCUL
Central Ohio Community CU
Children's Medical Center FCU
Chivaho FCU
Cincinnati Chapter of OCUL
Cincinnati Interagency FCU
Classic FCU
Cleveland Police CU
Columbiana County School ECU
Commodore Perry FCU
Community United CU
Coshocton FCU
Credit Union One
Dairy Pak ECU
Dillonvale FCU
Dynamic FCU
East Ohio Gas Yo Division EFCU
Edison CU
Eight FCU
Faith Community United CU
First Choice CU
First Miami University Student & Alumni FCU
Formica-Evendale FCU
Genesis ECU
Girard CU
Globe Industries ECU
Goodyear ECU
Great Lakes CU
Greater Abyssinia FCU
Hamilton County School ECU
Heekin Can ECU
Industrial Distributors FCU
Kennametal Orwell EFCU
KRATON Belpre FCU
Kyger Creek CU
Lakewood Fire Fighters CU
Lane Metropolitan CME CU
Latvian Cleveland CU
Libbey FCU
Lima Ohio Postal EFCU
Local 50 Plumbers/Steamftrs FCU
Local Union 392 FCU
Marysville Goodyear EFCU
Maumee Educators FCU
Mercy Health Partners FCU
Middletown Area Schools CU
Millstream Area CU
Minerva Area FCU
Morrow County FCU
Morton Salt CU
Motorists Insurance ECU
Nickel Steel FCU
NoteWorthy FCU
OARDC ECU
ODJFS FCU
Ohio Operating Engineers FCU
Ohio Teamsters CU
PACO FCU
Painesville CU
Parish FCU
Port Conneaut FCU
Producers ECU
Rocky River School EFCU
RTA Brooklyn FCU
RTA Hayden FCU
S & J School EFCU
S.T.O.F.F.E. FCU
Sandusky Ohio Edison EFCU
SCFE CU
SF & M ECU
Sherwil CU
Shiloh Baptist Church FCU
SMART FCU
Softite Community FCU
Solon School EFCU
Sorg-Bay West FCU
Southeastern Ohio CU
St. Columbkille FCU
St. Julie Billiart FCU
St. Paul AME Zion Church CU
St. Paul's Parish FCU
St. Therese/SS Peter & Paul FCU
Stark Metro. Hous. Auth. FCU
Struthers FCU
Sts Margaret & Gregory FCU
Sugardale CU
Taleris CU
The Way CU
Toledo Police FCU
TopMark FCU
Total Assurance FCU
Trailview FCU
Tri-County CU
Tuscarawas Schools CU
United Telephone CU
UPS CU
UTU FCU
Valley Council CU
Valley One Community FCU
West Holmes School ECU
West Stark Community FCU
Western Region FCU
Whitewater Community CU
Wilberforce University FCU
Wiremen's CU
Woodco FCU
Wright-Dunbar Area CU
Yorkville Community FCU
YS FCU
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