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FREE financial literacy telecourse series, sign up now! Call Melanie
(800)942-7124 x3414
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(800)942-7124 x3216 |
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ANNOUNCEMENT 
Insight is the new Illinois Credit Union League electronic newsletter exclusively for the small asset size credit union, defined as credit unions under $20 million in assets.
We realize the CEO's of small asset size credit unions know better than anyone that time is of a premium. That's why we developed Insight, to give you fast and easy access to information. Whether you are looking for ways to reach out to the underbanked, or you've been wanting to add products, we've got it covered.
Please take a moment to browse and send us your feedback. Your comments and suggestions are important, and will help us build on the products that the League delivers to small asset size credit unions.
If you have any topic suggestions for upcoming editions, please send me an email at joni.senkpeil@ilcusys.org. I look forward to hearing from you.
Sincerely,
Joni Senkpeil
(630)983-2723 | |
SERVING LOW WEALTH HOUSEHOLDS.. Did you know....
- An estimated 10 million American households do not have a bank or credit union account and turn to payday lenders, check cashers, pawn shops, etc.. to meet their financial needs.
- Payday lenders were virtually non-existent in Illinois prior to 1995. Today, you will find more than twice as many predatory lenders than McDonalds and Burger Kings, combined.
- The average annual percentage rate for payday loans in Illinois is 403%
Credit unions can compete and win against predatory lenders by offering your members, and potential members, a reasonable alternative, and in the process help your members reach a healthier financial future.
An increasing number of credit unions are investigating how to help the underserved, youth and other limited-means consumers. In support of these efforts the Illinois Credit Union League and Illinois Credit Union Foundation have teamed up with the National Credit Union Foundation to bring you REAL Solutions. The Real Solutions program offers participating credit unions dozens of new products and services that have proven successful in reaching real people with real needs. Introductory sessions will be held March 11 in Springfield and March 12 in Naperville. Get all the details |
 RAISING PUBLIC AWARENESS | |
 PRODUCT SPOTLIGHT
The Credit Union Instant Issue Visa Gift Card
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More and more consumers are opting to give and receive gift cards...If you don't have gift cards available at your credit union, you may be loosing out!
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Gift cards are HUGE sellers around the major gift giving holidays, but there's also a steady year-round demand thanks to birthday's, anniversaries, etc.
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According to a recent survey, 98% of youths ages 14-19 have received or purchased a gift card.
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Consumers spent $26.3 billion on gift cards during the 2007 holiday season.
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Accepted anywhere Visa cards are welcomed.
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Simply order cards in multiple of 25. The ICUL Customer Service Team will ship your cards (inactivated) and walk you through the process. It's easy!
- Cost to the credit union: $1.25 per card plus shipping. Credit union sets the retail price. No start up costs, no software to purchase. Learn More
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SAVE THE DATE
Blazing New Trails is the theme for the Illinois Credit Union League 78th Annual Convention at the Chicago Hilton and Towers. April 17-19. This year's round-up will yield a bonanza of new ideas for you to take back to your ranch! More details (Scholarships available) | | |
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THE PATH TO SUCCESS: PLANNING
 The pressure is on. Competitive, regulatory and economic challenges reach every credit union..every day. In order to survive and continue providing your members with superior service, it is important to examine strengths, weaknesses, opportunities and threats associated with the financial marketplace. Basic planning sessions are part of your league dues and free of charge. Your regional director is an experienced facilitator and can bring a wealth of credit union knowledge to the planning table. Find my Regional Director |
| The Small Credit Union Resource Center is an online tool for smaller credit unions. .Check it out | |
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