ICUL Service Corporation
 
ICUL League Directors Report
 
 
       LEAGUE             
DIRECTORS' REPORT
Illinois Credit Union League                                                 August 2015

   
Feature Story
  
ICUL's own Joe Lyons had the honor of throwing out the ceremonial first pitch to Chicago White Sox pitcher John Danks at the 2nd annual "Credit Union Day" event on August 10, 2015.

Illinois CUs sing: 'Take Me Out to the Ballgame!'

2nd annual event hits 'home run'
 
  
As a follow up to last year's successful inaugural baseball event to raise awareness of the Illinois credit union movement, the Illinois Credit Union League (ICUL) saw more than 500 credit union advocates gather for its second annual "Illinois Credit Union Day" at Chicago's U.S. Cellular Field.
  
This year's event, held on August 10, 2015, was also attended by members of the Illinois Third House and the Illinois Legislative Chicago White Sox Caucus as the Chicago White Sox beat the Los Angeles Angels 8-2.
  
Joe Lyons, a true supporter of credit unions, threw out the ceremonial first pitch prior to the game.  Lyons, a resident of Chicago, is a well-respected former state lawmaker and volunteer board member of Credit Union 1 for more than 25 years.  He most recently served as Illinois State Representative representing the 95th House District from 1996 - 2013, including as assistant majority leader.  Shortly thereafter, Lyons began working with the ICUL staff, where he has been serving as a key advocate for Illinois' credit unions at the Illinois General Assembly.
  
Among the other VIPs who attended the game were approximately 20 state legislators, Illinois State Comptroller Leslie Munger and Illinois State Treasurer Michael W. Frerichs, as well as Cornerstone Credit Union League CEO Dick Ensweiler.  Illinois credit unions were also highlighted with a welcome message on the stadium's main scoreboard during the second inning of the game.
  
"This event was a tremendous opportunity to highlight Illinois credit unions," said Tom Kane, ICUL President/  CEO.  "With more than 100 million members, credit unions will continue to utilize high profile opportunities like this to tell their story of how they make a difference every day in the lives of their members."
  
To view pictures from the event, please click here.
  
Important News
  
ICUL's SAS conference sees full house
  
Nearly 70 executives from around the state took center stage for the League's annual Small Asset Size (SAS) Credit Union Conference.  The two-day, highly popular gathering was held at ICUL's offices in Naperville August 4-5 for credit unions up to $40 million in assets.
  
Many topics centered on helping small credit unions compete in today's marketplace.  There was also ample time for attendees to network and share best practices.
  
Main highlights included a regulatory panel of speakers from the NCUA and the Illinois Department of Financial and Professional Regulation (IDFPR), who provided a candid dialogue with the group.  The conference then continued with presentations by Ron Jones, Economic Development Specialist from NCUA's Office of Small Credit Union Initiatives (OSCUI) and a "New Product Panel" that included staff members from ICUL who announced ICUL's new comprehensive online compliance resource, "Accomplus" and LSC staff who discussed trends and opportunities for credit unions in the mobile space. Before concluding the opening day with a welcome reception, Cheri Dial, advisor with Edward Jones led a discussion on "Charitable Donation Accounts."
  
Day two of the conference included a series of panel discussions. The first entailed peer-to-peer and sharing of success stories.  The second panel on "Forming a Partnership," told the story of how four small credit unions worked collaboratively to form Partnership Financial Credit Union.
  
"I am very excited about the role the Illinois League plays as a strategic partner to help our small credit unions survive and thrive in today's competitive marketplace," said Tom Kane, ICUL President/CEO.  "Small credit unions play a fundamental role in the credit union movement and this conference helps to address their common challenges year after year."
  
More than 75 percent of ICUL's affiliates are represented by credit unions listed at $40 million or less in assets.  Since its inception in 2002, ICUL has offered this conference every year.  This year's event was sponsored by the Illinois Credit Union Foundation and CUNA Mutual Group.
  
To view photos from this event, please click here.
  
Embrace with Members
 
The World Council of Credit Unions has announced the 2015 International Credit Union (ICU) Day® theme is "People Helping People," embracing the longstanding credit union philosophy. ICU Day is celebrated annually on the third Thursday of October and will take place this year on October 15, 2015.

Since appearing in several past ICU Day themes from the 1960s and 1980s, the phrase's meaning has stood the test of time. By adding a modern and colorful design, ICU Day celebrations this year have potential to raise awareness of credit union benefits and ultimately attract more members worldwide.
  
Official ICU Day graphics and posters in English and Spanish, as well as promotional materials and other tips are available for download on the World Council's website at www.woccu.org/icuday.  Mark the date and start making plans today!
  
  
Join the Illinois movement for an
International Credit Union Week PR blitz!
 
Speaking of International Credit Union Week, Illinois chapters and credit unions statewide are being called upon to participate in one-day PR events - CU Lunch Local and "Pay It Forward."
  
These events, scheduled for October 13, 2015 (the Tuesday of International Credit Union Week) are being held once again to drive positive awareness of credit unions in their local media and on social media, and at the same time, support local businesses.
  
As a follow up to last year's statewide PR campaign to celebrate 100 million memberships, which included our state's inaugural participation in CU Lunch Local, several chapters and credit unions have expressed interest in participating again.  CU Lunch Local is a "cash mob" where people spend money at local businesses with the goal of supporting them and encouraging others to buy local.  What better way for credit unions, which are locally-owned themselves, to celebrate ICU Week than by showing their support for local businesses and creating significant awareness!
  
Participating is as easy as pie (In fact, buying a pie at a local bakery would be a great way to take part).  Just commit to spending money with local businesses on October 13. Pick up coffee for your entire branch at a local café in the morning.  Take your crew out to lunch at a local deli that day. Anything that shows support for locally-owned small businesses - and leverages your local and social media outlets!
  
Another variation of this one-day blitz could include "Paying It Forward".  This activity starts as the same concept of CU Lunch Local.  The twist is to then give the person whose bill you paid a nominal amount of funds (e.g., $10 cash or a $10 Visa card) and tell them to "pay it forward" by helping someone or doing someone a favor with their new found funds.  Afterwards, ask them to share their story of how they helped others.
  
These activities have attracted many great PR stories of credit unions and their members doing good in their communities!
  
While a group-coordinated effort is encouraged, the possibilities are many and the variation is up to you.  For now, please convene a quick discussion with your fellow credit unions and chapter leaders about getting involved on October 13.  Then, let ICUL PR Coordinator William Wille know of your plans.  A planning checklist, tips and other assistance will be provided from there.
  
We're looking forward to a great celebration!

 

 

 
 
Educational Opportunities
  
Big Data seems to be the biggest buzz word. The Big Data QuickBites session, to be held on August 18 (Session Code: 622), will help demystify what Big Data is and help you use it to build relationships with your members. Big Data is the concept of harnessing the knowledge you have on your members to help them get what they need now and in the future.
  
Financial institutions are required to comply with a variety of regulatory requirements, which are enforced by multiple authorities. Complying with the requirements of the NCUA, FDIC and the CFPB can be a daunting task. Couple these requirements with ongoing actions of 'The Fed,' and it's easy to see why financial institutions continue to experience compressed margins. Join us for Regulatory Updates - NCUA, The Fed, FDIC, & CFPB on August 25 (Session Code: 624) as we explore the latest regulatory challenges.
  
Join us for the New & Used Vehicle Lending QuickBites on August 27 (Session Code: 625) for a look at the auto lending landscape.  This session is designed to help attendees think of new ways to stay competitive during the full lifecycle of a vehicle loan. Attendees will take away: An up-to-date overview of the auto lending industry, including key industry stats; Tips and tools for addressing the various risks involved in auto lending; and much more.
  
The Deposit Account Regulations QuickBites on September 1 (Session Code: 634) will cover the federal regulations that affect how credit unions offer share account products and include discussions on regulations regarding funds availability, reserve requirements, electronic funds transfers, UCC issues, and Truth-in-Savings.
  
Every credit union needs a robust loan workout system in place. This essential area is at the cross roads of member service and regulatory scrutiny. The current economy as well as lack of planning is putting many of your members at risk -- but your credit union is in a unique position to assist them. Are you ready to help both the member and your credit union weather this storm? From extensions, to deferments and re-aging, to refinancing and short sales, there are numerous ways to work with members during their tough times. Join us for the Loan Modifications QuickBites on September 3 to learn more (Session Code: 635).
  
There is a wealth of important information contained in your application data. During the What If? Planning Using Loan Application Data QuickBites on September 9 (Session Code: 636), we will discuss strategies for unlocking this information to gain key insight into production volume, pricing decisions, and loan quality distribution.
  
When it comes to succeeding online, it's important that you have a strategy that looks at the big picture. For many credit unions, that means evaluating your Destination (most likely your website), the Conversation (what you're saying on the web, and what it's saying about you) and your members' Location (such as the mobile device). When utilized collectively, it increases the chances of being successful online. At the Three Components of Success On-Line DCL QuickBites session on September 14 (Session Code: 637), you'll learn why these three elements are no longer able to stand on their own, and how each of these three elements plays off one another to create a complete online strategy.
  
New on-demand for 2015 is H.B. 5342 - BOD & Supervisory Committee Training.  H.B. 5342 was initiated by the League to provide consistency and clarity in the credit union regulatory exam process. H.B. 5342 requires that each credit union board director must understand the credit union's financial statements. Sign up for this important training today (Session Code: 419).
 
Other on-going resources also include on demand training for the Bank Secrecy Act and Financial Exploitation of the Elderly. 
  
In addition, the audio archive of all QuickBites and telecourses is 60 days with paid registrations!
  
For the complete calendar, see the League's Web site.
                             
    
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For credit unions with under $100 million in assets and
fewer than 10,000 members who sign up before October 15, 2015.
   
  
Today's members are looking to be more connected with the promise of adding more convenience to their life.  A good mobile app needs to reach your members and respond to them at just the right time wherever they are.
  
CU Mobile Apps, a leader in credit union mobile app development, is the single touchpoint to letting your members know the credit union is always there for them.  With Remote Deposit Capture, 2-way communication, mobile loan requests, rates and more, CU Mobile Apps literally puts the power of your credit union's branch in every member's hand.
  
Now is the time to respond.  Beginning August 15, 2015 through October 15, 2015, credit unions that sign up for our complete mobile strategy will realize an immediate savings of $3,295!  That's because, during this limited 60-day window, CU Mobile Apps is extending an exclusive offer to waive all up-front mobile app development fees for credit unions less than $100 million in assets and fewer than 10,000 members!
  
CU Mobile Apps is a comprehensive member relationship tool, fully customized for every credit union.  In just four-to-six weeks, your app can be live in all the app stores providing that connection with your members in a way that truly meets their needs.
  
A mobile solution isn't just the future for credit unions - it's right now!  Register today for CU Mobile Apps' FREE, no obligation webinar to see all the robust features it has to offer.  For more information, visit our website at www.cumobileapps.com  or call 800-942-7124, ext. 3403.
DATES & EVENTS 

 
Get the Latest Legal Updates.  We encourage you to attend ICUL's 38th Annual Attorneys' Conference, which will be held in Oak Brook on September 18-19.  Designed for credit union attorneys, this conference provides an annual update on laws, regulations and judicial decisions impacting the operations of credit unions you assist.  For more information about the conference including hotel arrangements, please contact the Office of General Counsel.
  
Just for Young Professionals.  After achieving a sold out inaugural event, CU Reach will be holding its second annual Young Professionals conference in Naperville on September 22-23, "Totally Credit Unions".  Come prepared for a 1½ days of meaningful content, interactive discussion, and networking opportunities with your credit union peers throughout the state. We challenge you to step outside of the conventional conference norms and be a voice that contributes to the buzz brought on by this memorable experience! This conference is tailored to any Young Professionals (up to age 40-ish) in the credit union industry that values the CU philosophy of people helping people, that wants to innovate and grow within their credit union! Space is limited. Register TODAY!
  
A New Opportunity for Women.  Join us for the Women's Leadership Conference, to be held on October 6 at the Morton Arboretum in Lisle.  This first-of-its-kind event is open to all women in the credit union movement and will focus on developing and enhancing leadership skills, and empowering women to achieve their goals.  There will be many great speakers and opportunities for networking.  Full conference details will be available via the League's Web site and sent to all credit unions this month.  Join us for this unique gathering
  
  
 
Offer Free Mobile Services to Build Loyalty
   
The question many credit unions must answer about mobile banking services is no longer whether to offer them. That's now a given. The new big question is: How can we use mobile services to build more loyal relationships that directly add to our bottom line (unlike the most commonly used mobile services)?
  
Mobile banking has strong potential for generating income because it appeals most to members who are in-or about to enter-their prime years for consumer loans, mortgage loans, credit/debit cards, etc.
  
According to a Federal Reserve 2014 survey* of mobile phone users who have bank accounts, the two age groups with the highest percentage of mobile banking users were 18 to 29 (60%) and 30 to 44 (54%). It's also worth noting that respondents in the 30 to 44 age group had the greatest increase in mobile banking usage from 2013 to 2014 (43% to 54%); while the second-highest increase was the 45 to 59 group (25% to 32%).
  
Leverage the services that attract the most traffic
 
The survey also measured the percentage of mobile phone users who said they'd used specific mobile banking services. Ninety-four percent said they'd checked their account balances or a recent transaction. The next two most popular actions were downloading the financial institution's mobile banking app (71%) and transferring money between bank accounts (61%).
  
To read the full article and learn more, please click here.
  
CUNA Mutual Group Report
  
The 3rd Quarter 2015 Report is now available.

Illinois Credit Union League

 

1807 W. Diehl Rd. Naperville, IL 60563      225 S. College, Suite 200, Springfield, IL 62704

(800) 942-7124      http://www.iculeague.org

 

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