ICUL Service Corporation
 

 

     LEAGUE             

DIRECTORS' REPORT

Illinois Credit Union League                                     October 2014

Feature Story...

 

League, IL credit unions, chapters engaged in

100 Million Member celebration campaign

 
As we are sure you are already well aware, the credit union movement is celebrating an historical milestone: credit unions have reached and surpassed 100 million memberships nationwide!
 

With the 100 million member mark, this means that one of every three Americans (over 60 million voters) have now joined a credit union.

"The 100 million member (100MM) mark presents an undeniable opportunity to reach out to consumers, small businesses, and elected officials, as well as our own members about the value proposition of credit unions," said William Wille, ICUL PR Coordinator and Taskforce Chairman.

To that end, ICUL has designated a public relations taskforce from every geographical area of the state to maximize this opportunity.  By having a well-rounded taskforce, our end goal is to leverage as many PR opportunities as possible to communicate the magnitude of the credit union movement to consumers.  The taskforce is comprised of staff from League departments and individuals from credit unions from throughout the state.

The task force's plan is to significantly ramp up media and PR events and opportunities, and credit union awareness as we approach International Credit Union Week (October 12-18, 2014), when the campaign will reach its crescendo.   The activities have included:

Statewide press releases issued by ICUL and taskforce members.

"Selfie" week via the Web site, AmericasCreditUnions.org including asking members to participate in posting selfies to this Web site.

Social media push and letters to the editor to be made available to credit unions and their members.

*  A large focus on International Credit Union Week (October 12-18, 2014), with particular emphasis on October 14) where "cash mob"-like activities will take place.  The League this year has partnered with "CU
Lunch Local".  Launched by the Michigan Credit Union League two years ago, CU Lunch Local aims to put thousands of dollars back into the pockets of Main Street businesses with its nationwide cash-mob program that also promotes the credit union difference where credit unions.  This year, the effort will take place in 11 states across the country, including Illinois.

 

Random acts of community service/kindness/"Paying It Forward"


On an on-going basis, the campaign will also work to leverage credit union "good news" stories for publicizing via AmericasCreditUnions.org Web site, on social media, and reporting back to state and federal lawmakers as key examples of how credit unions are serving constituents in their respective districts.

Continue to watch for ICUL's upcoming updates and announcements in celebration of the 100 Million Member milestone.  For any questions regarding ICUL's participation in the campaign, please do not hesitate to contact William Wille, ICUL PR Coordinator.

 

 

IMMEDIATE ACTION NEEDED

Action Alert on Data Breaches

 
The Credit Union National Association has launched a national action alert on data breaches. Please mobilize your credit unions' employees, volunteers and members to raise awareness on Capitol Hill about the harmful effects of these breaches on credit unions and their members.

The StoptheDataBreaches.com Website
has been developed for activists to get more information and to take action.  An extensive toolkit of resources has been developed for your use in communicating the message "Stop the Data Breaches."  The tool kit is available on CUNA's website.   ICUL strongly encourages you to respond to this alert.

The data breach topic was a focal point of the recently completed Illinois Credit Union League's Hike the Hill.  Members of Congress, as well as their staff, found the preliminary data breach cost numbers shared during the Hill visits to make a very compelling argument for reforms.  Your assistance in compiling the costs to your credit union and its member owners will help strengthen our arguments.

 

Important News

 

IL young professionals host inaugural gathering

 

CU Reach held its first Young Professionals Conference for a sell-out crowd of 70 participants September 15-16, 2014 at the Illinois Credit Union System Center.

"The YP Conference was a great learning experience.  I feel that the conference's agenda was right on par with my new position with my credit union.  With tips on networking and goal setting, I am able to incorporate some important things into my new career," said Brandy Bockewitz, marketing coordinator at Land of Lincoln Credit Union in Decatur, Illinois.

Topics included "History & Philosophy of Credit Unions", "Your Personal Brand on Social Media", and "Young Professionals as Future Leaders".  Participants expressed their thoughts, feelings and opinions throughout the conference using a text polling system regarding a variety of topics.  The responses were displayed live onscreen for everyone to see.

During the "CU Executives Panel", participants were given the opportunity to learn and get advice from industry veterans.  "My favorite was CU Executive Panel.  It was nice to have CEO's from different sized credit unions, men and women, share their stories, history, challenges, concerns and advice through a discussion," said Anna Lee, marketing manager at Credit Union 1 in Rantoul, Illinois.

One of the panelists, Patrick Basler, CEO of First Financial Credit Union in Chicago stated,  "I was honored to share ideas with our movement's young, bright minds.  For those of us that have been leading CU's for a number of years, it's great to see the next generation committed and excited about our movement."

"I was impressed by the dynamic enthusiasm displayed by the young professionals who attended the conference as well as those who planned the event.   I have no doubt they will fuel the growth of the credit union movement," said Sean Hession, CEO, Illinois Credit Union System.

The inaugural Young Professionals Advisory Committee developed, planned and hosted the conference.  CU Reach is committed to recruiting and retaining young professionals to inspire life-long careers in the Illinois credit union movement.icul logo

  

OGC hosts successful Attorneys' Conference. 


The League's Office of General Counsel held the 37th rendition of its annual Attorneys' Conference on September 19-20, a very beneficial event for attorneys that represent credit unions and other financial institutions, as well as their compliance officers.

This two-day conference was held once again at the Hyatt Lodge Hotel in Oak Brook.  Following a welcome by Stephen Olson, ICUL EVP, General Counsel & COO, the agenda included timely presentations by fellow attorneys on the subject matters of mortgage rules, debt collection practices, credit reporting requirements, time management tips, ethics in the mobile world, scam investigations from the postal inspector and bankruptcy developments.

As part of the second day, Olson also facilitated dialogue about the Illinois legislative arena.  ICUL Associate General Counsel Lynn Esp closed out the conference with an open forum to provide an opportunity for attendees to discuss matters of mutual interest.

Educational Opportunities

 

Participants of the Successful CU Survey Tips QuickBites on October 9 (Session Code: 649) will learn how to effectively conduct member surveys to obtain feedback to help guide the credit union's decision making and marketing strategies. They will also learn about the various demographic, marketing, member loyalty, and other factors affecting credit unions.

It is easy to take a loan application from a member and pick it apart and find ways to turn it down. Utilizing prudent underwriting practices, having an appropriate mix of loan products, and hiring the right loan officers go a long way to helping credit unions find ways to make loans.  Find out more at the Let's Find Ways to Make Loans- Not Turn Them Down telecourse on October 15 (Session Code 650).

The Director and Officer Liability Quickbites on October 21 (Session Code 651) will prepare the director and officer for their legal responsibilities in the roles they play at the credit union. Presenter John Porter will identify potential liabilities directors and officers face under Federal and State law including FIRREA. The goal is to provide the audience with ways that directors and officers can minimize potential liability.

Imaging technology changes are advancing as rapidly as other IT areas. These changes introduce new features and conveniences on an almost daily basis. The Defining Trends in Image Technology QuickBites on October 22 (Session Code 608) will cover advances in imaging including office productivity, mobile device, and paperless/document imaging advances.

How the times have changed, to say the least is an understatement, especially when it comes to technology. One technological change is the telephone. From old time party lines, to today's smart phones, the technology is quite different. Despite the difference, telephones still do the same thing.  During the Telephone Skills Quickbites on October 23 (Session Code 652), participants will learn skills to be successful, efficient and effective when using the telephone.

Protecting the credit union's most valuable assets - member information - is at the forefront of today's financial institutions. The Data Loss Prevention QuickBites on October 28 (Session Code 653) will focus on how a well-defined data loss prevention solution will protect a credit union from a disastrous data breach. Learn the CAMEL rating impact of a data breach and how it's impacted other financial institutions. We'll discuss tips, best practices and methodologies including the latest technologies and mobile devices.

Interest rate risk, credit risk, concentration risk, liquidity risk...they all pertain to the widget we produce - our loans. Speaking of widgets, our accounting measures are steeped in the manufacturing era. Now that we are in full swing in the information era - how are you managing and measuring your risk to reputation?  Tune in to the Managing & Measuring Your Reputation Risk QuickBites on October 30 (Session Code 654)  to hear how!

 

Looking ahead to next month, the Why Can't We All Just Get Along? QuickBites on November 4 (Session Code: 663) will explore: What managers can expect from Generation Y or the Millennials; How NOT to manage today's younger generation; Respecting issues among generations; Identifying best practices for meeting the demand of today's workforce generations, and much more.

On-going resources include on demand training for the Bank Secrecy Act and Financial Exploitation of the Elderly.

For the complete calendar, please see the League's Web site
 
 
 
 
 
 

Dates, Events and other Items...


The World Council of Credit Unions has announced the 2014 International Credit Union (ICU) Day® theme.  On October 16, credit unions around the world will embrace the notion of "Local Service. Global Good.™" Take part in this powerful credit union message and celebrate the important part that your credit union - and your members - play in your community. ICU Day is celebrated annually on the third Thursday of October.  Please contact William Wille for assistance in planning your International Credit Union Day

2015 Annual Convention - save the dates!
Planning for the 85th Annual Convention is well underway. Next year's event will be held April 16-18, 2015 at the Renaissance Schaumburg Convention Center Hotel. The theme will be, "Recipe for Success!"  Save these dates, inform your board members, staff and plan on attending this premiere annual event. Details will be forthcoming.

With fall here, it's a good time to think about
strategic planning.  Your regional directors have a variety of planning options to meet individual credit union needs.  Experienced facilitators can provide both basic planning and strategic planning.  Call Regional Management at extension 3422 for further information.

 

  

    

Getting paid to grow your program? 

  

LSC® has always proclaimed its philosophy of "Helping Credit Unions Compete" and its recent campaign "Get Paid to Grow Your Program," is an example in action.

LSC's "Get Paid to Grow Campaign" is an innovative, incentive program designed to generate credit card acquisition and growth, with a unique twist, paying the credit union $4 per account for every new account.

"We looked at what our credit unions were doing to grow their credit card programs and realized LSC could step up to the plate and really cause a change," according to Phillip Seely, Portfolio Development Manager. "We wanted to take a partnership approach that would require participation from the credit union yet provide them with a full turnkey solution with definite rewards."

LSC first prepared a Performance Snapshot for the credit union to identify challenges and benchmarks. In addition, they required credit union to choose one of the four full-scale marketing campaigns to be eligible for the payoff - $4 per new account added during their 90-day campaign. The campaigns included FREE marketing kits, member statement inserts, web banner ads and a fully customized Balance Transfer Promotion, including implementation, comprehensive goals, strategies, and success monitoring.

According to Seely, early results show that credit unions who were the first to sign on have experienced double-digit increases in new account openings and an average increase in total outstandings of over 14%. A couple of statistics that really stand out for us are; participating CU's are experiencing an average increase of 65.8% in new accounts opened compared to last year, and to date, we have had over 85 credit unions across 25 states taking advantage of this promotion.

Credit unions interested in hearing more of what LSC is doing and "Helping Credit Unions Compete" can be found at www.lsc.net.

 

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

 


Our Mission: To Serve You