ICUL League Directors Report
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Illinois Credit Union League March 2014
"Don't Tax" hailed as "big, big win"
Social media takes center stage in tax battle
As you may have heard, the big news on the battle to preserve the tax exemption for the entire credit union movement is that the tax-writing House Ways & Means Committee released its first draft of tax reform legislation - without a mention of taxing credit unions!
This is due in large part to your on-going lobbying efforts via the "Don't Tax My Credit Union" advocacy campaign.
More than 4,400 credit union activists descended upon Washington D.C. at the end of February to convey the credit union message to members of Congress and key regulatory agencies. Our Illinois GAC delegation was comprised of more than 60 credit union officials from throughout the state.
Since the beginning of the innovative and award-winning social media "Don't Tax My Credit Union" campaign last May, more than 1.3 million messages have been sent to Capitol Hill, all saying "Don't Tax My Credit Union!" with 22,668 conveyed from Illinois credit unions. On February 25 - our third #DontTaxTuesday - you did it again through social media (i.e., Tweets and Facebook) posts that shared our message with more than five million people.
During "Don't Tax" advocacy, it was not just credit unions and their members that took to social media to back their credit union. Lawmakers also joined in with some tweeting their support for the credit union tax status.
Politico recently labeled credit unions a "winner" in its coverage of the draft. In addition, credit unions and the preservation of their tax status have also been highlighted within the first 23 words of a 1,000-word Bloomberg article on Rep. Dave Camp's (R-Mich.) unveiling of his draft tax code reforms.
"We're very, very pleased with this very big, big win," said John Magill, CUNA Executive Vice President for Government Relations. "The tax exemption is our very heart and soul."
To be sure, this is only the beginning. The big banks and their lobbyists won't rest until they have eliminated their credit union competition - the low-cost financial option consumers like you and your members enjoy. In fact, they continue their attacks on credit unions in Washington.
So we must not quit now. We have won this round, and the fight continues. But for today, we should take a moment to celebrate, and say thank you.
Your activism and passion for your credit union is inspiring, and led us to this meaningful win. Thank you!
2014 ICUL Director Election results announced. Listed below are results of the 2014 League Director elections as tabulated and confirmed by the independent Teller of Elections, Selden Fox, Ltd., Certified Public Accountants, Oak Brook, Illinois.
District 1 - Sangamon Valley, Southern, Boyle, Danville Area, Quincy, Burnett, Egyptian, Greater Decatur, Kelly
Class A - Special Election Results to be Determined March 10, 2014
Class C - Alan Meyer, CEO, 1st MidAmerica CU
District 2 - Central Illinois, Kankakee, Chicago Metro (former Southeast), Will County, Galesburg, Aurora, Bloomington, Illinois Quad Cities, Tri-County
Class A - Janet Francoeur, CEO, Riverside Community CU
Class D - Carl Sorgatz, Vice President, Great Lakes CU
District 3 - Northwest Illinois, Chicago Metro (former Southwest), Rockford Area, Brietzke, Doig, Fox Valley, Northern Cook
Class C - Patrick Basler, CEO, First Financial CU
Terms of office commence on April 3, 2014, immediately following the League's Annual Delegates' Meeting and expire in 2017.
Vote for ICUL's Senkpeil as CU Hero of the Year! In case you are not already aware, ICUL's Director of Small Credit Union Development, Joni Senkpeil, has been nominated by Credit Union Magazine as a 2014 Credit Union Hero of the Year! Joni's story, along with the other nominees, has been published in the March 2014 issue. We need your vote to help Joni receive this very deserving award! Voting will take place through May 1 at: http://www.creditunionmagazine.com/polls/61. This year's winner will be honored at CUNA's America's Credit Union Conference in San Francisco, June 29 - July 3. Be sure to vote today! Thank you.
See you at Convention! The League's premiere educational event, its 84th Annual Convention and Solutions Showcase is right around the corner! On April 3-5, the starting space will be the Renaissance Schaumburg Convention Center Hotel with a theme of "Play to Win." With so many Scattergories of things to see and do, you will have no Trouble planning your convention strategies. As previously announced, Bill Cheney, CUNA President/CEO will provide the Keynote address on: "The State of the Credit Union Movement/Washington Update". In addition, at the Chairman's Reception, you will be able to enjoy the music of the nationally recognized Beatles tribute band, "American English" as they showcase the 50th anniversary of this legendary group, and extend your best wishes to retiring ICUL CEO, Dan Plauda, in recognition for his over 37 years of service to credit unions in Illinois and the national credit union movement. For all the details, check out the League's Web site or refer to the event brochure just mailed to all credit unions. Plan now to attend!
Announcing CU*Reach - A new initiative for young CU professionals. The Illinois Youth Involvement Council (IYIC) Young Professionals Advisory Committee is proud to announce CU*Reach, a new group that is aiming to engage young professionals while inspiring lifelong careers in the credit union movement. CU*Reach will provide opportunities for networking, mentoring, education, leadership development and community involvement. The advisory committee is currently hard at work developing programming for young professionals at both the local and statewide level. The target membership for CU*Reach is ages 40 and under, although there are ample opportunities to get involved as a "CU*Reach Champion" for those above 40. To join the CU*Reach e-mail list, please visit www.cureach.com. You can also find us on Facebook. Questions? Contact Melanie Murphy at 800-942-7124 or via email.
Dates & Events...
ICU Foundation scholarship and grant deadline March 31. March 31 is the main deadline for scholarships and the first deadline for grant applications. The Foundation accepts scholarship applications throughout the remainder of the year and distributes awards as long as funds are available. The 2014 ICU Foundation grant application deadlines are March 31, July 31 and October 31. Grant funds are available on a first-come, first-served basis. Application forms are available online. Click here to access the application forms.
Financial Fitness Day - April 2, 2014. The Illinois Credit Union Foundation has been working with the National Credit Union Foundation (NCUF) on "Financial Fitness Day" - a fundraising and awareness campaign taking place April 2, 2014. To participate, just hold one (or more) of three fundraising activities at your credit union. You'll be raising funds for the NCUF and the ICU Foundation in support of their critical financial education initiatives, raising awareness of credit unions' financial education activities and the importance of financial education. All donations from credit unions for this campaign will be split 50/50 between NCUF and the ICU Foundation. For more information and a variety of resources, visit www.financialfitnessday.com.
Save the Date: FHLBC Credit Union Conference. The Federal Home Loan Bank of Chicago will be hosting at two-day conference: Unlocking Growth with an Eye on Risk April 23-24, 2014 in Chicago. More details will be forthcoming. Click here for the event flyer. Call 312.565.6943 to learn about FHLBC Membership or attending this conference.
Legislative Day and Reception/Springfield Golf Outing. Please mark your calendar to attend the League's annual Legislative Day event and legislative reception, which is scheduled for Tuesday, April 29 at the Prairie Capital Convention Center. Also, the 4th annual Springfield golf outing to benefit CUPAC is again being held prior to Legislative Day on Monday, April 28 at the Edgewood Golf Club in Auburn, IL. Complete details for these events have been provided via separate brochures, which have been mailed to all credit unions. Information is available via the League's Web site. Click here for the Legislative Day brochure and here for the golf outing brochure. Online registration is also available for both events.
Hispanics are the largest, fastest-growing, youngest, and most underserved group in the U.S. With one out of six U.S. residents being Hispanic and one out of two Hispanics being unbanked or underserved, Hispanics are your credit union's largest growth opportunity. Many times, common misconceptions and objections about Hispanics get in the way of successfully serving this untapped marketplace. Join us for the Potential of the Hispanic Market QuickBites
on March 6 (Session Code: 439
) to learn more.
There's never a debate about the fact that a lot is expected of the teller. When a teller's cash drawer does not balance at the end of the day, it can be extremely difficult to locate and reconcile the difference quickly and satisfactorily. But balancing is just one piece of the puzzle to teller excellence. Learn more at the More Than A Balancing Act - Tellers QuickBites
on March 11 (Session Code: 441
The objectives of the Open is the New Close QuickBites
sales training on March 13 (Session Code: 442
) will include: recognizing sales traits and subsequent skills that predictably deliver results; leading your sales conversations with a message of value; how a primary focus on member profitability leads to sustainable results; and how to use customer relationship management systems, predictive analytics, and smart selling skills.
Your telephone is the most efficient tool in reaching your members to collect on a past due account. Collectors who use persuasive and personalized words often have the most success. The right words can increase payments in full, calm angry members and sometimes sway apathetic consumers. At the Telephone Collection Tips QuickBites
on March 18 (Session Code: 443
), learn some tips on how to make words work for your credit union's collections.
It is essential to plan out, prepare for and track all business development efforts. In this Effective Business Development for SEGS webinar
on March 18 (Session Code: 410
), learn how to develop a workable business plan, develop goals that align with your credit union's strategic objectives and learn how to measure, track, and present your efforts.
Credit unions may have a SEG list, but when was the last time a call was made to a company on the list? What should be said? Where is the best place to start? In the SEG Inreach: Steps to Creating Advocates Webinar
on March 20 (Session Code: 410
), the presenter will share his story of starting from scratch and rebuilding a community partner program into a vibrant outreach vehicle.
Losses from check fraud continue to cause losses in the credit union industry. The most effective loss control against fraudulent deposit losses is the check hold. The changing check fraud environment has forced credit unions to re-evaluate their check hold policies. At the Reg CC telecourse
on March 20 (Session Code: 444
), learn how to use Federal Reserve Regulation CC to protect your credit union from check fraud losses.
Small credit unions have fewer resources but have higher member loyalty. The Small CU Marketing QuickBites
on March 25 (Session Code: 446
) will provide proven strategies to stretch your marketing dollars. Attend and glean strategies and formulas to help justify your investment in marketing activities.
McDonalds and Disney have both figured out a great secret - building a strategic blueprint with youth in the center of that plan can lead to great success. Every credit union wants to get younger. Some are doing it very well. At the Young Employees - Young Members Great Growth QuickBites
on March 27 (Session Code: 447
), the presenter will shine a light on credit unions around the country to show how they are winning the youth movement.
On-going resources 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!
Get paid to grow your LSC Credit Program!
Partnerships and growth go hand in hand in creating success within your credit union's credit card program.
LSC, as your "Payment Solutions Provider", has developed a comprehensive activation/ utilization promotion to engage your members in credit card growth. Participation is simple and LSC has put together a comprehensive plan to optimize your success, including a $4 per new account incentive back to the credit union for those accounts added during the 90-day campaign.
Take a closer look at our commitment to improving your credit card ROI, or to sign up for the campaign. Contact us at email@example.com
or phone: 800-942-7124 enter *3965.
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