ICUL Service Corporation
July 2012


News & Notes 

CCU hosts "Understanding Fixed Index Annuities".  In today’s economy, the very thought of retirement planning can be both daunting and unsettling.  With that in mind, Consumers Credit Union (CCU), in cooperation with Allianz Life Financial Services LLC, hosted a no-cost educational workshop, "Understanding Fixed Index Annuities."  The workshop outlined the steps necessary to help achieve the income level one needs in retirement.  "Planning for retirement is a concern for many of our members," said Sean M. Rathjen, CCU President. "In order to develop the right investment strategy, it's crucial to equip ourselves with the tools required to successfully navigate the path to retirement."

Community CU of the Year Award entries sought.  CUNA will award the Community Credit Union of the Year Award to outstanding community credit unions that serve as positive role models in the field of service and exemplify the principles of the credit union movement. This award honors affiliated community credit unions and/or multi-SEG credit unions that consistently excel in the advancement of the ideals of the credit union movement, are proactive in their community and provide a wide array of services that meet the needs of their diverse communities. The award will be presented at the CUNA Community Credit Union & Growth Conference October 23-26, 2012, in Denver, CO. Award information and submission how-tos can be found here. Entries must be received by August 6, 2012 to be considered. Last year, one of Illinois' very own- Streator Onized Credit Union - was the recipient of this prestigious award in the under $250 million in assets category.

CU Development Education (DE) Program Celebrates 30 Years.  Thirty certified Credit Union Development Educators (CUDEs) gathered in San Diego, Calif. recently to celebrate the 30th anniversary of the Credit Union Development Education (DE) Program. The popular philosophy training program from the National Credit Union Foundation (NCUF) started in 1982 and continues to educate credit union professionals from around the world every year.  A special 30th anniversary reception was held during the annual DE Workshop for CUDEs that took place June 20-22, 2012 in conjunction with Credit Union National Association’s America’s Credit Union Conference. Graduates of the DE Program (or CUDEs) in attendance were from training sessions ranging from the first year in 1982 to the most recent training in April, 2012.  The DE program began in 1982 with a grant to the CUNA Foundation, now known as the National Credit Union Foundation, from the U.S. Agency for International Development (U.S. A.I.D.). Eighty-eight programs received funding over time, but the Credit Union Development Education Program is the only one still in existence.

GCS FCU Supports ADA.  GCS Federal Credit Union recently raised funds to support the American Diabetes Association and participated in a local event, Tour de Cure. In addition, GCS employees were given the opportunity to wear jeans on Fridays and Saturdays for $20 during the month of May. Funds were also gathered from GCS member donations and team members’ personal fundraising.  This year, Team GCS raised a total of $12,140 to support the American Diabetes Association. Team members also rode 100 miles in the Tour de Cure bike ride in Grafton, IL.  GCS supports numerous charitable organizations each year, including the March of Dimes, the American Cancer Society, and the YMCA.

NuMark CU hosts free seminar on benefits of mortgage refinance.  NuMark Credit Union invited homeowners to its free seminar, "Mortgage Refinance Tips" on June 26.  At the seminar, participants learned how to maximize the benefits of refinancing, identify what programs are available and recognize when it makes sense to refinance.  According to the February 14, 2012 Refinance Product Transition Report from Freddie Mac, the typical borrower who refinanced reduced their interest rate by about 1.5 percentage points. On a $200,000 loan, that translates into an annual savings of about $2,900 in interest. Over the course of a loan, refinancing can help consumers can save thousands of dollars in interest.  "Now is a great time to take advantage of historically-low rates," says Harry Stewart, AVP Residential and Commercial Lending.

Scott CU named to top workplaces list.  Despite the hard times that have had many companies reducing their workforce and trimming benefits, Scott Credit Union has remained committed to its strategy of being the best place to work. Scott Credit Union’s strategy has resulted in the local financial institution being ranked 4th in the list of Top Workplaces for medium size businesses in the St. Louis Metropolitan Area by the St. Louis Post-Dispatch.  In a special publication on Sunday, June 24, the Post-Dispatch joined with Workplace Dynamics to spotlight local companies who treat their employees well. The 50 companies on the list were named because their workers, on confidential surveys, rated their employees with high marks.  The questions included everything from pay and flexible scheduling to career advancement and management’s openness to new ideas, according to the Post-Dispatch.  Scott Credit Union has focused for the past few years on improving employee morale and making the credit union the best place to work. 

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