Placing prominence on small CUs

Illinois has always been home to a significant number of small credit unions, but did you know that 76 percent of ICUL affiliates have less than $20 million in assets?

To that end, the League has placed significant time and resources in helping small credit unions prosper.

The latest resource to become available to this group is the "Small Credit Union Resource Center" via the League's Web site. This new, comprehensive, password-protected section was developed specifically with the intention of providing small credit unions with a wealth of resources. The main sections include: planning resources, product information, hot topics, and top templates, such as sample policies.

The new online resource center was rolled out at one of ICUL's primary educational opportunities for small credit unions, the annual Small Asset Size Conference. The two-day conference was a unique educational event that addressed challenges and concerns of credit unions in this particular asset group. Many topics centered on helping small credit unions compete in today's marketplace, including membership growth, identity theft, compliance, REAL Solutions, and NCUA small CU programs. This highly-rated conference also provided participants with an opportunity to meet and network with credit union personnel from similar size Illinois credit unions. This year's conference was the 6th annual event and was attended by more than 70 individuals representing 51 credit unions.

Also as part of the effort to assist small credit unions, ICUL recently hosted representatives from NCUA's Region 4 office and other staffers. In attendance were NCUA Regional Director, Keith Morton; Larry Blackenberger, NCUA Associate Regional Director; and NCUA Supervisory Examiners Gary Rieken, Gerald Schultz, and Steve Worden; as well as several ICUL management staff members. The meeting was an opportunity for NCUA to learn about the regulatory and legislative climate in Illinois as well as all of the informational resources, products and services that ICUL and the Service Corp provide to assist small credit unions. In return, Morton provided an overview of NCUA small credit union programs and regulatory issues of concern to Illinois credit unions.

For more information about assistance available to small credit unions, please contact Joni Senkpeil, ICUL Director of Small Credit Union Development, at 630-983-2723.

© 2007 Illinois Credit Union League. All rights reserved.