SAS credit unions are a valuable part of the CU system. The following offers regulatory resources, self-assessment tools and links to education scholarships.
Credit Union Supervisory Committee Annual Audit Resource Tool
This resource tool, brought to you by the MCUL, is designed to provide accurate information for the Supervisory Committee to utilize when completing your credit union's annual audit.
Corporate Credit Union Stabilization Program
Links and information from the MCUL, CUNA, NCUA and CenCorp regarding the NCUA's stabilization plan for corporate credit unions.
Compliance: A Self-Assessment Guide
This guide, from the NCUA, is intended for use by a credit union's board of directors and management, compliance officers, and other having responsibility for compliance as part of their duties.
NCUA "Best Practices"
Part of the NCUA PALS Website features best practices from credit unions that are offering innovative programs to improve service and attract new members.
Michigan Credit Union Annual Compensation Survey Report:
- A PDF of the Michigan Credit Union Annual Compensation Survey Report will be provided free to any credit union that participates in the survey. For those affiliated credit unions that choose to not participate in the survey, the price will be reduced from $80 to $40 for the PDF. A great resource for credit unions, the report is based on a 20-minute survey of Michigan credit unions that covers salaries, benefits and compensation.
For Michigan credit unions with assets less than $35 million:
- CU360 - CUNA's online information portal is available for free. CU360 aggregates and simplifies finding research, advice, strategic planning information and operational knowledge aimed at all of the various disciplines necessary to operate a successful credit union.
- Michigan Credit Union Foundation (MCUF) scholarships and grants are available for up to $1,000 for credit union-specific education offered by MCUL and CUNA, and up to $2,000 for operational grants. Total MCUF funding is limited, scholarships and grants will be provided annually as funds are available. Click here to visit the MCUF webpage for more details.
- Free strategic planning sessions to any credit union with less than $35 million in assets. These planning sessions are conducted by League Representatives and offer credit unions the opportunity to evaluate recent economic factors, while looking to future plans and goals.
The 2010 CU Difference Campaign was bigger and better than ever and, thanks to a record-setting fundraising effort for co-op advertising, the all-new TV and radio commercials aired all across Michigan.
You’ve probably seen or heard the spots, so you have to agree that they are some of the best work we have ever done on behalf of Michigan credit unions. We’re fortunate to be able to work with McCann Erickson, a premier agency that works with clients like General Motors and the state of Michigan, developing promotional campaigns like Pure Michigan. You can see and hear the spots on the Web at www.LoveMyCreditUnion.org.
2010 was indeed a record-breaking fund-raising year with almost $950,000 received from credit unions, which is especially impressive considering our economic climate and the challenges facing credit unions this year. Combined with matching funds from CUcorp, a total of more than $4 million in advertising was spent last year to support the Credit Union Difference.
So, now it’s time to once again join forces with the strength of the CU Difference Campaign. We’re getting ready for more great results in 2011 and we have proof that it works! Thanks to the co-op advertising campaign, the number of people who know that everyone is eligible to join a credit union has increased each year since 2005 – growing recently from 55% in 2009 to 62% in 2010. 7.5 million consumers recall credit union advertising over the past year. It all must be working: credit union membership growth in Michigan increased 2%, or 54,000 people through the first three quarters of 2010, the first growth in five years.
Let’s keep the great momentum going this year!
Thank you to all who contributed to this important initiative and, if you would still like to contribute to the 2011 campaign, you still can. Also, one of the key credit union programs we plan to promote is Save to Win. If you have not heard about the program, it’s an innovative new product to help your members save. In fact, 56% of the people who have opened a Save to Win account have never saved before. This product is a real example of the credit union difference.
All credit unions will benefit from the statewide television, radio and print advertising as part of the campaign, and all are encouraged to participate by sharing their ideas and by making financial contributions. Every investment counts, regardless of the size. Please contact Maureen Lafrinere at (800) 262-6285, ext. 242 or mml@mcul.org with any comments or questions.
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Regulatory Affairs
