Financial Education Manager
Check your email inbox and take action. Credit union CEOs have recently received a request to complete the MCUL & Affiliates’ annual CRI Survey. Michigan credit unions have a story to tell about how they are very different financial service providers because of their shared values of collaboration, community involvement and dedication to their members’ financial wellbeing. But we need to put real numbers behind our message and we need your help to gather the data to tell a compelling collective story.
No matter how small your credit union is, your participation is important. Together our voice is stronger and obtaining information from all credit unions helps us report the large collective impact we have in the state.
Smaller credit unions may not be involved in all of the activities that the survey asks about, and that is OK. But most credit unions are involved in some level of community outreach and community assistance and we would still like to hear from you about what you are doing.
“Having solid Community Reinvestment Initiative data is critical for us to be able to connect the dots for policymakers as we work to protect the credit union tax exemption in Congress,” said Ken Ross, executive vice president and COO of MCUL & Affiliates. “And showing policymakers the credit union difference in action certainly helps explain why more regulation in the form of Community Reinvestment Act obligations is unnecessary—meeting the lending, investment and service needs of communities across Michigan is what credit unions are about."
The CRI survey will provide the data we need to quantify the credit union difference in our annual Community Reinvestment Report. This year, the survey data will also be used for a new national report, or scorecard, to be released by the National CU Foundation showing credit union community outreach state by state. The CRI survey gathers information about your involvement in community outreach activities including financial education and counseling, volunteerism and community donations, and student scholarships. If all Michigan credit unions involved in these activities complete the report, we will be sure to show a very impressive impact for our own report and for the national scorecard.
The annual Community Reinvestment Report uses powerful community images and strong graphics with the information gathered from the survey to visually emphasize the remarkable benefits credit unions offer. This will help lawmakers understand why they should feel good about working with credit unions to protect the tax-exempt status.
It is only by gathering information about your good works that we can show the credit union difference in the reports. Tell us what your credit union is doing by completing the CRI Survey by Nov. 1. Quantifying the collective credit union impact with real numbers is the most powerful way to leverage the good deeds that credit unions do.
Each Michigan credit union has been provided with a unique URL to enter their survey responses. The survey questions and easy instructions are posted online at www.mcul.org/cri. For more information, contact Financial Education Manager Beth Troost at Beth.Troost@mcul.org or by phone at (800) 262-6285, ext. 453.