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CRI Measurement and Documentation

One of the primary objectives of CRI is to document and objectively report the existing practice of Michigan credit unions related to fulfillment of their social mission, leveraging as much existing data as possible and then supplementing it by collecting new data as needed.

The data gathering process included the following elements:

Online Questionnaire

A questionnaire designed to measure credit union activities in six strategic areas (lending, financial education, affordable financial services, community involvement, student loans and shared branching) identified by the CRI Task Force was converted to an online system, where each credit union in Michigan was given a unique ID and password to electronically complete it. The questionnaire covered a wide array of topics from identifying special loan programs to participation in shared branching to involvement in financial education. This method was chosen for overall efficiency and effectiveness in standardizing responses. Paper copies of the survey were made available for those requesting them.

Methods Used to Increase Participation

An initial letter requesting participation was sent to all credit union CEOs, follow-up phone calls were made selectively, reminder e-mails sent and MCUL Relationship Managers made requests at Credit Union Chapter meetings for participation. We initially allowed credit unions 60 days to complete the survey. The original date was extended. By the end of this period we had a 40% rate of completion.

Use of External Data Sources

Other relevant data sources were used to help supplement the data collected for the CRI Questionnaire. The National Credit Union Administration's (NCUA) 5300 Call Report data was a major source of information used. From it loan, assets, members, shares, and other similar data points were blended into the questionnaire survey results. In addition to the NCUA 5300 Call Reports the Credit Union Nation Association (CUNA), U.S. Census Bureau, the MCUL, DataTrac, and the National Youth Involvement Board (NYIB) were also used as sources of information.

Use of Independent Analyst

The MCUL used an independent analyst to analyze the data from the CRI questionnaire and from the external sources listed above. The analyst provided the MCUL with an independent and objective view of Michigan credit unions' community reinvestment efforts and accomplishments.

Reporting

Data gathered and analyzed was then used to produce the report, "2008 Credit Unions Building a Stronger Michigan." This report was designed for use by credit unions with members of Congress, the state Legislature, credit union Board of Directors and the public. The data will also be analyzed by Congressional district with separate reports prepared for Congress and delivered in person to them by credit union representatives. For a copy of the report click on 2008 CRI Report in the index.