Michigan Credit Union Foundation

MCUF Financial Health Workshop Highlights Real-World Solutions for Financial Well-Being

The Michigan Credit Union Foundation (MCUF) welcomed 78 registrants to its Financial Health Workshop on Oct. 8 at the Henry Center in Lansing. The event brought together credit union professionals and industry experts to share practical approaches to improving financial well-being, protecting vulnerable members and measuring the impact of financial education. 

"One of the things I love most about the Financial Health Workshop is bringing together people who are genuinely passionate about helping others improve their financial well-being," said MCUF Executive Director Andrea Tucker. "We had a full room, great engagement and meaningful conversations about the challenges our members are facing. Our goal is to provide practical ideas and resources attendees can take back to their credit unions, but just as importantly, to create opportunities to learn from one another. That's where some of the best ideas come from." 

Kaitlynn Lamie of the Michigan Association of United Ways opened the workshop with a look at Michigan's ALICE data (Asset Limited, Income Constrained, Employed). Approximately 40% of Michigan households fall below the ALICE threshold, including 13% living below the federal poverty level and another 26% struggling to afford basic necessities despite earning above that level. 

Christine Quitter of Christian Financial Credit Union discussed how the credit union has leveraged Federal Home Loan Bank of Indianapolis grant programs to help first-time homebuyers and support nonprofits working to expand affordable housing opportunities. She also encouraged other credit unions to take advantage of these available funds to make a greater impact in their communities. 

Community Focus Federal Credit Union CEO Andrew Gregoire shared how the credit union reopened a branch to better serve an underserved community. He also highlighted the success of its Fast Cash emergency loan program, which provides members with immediate access to funds for unexpected expenses and an alternative to predatory short-term loans. 

Carma Peters of Michigan Legacy Credit Union addressed the growing problem of elder financial exploitation, citing National Council on Aging estimates that elder financial abuse causes $28.3 billion in annual losses, with many incidents going unreported. 

Peters discussed Michigan Legacy's efforts to protect older members through employee training and certification, helping staff recognize potential fraud, ask appropriate questions and intervene when members may be at risk. She also highlighted the credit union's partnership with Wayne State University to address financial exploitation. 

Claire Suellentrop of Attune focused on helping credit unions translate member success stories into measurable results. She introduced a framework of diagnosis, intervention, reassessment and proof of results to help organizations better track the effectiveness of their financial health efforts. 

Suellentrop also encouraged attendees to use data to identify and advocate for the resources needed to expand financial education programs, whether through additional funding, dedicated staff or greater leadership support. 

The afternoon featured additional sessions focused on improving financial education and coaching programs. A panel featuring Ashley Josey of Alpena Alcona Area Credit Union, Bill Thena of Financial Plus Credit Union and Stephanie Dill of Members First Credit Union explored ways to strengthen financial coaching programs beyond initial certification. 

The workshop concluded with a session on financial trauma-informed coaching, featuring Megan Crowson of America's Credit Unions, Lisa Slaughter of Kellogg Community Credit Union and Janelle Merritt of TRUE Community Credit Union. 

The Financial Health Workshop is part of MCUF's ongoing efforts to provide Michigan credit unions with education, resources and opportunities to share approaches to improving member financial well-being.