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League Representative Update

powered by the Michigan Credit Union League
August 2020

MCUL Update

Michigan CU Statistics and Highlights: 213 CUs, 99% affiliation

Mergers:

  • Delta County CU CN#62454 merged into Embers CU CN#62038 effective May 15, 2020

CEO Changes:

  • Bethel Baptist Church East CU – Tabatha Elam is no longer the CEO; Sherion Bounds is the new CEO
  • Monroe Community CU – Michelle Micallef is no longer the Interim CEO; Kristine Brenner is the new CEO

Name Changes:

None

Upcoming MCUL 2020 Events

  • Operation Reconnect
    • August and September
    • Please note: Due to statewide executive orders pertaining to COVID-19, these sessions have been canceled.
  • IRA Virtual Training - Registration Available Soon
    • September 29 | Essentials
    • September 30 | Advanced
  • Mortgage Loan Originator Virtual Training
  • Lending School Virtual Training
    • October 21 | Specialized Consumer Loan Sales Training
    • October 22 | Specialized Underwriter Training
    • Register Here
  • ASFM Golf Outing

Convenient, Affordable BSA/AML Remote Training for Boards

To assist Michigan credit union directors in fulfilling the important Bank Secrecy Act/Anti-Money Laundering training they require, MCUL has developed a convenient five-part series of short pre-recorded sessions.

The segments are ideal for self-study or to share and view during a board meeting(s). They are available for MCUL affiliated members for only $199 per credit union. Credit unions with assets of $50 million or less may enter code SASBSA to be eligible to pay just $129 per credit union.

Click here to purchase and immediately receive links to the recordings.

New: CU Link Campaign Update

The Michigan Credit Union League is happy to introduce an updated CU Link campaign that will run for the remainder of 2020. This series of ads, designed with partners DP+ and CU Solutions Group’s CUBE TV Studios, is designed to offset fatigue and help transition communications to a tone of tempered optimism and empathetic support.​

Tone and visual cues are in sync with CUNA’s evolving “Open Your Eyes To A Credit Union” campaign. CU Link messaging reinforces that credit unions always have been, and always will be here for Michigan residents, providing stability and serving their communities.​ Message themes include a small business focus, the credit union difference, mortgage and auto loan offerings, a community focus, plus service and people over profit. These ads also stress that during such tough economic times, it is especially important to have a financial partner that offers lower rates and fees.

The ads, direct consumers to CULinkMichigan.com to encourage members to contact their current credit union or to join a credit union if they are not yet members.

This new campaign is live as of July 1st and will run through December 31st in digital markets across the state. MCUL is investing more than $900,000 in the all-digital media buy that prioritizes ads to the core audience segments and mobile devices. Visit the MCUL CU Link page to view the new ads, messaging and media plans.

Integration resources are also available and may be accessed here. For more information, please visit mcul.org/culink or contact our team at culink@mcul.org.

MCUF & FUEL Update

MCUF Hosts Financial Education Connection (FEC) Meeting August 13

A zoom meeting on Thursday, August 13 from 10:00 a.m. until noon will focus on changes and plans for youth financial education and student-run credit unions for the upcoming school year. Please join this meeting if your credit union is involved in youth financial education to help us explore and share ways to engage schools and students this fall. To attend the FEC meeting, please RSVP to Beth.Troost@mcul.org

MCUF Hosts Credit Union Foundations/ Community Outreach Meeting August 12

A zoom networking session on Wednesday, August 12 at 10:00 a.m. will bring together credit union professionals engaged in their own credit union foundation activities or community outreach initiatives. Especially this year, cooperative sharing and networking can help us all make a bigger credit union impact in Michigan. To attend this meeting, please RSVP to Beth.Troost@mcul.org.

NCUF Partnership for PPE Supplies Gives Back to MCUF

Low-cost masks, hand sanitizer, and other protective equipment have been made available to credit unions thanks to a recent collaboration of the National Credit Union Foundation, state credit union league foundation, and the company Geiger.

Personal Protection Equipment (PPE) is everywhere, and will be with us for a long while. Tellers, loan agents and even call centers will be using these products to protect themselves and their co-workers. And your members will expect it. Sanitizer, masks, gloves, touch-free thermometers, sneeze guards and more, are immediate needs and will quickly become tough to locate.

The National Credit Union Foundation is partnering with Geiger to provide credit unions with a source for safe, FDA and OSHA approved PPE products at discounted pricing. Geiger is the largest independently owned distributor of promotional products in northern America. Geiger launched two web stores, one for PPE supplies for medium to large CUs and one for PPE supplies for smaller CUs (with lower minimum orders).

Geiger will donate a portion of every sale to the Michigan Credit Union Foundation for the benefit of the credit union community.

The FUEL MI Young Professionals Networking Group is searching for driven and dedicated young professionals who are passionate about sustaining the credit union movement to join the statewide program. Group members will meet 5 times a year and be responsible for determining and implementing methods for participants to connect, interact and learn about the credit union industry and movement, as well as actively participate in community outreach initiatives throughout Michigan.

To join FUEL complete and submit the participation form.


MCUL Compliance Support: ComplianceHelpline@mcul.org 

Michigan Solutions

Solution Spotlight: Payment Solutions

Rewarding your membership for their loyalty and card usage is a great way to say "You’re appreciated!" Offering rewards on your credit and/or debit card programs is proven way to acquire new accounts, promote cardholder spend and encourage retention. Compelling rewards can include a cash back component, discounts at the gas station, gift cards along with travel and merchandise options. It’s time to create a little shock and awe at the point of sale and build a long term partnership by simply saying “thank you”. For additional information, please contact Nangela Piersall, card program advisor, at nkp@mcul.org

On Demand Webinars: 

Strategic Advisory Solutions Presents: Don't Be Virtually Compliant - Be Compliant AND Virtual

In this webinar we discussed adapting to dealing with compliance and planning virtually. AffirmX has proven processes and methodologies that can help you identify, measure, monitor and a​ct on today’s compliance risks. Additionally, Like other meetings and conferences, strategic planning can now also be accomplished in a virtual environment.

Please click here to gain access to the recorded webinar.

Access Password: Z&@9xz2H

Marketing Solutions Presents: Providing Value to Your Members When it Matters Most

Love My Credit Union Rewards, MemberXP and Save to Win will offer their perspectives on how partnering with us can help the credit union member benefits, member satisfaction and encourage savings.

  • Love My Credit Union Rewards is a program that benefits your members in their daily lives by offering savings on products and services they are already using every day. These are rewards and incentives that nobody can ignore.
  • MemberXP is a powerful, industry-specific analytics platform where credit unions can collect member feedback, gain actionable insights, and leverage tools to elevate service levels and improve processes. From baselining employee performance, to ‘closing the loop’ with members, this solution provides the functionality needed to improve member experiences in real-time, differentiate on brand, and retain lifelong members.
  • Save to Win is the longest running industry exclusive Prize Linked Savings program in the US. For every $25 a member Saves to their Save to Win account they get a chance to win up to $5,000 in cash prizes. It is a win-win for members and credit unions.

Please click here to gain access to the recorded webinar. 

Access Password: +62kO3e^

Adapting to the post-COVID Auto Lending Market

Three of our preferred partners, Origence, AFG, and CU Trak will offer their perspectives on how partnering can help the credit union adapt to the new normal, reduce costs, maximize resources, and empower more members through the auto buying process.

Please click here to gain access to the recorded webinar.

CUNA Mutual Group Resources

Discovery™ 2020 – Registration Now Open!  Join thousands of credit union leaders across the country on August 13th for our free virtual Discovery 2020 Conference. Take advantage of this valuable opportunity to connect with others, gain insights from industry experts, and further develop your strategic planning - all in the comfort of your own home or office.

Personal Injury Protection Auto Insurance Reform: The new Personal Injury Protection (PIP) Auto Insurance Reform in Michigan provides an opportunity to protect more members and help them save hundreds on their auto insurance premiums. This welcome news comes at a time when many people are faced with unexpected financial hardships related to COVID-19. Prompted by this reform (effective July 2, 2020), we anticipate a 50% increase in shopping for auto insurance. To help build awareness of the customized coverage options available, Liberty Mutual is proactively communicating with their policyholders prior to their renewal date.

To help offset some of the financial burdens of today’s unusual circumstances so that people only pay for the coverage they need, TruStage has created several member communications for you to use to make your members aware of this change. If you are active on the TruStage Auto and Home Program and want to promote this new change with your members, please email the TruStage Program to request newsletter inserts, member email templates and/or web copy for your website.

 

Rethink Technology

NEW: Financial Calculators powered by CalcXML 

Recently, CUSG enhanced its already large collection of financial calculators for credit unions’ members by partnering with CalcXML.

The financial calculators, market-tested, and examined and verified by financial professionals for more than two decades, provide concise, current, and accurate data, while allowing credit unions to optimize the member experience. Precision-made calculators are an ideal solution to increase engagement on your website while enhancing your members’ financial experience.

Financial calculators include:

  • 150 + topics spanning all financial categories
  • Customized branding
  • Responsive design
  • ADA accessibility
  • Mobile readiness
  • Automatic tax updates

NEW: FIST - Helping Members Achieve Financial Stability

Another new product offering from CUSG is the FIST® Score (FInancial STability), powered by CalcXML. The FIST Score enables credit unions to better serve members through comprehensive needs assessment, ongoing engagement, and product assistance. Members will receive a high-level view of their financial picture in the four areas of risk: liquidity, longevity, life, and loans.

FIST Score is a wellness index that assists members in identifying and assessing any area of financial weakness. A personal financial dashboard enables members to utilize peer comparisons and receive online education, while using tailored credit union product solutions and other financial recommendations. The result: long-term financial health and success via a detailed action plan, including videos and email task reminders.

NEW:  Pocketnest - East-to-use Financial Freedom for Your Members

New CUSG partner, Michigan-based startup Pocketnest, offers the first comprehensive financial-planning platform, and can help credit unions innovate and grow. The company aims to turn transactional members into loyal brand advocates, while increasing cross-sell opportunities and qualified leads.

Pocketnest is the only financial planning platform that's approachable to all users and covers all areas of personal financial health and education, from establishing a budget to investing in the future, in a DIY, step-by-step approach.


Website Support: support@cusolutionsgroup.com

Reimagine Marketing

Love My Credit Union Rewards Update - Sprint Program Sunset 

T-Mobile officially completed its merger with Sprint Corporation on April 1, 2020. As the companies combine their customers and retail stores under a single T-Mobile brand, the Sprint brand will be going away, and with it, the Sprint Cash Rewards offer has been discontinued as of July 31, 2020.

Please visit our Sprint Transition Hub located in our Partner Center where you can access the recording to our recent Sprint Sunset Webinar, FAQs, new marketing materials and more.

Keep your eyes open next month for some exciting developments surrounding Love My Credit Union Rewards including an exciting new credit union member wireless discount that we will roll out in very near future; one we believe will deliver even more value to members and credit union employees.

Product Updates: Credit Unions Forms and NADA Valuations

Marketing Solutions offers the development and execution of various electronic and printed financial forms credit unions can use to better serve their members. From business account forms to loan documents, marketing solutions has a myriad of options for you to choose from. View our catalog here. 

We also offer NADA Values Online to assist credit unions access vehicle valuations correctly. NADA Values Online combines the trusted values of 10 guidebooks into one convenient resource. Plus, it’s web-based, which means there’s no software to install and your entire staff can use it at the same time. View our order form here.

For for product catalogs or more information please contact your League Rep. 

Special Offer: Save to Win

As we move to operating in the new normal and the impending recession, it will be more difficult for members to save and build an emergency fund. It is now more important than ever to reward members for creating good financial habits.

To support credit unions in incentivizing savings to their membership we are reducing our implementation fees by 50% for credit unions that sign on to the program by August 30th. That is a $500.00 savings.

Save to Win is the longest running, credit union exclusive, Prize Linked Saving program in the US distributing over $160k in prizes to over 2,000 members across the country. For every $25 dollars your member saves they get entered into a drawing for a chance to win prizes of up to $5,000.

Upcoming Webinars: Back to Business Webinar Series

We have come to an end of our live Back to Business Webinar Series, but we are making all 4 webinars available for you to watch at your convenience. For FREE!

The series was set up to provide credit unions with learnings CUSG has learned through conversations with CUs during the recent shut down, how it has affected marketing and communications, and what credit unions should keep in mind as we move into the new normal.

Sign up for the Marketing Insights Network and watch all webinars on demand here: CMS Back to Business Webinar Series

Reinvent Performance

Solution Spotlight: The Learning Center

Credit unions around the country are relying more heavily on their learning management systems since COVID started. There’s been a 71% increase in YOY usage rates since the crisis started. Connect with us to see how easy it is to get access to nearly 2,000 courses at a temporarily discounted rate.

To schedule a demo of TLC or any other Performance Solutions product please click here

NEW: Helping Teams Manage the Details

Teams perform better when there are clear assignments and due dates! Now there’s software to help your teams track it all. Planning Pro’s quick implementation will help your employees collaborate on daily tasks that can be tied to goals and strategic objectives even when working remotely. Reports can be quickly generated to keep the team informed as well as bring management, executives and the board up to speed.

Click this link to schedule a time to get a tour of Planning Pro!

Recharge Strategy

Solution Spotlight: Remote or In-Person Strategic Planning

Fall will be upon us quickly and if you haven't all ready started planning for 2021 now is a great time to start. As a regulatory requirement, strategic planning can be done with or without physically bringing together the Board, management and a facilitator. 

Strategic planning is more about what is being discussed rather than where it is discussed.

Strategic planning sessions in the future will see an increased focus in these areas:

  • Scenario planning
  • Business continuity
  • Mobile/remote capabilities

Solution Spotlight: AffirmX- Helping your Credit Union stay Compliant, Remotely

AffirmX's proven processes and methodologies ​can help you identify, measure, monitor, and act on today’s compliance risks

  • Meet your regulatory compliance requirements without physically bringing a team of experts into your office
  • Some day, an examiner will once again walk into your office to conduct a portion of your exam, but even NCUA admits they “can conduct the majority of examination work offsite,” so why not be prepared to meet their offsite requests
  • AffirmX delivers a completely customized compliance workflow that will help you:
    • save money compared with traditional approaches
    • create efficiencies by integrating compliance into regular activities
    • validate your regulatory compliance efforts