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League Representative Update

powered by the Michigan Credit Union League
July 2020

MCUL Update

Michigan CU Statistics and Highlights: 214 CUs, 99% affiliation

Mergers:

  • Riverview CFCU CN#7921 merged into Advia CU CN#61503 effective April 1, 2020.

CEO Changes:

  • Dow Chemical ECU – Dennis Hanson is no longer the CEO; Michael Goad is the new CEO
  • Forest Area FCU - Greg Gurka is no longer the CEO; Robert Raden is the Interim CEO
  • Northwest Consumers FCU - Cliff Esckelson is no longer the CEO; Tina Steed is the new CEO
  • Wayne-Westland FCU – Thelma Dasho is no longer the CEO; Joleen Bowman is the new CEO

Name Changes:

None

Covid-Response Data Entry Portal

We are gathering the last month of Q2 Covid-response data tracking. At this time, we are asking that you provide the most accurate, up-to-date numbers on the relief and support your credit union has done for those impacted by this crisis during the past few months.

The MCUL team has built an online portal on the MCUL.org site to collect credit union data during the current crisis. We are asking credit unions to visit this page and report your totals to date starting on March 1, 2020, when this crisis began.

Upon entering your login information, there will be a welcome page with two data collection areas specific to small businesses (PPP loans) and individuals (mortgage assistance, personal loans, fee waivers, etc.). The landing page will also feature downloadable PDFs of the questions. Those wanting to submit PDFs can upload in the system or send them to Research@MCUL.org. Any questions can also be sent to the same address.

Upcoming MCUL 2020 Events

**CANCELLED** AC&E – September 18 to 20, Traverse City

**CANCELLED** Executive Summit – September 16 to 18, The Inn at Bay Harbor

ASFM Golf Outing – September 9, Forest Akers, East Lansing

Operation Reconnect

Registration will open soon for "Operation Reconnect," eight executive-level sessions being offered by MCUL & Affiliates in August and September.

The smaller, in-person gatherings will be limited to the first 30 registrants at each destination, with a variety of topics ideal for CEOs and senior management.

Each being held at a premier Michigan destination, attendees will be able to enjoy a Michigan road trip to locations throughout the state.

With proper social distancing safeguards planned, a great lineup of expert industry-speakers is slated to present on topics addressing the current environment including: GRC; talent management; digital and remote service delivery; diversity, equity and inclusion; technology and cyber security; marketing and member service; strategic planning; and a getting back to business economic update. A variety of fun social activities will include networking time for participants to reconnect.

Online registration is now available. 

"Operation Reconnect" Dates and Destinations

August 5-6, 2020

The Pieces, the Parts and the Whole:
Governance, Risk and Compliance

Traverse City, MI

Register Here

September 2-3, 2020

How Social Networking Can Compromise Credit Union
Plymouth, MI

Register Here

August 12-13, 2020

Best Practices in Talent Management
Marquette, MI

Register Here

September 9-10, 2020

Member Centric Mindset
Standwood, MI

Register Here

August 18-19, 2020

Digital Divide: Why Status Quo Won't Work
Grand Rapids, MI

Register Here

September 16-17, 2020

Strategic Planning: The World Has Changed, Now What
Bay Harbor, MI

Register Here

August 25-26, 2020

Understand Diversity, Equity and Inclusion in the Workplace
Ann Arbor, MI

Register Here

September 22-23, 2020

The Economic Impact of Getting Back to Business
Grand Rapids, MI

Register Here

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 Community Reinvestment Grants
The COVID-19 pandemic, coupled with the catastrophic flooding in the Midland area, have resulted in significant financial hardships in Michigan, and credit unions have stepped up to help. MCUF funding alone, fueled by cooperative donations from many credit unions and businesses, has provided 29 Community Crisis Grants totaling $102,700 and flood relief funds of $150,000 to supplement credit union investment in addressing these recent financial needs of communities.

Community Reinvestment Grants are available for credit unions, collaborative groups of credit unions and credit union chapters developing or implementing community reinvestment or financial education initiatives and partnerships — especially those assisting under banked, low income or underserved areas. Grants for small- or large-scale initiatives can be used to assist with your unique credit union activities or to expand on existing programs.

This MCUF webpage provides information and a listing of grants approved in 2019. $100,000 is available for MCUF Community Reinvestment Grants in 2020 and applications are evaluated and approved as funding is available; applications are encouraged by July 30.

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.

2020 CUNA Awards Nominations Due July 24

Has your credit union been involved in efforts to help its community? Does it live out the “people helping people” philosophy daily, especially since the pandemic began? Have you been in involved in financial education or financial literacy events?

If this describes you and your credit union, you’ll want to submit a nomination for one of the 2020 Credit Union National Association (CUNA) Awards. The deadline for submissions is July 24 and may include the credit union’s outreach from July 2019 to July 2020.

For more information click here


MCUL Compliance Support: ComplianceHelpline@mcul.org 

Michigan Solutions

Partner Updates: CU Trak

Are you worried about how the economic impact of COVID-19 will effect your members and your auto loan portfolio? We would like to introduce CU Trak, an asset tracking system. This simple GPS tracking solution was designed with your needs in mind, giving you access to the tools and intelligence you need to provide more loans, to more members while decreasing your delinquencies and repossessions. Members could greatly benefit from your credit union partnering with CU Trak. CU Trak provides the tools and intelligence you need to engage more members while mitigating loss, delinquencies and repossessions.

Upcoming Webinars:

Technology Solutions Presents: The New Normal

Please join us, July 8th at 10:00 am for a complimentary virtual workshop where we will discuss the “new normal” in the COVID-19 era, engaging members in solid remote/digital delivery channels, and new online member communications. During this webinar we will be discussing: 

  • The “New Normal” in the COVID -19 era
    • Engaging credit unions and their members with solid remote/digital delivery channels
    • Respond to changing member habits and accelerate technology adoption.
    • Transform your credit union so it’s a leaner and highly productive member-engagement tool, delivering end-to-end solutions.
  • Engaging members in solid remote/digital delivery channels
    • Provide multiple advances to credit unions with digital accessibility, offered by AudioEye
    • Members have no worries when your credit union offers Payzur P2P to enable debit cardholders to send or receive money person‐to‐person via their smartphone or online.
  • New online member communications
    • SilverCloud delivers instant support and high-end service for your member with the creation, management, and delivery of support knowledge, while decreasing contact center inquires and deliver a better consumer experience
    • PureChat Pro enables credit union members or potential members to discuss issues or concerns with a live person, assuring another effective mode of communication with members.

Register Today! 

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

Please join us, July 22th at 10:00 am for a complimentary virtual workshop on “Providing Value to Your Members When it Matters Most” This is one workshop you do not want to miss! 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 participating in Love My Credit Union Rewards, credit union members have enjoyed nearly $2 billion in savings on products and services they are already using every day. These are rewards and incentives that nobody can ignore, and money talks — your members will be telling their friends, family and coworkers that the credit union difference is behind the extra spring in their step. 
  • 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. Overall Save to Win distributes over $160k in prizes to over 2,000 CU members across the country every year. In addition to getting a chance to win, members get to keep the money they invested and gain interest on it. It is a win-win for members and credit unions.

Register Today! 

Past Webinars: 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.

Payment Solutions

Prepaid cards lay the groundwork for new valuable memberships. Millennials and Gen Xers are the primary users of prepaid cards, according to research by The Pew Charitable Trusts (pewtrusts.org), Philadelphia. The cards are especially useful for college students and their parents as an easy way to budget and track school-related expenses. This also means prepaid cards can help your credit union build relationships with upcoming generations. Members can easily load and reload these cards as they budget for bills or special occasions. They enjoy the convenience of a debit or credit card without concerns about overdraft fees or missed payments hurting their credit scores. Unlike a debit card, a prepaid card isn’t connected to an account, giving members less to worry about if their card is lost or stolen. For more information, please contact our Card Program Advisor, Nangela Piersall @ 269.532.8617.

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: AudioEye Reduced Pricing & Additional Features

We are pleased to announce that we recently renegotiated our contract with AudioEye, this means steep savings across the board for current and new clients.

Additionally, we are including SEO, Web Audit, and Monitoring solutions at no additional cost to you. These new services include:

  • Web Audit Services and Reporting
    • This is a monthly SEO audit report which includes details and information on how to fix SEO issues including page errors, duplicate and missing content and meta data, broken links and broken images and page speed. Fixing these issues can help improve the overall SEO health of the website and improve the website’s presence in search engine results pages.
  • Google/Bing Analytics Integration and Reporting
    • This report is updated monthly and provides a list of website backlinks, search queries, visits to the site based on device type, site engagement from organic traffic and the search engines that are sending traffic to the site. This information can be used to help develop content marketing and link building strategies to improve the website’s presence in search engine results pages
  • Real-time Website monitoring notifications as well as daily and monthly uptime summary reports.

For additional information please reach out to your league rep.

NEW: Abrigo for PPP Forgiveness Monitoring

Financial institutions funding Paycheck Protection Program (PPP) loans as part of the CARES Act have come to the aid of their communities as they deal with the effects of the coronavirus. Now, lenders are looking for partners to assist them in the next phase of the program: forgiveness & reporting. 

NEW:  Technology Enhancements by SilverCloud & Pure Chat

For those looking to add communication and service delivery capabilities, you can enhance and expand communication via Pure Chat, our website chat feature. This solution can be implemented in one day and provides 10 licenses and the ability to have a group chat with two staff members at the same time. Additionally, new partner SilverCloud provides credit unions access to automated remote technologies such as auto-mated member support, turnkey chat bots and enhanced employee support

Upcoming Webinars: What's New with Certified Digital Accessibility 

Join us for a free webinar on Thursday, July 30 at 2 p.m. regarding What’s New With Certified Digital Accessibility.

CU Solutions Group, with its exclusive partner AudioEye, offers a fully managed and comprehensive digital accessibility solution that combines powerful machine learning technology with the know-how of certified digital accessibility experts. Learn more so you may take advantage of these enhanced solutions at a new, reduced price.

Register by clicking here


Website Support: support@cusolutionsgroup.com

Reimagine Marketing

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 July 31st. 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

The Back to Business Webinar Series is intended 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.

CMS Back to Business Webinar Series – Lessons Learned and What to Keep In Mind Moving Forward – Available to watch on demand

CMS Back to Business Webinar Series – The Importance of Member Feedback – July 9 | 11:00am EST

CMS Back to Business Webinar Series – How to Maximize Member Engagement – July 23 | 11:00am EST

CMS Back to Business Webinar Series – Marketing Tactics in the New Normal – August 6 | 11:00am EST

Register for all webinars 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: Introducing Compass

The Compass solution provides a fully integrated platform for comprehensive Budgeting, Forecasting, Interest Rate Risk (IRR), and Asset Liability Management (ALM) for community financial institutions of all sizes. Compass helps credit unions remain in full compliance of all ALM/IRR regulatory requirements, obtain accurate budgets, and make more informed business decisions through enhanced financial modeling capabilities in order to measure the financial impact of market and economic conditions and focus on strategic growth. 

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

NEW: Remote Workplace Risk Assessment Now Available

We are happy to announce exciting enhancement made to the Cybersecurity Risk Assessment!  Due to the significant number of requests received from credit unions, AffirmX has added the ability to easily create a Remote Staff Risk Assessment. The Remote Staff Risk Assessment portion of the Cybersecurity Risk Assessment includes considerations and risk scores the credit union's actions taken related to policies & procedures (generally), authentication & authorization (IT specific items) and data security (physical & electronic).  For more information please reach out to your league rep.

NEW: Member Safety Videos for Credit Union Lobbies

Our team recently completed Member Safety Videos that let your members know what you are doing to keep them safe while providing tips to follow when visiting one of your branches. The video can be customized or choose from the premade, ready to go one. To view the videos click here. 

Solution Spotlight: Governease

A complete solution for standardizing and modernizing governance. 

PEOPLE

Understanding the Board of Directors’ role and responsibilities is fundamental to the successful governance of your credit union. From determining roles and responsibilities for Board members and officers, to identifying how your Board will successfully renew itself and execute its duties, clarity is a must.

Board Members are expected to establish direction and control of the credit union, understand financial metrics as well as other duties carried out in good faith. We can help ensure all board members, regardless of tenure all meet these requirements.

PROCESS

Standards for conducting meetings, as well as utilizing committees and task forces, allow credit union Boards to be more productive and effective in executing their governance and leadership responsibilities. 

We can assist in the development of policies and charters to help you and your colleagues clarify the role and responsibilities of your Board-level committees and task forces so that they are functioning at the highest level of governance excellence.

PERFORMANCE

By exercising due diligence, Boards improve their credit union’s performance through such practices as self-assessment and CEO evaluations.

We offer many Board performance products including CEO Performance Review, Board Self-Assessments and Strategic Planning. We also offer governance training through multiple channels, including onsite, video conferencing and online courses.