The Last Step

Humanitarian Highlight 12.31.2020

We’re back! Before the last step you need to take the first step.

Today is brand new #HumanitarianHighlight! We hope you all have been doing well and staying healthy! We are truly lucky and thankful to be part of such an incredible community. The #CUfamily is one of a kind who exemplifies the meaning of #CUdifference and #CUmovement. If you know of a credit union that has gone above and beyond for its community, please message us so we can give them a shout-out on all of our social media accounts!

IAA Federal Credit Union

Helping to support their community, IAA FCU partnered up with Federal Home Loan Bank of Chicago to donate $7,500 to Midwest Food Bank! Outstanding job, everyone!

“As a faith-based organization, it is the mission of Midwest Food Bank to share the love of Christ by alleviating hunger and malnutrition locally and throughout the world and providing disaster relief; all without discrimination. Our vision is to provide industry-leading food relief to those in need while feeding them spiritually.

Our story starts in 2003 when the Kieser family actioned their faith to share their blessings. They turned a barn on their family farm into a distribution site for local food pantries. Soon they realized the need was greater and there was room for growth. Thanks to the generosity of our donors, the valuable work of our volunteers, and most importantly, the blessings of God, Midwest Food Bank now shares the blessing worldwide. More than 4 million people were impacted in 2019. Midwest Food Bank currently distributes over $23 million worth of food to over 2,000 non-profit organizations each month. This is done from our ten locations in Illinois, Arizona, Florida, Georgia, Indiana, Texas, East Africa, and Haiti.” Midwest Food Bank

CLICK HERE TO LEARN MORE!

Affinity Federal Credit Union

Always taking that extra step to help someone in need, during Affinity FCU’s give-back week, one of their branches (New Haven Branch) took the time to volunteer a fall cleanup at the New Reach’s Life Haven Shelter! Thank you for all of your efforts in taking care of your community #CUfamily!

Fox Communities Credit Union 

Knowing that their Stock the Shelves campaign will be looking different this year because of COVID-19, Fox Communities CU is more determined than ever to make this campaign the biggest they have had yet. Since many families have been impacted by the pandemic, campaigns like these are crucial to help our many families who have trouble providing food on the table. 

“I can’t believe how many people I’m hearing from who have had a job forever, and all of [sic] the sudden their job isn’t there, or they’re making a lot less money,” she said. “If we can at least make sure they have full bellies when they go to bed at night that could be a huge part of what we’re doing.” Lynn Marie Hopfensperger, Development Officer 

Head to the credit union’s website for more information about the event! 

1st United Services Credit Union

Understanding the struggles of families all over the county not having the funds to put food on the table, 1st United Services CU is matching their virtual food drive donations up to $10,000! Thank you all for always being there for your community! 

“Due to COVID-19, food has become more of a necessity now than ever before, according to Alameda County Community Food Bank (ACCFB). And every dollar donated to the ACCFB equates to $7 worth of healthy food for a local family. That’s why 1st United has moved their food drive online this year and will be matching monetary donations made by members, staff, and community.” CUinsight

Royal Credit Union

Caring about their community, the foundation at Royal CU pledged $500,000 toward the $7 million expansion of the Eau Claire public library! 

“The Foundation focuses on large-scale, capital projects that help build community and create the spaces where people come together. Libraries are community gathering places that offer resources for everyone. We are proud to support the expansion of the L.E. Phillips Memorial Public Library and appreciate the many ways it benefits the Eau Claire community.” RCU Foundation President John Sackett

Travis Credit Union 

How outstanding is this? The Travis Credit Union Foundation raised more than $1 million for the COVID-19 Relief Initiative. This was then MATCHED by Travis CU for a grand total of $2 million! So, where will the funds be going? Well, the funds will be distributed to 83 local community organizations, which will then provide many resources and services to families and individuals who were impacted by the pandemic. 

“We focused where we know funds would immediately recirculate and strengthen communities, creating authentic community impact and financial wellness. We will continue seeking more resources to help non-profits survive and innovate as we all prepare for the ‘new normal’ in the aftermath of COVID-19.” Damian Alarcon, President of the Travis Credit Union Foundation 

I-C Federal Credit Union

As part of the credit union’s “Empower – A Community Connection” initiative, I-C FCU donated $4,000 to Ginny’s Helping Hands & Food Pantry of Leominster! 

Quotes are taken from the Sentinel and Enterprise article: 

“We are very grateful to IC Credit Union for this generous donation,” said Susan Chalifoux Zephir, executive director of Ginny’s Helpings Hand. “This will go a long way in helping us provide fresh, nutritious food to our food pantry families and ensure that no one goes hungry during these challenging times.” 

“In times like these especially, outreach programs like food pantries need our help,” said Holly Sanchez, senior vice president of Human Resources at IC, “and we are humbled by their commitment to serve.”

If you have any questions, call us at (949) 548-7601, and be sure to check out our Products & Services for your Credit Union! From the first step to the last step of every project, we want to help you get to a successful finish!

New Year, New Trends

2020 was quite a year, right? So many changes presented themselves and we all had to learn what it truly means to be resilient. Credit unions everywhere faced new challenges and had to quickly adapt and think fast when it came to helping their members. Not only that but the way we market had to also take a quick turn to all digital platforms. In this marketing corner, we will discuss what your credit union can expect when it comes to marketing and best practices in 2021. It’s a new year and so new trends come into play.

BE TRULY ADAPTABLE. As we all saw, things can quickly change at the drop of a hat. While in the marketing profession, most of us are used to things changing quickly, and we must continue to prepare in advance. This means, don’t just wait until something falls in your lap before addressing the situation. Go looking for the disruptions! By doing that, you can ensure your team and CU can be actively prepared for anything in the foreseeable future. We all know that marketing means always adapting – and with the year we had, going into 2021 – just remember to continuously listen to your members and keep an open line of communication.

TAKE ON DIGITAL TRANSFORMATION. If 2020 gave us an insight into the future, it’s that we must be pushing for digital. According to Global Marketing Alliance, in 2020, investments in paid, owned, and earned digital channels now account for almost 80% of multichannel budgets, with digital advertising and search advertising taking nearly a quarter (22%), with social marketing (11.3%) and website (10.4%) topping the list. The change we are seeing when it comes to going digital is something that is likely to be permanent going forward. If your CU is not on all the possible digital channels, you are missing an opportunity to reach your members and potential members.

INCORPORATE OLD WAYS. While the New Year starts to unwind, some of our old values and ways of doing things will eventually return. Being able to incorporate old marketing tools with new and digital ones will be very beneficial for your CU. The future of marketing will fall within traditional and new, and effective ways of marketing. While some of your members may be ready to return to doing business in-branch, a lot of members will still be wary of doing so for some time to come. Being able to accommodate all members is what will make your CU stand out from the rest. Giving members the relationship that comes with banking with a CU through digital platforms is not always easy, but hopefully, with a good marketing team to back you up, it’s possible! The new normal for CU’s will be taking on a balance of both marketing worlds.

While there are sure to be other trends that may be predictable or unpredictable once we arrive in 2021, one thing that will always remain the same is Oak Tree’s ability to be there for your CU! With over 37 years of experience in the credit union industry, we can help make sure your CU’s marketing goals are being reached and you are staying ahead of the race. Our marketing services department is standing by to answer any questions you may have! If you would like more information about our custom marketing services, feel free to chat with us at MarketingServices@OakTreeBiz.com. 

Is Now the Time for a Core Conversion?

When the first credit union in the U.S. was opened in 1909, all banking was done by paper and, all transactions were manually processed. We have come a long way since then, but with new technology every year, there is always room for improvements. For some credit unions, now is the time for a complete core conversion to improve efficiency and allow for more data integration. It might be time to ask yourself, “is now the time for a core conversion for your credit union?”

A credit union’s core platform and operating systems are arguably the most important pieces to the large puzzle of operating a credit union. Without an adequate system, a credit union may have a difficult time serving its members’ needs. If a core platform is holding back potential asset growth, it’s time to look for a better solution.

When preparing for a core conversion, there are many things to consider. What are the needs of the credit union members and staff? What core platform is going to serve these needs best? For each credit union, the answers to these questions will be different, but the most important thing for all credit unions to consider are the partners that will join them in this conversion.

Vendors

When preparing for a core conversion, selecting partner vendors is one of the most crucial steps. All credit union vendors have unique offerings and specific uses. Finding the right vendors for your needs may take some time and research, but it will be worth it in the long run.

A few things to consider when deciding what partners are right for your credit union:

• Product Harmony – How will all the products from different vendors work together in one harmonious core platform?
• Training – Will you be responsible for training your team on the new products and services or will the vendor provide training?
• Expense – What is your budget? Will your vendor work with you to stay within budget? Would this expense be an investment that saves your credit union in the long run?

As a credit union vendor, Oak Tree Business Systems Inc. is the perfect partner for your core conversion. With our 37+ years of experience, we provide superior products & services for all your lending needs.

COVID-19 Impact on Core Conversions In 2020

For many credit unions, 2020 was going to be the year for much-needed core conversions. When the virus hit the U.S. in March, plans changed quickly and credit unions had to adapt.

”According to Philip McArdle, director of project management at technology vendor Corelation, a client that was originally scheduled to convert in April requested an additional 30 days to focus on the needs of its staff. Another credit union set to make changes with two core systems in May elected to postpone the start date until late summer in the hopes that team members would be able to work together face-to-face on the conversion site.” –Credit Union Times

For others, delaying the conversion was not an option and facilitators had to come up with creative solutions, including training from home. It is amazing how many credit unions were still able to continue fulfilling these herculean projects during such uncertain times. This is what makes the credit union community great – a willingness and drive to make things better.

No one can be certain when this “new normal” will go back to a level of normalcy that we can be comfortable with, but we know by looking at past pandemics and global situations that recovery will rely on technology. If your credit union has recently switched its core, gotten its first core, or is getting ready for a core conversion, then be sure to contact one of our sales representatives so we can help you build an award-winning platform that will best serve your members and bring growth to your credit union.