Strength to Overcome

Humanitarian Highlight 8.12.21

This week, our focus for Humanitarian Highlight is on credit unions who are giving their community the strength to overcome life’s trials and tribulations.

Bay Federal Credit Union

In Bay Federal Credit Union’s annual fundraising drive, a total of over $27,000 was collected for Children’s Miracle Network Hospitals. The money will go to help children in the various high-quality children’s hospitals the network represents.

West Virginia Central Credit Union

GoPacks, a nonprofit made to fight food insecurity and provide educational programs for children, partnered with this credit union to raise over $10,000. The money was raised through individual donations and contributions from West Virginia Credit Union community members and staff.

Credit Union West

Employees at Credit Union West donated $5,451 to the Firefighter Angel Foundation. This non-profit foundation aims to help children in need by providing essential items and services, particularly those in Yavapai County.

State Employees Federal Credit Union

State Employees Federal Credit Union pledged to donate a significant amount of money to the Special Olympics for every USA victory in the Tokyo Olympics. The credit union pledged $500 for every gold, $250 for every silver and $125 for every bronze. Fans and community members are also encouraged to donate directly through SEFCU’s page on the charity event.

Ascend Federal Credit Union

This credit union announced that their employees had donated 5,279 food items to the Second Harvest Food Bank of Middle Tennessee. Ascend Federal Credit Union held the collection in its corporate office and within all 28 branch locations. The food bank will be donating the collected foods to 27 different agencies. This is the fourth year the credit union has participated in this food drive.

Visions Federal Credit Union

For July 4^th, Visions Federal Credit Union hosted its annual 4 on the 4th Road Race. This charity event supports a charitable organization of the credit union’s choosing, and this year’s event donated to the Southern Tier Veterans Support Group. Over 350 runners participated both virtually and physically, and as a result of the race, the credit union donated over $3,500.

Oak Tree Business Systems, Inc.

These charitable acts benefitting children, veterans, and other vulnerable groups grant people the strength to overcome their struggles, and these credit unions should be praised for them.

If you would like to place an inquiry about being featured in a Humanitarian Highlight or have any other comments or questions regarding our business, please do not hesitate to contact us with any questions through our email or by phone at (800) 537-9598.

Be sure to follow our social media pages if you’d like to see our weekly Humanitarian Highlights segment as soon as it comes up!

3 Keys to More Credit Union Members

3 Keys to More Credit Union Members

How Enticing & Simple is Your Credit Union Membership Application Process?

Every now and then it’s important to take a look at your membership process to make sure it is easily accessible. While you might think you have all bases covered, and you most likely do, it’s always a good idea to take a few minutes and review the process. You want to make sure your credit union membership process is easy and enticing. Address the following areas to ensure a smooth, easy road to membership. Here are 3 keys to more credit union members for your institution!

Awareness.

Have you covered all the bases regarding membership awareness? Is all of your branding in place, easily identifiable, consistent, front and center? Take a moment and look around your credit union. Make sure the first impression a potential member has is that you want him to join your credit union. If you notice an area lacking, make adjustments until it is obvious to anyone who walks through the door that you want him on your team. Also, do the same evaluation of your website. Remember, people like invitations. Your web presence should give them one.

Promotions.

Potential members looking to finance an automobile loan, or obtain a first or second mortgage, will likely turn to a credit union for the low rates and attractive terms. Make sure you have any promotions regarding those services, and any other services you have to offer, in plain view. Look to make sure they have a high degree of physical visibility in your credit union, and online. Promotions can be used as a great hook to get new members. It is important that potential members are aware of anything special you have to offer like introductory rates, online banking, and automatic bill pay. This could be the very thing to entice them to leave their current banks and become members. Oak Tree also offers Marketing Services to help your credit union grow.

Forms.

The easier a credit union application process is, the better. This is why Oak Tree’s fillable forms are a good alternative option. It cuts down on the time it takes for new members to fill out the form, and gives you more time to get to know them as individuals. It makes the process a lot less formal and works to establish a rapport from the beginning. Plus, all of our forms are compliant with regard to disclosure requirements and all other state & federal guidelines. All that is required is simple and accurate data input.

Consider these three areas to be a great starting point. There are other ways to make your membership application process enticing and simple. Just get creative. Work through the process as a new member and make note of any areas you might be able to streamline or make more appealing. Of course, if you need credit union membership forms we are just a phone call away. We are happy to serve and would do anything we can do to make sure our forms contribute to making your membership process as simple and attractive as possible.

Remember, for all of your members we can help them with better credit union lending documents as well!

Inspiring Hope

Humanitarian Highlight 8.5.21

For this week’s #HumanitarianHighlight, we’re looking at credit unions whose donations are inspiring hope in the communities they serve. Whether it is through donations to children’s organizations, or even directly donating a closed branch to a charitable organization, here are some credit unions that go above and beyond to inspire hope for those who really need it.

Redstone Federal Credit Union

This credit union committed $2 million toward the Boys & Girls Clubs of North America for their Doors to the Future capital campaign. This campaign aims to grow the organization through developing new Centers for Advancement, improving transportation, and increasing scholarship funds contributions. The significantly large donation will be paid in parts over the next five years.

Affinity Plus Federal Credit Union

Affinity Plus Federal Credit Union hosted the “2021 Tech Drive Tuesday” donation event that aimed to collect laptop tech for struggling college students. In addition, for every laptop that was donated, the credit union promised to donate $150 directly to Minnesota Computers for Schools.

Pillar Credit Union

Marion Matters for Hope Center received an unusually generous donation: an entire closed branch. Pillar Credit Union handed over the keys to the closed office structure to the organization, which has partnered with them for over ten years. Marion Matters helps community members with financial literacy programs and provides comprehensive education for financially struggling participants.

Power Financial Credit Union

Power Financial Credit Union donated nearly $50,000 to charities that help minority groups and communities in Florida. The announcement was made as part of Power Financial Credit Union’s 70-year anniversary. Each of the organizations will receive over $7,000 to be used at their discretion. These organizations include the Advocacy Network on Disabilities, the Save Foundation, the Jason Taylor Foundation and more.

Eastman Credit Union

A $125,000 donation was made by this credit union to sponsor East Tennessee State University’s Roan Scholars Summer Experience Program. This program offers students a six-week service internship aimed at teaching them how to positively impact the world around them.

Directions Credit Union

This credit union donated $3,000 and over 700 pencils to the Monroe County Library System. These generous donations will go toward summer reading supply kits, which are aimed at inspiring children to complete summer reading logs.

Oak Tree Business Systems, Inc.

Hope is important, and these credit unions, as well as many others we’ve featured before in #HumanitarianHighlight, are greatly appreciated for their charitable and hopeful donations.

If you would like to place an inquiry about being featured in a Humanitarian Highlight or have any other comments or questions regarding our business, please do not hesitate to contact us with any questions through our email or by phone at (800) 537-9598.

Be sure to follow our social media pages if you’d like to see our weekly Humanitarian Highlights segment as soon as it comes up!

To Email or Not to Email Credit Union Members

Important Tips on Credit Union Email Marketing

To Email or Not to Email

We already went into some important rules on email marketing in our Email Dos and Don’ts article, but there is always more that can be discussed about this powerful and cost-effective tool for reaching your members with your services and promotions. Email brings up many compliance risks, and so it is something that should be reviewed. So let us help you with knowing when to email or not to email credit union members.

Why should you continue or create an email marketing strategy?

Most consumers prefer email, and so marketing through their preferred media makes sense. Email is also one of the most cost-effective methods to get your message out to the masses. There is also the fact that email is permission-based. This means someone has to approve the emails, or at the very least, they have the ability to stop the emails. Email is also convenient for the consumer as well as the credit union since they can engage with the brand anywhere they go, and very easily.

What should I use email for?

Consumers love promotions and coupons. Who wouldn’t want to save money on a product or service they need or want? This is the same for contests or rewards programs. You can notify your members of news and updates about the credit union, or your products and services. There are many purposes that you can use emails for.

How do I do it?

There are many providers to help in creating your email blasts, and they are very cost-effective. When you are running your email campaigns, it is important to be aware of the pitfalls that could end up costing you, though.

Let’s go over some important rules when emailing your members marketing materials and creative content. Official rules can be found on the FTC website, and are required for email communication from businesses to consumers. The rules are pretty simple, and it is important that you do not try and work around the basic boundaries, as they are there to protect your members – just like you!

Compliance and Permission

Get consent from your members to use their email addresses for e-communication, and let them know that you are using their info for that purpose. Give them the option to “opt-in,” and always offer email updates and newsletters to your members when interacting in-branch, and in your online communities. Don’t miss opportunities to have members go paperless with the latest news your credit union has to offer.

No misleading information

Avoid misleading information, especially in your subject line! You need to be clear about the content of your email. Your members should not think they are opening an email from a known close friend, but a friendly neighborhood credit union with beneficial rates and services! With so many phishing scams and email hacking going on in the digital age, a clear subject line actually increases your chances of getting your email opened and read, whereas misleading subject lines are becoming more of a red flag.

Based on the FTC guidelines the following tips are very important:

1. Don’t use false or misleading header information. Your “From,” “To,” “Reply-To,” and routing information – including the originating domain name and email address – must be accurate and identify the person or business who initiated the message.
2. Don’t use deceptive subject lines. The subject line must accurately reflect the content of the message.
3. Identify the message as an ad. The law gives you a lot of leeway in how to do this, but you must disclose clearly and conspicuously that your message is an advertisement.
4. Tell recipients where you’re located. Your message must include your valid physical postal address. This can be your current street address, a post office box you’ve registered with the U.S. Postal Service, or a private mailbox you’ve registered with a commercial mail receiving agency established under Postal Service regulations.
5. Tell recipients how to opt out of receiving future emails from you. Your message must include a clear and conspicuous explanation of how the recipient can opt out of getting an email from you in the future. Craft the notice in a way that’s easy for an ordinary person to recognize, read, and understand. Creative use of type size, color, and location can improve clarity. Give a return email address or another easy Internet-based way to allow people to communicate their choice to you. You may create a menu to allow a recipient to opt-out of certain types of messages, but you must include the option to stop all commercial messages from you. Make sure your spam filter doesn’t block these opt-out requests.
6. Honor opt-out requests promptly. Any opt-out mechanism you offer must be able to process opt-out requests for at least 30 days after you send your message. You must honor a recipient’s opt-out request within 10 business days. You can’t charge a fee, require the recipient to give you any personally identifying information beyond an email address, or make the recipient take any step other than sending a reply email or visiting a single page on an internet website as a condition for honoring an opt-out request. Once people have told you they don’t want to receive more messages from you, you can’t sell or transfer their email addresses, even in the form of a mailing list. The only exception is that you may transfer the addresses to a company you’ve hired to help you comply with the CAN-SPAM Act.
7. Monitor what others are doing on your behalf. The law makes it clear that even if you hire another company to handle your email marketing, you can’t contract away your legal responsibility to comply with the law. Both the company whose product is promoted in the message and the company that actually sends the message may be held legally responsible.

It can seem daunting to look at the many things involved in running a legitimate and compliant email marketing strategy. That is why Oak Tree Business Systems, Inc. is here for the credit union community. We are ready to help you strategize and create an awesome email blast campaign that drives your membership numbers and other lending growth numbers. If you have something to add about when and what to email or not to email credit union members, then please let us know on our social media or below.

Contact us today MarketingServices@Oaktreebiz.com or visit our website’s Marketing Services Page to get started.

Providing Food and Supporting Veterans

Humanitarian Highlight 7.29.21 | Providing Food and Supporting Veterans

Humanitarian Highlight 7.29.21

This week, our focus for Humanitarian Highlight is on credit unions providing food to the need and supporting veterans. Both are valuable causes and help those in need, and these credit unions are setting the bar high.

GCS Credit Union

This credit union raised over $30,000 during their fifth annual Tee Up Fore Veterans golf tournament, an event started in the interest of supporting veterans. Several sponsors and golfers contributed to the overall donation, which will be used to sponsor a prepaid vacation for veterans to visit the memorials built for their service.

Jax Federal Credit Union

Jax Federal Credit Union gave generously to Feeding Northeast Florida: a whopping 23,000 meals through food drives and a sizeable $3,700 monetary donation. This foodbank serves millions of meals to families in need in the northeast region of Florida. It is estimated that the combined donation will result in approximately 23,174 meals.

All In Credit Union

Fort Rucker’s Army Emergency Relief Fund received $30,000 due to this credit union’s Annual Golf Tournament, which was held at Fort Rucker’s Silver Wings Golf Course. This emergency fund is a financial assistance program created to help active and retired soldiers with emergency vital care. The golf tournament was started over three decades ago to facilitate donations toward this valuable service.

University Credit Union

University Credit Union has started a three-day initiative to support local restaurants and donate to the Campaign for Ending Hunger. Every order taken at participating restaurants will be matched with a $5 donation toward the campaign by the credit union. The campaign hopes to raise up to $5,000 toward the $100,000 goal, which will support local food banks in Maine.

San Diego County Credit Union

SCCU is hosting it’s 7^th annual “Stuff the Bus” Fundraiser, which aims to purchase school supplies for students experiencing financial hardship or homelessness. The fundraiser takes digital and in-store donations through locations such as Ralphs or Food 4 Less. The event will run through July 31^st in San Diego County.

Clearwater Credit Union

The Community Food and Agriculture Coalition (CFAC) will receive a $25,000 donation from Clearwater Credit Union. This donation will aim to help with food shortages in vulnerable households in the area, as the CFAC estimates 1 in 8 Montana citizens struggle to afford food supplies. It will do so by contributing to the CFAC’s Double SNAP program, which doubles SNAP benefits (up to a certain amount) at local qualifying farmers’ markets.

Oak Tree Business Systems, Inc.

It is incredibly important for society to help those in need. Initiatives like these help some of our most honorable and some of our most vulnerable, and we applaud credit unions for doing them. These credit unions, as well as many others we’ve featured before in #HumanitarianHighlight, deserve praise for their wonderful acts of charity.

If you would like to place an inquiry about being featured in a Humanitarian Highlight or have any other comments or questions regarding our business, please do not hesitate to contact us with any questions through our email or by phone at (800) 537-9598.

Be sure to follow our social media pages if you’d like to see our weekly Humanitarian Highlights segment as soon as it comes up!

How are Credit Scores Determined?

How are Credit Scores Determined?

It’s the time of year when credit unions see an increase in consumer lending. Members seek to secure home loans or financing for an automobile. That means two things are necessary. First, you are going to need compliant consumer lending and/or home equity lending forms. Oak Tree has forms to cover all lending and disclosure requirements to fund either loan type. Our home equity and consumer lending packages are customizable and contain all of the disclosure forms necessary to make the process as simple as possible. When your members ask “how are credit scores determined”, you should be prepared for some answers.

Secondly is a discussion about credit scores. They are perhaps the primary determining factor, and a proper understanding now can help your members secure the best financial opportunities later. Credit scores influence interest rates, loan amounts, collateral requirements, and ultimately whether or not to lend money to a borrower. Here is how they are determined:

Types of Credit. This is actually referring to the types of credit already used by a member and generates 10% of a member’s overall credit score. It’s comprehensive too, including things like a consumer’s mortgage, retail accounts, credit cards, and installment loans.

Amount Owed. This comprises 30% of an individual’s credit score. Things included here are items such as the total number of accounts (and their balances), how much of any credit line is used at any given time, and the ratio of installment amounts owed against the amount already paid.

Credit History Length. 15% of a consumer credit score comes from one simple factor: the amount of time an account has been active. Consumers with new accounts indicate more risk since they are considered new to the world of lending.

New Credit. This makes up 10% of an individual’s total score and accounts for how many credit accounts have been recently opened, and the total proportion of those accounts levied against things like recent inquiries, and any positive reestablishment of credit history if payment was a problem in the past.

Of course, anyone’s credit score will change over time, accurately reflecting current financial behavior. Negative information falls off after so many years regarding things like bankruptcy, lawsuits, or judgments. With all of these factors in the mix, it’s highly possible that an individual’s credit score will look different from one month to the next. This is good information to have on hand when it comes time to discuss lending with one of your members. Our lending forms packages can help you facilitate the process of underwriting to make it as simple as possible. The credit conversation, however, is up to you. It might be great to discuss the importance of credit scores beforehand with those members who are interested in consumer credit. News flash, Oak Tree can help you market those potential members. Contact us at MarketingServices@OakTreeBiz.com

This will allow them to make adjustments before they seek funding, and hopefully, improve their credit score. When the time comes for your members to start the process, you will be ready if you are an Oak Tree customer. They will too since you gave them all the information they needed to properly understand their credit score. If you need consumer lending, or home equity lending forms, contact us today. All of our forms are customized to your needs and can integrate with any data processor. We have you covered, so you can work with your members to improve their credit score so they get the best rates and terms available when it is time for them to borrow!

Oak Tree has been helping credit unions with their lending documents for over 37 years now.

Economic Recovery and Fostering Growth

Humanitarian Highlight 7.22.21 | Economic Recovery and Fostering Growth

Humanitarian Highlight 7.22.21

The last year has not been easy for many, but credit unions are doing their part to help out. This week, our focus for Humanitarian Highlight is on credit unions that are pushing for economic recovery and fostering growth in their communities. Whether through scholarships, community charity, or even making positive changes within their own organizations; here are a few credit unions that are doing their part to help the world recover and grow.

Mass Mutual Federal Credit Union

In keeping with a longstanding tradition for the credit union, MassMutual recently awarded $20,000 in college scholarships to several outstanding students. Each of the ten selected students will receive $2,000 individually, to be put to use in their first year at a college of their choice.

Lookout Credit Union

This credit union, in addition to the efforts of the Idaho Falls firefighters and other donors, helped raise a record-breaking donation (almost $50,000 total) toward the treatment of muscular dystrophy. Lookout Credit Union donated $1,000 toward the goal, a significant portion of the total drive donation.

Michigan Legacy Credit Union

As public discourse over minimum wage mounts, one credit union has made waves in a decision to increase base pay from $13 an hour to $16 – a 23% pay increase. This change will apply immediately to current staff and new hires of the credit union, in the interest of allowing staff to earn a livable wage for the area.

St. Jean’s Credit Union

Following a successful previous grant allotment, the Federal Home Loan Bank of Boston Jobs for New England Recovery Grant Program gave St. Jean’s Credit Union an additional $50,000 in grant money. This grant was quickly distributed to six small businesses and nonprofit organizations in the interest of supporting the selected companies after the events of the last year.

Gesa Credit Union

With over $100,000 in a shared grant pool, Gesa Credit Union is giving away a maximum of $5,000 per approved grant application. The grants are being awarded as part of a newly created Local Heroes Grant Program, which aims to support local heroic and selfless organizations in areas where Gesa Credit Union operates.

American 1 Credit Union & TRUE Community Credit Union

After a few years of planning, a YMCA building in Jackson, Michigan will finally be moving to construction. Several prominent companies and nonprofit organizations contributed to the creation of this facility, two of which are the American 1 Credit Union and the TRUE Community Credit Union. Both credit unions, as well as other significant donors, will receive naming rights for particular rooms in the facility.

New York Credit Union Association

Several credit unions in the New York Credit Union Association have pooled together a joint donation of $30,000 to Cohen Children’s Hospital. A charity golf outing has been held for the last twenty-eight years but was canceled due to the events of the last year. Instead, the NYCUA pooled together a donation that was equal in size to the previous years. This large donation was made toward supporting the treatment of diabetes at a pediatric level.

Oak Tree Business Systems, Inc.

Economic recovery and growth are not going to be easy, but credit unions have always been dedicated to serving the community, no matter how difficult the problem. These credit unions are a small portion of the people dedicated to helping the local community.

If you would like to place an inquiry about being featured in a Humanitarian Highlight or have any other comments or questions regarding our business, please do not hesitate to contact us with any questions through our email or by phone at (800) 537-9598.

Be sure to follow our social media pages if you’d like to see our weekly Humanitarian Highlights segment as soon as it comes up!

Credit Union Email Marketing Do’s and Don’ts

Building a community through digital channels is very powerful in the advancing digital age. Accessibility to your members is easier than ever if you know where to look! As a credit union, it is a responsibility to your members to keep them informed and to promote financial services to qualifying members. Email marketing is a great tool to use when looking for engagement metrics as well as an automated contact channel. Email marketing has the potential to grow your credit union and its services when done well. Here are some tips to up your email marketing game. Check out our credit union email marketing do’s and don’ts.

Do’s: 

1. Be aware of your target audience—Speak the persona that you intend your email to be understood by using certain tones. Focus on your field of membership (FOM strategy). 

2. Define the purpose of your email—Use a good subject line that is most likely to be opened while avoiding spam words and sales-like terms. 

3. Deliver value for the customer—your credit union email should directly convey the value of your services in terms of solution and benefit. Finance literacy is key for your credit union members’ knowledge of what your credit union can offer. 

4. Leverage word of mouth—Use customer reviews and member spotlights as an added signifier of community and trust. Explore credit union referral programs. 

5. Use eye-catching language and UX design—Effective tone and design can make any email stand out! Have a creative team to back up your credit union brand and help your credit union members achieve their credit union lending dreams.

6. Add your headshot/credit union images in the email signature—This personal touch creates a “real person” feel to a bulk/automated email. 

7. Experiment with the call to action and promotions; A/B testing—Try different subject lines and promotions and track what is more successful while growing your email skills. Credit Union

Don’ts: 

1. Use redundant words/technical jargon (unless required)—Everyone favors certain words but no need to show that in an email, expand your vocabulary for your audience. Simplify your message for your members to something that can be understood by many ages and comprehension levels. 

2. Don’t share full blogs on an email—Give your members the option of going to your credit union website to learn more and follow your credit union blog. 

3. Forget personalization—Everyone likes to feel special now and again, include your recipients’ name to take away the “mass email” feeling. 

4. Make the email to long—Keep your email short and concise as to keep the attention and convey your message! 

5. Over promotional—Sales-y speak can often get your email deleted from many an inbox, try and make different connections between consumer needs and helpful service. 

6. Spam filters—Certain terms and titles can put your email directly into a spam folder, make sure you look into current spam indicators. 

7. No option to unsubscribe—Always provide the option to opt-out of receiving emails from your CU. Especially when sending emails about event campaigns. 

8. Not formatting for mobile/devices—Most emails and communication is through mobile devices so make sure to format for this. 

Do you know of any great Credit Union Email Marketing Do’s and Don’ts?

Digital is king and when used wisely can rocket your institution into success as well as grow your digital community! Contact Oak Tree today for a FREE consultation in compliant email marketing campaigns or visit us on our marketing services site. #MarketingTips #CreditUnionMarketing

Focusing on the Future Generation

Humanitarian Highlight 7.15.21

This week, our focus for Humanitarian Highlight is on credit unions giving to an important cause: our future. Indeed, this week’s focus is on credit unions that are focusing on the future generation. Nothing is more important than investing in the people who will inherit the world we live in. Such as: aid programs for sick children, college scholarships for outstanding youth, or even therapy and protection for the young people who just need a little help. Whatever the cause might be, here are quite a few credit unions keeping the most vulnerable in mind.

Black Hills Federal Credit Union

Using a good old-fashioned concession stand, Black Hills Federal Credit Union managed to raise $1,000 in money to be donated to the Front Porch Coalition. This nonprofit group focuses on suicide prevention and mental health, providing interventive mental care as well as preventive materials and counseling.

Texas Trust Credit Union

Texas Trust Credit Union raised $1,250 for SafeHaven, a nonprofit organization that provides protective shelter and food to women and children who are victims of domestic violence. The organization houses over 146 people, half of whom are children. As part of the event, the credit union also donated necessities such as personal hygiene products.

Marshfield Medical Center Credit Union

A fun and special fundraiser was used to raise over $1,750 towards the needs of Marshfield Children’s Hospital and the Child Life program. The fundraiser, appropriately named “Pie in the Face,” allowed donors to contribute to a good cause and also get the opportunity to fund a gigantic pie that splattered David Murphy, the president of the Marshfield Medical Center Credit Union. The donation was composed of $752.82 collected funds, as well as a personal donation of $500 from the president and the credit union itself.

PrimeWay Federal Credit Union

With over $10,500 in scholarships awarded annually, PrimeWay Federal Credit Union has a history of supporting higher education. This year, they added a $1,500 art scholarship to their scholarship initiative, in the interest of supporting aspiring students in the Houston area.

Atlantic Federal Credit Union

Atlantic Federal Credit Union offered a sizeable college scholarship to members who were graduating high school seniors. To qualify, they simply had to apply with a written essay, a reference letter from a teacher or counselor, a resume (with community service provided) and their school transcript. The Atlantic Scholarship Committee reviewed and compared all submissions and chose a winner, as well as four additional winners. The winner received a $10,000 scholarship, whereas each following students won $5,000, $2,500, and $1,500 respectively.

Blue Federal Credit Union

Blue Federal Credit Union proudly announced that a company event to raise money for the St. Baldrick’s Foundation raised a total of $10,090. The event was a fundraiser where eighteen employees agreed to shave their heads in support of St. Baldrick’s foundation, which researches curing cancer in children. The donation amount was collected from individual donations, as well as a company initiative to donate $100 for every company employee who committed to shaving their head.

Michigan State University Federal Credit Union

Michigan State University Federal Credit Union raised over $48,000 for the REACH Studio Art Center and Capital Area United Way, and also donated supplies to the facility. The REACH Studio Art Center serves the community through afterschool programs, which MSU Federal Credit Union has helped fund.

InRoads Credit Union

For four years, this credit union’s “Team Up for Schools” organization has raised over $234,000 for schools in the communities they serve. This was done through a combination of individual donations and a fantastic promotion where any members who use a high school-themed debit card would have 5 cents donated by InRoads Credit Union.

Oak Tree Business Systems, Inc.

Providing for the future education and health of young adults and children is beyond a noble goal: it is a necessary one for the strength of our country. These credit unions, as well as many others we’ve featured before in #HumanitarianHighlight, realize this truth and are doing their part to help.

Thank you for reading this Humanitarian Highlight! Please do not hesitate to contact us with any questions about our products and services through our email or by phone (800) 537-9598.

Lending Checklist for Credit Unions

Lending Checklist for Credit Unions

Have you heard the good news? Credit union lending is on the rise. Starting in 2018, many credit unions outsold banks and it’s still going strong. That’s right. According to the latest Federal Reserve report, credit unions passed banks by securing more loans for credit cards and automobiles. That’s great news! In light of this, we thought it would be a good idea to walk through a lending checklist for credit unions with you. We know you’ll want to position yourself to take advantage of the momentum.

Lending Checklist for Credit Unions

🔲 Awareness.

Are your members aware of the different types of loans you offer? Each member has the potential to become a new loan customer. Make sure your staff is in tune with as many members as possible. Being aware of their financial situations will let you know which loan products to offer. Also, make sure you pitch mobile loan application processes, too. This may encourage shy members to initiate a loan, especially if they are unsure of their credit. They can always come in later to finish.

🔲 Forms.

Make sure you are using compliant forms. The National Credit Union Administration (NCUA) nor The Consumer Financial Protection Bureau (CFPB) take compliance lightly, and neither do we. We offer great consumer forms, as well as forms for home equity lending. We work hard to make sure our forms are compliant and accessible. Each package has several different delivery methods and will easily integrate with your data processor. The backbone of good lending is compliance. We have you covered there.

🔲 Marketing.

Do you have campaigns ready for each season? Do you know when to offer home equity products and when to pitch automobile loans? We have a fully-staffed marketing department that is ready to help you craft a targeted campaign that will deliver results. One phone call is all it takes to get started.

🔲 Member Checklist.

Leave it to us to have a checklist within an article about that very thing. Your staff also needs one for members, though. Nothing is more frustrating to a member than talking with a loan processor who is unprepared. Make sure your specialists have a reference list of specific items they will need from your member, according to which product they are applying for. Also, make sure to keep all necessary forms on hand in one easy-to-find place, so that starting the underwriting process is a breeze. 

Tick off the items on this checklist to prepare for the lending momentum heading your way. The ball is already in motion. To paraphrase a quote from one popular television show, “Spring is Coming.” Consumers will spend through spring and summer. There are several major holidays tucked in there, after all. Positioning yourself now will allow you to ride the wave later. Help your members’ accounts stay on a happy note. Do that, and their attitude towards your credit union will be the same!

Mending the Community

Humanitarian Highlight 7.8.21

Humanitarian Highlight 7.8.21 | Mending the Community

For this week’s Humanitarian Highlight, let’s take a look at how CUs are mending the community they serve. Is your credit union a stand-out when it comes to charity and community? Then hit us up on social media and let’s help get the word out on your good works!! From virtual games to veterans and the most vulnerable let’s look at how CUs are mending the community they serve.

SAFE Credit Union

SAFE CU donated $20,000 each to Soil Born Farms and Allegiant Giving. Both of these organizations have programs that assist military veterans transitioning into civilian careers. Allegiant Giving is using the generous donation from SAFE CU to help pay for veteran’s certification tests through its online education program. SAFE CU aims to help anyone and everyone in their community.

Sky Federal Credit Union

SKY FCU partnered with Montana DECA to host the first annual Virtual Game-Of-Life event. The event was a virtual financial reality fair available to all high school students in Montana. Over 2,500 students attended the event from over 90 high schools across Montana. SKY FCU was very happy about the massive turnout for their event. It is very important for them to be able to share financial knowledge with everyone in the community and doing so through the youth is a great outlet to do that.

Tropical Financial Credit Union

Tropical FCU awarded $10,000 in scholarships to 3 students continuing their education in the fall. One student got a grand prize of $5,000 and the other two students got $2,500 each. Tropical has granted scholarships to students for the past 8 years. Previously, they gave out 10 $1,000 scholarships, but this year they wanted to make a bigger impact and ease the financial stress more. The students were picked based on their 500-word essays, resumes, and volunteer work.

United Federal Credit Union

United FCU held a sweepstake, “Drive Away Happy Auto Loan Event.” They randomly chose a winner to award $6,000 towards their auto loan payments. The generous donation will greatly help the winner with her auto loan payments. She emphasized how much this money will help her, not only with her car payments but now she can put more money towards other necessities. There were also other winners in the sweepstakes, United FCU awarded a choice of 90 days of no payments or $100 cashback to all approved loan Members. United FCU wants all of its members to feel supported by them.

Lake Michigan Credit Union

Lake Michigan CU organized their Band Together Campaign for the seventh year in a row. The campaign is to support child care in their local communities. This year, LMCU was able to raise $75,000. Lake Michigan CU’s members and community came together to provide the best care for children and their families.

TopLine Federal Credit Union

TopLine FCU hosted its annual Personal Care Drive in May. The drive benefitted three local non-profits. TopLine FCU members and employees donated a variety of personal care items like body wash, toothbrushes, diapers and so much more to community members in need. TopLine members and employees donated over 1,100 personal care items to help local families in need.

Oak Tree Business Systems, Inc.

Thank you for reading this Humanitarian Highlight! It was great to see how CUs are mending the community they serve. Please check out last week’s, and please do not hesitate to contact us with any questions about our products & services through our email or by phone (800) 537-9598.

6 Tips for a New Credit Union Data Processor

How to Shop for a New Credit Union Data Processor

Shopping for a new data processor can be overwhelming… so many options, and so many things to consider. How do you know if you are making the right choice? Here are 6 tips for a new credit union data processor to consider while you shop. Cover these, and the rest is just commentary.

Functionality. 

Does the new system offer real-time processing? How easy is it to use? Both of these questions speak to functionality. Many data processing companies produce software with amazing bells and whistles. Just make sure it still fits your needs with regard to access, usability, storage, and backup.

Reliability and Security. 

With cloud-based systems, data processing software reliability is at an all-time high, but security breaches are also becoming more common. If your proposed provider cannot offer a guarantee with regard to reliability, keep shopping. There are plenty of other providers.

Integration. 

How easily will your new system integrate with your current lending software? Integration is a must for a data processing switch to be solvent. This should be priority number one. If it does not integrate, disregard all of the other nice features and continue your search.

Cost. 

This one can be tricky. Notice we mentioned cost, and not price. You may find a product that is priced cheaper but could actually cost you more in the long run. If certain capabilities (like forms integration) are not part of the package, then you could potentially spend more on labor down the road. Ask questions, and always ask for a discount… especially if you are a new customer!

Time Frame and Training. 

How long will it take the data processor to make the switch and train your staff? This is one of the rare instances in business where time literally is money. You may not be able to afford to have your system down for days in order to make the switch. Make sure you clarify beforehand, then communicate with staff and customers to keep frustration at bay.

Longevity. 

Will this system need to be upgraded every five years? Will it be obsolete in ten? Ask about longevity to prevent unnecessary spending in the future. You want to make sure your data processor can grow with you.

Regardless of what core you currently are using, or decide to upgrade to, you can be sure that Oak Tree will be there for your document needs. Our Data Linking services will ensure that everything works.

Unity

Humanitarian Highlight 7.1.21

Humanitarian Highlight 7.1.21 | Unity

For this week’s Humanitarian Highlight, let’s take a look at CUs displaying unity in their communities. Is your credit union a stand-out when it comes to charity and community? Then hit us up on social media and let’s help get the word out on your good works!! From diapers to baseball and the most vulnerable let’s look at how CUs display unity in their communities.

Truity Credit Union

Truity CU came together with 50 other local businesses that held fundraisers for Bartlesville Regional United Way. About 41,000 individuals in the local area have been helped by the organization’s 14 non-profit partners. This is all possible because of the generous donations made by many businesses. Truity CU donated over $50,000 to the program. This generous donation was able to provide COVID-19 relief for many people in the area. It is great to see so many local businesses coming together to help one another.

Royal Credit Union

Royal CU teamed up with a few business partners and was able to raise $39,000 for the Junior League of Eau Claire Diaper Bank. Over 21,000 diapers and 6,000 wipes are being distributed at a local food bank. The large donation will be used to purchase more diapers and wipes for the food bank. This will relieve stress on families struggling to purchase these necessities. Royal CU was able to partner with other local businesses to achieve this and be able to provide a positive impact on their community.

PFCU

Employees at PFCU raised almost $4,000 for IM Kids 3^rd Meal. Each quarter the PFCU employees get to pick a charity to donate to. This quarter was IM Kids 3^rd Meal, a program that provides meals to local children that struggle with food security. The program is raising funds to be able to purchase a truck with a lift gate so it is easier to distribute the meals to children. The donation from PFCU was almost half of what they need. The program is well on its way to meeting its goal of $10,000 for the truck. PFCU wants what is best for its community and is willing to do what it can to achieve that.

Freedom Federal Credit Union

Starting the opening day, Freedom FCU partnered up with the Aberdeen IronBirds baseball team to raise money for Hits for Healthy Kids. Each time an IronBirds player gets a hit, Freedom FCY donates $10 to the program that benefits children a part of the local Boys & Girls Clubs. Freedom FCU has partnered with the Boys & Girls Clubs for almost 10 years and continues to show its support through Hits for Healthy Kids. They are able to provide more opportunities for the youths in their area.

CAP COM Federal Credit Union

CAP COM FCU donated $5,000 to 20 non-profit organizations in the Capital Region. The 20 donations will make huge changes to various organizations that have been struggling since the beginning of the pandemic. Many of the non-profits are using the money to update their amenities or shelters for their occupants. The 20 organizations that received the donations are “superstars” for the effort and impact they have to contribute to their communities. CAP COM FCU has greatly impacted their communities with these donations and displayed unity within their community.

Reliant Credit Union

Reliant CU recently awarded 12 scholarships to any Reliant member attending a 2 or 4 year school this fall. The students chosen were based on their demonstration of the CU motto, “people helping people.” The recipients of the scholarships did not just show academic excellence but also volunteers in their community. Reliant CU has been awarding the Donald K. Rhine scholarship since 1998 and helping members achieve their academic dreams.

Oak Tree Business Systems, Inc.

Thank you for reading this Humanitarian Highlight! It was great to see CUs display unity in their communities by supporting them. Please check out last week’s, and please do not hesitate to contact us with any questions about our products & services through our email or by phone (800) 537-9598.

Print Versus Digital Forms in Lending

Printable Versus Digital Forms: A Different Process for Each in the Loan Process

Credit Union Digital versus Printed forms for Lending

Credit unions today are all about options. Forms are no exception. While many use paper forms for the majority of their processing with no issues, digital forms can speed up the process by making it more efficient. Let’s highlight the differences by comparing print versus digital forms in lending.

Printed Forms Loan Process

• A member makes a loan request and is paired with a team member.
• The team member explains different options to the credit union member and provides them with a loan application to fill out.
• The member may fill out the application at the credit union or take it with them and return later with a completed application.
• From there, the loan is underwritten and funds are supplied for the member to make a purchase.

This is how many credit unions have approached consumer lending for years. However, with an increase in member growth via membership rule changes and mergers, many other credit unions use digital forms as an integral part of their process, because it streamlines efficiency. Take a look at the section below.

Digital Forms Loan Process

• Forms are stored online. A member may either make an inquiry in-person to a team member or inquire online.
• If a team member is asked, they will point the client to the loan section of the credit union’s website.
• The member accesses the form online and provides the necessary information.
• A team member follows up with the credit union member for processing and approval.

Indirect Benefits of Digital Forms

Clearly, digital forms are more efficient. They save time since credit union staff can point members to their website to fill out forms for pre-approval. A follow-up can be scheduled for a time that is convenient. Digital forms are productivity producers. Also, since the process is more streamlined, the potential for servicing more loans is very real. Digital forms can provide an indirect increase in lending growth simply because credit union staff have the capacity to serve more members.

The key is being able to market the service tactfully. Some members may feel like they are being discounted when asked to fill out a loan application online. Disabled members may also prefer print documents to digital documents. According to the National Federation of the Blind, an estimate of as many as 10 million Americans are blind or visually impaired, such as having difficulty reading or are unable to read letters in regular print, even while wearing ordinary glasses. It’s all a matter of perspective, though. The fine line is the difference between shuffling a member over to an online portal versus presenting them with an easy-to-use online loan application process they can complete in their spare time.

Of course, there will always be those individuals who prefer printed forms to digital forms, and vice versa. That’s why we provide compliant options for both. We work with any data processor and insurance carrier nationwide. If you have a question about how digital forms can streamline your lending process, we can help. Print versus digital forms in lending seems pretty clear cut, but you always have to look at your credit union’s situation for any particulars.

Email clientservices@oaktreebiz.com for more information. We have almost 40 years of industry experience and are ready to put it to work for you.

Community Leaders

Humanitarian Highlight 6.24.21

For this week’s Humanitarian Highlight, we want to take a look at how, even in these challenging times, CUs continue to be community leaders. Is your credit union a stand-out when it comes to charity and community? Then hit us up on social media and let’s help get the word out on your good works!! From recycling to baseball and the most vulnerable let’s look at how CUs maintain their positivity and stand out as community leaders.

Premier Members Credit Union

In April, Premier Members CU hosted their first electronics recycling event. Over 600 employees and members participated in the event. As a result of the larger participation, Premier Members CU collected 27,307 pounds of electronics that would have been in the landfill. This resulted in a 41,817-pound reduction of greenhouse gases. The event was held in honor of Earth Week and to raise awareness of the environment and our impacts on it.

Advantage One Credit Union

Advantage Once CU values education in their community. In honor of supporting continuing education, Advantage One has awarded a $2,500 scholarship to three students to further pursue their education journey. The students were chosen based on essay submittal as well as academia. Advantage One CU is committed to the credit union philosophy, people helping people,” and continues to prove that regularly.

Midwest Members Credit Union

Midwest Members CU has been donating to the Tri-City Baseball/Softball League for the past 6 years. It is very important to them to make an impact on their community and this is a perfect way. Sports brings together not only the children playing the sport but also the families. Midwest Members CU donated $5,000 which goes towards keeping the league registration fees at a low cost so anyone can participate in baseball or softball. Over the last six years, Midwest Members has donated $45,000 to the Tri-City Baseball/Softball League.

Redstone Federal Credit Union

Redstone FCU donated certified CPR training kits to 5 high schools. These kits will be used to teach students priceless lifesaving training. The kits are worth about $20,000. The training the students will receive can be used to potentially save lives. Redstone FCU recognizes the importance of this invaluable knowledge that the students can share.

Northern Credit Union

Northern CU in Watertown, New York donated to the Carthage Area Hospital Foundation (CAHF). The donation of $3000 goes directly to the Carthage Area Hospital. Whether it is towards equipment purchases or healthcare expenses, the donation will make a big impact on the hospital. Northern CU wanted to show their gratitude to the Carthage Area Hospital healthcare workers and especially during the past year, they have faced difficult challenges. This donation does not just give back to the hospital, but also to the community.

 SRP Federal Credit Union

The SRP FCU donated over $138,000 to Aiken County Public School District. They raised this money through a high school debit card program. After each purchase with the debit card, SRP donates 5 cents. The donation will be allocated to multiple schools in the district for an assortment of different funding needs. SRP FCU employees and members realize the importance of funding needed for schools in their community.

Oak Tree Business Systems, Inc.

Thank you for reading this Humanitarian Highlight! It was inspiring to see CUs standing out as community leaders, especially during these challenging times. Please check out last week’s, and please do not hesitate to contact us with any questions about our products & services through our email or by phone (800) 537-9598.

5 Reasons Credit Union Lending Beats the Bank

5 Reasons Credit Union Lending Beats the Bank

The next time one of your members thinks about getting a loan to make home repairs, finance a new home, or purchase a vehicle, use the five tips below to help the member choose you as a lending option. People often operate under the assumption that a bank is the only place that can serve their lending needs. It might be time for you to shine a little light on the subject for the potential borrower. Listed below are our 5 reasons credit union lending beats the bank for lending.

5 Reasons Credit Union Lending Will Beat a Bank Every Time

1. Higher Approval Rates If your member’s credit is stained, dirty, or needs a bit of repair, your credit union is much more likely to be accommodating than a bank. Though the loan terms and processes are very similar, credit unions are known for listening to their members’ needs. Credit unions are most likely to understand that unique situations occur, and will work toward loan approvals. They will even adjust loan terms accordingly in some instances. Book any type of loan when you use Oak Tree forms.

2. Better Rates To explore this, let’s look at vehicle loans. Typically, most of us will secure a five-year loan for a vehicle. The rate at the credit union will be much lower than the interest rate at a traditional bank. It may only look like a 1% difference, but that 1% can add up to thousands of dollars put back into your member’s pocket during the life of the loan. Oak Tree forms stay on top of state and federal compliance laws and their ongoing changes, which supports low-interest rate loans.

3. Better Services Since credit unions are classified as nonprofit, they don’t answer to a shareholder board. Operation decisions are usually made by a volunteer board, rather than corporate office appointees. To that end, members feel much more comfortable talking to their credit union about payment options and services. It is much easier to talk to someone when you feel like they genuinely have your best interest at heart. In addition, Oak Tree seamlessly integrates your credit union forms into your data processing system with Data Linking, allowing for faster loan processing, and saving your members time.

4. Educational Resources Your credit union may have a resource center, which serves to educate your members on different finance options, financial products, and bank accounts they may have. Utilizing this resource can aid members in making a decision that best suits their needs when it comes time to secure a loan or otherwise. In addition, your credit union will probably go the extra mile, being a member-driven financial service institution. For instance, the credit union may determine the value of a vehicle so the member feels good about the loan before applying. Since the credit union is nonprofit, their answers are unbiased, so members know the credit union is not trying to inflate or deflate the value of the vehicle to stick them with a higher-rate loan. Oak Tree also offers training so your credit union staff is ready to use our forms and help members obtain the best loan.

5. No Selling Since they are nonprofit, credit unions essentially work for you. There is no incentive for them to sell you any new product or service. All profits generated by the credit unions go back to members, showing up in lower interest rates or new financial products, like different savings account loan options. This makes it easy to find a credit union that meets your needs. This, in addition to a faster loan processor, will lead to word of mouth from happy members.

Now you can put a bug in your member’s ear so to speak, the next time the subject of lending comes up. Use these 5 tips to promote yourself. Of course, Oak Tree will stand ready as your forms provider. The friendly, consistent, and trustworthy nature of your credit union, coupled with our compliant lending forms, will ensure that your members have a great borrowing experience. Members will be glad they made the switch!

CUs Expressing Gratitude

Humanitarian Highlight 6.17.21

For this week’s Humanitarian Highlight, let’s take a look at CUs expressing gratitude for their communities. Is your credit union a stand-out when it comes to charity and community? Then hit us up on social media and let’s help get the word out on your good works!! From anniversaries to new ambulances and the most vulnerable let’s look at how CUs are expressing their gratitude within their communities.

Atlanta Postal Credit Union

Atlanta Postal CU participated in their local Channel 9 News Food Drive. They were able to collect over 5,500 pounds of food for various food banks in the region, it will be able to provide almost 4,500 meals for those in need. APCU collected 974 pounds of that food for Feeding the Valley, a member of the Georgia Food Bank Association. The amount of food they collected will provide a few hundred meals. APCU has contributed a lot to those struggling during these difficult times.

AmeriCU Credit Union

AmeriCU awarded ten $1,000 scholarships to students that are continuing their education or starting college in the fall. The CU has awarded scholarships to students every year for the last 20 years, it is very important to them to keep the tradition active. Education is very valuable and being able to provide assistance so they can achieve their education dreams is inspiring.

Kemba Financial Credit Union

KEMBA FCU has recently announced a $100,000 donation to the Mount Carmel Foundation. The donation will go towards Mount Carmel’s Street Medicine program. Some of the proceeds will go towards the purchase of reliable transportation to provide faster and safer healthcare to those in need. The foundation helps anyone that has trouble accessing medical care. This large donation will be able to make a huge difference in the foundation as well as their patients’ lives with quicker and more reliable transportation for the patients.

Hiway Credit Union

Hiway CU donated $100,000 to the Hiway Foundation in honor of their 90^th anniversary. The foundation was established in 2017 to strengthen and aid their community. The last year has been very difficult for many. Hiway CU‘s additional donation to the foundation will go towards organizations that address food insecurity, education, and civil rights in their community. Hiway CU listens to their community and has been for 90 years. They have donated and supported many local organizations over the years.

Abound Credit Union

Abound CU prioritizes education in their community. In addition to their financial education program for all fifth graders in Harding County Schools, they donated $5,000 to assist students with the transition from elementary school to middle school. The donation will be used to implement financial literacy through community events led by the students. This is an opportunity to show the community and families the students’ foundation of financial literacy. Teaching financial literacy to children is a valuable skill they will be able to apply their entire life.

City & County Credit Union

City & County CU gave back to local non-profits through their making the Greater Good Even Greater contest. The contest nominates local non-profits for a $2,000 donation for doing good deeds in their community. The local businesses and non-profits are nominated by City & County members. Once the contestants are finalized, they hold a Facebook vote and from there, determine the winners. This year, Ruby’s Pantry and Little Gosling’s Daycare each won the $2,000 donation. City & County CU loves celebrating local organizations that make a difference in their community, as well as raising awareness for all of the contestants’ organizations.

Oak Tree Business Systems, Inc.

Thank you for reading this Humanitarian Highlight! It was great to see CUs expressing their gratitude for their communities by supporting them. Please check out last week’s, and please do not hesitate to contact us with any questions about our products & services through our email or by phone (800) 537-9598.

Credit Union ComSec

Confidentiality, Communications Security and Other Issues That Put Sensitive Info at Risk

Credit Union Communication Security

Communications Security, also known as ComSec is the protocols put in place to secure the communications and data of an organization. Credit Unions handle tons of personal data, millions to billions of assets, and must comply with an ever-evolving and changing regulatory landscape — so credit union ComSec is a concern for all credit unions.

The digital age grows stronger every day, and with innovation comes breaches and security threats testing the boundaries and strength of each new step forward. With the growth in technology and widespread information sharing, financial institutions need to keep up with the movement and continuously be aware of the current security state. Gone are the days when safes and locks kept the gold in one place, and physical evidence was needed to prove identity. 

As a primary institution, members rely on credit unions to protect their valuable assets from the growing dangers of identity theft, breaches, fraud, etc. … This protection begins in-branch with tightening operations to a lock and key level, starting with security protocols and placing restrictions on documents and member information so that it is not treated like an old newspaper. We can’t forget about moments like Wendy’s data breach.

We do not realize how accessible internal and personal information is to inside and outside threats. A simple document may contain valuable information like birth dates, social security numbers, maiden names, etc. – and the disposal and treatment of this common document are treated as such. Placing disposal protocol on information-sensitive documents protects your FI and your members.

In today’s society, a released phone number can create months of spam calls and even fraudulent phishing scams to individuals. Even basic member information can be used against them in the wrong hands, and it is the responsibility of your credit union to create a safe storage space for their assets, both monetary and identity.

Credit Union Employee ComSec

Building on a more secure physical workspace starts at the employee realm. Have organized workspaces, and keep documents in the right place for certain needs. A messy desk can turn into a quick toss of member-sensitive documents for the purpose of clearing space. Organizational systems create a sense of order and security for employees and members.

Creating a hierarchy of accessibility can be a spearheaded plan for identity protection. Not all of your credit union employees need access to member information and documents containing it. Continuing the organization into tasks – the credit union employees that complete tasks using certain documentation are the only people who need access to those documents. This creates a lowered risk of lost documents and the spread of information.

Beyond the physical branch, accessibility restriction for digital systems is of utmost importance. So many attacks are digital, and it is important to keep system data fully secured and protected. Always keep devices and applications password protected with unique and varied passwords — Check in with core processor vendors and data linking companies to ensure security integrity.

Above all, the best way to protect your members is by helping them to protect themselves. Distribute fraud security tips with new accounts as well as reminder emails to update your members about current scams and threats. This effort not only protects your members but also builds trust and loyalty between members and FI.

Oak Tree offers compliant solutions to data linking for complaint lending and works with every data processor for smooth and simple integration. We also offer marketing services to help your credit union reach your members and share fraud security tips, tricks, and event updates. Contact us today to learn more.

Building Blocks of Communities

Humanitarian Highlight 6.10.21

Humanitarian Highlight 6.10.21 | Building Blocks of Communities

For this week’s Humanitarian Highlight, we want to take a look at how CUs have become essential building blocks of their communities. Is your credit union a stand-out when it comes to charity and community? Then hit us up on social media and let’s help get the word out on your good works!! From scholarships to local businesses and the most vulnerable let’s look at CUs have become essential community building blocks.

Alliance Credit Union

Alliance CU held a shred day to raise money for the Texas Boys Ranch. Thanks to their members and community, they were able to raise almost $4,500. Texas Boys Ranch is a foster care and adoption ranch that houses boys and girls in small group homes. The large donation from Alliance CU will be able to feed 21 children for about 6 months.

Alternatives Federal Credit Union

Alternatives FCU is partnering with Black Hands Universal to help people of color and Indigenous people in their local community to help fund housing or businesses for them. The partnership between the philanthropic organizations was a result of an alignment in their want to help the community. They both want to help those who have not had the same opportunities as others with their finances. AFCU can grant awards to people that make less than the stated amount with a viable business idea as well as matching and encouraging savings accounts. As for the housing program, the partnership wants to be able to award eligible families up to $20,000 to help with purchasing a home. AFCU and BHU are inspiring to see their dedication to helping their communities.

1st MidAmerica Credit Union

The American Cancer Society Colors of Cancer Metro East fundraiser raised almost $30,000 during the month of April. Many organizations participated in the campaign and each chose a cancer type and the coordinating color that represents it. 1st MidAmerica CU raised over $5,000 for breast cancer. They raised the funds as well as held educational programs to raise awareness for their members and employees. The Fundraiser raised a total of $29,000 for the American Cancer Society.

Member One Federal Credit Union

Member One FCU donated $1000 to feeding Southwest Virginia in honor of their 80^th annual meeting. The donation was made in honor of their members. Member One FCU has partnered with Feeding SW Virginia for many years, in fact, they have been able to provide 35,000 meals in the past year. Member One FCU is dedicated to feeding their community and helping fight hunger in their community.

First Financial of Maryland Federal Credit Union

First Financial FCU recognized 49 high school seniors and granted them scholarships to celebrate the Class of 2021. The scholarships totaled $147,000 and over the past 23 years the program has been active, they have gifted over $2.1 million in scholarships. These scholarships have benefited more than 650 graduates since the beginning of the scholarship program. Education is very important to First Financial FCU and they will continue to help these outstanding students in their academic endeavors.

Peach State Federal Credit Union

Peach State FCU C.A.R.E.S. Foundation has donated $177,000 in scholarships and grants to graduating class of 2021. Their scholarship program has been effective for the last 19 years and has donated more than $1.7 million to students. Peach State FCU awarded 26 scholarships to members that are continuing their education and 7 student scholarships for incoming college freshmen. They also awarded educational grants to local schools. Peach State FCU values education and continuing it in their community.

Oak Tree Business Systems, Inc.

Thank you for reading this Humanitarian Highlight! It was great to see CUs contribute to the building blocks of their communities during these challenging times. Please check out last week’s, and please do not hesitate to contact us with any questions about our products & services through our email or by phone (800) 537-9598.