Soaring to New Heights

Humanitarian Highlight 1.28.21

Press play and see what our #CUfamilies have done to help their communities soar to new heights in this week’s #HumanitarianHighlight!🪁 Is your credit union soaring to new heights?

If you see a #creditunion making a difference, let Oak Tree know so we can give them the recognition they deserve!📣👏 

Chartway Federal Credit Union

Chartway’s charitable arm, We Promise Foundation, and its board of trustees has donated an outstanding $600,000 grant to ensure that children who are facing medical hardship or illness can experience the joy and hope that they deserve.

“2020 was certainly a year like no other,” said Brian Schools, President, and CEO of Chartway FCU. “Every day brought new challenges, which is why we’re more grateful than ever for the support of our sponsors, partners, members, volunteers, and team members who helped us navigate the unprecedented global health pandemic to raise more than $600,000.”

“We are proud to partner with so many charitable organizations who seek to do good and change the world for children facing medical hardship.” Karen Lane, Executive Director of Chartway’s We Promise Foundation.

Skyward Credit Union

Skyward CU lends a helping hand to their community and gives a donation of $9,000 to Consumer Counseling Services of Kansas. This is a locally run non-profit organization, and they offer resources dedicated to providing financial stability to Kansas families in need.

Indiana Members Credit Union

IMCU generously presented a check for $1,500 to their local Cardinal Ritter High School, which participates in an ongoing school spirit debit card program. Since the beginning of the program in 2018, Cardinal Ritter High School has earned $3,000 through this IMCU giveback program. The partnership allows fans of the high school to show their school spirit and support the athletic program by signing up for a Raiders-themed debit card, and every time the card is used as a signature-based transaction, Cardinal Athletics benefits. Truly soaring to new heights!

Maui County Federal Credit Union

Wanting to honor Martin Luther King Jr. Day, Maui County CU held a “virtual day of service” project to give back to people in their community who are struggling. The participants put together bags with needed items including personal hygiene products, and non-perishable food items. These bags were later distributed to those in need in the surrounding areas.

Kinecta Federal Credit Union

Giving back in a big way, Kinecta FCU’s 47th Annual Holiday Food Drive had major success. With the help of their employees, members, local community, sponsors, corporate donors, and individual donors, they collectively raised over $94,200 which aided more than 1,000 local families who are facing food insecurity.

Greater Texas Federal Credit Union

Greater Texas FCU matched $5,000 in donations to Austin Disaster Relief Network as part of ADRN’s Giving Tuesday campaign. Their program partners with churches and volunteers in the Greater Austin area to serve those in crisis by providing immediate monetary, housing, and counseling resources, as well as long-term repairing and rebuilding.

GreenState Credit Union

GreenState CU gifted a check of $100,000 to support a very critical fund within the UI Stead Family Children’s Hospital. The children’s hospital has a fund that has been dwindling due to the strain of COVID-19 cases. The donation is the largest gift to date from this account.

“Thank you to GreenState Credit Union for providing our patients and families with support during these difficult times, made even more challenging with the pandemic.” University of Iowa Center for Advancement President and CEO Lynette Marshall.

Thank you for tuning in to our Humanitarian Highlight! These credit unions are truly soaring to new heights. We’ll be back next week with more generous credit unions! Please check out last week’s post, and please do not hesitate to contact us with any questions about our products & services through our email or by phone (800) 537-9598.

Helping Others Grow

Humanitarian Highlight 1.21.21

Another week, another #HumanitarianHighlight where we showcase all of the amazing efforts put forth by our #CUfamily 🌳🌻 Helping others grow is what the #CUdifference is all about, and Oak Tree is grateful to be a part of this community! If you know a credit union that has gone above and beyond in making a #CUdifference, use our hashtag #HumanitarianHighlight to let us know about it, so we can give them a shout-out! Credit unions are about helping others grow!

1st Community Credit Union

Wanting to help local organizations during these times, all three of 1st Community Credit Union’s branches came together and were able to successfully donate a total of $9,000 to organizations in their local community including the Tomah, West Salem, and Sparta regions. 

Affinity Plus Federal Credit Union 

Affinity Plus FCU generously donated a $2,000 Campus Scholarship to a student in their community who is studying music education. This donation came from the Affinity Plus Foundation, where their mission is to “Engage, Educate, and Empower. Supporting students, educators, and community organizations in their pursuit to better themselves and their communities.” Affinity Plus Foundation 

Ascend Federal Credit Union 

The largest CU in Middle Tennessee, Ascend FCU, amazingly came up with a donation of $50,000 to present to Monroe Carell Jr. Children’s Hospital at Vanderbilt. Ascend has always shown its support and admiration for the hospital, and what it stands for. 

“Ascend is committed to supporting organizations that are making a difference in the lives of people in our community and the state of Tennessee. Because of the work being done by the hospital, children receive the care they need regardless of their families ability to pay. We are honored to help fund their team’s pioneering research into finding innovative ways to cure and prevent disease.” Caren Gabriel, Ascend president and CEO 

Visions Federal Credit Union

During these cold winter months, Visions’ Apalachin and Owego offices teamed up and collected donations which included scarves, hats, gloves, and boots to keep those in need warm. They were also able to make a donation of $500 to be used for purchasing children’s coats, which would go to the students of the Apalachin-Owego School District. 

TopLine Federal Credit Union 

This year, TopLine rings in their 22nd Annual Holiday Gift Drive, and a very successful one at that! They were able to fulfill six-holiday wish lists for young families in their community, donate over 540 gifts, donate 185 handmade scarves, and came up with $660 in gift cards as well as over $600 in cash to their charitable partners. All of these amazing gifts truly made for a special holiday for families in their local communities. 

Firefly Credit Union 

During Firefly’s 4 Days of Giving, their Diversity and Inclusion Advisory Council was able to donate a total of $10,000 to four deserving organizations, with each organization receiving a donation of $2,500. The organizations included were Youth Link, Council on American-Islamic Relations (CAIR), Community Bridge, and YMCA. “We are thrilled to donate to four local minority and women-sponsored organizations that make such a positive impact on our communities.” Reyna Staats, Head of the Diversity and Inclusion Advisory Council. 

San Diego County Credit Union 

SDCCU partnered with 103.7 KSON Radio and proudly supported St. Jude’s 33rd Annual Radiothon. Members of the credit union and the local community were encouraged to help raise awareness and contribute, if they could, to the cause. With all the support behind them and a reason to give, they were able to raise $240,582 in donations to help save children with cancer and other life-threatening illnesses. 

“The mission of St. Jude Children’s Research Hospital is to advance cures, and means of prevention, for pediatric catastrophic diseases through research and treatment. Consistent with the vision of our founder Danny Thomas, no child is denied treatment based on race, religion, or a family’s ability to pay.” St. Jude Children’s Research Hospital 

Thank you for reading this Thursday’s Humanitarian Highlight! Please check out last week’s post, and do not hesitate to contact us with any questions about our products & services through our email or by phone (800) 537-9598.

Fuel the Light

Humanitarian Highlight 1.14.21: Fuel the Light

Humanitarian Highlight 1.14.21

It is time for this week’s #HumanitarianHighlight you guys! We are so excited to present to you all of these amazing #creditunions and the #CUdifference they have all made in their communities. Let’s get started, shall we?!  Also, if you know of a #creditunion who has positively impacted their community, tag us and let us know so we can ensure they get recognized! Let’s see how they fuel the light!

Volt Credit Union

Giving back to the children in their community, Volt Credit Union presented a check of $10,000 to The Child Advocacy Center, Inc. The amount was donated by Volt’s members, others in their local community, and those donations were matched by the Volt Foundation.

TruStone Financial Federal Credit Union

TruStone Financial FCU, TruStone Home Mortgage, and the TruStone Financial Foundation came together and provided close to 1,000 toys, and were able to donate $1,750 to charity just in time for the holidays. The donations that were gathered from their branches were then given to Toys for Tots, as well as The Salvation Army of Cold Spring.

“TruStone Financial established the TruStone Foundation in 2009 to reinforce its commitment to financial education. With strong ties and a healthy respect for education at all levels, the Foundation funds scholarships and financial literacy programs in the classroom and beyond. We believe by supporting our future leaders, our local communities will become stronger.” TruStone Financial Foundation

Glendale Federal Credit Union

Lending a helping hand, Glendale FCU members and their staff took it upon themselves to donate needed items such as blankets, socks, towels, and stuffed animals for the children to the Glendale Police Officers’ Association and their “Cops for Kids” program.

“The “Cops for Kids” Program targets the needs of the community’s underprivileged, disabled, hospitalized and at-risk children, as well as those who are victims of accidents and/or crimes. Every year, members of the Glendale Police Department adopt families during the holidays, providing Christmas trees, gifts, and holiday meals. The Glendale Police Officers’ Association has distributed over 20,000 toys to children throughout the community as a result of the generosity from Glendale citizens and businesses.” Glendale Police Officers’ Association

Cobalt Credit Union

Helping out our nation’s heroes, Cobalt Credit Union teamed up with the SAC Foundation and collected basic household and food items for donation to the Veterans at Victory Apartment in Omaha and Victory Park Apartment in Lincoln.

“SAC Foundation is the charitable arm of Cobalt Credit Union and a registered 501(c)(3) nonprofit organization. We are a separate, independent entity operated by our own Board of Directors comprised of Cobalt Credit Union employees. We have a mission to be a steward of economic and social sustainability in the communities we serve. Our ongoing partnership with Cobalt Credit Union and its employees help further our mission.” Cobalt Credit Union

Cal State L.A. Federal Credit Union

With the year 2020 throwing so many unforeseen challenges families’ ways, Cal State L.A. FCU partnered with the Para Los Niño’s Organization and participated in their Adopt-a-Family program, which helps provide gifts for families in need. Cal State L.A. FCU was able to donate a list of items ranging from household items to toys on the children’s wish lists.

“In 1980, Para Los Niños was founded with the simple idea of creating a safe space for the children of Skid Row to “just be a kid.” Building on the importance of a healthy, stable home and idea of education as an equalizer, Para Los Niños has since become a leading organization serving thousands in Los Angeles.” Para Los Niños

Fond du Lac Credit Union

During the holiday season, Fond du Lac CU hosted a canned food drive for the Solutions Center where with the help of their members, staff, and the local community they were able to donate close to 500 needed items to families in need.

“Solutions Center offers a multitude of services to those dealing with domestic abuse and homelessness. Our staff is made up of caring and dedicated professionals, on hand 24 hours a day, 7 days a week, 365 days a year to work closely with those in crisis. Our professionals understand that every situation is different, and services are personalized to each individual that is in need of assistance.”

Honor Credit Union

The restaurant industry has been hit hard during this pandemic, and Honor Credit Union went to great lengths to support their local restaurants and small business in their community by providing much-needed relief.  The funds raised went directly to employees in the restaurant business.

Thank you for reading this Humanitarian Highlight! 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. How has your credit union helped fuel the light?

Help Bankers See the Credit Union Way

How Can You Help Bankers See the Credit Union Way?

Has your credit union recently experienced a merger? With the rise of credit unions becoming part of the community bank-buying trend, it is very possible that your credit union and its members may be experiencing this, or may in the future. To convert bank customers to credit union members it is important to ask “how can you help bankers see the credit union way?”

A handful of banks have sold their branches or whole operations to the credit union industry since United CU started the trend several years ago. Since 2012, there have been 63 more deals involving 51 credit unions in 24 states, according to data from Callahan & Associates. With those numbers, it is clear to see how it has become a steady trend in the industry. This is a common practice, and your main priority as a CU leader is to ensure that your members, as well as the customers of the bank you are acquiring, have a smooth transition.

Keys to a Successful Transition:

Communicating clearly

Ensuring you keep an open line of communication with your members—as well as the new members your credit union will be welcoming—is going to be your most important step in transitioning seamlessly at your CU. Explaining to members how their accounts will be handled, as well as providing information packets, will be helpful and can ease the new transition. The idea of holding a town hall meeting and employee information sessions are great tactics to implement.

Keeping existing staff, if possible

One of the bank’s main concerns will be the relationships their employees have built. A great way to help bank customers–turned–credit union members is to (if possible) keep current staff. Maintaining that constancy will be a great way to make sure the new members feel welcomed to their new “home.” Having that familiar face still there to greet them will make all the difference in the transition. Usually, smaller community banks have the same values as credit unions. They pride themselves on helping their members and being part of the surrounding community’s growth. Making sure your new members understand that you hold those same beliefs and ties within the community should put them at ease with whom they now bank. Also, allowing members access to a “transition team” through the entire merging process would be very beneficial for your credit union and those you serve.

Learning from the experience

As you can imagine, if your credit union is going through a merger or will be going through one in the near future, there is a lot to take away from the experience. Accepting feedback from your members and your customers-converted-to-members would be a great place to start. Asking them if there are any products and services that can be enhanced, or anything they would like to see done differently will give your CU staff a greater insight on changes that would accommodate a better banking experience. As long as your credit union continues to serve its members and community, you’re already on the right track toward success.

Here at Oak Tree, we have over 37 years of experience in the credit union industry. We have dedicated our time and resources to better impact the #CUindustry, and have the tools and knowledge to assist your credit union on the road to success.

Let's Begin

Humanitarian Highlight 1.7.21

Happy #HumanitarianHighlight everyone! How are you all doing? In today’s blog, we highlighted a few #creditunions who have exhibited outstanding work within their communities! Well done #CUfamily! Let’s begin this praise for some great credit unions!

Suffolk Federal Credit Union

Suffolk FCU has donated $2,500 to the Community Housing Innovation’s (CHI) Homeownership Counseling & Education Program!  “The White Plains, N.Y.-based CHI offers a counseling and education program for first-time homeowners, and down payment and closing cost assistance for income-eligible households on Long Island, N.Y., as well as for those in Westchester and the Hudson Valley.” CUTimes

First Capital Federal Credit Union

Making sure everyone in their community is well taken care of, First Capital FCU donated canned food items to help support the West York Area School District Bulldog Pantry! “The Bulldog Pantry supplies needed items to families and students in the school district on the first Thursday of each month. And, Life Skills class students work at the pantry to learn valuable lessons on the value of hard work and supporting those in need.” CUTimes

Gesa Credit Union

Continuing support for their community, Gesa CU’s Turkey Trot is a SIGNATURE Tri-Cities event held every year! Due to COVID-19, the event will be going virtual this year, but don’t let that shy you away from the fun-filled community tradition! Choosing to run either the mile or the 5k, runners can participate between Monday, November 23rd, and Sunday, November 29th. “We are extremely grateful to Gesa Credit Union for their continued support and commitment to still host this virtual event despite not being able to gather in person as a community,” said Michele Roth, Executive Director for our local American Red Cross chapter. “The Turkey Trot has been a long-standing Tri-Cities tradition and although it will look different this year, it is still a great way to celebrate the holiday and support the important work of the Red Cross in our local community.” The quote is taken from NBC 23

Neighbors Federal Credit Union

For the past 12 years, Neighbors FCU has partnered up with WBRZ as a sponsor for [sic] Coats for Kids’ They accepted donations at all 10 locations throughout the Greater Baton Rouge Area! “For 32 years Pat’s Coats for Kids has provided a warm jacket to children in our community. It takes only $20 to give a kid a new coat in the proper size. During the cold months of December through April, we know that there are kids in the Baton Rouge community that do not have coats, whose parents cannot afford coats, kids that start their day at a bus stop shivering, and kids who enter a school needing time to “warm-up” to start their classes.” WBRZ 2

CLICK HERE TO DONATE!

First New York Federal Credit Union

Due to COVID-19, this year has been very hard on us all. Now with students going back to school a few times a week while other days are spent at home learning, many don’t have the supplies they need to get through the school week. Knowing this, First New York FCU donated 450 backpacks filled with supplies (1,200 pocket folders, 900 spiral notebooks, and 700 highlighters), to the Schenectady City School District!

Common Trust Federal Credit Union

Supporting their community, Common Trust FCU has once again renewed its support for nonprofit health care as a Platinum Sponsor of the Step Out for Hospice Virtual Wellness Event. “We are grateful for Common Trust’s ongoing generosity as a key sponsor of our annual benefit. All the money raised through Step Out for Hospice will help our healthcare heroes provide care, support, and comfort to people of all ages with a life-limiting illness,” said Laura Wise, Manager of Fund Development.

GAC – We all know that GAC is March 2-4, 2021, who else is excited?!

“Let’s Begin” is a way of life for credit unions. We are always looking for ways to start deeds of greatness in this community.

Since COVID-19 had shaken up our year, it is imperative that we keep our heads up and stay positive during this tough time. We hope to see you all soon! If you have any questions, call us at (949) 548-7601.

P2P Payment Platforms & Your CU

Person-to-Person Payment Platforms & Your Credit Union

For those who grew up in the digital world, person-to-person or peer-to-peer (P2P) payment applications are nothing to write home about. Gen Z and Gen Alpha have always known the glories of paying a friend for coffee via their phone. For the older generations, however, P2P payments are an incredible advancement in financial technology. Let’s look at P2P Payment Platforms & your CU!

With so many choices for person-to-person payment platforms, one might wonder how we got here. Who created the first P2P payment platform? Why was it developed? How do we expect it to advance in the future? Most importantly, how will it impact the credit union industry?

History of the Direct Payment Apps

The first iteration of P2P started with Max Levchin and Peter Theil who founded the company Confinity, Inc. After merging with X.com, owned by Elon Musk, they launched the first public offering of PayPal as a money-transferring service in October 2000. To this day, PayPal is still a leader in digital wallet spaces all over the world.

PayPal paved the way for many future P2P platforms including Zelle, Venmo (owned by PayPal), CashApp, and Apple Pay. All of these companies expanded on the foundation of PayPal — providing secure money transfers from person to person, or person to the merchant.

Current Trends for P2P Payment Platforms

It is almost impossible to escape P2P payment platforms nowadays. Even if you don’t use one personally, it is almost guaranteed you know at least one person who does. In 2018, it was estimated Zelle had nearly 27.4 million U.S. users and Venmo had 22.9 million. The current trends show that P2P payments are not slowing down anytime soon.

What Does This Mean for Credit Unions?

Credit Union Times reported about Fiserv, “The Brookfield, Wis.-based payments and fintech firm announced this week that it connected more than 360 credit unions and other financial institutions to Zelle via Fiserv’s Turnkey Service in 2019, bringing the total to almost 600. In addition, the number of people using Zelle via Fiserv to send money jumped 116% in 2019, and the number of people using it to receive money rose 145%. Transactions were up 207% in 2019, it added.”

For P2P payments to be accessible for all consumers, it is important for financial institutions to pursue partnerships with P2P payment platforms. Credit unions are no exception. Many credit unions see the demand for P2P payment platforms by their members and are establishing partnerships with fintech companies just like Fiserv to provide that service.

Maybe now is the time for your credit union to pursue a partnership that will benefit your members with P2P payment options. Do you have any input on P2P Payment Platforms & Your CU? Hit us up here or on our social media!

When it comes to Credit Union Consumer Lending Documents and Data Linking Services, Oak Tree is here for you. Oak Tree is the perfect partner for credit unions. We supply compliant forms and documents for membership, consumer lending, and home equity lending. Contact us today to learn how we can help streamline your credit union lending.

Don’t Get Left Behind in 2021

Have you and your #CUteam reflected back on the year 2020? If so, are you pleased with your marketing efforts and ROI? Or, is there room for improvement? If you’re like us, you know there is always room for improvement! When it comes to marketing, there is also room for innovation and creativity as to how you will get your credit union’s message and services out to your current and potential members. Don’t get left behind in 2021!

Innovation is what marketing thrives on and within the credit union industry, you and your team have ample resources to ensure that your strategy for the remainder of the year, will be successful. Oak Tree is here to guide you and your CU on how to be innovative and remain ahead of the game. When it comes to the financial industry, it is hard to be “unique.” With your competitors offering relatively similar products and services, standing out can be challenging. The following tips and suggestions can help your CU marketing team gain some leverage in an attempt to stand out from the rest.

Going mobile with your financial product marketing initiatives

You may have noticed, with the year we had in 2020, digital marketing is where the future of marketing will continue to go, and where your CU should focus its efforts. Going mobile with your CUs products and services while offering your members a seamless digital experience is where your CU can stand out. Doing business on the go is what your users are accustomed to, in fact, new research has found that we’re spending five hours a day on mobile devices, and 90 percent of our mobile time is spent using native apps. This means any marketing plans for your CU must include a heavy focus on mobile marketing, by ensuring there is a CTA (call to action), making sure any sign-up forms are short and easy to complete, and you have a solid and easy-to-read design layout. Your mobile marketing is about acquiring engagement and getting your brand out there. Making a sale is just the cherry on top.

Creating educational content

Creating educational content that revolves around your products and services will be very beneficial for your current and potential members. Making the content clear and easy to understand, for someone who may not have prior knowledge about finances should be your CU’s first step. According to a recent study, 45% of Millennials want financial products and services that help them with their budgets. Furnishing something that could assist users with budget-related issues that lead to solutions would set your CU apart from others, as well. Setting up a chatbot on your site that is available 24/7 to your users will also put you ahead of the curve while taking care of your members at the same time. People want instant answers and useful information, and you can give it to them!

Humanize your credit union through social media

As mentioned, social media and digital marketing are where your CUs efforts should lie. Credit unions are built on the relationships they have with their members and their ties within the communities they serve. Showcasing all the good your credit union does on your social media channels is a great marketing tool. Social media can provide a perfect medium to show the community that your CU is trustworthy, and it is a great way to humanize your credit union’s brand. Allowing your credit union to open up on social media also gives you an advantage if any negative feedback comes in, you can be sure to be on top of it. Connecting with the community bolsters your brand and tells your credit union’s story that could otherwise be left untold!

Don’t get left behind in 2021, Oak Tree can help your credit union lock down your 2021 marketing strategy, and we have all the best tools to help you analyze, plan, and optimize while bringing that strategy to life. Contact us for a free consultation!