Leadership Within the CU Community

Humanitarian Highlight 4.8.21

For this week’s Humanitarian Highlight, we want to look at leadership within the CU Community. 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!!

Alaska USA Federal Credit Union

Alaska USA Federal Credit Union has had a longtime commitment to helping their community. One of those commitments has been helping the United Way of Anchorage. United Way of Anchorage needed to find a new space to call home and so reached out to the community for assistance. Alaska USA stepped up and offered a new space for them to call theirs. Along with the office space, Alaska USA FCU also presented the organization with a $42,000 donation.

Members Choice Financial Credit Union

Due to COVID, many fundraisers and events had to be canceled, including Members Choice Charity Golf Tournament. Their team still banned together and came up with a plan to donate to two local charities. They were the American Legion Post #40 Veterans Emergency Relief, and ThinkBIG. Members Choice held a BBQ, basket raffles, and its first-ever food truck. They were able to collect and donate a total of $7,000 to their chosen charities.

PSE Credit Union

PSE Credit Union announced that they will be sponsoring the EVERFI Financial Literacy Bee, taking place the first two weeks of April. The EVERFI Financial Literacy Bee is a nationwide financial literacy challenge for high school students. The literacy Bee provides an opportunity for students to learn the critical importance of saving and budgeting for short-term and long-term goals.

State Employees’ Credit Union 

SECU Foundation is working with the North Carolina Alliance for School Leadership Development (NCASLD) and the North Carolina Principals and Assistant Principals’ Association (NCPAPA) to help increase leadership among school principals through a new initiative called the Distinguished Practitioners Network (DPN). Virtually, DPN will provide leadership development sessions to principals in high-needs schools addressing concerns highlighted by COVID-19. The $80,000 grant from SECU will help fund this new initiative.

Trumark Financial Credit Union

Early this year Trumark Financial created a Concern for Community initiative to support the local organizations during the pandemic. Every month the credit union chooses an organization to receive the resources needed. This month, the credit union donated baskets of cleaning supplies to five local organizations that offer support services for individuals transiting in different periods of their lives.

Advantage Credit Union

Advantage credit union donated $924 to the Newton Athletic Booster Club. The credit union donated $1 for every point scored during a Newton boys and girls varsity basketball home game.

Oak Tree Business Systems, Inc.

We also wanted to bring up how we are participating in this year’s Credit Union SACTOWN Virtual 5k. The event starts April 10th and ends on the 20th, if you have not signed up now you have until the 19th as a last chance entry date. They are allowing participants to do more than just running, so that’s great for those of us who tend to avoid running. Be sure to check out the Sacramento Running Association and remember that 100% of the funds go to benefit the Children Miracle Network Hospitals in California and Nevada. Thank you to the California Credit Union League and the Nevada Credit Union League for all you do as well!

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.

On a final note, we have started a new feature, the Credit Union Roundup, and we hope you return tomorrow to see what is going on in the Credit Union community.

The Season of Giving

Humanitarian Highlight 11.12.20

Happy Humanitarian Highlight Day everyone! We’re only one day away from Friday, so hang in there! We hope you all enjoy your weekend, and most of all we hope you enjoy reading all the amazing deeds our #CUfamily has been up to lately! If you know of a credit union that has positively impacted their community, tag us and let us know so we can give them a shoutout! It is truly the season of giving in the credit union community.

Mid Oregon Credit Union

Mid Oregon Credit Union was recognized by the Credit Union National Association and honored with the Alphonse Desjardins Youth and Adult Financial Education Award. They received the award for their Bite of Reality program, which teaches high school students about budgeting and money management. Awesome job, Mid Oregon CU!

Sunova Credit Union

This past October, Sunova members, and staff raised a grand total of $3,970 for the Made with Love program, which provides meals for those in need. The total equaled 397 meals for people throughout Winnipeg!

City & County Credit Union

This past month, City & County Credit Union was on a “People Helping People” mission and was able to make donations and volunteer for various programs. They made 440 snack packs for We Can Ride, Inc., 330 senior care bags for Help At Your Door, 26 tie blankets for the Ronald McDonald House, and beautified 2 local parks! Wow, what an achievement! Meridian Credit Union

Meridian Credit Union pledged to triple any donations made to one of two great organizations, including Food4Kids and helping those in need during COVID-19! This was part of their Donation Match Program!

In support of the Doernbecher Children’s Hospital, Fibre Federal Credit Union pledged to match any donations made as part of their Credit Unions for Kids mission! To learn more about our Credit Unions for Kids mission, visit https://www.fibrecu.com/…/news…/cu4kids-doernbecher-days.

United Federal Credit Union

As a commitment to both their members and communities, United Federal Credit Union stopped by the Women & Children’s Center of the Sierra with a donation check of $1,000! United FCU was extremely excited to support this organization that helps women rise out of poverty.

Hometown Credit Union

Hometown Credit Union held a “Miracle Jeans Week” for the Children’s Miracle Network Hospitals and was able to raise over $700 with the help of their community!

Thank you for reading this Humanitarian Highlight! 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.

Budgeting's Not a Chips and Salsa Party

In a commentary article posted on Credit Union Management, our CEO, Richard Gallagher discusses how budgeting’s not a chips and salsa party. At times can be mundane, but it is necessary for your credit union.

The Lifeblood

Budget allocation for credit unions should ultimately be about growth and stability, but always with respect to net revenue. Viewing that as the heartbeat keeps allocation honest. Without strong net revenue, there will be no asset growth. This will affect things like operating expenses and credit losses. Your credit union will have to either lighten the load or encourage asset growth to keep net revenue healthy. Of course, the latter is preferred. 

One of the greatest assets of mobile banking is 24/7 access. Members can check loan balances at any time, just as There are a few things you can do right now to see whether your budget is in line with current net revenue. First, go over each line item and compare it to past years’ budgets. Are there any blatant discrepancies? If so, look into them and find the cause. Chances are you will find one of two things: Either the expenditure in question cost more than anticipated or it did not produce as expected. Any item that is a cost drain or does not address productivity will have a negative impact on net revenue.

Once you find those items, take time to go through them and determine the underlying issues. Correcting them mid-year during allocation planning will keep net revenue strong and healthy. 

Richard Gallagher

To read more about how your credit union can successfully allocate your budget go check out the CU Management article and then check out our lending documents for your credit union.

_{(note: this is an older blog entry and has been edited since originally posted.)}