Contact:
Christopher Morris
608-231-4374 | cmorris@ncuf.coop  

NCUF Grantee Helping MI CUs with Financial Counseling
Michigan CU League Finds Success with Enhanced FiCEP

Madison, Wis. – Knowing the consumer need for trustworthy financial guidance while tight credit union budgets often restrict the number of staff able to attend a live training school, the Michigan Credit Union League (MCUL) offered a unique guided self-study financial counseling training program last year that resulted in 72 new Certified Credit Union Financial Counselors from 33 Michigan credit unions. Since then, MCUL has reached an estimated 170 credit union staff and more than1,850 consumers.

Combining the lower cost and convenience of the Credit Union National Association’s self-study Credit Union Financial Counseling Certification Program (FiCEP) enhanced with webinars and local in-person training and networking, the training enables credit union staff to become more confident in helping members build stronger financial futures. Read more about the enhanced FiCEP program here.

With the help of a grant from the National Credit Union Foundation’s REAL Solutions program, MCUL extended their FiCEP efforts in 2011, with an additional 101 credit union staff from 26 credit unions enrolled. The guided self-study portion provides bi-weekly interactive webinars on each of the eight FiCEP modules and two live training and testing sessions over a six-month period resulting in participants earning their designation of Certified Credit Union Financial Counselor. A major component of the enhanced training is working with counselors to develop a strategic plan to be implemented at their credit unions to obtain maximum impact for the credit union and the community.

“Using this information, I have been able to guide members through difficult decisions,” said Andrea Hacker, Northville Branch Manager at Community Financial Members Credit Union in Plymouth, Mich. “Before, I could tell members what they should be doing, but now I can work with them. It leaves both of us feeling empowered.”

Impact and Outreach to Help Michigan’s Economy
MCUL’s goal is to increase the number of credit unions providing financial counseling to assist Michigan residents to successfully manage their money and avoid problems such as bankruptcy, foreclosure and loan defaults. With an estimated 170 Certified Credit Union Counselors throughout the state, Michigan’s credit unions are attracting the interest of statewide partners such as Habitat for Humanity and United Way’s 2-1-1 system as a source of trustworthy financial guidance for the families they serve.

With just 24 credit unions reporting in the first half of 2011, counselors logged in close to 1,200 hours of counseling activity, helping more than 1,850 consumers. To extrapolate those results to the full group of 170 credit union financial counselors in 56 credit unions, it would translate into an annual reach of over 8,800 consumers. Second Quarter NCUA Call Report data has illustrated the program’s impact in that Michigan credit unions are experiencing fewer delinquencies and charge offs and a reduction in the rate of bankruptcy among members.

“Members are always thanking us because we helped them and no one else would,” said Lisa Blevins, a FiCEP participant from Education Plus Credit Union in Monroe, Mich. “Our charge offs and DQs are way below our peers and we take pride in keeping it this way because that tells us we are helping more members than charging them off as a loss.”

Next Steps
Michigan will continue to increase the number of certified credit union financial counselors in the state with a 2012 guided self-study financial counseling certification training program in partnership with NCUF’s REAL Solutions program. Current counselors will share and improve their skills with ongoing networking and training sessions and a networking listserv will continue information-sharing among Michigan’s financial counselors and educators.

Experienced financial counselors working in MCUL’s Financial Education Council are also compiling a best practices document to share successes in counseling and program implementation.

* A high-resolution version of the image above is available here: http://resource.cuna.org/dl/f1028B5ay61.JPG

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About REAL Solutions®
REAL Solutions® is the signature program of the National Credit Union Foundation. REAL ? “Relevant, Effective, Asset-building, Loyalty-producing” — Solutions works to help credit unions offer a wide range of products and services that have proven successful in serving working families with low wealth and modest means. Using product/business models created and tested by credit unions, REAL Solutions disseminates information to credit unions through special meetings, an online impact center at www.realsolutions.coop, and state and national conferences. As NCUF’s signature program over the past four years, REAL Solutions has been adopted in 40 states and is saving members tens of millions of dollars. It has now become a documented business strategy for credit unions to grow their memberships by serving the underserved. Real people with real needs are finding REAL Solutions at credit unions.

About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

NCUF is funded primarily by investments in the award-winning Community Investment Fund (CIF) and by generous Corporate Supporters led by the Credit Union National Association and CUNA Mutual. All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization. NCUF continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.

Contact:
Christopher Morris
608-231-4374 | cmorris@ncuf.coop  

NCUF Releases Non-Prime Auto Loan Toolkit
Free toolkit can help CUs put more non-prime borrowers into automobiles

Madison, Wis. – Credit unions trying to boost their auto loan portfolios now have an added aid, a Non-Prime Auto Loan Toolkit, recently released from the National Credit Union Foundation’s REAL Solutions program.

Many households are struggling financially and a dependable automobile can be the key to having a job or having a better paying job. Many of these households may look at the corner buy-here-pay-here auto lot as their only option and find themselves caught in a costly loan and an unreliable car.

“There is tremendous opportunity for credit unions to reach out to this market that has been mis-served by predatory and non-traditional lenders,” writes Nancy Pierce in the toolkit’s introduction. “The estimated size of the non-prime auto market ranges from $100 billion to $200 billion. Yet, as credit unions put more non-prime borrowers into automobiles, they need to do so prudently and with clear understanding of the increased risks they are undertaking.”

According to the Annie E. Casey Foundation, 88% of American workers drive to work and two-thirds of jobs are located in suburbs. Relying on public transportation, if available, can double commute time. In fact, the Annie E. Casey Foundation reports that not having a car is the single biggest barrier to escaping poverty.

The new toolkit is designed to help guide credit unions through some of these dangers. It also suggests Enterprise Car Sales as one option for a quality car at a good value. The toolkit provides underwriting guidelines, techniques to mitigate risks, pricing guides, credit union examples, and a loan portfolio management guide.

“Prudent pricing for non-prime auto loans can boost a credit union’s bottom line,” notes Pierce. “It also simultaneously fulfills a social and economic need by provide consumers with the economic mobility that comes with the mobility of affordable, reliable wheels.”

The toolkit is available to credit unions free of charge at realsolutions.coop.

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About REAL Solutions®
REAL Solutions® is the signature program of the National Credit Union Foundation. REAL ? “Relevant, Effective, Asset-building, Loyalty-producing” — Solutions works to help credit unions offer a wide range of products and services that have proven successful in serving working families with low wealth and modest means. Using product/business models created and tested by credit unions, REAL Solutions disseminates information to credit unions through special meetings, an online impact center at www.realsolutions.coop, and state and national conferences. As NCUF’s signature program over the past four years, REAL Solutions has been adopted in 40 states and is saving members tens of millions of dollars. It has now become a documented business strategy for credit unions to grow their memberships by serving the underserved. Real people with real needs are finding REAL Solutions at credit unions.

About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

NCUF is funded primarily by investments in the award-winning Community Investment Fund (CIF) and by generous Corporate Supporters led by the Credit Union National Association and CUNA Mutual. All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization. NCUF continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.

Contact:
Christopher Morris
608-231-4374 | cmorris@ncuf.coop  

National CU Foundation Approves 19 Financial Education Grants for 2012
 

According to a Financial Literacy Survey of adults last year from the National Foundation for Credit Counseling, Inc., 34% of respondents, or nearly 77 million people, gave themselves a grade of C, D or F in personal finance skills. 78% agree that they would benefit from advice and answers to everyday financial questions from a professional, and nearly one-third (31%) strongly agree.

“The need for financial education is still critical in America,” said Tom Candell, National Credit Union Foundation (NCUF) Deputy Executive Director, COO/CFO. “This is the 2nd year in a row that NCUF is focusing exclusively on financial education in our grants which will ultimately help more people achieve financial freedom.”

The grant projects range from youth financial education to a variety of different types of financial counseling and coaching. Some highlights:

• Carter Federal Credit Union in Springhill, La. will combine education with entertainment for an innovative approach to financial education. They will develop a member volunteer training program, partner with a local studio to film a series of financial literacy video trailers to be shown before movie features in a local theatre and provide interactive workshops around Biz Kid$ and Spendster.
• First Financial Credit Union in Gallup, N.M. will design a reality fair (an interactive financial literacy tool) that is designed for use in Native American communities and to offer the reality fair to high school students on native lands.
• Self-Help Federal Credit Union in Oakland, Calif. will refine and deliver "in-line financial education" at Self-Help Federal's Micro Branch (a unique check casher and credit union hybrid). In-line financial education is an innovative model designed to nudge underbanked customers using bite sized pieces at the teller line towards credit union membership and financial products that will ultimately lead to asset development.
• Southern Chautauqua FCU in Lakewood, NY will enhance a project called “Kids’ Credit Union" designed to provide a financial education curriculum and track student progress from 2nd grade all the way through high school.

NCUF Grants are made possible by supporters of the Foundation and the Community Investment Fund (CIF), an award-winning system of investments that help credit unions earn dividends while donating to national and state community development programs. NCUF grantees are frequently highlighted in NCUF “Grant at Work” series, showcasing how the grantees are making a positive impact in their community and empowering consumers to achieve financial independence through credit unions. Read More.

About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

NCUF is funded primarily by investments in the award-winning Community Investment Fund (CIF) and by generous Supporters led by the Credit Union National Association and CUNA Mutual Group. All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization. NCUF continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.

The Census Bureau's annual report on income, poverty and health insurance coverage said the national poverty rate climbed for a third consecutive year to 15.1 percent in 2010 as the economy struggled to recover from the recession that began in December 2007 and ended in June 2009.

That marked a 0.8 percentage point increase from 2009 when there were 43.6 million Americans living in poverty.

The number of poor Americans in 2010, a different measure than the poverty rate, was the largest in the 52 years that the Census Bureau has been publishing poverty estimates. The poverty rate was the highest since 1993.

Americans saw their median annual income decline 2.3 percent to an annual $49,445. About 1.5 million fewer Americans were covered by employer-sponsored health insurance plans, and the number of people covered by government health insurance increased by nearly 2 million. Read More.
 

Contact:
Christopher Morris
608-231-4374 | cmorris@ncuf.coop

CUAid Activated for Credit Unions Affected by Hurricane Irene
National CU Foundation Appeals for Donations from Credit Union Supporters across America

Madison, Wis. – The National Credit Union Foundation (NCUF) has activated the online disaster relief system CUAid.coop to raise money for credit union people along the East Coast affected by Hurricane Irene.

"New Jersey has been crippled by Hurricane Irene,” said Paul Gentile, President/CEO of the New Jersey Credit Union League in Hightstown, N.J. "Rivers in New Jersey have crested and washed out highly populated towns. Thousands of people are displaced and struggling just to get their bare necessities. I am thrilled CUAid is being activated. Joining together cooperatively to help those in need is the heart and soul of the credit union movement.”

Credit union supporters in every state can now make donations through a secured website that accepts credit cards and wire transfers (www.cuaid.coop). CUAid is the only program of its kind that enables credit union employees, volunteers, and members, as well as credit unions and credit union organizations across the U.S., to contribute directly to support other credit union people.

“We encourage credit union leaders all across the country to use CUAid.coop as a channel to collect donations from their employees, volunteers, and members,” said NCUF Executive Director Bucky Sebastian. “Everyone who supports CUAid is helping affected credit union people directly with critical needs, longer-term recovery needs, operational needs, and assisting credit union members.”

Click here to make a donation.

As donations are posted through CUAid.coop, NCUF will coordinate with the credit union leagues in the disaster area to distribute money efficiently to affected credit union employees and members.

CUAid was developed by NCUF in cooperation with state credit union foundations, state credit union leagues, and the Credit Union National Association’s Disaster Preparedness Committee in 2006. In 2011, NCUF has raised over $250,000 in disaster relief donations that were disbursed as grants to credit union employees and members who suffered losses from tornadoes in Alabama and Missouri, as well as from flooding in North Dakota.

“We are fortunate that we have an established program like CUAid through the National CU Foundation,” added Gentile. “I urge all credit unions to support this fund so we can continue to help in this and future events."

Organizations and individuals can use a variety of CUAid web buttons for their website. Please click here for the easily linkable buttons. Click here for a direct link to the donation form.

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About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

NCUF is funded primarily by investments in the award-winning Community Investment Fund (CIF) and by generous Supporters led by the Credit Union National Association and CUNA Mutual. All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization. NCUF continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.

A 5-week course designed to help non-profit groups assist members with their financial management concerns. First and last sessions are face to face and 3 sessions in between are online.

Course Content
Introduction to Financial Coaching and Financial Management ♦ Communication about Money ♦ Tracking your Spending ♦ Understanding Credit ♦ Community Resources ♦ Role Plays

Kick-off and Wrap- up Face to Face Session Dates and Locations:

• September 13/October 18: Urbandale: Urbandale Outreach Center, 6:30-9 p.m.
• September 15/October 20: Council Bluffs: Iowa School For Deaf Campus, 1:30-4 p.m.
• September 15/October 20: Council Bluffs: Iowa School For Deaf Campus, 6:30-9 p.m.
• September 19/October 17: Creston: Union County Extension Office, 6:30-9 p.m.
• September 20/October 18: West Union: West Union Public Library, 1-3:30 p.m.
• September 21/October 26: Bettendorf: Scott County Extension Office, 9:30-noon
• September 21/October 19: Spencer: Iowa State University Extension Office, 9-11:30 a.m.
• September 25/October 25: Waterloo: Black Hawk County Extension Office, 9:30-noon

On-line learning dates including exercises, instructor interaction, weekly chat rooms, and e-mail:

• Week of September 26: Communicating about Money
• Week of October 3: Tracking Your Spending
• Week of October 10: Understanding Credit

Cost: $60. Includes course textbook, resources and all course sessions. Pre-registration required. The fees for service will be used to off-set direct expenses and to support the County Extension Families Program.

Questions? For more information, contact the County Extension Office nearest you or Erin Ludwig, Family Finance Specialist, at 563-380-1475 or eludwig@iastate.edu.

Contacts:
Mark Wolff – CUNA Communications; (202) 508-6764; mwolff@cuna.coop
Amy Nigrelli – CUNA Marketing; (608) 231-4246; anigrelli@cuna.coop

Deadline Extended for CO-OP Financial Services Scholarships to CUNA’s Community Credit Union & Growth Conference

MADISON, Wis. (August 24, 2011) – The deadline to apply for a 2011 Community Credit Union & Growth Conference scholarship has been extended to September 9, 2011. Up to 30 scholarships to the event will be co-sponsored by Credit Union National Association (CUNA) and CO-OP Financial Services.

To be held October 24-27, in San Francisco, the conference will focus on how to turn growth-generating ideas into action plans. To access the conference website, including the simplified scholarship form and scholarship criteria, please visit training.cuna.org/ccuc. To apply for a scholarship, please click here.

Applications are due Friday, September 9, 2011. Recipients will be contacted by Thursday, September 15, 2011.

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About CUNA – Your Trusted Resource for Credit Union Success
With its network of affiliated state credit union leagues, Credit Union National Association (CUNA) serves 90 percent of America's 7,700 credit unions, which are owned by more than 90 million consumer members. Credit unions are not-for-profit cooperatives providing affordable financial services to people from all walks of life. For more information, visit www.cuna.org.

About CO-OP Financial Services
Based in Rancho Cucamonga, Calif., CO-OP Financial Services is the industry leader in access and convenience products for credit unions. Nearing 30 years of credit union service, CO-OP connects credit union members to their accounts through network, payment processing, e-commerce, shared branching and call center services. With more than 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,200 shared branch locations and more than two billion annual transactions, CO-OP Financial Services is the nation’s largest credit union service organization, offering the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org. Follow CO-OP on Twitter at: http://twitter.com/COOPFS and keep up with industry issues via the CO-OP Insight Vault blog at: http://co-opinsightvault.com.

Contact:
Christopher Morris
608-231-4374 | cmorris@ncuf.coop  

NCUF Grantee Helps Families Save Money & Reduce Debt with Savings Challenge

A Foundation Grant at Work

Albuquerque, N.M. - - Several New Mexico families who belong to their local credit unions now have better awareness and knowledge of good financial habits after participating in the 11-month “Savings Challenge New Mexico” and one lucky family is now $10,000 richer. The Challenge goals were basic stepping stones that provided each family with the skills to achieve better financial well-being. The three goals were: reduce debt, build savings and improve their credit score.

The Savings Challenge was made possible by a grant from the National Credit Union Foundation (NCUF) to the Credit Union Association of New Mexico, which provided management, educational resources and financial support to the five New Mexico credit unions that participated.

Shawn and Tina-Marie Schiller, members of High Plains Federal Credit Union (HPFCU) in Clovis, were the top winners, walking away with $10,000 after meeting the three Challenge goals. The couple was coached by High Plains Federal Credit Union coach Tammy Lewis.

Going into the Challenge, Tina-Marie owned up to a lot of unnecessary shopping with department store credit cards. Shawn said it was important to the couple to have good financial habits and save money to give their sons as good a life as their parents had given them.

“We understand the importance of a good credit history and score and we’re current on all our bills and obligations but are living paycheck to paycheck getting nowhere,” said Shawn and Tina-Marie Schiller upon entering the challenge. “We need to learn some financial skills and learn to live within our means. Our goal is to be debt-free, except for the mortgage, of course, and set some money aside for our sons’ college and medical insurance for our family.”

The couple was able to reduce their debt approximately 10 percent, significantly build their savings and improve their credit score more than 5 percent.

Shawn and Tina-Marie Schiller made a number of changes and adjustments in their lifestyle during the Challenge and plan to continue those changes in the future. The prize money will go into a savings account for their sons’ college.

The savers worked with coaches from the credit unions, who were supported in their role by Savings Challenge New Mexico consultant Kathy Darwin. They focused on educating individuals in money management, budgeting and personal finances.

A total of $22,750 was awarded to the Savings Challenge participants. Aside from the Schiller family, other winners in the Challenge were:

• David Pratesi, a disabled veteran and his wife, Denice, a home health care provider. With help from Silver City Chino Federal Credit Union coach Bill Stites, the couple reduced their debt a whopping 64.73% and won $2,500.
• Another $2,500 winner was Guadalupe Credit Union’s Athena Beshur in Santa Fe, coached by Diane Sandoval. The owner of a local landscape company, she completely got rid of her debt, built her savings more than 600%, and improved her credit score.
• Reyes and Isabel Gonzales, members of Everyone’s Federal Credit Union in Tucumcari, were coached by CEO Andi Baum and won $2,500. The couple reduced their debt almost by half, increased their credit score and multiplied their savings by more than 900%.
• $2,500 winner Sharla Frazier is an Albuquerque police dispatcher and the single mother of three girls. Coached by Rio Grande Credit Union staffer Stephanie Szpunar, her debt remained level but she was able to build her savings and raise her credit score.
• Brandi Jo Thomas was another winner from High Plains Federal Credit Union in Clovis. She was coached by Kathy Allenberg. Brandi was able to slightly reduce her debt, increased her savings by almost 500% and improved her credit score. She received $2,500.
• Deeanza Duran of Guadalupe Credit Union of Santa Fe was coached by Annette Hernandez. This single mother of a daughter was not able to meet the Challenge goals but received a new awareness of the importance of healthy financial habits and $250 for finishing the Challenge.

“The statewide Savings Challenge was an overwhelming success and reinforced the credit union philosophy of ‘people helping people,’” said Credit Union Association of New Mexico President/CEO Sylvia Lyon. “We are extremely proud of the participants and the credit union staff who gave so unselfishly of their time and talent. Financial education is so important today and there are no socioeconomic boundaries. These winners will be able to take the skills they learned and apply them in their lives and the lives of their children to prepare them for their financial future.”

A Foundation Grant at Work
NCUF grants are made possible by supporters of the Foundation and the Community Investment Fund (CIF), an award-winning system of investments that help credit unions earn dividends while donating to national and state community development programs.

This “Grant at Work” is part of a series highlighting NCUF grantees making a positive impact in their community and empowering consumers to achieve financial independence through credit unions.

*Note to editors: a high resolution version of the picture in this release can be downloaded here: http://resource.cuna.org/dl/f0810LY9Vg4.jpg.  

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About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

NCUF is funded primarily by investments in the award-winning Community Investment Fund (CIF) and by generous Supporters led by the Credit Union National Association and CUNA Mutual. All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization. NCUF continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.

Contact:
Christopher Morris
608-231-4374 | cmorris@ncuf.coop  

New YouTube Video Gives Community Investment Fund Overview
Short NCUF Clip Details How CIF Works & How to Invest

Madison, Wis. – The National Credit Union Foundation (NCUF) recently posted a four-minute video on YouTube that gives viewers an overview of NCUF’s primary funding mechanism, the Community Investment Fund (CIF).

The informal video features NCUF’s Resource Development & Donor Relations Director Josie Collins talking about how CIF is an innovative way for credit unions to participate in and support the programs and services that NCUF and the state credit union foundations (SCUFs) provide. The video includes information on how the funds are distributed and how credit union organizations can invest.

“CIF is a unique, social investment opportunity,” notes Collins in the video. “Like many credit unions, you are probably wondering how you can do well and do good in the most painless way possible. Well, investing in CIF is an easy way to make a big difference.”

Click here to watch the video or visit http://youtu.be/64DVCRkeFuY.

How Does CIF Work?
Celebrating its 12th year, the Community Investment Fund gives credit unions the ability to leverage their investments to support innovative credit union programs. Credit unions invest in a Community Investment Fund account (through National Cooperative Bank, MEMBERS Trust Company, or a designated corporate credit union). What happens then? Each quarter, a portion of the CIF dividends are returned to investing credit unions. The other portion of the CIF dividend is donated to NCUF. NCUF grants half of its NCUF dividend to each investing credit union’s state foundation or league. NCUF uses the remaining portion of the CIF dividend to support its national programs including:

1. REAL Solutions®
2. Credit Union Development Education
3. Biz Kid$
4. Financial Education Grants
5. CUAid - Disaster Relief

For this unique way of distributing charitable donations, CIF earned the Association of Fundraising Professionals’ Award for Excellence in Fundraising in 2005.

To learn more about CIF, credit unions can contact their state credit union foundation, league or Collins at jcollins@ncuf.coop or at 800-356-9655, ext. 4397.

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About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

NCUF is funded primarily by investments in the award-winning Community Investment Fund (CIF) and by generous Supporters led by the Credit Union National Association and CUNA Mutual. All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization. NCUF continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.

Contact: Christopher Morris
608-231-4374 | cmorris@ncuf.coop

NWCUA’s Danielle Brown Accepts National Role in Taking Biz Kid$ to Next Level

Brown will work with NCUF to facilitate Biz Kid$ fundraising & help get the program’s curriculum into more classrooms across America

Madison, Wis. – After a 15-year career helping to lead regional credit union trade associations, Danielle Brown is stepping up to contract with the National Credit Union Foundation (NCUF). The Northwest Credit Union Association’s Vice President and Executive Director of the Oregon Foundation will begin her engagement on September 1st.

Brown has contracted with NCUF to act as the national coordinator of Biz Kid$, the Emmy Award winning and credit union funded public television series that teaches kids about money management and entrepreneurship. She will be promoting Biz Kid$ within the credit union movement to establish it as the premier financial literacy delivery mechanism for middle school students. She will be responsible for the planning, growth, and enhancement of the fundraising efforts, the implementation and use by credit unions in their local classrooms, and the monitoring and evaluation of the program.

“I’m excited about the opportunity,” reflected Brown. “Biz Kid$ speaks to its audience in such an effective way, in a way a typical school workbook can’t. The beauty of it is that it is so well produced.”

The Washington Credit Union Foundation this June transitioned the Biz Kid$ project administration on behalf of credit unions to the National Credit Union Foundation so that the program could achieve even greater national reach and prominence. NCUF’s resources will provide additional marketing and promotional focus.

Biz Kid$ is broadcast on nearly all Public Broadcast Stations and has produced four complete television seasons. Filming and production of Season 5 episodes began at the North Seattle-based production studio on July 26th. Fundraising is now underway for the new season which, upon completion, would position the show for national daily syndication, Brown said. If enough episodes for syndication are produced, it will likely ensure that the curriculum will be picked up in more classrooms across America.

“Biz Kid$ has such a rich tradition,” remarked RoxAnne Kruger, Senior Vice President at the NWCUA. “That will grow and continue, and with Danielle’s leadership working with state Foundations and trade associations across the country, the groundwork laid here in the northwest can only blossom more.”

Brown expects Biz Kid$ to continue a primary focus on the credit union culture, particularly since credit unions are the sole underwriter of the program.

Her professional experience touches nearly every aspect of credit union management. Prior to the merger of the Credit Union Association of Oregon with the Washington Credit Union League, Brown performed in the role of a consultant, a compliance officer, Director of Education, and Chief Financial Officer for Credit Union Association of Oregon. She assisted with the merger transition in her role as an NWCUA Vice President, while holding the reigns as Executive Director of the Oregon Credit Union Foundation.

“Danielle is perfectly suited to this new role,” said Bucky Sebastian, NCUF Executive Director. “All of us at NCUF are excited to work with her to further leverage Biz Kid$ and raise awareness of financial literacy and entrepreneurship across the country.”

“There is a lot of opportunity to get Biz Kid$ into local schools and communities,” Brown added, and “I am happy to be part of making it happen.”

For more information about Biz Kid$, click here.

*Note to editors: a high resolution version of the picture in this release can be downloaded here:
http://resource.cuna.org/dl/f0811OPoDe8.JPG  

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About the Northwest Credit Union Association (nwcua.org):
The Northwest Credit Union Association is the not-for-profit trade association serving Oregon and Washington’s 200 credit unions and their 4.2 million members. The NWCUA is the voice of the Northwest credit union movement, providing legislative, regulatory and public advocacy in addition to education, compliance, networking support and business solutions to its members. For information on how to join a credit union, please visit www.asmarterchoice.org.

About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

NCUF is funded primarily by investments in the award-winning Community Investment Fund (CIF) and by generous Supporters led by the Credit Union National Association and CUNA Mutual. All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization. NCUF continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.

• Credit union employees donate five dollars to the local Children’s Miracle Network Hospital and, in exchange, they are permitted to wear jeans to work on Wednesday, September 14.
• Credit union members donate a dollar to display their name on a special Miracle Jeans Day paper icon in their credit union's branch.
• Credit unions can order icons for no charge from www.MiracleJeansDay.com. Support materials to help credit unions engage members and employees are available on www.CU4Kids.org.

Questions? Contact Felicity Guerin, Credit Unions for Kids Liaison at 800.356.9655 x6728.

Contact: Christopher Morris
608-231-4374 | cmorris@ncuf.coop  

NCUF 2010-2011 Annual Report Focused on Financial Education
Newly Released Report from Foundation Highlights Programs, Grants & Supporters

Madison, Wis. – The National Credit Union Foundation (NCUF) recently released their 2010-2011 Annual Report entitled “Building Consumer Financial Capability through Financial Education.”

The report highlights NCUF activities from late 2010 to early 2011. In late 2010, the Foundation announced a new focus on financial education, which is the theme of the annual report.

“In the following pages, you’ll see how NCUF programs and grants are working to build consumer financial capability through financial education,” writes Bucky Sebastian, NCUF Executive Director, in the report’s introduction. “You’ll also see how our programs change lives through the ‘people helping people’ philosophy that drives the credit union movement.”

Click here to view/download the report or visit ncuf.coop>News & Publications.

The report also includes:

• Description of REAL Solutions’ financial education initiatives;
• Financial education grant highlights;
• Credit Union Development Education (DE) Program updates;
• CUAid – disaster relief updates;
• Community Investment Fund (CIF) overview and investor listing;
• 2011 Corporate Supporter listings;
• 2010 NCUF donor listings;
• 2010 Financial statements; and 
• 2011 Herb Wegner Award winners.

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About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

NCUF is funded primarily by investments in the award-winning Community Investment Fund (CIF) and by generous Supporters led by the Credit Union National Association and CUNA Mutual. All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization. NCUF continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.

For more information, contact:
Alliant Credit Union
Emily Kress, Marketing / Communications Manager
1200 Associates Drive, Suite 102
Dubuque, IA 52002
800-928-4328 (Toll-Free)
563-585-3723 (Direct)
563-599-8318 (Cell)
Web: www.alliantcu.com  
E-Mail: ekress@alliantcu.com

A Member’s Dream Becomes Reality With Alliant Credit Union

Cedar Rapids, IA – A lot has changed in the past year for Ashley Hochstedler. She recently graduated from the University of Iowa with an electrical engineering degree and business minor. She started her first full-time position at ITC. She got married. But most recently, Ashley and her husband purchased their first home!

Ashley signed up to become an Individual Development Account (IDA) saver in April, 2010. Since then, she’s been saving a little each paycheck into her IDA savings account and working diligently with Brooke Holven, her financial coach at Alliant Credit Union’s Cedar Rapids branch. Ashley saved $2,000 and then was able to get her IDA savings account matched for an additional $4,000 to assist with the down payment of her first home.

An IDA is a matched savings account where savings of a participant are matched by a grant from another organization. Through the Credit Union Family Partnership Program, Alliant Credit Union opens a savings account, and matching funds will come from the Iowa Credit Union Foundation thanks to private grants received by the Foundation. Participants will receive up to a two dollar match for every one dollar saved, depending on asset choice.

The savings and matching funds are then used by the individual to purchase a specific asset, such as a home, starting or expanding a small business, paying for education or job training, or purchasing a vehicle to get to work. Participants must meet income guidelines to qualify for an IDA account.

Being a participant of the IDA program, Ashley was required to complete financial education classes before purchasing her home and receiving the savings match. Ashley said, “The classes helped put into perspective how much I spend on certain items each month and how I should alter my spending. The classes have taught me how to save and budget my money.”

The training and dedication Ashley experienced during the last fifteen months has been instilled into Ashley for future asset purchases. When asked how this opportunity has impacted her outlook on future purchases, Ashley said, “For major purchases, I will use a similar approach to the IDA savings program and set aside a certain dollar amount from each paycheck, putting it into an account that I will not allow myself to make withdrawals from.”

“Ashley was a very motivated saver from the beginning. She had a goal in mind and worked two jobs in order to save for her IDA purchase,” said Brooke Holven, Ashley’s financial coach at Alliant Credit Union. “The financial education classes Alliant Credit Union provided as well as the 1st Time Homebuyers Education class Ashley took really helped guide her in saving that little extra money each month so she was able to reach her goal.”

As for advice to others purchasing their first home, Ashley said, “Plan ahead and budget your savings – at least a year or two in advance. Think about how much you want to spend and then set up a savings plan.”

Alliant Credit Union is an award-winning, full-service financial institution with offices located at 1200 Associates Drive, 1402 White Street and 250 Mercy Drive, Dubuque; and, 200 1st St. SE, Cedar Rapids. Alliant Credit Union has nearly 9,500 members and $87.3 million in assets. For more information, visit www.alliantcu.com or call 563-585-3737 / 800-928-4328.

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PHOTOS:
Image: Ashley Hochstedler1.jpg -- Ashley Hochstedler standing outsider her new home. Ashley participated in Alliant Credit Union’s Individual Development Account program.

Image: Ashley Hochstedler3.jpg – Doug & Ashley Hoschstedler standing outside their new home. Ashley signed up to participate in Alliant Credit Union’s Individual Development Account program April, 2010.

Contact: Christopher Morris
608-231-4374 | cmorris@ncuf.coop  

Six Industry Case Study Findings Detailed in Filene DE Program Research Brief
Report details April DE Training participants’ final projects dealing with current CU issues

Madison, Wis. – The Filene Research Institute recently released a new research brief detailing the solutions to six fictional industry case studies presented from participants of the Credit Union Development Education (DE) Training held on April 6-13, 2011 in Madison, Wis.

The Filene research brief, “Credit Union Development Education Program,” is authored by Mark Meyer, Chief Executive Officer, and George Hofheimer, Chief Research Officer, of the Filene Research Institute. Both Meyer and Hofheimer attended the April DE Training and completed the research brief as their post-training project.

During the week-long DE Training program, participants learn critical lessons in cooperative principles and credit union philosophy while incorporating challenges credit unions face today. In addition to group exercises and speaker presentations, training participants are required to complete and present team case studies proposing solutions for credit unions to help alleviate or eliminate challenging situations in any given area. Filene’s new research brief details the solutions to these case studies put forward by participants. Included in the April DE Training were case studies on:
• Interchange income
• Mergers and small credit unions
• Plans for credit union growth
• Plans for increasing financial capability in America
• Leveraging 2012 as the ‘Year of the Cooperative’ to promote cooperatives (and credit unions)
• Credit union development in Iraq

To download the report, click here. The report can also be found on filene.org or ncuf.coop. It is free to download for both Filene members and non-members.

“First, we feel DE is a unique and important program for the future of credit unions, as it teaches the fundamental differentiators between credit unions and other consumer financial providers,” writes Meyer and Hofheimer in the research brief. “If more professionals apply these concepts in their organizations, credit unions could be poised for a renaissance. Second, the DE class of 2011 presents novel ideas about some very realistic issues in the credit union system. While the case studies are fictional, they do represent scenarios your organization may be facing today.”

About the DE Program:
The mission of the Credit Union Development Education (DE) program is to promote credit unions’ social responsibility and domestic and international development through interactive adult education and professional networking. By linking credit unions’ past and present, the DE program brings renewed relevance to credit unions’ seven cooperative principles and the philosophy of “People Helping People.”

Over the past 29 years, more than 1,000 credit union advocates from over 30 countries have graduated from DE Training to become Credit Union Development Educators (CUDEs). Once they earn their CUDE designation, people return to their jobs with a sense of personal enrichment and renewed energy to share what they have learned. This growing corps of credit union advocates devotes professional and volunteer time to spreading the credit union message to audiences throughout the country.

The National Credit Union Foundation is the primary sponsor of the DE program. Support is provided by CUNA Mutual Group, the Credit Union National Association, the World Council of Credit Unions, state foundations and leagues.

For more information on the DE program, visit www.ncuf.coop under Foundation Programs. The next DE Training will be held at the Lowell Center in Madison, Wis. on April 18-25, 2012. Anyone who is interested in attending the upcoming class can email cude@ncuf.coop to be put on a list to be notified when registration is open.

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About the Filene Research Institute (filene.org):
The non-profit Filene Research Institute is a consumer finance think tank serving the North American credit union system of 100 million members and $950 billion in assets. Filene publishes objective research and fosters consumer-focused financial innovation. The Institute collaborates with leading researchers and academic institutions worldwide.

About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization and continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.

Contact:
Christopher Morris
608-231-4374 | cmorris@ncuf.coop

Nearly $20k Raised to Assist CU People Affected by ND Flooding
Donations Encouraged as Need for Aid Continues

Madison, Wis. – Since activating its online disaster relief system CUAid.coop last week, the National Credit Union Foundation (NCUF) has already collected nearly $20,000 from the credit union community to assist credit union people affected by recent flooding in North Dakota.

“The flood waters in Minot are slowly receding, so the overall devastation is still unknown,” says Jeff Olson, VP of Advocacy and Awareness for the Credit Unions Association for the Dakotas. “The community’s water system was compromised so the entire community (population of 41,000) has had to resort to boiling their water the last two weeks. Some of the estimates have more than 4,100 residential homes lost or heavily damaged, including 3,000 homes under 10 feet of water. While we are humbled by the CUAid response so far, additional contributions are necessary and would be greatly appreciated. We are sincerely grateful for your kind consideration.”

Click here to make a donation.

A video showing the effects of the flooding in Minot, N.D. was recently posted on YouTube. Click here to watch the video or visit http://youtu.be/xNqaOI1Qp1o.

Credit union supporters in every state can make donations through a secured website that accepts credit cards and wire transfers (www.cuaid.coop). CUAid is the only program of its kind that enables credit union employees, volunteers, and members, as well as credit unions and state credit union foundations across the US, to contribute directly to support other credit union people.

As donations are posted through CUAid.coop, NCUF is coordinating with the Credit Union Association of the Dakotas to distribute money efficiently to credit union employees and members in the affected areas.

CUAid was developed by NCUF in cooperation with state credit union foundations, state credit union leagues, and the Credit Union National Association’s Disaster Preparedness Committee in 2006. The secure online tool links the entire credit union system to raise money for disaster relief.

Organizations and individuals can use a variety of CUAid web buttons for their website. Please click here for the easily linkable buttons. Click here for a direct link to the donation form.

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About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

NCUF is funded primarily by investments in the award-winning Community Investment Fund (CIF) and by generous Supporters led by the Credit Union National Association and CUNA Mutual. All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.

The National Credit Union Foundation is a 501(c)(3) tax-exempt charitable organization and continues to earn the Better Business Bureau seal of approval as an “Accredited Charity” for meeting all 20 BBB Wise Giving Alliance Standards for national charities.

Contact:
Christopher Morris
608-231-4374 | cmorris@ncuf.coop  

NCUF Grantee Reaching over 5,000 Low-Income College Students in NY through Financial Education
A Foundation Grant at Work

New York, N.Y. - - Thanks to New York University Federal Credit Union’s “Making Ends Meet” financial education program, low-wealth students of New York University are better equipped to reach life-changing goals. Since starting the program in the 2010-2011 school year, over 5,000 students have attended one of the credit union’s seminars. New York University FCU (NYUFCU) has also seen their delinquency and overdraft fees decrease as a result of the program.

NYUFCU received a grant from the National Credit Union Foundation (NCUF) last year to launch their “Making Ends Meet” initiative. The New York Credit Union Foundation also helped fund NYUFCU’s program. “Making Ends Meet” leverages targeted group financial education using National Endowment for Financial Education (NEFE) curriculum modified to change behavior related to account overdraft, late loan payments and one-on-one coaching strategically deployed to cease the behavior and move students into credit and asset building upon graduation.

“Ironically, few college students receive good financial education,” said Christopher Morris, NCUF Director of Communications. “Credit unions are the ideal institution to help students achieve financial freedom and NYUFCU’s program is evidence of that.”

NYFCU Helps Students “Make Ends Meet”
Students and teachers are people of low-wealth facing growing financial burdens. Students in particular face the financial stress of credit card debt and being unequipped to handle the world of personal finances. According to the Richmond Credit Abuse Resistant Education (CARE) Program, the number of 18-24 year-olds declaring bankruptcy has increased 96 percent in 10 years.

The “Making Ends Meet” program helps students continue their pursuit of higher education, develop financial skills that produce behavioral change to reduce and prevent account overdraft and loan payment delinquency. This also helps mitigate risk at the financial institution. NYUFCU’s innovative program is one of the first to include classroom style learning and one-on-one coaching in tandem with waived fees for participation, while working within the lifestyle of the college student. Free financial education and coaching delivered directly where these students live and attend classes both attracts new credit union members and addresses the need of underserved consumers of low-wealth. Finally, by working with NYU, the program helps thousands of students keep from obtaining high-interest debt and credit cards and being forced to drop out of school.

Seminars for Students
During the school year, NYFCU hosted numerous financial education seminars for the freshmen students on topics such as "Smart Money Management: College budget," "Understanding your credit report," "Wise use of credit cards," and others. Most recently they conducted a "Smart Money management" seminar at the NYU School of Dentistry for graduate students with 307 students in attendance.

NYUFCU’s modest goal for the initial seminars was to have 50 students attend. By the end of the school year, over 5,000 students ultimately attended the seminars. More importantly, NYUFCU saw results and increased membership. The credit union’s delinquency decreased from 0.72% to 0.37% from December to March. During the same time period, overdraft fees decreased from $980 to $625 and the credit union has opened over 200 student checking accounts.

A Foundation Grant at Work
NCUF grants are made possible by supporters of the Foundation and the Community Investment Fund (CIF), an award-winning system of investments that help credit unions earn dividends while donating to national and state community development programs.

This “Grant at Work” is part of a series highlighting NCUF grantees making a positive impact in their community and empowering consumers to achieve financial independence through credit unions.

*Note to editors: a high resolution version of a picture for this release can be downloaded here: http://resource.cuna.org/dl/f0705v4oHem.jpg

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About the National Credit Union Foundation (ncuf.coop):
The National Credit Union Foundation is the US credit union movement’s primary national philanthropic program provider, fundraiser and grant-maker. Through NCUF grants and programs, credit unions provide widespread financial education, create greater access to affordable financial services, and empower more consumers to save, build assets, and own homes.

NCUF is funded primarily by investments in the award-winning Community Investment Fund (CIF) and by generous Supporters led by the Credit Union National Association and CUNA Mutual. All NCUF donors provide support that empowers NCUF and state credit union foundations to make a real impact in the credit union community.