 The National Association of Credit Union Services Organizations (NACUSO), the only trade association focused on growing and protecting the CUSO movement, is accepting entries for the 2023 Next Big Idea Competition through February 17, 2023.
The Next Big Idea Competition, our version of the popular TV Show “Shark Tank” is now in its eleventh year. This event was designed to showcase innovation, collaboration, and new solutions for our industry. We are excited to announce another year in which prize money will be awarded — $7,500 for first place, and $2,500 for second place courtesy of Co-op Solutions. The competition provides a platform for visionaries to present their ideas and initiatives that will drive the movement forward; advancing the service and solutions provided by credit unions. Contestants are encouraged to submit ideas or initiatives that meet the following criteria: improve earnings, enhance member service, deliver new products and services to members, and/or improve delivery channels to members. These initiatives can be at any stage in development such as early stage and in need of investment, ready to be delivered, or already in motion currently growing and changing the industry. A selection committee will select finalists to compete, and by March 1st all entries will be notified of their competition status. The Next Big Idea Competition will be held in-person at the NACUSO Network Conference on Tuesday, March 28, 2023, at the Wynn Las Vegas Resort. The chosen contestants will get to present followed by questions from our guest judges. At the end of the presentations, the audience will vote to instantly select the first and second place winners of NACUSO’s 2023 Next Big Idea Competition. The first-place winner will also secure a presentation spot at the 2023 NASCUS State System Summit in Nashville, August 2023. To submit an idea or review important information related to the 2023 Next Big Idea Competition, visit: www.nacuso.org/conferences/2023-nacuso-network/now-accepting-nominations-for-the-2023-next-big-idea-competition-through-february-17-2023/ . The deadline for submissions is February 17, 2023.
0 Comments
SECU and SECU Foundation Provide Joint Gift of $5 Million to Develop Dorothea Dix Park in Raleigh1/26/2023  The largest joint giving to one entity from State Employees’ Credit Union (SECU) and the SECU Foundation was announced today – a $5 million contribution to the Dix Park Conservancy to support the development of a historic 308-acre public site into an urban park in Raleigh, the Dorothea Dix Park.
SECU’s corporate gift of $3 million combined with $2 million from SECU Foundation will honor the history and legacy of the land while bringing expansion to the landscape and surrounding communities. SECU’s gift aligns with its three pillars for corporate funding – culture and arts, health and wellbeing, and education. SECU Foundation’s grant supports its priorities of education, healthcare, and human services. The announcement was made by SECU and SECU Foundation board chairs during today’s groundbreaking event. The funding will be used to transform three historic stone houses at the Dix Park entrance into a Welcome Center, Conservancy Corps offices, outdoor seating and classroom space, gardens, and an accessible pathway connecting the park to the nearby Rocky Branch greenway. It also will support the Conservancy’s plan to continue offering admission-free festivals and programming as a statewide community gathering place. The Park is expected to host one million visitors by 2024. “Through the Foundation’s mission and collaborative efforts with the Conservancy, we are bringing an innovative project to life that demonstrates our shared philosophy of ‘People Helping People®’ through new and lasting connections,” said Bob Brinson, SECU Foundation board chair. “It’s a pleasure to share in the preservation of Dix Park through the restoration of historic buildings that will welcome, educate, and serve hundreds of thousands of visitors.” “We support and join the vision for the development of Dix Park, an exciting initiative that will bring tremendous value to downtown Raleigh, the capital area, and our state well into the future,” said Chris Ayers, SECU board chair. “Dix Park will be a tangible reflection of the people who live and work here by offering recreational, educational, social, and environmental benefits for our community and visitors from across the globe. We couldn’t be more pleased to join the many supporters and respected community leaders working together to make this project happen.” “SECU’s traditions and values make it the perfect partner for Dix Park on this landmark project,” said Janet Cowell, president and CEO of Dix Park Conservancy. “From its founding, SECU has supported state employees, thousands who have worked at our campus over the decades. And fundamentally, SECU is about people helping people. The professionals who lived in these historic homes also dedicated themselves to helping people. And going forward, Dix Park will help countless visitors connect with their environment and community. We thank SECU and the SECU Foundation for their generous support. And we look forward to enjoying the new facilities, reflecting on the thousands of people who came before and celebrating the countless visitors who will learn and flourish here in the future.”  “The big picture view of economic growth in the fourth quarter is a positive one. Much of that growth was concentrated in inventory build, which is unlikely to grow at a similar pace in 2023. Nevertheless, with resilient consumer spending, low unemployment claims, and receding inflation, some of the clouds that were forming over the economy several months ago are beginning to clear.”
– NAFCU Chief Economist and Vice President of Research Curt Long  Charlotte Nemec Canopy Credit Union is thrilled to announce its 2022 financial gifts to the Eastern Washington community. Canopy invested over $200,000 into Local nonprofits, community organizations and its members over the course of the year. "This is by far the Largest sum of money we have given back to the community in a year," Canopy President/CEO Charlotte Nemec said. "It's exciting to watch Canopy continue to grow so we can do even more to support Local organizations and be able to thank our amazing members through rewards. For a credit union our size, these numbers are impressive." The breakdown on Canopy's monetary gifts to the community include:
In 2022, Canopy partnered with over 25 nonprofits and community organizations. providing financial support as well as on-site workshops. Additionally, the credit union's staff docked in a total of 135 volunteer hours over the course of the year, which Canopy compensated as part of its paid volunteer time program. Those dollars distributed in cash back rewards and ATM refunds gave members additional support on their journey to financial wellness.
As one member recently wrote in a review, "They are community focused. They care about people by Listening, meeting needs and going above and beyond to show you you're Loved and respected. I'm glad this is my money management team." To Learn more about Canopy Credit Union, Log on to www.canopycu.com.  Caroline Willard After a 93% member vote in favor of the Cornerstone League-Heartland Credit Union Association merger, the Cornerstone League board of directors has expanded to accommodate directors from Kansas and Missouri. The updated roster includes the following:
The new directors will serve a three-year term (2023-2026) and join the existing Cornerstone League board members:
“We welcome our new directors and the expertise they bring to Cornerstone,” said Caroline Willard, Cornerstone League president and CEO. “Now that our teams are successfully combined, our board will continue to guide us in delivering unprecedented value to our members.” For merger details – including a timeline and archived articles – visit the merger FAQ page on the Cornerstone website.  The Iowa Credit Union Foundation (ICUF), the philanthropic arm of the Iowa Credit Union League, invested more than $155,000 in mission-aligned initiatives in 2022 to help champion financial well-being for all. Throughout 2022, ICUF strengthened its impact through expanded programming and continued support for credit union members and state-wide community organizations. Highlights of ICUF’s impact include:
Serving as the hub for Iowa credit union philanthropy, ICUF continues to address the needs of Iowans through investments, collaboration, education and advocacy. 51 credit unions across the state supported ICUF with a record-breaking charitable donation of $133,250. Additionally, ICUF received $67,500 in year-end gifts from Affiliates Management Company (AMC), holding company of the Iowa Credit Union League and its affiliates, including Coopera, First Community Trust, N.A., ViClarity and PolicyWorks to jumpstart its 2023 work. Collectively, this adds up to $200,750 in year-end donations. “The Iowa Credit Union Foundation appreciates the continued support from Iowa credit unions, AMC and its family of companies as we start our work for 2023 and carry out our mission,” said Ena Babic Barnes, ICUF Executive Director. “As ICUF continues growing its impact, donations like this allow us to invest more into grants, programs and initiatives that support financial inclusion and well-being for all in Iowa.” To start the new year, ICUF announced changes within their Executive Committee. Marian Holmes, VP of Consumer Lending & Governmental Affairs at Community 1st Credit Union, was elected as Board Chair for the 2023 term. Ann McMillian, ICUF’s outgoing Board Chair, will serve on the board for the remainder of her third year. “I want to thank the entire board for their dedication to ICUF’s mission of championing financial well-being for all,” said Marian Holmes, ICUF’s incoming Board Chair. “Our board will continue to raise the threshold for fundraising to ensure our dollars will go toward developing innovative solutions that support our ‘People Helping People’ philosophy. I am looking forward to a meaningful 2023.” ICUF also welcomed Kim Fettkether, Vice President of Strategic Development & Advocacy Officer at Veridian Credit Union, to its Board of Directors at its annual meeting last month. Fettkether will serve a three-year term. “I am honored to join the Iowa Credit Union Foundation board and be a part of an organization that aligns so closely with both my professional and personal life,” said Kim Fettkether. “I look forward to working alongside fellow board members to provide strategic guidance and help strengthen ICUF’s commitment to improve the financial well-being of Iowans.” The 2023 ICUF Board of Directors are:
Founded in 1995 as the philanthropic arm of the ICUL, ICUF’s mission is guided by the credit union philosophy of ‘people helping people’. ICUF achieves this through its various programs, grants and scholarships. For more information, visit www.IowaCreditUnionFoundation.org.  The WEOKIE Foundation is dedicated to providing support to the community and to charitable organizations that offer assistance to local citizens. Since its inception in 2006, the Foundation has awarded scholarships totaling more than $642,500 to deserving high school seniors desiring a post-secondary education. The WEOKIE Foundation is proud to award 25 high school seniors $2,000 scholarship for college or vocational school.
Each student submits an essay identifying the career they wish to pursue. In this career field, they are asked to share the challenges they might encounter and detail strategies or tactics they will use to reach their ultimate goal. Applications are open to all graduating seniors in Canadian, Cleveland, Grady, Lincoln, Logan, McClain, and Oklahoma counties where WEOKIE serves existing members. The deadline for the scholarship contest is Tuesday, January 31, 2023. Visit the scholarships WEOKIE Foundation webpage (WEOKIE Foundation Scholarships | Oklahoma | WEOKIE Federal Credit Union) for more information.  $355,000 disbursed to target areas of need identified by WOCCU member credit union associations
Worldwide Foundation for Credit Unions (WFCU) in December 2022 disbursed three new grants worth a total of $355,000 from its Ukrainian Credit Union Displacement Fund to help credit unions in Ukraine cover the cost of operating expenses, purchase alternative sources of power and recover the unpaid interest on loans as part of its continuing effort to provide relief amid Russia’s ongoing full-scale invasion of Ukraine. WFCU identified those three areas of need in cooperation with the All-Ukrainian Association of Credit Unions (AUACU) and the Ukrainian National Association of Savings and Credit Unions (UNASCU), both of which are World Council of Credit Unions’ (WOCCU) member organizations. The grants are being channeled through the two national associations and on to their member credit unions. Under martial law, military personnel in Ukraine are exempt from paying interest on their loans, which limits the ability of credit unions to provide new lending. The Worldwide Foundation’s Servicemen Interest Compensation Program reimburses credit unions on that lost interest, which helps them continue to lend to more people in wartime. 42 associated credit unions applied for the program and have already received compensation totaling $170,000. With growing inflation and an economic recession enveloping the country, credit unions also find it harder to stay fully operational and serve their members like they did before the war. To support them, WFCU spent a total of $130,000 under its Covering Operational Expenses Program to compensate 75 credit unions for a portion of their operating expenses. Russia’s constant shelling of Ukraine’s critical infrastructure and power grid has resulted in blackouts across the country, depriving credit unions of the electricity needed to maintain daily operations. To address this challenge, WFCU’s Alternative Power Sources Program co-financed the purchase of alternative energy sources for credit unions. This enables credit union staff to serve their members even during power outages. A total of 91 credit unions each received $600 to put toward the purchase of power generators, power stations or power banks. Grant dollars from the three new programs went to nearly 100 credit unions, which comprise more than two-thirds of Ukraine’s entire credit union market. The assistance is critical as credit unions continue to support their communities during nearly a year of ongoing war in Ukraine. “Thanks to WOCCU and WFCU efforts, as well as donations from the global credit cooperative community, Ukrainian credit unions have received invaluable assistance. In these difficult times for our credit unions, the assistance provided has been a significant contribution to the support and preservation of the Ukrainian credit union movement. Your support emphasizes that all of us, together, make up a large global credit cooperative family,” wrote Olga Tugai and Volodymyr Sydorovsky, managers of the All-Ukrainian Credit Union Association, in their joint letter of appreciation to Worldwide Foundation for Credit Unions. The three new grant programs are the latest in WFCU’s ongoing effort to assist credit unions and their members through the Ukrainian Credit Union Displacement Fund. Under its Fuel Disbursement Program, WFCU tapped the Displacement Fund in October 2022 to purchase $100,000 worth of diesel from Ukrainian national fuel station chain OKKO, and provided a total of 1,329 free fuel coupons to Ukrainian small- and medium-sized farmers who took out agricultural loans at credit unions that partner with the USAID/WOCCU Credit for Agriculture Producers (CAP) Project. Through an account set up in collaboration with Ridnia, a Ukrainian NGO, another $100,000 grant was disbursed in June 2022 to reimburse eligible CAP-partner credit union member farmers on 10% of their agricultural loan principal payments. To date, $70,000 has been distributed from that account to repay 10% of the loan principal for more than 1,000 member farmers. WFCU in March 2022 awarded a $50,000 Displacement Fund grant to the Podolian Agency for Regional Development (PARD), a Ukrainian non-governmental organization that is providing humanitarian assistance to hundreds of refugees from Kyiv, Kharkiv, Mariupol, Kherson, Melitopol and other cities who sought refuge in the Vinnytsia region of western Ukraine. PARD used part of the WFCU grant to assemble a temporary shelter, and also worked to purchase and deliver food, water, medicine, bedding and other supplies to internally displaced Ukrainians. To date, Worldwide Foundation for Credit Unions has now disbursed more than $600,000 from its Ukrainian Credit Union Displacement Fund to assist credit unions, their members and their communities that are struggling during wartime. “We continue to be overwhelmed by the support of the international credit union community, which has now donated nearly $2 million to the Displacement Fund in less than one year. We will keep looking for ways to provide aid to credit unions during the war, while keeping money on hand for the eventual restoration and rebuilding of Ukraine’s credit union system,” said Mike Reuter, WFCU Executive Director. To donate to the Ukrainian Credit Union Displacement Fund, click here  With the power to help credit unions work more efficiently, boost productivity and provide all-around better member service, financial technology has become forefront in the minds of credit union leadership looking to gain a competitive edge. In November, credit union executives and team members, CUSOs, leagues, and investment groups will have the opportunity to gather with representatives from fintech at VentureTech, the credit union industry’s premier fintech showcase event.
Presented by Curql Collective and CUNA Strategic Services (CSS), VentureTech 2023 is slated for November 6 – 8 at the Omni Frisco Hotel in Frisco, Texas. The event will give the credit union industry an inside look at innovative emerging fintech designed to meet the needs of credit unions and their members. This year’s VentureTech will build on the success of its 2022 event, which featured 26 fintech presenters and impressed hundreds of attendees from all corners of the industry. “VentureTech is a must-attend for progressive credit unions seeking transformative technology solutions," said Paul Kirkbride, chief operating officer at Washington State Employees Credit Union. "The event showcases innovative companies solving real-world problems, for our members and us, in an easy-to-consume format. And the networking opportunities are endless." "Attending VentureTech allowed us access to a group of people passionate about fintech and innovation in the space," said Omar Jordan, founder, and CEO of Coviance (formerly LenderClose). “Additionally, it's a great place for technology providers to network and collaborate." Mark your calendars and stay tuned to https://myventuretech.com/ for more information and registration. Also, save the date for VentureTech 2024 – November 12-14, 2024 also at the Omni Frisco Hotel.  Chris Gunnare PSCU, the nation’s premier payments credit union service organization (CUSO), has announced a new partnership with Communication Federal Credit Union (CFCU). CFCU selected the CUSO as the credit union’s integrated financial technology solutions provider for credit card processing support and services.
Founded in Oklahoma City, CFCU began in 1939 as Pioneer Bell Credit Union to serve Southwestern Bell Telephone employees. The credit union underwent a name change in 1982 to reflect its expanding membership base. Today, CFCU serves members across Kansas and Oklahoma and supports numerous projects that give back to local communities. Operating 22 branches and holding $1.95 billion in assets, CFCU sought a partner that would align with the credit union’s dedication to serving its members and their financial needs. CFCU conducted a comprehensive review of potential providers before choosing PSCU as its new credit card processing partner. “CFCU strives to regularly update our products and processes to meet our membership’s needs,” said Christina Titterington, VP of Electronic Services at CFCU. “In PSCU, we found a partner that understands the credit union’s direction and will work with our current systems to provide the features and functionality required for success.” The CUSO will begin providing credit card processing support to more than 115,600 CFCU members in August 2023. “PSCU and CFCU share a commitment to service and experience excellence, as well as continuous innovation,” said Chris Gunnare, SVP, chief sales officer at PSCU. “We look forward to furthering that shared commitment by delivering secure and innovative credit card processing services to CFCU’s members.” The credit card processing partnership with PSCU accompanies CFCU’s continued expansion, including opening new branches in Ada and Piedmont, Oklahoma, branch during 2023. Having received the prestigious five-star rating from BauerFinancial, Inc. for more than 30 consecutive years, CFCU maintains a strong commitment to helping serve the financial needs of its growing membership. “Guided by our mission and more than 80 years of experience, CFCU endeavors to provide the best overall value of financial products and services available,” said Billy McDaniel, SVP of Lending at CFCU. “We are pleased to partner with PSCU to enhance the trustworthy services and seamless experiences CFCU’s members expect from their credit union.” |
Author: Mike LawsonMarried to a most gorgeous and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple. Archives
September 2024
Categories |
RSS Feed
|
Privacy Policy • Copyright © 2024 CUbroadcast
|