P.O. Box 190 Glenelg, MD 21737-0190 443.325.0771
443.853.1977 F firstname.lastname@example.org
Credit Union Resources
April is Financial Literacy Month;
Financial education is one of the core values of the Credit Union Movement and April is the perfect time for you to share your support for financial literacy with your members.
Celebrate Financial Literacy Month at your credit union and help support these important programs.
• Financial literacy grants to credit unions
• Free Quicken™ personal finance software
• The Millionaire’s Club high school program
• Support for community financial fitness days
The Foundation has awarded $168,000+
in financial literacy grants and programs since 2006.
Please Help Keep These Programs Alive!
• Choose one week in April when you will highlight Financial Literacy.
• Inform your frontline staff about the idea.
• Ask them to invite every member they serve to support the Foundation’s financial literacy programs. “Would you like to make a donation in support of financial literacy?” Suggest a donation as small as $1.
• Every member who contributes gets an “I Support Financial Literacy” sticker.
• Donors may write their name on a donor sign to display in your lobby area(s).
• At the end of your Financial Literacy Week, forward the donations to the Foundation.
To request your free Financial Literacy Month Promo Kit, click here.
Every credit union or branch
that participates will be entered into
a random drawing to win a
staff pizza party courtesy
of the Credit Union Foundation!
Support Financial Literacy!
Request your Financial Literacy Promo Kit today
Donations are tax-deductible
Foundation Announces 2014
$12,000 Credit Union Scholarship Program
Do you have members who could use some help with college tuition? Well the Credit UnionFoundation of MD & DC is pleased to announce a college scholarship program that makes it easy for you to help your college-bound members meet their tuition costs while strengthing your bond with those members.
The $12,000 Credit Union College Scholarship Program for 2014 is underway now! Your college-bound members are eligible to apply for one of ten $1,000 essay-based scholarships, one $1,000 video-based scholarship, and one $1,000 photo-based scholarship. And yes, members can apply in all three categories!
Deadline for applications is March 31, 2014. Awards will be made in May 2014.
The Foundation provides everything you need to offer this program to your members -
The $12,000 in scholarship funding
A roster of 85+ judges
Sample newsletter / website articles
Graphics, and more!
Make sure your members know about this scholarship opportunity with the Foundation's Scholarship Marketing Package. Click below to download all you need!
"What can you do to help yourself become financially literate?"
Any member of a Mayyland or D.C.-based credit union who is entering their freshman through senior year of college or trade school may apply.
“We’re pleased to offer this opportunity for our young members,” notes Foundation Chair, Donald Tynes. “The awardees receive needed financial assistance to help them meet their tuition expenses and the essay and video topics provoke innovative and useful responses to help us better serve our college-aged members. And the applicants learn a little more about their credit union.”
Start promoting the scholarship today!
Download the 2014 scholarship application by clicking the image:
Is your credit union eligible? Check this listing to be sure.
Baltimore County Employees FCU
Celebrates 50 Years of Service
Full-Year Observance Provides Template For Others
(click on any image to view a full-resolution version)
2013 marks the 50th Anniversary of Baltimore County Employees Federal Credit Union. Based in Towson, Maryland, the seat of Baltimore County Government, the Credit Union was established on January 15, 1963, to serve the financial needs of county workers and their families. Ten years ago, a full-service branch office was opened in Perry Hall to accommodate the large percentage of members residing in the Eastern section of the county. These two offices, with a team of over 50 employees, serve nearly 28,000 members.
An outline of 50th Anniversary activities and member specials was discussed in 2012 and a budget was created for the project. Here’s a recap of their 2013 events that can serve as a guide to other Credit Unions looking to do something special for their members.
A 50th Anniversary Logo was created and themed throughout the year on print material and on the website. The January 2013 newsletter contained a lead-in story, posters with the special logo were added to the lobby décor and the original 1963 charter document was enlarged and displayed for members as the first quarter kick-off to the celebration.
As the second quarter began, the 50th Annual Meeting was held on April 9, 2013, at Columbus Gardens with nearly 200 in attendance. The event’s commemorative theme was evident by the 50th Anniversary décor, a specially decorated cake, and an attractive history display showing the Credit Union’s progress over five decades. Twenty lucky members were each awarded a $50 VISA Gift Card and all attendees received a tote bag with the 50th Anniversary logo as a keepsake. Marketing Coordinator Nick Prevas also provided some interesting historical facts tied to the displays to spark member interest.
The highlight of the evening was the distribution of a new publication entitled, “Celebrating a half-century of serving our members.” This 12-page synopsis of Credit Union history included great nostalgic photos allowing older members to reminisce their past while younger members got a chance to see how the Credit Union has evolved over the years. Within a few months, over 500 booklets were in circulation and the feedback was very positive. The history was also placed on the website with a link from the homepage. The Credit Union wanted something special for this so the webmasters at Sequel Design Associates re-created the format so pages turn right on the screen!
Throughout the year, a number of 50th Anniversary Year specials were advertised to promote various financial products and services. For instance, beginning in February 2013, members who opened a new checking account with four related convenience services (e-Statements, Direct Deposit, SmartCash Check Card, Online Banking) received $50 added to their savings. From April through June 2013, members taking out home loans were entered into a drawing for a $500 VISA Gift Card. During the summer of 2013, Vehicle Loans received $50 toward gasoline.
Keeping with the historic theme, 2013 also marked the 10th Anniversary of the opening of the Perry Hall Office and a celebration was slated for June 15, 2013 to mark that occasion. Over two hundred members came through the event and most everyone entered four prize drawings (which included two iPad Minis) held from 10 am to 1pm. That day, the coin counting machine service was free and members were most appreciative. Employees from different departments were on hand to talk with members and answer questions. The branded theme of all special literature was “Why do business with us!” For the children, a face painter and balloon twister provided entertainment and everyone had the chance to enjoy great food and refreshments.
By the Fall season, a 50th Anniversary Bull Roast / Oyster & Shrimp Feast was scheduled for September 29, 2013. It was colorfully advertised in print and on the website with three themes: Great Food, Great Music, and Good Times. Specially designed tickets were cleverly priced with a “50% discount for the 50th Anniversary Year.” Within a few weeks, all 300 tickets were purchased and the event was sold out!
In concluding the half-century anniversary, an “Open House Celebration” was planned for the Towson Office for Thursday, October 17, 2013. Similar offerings such as prize drawings, special anniversary-themed gifts for attendees, latest product and service literature and food and refreshments were on the agenda. The entire 50-Year celebration was a great way of giving back to the members and thanking them for their loyal support over the years.
Building Your Auto Loan Portfolios While Supporting Financial Literacy
The Credit Union Foundation and Enterprise Car Sales are joining forces to provide credit unions with a means to serve their members, boost auto loan portfolios, and support financial literacy programs in Maryland and the District of Columbia.
The three-month event bundles quality used auto selections with extensive complimentary promotional materials to create guaranteed auto loan opportunities for participating credit unions. To increase their support for both credit unions and the Foundation, Enterprise is pledging a $50 donation toward the Foundation’s financial literacy grants and programs for every referred sale during the November through January event.
“The Foundation is pleased to partner with Enterprise Car Sales and participating credit unions to generate funds for financial literacy initiatives,” noted Kyle Swisher, Foundation Executive Director. “We’re working with credit unions to fund their individual financial education programs and to reach hundreds of students through new Millionaire’s Clubs. This event will help generate loans for credit unions and create proceeds to help the Foundation expand our financial literacy efforts.”
“The Foundation has cooperated with Enterprise to help credit unions and their members in the past,” said Swisher. “We’ve held successful events over the years, but this is the first time we’ve designated the sales donations to a specific area and we’re looking forward to broad credit union participation in support of important financial literacy efforts.”
Credit unions are reaping benefits, too. “We’ve worked with Enterprise and the Foundation on similar programs in the past and have found this to be a productive way to grow our used auto loan portfolio,” said GPO FCU’s Marcia Dixon, whose $33 million credit union generated 9 loans from a similar 2011 program. “The promotional materials are impressive, the auto selections are ample, and our members’ responses have been positive.”
In Baltimore, Destinations CU CEO Brian Vittek has an additional reason to support the event, “Destinations has benefitted from a Foundation grant in support of our community financial literacy efforts so we’re very pleased to see this event offered and we plan to participate.”
The three-month event runs through November, December, and January. The goal of the program is to generate 120 sales and produce $6,000 in funding for financial literacy grants and programs while building participating credit unions’ loan portfolios.
Credit unions need to enroll before September 31st, 2012.
For more information contact the Foundation at (443) 325-0771 or Lee Turner, Enterprise Car Sales - Baltimore, at (443) 506-4613 (email email@example.com). In the DC Metro area contact Sue Kelley, (301) 674-1523 (email Suzanne.A.Kelley@erac.com).
Download the complete story on the Enterprise Program by clicking the image to the right.
And be sure to download our Enterprise Program Projections Calculator to help you calculate and visualize how participating in the program can help both your credit union and your members. Click the image below to download the calculator.
View the 2012 CU Foundation Presentation
From the MDDCCUA Annual Meeting & Convention
The Credit Union Foundation was pleased to have been chosen to present one of a few select breakout sessions at the 2012 MDDCCUA AMC. If you were not able to attend the convention or breakout session you may view the presentation below (without the accompanying details provided by Executive Director Kyle Swisher at the convention).
QuickTime is required to view the presentation and may be downloaded for free at:
You can download a copy of the latest "Turn Key" pull-out section from the Foundation's Potential newsletter by simply clicking on the image on the right.
Credit Card Transfer Programs Grow Loan Portfolios;
Provide Members With Long-Term Benefits
Read How Montgomery County EFCU Implemented Their Successful Program
When Montgomery County EFCU CEO Jim Norris asked his staff to increase credit card activity at the $81 million Germantown, MD credit union, he wasn’t afraid to issue a few pink slips.
“We started with a theme of ‘give your bank their pink slip’ and switch your high-rate credit card account to Montgomery County EFCU,” noted Norris. “We then added an extra incentive and pledged to donate $50 per new account opened to support breast cancer awareness and research.”
A direct mail flyer announcing an attractive 2.99% APR for nine months on all credit card balance transfers was developed alongside a matching statement stuffer. Norris also went to the airwaves with a radio ad announcing the new program.
The results were impressive. Montgomery County EFCU’s 12-month card loan shot up 19% over the previous 12-month period and Norris predicts that growth to reach 35% this year.
“This is a great ‘win-win’ opportunity for the credit union and the member. We secure new credit card loans and the member enjoys both an immediate reduction in their rate and long-term savings as well.”
More details on the “Think Pink” program appear in the Q&A on the latest issue of "TurnKey". Just click the image to the right to download your copy.
And click the links below to review Montgomery County EFCU's marketing materials used to promote "Think Pink".
Click the play button below to hear
Montgomery County EFCU's
"Think Pink" Credit Card Balance Transfer Radio Ad
Click the image below to view Montgomery County EFCU's
"Think Pink" credit card balance transfer marketing materials.
Help your members see the benefit of transferring high-rate
credit card balances to your credit union's credit card program.
Download the balance transfer calculator by clicking the image below.
Helping Youth Members Build Credit Safely
Credit unions have long held the high ground on protecting young members from predatory lending practices. And members need to establish their credit rating so they will be ready when it’s time for an auto or home loan. Protecting members while preparing them for future credit responsibilities can be a tricky balancing act.
At Destinations Credit Union in Baltimore, they’ve established a credit card program designed to do exactly that.
Destinations’ “Credit Builder MasterCard™” was developed for young members without a credit history. The program combines a low credit limit, no annual fee, and a competitive rate to help members establish credit while avoiding excess debt. And to sweeten the deal, Destinations includes a rewards program that allows users to use accumulated points for gifts and travel while they establish credit. It’s a new program, and one worth sharing.
Members begin the application process online and once established they can view their Credit Builder activity and balances via Destinations’ website.
A Q&A with Destinations CU’s Marketing Director Carol Szaroleta appears on the issue of "Turn-Key" that you can download below.
"Credit Builder "
issue of Turn Key.
Use our free online tools to see how a “Credit Builder " Program can help your members and your credit union.
Download the "Credit Builder " Calculator by clicking the image below and see how the program can benefit your members and your credit union.
Help Members Save On Energy Bills & Grow Loan Portfolio
It was an idea that grew out of a Board Planning Session, recalls St. Agnes Employees FCU CEO Margaret Burdette. “With gas and energy costs rising, members were looking for ways to save on their bills. Hybrid cars were growing in popularity and the government was rolling out incentives to encourage consumers to move toward more energy efficient purchases, from replacement windows, to heat pumps, to appliances.”
The credit union’s Loan Committee developed policy and loan recommendations for the Board to consider and the “Green” Loan Program was launched.
Under the provisions of the program, members apply for loans in three different categories, auto loans, personal loans, and home improvement loans. In each case members are offered a 1/4% reduction off the credit union’s current loan rates for approved purchases. Appliances and home improvements have to be recognized as either Energy Star-qualified, or in the case of home improvements, the project needs to qualify for federal or state tax credits for consumer energy efficiency. Any hybrid car, new or used, qualifies for the program. So do any new or used autos with a combined MPG of 28 or higher. And while “Cash for Clunkers” has expired and federal tax credits are being phased out, members can still save energy, qualify for a reduced loan rate, and do their part to create a “greener” America while building St. Agnes’ loan portfolio.
issue of Turn Key.
Click the image
Use our free online tools to see how a “Green Loan" Program can help your members and your credit union.
Download the "Green Loan" Calculator by clicking the image below and see how "Green Loans" can benefit your members and your credit union.
Police FCU Grows Loan Portfolio, Aids Members
With $5-A-Minute Loan Challenge
Maybe it’s the competitive nature of their members or the universal draw of a “can’t lose” offer, but Police FCU’s experience with their “5-Minute Loan Challenge” has been a winner for the credit union, its members, and staff.
On an intermittent basis, Police FCU will announce the challenge to their membership. The rules are simple: If the credit union can’t beat the term of a member’s existing auto or personal loan at another institution in 5 minutes, the member is awarded $25. On the spot.
From the members’ perspective all they have to lose is 5 minutes. Either way they walk away with a better loan or $25 cash. From the credit union’s perspective, it’s a chance to help their members while growing their loan portfolio. The real key to the program’s success, according to CEO Danny Gregg, is staff empowerment.
“We’ve been doing the 5-Minute Challenge on-and-off for years and I can tell you that the only way this program can work is if you empower your staff to work with the member to beat their current loan rate,” says Gregg. “Empowerment, within guidelines, is the key.”
Loan acquisitions have long been a good way to move credit union members to better terms while adding to a credit union’s loan portfolio.
When Police FCU decides it wants to ramp up their loan activity, the 5-Minute Challenge is rolled out to its 11,000+ membership. Marketing the acquisition program as a challenge grabs members’ attention. Add the $25 bonus and the challenge’s 5-minute limit, and you really hold the members’ interest.
Click Image For Promo Ideas
Fore more details and a Q&A with Police FCU's CEO Danny Greg, click the "Turn Key" graphic at the top of this article.
And to calculate your own credit union's projected success with a loan challenge program, download the Loan Challenge Calculator by clicking the image below.
Click this image to download the
Loan Challenge Calculator
Foundation Launches Mobile “Credit Union Finder” Application; Available From App Store At No Cost
Help your members stay connected with you though their mobile devices.
The Foundation has released the industry’s first mobile application that allows users to locate, map, and contact your credit union directly from their iPhone™, iPod Touch™ or iPad™. “Credit Union Finder™” is a free application available now at the Apple App Store.
The Foundation developed the mobile application with Innovation Grant assistance from the National Credit Union Foundation, graphics support from Visions, Ink., and data from credit unions nationwide.
Every week more credit unions are establishing mobile banking capabilities. Credit unions realize the value of mobile applications, especially to their younger members. The Foundation wanted to help members find and contact your credit union through a mobile appand to help non-members find a credit union they could join.
The app is available at no charge. It includes your credit union and all credit unions coast-to-coast and branches overseas.
The free app can be found at the Apple App Store under “Credit Union Finder”.
Add a link to Credit Union Finder On Your Website!
Click logo below to be directed to the Credit Union Finder at the Apple App Store:
Calculate A Member Milestone Program With This Calculator Download
Great credit unions know the simple secret to growth: Keep the members you have. At Johns Hopkins FCU that means recognizing their longtime members with a special milestone commemoration and gift.
“We want our loyal members to know that they are valued,” said JHFCU’s Lynn Gregory. “So after their 20th membership anniversary date we present them with a small desk clock and a note of thanks from our President. The tokens of appreciation are well received and help us keep our member / credit union relationships alive.” The program has been in operation for 14 years.
Click the image to the right for more details and a Q&A with Johns Hopkins FCU's Lynn Gregory.
Calculate your own credit union’s investment in a member milestone program with this downloadable interactive calculator.
Click the image below to download the excel spreadsheet, then enter your own member data to evaluate your member milestone program.