September 2012
FOCUS is the monthly eNewsletter of the Office of Small Credit Union Initiatives (OSCUI). It focuses on helping small credit unions achieve success by providing news and highlighting opportunities. Click here to subscribe to FOCUS.
topFeatured this Month (Click on a heading to go to the article.) 
Partnerships & Resources: Save the date - OSCUI co-sponsors IDA webinar
Happening in OSCUI: Information and updates
HeadlinerMajor boosts to "OSCUI" credit unions

 

Over the past two months, NCUA has launched two campaigns that have significantly impacted credit unions served by OSCUI.

 

553 new LID credit unions.

That's how many of the 1,003 federal credit unions notified of their eligibility last month, have accepted the low-income designated (LID) credit union status. NCUA announced the 55% acceptance rate in a recent news release.

 

"We thought it was important for credit unions to be made aware of their eligibility so they could take advantage of tools to better serve their members and communities," said NCUA Board Chairman Debbie Matz. "We, therefore, cut red tape and made it possible for eligible federal credit unions to opt-in to the low-income designation." Click here to read the entire release.

 

To learn more about LID and the benefits to eligible credit unions, review the Low-Income Designation Fact Sheet on OSCUI's webpage.

 

Computer donations to small credit unions. NCUA recently announced:

 

Fourteen small credit unions will be able to improve service and reduce their environmental footprints with new laptop computers provided by the National Credit Union Administration (NCUA)... "We're constantly seeking opportunities to give small credit union managers the tools, training, support, and resources needed to improve efficiency and aid in the economic viability of their institutions," said NCUA Board Chairman Debbie Matz. Click here to read the entire release.

 

OSCUI spearheaded the computer donation, including identifying the credit union recipients. Through its consulting services to low-income, small, and newly chartered credit unions, OSCUI staff is well positioned to identify barriers that prevent credit unions from fully serving their members. More importantly, OSCUI staff is uniquely empowered to implement solutions to those barriers.

  

I just want to applaud NCUA for their "generous" donation of laptops to small credit unions under 10M.  This not only demonstrates NCUA's desire to help these credit unions become more efficient in the use of technology but also shows their concern for the earth's environment.  I'm sure this move will make both sides of the call report more efficient.  Thanks again!

 Olivia Bautista, Manager

Sunkist Employees FCU

 
Additional services OSCUI offers are training, grants and loans, partnerships, and outreach. If your credit union has need for such service, contact us at oscuimail@ncua.gov.

 

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Following are comments we received from the credit unions that received a laptop:

 

IntheNewsOSCUI in the News

  

CUNA News Now: NCUA's OSCUI advises CUs on grant applications

Credit Union National Association
The NCUA's OSCUI in the August edition of its FOCUS e-newsletter said that "preparing a grant application is similar to preparing a job application." It noted that...
 

NCUA Charters Lakota Federal Credit Union
NCUA News Release

NCUA's Office of Small Credit Union Initiatives will also provide assistance to the new credit union. Lakota Funds, a 26-year-old non-profit Community...
 

Pine Ridge Reservation in South Dakota Gets FCU Charter No. 2 for 2012
Credit Union Times
 
The NCUA's Office of Consumer Protection said it has approved the creation of Lakota Federal Credit Union, a low-income designated community credit union that will serve the approximately 40,000 people who live, work, worship, volunteer, attend school ...
 

NCUA Liquidity and LICU Webinars Available Online
Credit Union Times
 
Office of Small Credit Union Initiatives Director William Myers discusses the recent streamlined process for gaining LICU designation, which was included in President Obama's drought relief package...


NCUA Charters Internet Archive FCU
NCUA News Release

"As it grows, NCUA's Office of Small Credit Union Initiatives will offer assistance to help the credit union prosper. I congratulate everyone who worked to make...
 

NCUA Approves New Charter for Internet Archive FCU in New Jersey
Credit Union Times

"As it grows, NCUA's Office of Small Credit Union Initiatives will offer assistance to help the credit union prosper. I congratulate everyone who worked to make this great idea a reality," Matz said. As a low-income credit union, Internet Archive's...
 
 

NWCUA to Host Small to Mid-Size Credit Union CEO Roundtable in Conjunction with NCUA Workshop
Northwest Credit Union Association

Sept. 15 in Portland and Oct. 27 in Seattle are hosted by the agency's Office of Small Credit Union Initiatives (OSCUI), and registration is free for both events.
 

CUNA News Now: NCUA releases $1.4M in small-CU grants
Credit Union National Association

NCUA Office of Small Credit Union Initiatives (OSCUI) Director William Myers said the agency "made a concerted effort this year to make it easier to apply for ...
 

NCUA awards $1.4 million to small CUs | NAFCU
National Association of Federal Credit Unions

This year, NCUA's Office of Small Credit Union Initiatives rolled out a new, automated grant system that allows credit unions to apply for multiple initiatives...
 

NCUA Awards $1.4 Million in Grants to Small Credit Unions
NCUA News Release

The mission of the NCUA is to facilitate the availability of credit union services to all ... Myers, Director of NCUA's Office of Small Credit Union Initiatives (OSCUI).

 

NCUA Awards $1.4 Million in Grants to Small Credit Unions
CUinsight.com

More than 100 small credit unions across the country will improve service ... Director of NCUA's Office of Small Credit Union Initiatives (OSCUI).

 

Record Year Produces $1.4 Million in NCUA Technical Assistance Grants
Credit Union Times

... in technical assistance grants to more than 100 small credit unions after ... William Myers, director of the Office of Small Credit Union Initiatives

 

LICU Eligibility Added to Aug. 14 NCUA Liquidity Webinar
Credit Union Times

From 3 pm to 4 pm, Office of Small Credit Union Initiatives Director William Myers will discuss the recent announcement from NCUA about the streamlined...

 

TrainingSpace in 2012 free credit union training sessions still available

 

The 2012 workshop season is coming to a close.  Asset liability management and duties of federal credit union board members are two of the feature topics this year.  Click here to view the agenda, remaining dates and locations, and to register for these free trainings. 

 

Hawaii Workshop 2012
Participants at the August 11, 2012, credit union workshop held in Honolulu, Hawaii. The workshop was attended by 144 credit union staff, board members and volunteers.

 

OSCUI will announce the dates and locations of its 2013 workshops in this e-newsletter and on NCUA's website, once the details are finalized.

 

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ConsultingMarketing tips and techniques - Part IV

 

This is the last of four articles to help improve your credit union's marketing strategy.

 

OSCUI Economic Development Specialists (EDS) work one-on-one as consultants with credit union management to ensure their operation prospers. The EDS offer ideas to credit unions that promote operational growth.  In recent issues, we shared ideas on publicity, public relations strategies, and strengthening communications. In this final installment, we focus on best practices.  See the list below for our recommendations.

 

EDS Marketing Tips

Best Practices 

  • Define your niche! Know your members, focus on what you do best, and do it better than your competitors. Have a good understanding of what you are providing and what your members are buying and using.
  • Name a Marketing Committee, develop a policy and meet regularly. Your budget should include a reasonable amount delegated to marketing each month.
  • Have a goal! Know what you want to accomplish before you start planning your marketing. Develop a marketing calendar.
  • Plan for a different promotion each month - involve your members.
  • Expand your field of membership by adding and/or promoting family members, select employer groups (SEGs), investment areas or a community charter.
  • Offer new-member coupon, giveaway or raffle. Consider scratch off coupons with instant prizes.  First, check with state and local law in your jurisdiction.
  • Develop a member referral promotion, give gift cards to members who bring in X number of members.
  • Offer international remittances. Reach out to the unbanked.
  • Review other financial institution's promotions to gather ideas. What would appeal to your members? Print t-shirts listing your website.
  • Develop loan programs where decisions are made within hours.
  • Connect working families to powerful tax benefits and put money back into their pockets and the community such as the Volunteer Income Tax Assistance (VITA) Program.
  • Create a cross-selling incentive program for staff. Consider alternatives such as selling by phone.

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PartnershipsSave the date - OSCUI co-sponsors IDA webinar

 

On Oct. 22 at 1 p.m. [EST], OSCUI will co-sponsor a webinar on individual development accounts (IDAs) with the U.S. Department of Health and Human Services (HHS).  .  The webinar will focus on the Assets for Independence (AFI) Program administered by HHS.  This free, educational webinar has been tailored to credit unions and will emphasize various roles they can have in participating in an AFI Program to benefit their low-income members and potential members; and provide an overview of the application process and assistance available to credit unions interested in participating.  Additional details will be announced as they are finalized.

 

 

Timing of the webinar parallels the opening of the 2013 funding cycle of the AFI grant program.  HHS, through the AFI Resource Center, is accepting funding applications for 2013. Applications may be submitted throughout the year for funding in three cycles during 2013. The application deadline for each cycle is:

 

Winter - January 25, 2013

Spring - March 25, 2013

Summer - May 24, 2013

 

For more information, click here or contact the Assets for Independence (AFI) Resource Center at info@idaresources.org or 1-866-778-6037.

 

All credit unions may serve as a financial institution partner to or a subgrantee of an existing AFI project.  Low-income designated (LID) credit unions are eligible to be grantees under the AFI program.  Click here to learn more about the LID and the benefits to credit unions of having this designation.

 

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happeningHappening in OSCUI

  • We are accepting applications for the 2012 loan program. Credit unions may apply for a five year, $500,000 balloon note with an interest rate of 0.40%.
  • We conducted five training workshops last month. Approximately 340 credit union officials and board members attended the workshops. To view the upcoming events, the agenda, dates, locations, and to register please visit: http://www.ncua.gov/Resources/CUs/Dev/Pages/Events.aspx OR call OSCUI's automated training line at (703) 518-1620. From the phone line you can also receive instruction on requesting travel reimbursement.

Got a good story? Email us! Tell us about your credit union's experience with an OSCUI program at oscuitraining@ncua.gov.

 

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announcementsAnnouncements

 

Training

Grant Writing Workshop: The U.S. Department of Housing and Urban Development (HUD) sponsors these workshops throughout the country. Participants receive instruction on how to compete and apply for federal grant funds

 

September 25: Marcy Town Hall, Marcy, NY

Registration:

http://www.hud.gov/emarc/index.cfm?fuseaction=emar.addRegisterEvent&eventId=1512&update=N

 

September 27: Bethany Baptist Church, Syracuse, NY
 
Phone: (315) 446-5080

Registration:

http://www.hud.gov/emarc/index.cfm?fuseaction=emar.addRegisterEvent&eventId=1449&update=N

 

September 27 & 28: Milwaukee, WI
 
Contact: Sonya Medina, (414) 935-6604

Registration:

http://www.hud.gov/emarc/index.cfm?fuseaction=emar.addRegisterEvent&eventId=1481&update=N

 

October 4, Tribal Economic Resource Forum (TERF): Sponsored by HUD, this interactive forum will provide contacts and resource information for tribes and tribal entities engaged in economic development. More than 20 agencies and organizations will present economic resources available for Native American communities. The forum is free but pre-registration is required. Open to those working with tribal economic development, primarily in Arizona.

Location: NAU - Phoenix Campus, Phoenix, AZ
Contact: Kristine Firethunder, kfirethunder@az.gov or (602) 542-4421

Information: http://www.hud.gov/apps/calendar/event.cfm?state=az&record=12528&scheduleID=12273&calendarID=6 

 

Studies / Research

Every American Financially Empowered: The Obama Administration offers this resource guide to help educators, community leaders and others teach Americans to better understand and address basic financial matters. The guide encourages the formation of partnerships to promote financial education and economic inclusion.  Click here to read the guide.

 

Consumer Financial Protection Bureau Seeks Feedback on Education Programs: The U.S. Consumer Financial Protection Bureau (CFPB) published a request for information regarding Effective Financial Education. Comments are due by October 31, 2012.  Click here for details.

 

SEC Issues Financial Literacy Study Mandated by the Dodd-Frank Act: Is a study that:

  • identifies investor perceptions and preferences about a variety of investment disclosures;
  • outlines best practices for investor education programs; and
  • includes a strategy to improve the financial literacy of investors, which was developed in consultation with the Financial Literacy and Education Commission of the U.S. Department of the Treasury.

Click here for the announcement and link to the study.

 

"Building Better Savings Products": was a forum recently hosted by New America Foundation. A panel of experts discussed the U.S. savings product marketplace to discuss product innovation and strategies to help lower-income Americans access safe and affordable savings opportunities. Click here to view the webcast.

 

"Teaching Youth to Save": is a package of resources from America Saves, to help promote financial education campaigns in your community. Click here to download the documents.

 

MythBusters: Payday Lending Version: This blog by the New America Foundation discusses the results of the Pew Charitable Trusts' survey of "thousands" of payday loan borrowers. Click here to read the study.

 

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NATIONAL CREDIT UNION ADMINISTRATION
The Office of Small Credit Union Initiatives
1775 Duke Street, Alexandria, VA 22314