SPRINGFIELD, Illl. - The Illinois Credit Union League (ICUL) has kicked off its participation in the REAL Solutions program with two introductory meetings at its office here at which approximately 100 CU reps were in attendance. The sessions were led by Lois Kitsch, REAL Solutions program director, and Mark Lynch, field coach. REAL Solutions is a program of the National Credit Union Foundation, with the “REAL” standing for “Relevant, Effective, Asset-building, Loyalty-producing” Solutions. Through the program, credit unions can choose from up to 20 in the areas of education, transaction services, savings, credit, and home ownership products or services, they can offer that have proven successful in serving people of modest means, working families, and “low wealth” households.
Twenty-nine Illinois credit unions have signed a memo of understanding, which means they have indicated their interest in moving forward and participating in the program. With the introductory sessions finished, diagnostic meetings are currently being individually held with each of the participating credit unions. Those meetings entail discussions with Lynch to determine the credit union’s interests, what they may already be offering that could be applicable under the REAL Solutions umbrella, and picking the top three products credit unions would be interested in offering as part of the program. The diagnostics are scheduled to be completed over the next few weeks.
Subsequent to the diagnostics, a series of partners meetings, where participating credit unions meet as a group or groups, depending on the number of different products or services the credit unions are interested in, will be held by ICUL. The consultation period with REAL Solutions staff lasts approximately nine months, at which point ICUL and the ICU Foundation will take the lead in helping credit unions roll out their REAL Solutions initiatives, the league reported.
