Growth strategies

WASHINGTON – Saying it is time credit unions take even greater advantage of a cultural shift away from big banks, CUNA President Bill Cheney urged CUs to begin telling one story thousands of times.

The surge of membership resulting from Bank Transfer Day is good news overall, but it has not done much to lower the overall age of members.

Dennis Dollar said he has not participated in a single strategic planning session at a credit union over the past three years during which the issue of an aging membership hasn't been discussed.

The pressure on margins and multiple threats to non-interest income require that credit unions get better at understanding what each member brings to and takes away from the cooperative, according to one expert on data analysis.

As numerous CUs have learned over the years, letting members tell the credit union's story can be some of the strongest marketing the organization undertakes.

Credit unions that offer financial wellness programs to help their employees combat financial stress can boost their bottom lines in multiple ways.

Credit unions of all assets and locations share one thing in common: it's imperative that they grow. That's why Growth will be the only item on the agenda at Credit Union Journal's Grow Show 2013, which is now set for May 29-31 in Orlando.

GTE Financial here saw a nearly 800% increase in its viral reach during its "Lucky 13" awareness campaign.

For $14,000 in member incentives, Ohio Healthcare FCU increased loan growth by 20.3% last year, and that's after a 2011 during which it grew loans 8% year over year.

Consumers are indicating a preference for obtaining personal financial management (PFM) services from their primary financial institution.

GLENDALE, Calif. – Glendale Area Schools FCU has signed with INVEST Financial Corp. to provide its members with brokerages and investment services.

LOUISVILLE, Ky. – Ben Rhodes, a 16-year-old NASCAR race car driver on the rise, has signed an endorsement deal with Park Community FCU.

SANTA ANA, Calif. – SchoolsFirst FCU, with $9.4 billion in assets, will pick up three branches in suburban Los Angeles with the merger of All Valley FCU, a one-time $95-million teachers credit union that NCUA designated as in poor financial condition.

PLYMOUTH, Mich. – NCUA on Friday said it approved Community Financial Community FCU’s bid to convert to a state charter serving almost 6 million people in 23 Michigan counties, the broadest community charter ever granted a credit union.

ALEXANDRIA, Va. – The NCUA Board this morning added Treasury Inflation Protected Securities, Treasury securities indexed to the rate of inflation that are known as TIPS, as permissible investments for federally chartered credit unions.

LOUISVILLE, Ky. – L&N FCU has signed with INVEST Financial Corp. to provide its members with brokerage and investment services.

DOWNEY, Calif. – Financial Partners CU has launched its social media presence on Facebook (facebook.com/FPCUca) and Twitter (twitter.com/FP_CU).

FRANKFORT, Ky. – Commonwealth CU has contracted with INVEST Financial Corp. to provide its members with brokerage and investment services.

GRAND RAPIDS, Mich. – A retired Grand Rapids police captain was greeted by the Michigan CU League’s “Prize Squad” with a $10,000 check this morning, as one of 10 of this week’s grand prize winners of the Save to Win savings sweepstakes.

KEARNEY, Neb. – An Eaton Corp. retiree and his wife were named winners of the Nebraska CU League’s first Save to Win savings sweepstakes, a $25,000 grand prize.