Soak up that last bit of summer fun, because after that, the mad dash toward the holidays begins. That means gift giving season as well.
Now is the time to make sure you have plenty of LSC® Holiday Gift Cards on hand to help your members take care of everyone on their lists quickly and conveniently. Gift cards are also ideal for SEGs and they make great incentives and holiday gifts for your own staff.
To make it even easier to offer your members gift cards and save, LSC has an early Holiday gift for you! Simply sign up by November 15th, 2017, and you’ll receive your first 50 Holiday gift cards for free, including the shipping!
Plus there’s no implementation or annual fees to your credit union when using cards with the standard logo. LSC handles all back-office operations. You set your own retail price!
LSC invites you to a free webinar to learn more about the gift card program and the gift to you! To register, just click the date and time below that works best for your schedule:
We look forward to having you join LSC to see how Holiday gift cards benefit your members and your credit union!
Your credit union members can take advantage of even more savings from Sprint! Sprint has great deals for shoppers gearing up for the new school year – or for any shopper just looking for a great price on wireless devices.
In addition to countless offers on smartphones, Sprint is serving up a great offer on tablets, including a free Samsung Galaxy Tab E on them!
The deals keep adding up with five lines for $90 on the Unlimited plan. Plus, these promotions can be combined with Sprint Credit Union Member Cash Rewards.
Here’s how the Sprint Credit Union Member Cash Rewards program works:
- Members get a $100 cash reward for every new line they activate with Sprint.
- Current Sprint customers will receive a $50 cash reward for every line transferred into Sprint Credit Union Member Cash Rewards.
- Plus, participants get a $50 loyalty cash reward every year, for every line.
Enroll your credit union today! Visit LoveMyCreditUnion.org/PartnerCenter for details and to access all-new, FREE marketing materials to promote this offer.
How your members can sign up for Sprint Credit Union Member Cash Rewards:
- Become a Sprint customer and mention they’re a credit union member.
- Register at LoveMyCreditUnion.org/SprintRewards or in the Love My Credit Union® Rewards app.
- Your members will see their cash rewards directly deposited into their credit union account within six to eight weeks.
Bring even more value to your members by encouraging them to take advantage of these huge savings from Sprint today!
Stay Strategic for Stronger Planning
Strategic planning is both an obligation and an opportunity. Credit unions who plan well and execute well are the ones you read about today … growing faster, staying more relevant and becoming financially stronger. What makes one credit union’s plan better than another? Often, it is about how you plan as much as what you plan.
Here are four ways to achieve more out of your planning process:
- Stay Strategic! I have had the opportunity of working with organizations for more than 30 years in their planning processes. What I’ve observed is that our comfort lies in tactics over strategy. As a result, efforts drive to shorter term results. The key to great strategy is to stay strategic. Drive the conversations and planning efforts at true long-term strategic initiatives (at least three years in the future) before you focus on the short-term strategies and tactics to achieve those goals.
- Focus on fewer strategic initiatives. Once you gain momentum around your strategic focus, ensure you don’t take on too much. You will achieve far more with three-to-five strong initiatives to drive greater results. Your resources (talent, time and money) will achieve a greater return on their investment with a few strong, high-impact initiatives.
- Prioritize tough. Not only is it important to focus on fewer initiatives, but they must be prioritized to achieve best results. This allows you to make tough decisions when resources become tighter, and you want to achieve better results. Create a simple scoring system to prioritize all activities and to be consistent with how you measure their importance.
- Execute well. Now is the time to focus on the right strategies and tactics that will help drive results on your most important initiatives. Develop a solid plan with clear timelines, roles and responsibilities. Ensure that managers and leaders are accountable for continuous progress to milestones and results through a cadence of review meetings and reporting.
As a final note, teach your teams about leading indicators (true drivers of results), so they can understand how the right actions lead to your desired results. Effort doesn’t guarantee results. However, strategic activities, tied to the right measures, will help you achieve more.
Study: Digital Transformation Recognized as Top Need by Credit Union Leaders
CO-OP Offering Research Studies, White Papers and Webinars to Help Meet Operational, Member Service Challenges of Digitalization
CO-OP Financial Services recently announced a free download of its proprietary research study, Digital Transformation, designed to help credit union leaders understand current industry perceptions, challenges and plans for the digital age.
“CO-OP is committed to helping our industry meet digital transformation challenges,” said Todd Clark, President and CEO, CO-OP Financial Services. “Credit unions are facing increased competition from digital startups and they must transform their processes and infrastructure to meet the needs of digital natives. You can’t make good decisions without good data, so we are offering research studies, white papers and webinars on how today’s consumers are digitally engaging with their financial institutions.”
The Digital Transformation study is based on research by David Rogers, author of “The Digital Transformation Playbook.” Rogers queried 221 credit union leaders on five strategic areas – consumers, competition, data, innovation and value – and identify barriers to change. Survey highlights include:
- 88% of respondents say digital transformation is extremely or quite important.
- 73% say their credit union is planning to increase budgets for digital initiatives in the next year.
- Respondents identified the following digital brands as setting the gold standard for a great digital experience: Amazon (No. 1), Google (No. 2), Facebook (No. 3) and Apple (No. 4).
- Relative to these brands, nearly half of respondents felt the experience provided by their credit union was inferior or far inferior, while 44% rated the experience as “good, but not quite as good,” and 10% felt that their credit union was “meeting the high standard they set.”
- Leading barriers to digital transformation cited by respondents: 1) Lack of budget/resources (59%); 2) Inability to innovate quickly and effectively (53%); 3) Tied to a legacy IT infrastructure (39%); and 4) Lack of technology capabilities among staff and outside partners (39%).
Additional Research and Learning Opportunities from CO-OP
The Digital Transformation study is the second in a series of research papers CO-OP is presenting. The first report, Jobs to be Done: A Roadmap to Consumer-Centric Innovation, details the results of banking consumer survey on the experience members really want from their credit unions. A third publication, surveying change management, will be available in September.
Credit union staff can register immediately to attend the webinar, Digital Transformation: How to Get Started, scheduled August 16 at 11 a.m. PT. The event will provide insights on how credit unions can begin their digital transformation journey, with organizational examples both in and outside the industry. A white paper providing further guidance on how to get started will be made available following the webinar.
“CO-OP is going through its own digital transformation, so it is a journey in which we are joining as well as supporting our clients in the pursuit of making the customer experience seamless and secure,” said Clark.
Named World’s Most Ethical Company®
Ethisphere® Institute, a global leader in defining and advancing the standards of ethical business practices, again named CUNA Mutual Group to their list of the World’s Most Ethical Companies®.
CUNA Mutual Group has received this honor four times in the past five years, and it is one of only seven recipients in the Financial Services category, underscoring the company’s commitment to leading ethical business standards and practices.
“World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC.
Experience the Freedom of the Perfect Fit
When you find that flawless pair of jeans, or have a suit tailored so it fits you just right, it’s a wonderful feeling. You’re suddenly more confident, and you stop looking for something superior because you know it’s a fruitless search.
That’s the same feeling clients and job candidates get when they find their perfect fit professionally. When it’s a match between the two, it’s like kismet, and everyone is satisfied. And that is so freeing. But how does one make that happen?
Perfecting the Art of Matchmaking
Ideally, it comes down to matchmaking - vigorously recruiting top talent and meticulously combing through applicants to find the best fit for your particular needs. In 25+ years of recruiting, JMFA can positively say that finding the perfect match is really an art form. Experience and skills are only part of the puzzle. But if you hire solely based on those factors, you’re in for a disappointment—and a hefty loss.
The costs of a bad hire can range from $152,000 to $220,000 and impact multiple cost centers in an organization, according to a recent article from The National Business Research Institute. Further, of the companies reporting bad hires, 37% cited a negative effect on company morale and 18% saw a negative impact on client relations.
Making a great hire is like choosing a life partner. Here are a few questions they suggest you ask during the interview or evaluation process:
- Does he/she have the personality to fit in with other team and department members?
- Can the candidate maintain the required amount of composure and confidentiality for the job?
- Does this person have interest in advancing within the company? Do they have growth potential?
- What drives them to succeed?
- What successes (not job promotions, but real results) have they achieved?
- Can the individual transition into the company’s overall culture and add positively to it?
- What unique quality can this candidate bring to us that no other candidate can?
Additionally, JMFA has found that several other subtleties during interviews - and within each open position - can help determine the golden match.
Additional Expertise and Getting Results
Should you decide to outsource your search, the goal is not to simply make the perfect hire. Rather, it should be to work with a recruiter who has industry experience and a consistently successful track record, someone who can be your “go-to” when you need talent.
Hiring an industry-experienced and niche-focused recruiter has paid dividends more than once when a local search firm couldn’t find the necessary talent. Your recruiter should be a trustworthy and reliable resource when a position needs to be filled. A comprehensive approach highlighted by a known talent pool and the ability to match both skills and personality will absolutely be a difference-maker in your success.
The takeaway of all this? Not just any recruiter will do. Make sure your recruiter is a perfect fit for your company, and it will pay off exponentially when it comes to finding the talent you need.
Experience the Freedom
The biggest benefit of a perfect fit is that all involved can live in the present and work focused on the future. With talent secured, you’ll be able to confidently start working on reaching the organization’s strategic goals. And candidates, rather than just settling into a job, can start building their career for the long-term. In a world where everyone is on the hunt for the next best thing, realizing satisfaction when it knocks on your door and embracing it allows for the freedom to focus on the present and live intentionally.
More Ways Your Credit Union Can Team Up With Sprint
We’re excited to announce new ways your credit union can partner with Sprint. Three new Sprint Partnership Request forms are now available in the Sprint Marketing Materials section of the Partner Center that can help your credit union drive new membership and grow the Sprint Credit Union Member Cash Rewards Program.
The new partnership request opportunities include:
- Community Event Partnership - If your credit union is involved in an upcoming community event, you can invite Sprint to join you.
- Credit Union Membership Drive at a Local Sprint Store – Your credit union can connect with a local Sprint store near your branch(es) to increase your credit union membership and promote the Sprint Credit Union Member Cash Rewards program at a Sprint retail store.
- Credit Union Branch Lobby Event - Your credit union can request a Sprint representative to visit your credit union branch(es) to help promote the Sprint Credit Union Member Cash Rewards program and answer any questions regarding Sprint offers and equipment.
By utilizing these new partnership opportunities, your credit union can build a deeper relationship with your local Sprint store, increase your membership base and enhance your program success in the Sprint Credit Union Member Cash Rewards program, bolstering your marketing reimbursement.
TruStage® Simplified-Issue Term Life Product Gaining National Recognition
According to the Life Insurance and Market Research Association’s (LIMRA) Life Insurance Barometer Study, one of the top barriers to purchasing life insurance is that it’s not available to purchase online.1
In CUNA Mutual Group’s effort to make insurance more accessible, we addressed this challenged by developing a TruStage® simplified-issue term life insurance product. In a recent Forbes.com article titled, “Using Advanced Tech to Provide Life Insurance Online in Minutes,” noted that TruStage, “has written more than $500 million in policies in less than a year … winning a Model Insurer Award from Celent, the financial technology research group.”2
TruStage is one of the first-to-market in the industry with a term life insurance product that consumers can purchase completely online. Rates start as low as $3.65/month, and consumers can purchase face amounts between $5,000 and $100,000 to provide protection for home mortgages, children's’ education, income replacement or final expenses.
1 - LIMRA, 2015 Insurance Barometer Study, 2 – Forbes.com, July 19, 2017
Tina’s Story: "Your Program has been a blessing in my life. So grateful my credit union suggested this to me."
We all want to live with purpose and impact lives. Our credit unions live this every day!
Meet "Tina". She contacted GreenPath in 2013 when she finally reached a point of no return, only being able to make minimum payments on nearly $20,000 in credit card debt.
She gave them some goals:
- Eliminate her credit card debt
- Maintain good credit
- Stay current on rent
- Establish an emergency savings fund
- Save extra money to pay towards student loans when they become due in 3 years
- Save extra money to buy health insurance
Fast forward to May 16, 2017, when her final payment for her credit card debt went out. Tina didn't hesitate to let GreenPath know how she felt in her survey:
"Your program has been a blessing in my life. So grateful my credit union suggested this to me. My credit score is better and I feel more free without the financial burden of credit card payments. Thank you!!!"
She didn't stop there:
"I just wanted to send a very heartfelt thank you to your team!! I filled out the survey but wanted to say thank you directly as well. GreenPath has been a blessing in my life and reaching my goal to pay things off is powerful and makes me proud. Thank you for what you do! GreenPath Rocks!!!!"
Tina was empowered through her credit union to take control of her life. She won't forget that and she won't forget her credit union.
Gandhi said, "Be the change you want to see in the world." Join GreenPath in Remixing the American Dream so it works for everyone!
Come learn with us and jump-start your success with interactive webinars featuring cutting-edge information from experienced facilitators that help you understand not only product details but how to achieve financial success, reduce your risks, and better serve your members.
To register for any of these webinars, please go to https://www.cunamutual.com/resource-library/webinars.
9/14/2017 10:00 AM (CT)
Empowerment and Goals in Action: Run Your Race
Goals. . . you have them, but are you taking action to achieve them? Define, implement, and achieve your credit union, branch, and employee goals through positive, proactive accountability.
9/19/2017 10:00 AM, 2:00 PM (CT)
Member Focused Conversations: Guide with Confidence, Part 1
Members are looking for someone to provide them financial guidance. Even if your members are doing well right now, the unexpected can have an immediate impact on their financial well-being. Part 1 focuses on helping your member feel the impact through a Money Game as they make difficult decisions during an already tough time.
9/20/2017 10:00 AM (CT)
Cybersecurity Trends and Tips
Fraudsters, hackers, and bad guys don’t care about your credit union. It’s not personal, it’s their business. Gain key insights into some of the latest cybersecurity trends and learn what you need to do to assess threats and protect your sensitive data.
9/20/2017 10:00 AM, 2:00 PM (CT)
Member Focused Conversations: Guide With Confidence, Part 2
Go the extra mile. Part 2 focuses on using consultative questions and a consistent process to provide your members with personalized solutions. Be committed to being your members' trusted financial consultant. If you don't take the opportunity to guide your members, they will look elsewhere for the guidance they need.*
9/21/2017 10:00 AM, 2:00 PM (CT)
Member Focused Conversations: Guide with Confidence, Part 3
Part 3 builds on what you learned about a member focused conversation and takes it to a new level. You won't simply present benefits, you'll personalize them, helping your members to see the value and why payment protection is so important. . .to them!. Go the extra mile.*
9/28/2017 10:00 AM, 2:00 PM (CT)
Addressing Concerns: Close the Case
What if the member asks a question or raises a concern? Don't let this question stop you any longer from educating your members on payment protection. Confidently address four common member questions and concerns related to payment protection.*