ICUL News & Events: Celebrate International Credit Union Day October 21

Celebrate International Credit Union Day Next Thursday, October 21

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Each year, International Credit Union Day brings people from credit unions all over the world together to celebrate the history of the cooperative movement and its impacts to communities across the globe. International Credit Union Day is coming up on October 21, and we hope your credit union will celebrate.

Here are a few ideas to get you started:
  • Get active on social media and engage with members - use the hashtags #IowaCreditUnions, #TellYourCUStory and #ICUday
  • Submit a credit union story at growingiowa.org
  • Use this day to complete Random Acts of Kindness around your community
  • Host a virtual fundraiser to benefit a local non-profit

The World Council of Credit Unions is hosting a webinar about "Building Financial Health for a Brighter Tomorrow" to examine financial health and all of the complexities associated with that term for credit unions and their members. Learn more and register here.


Callahan & Associates Releases Q2 Performance Summary

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Economically, the second quarter of 2021 was the most encouraging quarter since the onset of the pandemic. Substantive balance sheet expansion indicates credit unions successfully met the needs of their members during a difficult year. Institutions adapted their staffing models, product offerings, and revenue streams to meet shifting member demand and market needs.

Over the past year, Iowa membership expanded with total members climbing to 1.4 million as of June 2021. Over the past five years, Iowa credit unions exceeded industry penetration rates in multiple areas because of performance in key market segments such as auto lending, credit cards, and mortgages.

Callahan & Associates released its Quarterly Performance Summary for mid-year 2021, which compares Iowa credit unions to credit unions nationally and banking competitors.

ICUL members have access to Callahan & Associates data to analyze and compare credit union statistics. Please contact ICUL Member Services Consultant Jodi Allen with any questions.


Convention Recorded Sessions Expiring Tomorrow

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All convention registrants have access to recorded sessions through the convention app and virtual platform. Access to these session recordings will expire tomorrow, October 15, when they will be removed from the app and virtual platform.

Having trouble accessing the app or platform? Email support@iowacreditunions.com.


October is National Cooperative Month

Co-op Month
To celebrate National Cooperative Month, ICUL partnered with the Iowa Institute for Cooperatives and the Iowa Association of Electric Cooperatives on a Co-op Month campaign to raise awareness about the positive impact of the cooperative movement in Iowa. To kick-off the month, Governor Reynolds proclaimed it “Cooperative Month” in Iowa. Click here to read the full proclamation. In addition, ICUL CEO and President Murray Williams co-authored a guest editorial in the Des Moines Register.

Other components of the campaign include coordinated social media graphics and a digital ad campaign that all lead to a new landing page at iowacooperatives.com. Click here to view and download graphics for use on your credit union’s social media platforms.


National Credit Union Foundation Announces $100K Grant to Support Credit Union Diversity and Financial Health

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The National Credit Union Foundation (NCUF) has announced a $100,000 grant to help smaller credit unions analyze membership demographics and better understand the roles culture, race and ethnicity play in financial well-being. Credit unions composed of 10 or more employees with assets between $100 million and $600 million are eligible to apply for the grant.

Successful applicants will have the opportunity to use two of Coopera’s inclusion tools and partner with Attune to measure employee and member financial health and receive data-driven insights to steer strategic planning and product development. Click here to learn more.


Legal Tip: Reporting Suspected Elder Abuse

BHM Legal Tip Video Screenshot

A credit union may report suspected financial exploitation of a dependent adult by contacting the Iowa Department of Human Services Dependent Abuse hotline at 1-800-362-2178. Click the video to learn more.

Red flags include:

  • A member routinely withdrawing $100 on Fridays now comes in more frequently, withdrawing $500-$1000 each visit.  
  • Wire transfer requests with no previous history.
  • A member who usually conducts business alone now allowing someone else to speak for them.
  • Withdrawals using an ATM card, when the member did not previously use an ATM card.

The DHS checks the Central Abuse Registry for any prior or similar reports concerning the same individual, allowing community collaboration between medical providers and other financial institutions who may report similar concerns. The DHS will notify the county attorney to evaluate the reports. Visit the Iowa Department of Aging for more resources at iowaaging.gov.

Questions? Contact Barker, Hodgson & Miller, P.C. attorneys Elizabeth Hodgson or Julie Buenzow.


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