TCUL contents - Cornerstone Credit Union League

Transcription

TCUL cover_build.qxp
3/30/06
L
2:23 PM
Page C1
NESTAR
Perspectives
The Official Publication of Texas Credit Union League
Spring 2006
Diversity
The Impact on Texas Credit Unions
Immigrants: Your Future Savers, Borrowers and Investors
|
Small Credit Unions and the Challenges they Face
Financial Design
3/27/06
5:30 PM
Page C2
TCUL contents
3/30/06
10:37 AM
Page 1
Contents
TEXAS CREDIT UNION LEAGUE
EDITORIAL
Managing Editor, Linda Webb-Mañon,
Associate Editor, Allison Castle
Contributing Writer, Allison Griffin
Contributing Writer, Lucinda Rocha
ADVERTISING
Advertising Sales Director, Rick Grady
Account Executive, Tom Hodge
Advertising Design Director, Steve Stovall
14
BUSINESS
Chief Operating Officer, Bob Gallman
Communications Administrator, Mikki Stokes
Subscription Coordinator, Sue Epperson
HOW TO REACH US
Mail
4455 LBJ Freeway, Suite 1000
Farmers Branch, TX 75244-5998
e-mail: [email protected]
Web site: www.tcul.coop <http://www.tcul.coop>
Main Office: (469) 385-6414
(800) 442-5762, Ext. 6414
Editorial: (469) 385-6486
Advertising Sales: (469) 385-6485
Advertising Design: (469) 385-6473
Subscriptions: (469) 385-6483
Letters to the Editor: [email protected]
LoneStar Perspectives is a quarterly publication of the
Texas Credit Union League (TCUL) and is offered to
TCUL-affiliated credit unions as a dues-supported service.
If you are not an employee or volunteer of a League-affiliated credit union and would like to subscribe to this publication, an annual subscription rate of $20 is available.
LoneStar Perspectives is a trademark used herein under
license. Copyright 2006 by Texas Credit Union League.
All rights reserved.
FEATURES
14 Immigrants: Living in the Shadows
of Financial Mainstream.
These are your future savers, borrowers, and Investors.
By Linda Webb-Mañon
18 Diversity On The Board
A critical issue facing organizations today with volunteer boards.
22 Choate, Arnold
The latest inductees into the Texas Credit Union Hall of Fame.
MAGAZINE PARTNERS
DIRECTOR of CUSTOM PUBLISHING
Kristen Bohn
ART DIRECTORS
DEPARTMENTS
2
Brian Smith
Kelly Ryan Murphy
3
BUSINESS DEVELOPMENT DIRECTOR
4
Lindsay Thomas
ACCOUNT SERVICES DIRECTOR
Shaneen Romero
HOW TO REACH US
4311 Oaklawn Avenue,
First Floor, Dallas, Texas 75219
www.magazine-partners.com
214.939.3636
LONE STAR PERSPECTIVES IS DESIGNED BY MAGAZINE
PARTNERS, 4311 OAK LAWN AVENUE, DALLAS, TEXAS, 75219.
COPYRIGHT 2006 BY LONE STAR PERSPECTIVES.
ALL RIGHTS RESERVED.
Products and Services
News: Marketplace Trends
Charting a New Path. By Allison Griffin
8
News: Advocacy
Bill Power. By Allison Castle
10
Philosophy in Action
The Truth Behind Addictions. By Linda Webb-Mañon
PREPRESS COORDINATOR
Chris Mulder
12
Electronic Payments. By Scott Wagner
PRODUCTION MANAGER
Missy Saunders
Letter from the Chairman
By Robert Sheppard
12
Empowered. By Curtis Collins
24 Professional Development
Achieving Goals. By Lucinda Rocha
25 Professional Development
Focus on Education & Training. By Tonya Farmer
26 Small Credit Union
Working Together. By Allison Castle
28 Small Credit Union: Operations
The Right Stuff. By Paul Montoya
29 Regulatory
The Basics. By Christiane Gigi Hyland
32 The Roundup
SPRING 2006 ★ TCUL
1
TCUL chairman letter
3/30/06
2:25 PM
Page 2
Robert Sheppard
Chairman, TCUL Communications Advisory Committee
What a pleasure it is to work with the communications
“Dynamic Trio” of Linda Webb-Mañon, Allison Castle and
Allison Griffin. Their team work and organizational skills are a
pleasure to observe. This is an exciting time for the Communications Advisory Committee, comprised of Vice Chair James
Boyd, Mark Arnold, Kathy Crim, Kim DeLeon, Susie Habegger, Sheleah Hughes, Ross Irvin, Pam Rohus, Gary Williams,
John Worthington, and Barbara Stephens.
We hope that you enjoy this new publication, which is
the product of many hours of research, discussion and
brainstorming. Our objective is to put into your hands a first
class magazine on a quarterly basis. Our focus will be on the
issues that matter to all credit unions. Our desire is to provide
you with information that is both timely and interesting.
Whether you are looking for updates on legislative issues,
guidance on regulatory requirements, hints on perfecting
your operations, or highlights about credit union heroes, this is
your magazine. This is a forum for sharing information and
front line stories to benefit all Texas credit unions.
We hope that you find value in this new publication and look
forward to hearing what you think.
With kindest regards and best wishes, I am
Your friend,
2
TCUL ★ SPRING 2006
TCUL products
3/27/06
1:53 PM
Page 3
By Scott Wagner
Executive Vice President of TNB Card Services
Products and Services
Electronic Payments
Looking into the Future
T
HE PAYMENTS INDUSTRY HAS SEEN DRAMATIC
changes in the last few years with the decline of
paper-based payments such as cash and checks and
an increase in electronic payments. Paper based
payment volume has declined a total of 21 percent over the
last several years while electronic payment volume has
increased by 47 percent. Electronic payment volume
accounts for almost half of the total payment volume today
and will increase dramatically over the next several years.
The explosive growth of new payment options has impacted
the way consumers prefer to pay today and will continue to do
so in the future. Ranging from everyday shopping, paying
utility and mortgage bills, to online shopping and purchases at
quick service restaurants, consumers are using a wide array of
electronic payment options. Consumers are increasingly
using, and merchants are accepting, credit cards, debit cards,
gift cards, and prepaid cards for their everyday transactions.
The new generations of maturing consumers want easier
and faster methods of paying their bills so tomorrow’s payment products will not be card based alone, but instead may
originate with a cellular phone, personal digital assistant, key
fob or MP3 player. Younger consumers have grown up around
electronics and are accustomed to the high-tech world, so they
will expect credit unions to offer and support more technologically advanced products in order to win their business.
The payment options that will develop rapidly and be most
in demand will be those that benefit both the merchant and the
consumer. Contactless cards are a great example of this kind of
innovation. Consumers like using this product because it
speeds up and simplifies the payment process. Retailers understand that contactless cards expedite checkout lines and people
tend to spend more when they make purchases using cards.
We will also see an increasing emphasis on using payment
products in non-traditional segments such as the healthcare
industry. Health Savings Accounts and Flexible Spending
Accounts are two examples of card-based solutions that leverage established point of sale networks for routing healthcare
payments. The authorization networks ensure patients are
registered participants within an active healthcare plan. These
products leverage existing payment infrastructures to drive
new and valuable efficiencies into the healthcare system.
The challenge for the industry will be to provide new payment options, like those mentioned above, in a secure environment. The technology to support new payment options will
require credit unions to employ more sophisticated tools to
manage the complex payment systems and growing risks. Each
new payment product offers criminals a new opportunity to
defraud your credit union and your members. With convenience driving the payment choice for most consumers, credit
unions must find a way to balance security and ease of use.
Security programs like neural networks provide the best
protection when managed by professionals who understand
the intricate relationships between valid transactions and
those that may be fraudulent.
Industry-wide fraud currently represents only five to six
basis points of total credit card sales volume and continues to
decrease (as a percent of sales) as more and more preventative
tools are deployed. While this is a small percentage of total
sales, it is a problem that must be addressed consistently and
aggressively as the volume of electronic payments grow. Techniques like phishing, pharming, and skimming are causing
many restless nights for security managers worldwide. And
recent security breaches and escalating reports of ID theft
have consumers questioning the safety of their personal data
more than ever. These increasing occurrences of data compromise are certain to garner support for legislative action
that could change the way payments are processed and the
way cardholder information is managed and stored. Future
payment products will bring new levels of security to credit
unions and their members. Biometric readers embedded
within a card are one such example.
All of these new security technologies and products will
require a more complex infrastructure that not all payment
servicers will be equipped to manage effectively. Some credit
unions do not have the scale, necessary technology or personnel resources to mitigate these issues, so choosing a payment
provider that can provide this expertise is critical to them
meeting future business objectives. Payment processors must
be able to offer credit unions the risk management tools and
personnel expertise to address these issues.
Consumers are demanding more diverse payment options
that are easy to use and convenient while providing higher levels of security for their personal information. In order to remain
competitive, credit unions must focus on the broader payments
industry and expand their value proposition beyond just credit
and debit. At the same time, they need to manage their fraud
exposure using state-of-the-art systems. As the electronic payment landscape continues to evolve and gain speed, credit unions
must identify a partner who can provide these new types of products and help them remain competitive in the marketplace. ★
3
TCUL challenges & opps
3/28/06
11:55 AM
Page 4
News
By Allison Griffin
Contributing Writer
MarketplaceTrends
Charting a New Path
The Challenges and Opportunities of a
Growing Field of Membership
I
T ’S BEEN NEARLY 100 YEARS SINCE THE FIRST CREDIT
Union was born in the United States. Founded so people
from all walks of life could pool their resources and have
access to financial services, credit unions were built
around select employee groups—or SEGs. Back then, it
was easy to connect with the membership. After all, members worked at the same factory or attended the same
church, and with many credit unions located right on site,
it was nearly impossible for members NOT to know about
their financial institution.
4
Fast forward to today’s fast-paced, multi-media society.
Even as credit unions have grown and diversified to meet
the demands of America’s growing and increasingly diverse
population, they have remained true to their core mission
to serve. However, achieving that level of personal service
and connecting with members is not as easy as it was once
upon a time.
Why Change At All?
Why would a credit union want to leave its comfort zone
and chart a new path of growth? For many, the reason is
simple: they want to extend the “people helping people”
philosophy to those who otherwise may not have access to
affordable financial services. Others seek growth in a mem-
3/27/06
5:27 PM
Page 5
bership that has been relatively flat. Others are forced to change
because their SEG sponsor is pulling out of town.
Whatever the reason, the decision to expand the field of membership presents many opportunities. Opportunities to help more families achieve their dreams and opportunities to help educate the
larger community about the credit union difference. So how does a
credit union determine how to expand its field of membership to
tap into those opportunities?
Adding SEGs
That was the dilemma that faced Shawn Bailey, president and chief
executive officer of AMOCO FCU (Texas City), and its board of
directors, as their 65-year-old credit union sought to evolve and to
reverse several years of stagnant membership growth. After consid-
ering a variety of options including conversion to a community
charter, the credit union’s board of directors ultimately opted to
stick with its SEG roots and focus on adding more SEGs to the field
of membership.
“Ultimately, our decision came down to our core values,”
explained Bailey. “We wanted to maintain a common bond among
our members. In a way, we believe that gives us a competitive advantage… the common bond makes us different.”
So AMOCO FCU set out to add more groups to its membership.
Getting there required the credit union to make some changes and
be creative.
“Once we made that decision, it was obvious that we needed to
do a much better job of recruiting SEG groups to add to our field of
membership,” said Bailey. “We changed our staffing and added two
5
3/27/06
5:27 PM
Page 6
business development officers who had their work cut out for them.
There is not a lot of new business or manufacturing coming to this
area, so we had to look beyond the usual parameters.”
Through research, the credit union saw opportunities in new residential developments springing up around town and began to
approach homeowner associations.
“This is consistent with our core
vision of building memberships
It’s imperative
among people who share a bond,”
to know your
said Bailey. “However, because
these are not employer groups, our current members
traditional focus on direct deposit
and to get to
and internet services does not really
know the people
apply. We have to focus on convenyou want to
ience if we want to attract new
members and keep them happy.”
become your
Going Community
members. Who
are they? What
makes them
tick? How do
they get their
information? Is
your credit union
equipped to handle their needs?
Other credit unions have opted
to convert to a community charter in order to access thousands of
additional people in a given geographic area.
One credit union that jumped
on the community charter bandwagon long before there was a
bandwagon was Texoma Community CU (Wichita Falls). Originally started in 1953 to serve the
National Federation of Federal Employees, the credit union soon
expanded to serve the civilian employees of Shepherd Air Force
Base. Over the next few decades other credit unions continued to
merge in, until the regulator finally suggested that it would make
sense to become a community charter. In 1984, that is what Texoma Community did. Today, the credit union serves members in
11 counties.
“We are the credit union for people in tornado alley,” muses
Wayne Mansur, Texoma’s president and chief executive officer, who
says it is much more challenging to connect with a more diverse
membership whose common links are geography and weather.
Member Loyalty vs. Pure Economics
One of the downsides of a growing field of membership is the loss
of member loyalty.
Tom Hodge, TCUL’s vice president of sales and marketing, says
the loss of loyalty is one of the biggest shocks for credit unions he’s
advised over the years.
“When you start taking in people from the community or adding
a whole slew of new SEGs, you lose a lot of the loyalty factor,” notes
Hodge. “It goes from that tight feeling of ‘we’re all in this together’
to ‘we don’t care about the name on the building…just give us the
best deal.’”
Mansur agrees. “I’m sorry to say it, but member loyalty does not
exist in a community credit union’s dictionary,” says Mansur. “Consumers will switch for convenience and shop for basis points. We are
6
perceived as just another financial institution vying for their attention. There is a very limited sense of ownership.”
Credit unions like Mansur’s are not throwing in the towel on
building member loyalty, however. “We seek to educate our members and create a connection with their credit union,” explains
Mansur. “We try to encourage our indirect borrowers to take advantage of our other services. But it’s an uphill battle. If we get even 10
percent of them, we feel like it’s a success.”
Reaching A Different Kind of Member
Without having all its members working at the same employer or
even in the same industry, how does a credit union connect with its
members and potential members and educate them about the credit
union difference?
First, it’s imperative to know your current members and to get to
know the people you want to become your members. Who are they?
What makes them tick? How do they get their information? Is your
credit union equipped to handle their needs?
Both Bailey and Mansur agree that reaching out to an increasingly diverse membership requires new approaches—and significant resources.
“One of the first changes we made right off the bat was in marketing and reach,” says Bailey. “For many years, we relied solely on our
newsletter to do our communicating. Now we are venturing into
new mass marketing and advertising strategies to communicate our
message to a larger audience. These strategies cost a lot of money.”
Mansur adds, “As a community charter, we spend a significant
portion of our budget in community awareness and mass media
campaigns. It’s expensive, and it’s difficult to know which media
channels are the most effective. That’s why it’s critical to have a good
marketing director.”
Be Prepared to Change Your Ways
Reaching out to new members often goes beyond simply changing
the marketing and communication program.
It may require new services or additional facilities. AMOCO
FCU, which has had one office for six decades, has embarked on a
plan to build three new branches in the next five years in order to
provide convenience for its growing membership among different
neighborhood associations.
It may require an ambitious community involvement program to
help elevate the credit union’s profile in the larger community.
It may even require a name change and complete overhaul of the
credit union’s brand, in order to appeal to those who have no connection with the decades-old, sponsor-based name.
Wake Up to the Risk Reality
While many of the changes that come with a changing membership are positive and propel a credit union to a new level of service,
other changes are not. Some credit unions are caught off guard by
the dramatic differences between their traditional SEGs and the
general public.
“There are a whole lot fewer headaches with staying a single
sponsor credit union,” Mansur admits. “When you expand, you
subject yourself to significantly increased risk and liability. For
3/27/06
5:28 PM
Page 7
example, we had a delivery person we’d come to know casually and
we opened an account with her. Though she seemed nice enough,
we learned that she had a check kiting operation going. When we
caught on to her scheme, she had no sense of obligation to us
because it wasn’t her employer’s credit union. We’re still trying to
collect the $5,000 she owes us.”
Kathie Wood, president and chief executive officer of Member
Preferred FCU (Saginaw), says her credit union learned the hard
way about the need to really examine the characteristics of the people being targeted for membership and plan for procedural changes
before venturing down the path to expansion.
Her credit union added an underserved community to its field of
membership in 2002 and has been learning lessons ever since.
“Our credit union was used to dealing with a stable membership
base, where we had payroll deductions on most members and saw
very few bankruptcies and repossessions,” says Wood. “When you
open up to a whole segment of the population that has a lot more
job turnover and less financial stability, it can be a real wake up call.”
Wood explains, “In 2004-2005, we had more charge-offs than
we had experienced in our other 70 years combined. We realized we
were really putting ourselves at risk.”
Wood said her credit union “had to change our loan policies big
time” and had to start working at collections “a whole lot harder.”
In addition, Member Preferred FCU is in the midst of a massive
net-worth restoration plan because the charge-offs knocked the
credit union below the minimum net-worth ratio.
“We are a very small, but very determined credit union,” Wood
says. “While some may say it’s time to merge into a bigger credit
union or dissolve completely, we are doing everything we can to
work through this.”
She warns others to do their homework before jumping into
unfamiliar territory.
To Expand or Not to Expand: That is the Question
While most credit unions have not weathered the kind of storm that
Member Preferred has, any type of change has its challenges. However, the opportunities for growth and further outreach into the
community remain very attractive for many credit unions.
When it comes to deciding what type of membership a credit
union will serve, Mansur says there is not a right or wrong way; just
different ways.
“Operating a credit union is a journey,” he says. “When you come
to a fork in the road, take one. It does not matter which path you
take—either one will have its benefits and its challenges. Anticipate
what lies ahead, then manage whatever comes your way. You may
end up taking the longer route to get where you want to go, but
eventually you’ll get there.
“The key is not to look at the grass on the other side and say it’s
greener,” concludes Mansur. “Realize the people on the other path
are probably looking at your grass and saying the same thing.” ★
Be aware of check kiting operations.
When you expand, you subject yourself
to increased risk and liability.
7
TCUL News_Advocacy
3/30/06
2:28 PM
Page 8
By Allison Castle
TCUL Communications Director for Advocacy
Bill Power
Legislative decisions can impact
the way you do business.
I
N TEXAS, OUR STATE LEGISLATURE MEETS ONCE EVERY TWO
years for about five months. Lawmakers can, and have
been called back to Austin at the Governor’s request to
tackle important and pressing issues that were not resolved
during the regular session. Credit unions both as financial
institutions and as not-for-profit cooperatives have numerous issues to watch for during any given legislative session,
regular or special, as well as during the interim.
Since 2003, Texas lawmakers have convened for two regular legislative sessions and six special sessions. Each regular
session lasts for a maximum of 140 days and special sessions
no longer than 30 days each.
“The Texas legislature has the power to help or hurt your
credit union's operations each and every called session by the
8
laws they enact,” explains Buddy Gill, Texas Credit Union
League (TCUL) chief advocacy officer. “The most recent
example has been the fight over public school finance reform,
which contains elements of both higher taxes and property
tax reduction.”
TCUL operates a full time advocacy department, comprised of attorneys and in-house lobbyists who closely monitor issues, ideas and legislation that could potentially impact
credit unions.
“Every session thousands of bills get filed, and while only
25 percent ever become law, TCUL must vigilantly review
them all to determine any potential impact on the 569
TCUL-affiliated credit unions in Texas,” says Suzanne
Yashewski, vice president regulatory, compliance, and legal
affairs.
According to Yashewski, TCUL tracks the progress of legislation and is prepared to educate members on matters specific to
credit unions, as well as more general issues such as federal preemption. She notes that because even a well-intended bill can
TCUL News_Advocacy
3/27/06
1:34 PM
Page 9
have unintended consequences, TCUL often
provides input by drafting amendments to
bills as they move throughout the process.
In 2005, TCUL closely monitored more
than 500 bills that could directly impact credit
unions. This number could get even higher.
Consider, in 2005, 5,484 bills were introduced by both the Texas House and Senate,
and just 10 years earlier that number was
4,957, according to Texas Legislature Online,
Legislative Statistics.
“There are many points of entry for legislation that can affect credit unions,” says Jeff
Huffman, TCUL vice president for governmental relations. “The House Financial
Institutions Committee led by Rep. Burt
Solomons and the Senate Business and
Commerce Committee led by Sen. Troy
Fraser are primarily charged with dealing
with issues involving the state's financial
institutions. However, TCUL must monitor a large number of other committees that
also have jurisdiction on issues that can
impact credit unions, involving issues such
as ID theft and data security like the House
State Affairs Committee and many others.”
Huffman explains that having close relationships with lawmakers is imperative, so
that before hearings or committees meet
formally, there is a dialogue about what is
coming down the pike. Lawmakers want to
understand the credit union position and
when fully briefed, can act accordingly in
drafting opposing legislation.
Further, according to Gill, having a close
relationship with lawmakers not only helps
credit unions today, but can prove useful
tomorrow. “As we have seen, often Texas state
lawmakers “move up” over time to Congress.
Congressmen Ralph Hall, Kevin Brady, and
Kenny Marchant are just a few examples.
Building those relationships at the local level
as their careers grow benefits all credit
unions,” Gill said.
No doubt that even when not in session,
Texas lawmakers are hard at work, as is
TCUL’s advocacy department. “TCUL
must work between sessions as interim studies are conducted, to monitor and provide
input,” says Carolyn Merchan Saegert,
TCUL legislative and compliance counsel.
“It is often during this time that we can have
the most influence while working with lawmakers, as well as propose constructive solutions that can be the basis for future legisla-
tion.” Interim studies allow an “airing out”
of issues giving all parties more time to study
and to have an impact if necessary.
What the Texas legislature does can ultimately impact all credit unions—state and
federal chartered. Gill says that state-chartered
credit unions care very much what the Texas
legislature enacts. While federal credit unions
are governed by federal law, if state law does
address a subject that the federal law is silent
on, it is possible that the state law can be interpreted to apply to federal charters too. This
gives our federal charters a stake in our state
legislature. In the larger sense we also want to
promote the dual charter system to lawmakers as “a race to the top,” and to seek parity
whenever possible so credit unions have the
powers they need to serve their members.
With another special session on school
finance on the horizon, Texas credit unions
can sleep soundly knowing that TCUL and
its advocacy team remain actively engaged
and will continue to monitor issues of importance to our industry, our not-for-profit credit
unions and their more than seven million
members. ★
9
TCUL PIA_Truth
3/28/06
11:57 AM
Page 10
TCUL Communications Director
The Truth
Behind Addictions
Learning to recognize addictive
behavior can go a long way towards
making sound financial decisions.
A
DDICTION…MOST PEOPLE WHO HEAR THE WORD
addiction relate it to someone dependent on drugs
or alcohol. If you look up addict in the Webster’s
Dictionary, it is defined as someone who becomes
physiologically dependent on a drug. According to psychologist Susan Fletcher, PhD, that drug could be alcohol, narcotics, smoking, drinking, gambling, eating, and even shopping. While once taboo, addiction now has a face. Addicts are
no longer thought of as deviants, unwilling to conform to
society’s rules. Perhaps the compelling documentary series,
Intervention, has helped increase awareness and understanding of the complexities of addiction. Maybe it has even motivated society to be more compassionate toward those who are
battling with their addictions.
Fletcher says people engage in addictive behaviors as a way
of coping with feelings and situations with which they cannot otherwise cope. While no one human being is alike and
every addiction is fueled by unique circumstances, Fletcher
says addicts—regardless of the addiction—share some common characteristics:
• Poor problem solvers
• Inability to understand the long-term consequences of
their decisions
10
• Accountability issues, the inability or unwillingness to
take responsibility for their actions
• Unable to be honest with themselves or others
“People with emotional intelligence, are better equipped
to manage themselves and their behaviors. They are more in
touch with their emotions; understand how emotions fuel
certain destructive behaviors and because of this, they are
able to better regulate themselves,” says Fletcher. “Addicts on
the other hand do not see the connection between emotions
and behavior. They seek to numb their emotions through
their addictive behaviors.”
Fletcher speculates that a lot of consumer overspending is
due to emotions. It could be that a parent is trying to overcom-
Concerning, but certainly not
surprising, Americans today aren’t
saving. In fact, the personal savings
rate dropped below zero percent in
2005—it hasn’t dropped that low
since the Great Depression.
pensate for their feelings of inadequacy as a parent by
overindulging their children with material things. Or perhaps
a woman struggling with self-image issues overspending on
clothes and beauty products to make herself feel better. It could
also be a man who feels he is not measuring up professionally,
TCUL PIA_Truth
3/29/06
1:25 PM
Page 11
so he embellishes his reality—this could be something as small as
picking up an extensive lunch tab to impress his peers.
Examination of consumer debt levels might cause one to question what is fueling excessive consumer spending—perhaps
Fletcher’s speculation is on target. According to the Federal Reserve
Board, U.S. consumer debt has reached staggering levels with
revolving debt increasing from $124.4 billion in 1985 to nearly
$800 billion in 2005. The average American household reportedly
owes well over $8,000 on their credit cards. Concerning, but certainly not surprising, Americans today aren’t saving. In fact, the
personal savings rate dropped below zero percent in 2005—it has
not dropped that low since the Great Depression. Clearly, Americans are spending far more than they’re earning and falling deeper
into debt. Jill Pharr, executive director of the Texas Credit Union
Foundation (TCUF), tends to agree with Fletcher on what is fueling this spending frenzy.
“We all make financial choices based on emotions—it's human
nature,” says Pharr. “Certainly, many of our financial habits are set
early in life. Watching our parents, as well as exposure to media and
cultural influences, defines our emotional ‘wants’ and these ‘wants’
often become confused with ‘needs’.”
Pharr says understanding basic financial management principles and working from a plan (or budget) can help take some of
the emotion out of these decisions, as well as help us to make wiser
choices, financially.
Fletcher adds that people also need to learn and recognize what
triggers their irresponsible spending. For example, if you have a
confrontation with a loved one or a colleague, do you find yourself
in the mall buying something you really don’t need? By identifying
what triggers emotional spending, Fletcher says you are better able
to manage and control the problem.
“It has been my experience that people with addictive tendencies
do things because it feels right, not because it’s right,” says Fletcher.
“The problem is, when they commit the act, they fulfill that need
for instant gratification. They were not concerned about the consequences of their actions. Unfortunately, the emotions usually felt
afterwards include anxiety, guilt and regret—certainly not positive
emotions.”
The first step in overcoming any addiction, Fletcher says, is
admitting that you have a problem. While most patients do not
come to her for help in overcoming poor spending habits, Fletcher
says therapy usually reveals that overspending is a response to a bigger emotional issue.
If a parent has a problem with spending, Fletcher says it’s important that they be honest about the severity of the problem and nip the
problem in the bud because the bad habit can easily be passed on to
their children.
That is exactly why Pharr says TCUF has such a strong focus on
financial education, especially in the schools. “We want to ensure that
young people are able to distinguish between necessities and material
desires,” Pharr says. “By learning these important lessons early on,
they will be better prepared to make sound financial choices.” ★
11
TCUL PIA_Empowerd
3/28/06
10:12 AM
Page 12
Empowered!
Building Credit Union Value in
New Employees.
C
HANGE IS INEVITABLE—CHANGE IS GOING TO HAPPEN.
And new credit union employees’ values, if not channeled and molded into the historic cooperative service culture of credit unions, will also change. From
the Rochdale, England consumer cooperative begun in 1844,
to La Caisse Populaire de Levis in Quebec in 1901, to La
Caisse Populaire Ste. Marie in Manchester, New Hampshire
in 1908, to credit union conversions to savings banks in 2005,
12
By Curtis Collins
Board of Director for JSC Credit Union
the culture and values of credit union employees has been
challenged. With each new generation, credit unions’ basic
culture will continue to be challenged and if not continually
reinforced—will change.
Credit unions are first-and-foremost cooperatives that are
member-owned. Individual credit unions’ values change as
newer generations with different values and objectives join in
that credit union family. They join not only as members, but
also as volunteers and members of many credit union organizations including the board of directors. And their value
change is transferred to our new employees in the type of
services demanded and the way the credit union chooses to
provide those services.
Credit union business practices and service delivery channels are changing as member service demands change from
“cash” to “credit card” to “electronic;” from knowing everyone who comes in once a month to conduct a transaction to
the “beep” of a message waiting, or of an online transaction
being completed by a member who does not want or does
not have time to come to a facility; from brick and mortar
transactions to on-line transactions to call centers; and the
new multiple ways to transact credit union business. Members demand improved service delivery methods that are both
changing and enhanced with technology development.
Additionally, credit union members are more sophisticated and through the Internet and other devices look for
the best financial deal that meets their needs. They are also
normally members or customers of multiple financial institutions with each of these institutions offering a different
portfolio of services and an individual “set of tools” for
acquiring and using their services. Our members want the
best, fastest, and easiest to understand deal NOW. Today,
allegiance is to the best deal, and not necessarily the cooperative relationship.
From the Credit Union National Association (CUNA)
Environment Scan of 2006 our U.S.A. workforce is changing. We are more service oriented, with skilled workers in
short supply. One-third of the workforce is over 50; baby
boomers are now 60; more job opportunities are leading to
applicants being more selective. One-half of the U.S.A. population is Latino; women are more vital and make major economic decisions for the family; and first time homebuyers
under age 25 increased by 20 percent.
Credit union management teams change as we see retirements and mergers. With one-fourth of our credit union
presidents nearing eligibility for retirement, we will continue
to see new management teams in place. Some of these teams
will come from other financial organizations whose culture is
not seeped in cooperative member service but in for profit.
The focus on customer services in those organizations is
driven by the bottom line, not necessarily the satisfaction of
the customer.
With all of the above challenges noted, credit unions continue to rank at the top in all annual financial surveys on
membership satisfaction, including those conducted by
TCUL PIA_Empowerd
3/27/06
11:43 AM
Page 13
other financial organizations. Credit unions must position their
future services and staff-to-member relationships that enhance and
maintain this position. Credit unions must remain aware of new
and innovative service delivery systems, maintain staffs that are customer focused, and develop programs that meet the needs and individual financial positions of our members. Several credit union
The credit union management team of the
president and all supervisors must hire
employees who can accept and deliver
customer service with value added.
groups must step up to the plate to continue the current level of
member satisfaction.
First the credit union governance team of the board and president
must establish a culture for their credit union that puts credit union
values and member satisfaction first in all areas. They must develop
strategic goals and plans that focus on key credit union values. From
brand to tag line to policy statements, it must be clear to members
and staff that credit union values and service are first here!
Next, the credit union management team of the president and all
supervisors must hire employees who can accept and deliver customer service with value added. There are numerous instruments
such as the Gallup Strength Quest, which allows management to
asses the strengths, capabilities, and desires of employees to find
their best fit—and these should be used where possible. This team
must develop innovative services, including loan and savings instruments that meet the expressed needs of their members. They must
also eliminate as many levels of management as possible, and
empower employees to make decisions that positively impact the
member. They must establish controls and review techniques that
ensure first class services and financial soundness go hand-in-hand;
they must provide salary and benefit programs that make the best
applicants want to work for their credit union and to stay until
retirement. They must demand training programs that provide
employees with all the information and skill they need to staff their
position - and to feel comfortable in making key decisions; and they
must establish accountability and rewards when employees implement and deliver a program resulting in total member satisfaction.
Building historic credit union values in new employees will continue to be a challenge for all credit union management and staff.
Membership open and voluntary; democratic control by one member –one vote; fair rate of interest charged on loans and paid on savings deposits; neutral on diversity and EEO issues; service to the
member is primary motive for existing; on-going community financial education; cooperating with other cooperatives; and promoting social responsibility – your credit union values yesterday, today,
and tomorrow. ★
13
TCUL immigration
3/27/06
1:39 PM
Page 14
MAIN POINTS
Hispanics are the fastest growing, diverse ethnicity in the U.S.
By 2050, 30 percent of the entire U.S. population will be Hispanic.
Rio Grande Valley, San Antonio, Houston, and Dallas/Fort Worth are among the top 10 U.S. Hispanic markets.
By 2007, Hispanic purchasing power will top $926 billion.
By Linda Webb-Mañon,
Immigrants:
Living in the
Shadows of
Financial Mainstream
These are your future savers, borrowers and investors.
T
HEY WIELD A PURCHASING POWER OF ABOUT $300 BILLION; YET HALF
of America’s 20 million foreign-born Hispanics have no financial
institution relationship. Instead, they live in the shadows, paying a
premium price for the very basic financial services.
Dr. Manuel Orozco, senior associate for the Remittances and Rural
Development Program in Washington, D.C., says part of the problem is
14
TCUL immigration
3/27/06
1:40 PM
Page 15
Despite their low income,
hispanics still have a demand
for various financial services.
15
TCUL immigration
3/27/06
1:40 PM
Page 16
that financial institutions have been slow at servicing this market,
and non-banking financial institutions have yet to offer value
added products that fit the market preferences of this cohort.
Because of their limited access to financial services, Orozco suggests that Hispanics are underserved as a market and marginalized
as a social group.
Few could argue that immigrants do in fact make a large contribution to both local and national economies. In 2002, immigrants
made up 11.3 percent of the U.S. population, but 14 percent of the
workforce. A study published by the Federal Reserve Bank of Dallas found that from 1996-2002, immigrants comprised 51 percent
of the total growth in the labor force. In 2004, immigrants alone
contributed $450 billion to the U.S. economy, according to the
Inter-American Development Bank.
“It is immigrants who often build our houses, cook our food
and wash our dishes at restaurants, take care of our children, and
just how much they would save by using a credit union as opposed
to a fringe financial service provider, they would switch.
“A 2005 study published by the Federal Reserve Bank of Philadelphia estimates that it costs individuals using check cashers and
money orders to pay their bills as much as $789 per year for the very
basic financial transactions,” Baddour comments. “If newly banked
individuals are taught how to effectively manage an account, having
an account at a credit union could save them over $600 per year in
transaction costs—that is a substantial savings.”
Interestingly, many immigrants believe the opposite—convinced that they just can’t afford an account at a credit union or
other institution. Baddour believes this misperception could be
caused by the fact that many immigrants open checking accounts
and are not taught how to manage those accounts, and as a result,
they overdraw their accounts or let their accounts drop below the
minimum balance requirement and are assessed fees. Frustrated,
“It is immigrants who often build our houses, cook our food and wash
our dishes at restaurants, take care of our children, and pick or process
the food we buy. They are also entrepreneurs in our communities,”
ANN BADDOUR, SENIOR POLICY ANALYST FOR TEXAS APPLESEED
pick or process the food we buy. They are also entrepreneurs in
our communities,” says Ann Baddour, senior policy analyst for
Texas Appleseed.
Baddour points out that efforts are being made by credit unions
and other financial institutions to bring unbanked immigrants into
the formal financial service system, but acknowledges many recent
immigrants do in fact remain outside of our banking system. The
biggest challenge, she says, has been increasing awareness within the
immigrant community—letting them know that there are financial
institutions ready to open their doors to them.
Greg Barnes of Unity One FCU (Fort Worth) would agree. Since
the recent opening of their new branch in the heart of a predominantly Hispanic community, Barnes says the credit union continues to compete with the more costly pawnshops and payday lenders.
“I really don’t believe that recent immigrants want to pay more
for basic financial transactions, they just don’t know that there
is an alternative available,” he comments. “And the challenge is
that you can’t educate them through the traditional marketing
channels.”
To reach the immigrant community in Fort Worth, Unity One
FCU has gotten creative with their marketing – using colors that are
more vibrant and tweaking their messages to better suit the market.
But their most valuable marketing tool hasn’t cost them a dime,
only their time.
“Community relations has been the key to our success and we’ve
found that word of mouth is vital in this market,” Barnes adds.
While Baddour is not surprised that financial institutions are
having to compete against the more costly, non-traditional financial service providers, she believes if immigrants really understood
16
they close the accounts, believing it’s just easier and cheaper to use
the local check casher.
TCUL partnered with Texas Appleseed a couple of years ago to
conduct focus groups in immigrant communities throughout
Texas. Findings revealed that it’s not necessarily that Hispanics have
a negative view of the banking system in this country—in fact, Hispanics generally have positive views —they are just mostly unfamiliar with it, and in particular, unfamiliar with credit unions.
Within the context of financial services for foreign-born Hispanics, Orozco says two important realities other than culture and language have shaped their preferences:
• low-income socio-economic status
• limited access to both banking and non-banking
financial institutions
“Although the incomes of Hispanic migrants have grown considerably in the past 15 years, Hispanic income is still below the
national U.S. average, particularly when compared to other foreign
born groups,” Orozco notes. “But despite their low income, they
still have a demand for various financial services and products such
as checking accounts, stored value products, international money
transfers, insurance, mortgages, payments, and credit.”
With regard to remittances, $20 billion dollars was sent from the
U.S. to Mexico alone. While certainly a staggering number, Orozco
says that represents only 20 percent of the remitter’s earnings, the
remaining 80 percent is mostly spent in the U.S.
Dr. Juan Hernandez, a former cabinet member in the Mexican
government, author of the just released book, “The New American
Pioneers: Why are we so afraid of Mexican Immigrants,” and credit
union supporter, agrees that the average income for immigrants is
TCUL immigration
3/27/06
2:23 PM
Page 17
lower than non-immigrants, but says that will change over time.
“It’s important to keep in mind that we are talking about a much
younger population and therefore, they have the opportunity and
certainly the potential for upward mobility,” Hernandez says.
“Immigrants in this country are energizing our economy. They have
a lifetime ahead of them for investing, saving and spending. And
credit unions should be on the forefront of serving this market.”
Lois Kitsch, director of special projects for the Filene Research
Institute, agrees.
“Credit unions should not wait to position themselves to serve
the Hispanic market,” Kitsch says. “Doing so puts them far behind
other institutions that have already recognized the benefit of attracting them as customers.”
Indeed, Baddour says credit unions have great potential to meet
the financial service needs of immigrant communities, but says they
must make the commitment to meet people where they are.
Unity One FCU was more than willing to make that commitment. “We knew that in order to be successful, we had to be prepared to genuinely reach out to the Hispanic market,” Barnes
says. This meant opening a physical branch location in the
neighborhood where the (largest) percentage of the Hispanics in
their field of membership lived, hiring a fully bilingual staff, and
implementing a series of new products that Hispanics (new
immigrants, as well as second and third generation) would be
accustomed to using.
In addition to reviewing their product menus to ensure they offer
the desired products such as money transfers, check cashing and short-term loans,
Kitsch says it is also necessary to train credit
union staff to understand the benefits of servAlthough hispanics have
ing this new member segment. Staff also
positive views, they are generally
needs to be prepared to provide the necessary
unfamiliar with credit unions.
information for these new members to be
successful in their credit union relationships.
“Credit unions have to be willing to focus
on the personal relationship that has proven
to be essential in the long-term success of
loans to immigrants who do not have a long
history using formal financial services,”
adds Baddour.
Equally important, Kitsch adds, is that
credit unions should understand their state
and local law in regard to serving undocumented immigrants and adapt their policies
to accept foreign identification. “Doing so is
a great business, social and philosophical
decision,” she says. ★
U.S. HISPANIC PROFILE:
• Hispanics are the fastest growing, diverse ethnicity in the U.S.*
• By 2050, 30 percent of the entire U.S. population will be Hispanic.*
• Sixty-two percent of all Hispanic adults have lived in the U.S. 15 years
or less.*
• Mexico represents nearly 60 percent of the entire Hispanic population
in the U.S.*
• Rio Grande Valley (95 percent) San Antonio (55 percent) Houston (30
percent) and Dallas/Fort Worth (25 percent) are among the top 10 U.S.
Hispanic markets. Seventy-nine percent of Dallas’ Hispanics are of Mexican origin and 73 percent of Houston’s Hispanics are of Mexican origin.*
• Median age for Hispanics is 26.7 and 24.2 for Mexicans.*
• Seventy-two percent of first generation Hispanics are Spanish dominant; 78 percent of third generation Hispanics are English dominant, and
46 percent of second generation Hispanics are English dominant and 47
percent are bilingual.***
• By 2007, Hispanic purchasing power will top $926 billion.**
* U.S. Census Bureau
** University of Georgia’s Selig Center for Economic Growth
*** Pew Hispanic Center
17
TCUL diversity
3/27/06
6:29 PM
Page 18
MAIN POINTS
Determine what qualifications you’re looking for.
Establish director roles and expectations.
Develop Strategic Recruitment and Exit Plans.
Create a professional candidate assessment process.
DIVERSiTY
On The Board
A critical issue facing organizations today with voluntary boards.
T
HE CITY OF IRVING IS NOT UNLIKE MANY OTHER
18
cities across the state—it’s growing and it’s diversifying. According to U.S. Census data, from 19902000, Irving’s population grew by more than
36,000 residents—and Hispanics are credited
with fueling this growth. A glimpse at the student
body in Irving’s school district offers a clear picture
of just how dramatic the population shift has been
in this community of nearly 200,000 residents.
In October of 1995, Hispanics represented 33
percent of the student body and Anglos accounted
for nearly 47 percent. Today, 62.5 percent of the
student body is Hispanic and only 19.7 percent
Anglo. A growing concern in this ethnically rich
TCUL diversity
3/27/06
6:28 PM
Page 19
TCUL diversity
3/27/06
6:26 PM
Page 20
city is that the school district’s board of trustees is no longer reflective of the student body it is charged with representing.
Claire Warner, vice president of OnBalance—a service offered
through Credit Union Resources that provides professional planning, consulting and training can relate to this concern, adding that
it is not an issue isolated to school boards.
“Credit unions are wrestling with this same issue, particularly
those that have shifted from a single sponsor credit union to a community charter. Even though their membership has diversified,
their board is still reflective of their original sponsor,” observes
Warner. “I think most credit unions would agree that a diverse board
would be the ideal situation, but they’re challenged in motivating
members to volunteer in this capacity.”
Daytime activities and
evening meetings require a lot
of time and commitment.
20
Irving ISD Superintendent Jack Singley says that has certainly
been their issue.
“I would of course prefer to have more diversity on our board of
trustees, and I’m confident that that is the board’s preference as well,
but we just haven’t been successful in doing so,” says Singley.
Singley stresses that he does not believe apathy is the reason Hispanics and other minority groups are not seeking a seat on the board.
“Serving on the school board is an enormous commitment. There
are times when the board has to engage in daytime activities, as well
as participate in evening meetings. For many this commitment of
time (taking them away from their job—which in some cases might
result in loss of wages) presents a real challenge.”
Gary Tuma, CEO of Smart Financial CU (Houston), says diver-
TCUL diversity
3/27/06
6:26 PM
Page 21
sifying a board is a challenge that requires the allocation of resources
to identify and recruit people for this type of volunteer service.
“Because credit union boards of directors are not compensated,
enticing members to make a voluntary commitment is a challenging proposition,” Tuma says.
Smart Financial changed to a community charter about one-anda-half years ago, but Tuma says about 40 percent of its 80,000
members are connected to the credit union through its core
group—the school district.
The credit union’s board is comprised of six Anglos, four African
Americans and one Hispanic and within this group; eight are
males, three females. All are over the age of 50 and tied to the education profession.
“In a perfect world you would have mix of gender, ethnicity, age,
education, and practical experience,” says Tuma. “However, that is
not to say a board that lacks diversity cannot be effective. It’s really
about getting the right mix of individuals and the right mix of perspectives. I strongly believe that our board is able to relate to the
needs of our members. Because
of their personal and professional
experiences, they are extremely
“In a perfect
sensitive to what is going on in
world you would the community and place high
importance on their role as a
board member.”
have mix of
Nonetheless, Tuma says the
gender, ethnicity, credit union would love to have a
more diverse board and has
charged its audit committee to
age, education,
examine the succession process
and put a plan together.
and practical
Karen Houston, vice president
of OnBalance, says as we’re disexperience,”
cussing diversity it’s important to
keep in mind that diversity not
says Tuma.
only implies race, culture and
gender, but also socioeconomic status, skill sets, personal and professional backgrounds, and geographic representation.
“Effective recruiting is an awesome responsibility,” says Houston. “A warm body to fill a seat obviously isn’t enough. You not only
have to identify qualified, enthusiastic and diverse candidates, but
as Singley alluded to, you have to ensure candidates understand—
and are in a position to meet the commitment that board service
requires.”
If your credit union is in the process of developing a successful
volunteer succession plan, Houston and Warner offer the following
suggestions:
• Determine what qualifications you’re looking for—this could
include experience; skill sets; attributes such as integrity,
accountability, informed judgment; diversity, i.e. age, gender,
race, culture, etc.
• Establish director roles and expectations. Providing a clear picture
to potential candidates of the organization and what is expected of
its board members is extremely important.
• Develop Strategic Recruitment and Exit Plans. Credit union business is far more complex, competitive and demanding than it was
in years past, and boards now must keep pace with the increasing
requirements of the business. Too often selecting a director suffers
from the Forest Gump syndrome . . . “Like Picking from a Box of
Chocolates, You Never Know What You’re Going to Get.”
• Create a professional candidate assessment process, keeping in
mind that the screening and assessment process needs to be undertaken through a fair, open and transparent process—and in a professional manner. It should not be an informal ‘chat’ to determine
if the candidate is a nice person or not.
In the end, Singley says what all organizations with volunteer
boards strive for is “to have the right people on the board who want
to be there for the right reason.” ★
21
TCUL Hall of Fame
3/27/06
5:23 PM
Page 22
Choate, Arnold
A
The latest inductees into the
Texas Credit Union Hall of Fame
TRUE AND LOYAL CREDIT UNION PIONEER WHO HAS MADE OUTSTANDING CONTRIBUTIONS TO THE
credit union industry… that is how Jim Bryan—inducted into the Texas Credit Union League’s
(TCUL) Hall of Fame in 2004—describes 2006 Hall of Fame inductee John Arnold. Joining Arnold
into the prestigious Hall of Fame is Clyde Choate—a man that Lone Star CU (Dallas) CEO Jerry
Clancy says, “unselfishly volunteered his time to promote credit unions and their ideals.”
TCUL’s Awards & Recognition committee, from a pool of some 30 entries, selected Arnold and
Choate for this distinction. James Boyd, chair of that committee, says the process was a difficult
22
TCUL Hall of Fame
3/27/06
6:30 PM
Page 23
A humbled Arnold says he is thrilled to be
one because there are so many individuals
selected for the Texas Credit Union Hall of
deserving of this award. “We are very forFame. “There is no other honor that is more
tunate in the credit union industry to have
meaningful to me,” he said.
such an abundance of outstanding leadThough no longer with us, Clancy says
ers,” said Boyd. “The Hall of Fame is our
he is confident Choate would be honored
way of paying tribute to the dedicated and
and moved by this award. “He was a man
committed professionals and volunteers
that sincerely believed in the credit union
who have given so much of themselves to
philosophy,” Clancy says of his friend
further advance the movement.”
Choate. “He was a remarkable husband,
The Hall of Fame was initiated in 1998
dad and credit union leader.”
to honor those in the credit union moveChoate’s credit union career spanned
ment who reflect a history of service to
some 25 years. Although his first responsiTexas credit unions. Nominees are selected
bility was to his credit union, Lone Star
for their records of achievement within
CU—where he served as president from
their own credit union and for achieve1964 to 1992—Choate unselfishly gave
ments that have benefited many credit
of his time, insight and experience on the
unions. Individuals are inducted into the
local, state and national level. He was
Hall of Fame because they have been key
active in the Dallas Chapter and the Texas
players in organizing and running credit
unions. Beyond that, they have contributed to other credit unions CUES Council, where he served as president from 1977-1978.
through service to chapters, TCUL, and in some cases, the Credit From 1974-1986, he served on TCUL’s board of directors, testifying on behalf of TCUL and CUNA in 1979 before the SubUnion National Association (CUNA).
John Arnold landed on the credit union scene in the mid-60s. committee on Taxation and Debt Management of the Senate
His first position was as Manager of Ada FCU, but his credit union Finance Committee on tax incentives for savers. Choate also
career did not stop there. This visionary had far more contributions served on the board of directors for CUNA, Southwest Corpoto make to the movement, and his talents did not go unrecognized. rate FCU and CUNA Mutual.
“I had the privilege of working with Choate for more than 20
In 1972, he became vice president of the Texas Credit Union
League—a position he held until 1976. The next 20 years of his years. When he died, I felt his loss on a personal and professional
credit union career were spent at the helm of Southwest Corporate level,” Clancy says. “I cannot find the words to express just how
much it means to me to see my dear friend inducted into the Texas
FCU (Dallas).
Under his leadership, Southwest Corporate grew from an idea Credit Union Hall of Fame.”
Arnold and Choate were honored at TCUL’s Annual Meeting in
into the nation’s second largest corporate with assets exceeding
$3 billion. Terry Young, director of marketing communications, Galveston at a special awards ceremony. ★
says Arnold was the architect and driving force of the
organization. “He advocated the development of
TCUL’s Award Programs Recognize CU Leaders
products and services that helped literally hundreds of
credit unions grow and better serve their members,” In addition to the Texas Credit Union Hall of Fame, TCUL honors credit union leaders
Young says of Arnold.
through the Professional and Volunteer of the Year and the Small Credit Union Achiever’s
Young points out that Arnold’s time with Southwest Award. These awards are presented at TCUL’s Leadership Conference in September and
Corporate tells only part of his credit union involve- a call for nominations will be issued in June.
ment. During a credit union career that spanned more
The Texas Credit Union Professional of the Year and Volunteer of the Year awards
than 30 years, he served as president of the Galveston honor the accomplishments, time and effort of credit union professionals and volunchapter; vice president of the Texas Credit Union Execu- teers. The Achievers Award is specifically designed to honor individuals from credit
tive Society (CUES) Council, and vice chairman of U.S. unions $20 million and under in assets.
Central CU. In addition, he served as a board of director
The Awards & Recognition committee is charged with selecting the recipients of
for TCUL.
these awards. The committee is comprised of the following individuals:
Following his retirement from Southwest CorpoBill Gordon, Fort Worth City CU
rate, Arnold has consulted, facilitated planning sesBill Nikolauk, 1st Community FCU
sions and served as an interim CEO for numerous and
Chet Kimmell, Neighborhood CU (Dallas)
various-sized credit unions. He has also authored a
Vice Chair David Keller, Texas Transportation FCU (San Antonio)
book, the Journey… A history of the Corporate Credit
Debbie Blackshear, Cy-Fair FCU (Houston)
Union Network.
Chairman James Boyd, Abilene Teachers FCU
“Quite simply, as a volunteer and professional execuSuzy Brinkman-Doughty, NAFT FCU (Pharr)
tive, Arnold has boosted and influenced the movement,”
Additional details and requirements for each of these awards may be found in the
Young says.
Awards & Recognition section of TCUL’s web site at www.tcul.coop.
Nominees are
selected for their
records of
achievement within
their own credit
union and for
achievements that
have benefited
many credit unions.
23
TCUL professional develop
3/27/06
6:35 PM
Page 24
Professional Development
Achieving Goals
The Enduring Importance of
Leaders and Leadership
L
EADERSHIP IS ONE OF THE MOST OBSERVED PHENOMENA
throughout time. The reason is clear; in every time
and place leaders make a difference. Leaders impact
public affairs, develop individuals, create and change
policies, leave legacies within organizations and industries,
and much more.
If it were as easy as assigning a formula for leadership it
might read something like:
L = f (l, f, s)
The key elements in the above formula are leaders, followers, and situation. Leadership is then defined as a function of
three variables. A more simple definition of leadership,
in this instance, can be read as the process of influencing
the activities of a group in efforts toward goal attainment in a given situation. In theory this
might be a good idea. Realistically, the
approaches to leadership that we
are all more familiar with are
contingency based.
Our knowledge of leadership,
or leadership development, is not
necessarily just the function of
three variables. It is more complex.
For many of us it is a function of personal experiences, observations, environments, and other countless variables that helps us create a
vision to change the ordinary into extraordinary.
The job of today’s leader is immense. Leaders are often
viewed as the single most critical factor in the success or failure
of a program or organization. In addition to serving as a communicator, mentor, and motivator, the responsibilities of leaders are even more demanding and challenging. According to
John Vardallas, founder and CEO of The American Boomer
Group, there is a host of factors making the job of today’s
credit union leaders even tougher. These factors include:
• Rapid change, making long range planning difficult;
• The fluctuating economy;
• More public scrutiny;
• Overwhelming but crucial information provided
through the Internet;
• Members expectations; and
• Managing a multi-generational workforce
With so many challenges and changing environments,
what are the fundamental tasks that leaders can do to inspire
and empower us? In the text Primal Leadership (Goleman,
Boyatzis and McKee, 2002), the authors write that intellect
24
By Lucinda Rocha
TCUL Director of Chapters & Councils
alone will not make a leader, but that a fundamental key to
effective leadership is not just understanding what leaders
do but how they do it.
Dr. Nina Vaca, founder and CEO of Dallas based Pinnacle Technical Resources, Inc., states, “My leadership style is
simple—if you surround yourself by amazing people you
will do amazing things.” Vaca attributes her success as a
leader to empowerment. As Chairman and CEO of one of
the fastest growing information technology service
providers, Vaca believes it is essential to have a vision for
your organization, but one person alone cannot achieve the
vision. “By leveraging the talent of others you create
superstars within your company. These are the
people that take ownership in your vision
and help you achieve your dream.”
For Lupe Valdez, Dallas County Sheriff, the key ingredient in her recipe for leadership is consistency. In a speech at the recently
held Latino Leaders Summit, Valdez stated
that leaders of organizations set the standard and at times are the individuals that
others model their behavior after. Valdez
says, “It is important that as a leader you
have consistency in your words, actions and
ethics. Knowing who you are and what you stand
for helps you build a better relationship and credibility
with others.”
Leaders skilled in relationship building with their staff
discover their ability to maximize the cooperation and trust
of all areas within their organization. This type of resonant
leadership yields a greater return on investment for all
involved. As research proves, for a one percent increase in
any service climate, the return is a two percent increase in
revenue. Just imagine if we all increased service to our members by one percent!
Gone are the days of leaders using surface charm to mislead and manipulate to get the job done. While it may be
effective in the short term, it comes across as insincere and
in time disables the organization from moving ahead in
any industry.
So how do you begin your steps toward being an effective
credit union leader? Sharing some of his insights, Vardallas
suggests, “Develop [a] team approach toward your duties
reflecting shared standards of conduct. Keep a shared vision
and focus on the future, transfer the passion to the next generation, and keep yourself growing and learning!”★
TCUL professional develop
3/27/06
6:35 PM
Page 25
Focus On Education & Training
By Tonya Farmer
Vice President of TCUL Training Resources
M
ALCOM S. FORBES WAS ONCE QUOTED SAYING,
“Education’s purpose is to replace an empty
mind with an open one.” As the world
around us continues to change at an
extremely rapid pace, so does the credit union industry.
With this change, information and trends become quickly
outdated and additional education becomes increasingly
important. Old information, technology and protocols
have a way of becoming exactly what Forbes refers
to…empty. Industry professionals who have failed to
maintain their staff skill levels and stay abreast of current
trends will surely find themselves falling behind the competition that looms on every corner. Credit unions motivated by this change, and who have a continued focus on
education with their management teams, staff and volunteers, will no doubt be more successful and generate a
greater capacity for increased business in this ever changing
and competitive environment.
Why fall behind the pack when all the resources you
need are available through your association—The Texas
Credit Union League (TCUL). By logging onto our
education website at www.tcul.coop, you will find a vast
array of educational opportunities for you, your staff and
volunteers. Are you interested in new lending opportunities to assist in declining financial performance, do you
need assistance with your Front-Line training, or are you
concerned about various security issues or business continuity threats? TCUL has your answers and wants to be
your primary source of education and training. TCUL
has developed programs to specifically target your concerns and challenges and additionally have partnered
with two organizations to ensure that your training needs
are met.
TCUL wants to be certain that every possible training
need is addressed. In order to make this possible, TCUL has
partnered with the Texas Credit Union Foundation (TCUF)
and the Credit Union National Association (CUNA).
TCUF has grant funds available for credit unions in need of
financial assistance in order to attend and participate in continued staff or volunteer education. You can access an online
application at www.tcuf.coop. CUNA can be used as an additional resource for training on topics that the league may not
currently provide. A current training schedule for CUNA
can be found at www.cuna.org. Your credit union success is
TCUL’s motivation. Let us focus on your success by assisting
you in your continued focus on education! ★
Upcoming Training Events:
05/02/06
TCUF Grand Request Deadline
Texas Credit Union Foundation
800.953.8283
05/02/06
TCUL Collections Seminar
Dallas
Training Resources
800.442.5762 ext. 6630
05/03/06
TCUL Bankruptcy Seminar
Dallas
Training Resources
800.442.5762 ext. 6630
05/04/06
Government ACH
San Antonio
SWCACHA
800.442.5762 ext. 6630
05/10/06
TCUL eTools Plus Webinars
Dealing with Subpoenas, Summons,
Garnishments, Tax Levies
Training Resources
800.442.5762 ext. 6630
05/16/06
TCUL Spring Compliance Review
Seminar
Training Resources
800.442.5762 ext. 6630
05/16/06
TCUL Local Training Session
Amarillo
Training Resources
Cost: Free
800.442.5762 ext. 6630
05/17/06
Seminar
Training Resources
800.442.5762 ext. 6630
05/17/06
Lubbock
Training Resources
Cost: Free
800.442.5762 ext. 6630
05/18/06
TCUL Spring Compliance Review Seminar
Training Resources
800.442.5762 ext. 6630
05/11/06
Longview
Training Resources
Cost: Free
800.442.5762 ext. 6630
05/21-24/06
TCUL Southwest Lending Conference
Grapevine
Training Resources
800.442.5762 ext. 6630
05/15/06
Seminar
Training Resources
800.442.5762 ext. 6630
05/23/06
TCUL Management Skills for New
Supervisors
Training Resources
Cost: $289
800.442.5762 ext. 6630
25
TCUL small in size
3/27/06
6:42 PM
Page 26
Small Credit Union
By Allison Castle
TCUL Communications Director for Advocacy
“Small credit unions play a very unique and important role
in the credit union movement here in Texas,” said Val Atkins,
director of small credit union development for the Texas
Credit Union League (TCUL). “I really feel the small credit
unions are at the heart of the movement.”
Something Val feels is unique to small credit unions is the
lack of competition they have with each other. “They don’t
feel threatened by each other, but try to work together,
encouraging one another and sharing information,” she said.
“Small credit unions face the same challenges with the regulatory environment that the large credit unions have. It can
be hard to wear so many hats.
“And, although they may not be able to offer every financial service, they usually have a wonderful relationship with
their members. They know the member when he walks in the
door and they are ready to give not only financial support,
but also emotional support with they are in crisis.”
Hear their perspective on what it’s like to be a small credit
union.
Loyd Patterson, Firestone Community
$19.3 Million Assets
3,831 Members
What motivates you to serve a small credit union?
Working
Together
Sixty Percent of Credit Unions in the
Lone Star State may be Small in Size,
but they are Big on Service.
S
PRINKLED AMONGST THE GROWING SUBURBS, INNER
cities, and rural landscapes of the Lone Star State are
more than 624 credit unions servicing the financial
needs of nearly 7 million Texans. Sixty percent, or 376,
of these credit unions are considered “small”, meaning they
have $20 million or less in total assets.
Among these small credit unions, Women’s Southwest
FCU, is the smallest. They have 578 highly-valued members,
and $1.1 million in assets. Firestone Community FCU has
the most in assets, $19.3 million, but Starr County Teachers
FCU takes the prize for largest membership base in the small
credit union category.
26
I came out of the Savings and Loan industry. They were what
credit unions are today. Because of that, I see we have a
niche—the ability to customize our service and the ability to
be a lot more warm and fuzzy with our membership. If a
member wants to come in and speak to the CEO, it doesn’t
take an act of Congress to make that happen.
[In a small credit union] you still get to see the affects of
what you do—when you help someone that no one else will
help, like making a $500 loan.
That part makes you feel good.
What area or areas of the community are you or the credit
union involved in?
We have a community charter that includes two counties
and one parish in Louisiana. As a credit union, we are
involved with Children’s Miracle Network. There are several area parades and we will have a float in a parade. We also
participate with our SEGs. We participate in events that
they have.
At the beginning of 2005 added two underserved areas.
What is the biggest challenge you face as a small credit union?
The only way that small credit unions will exist is to look bigger than we are. The small credit unions are less competitive
with each other. We have formed a surcharge-free ATM network. This gives the members better access to the services in
ways that we couldn’t afford to do by ourselves.
Last year the hurricanes really impacted us. We were very
blessed that TCUL took good care of us during that process.
TCUL small in size
3/27/06
6:43 PM
Page 27
The League was on the phone with us and by Monday morning,
they had found a credit union to host us. I don’t know that we could
have done it without the assistance of people at TCUL.
Although we learned a lot from the disaster, we still have questions to resolve, such as when do you close the credit union and
when do you open the credit union—in order to be there for the
membership, but to protect the credit union and the staff? We
were up and running by Tuesday and online products stayed up
the entire time.
Committee for
Small Credit Unions
Alamo (San Antonio)
Permian (Midland/Odessa)
Linda Tudyk, Express-News FCU
$7.8 Million Assets
2,759 Members
Kay Rankin,
Ward County Teachers CU
$7.1 Million Assets
1,700 Members
Sherri Schaible, Pamcel FCU
2,377 Members
Teri Portillo, Women’s Southwest
$1.1 Million Assets
578 Members
Terri Portillo, who celebrates eight years in April 2006 as CEO of
the $1.1 million Women’s Southwest Credit Union, shares the benefits and struggles of being a small credit union.
Back in the 1970s, women were unable to obtain credit. Thus
Women’s Southwest Credit Union was born. It now services over 30
common bond women’s organization groups, such as the League of
Women Voters and one underserved area.
Big Spring
Sherry Roman, T&P FCU
$8.8 Million Assets
2,050 Members
Central Texas
Gary Parker, 1st University CU
$14.8 Million
3,478 Members
The personal touch. The fact we can see the difference we make in
peoples’ lives.
We do a lot of education, budgeting with our members. We
tailor the services to the person as they walk in the door. It’s tailored
based on where they are at in their life.
What is the greatest challenge you face as a small credit union?
Lack of funds. Lack of staff. Those two go hand in hand. We put in
countless hours and still always feel behind. A lot of things we want
to do, we don’t have the funds to do them. We are starting checking
accounts for the first time (the credit union was established August
1974) with a $50,000 grant from the U.S. Treasury. [With the
grant] we are able to do more training, purchase software to establish and manage the checking accounts, begin a marketing, loan
and capital initiative, as well as upgrade our website. Without that
money, none of this would be possible. Actually, some of it might be
possible, but on a much smaller scale.
In any given year, we apply for grants with the U.S. Treasury
Grant, National Credit Union Administration, Texas Credit Union
League and the , NFCDCU.
Gracie Sanchez,
Driscoll Foundation CU
$2.3 Million
1,463 Members
Dallas
Terri Portillo,
Women’s Southwest FCU
$1.1 Million
578 Members
East Texas
LaWanda Drennan, Sweetex CU
$10.1 Million
1,218 Members
Fort Worth
Rita Dexter, NRCS FCU
$8.9 Million Assets
1,494 Members
We are in the East Dallas area, close to downtown. We have
expanded our underserved and hope to increase it. In fact, we have
submitted an underserved expansion request to NCUA. We are
surrounded by pay day lenders and pawn shops. The people
around here have no other resources. We accept the matricular.
We are trying to go out to market the underserved area and let
them know they have a choice—they don’t have to pay 17 percent
for a car loan. ★
Texas Crossroads
Betty Shelton,
Guadalupe Valley FCU
$4.7 Million Assets
1,118 Members
Ronda Nichols,
Texarkana Terminal Emp. FCU
$8.1 Million Assets
1,507 Members
Asset Category
Directors
Under $10 Million
Carol Murray,
Southeast Community CU
$4.7 Million Assets
1,170 Members
$10 - $20 Million
Suzanne Chism,
Texas Health Resources CU
4,035 Members
TCUL Liason
Houston
What area or areas of the community are you or the credit union
involved in?
Loyd Patterson,
Firestone Community FCU
3,831 Members
Wright Patman
Coastal Bend
What motivates you to serve a small credit union?
Sabine
Lynda Milton,
Houston Teamsters FCU
$4.1 Million Assets
1,608 Members
Val Atkins,
Small CU Development
Magic Valley (South Texas)
Emma Gonzalez, Starr County
Teachers FCU
4,350 Members
27
Allied Solutions
3/28/06
10:30 AM
Page 28
TCUL regulatory
3/27/06
1:56 PM
Page 29
Regulatory
By Christiane Gigi Hyland
Member, NCUA Board
The BASICS
S
O HERE’S A BRAND NEW MAGAZINE—A NEW SOURCE FOR CREDIT
union professionals and volunteers alike to gain insights on ways
to better serve credit union members. Knowing that this is the first
issue and knowing that I am writing this article in February, a
couple months before the April release date, I ponder what the coming
months will bring for credit unions. What will become of the current field
Staying vibrant in the financial marketplace requires
understanding the demographics of your membership.
29
TCUL regulatory
3/27/06
1:57 PM
Page 30
of membership litigation in Utah and Pennsylvania? What will be
the result of the agency’s efforts to measure service to members? Will
there be more credit union conversions to mutual savings banks?
While these issues are undoubtedly important and potentially
defining for the future of the credit union system, I want to focus
this article on the basics.
As the great credit union philosopher, James Carville, once noted,
“It’s about the members, stupid.” There is no way to put it more
bluntly. Credit unions exist to serve their members. Period. End of
story. Remember the motto of the credit union system? “Not for
profit, not for charity, but for service.” The devil, if you will, is not
in the “what,” but in the “how.” In other words, how do your credit
union’s initiatives, projects and strategic plan integrate the basic
premise of service to all of your members?
Fall is usually the season when credit unions are refining their
budgets and plans for the next year. As you undergo your planning
for 2007, give some thought to whether the credit union’s efforts
really leverage all the opportunities within your field of membership. Does your credit union truly live the credit union motto?
What are your credit union’s demographics? Do you understand
the different needs and service delivery preferences of your Baby
Boomers and your Echo Boomers? Do you combine financial literacy training with products that assist lower income members to
build wealth and financial stability? Do you participate in programs
As the great credit union
philosopher, James Carville, once
noted, “It’s about the members,
stupid.” There is no way to
put it more bluntly. Credit unions
exist to serve their members.
Period. End of story.
that promote financial education to the youth within your membership? Do your community efforts align with the uniqueness of
your field of membership?
Coming from “the regulator,” these questions may appear
patronizing. They are not meant to be. Rather, these questions
come from someone who wants to assure credit unions continue to
be a vibrant part of the financial services marketplace. These questions are from someone who has worked in the credit union system
her entire professional career and who knows the difference credit
unions make in the lives of their members. These questions are
really designed to reconnect the business of credit unions with the
mission of credit unions. I believe the two are inseparable. Volunteer boards and paid management need to annually assess how the
business plans support the mission of serving your credit union’s
particular field of membership.
As you finalize your credit union’s plans for 2007, spend some
time on the basics. Look at the opportunities that surround you and
leverage them for the benefit of your members. Take time to reflect
30
on how your credit union is different from other local financial service providers. Figure out how you demonstrate that difference to
your members in the products, services and information you provide. Credit union uniqueness begins and ends with your commitment to serve your members.
Regulatory Q&A
TCUL’s Information Central
Q: What is an “estate” and what accounts are included in an estate?
A: In the context of deceased members, an estate includes the pos-
sessions of the deceased member that are subject to probate (administration supervised by a probate court) and distribution to heirs
and beneficiaries. Funds in a deceased member’s accounts for which
there are no named beneficiaries or no joint account owners with
survivorship rights become property of the estate.
If a member dies with a will, the probate court will appoint an
executor as named in the will to distribute the assets of the estate as
instructed by the will. If a member dies without a will, the probate
court will name an administrator to distribute assets of the estate
according to Texas laws of intestacy.
Q: If a person brings in a will naming her as executor of the estate of
a deceased member, may we release funds to her?
A: No, the credit union should not release funds if a will is the only
document presented. A will is not valid until it is approved by a probate court. Members of the decedent’s family, even if named in the
will as heirs or executor, have no right to the property described in
the will, and no authority to act under the will, until the probate
court says so. If the will is approved, the probate court will issue
“Letters Testamentary,” attested by a seal of the court, stating the
qualification of the executor, the date, and the name of the deceased.
When presented valid letters testamentary, the credit union may
release funds to the executor via a check made payable to “The estate
of (Deceased Member).”
Q: What is a “P.O.D. Account”?
A: In a payable-on-death account (“P.O.D. account”), the account
owner controls the funds during his lifetime. When the account
owner dies, the funds in the account shall be divided equally
between the persons listed on the account card as P.O.D. beneficiaries. This is a simple alternative to the probate process, which can
be both slow and expensive.
The credit union may immediately release the funds to the beneficiaries after verifying the death of the account owner (obtain a certified copy of the death certificate) and verifying the identity of the
beneficiary. The credit union need not hold the funds for an executor or administrator of the estate, as these funds pass outside the
probate process.
If only one beneficiary is listed and he or she pre-deceases the
account owner, funds in the account after the death of the account
owner will become property of the deceased person’s estate. If mul-
TCUL regulatory
3/27/06
2:00 PM
Page 31
tiple beneficiaries are listed, and one dies prior to the death of the
account owner, the funds shall be divided equally between the
remaining surviving beneficiaries. In other words, heirs of a
deceased beneficiary may make a claim to funds in a P.O.D.
account only if the beneficiary survived beyond the account
owner’s date of death.
Q: A man presented a power of attorney signed by his mother naming him as an attorney-in-fact. He requested to withdraw funds from
her account. The credit union knows that the mother died recently;
however, the POA form says, “this power shall survive my death”.
What should the credit union do with the funds?
A: Powers of Attorney (“POA’s”) terminate immediately when the
principal (the person granting the power) dies. An attorney-infact is merely an agent for the principal and can only take actions
that the principal could take herself. Since the principal can no
longer act after death, the agent loses any power to operate under
the POA form. The language purporting to stretch the power
beyond death is invalid.
If the account does not include any joint owners or beneficiaries,
the credit union should hold on to the funds until contacted by the
executor or administrator of the estate.
Q: What are “ survivorship rights”?
A: Members may choose to set up a joint account “with” or “with-
out” rights of survivorship. In both types of accounts, all joint owners own the account in proportion to each party’s net contribution.
However, the credit union may pay any sum in the account to any
party at any time.
In a joint account “with” rights of survivorship, both parties
jointly own the funds during their lifetimes. At the time of death of
one owner, all sums in the account immediately belong to the surviving account owners, thereby avoiding the probate process. The
heirs of the deceased have no claim to funds in the account.
In a joint account “without” rights of survivorship, on the death
of a party, the deceased party’s ownership interest in the account
passes as a part of the party’s estate by will or intestacy, thereby entering the probate process.
Q: How can our credit union learn more about how to handle
accounts of deceased members?
A: Attend Texas Credit Union League’s (TCUL) Local Training
Sessions heading your way! For more information on the local
training sessions, contact Sharon Kinard at (469) 385-6636. You
may also visit the Education section of TCUL’s web site at
www.tcul.coop.
For assistance with compliance issues surrounding the death of
your members, contact TCUL’s Information Central at 800-4425762, Ext. 8515 or visit the TCUL Infosight Compliance Manual
available online at www.tcul.coop under “Regulatory Issues.” ★
31
TCUL chapter roundup
3/30/06
2:26 PM
Page 32
The Roundup
TCUL Council Program
Membership within any of the Texas Credit Union League’s councils provides
valuable educational programs and resources relevant to specific issues occurring within one of the seven areas of credit union management.
• Compliance
• Human Resources
• Marketing
• Technology
• CFO
• Lending
• Operations
Most notably are the council roundtables offered throughout the year. Council hosted roundtables provide an open learning environment encouraging
dialogue between participants and presenters. Participation in any of the
council roundtables is open to council and non-council members for an nominal fee ($40 fee per credit union of host council members and $55 per credit
union per credit unions of non-council members).
Upcoming Roundtables:
April Operations Council
ACH Rule Changes
May
Human Resource Council Defining Internet Applicants
Compliance Council
Disaster Recovery & Security of CU Systems
July
Lending Council
Deposits Strategies& Programs
he Texas Credit Union League
(TCUL) has a long-standing tradition
of honoring Texas credit union leaders
who have passed away during the past 12
months. These individuals are memorialized at TCUL’s Annual Meeting & Expo.
At this year’s meeting, the following
individuals were honored:
For additional information regarding TCUL’s councils please contact
Director of Chapters & Councils, Lucinda Rocha at (800) 442-5762, Ext.
6413. For email please send inquiries to [email protected].
Darrell Glenn
May 30, 2005
TCUL Chapter Program
Lawrence Alexander Harpin
August 23, 2005
The Chapter Program is essential in promoting the credit union philosophy
and the movement’s cooperative spirit. Chapters are the focal point for all
League programs for credit unions.Credit union professionals are strongly
encouraged to participate in local chapter programs and to take advantage of
the resources offered through the TCUL Chapter Program.
Chapter Liaison Program:provides a link between the chapter
and the Texas Credit Union League.
Chapter Forum: on-line communication channel for chapter
members to share program ideas, best practices, post challenges
and receive possible solutions.
Chapter Monthly Report: highlights the League related products,
services and trainings available to all credit unions within the arenas
of Legislative and Political Advocacy, Regulatory and Compliance
Development, and Credit Union and Personal Development.
Chapter Recognition Program: celebrates the success of chapters by
expanding their involvement in the areas of: Education, Public
Relations, Community Service, Fundraising, Political Advocacy,
Chapter Involvement and Credit Union System Participation.
For more information on the Chapter program, please visit the TCUL web site
at www.tcul.coop or contact Lucinda Rocha, at (800) 442-5762, Ext. 6413
32
T
Edward J. Pavelka, Jr.
August 26, 2005
Dorothy Padgett Haga
September 28, 2005
Fred Griffin
October 23, 2005
Gary Kerr
October 23, 2005
Elsie Daze Marsh
November 3, 2005
Ken McDaniel
November 23, 2005
Herbert Lee
December 24, 2005
Karen Lane
December 25, 2005
Earnest Askew
January 16, 2006
John Edward Meador
February 28, 2006
Southwest Corporate
3/27/06
5:29 PM
Page C3
CMG Discovery_Las Vegas
3/31/06
2:42 PM
Page C4

TCUL contents - Cornerstone Credit Union League

Transcription

Similar documents

RESP 6x4 CMYK 150902

Welcome to WESTconsin Credit Union

FAMILY MEMBERS WELCOME - ACIPCO Federal Credit Union

THE TEXAS HEAD START DIRECTORS` ROUNDTABLE

They walked the line

Silver Hill - Democracy Federal Credit Union > Home

BRAZOSP RT - Brazosport Teachers Federal Credit Union

June 2012 - the UltraData Enterprise Users Group

Wednesday, Dec. 12, 11 am to 1 pm Texins Activity Center

BMC Case History - Mobiloil