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MoneyAndStuff makes the "money talk"
painless
Many parents try to talk to their children about making
the right choices when it comes to smoking, drinking, and
dating. But many fall short when it comes to the "money
talk," revealed a study commissioned by the Ohio Credit
Union League. Thanks to MoneyAndStuff, the League's new
statewide financial education initiative, the "money talk"
is now the easiest talk to have with kids.
MoneyAndStuff is off and running, and will position Ohio credit unions as resources of and experts
in financial education. The
first three stops of the statewide media tour were
completed Nov. 20 & 21 and Dec. 13 in Cleveland, Kent, and
Youngstown. The League is encouraged by the turnout and
support from credit union leaders, legislators and elected
officials, school administrators, teachers, parents, and
students. MoneyAndStuff received print, radio, and
television coverage in Northeast Ohio. “We are truly off
to a great start and this is just the beginning,” said
League Outreach Manager Laura Busque. The media tour will
continue making its way across Ohio in the coming weeks and
months including stops in Lima, Toledo, Dayton, and other
cities.
As Ohio credit unions step up their financial
education commitment with MoneyAndStuff, the League's goals
include:
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Meeting a significant public need through leadership
and coordinated action by League-member credit unions. |
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Offering a unique service and resource to emerge from
the clutter. |
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Building dependence on the League
and Ohio credit unions as expert sources for the media
and elected officials. |
Rather than reinventing the wheel, the League has
taken curriculum from the National Endowment for Financial
Education, BizKid$, ThriveByFive, and other high-quality,
respected financial education instructional programs and
packaged them to create MoneyAndStuff. The resources are divided into core
financial concepts for various age groups and knowledge
levels, making it easy to identify and choose materials.
These user-friendly financial education tools are
universally available via the Internet at
www.MoneyAndStuff.info for parents, educators,
students, and
credit unions at no cost. Thanks to MoneyAndStuff,
financial education has become an accessible, turnkey
opportunity.
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Students
of Woodland Hills Elementary school in Cleveland
test drive the MoneyAndStuff Web site while League
Outreach Manager Laura Busque explains the site's many features. |
League
Director of Media Relations Patrick Harris hands
out MoneyAndStuff t-shirts to students of Theodore
Roosevelt High School in Kent after the financial
education initiative's launch event. |
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Austintown Fitch High School students cruise
MoneyAndStuff.info during the initiative's launch in
Youngstown. |
Ohio
credit union leaders and State Rep. Ron Gerberry
after filming a panel discussion about financial
education and MoneyAndStuff, which will air on
Youngstown's local cable channel. |
Implementing MoneyAndStuff is as easy as 1…2…3…4
The
MoneyAndStuff.info Web site is now available for your
credit union to begin using and promoting. It is a
one-stop, user-friendly resource for financial education,
stocked with lesson plans, tips, games, curriculum, and
more for your credit union to promote to local schools.
Consumers from Ohio and across the nation, as well as
other countries, have visited the site since its launch
in November.
You can use the following four steps to begin building your credit
union’s MoneyAndStuff relationship with schools in your
community.
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1. |
Log on to
www.MoneyAndStuff.info and familiarize
yourself with all that the site has to offer. (Add a
link to
www.MoneyAndStuff.info on your credit union's Web
site.) |
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2. |
Talk to your contact in the local school system
about MoneyAndStuff. If you do not have a relationship
with a school, call the superintendent, school
principal, or curriculum director to introduce
yourself and discuss the importance of financial
education and the resources you have available. |
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3. |
Schedule a meeting with your school contact and
discuss the best way to implement MoneyAndStuff. Make
sure you have access to the Internet so you can
demonstrate
www.MoneyAndStuff.info and explain its value
to teachers, parents, and students. |
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4. |
Volunteer
your staff to teach financial education to
students in any and all grades. Create a regular
schedule for financial education sessions at your
local
schools. |
In
2006, the Ohio General Assembly passed legislation that
requires all public high schools to teach personal finance
skills by 2010. With MoneyAndStuff, Ohio credit unions
are providing schools with a head start on this mandate.
Some educators may not be aware of this requirement
(Senate Bill 311), so be sure to mention it in your
discussions.
Soon your credit union will receive its MoneyAndStuff
toolkit filled with information and resources for meeting
with your local schools. In the meantime, feel free to
contact the Ohio Credit Union League’s MoneyAndStuff team
with questions. League VP of Public Affairs
Becky Hart, Director of Media Relations Patrick Harris,
Director of Member Communications Katie Walton, and
Outreach Manager Laura Busque are available to offer
suggestions and provide guidance to ensure your success.
Contact any of them by calling (800) 486-2917.
Take
advantage of consumer-CU matching Web site
Since
going live Nov. 19, the MoneyAndStuff.info Web site has
been accessed by hundreds of visitors. Among
MoneyAndStuff.info’s many resources is the ability for
consumers to find a credit union that they are eligible to
join using FindACreditUnion.com (formerly CUMatchUp.org).
FindACreditUnion.com matches consumers with credit unions
based on where they live, work, worship, or attend school.
Credit unions that are members of the Ohio Credit Union
League can list their information on the Web site at no
cost. Currently, only half of Ohio credit unions are taking
advantage of this complimentary member development
resource that is accessed by hundreds of Ohioans each month.
To create or update your credit union’s FindACreditUnion.com record, visit the link below, click
on “Update Your Record” at the bottom of the page, and
enter your assigned user ID and password. To ensure your
credit union is returned in all relevant searches, enter
every select employee group, city, ZIP code, and county
that your credit union serves. To obtain your credit
union’s user ID and password, contact League Director of
Member Communications Katie Walton at (800) 486-2917 or
kwalton@ohiocul.org.
http://www.findacreditunion.com/
Siler named winner of OCUF
memorial scholarship to attend GAC
The Ohio Credit Union Foundation is pleased to announce
that Lynn Siler of Libbey Federal Credit Union has been
awarded the
2007 Richard Blake Scholarship to attend the Credit Union
National Association’s Governmental Affairs Conference.
Lynn is excited about the conference and looks
forward to the visits with Congressional members to “share
her passion about small credit unions.” She is actively
involved in the Northeast Chapter and is
looking forward to being involved in such a worthwhile
event as the GAC.
Ohioans
attend and present at summit on reaching youth
Thirteen
Ohio credit union leaders attended the Credit Union
National Association’s 2007 YES Summit, Dec. 3-5, in
Austin, TX, to learn how credit unions throughout the
United States are successfully serving young adults. Key
topics explored at the summit included blogging, credit
worthiness, asset building, money management, and
emerging markets. Attendees interviewed young adults and
developed innovative programs and services that would
appeal to the Gen Y market.
First Miami university Student & Alumni FCU Co-Presidents/CEOs Gabe
Martin and Katie Aiken joined Managing Director Joel Niekamp to present the challenges of and their strategies
for providing financial education to the credit union's Gen Y field of
membership -- Miami University students. They recommended establishing relationships at
an early age, involving parents, offering food at
informational sessions, providing service incentives, and
using technology to reach and teach members and potential
members. The credit union relies upon student suggestions
when planning future financial information sessions, and
has found that credit and money management are the two
most requested topics. By using real-world examples,
attendees’ interests are piqued and a level of trust is
created that extends into other credit union services.
Ohio credit union leaders from BMI FCU, CSE
FCU, Community Star CU, Corporate One FCU, Dover-Phila
FCU, First Miami University Student & Alumni FCU, Marion Community
CU, the Ohio Credit Union League, PACO FCU, School
Employees Lorain Co. CU, and Wright-Patt CU attended. |
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Attend the
conference you crave,
Apply for a Foundation grant
Professional and volunteer development is not just for credit
unions with large training budgets.
Federal and state regulations require credit unions to provide
for the education and training needs of its directors,
committee members, senior management, and employees.
Professional development scholarship grants
are available through the Ohio Credit Union Foundation (OCUF),
and every credit union is encouraged to take advantage of
opportunities to enhance its member service, increase employee
knowledge, and improve its bottom line. Grants can be used for an array of educational programs,
including conferences, seminars, workshops, Webinars, eSchools,
and self-study programs. If you are interested in applying for
an grant, visit the Foundation Web site at
the link below for applications and information,
or contact League Outreach Manager Laura Busque at (800)
486-2917 or
lbusque@ohiocul.org.
http://www.ohiocreditunions.org/Foundation/Foundation.htm
The following are upcoming professional and volunteer
development opportunities:
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Winter
Operations Forum
Jan. 26-30 -- Queretaro,
Mexico
Explore new ways for credit unions to reach the
growing Hispanic market through discussion on topics such
as cross channel risk, risk management, FedACH
International services, and international payment systems.
Attendees will visit a Mexican credit union office and rural branch to gain a
better understanding of the international credit union
system.
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CUNA
Governmental Affairs Conference
March 2-6 -- Washington,
D.C.
The nation’s largest credit union governmental affairs
conference offers the opportunity to network with peers,
hear from key legislative and political leaders, and
experience a variety of breakout sessions on hot credit
union issues. OCUF grant funds can cover conference
registration.
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OCUL
Small Credit Union Conference
March 11
-- Dublin, OH
As a small credit union, you play an important role in
the lives of your members and in the Credit Union
Movement. The full-day conference focuses on ways to stay
strong, viable, and efficient.
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OCUS
ZENITH08
April
24-25 -- Columbus, OH
Get a look at the newest concepts cresting the edge of
awareness, insight into the future of credit unions, and
ideas for modernizing your business plan.
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OCUL
Regulatory Compliance Conference
May 14-15
-- Dublin, OH
Stay up-to-date with compliance information and hear
from industry experts on compliance challenges
facing credit unions today. |
Statewide
financial education showcases are a success
The Ohio
Credit Union League wrapped up a series of statewide financial
education workshops Nov. 7 in Chillicothe. Seventy-eight
credit union professionals representing 55 credit unions
attended the four seminars showcasing free financial
education resources, including MoneyAndStuff. Attendees
reviewed the Ohio Credit Union Foundation’s grant process,
worked in small groups to create multi-age activities, and
shared ideas for working with local schools and select
employee groups. Five credit union leaders detailed their
financial education success stories with seminar attendees
during the lunch portion of the program. The following
success stories were shared by credit union leaders
during the workshops.
Success in partnering with schools
In 2006, AurGroup Financial Credit Union mailed 150
letters to local educators that yielded 75 financial education
presentations, according to Community Outreach Coordinator Amy Gary. She recommends presenting
topics such as credit concepts, budgeting, checking basics,
savings, and investing to students. AurGroup Financial CU uses
Pizza on a Budget to teach 4th and 5th graders about
identifying costs and benefits, Reality Day to teach middle
school students about the financial decisions that they will
face upon graduation, and The Budget Game to help high school
students understand the importance of managing money.
Attracting and teaching youth members
L.C.E. Federal Credit Union uses several programs to
promote financial education, according to Business Development Leigh LaPlante.
Children ages 5 to 15 are eligible for the Life Savers Club,
which rewards participants as they reach their savings goals.
Young adults ages 16 and 17 can obtain a credit/debit card
after attending a financial education class that discusses the
importance of saving, investing, and the difference between
good and bad credit.
In-school savings programs
Geauga Credit Union has offered the Saving for the Future
program to students of Troy Elementary for several years, says
Office Manager Lisa
Briggs. Weekly deposits are encouraged to reach a savings goal
established at the beginning of the school year. Children
receive rewards, such as coupons for ice cream or roller
skating, as portions of their goals are met. The
children realize that saving money can be fun and easy, said
Briggs. The credit union also publishes a financial education
column, “Centsible Kids,” in a local newspaper and partners
with the local Ohio State University’s extension office for
the Real Money, Real World program.
Helping local adult community
Great Lakes Credit Union offers two programs
to assist adults within its field of membership, said Branch &
Marketing Manager Marybeth Sund. Cooperating with local community groups, Bridges Out of
Poverty helps impoverished women with dismal credit histories
save money and become creditworthy. The women receive
financial education and money management assistance while
working toward long-term savings goals. The credit union
reaches out to residents of its local senior community with
Traveling Teller services. A teller visits
on select days to provide check cashing, deposits,
withdrawals, and perks such as discounted movie tickets and
postage stamps.
Special event educates large audience of teens
Approximately 400 local high school seniors attended
Superior Federal Credit Union’s fourth annual Superior
Financial Education Day, according to Marketing Director Kurt Neeper. The all-day event
included financial education sessions conducted by local area
experts and a keynote address by Ohio Treasurer Richard
Cordray. Sessions focused on checking account management,
investment, and credit. Students put into practice what they
learned during Reality Day, which provides a hands-on
simulation of income and expenses in the “real world.” The
credit union’s involvement in promoting identity theft
awareness and voter registration has had a positive impact on the
community’s youth.
Cutting-edge outreach initiatives
The following
are program ideas from the Filene Research Institute’s i3,
the think-tank’s work group of innovative, insightful, and
energetic credit union professionals, who have not yet reached
the CEO level, but are in positions with substantial
responsibility.
Give With Us
A
Web-based gateway to connect credit union members with
volunteer opportunities, interest groups, local events, and
activities in their communities. It contains blogs that allow
visitors to post their information and volunteer for events
and activities that they find appealing. Credit unions can
strengthen their community presence by encouraging their
members to share their thoughts and ideas, engage others in
dialogue, and build relationships that can have a lasting
impact on the community.
Decision Point
A financial planning tool designed to help credit union
members organize, monitor, and/or manage their elderly family
members’ financial affairs. The program can assist with short-
or long-term finances. Rather than thinking of financial
planning as a reactive measure, aging parents can proactively
prepare their financial affairs using the service so their
children are not burdened with it later. Credit unions can
assist their members by providing financial solutions that
address the aging process from the “planning” to the “crisis”
stage.
CUPick64
A financial education game designed to engage young adults
ages 16 to 25. The game provides a real-time stock market
simulation, fashioned after the “fantasy leagues” popular
among sports enthusiasts. Players pick stock teams on a weekly
basis and earn points based on the stock winner. After six
weeks, the player with the most points wins. To succeed,
players have to view the financial tutorials that accompany
the game. Credit unions can capture the interest of the Gen Y
market by providing a financial education tool that meets
their needs and communicates to them in a familiar way.
Always a Member
A Web-based, online referral database that identifies
credit union branches in close proximity to a member’s new
geographic location. The program was created to help credit
union members transfer their membership to another credit
union without a hassle when moving to a new residence. Credit
unions that utilize this program operate as a national network
of cooperatives.
Grants
Spotlight
Professional Development:
Barbara Courter of St. Helen Federal Credit Union received an
Ohio Credit Union Foundation (OCUF) professional development
grant to attend the League’s Credit Union Forum on Public
Affairs in October. Thanks to the grant, Courter was able to
interact with her state legislators and learn about the
financial education strategies utilized by credit unions in
Ohio. “I hope to become more involved with
community action in the near future,” said Courter. “I really
enjoyed interacting with my legislators.”
Outreach: The Summit
Chapter received a Foundation outreach grant for half of the
cost of an 800-number for the Akron Earned Income Tax Credit (EITC)
Coalition’s Volunteer Income Tax Assistance (VITA) sites. The
Summit Chapter has been involved with the board of the
coalition since it was formed in 2003, and its credit unions
have been strong players in the coalition
through their volunteer efforts. More than $2.8 million in
federal and state tax refunds has been returned VITA site
users. Residents can call the 800-number 24/7 to schedule
appointments or to volunteer to provide assistance at the VITA
sites. The chapter is committed to assisting low- to moderate-income residents of Summit County by partnering with the EITC
Coalition of Akron to provide a free tax filing service. In
its first year, the EITC Coalition of Akron processed 240 tax
returns in 2004 to low- to moderate-income residents of Summit
County. In 2007, 1,614 tax returns were processed.
Disaster Relief: Four Ohio
credit unions have received OCUF disaster relief grants to
provide aid to the residents in Northwest Ohio who were
impacted by the August flood.
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Millstream Area Credit Union received two disaster relief
grants from OCUF to assist their members and community in
rebuilding. Millstream Area Credit Union distributed $250
gift certificates with each disaster relief loan
application completed by Hancock County homeowners. The
gift certificates were used to replace home furnishings
damaged by flood waters. A portion of the funds received
by the credit union were allocated to the art department
at Central Middle School, which serves 400 “at-risk”
students annually, to replace instructional items
destroyed by the flood.
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Empire
Affiliates Credit Union, a division of Toledo Area
Community Credit Union, received a disaster relief grant
from OCUF to assist the Shelby City School System. The
grant application was written in partnership with Gorman
Rupp & Associates Credit Union. Two of the district's
buildings and the football field were damaged by the
August flood. The grant funds will be used by teachers
who lost most, if not all, of their
instructional materials, including textbooks, activity
kits, physical education supplies, and technology
equipment.
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Midwest
Community Federal Credit Union received a disaster relief
grant from the OCUF to provide assistance to Ottawa
families. Midwest Community FCU launched an unsecured
deferred-interest loan program to help residents cover the
costs of rebuilding. The flood relief program offered
loans at 0% APR interest for the first 90 days, adjusting
to 6% APR on the 91st day. Because the families affected
by the flood had varied needs, Midwest Community FCU
offered $100 gift cards to the first 100 families that
applied for flood relief loans. To ensure that the entire
community was assisted, Midwest Community FCU waived its
membership fee.
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Superior
Federal Credit Union received a disaster relief grant from
OCUF to provide aid to its 400 Ottawa members. The credit
union used a portion of the funds to help 16 teachers
replace instructional supplies destroyed by the August
flood. The remaining grant dollars were used to aid
members who were displaced from their homes by the flood.
Superior FCU matched the grant funds and cut its consumer
loan rates for affected members to 5.50% APR. |
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Get your own copy
of the
Above and Beyond
If you've received this eNewsletter from a colleague and
would like to receive your own copy, simply request to be added to
the distribution list. E-mail League Outreach Manager Laura Busque
at lbusque@ohiocul.org
and let her know you'd like to receive Above and Beyond. |
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Legislators Praise MoneyAndStuff
“I want to thank
the Ohio Credit Union League and Ohio credit unions for
extending their hand to educators, students, parents, and
legislators by creating MoneyAndStuff. I know it will be a
great program and it will do a lot of good.”
State Rep. Ron Gerberry
(D-Austintown), speaking to high school students,
educators, public officials, and credit union leaders at
the MoneyAndStuff event in Austintown
“I want to
commend the credit unions for stepping up to the plate …
When I was your age, I was labeled ‘slow.’ I had a speech
impediment. And now, public speaking is what I do as a
job. I was able to graduate with honors from college. So
never give up on your dreams.”
State Senator Lance Mason
(D-Cleveland), speaking to 4th graders, educators, public
officials, and credit union leaders at the MoneyAndStuff
launch in Cleveland
“The educational tools of MoneyAndStuff will keep
students from getting into a personal financial crisis and
is a cost-effective way of dealing with the debt cycle for
students, teachers and parents so they can become smart
savers and smart borrowers."
State Senator Tom Sawyer
(D-Akron), speaking to high school seniors, educators,
public officials, and credit union leaders at the
MoneyAndStuff event in Kent
“I support your efforts. [Financial education] is an area
that needs a lot more effort than it is currently
getting.”
State Senator Dale Miller
(D-Cleveland), in an e-mail to the Ohio Credit Union
League
Community
Investment
Fund (CIF)
Raised
in 2007: $146,000
Goal for 2008: $169,000
New CIF
Investors in 2007:
Classic
FCU
FirstDay Financial FCU
Mercy Health Partners FCU
Taleris CU
Total Assurance FCU
Increased
CIF Commitment:
Corporate
One FCU
Dover-Phila FCU
Ohio Credit Union Foundation
Thank you to all of the
credit unions and business partners that have invested in
the CIF.
The investments help support educational and outreach
initiatives that promote financial independence through
credit unions. for more information about CIF, contact
League Outreach Manager Laura Busque at (800) 486-2917 or
lbusque@ohiocul.org.
Stretch
Pay
Participants YTD:
35 credit
unions with 121 branches in five states and the District of
Columbia; and two state leagues
Asset
Size of Participants:
$25
million or less: 5
$25-49 million: 8
$50-100 million: 12
More than $100 million: 10
StretchPay Loans YTD:
51,271
loans
The following credit unions offer StretchPay, the credit
union salary advance alternative.
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Affinia FCU
Dayton, OH |
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Atomic Employees CU
Waverly, OH |
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AurGroup Financial CU
Fairfield, OH |
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Bay Area CU
Oregon, OH |
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Cintel FCU
Cincinnati, OH |
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Communicating Arts CU
Cincinnati, OH |
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Community United CU
Strongsville, OH |
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Day Air Credit Union
Dayton, OH |
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Department of Labor FCU
Washington, D.C. |
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Eaton Family CU
Euclid, OH |
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Fiberglas FCU
Newark, OH |
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FirstDay Financial FCU
Dayton, OH |
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First General CU
Muskegon, MI |
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Harvest FCU
Heath, OH |
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Howmet CU
Whitehall, MI |
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Incenta FCU
Dayton, OH |
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Kemba CU
Cincinnati, OH |
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KEMBA Financial CU
Gahanna, OH |
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Kent CU
Kent, OH |
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LEO CU
Painesville, OH |
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MidState Educators CU
Columbus, OH |
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Midwest Community FCU
Defiance, OH |
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Millstream Area CU
Findlay, OH |
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Ohio University CU
Athens, OH |
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Parish FCU
Toledo, OH |
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Powerco CU
Gahanna, OH |
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Reward One CU
Brook Park, OH |
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Seven Seventeen CU
Warren, OH |
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St. Agnes Employees FCU
Baltimore, MD |
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Sylvania Area FCU
Sylvania, OH |
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TeleCommunity CU
Akron, OH |
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Toledo Area Community CU
Sylvania, OH |
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Unity Catholic FCU
(formerly St. Charles
Borromeo Parish FCU)
Parma, OH |
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Western CU
Columbus, OH |
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Wright-Patt CU
Fairborn, OH |
Notable quotes from
Ohio Credit Union Foundation grant recipients
“I have
developed a network with 55 credit union executives across
the country thanks to the CEO Institute. I feel that my leadership skills
have greatly improved due to this experience.”
-- Julia Gee
Ohio Catholic FCU
“While at the [Credit Union National Association’s
Governmental Affairs Conference], I was able to visit with
legislators and learn their views on issues affecting the
credit union movement.”
-- Sandy McCormick
Total Assurance FCU
“I learned a lot about what the credit union movement
is doing abroad and about some of the toughest challenges
that lie ahead at the [National Credit Union Foundation’s]
Development Education Program.”
-- Jennifer Cole
Cardinal Community CCU
Fellow attendees of “CUNA’s Management School have proven
to be a great resource. We have e-mailed policies to each
other and taken suggestions from each other. The
networking has proven to be a very valuable tool.”
-- Anita Walters
L.C.E. FCU
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