Real Solutions - A National Credit Union Foundation Program

Yesterday I had the pleasure of talking to a representative from the FDIC who sought our advice on how financial instutions can provide access to affordable transaction products. I was able to give her a host of credit union examples as well as share our product toolkits with her. In talking with her I found that FDIC has just completed a “National Survey of Unbanked and Underbanked Households”... (continue reading)

In my work I get to see the very best of what credit unions do to serve their members…and sometimes I find something extraordinary to learn about and to share to our REAL Solutions readers. One such place is Harbor One Credit Union’s Multi-Cultural Banking Center.

I, along with our field coaches and league liaisons, had the opportunity to visit the center and to see first hand credit union philosophy – I mean business philosophy working. This sustainable banking operation builds solid partnerships to bring the best of financial and social services to unbanked working immigrants.

At the same time the financial services are affordable but are sustainable building reserves for other members. For this reason, I asked Field Coach Mark Meyers to delve into what it takes to build this operation so that other credit unions can determine if they too can offer immigrants sterling service….

Jim Blake President/CEO was clear this was a business decision for them – a good one as the credit union has seen double digit growth in both membership and assets in recent months. This is a must-read.

Click here to download the HarborOne Business Strategy Highlight.

The current economic environment has had major impact on American families and the credit unions that serve them. Each quarter 250,000 families are losing their homes to foreclosure. Countless others have voluntarily surrendered collateral in an attempt to save their homes. Unemployment is high many areas also causing rising delinquency within credit unions.

On another note, the failure of more than one major banking institution has consumers looking for a safer alternative. Many are turning to credit unions as a place they can trust.

Given this, we want to ask you:

Why is this true for your shop? We’d love to hear from you in the comments.

Immigrants come to the United States for many reasons, most seeking a chance for a better life for their families and children. This past century of credit union service to the nation parallels an era of immigrant growth that continues today.

While membership growth and market share are slowing, serving immigrant populations answers both philosophical and business needs for credit unions.

Click through to read more and access our free whitepaper.

Government Employees FCU CEO Carla Decker talks about the long-term implications of engaging and empowering immigrants with financial services and development.