Wednesday, December 13, 2017

Post-Loan Mechanical Repair Coverage Now Includes ForeverCar Marketing Program for Credit Unions

We're adding a new marketing program, powered by ForeverCar, to our MEMBER’S CHOICE® Mechanical Repair Coverage (MRC). Combining traditional and digital marketing, ForeverCar’s platform can help credit unions reach members with an eligible vehicle, even if that vehicle has no loan or is financed somewhere else.

The expanded marketing program will help credit unions connect beyond the traditional loan officer transaction through targeted email marketing, social media digital ads and direct mail. The program also provides the ability to co-brand the consumer-facing platform that helps members research, compare and purchase extended service protection plans.

Earlier this year, ForeverCar and CUNA Mutual Group partnered with Neighbors Federal Credit Union, headquartered in Baton Rouge, La., to pilot the new marketing program to help the credit union identify members who were in need of extended coverage for auto repair costs. The credit union reported the new program increased its MRC sales by 128 percent compared to 2016 sales.1

“The new MRC post-loan program expanded our reach to more members, helping them limit the cost of repairs,” said Marc Walls, vice president for consumer lending, Neighbors Federal Credit Union. “It took minimal staff time to get this channel up and running quickly, and our initial campaign results have been better than expected.”

ForeverCar was one the first InsurTech investments for CMFG Ventures, the venture capital entity of CUNA Mutual Group. CMFG Ventures actively engages and evaluates startup investments in data and analytics, consumer lending and asset protection technology, and advanced mobile channels that best support credit unions in serving their members with new and innovative technology products and services.

Tuesday, December 12, 2017

Chartway FCU and STCU Choose AdvantEdge Analytics

Today, we announced Chartway Federal Credit Union, with $2.1 billion in assets, headquartered in Virginia Beach, Virginia, and STCU, with $2.6 billion in assets, headquartered in Spokane, Washington, will partner with CUNA Mutual AdvantEdge Analytics  to implement integrated data management and analytics services.

Both Chartway and SCTU are looking to AdvantEdge Analytics to help them strengthen operational excellence through data management and build out their data analytics capabilities with improved reporting and performance management. Both have also signed on as charter members. They will offer industry insights and strategic guidance to enhance AdvantEdge Analytics to benefit the credit union industry.

AdvantEdge Analytics provides an industry-leading integrated suite of software, analytics and business intelligence tools. As part of our multi-year investment in innovation and data analytics, the company is focused on significantly expanding the scale of data to help credit unions gain stronger member intelligence, accelerate analytics adoption and strengthen market share. 

Friday, December 8, 2017

Supporting Military Members and Their Families is an Honor

We're honored that Wisconsin Employer Support ofthe Guard and Reserve, a Department of Defense program, awarded the ESGR Seven Seals Award to our director of talent acquisition, Allison Osting, today.

The award recognizes Osting for extraordinary support of our military service member employees and their families who serve in the Wisconsin National Guard and Federal Reserve. 

“The ESGR Seven Seals Award was created to publicly recognize those outstanding citizens who provide meritorious leadership and initiative in direct support of their employees, who like the citizen warriors before them, have answered their nation’s call to serve,” said Michael Williams, Wisconsin ESGR State Chair. “Supportive employers are critical to maintaining the strength and readiness of our Nation’s Guard and Reserve units.” 

Osting said she was accepting the award on behalf of our company and everyone involved in supporting active military member employees today: “Our employees are what make CUNA Mutual Group both a strong partner to our customers and a great place to work," she said. "Those who answer our nation's call to serve deserve both our full support and our gratitude.” 

ESGR seeks to foster a culture where all employers support and value the employment and military service of members of the National Guard and Reserve in the United States. ESGR facilitates and promotes a cooperative culture of employer support for National Guard and Reserve service by developing and advocating mutually beneficial initiatives, recognizing outstanding employer support, increasing awareness of applicable laws and policies, resolving potential conflicts between employers and their service members, and acting as the employers’ principal advocate within DoD. 

Tuesday, December 5, 2017

TruStage, our consumer brand, announced the launch of its new entirely digital simplified-issue whole life insurance product today. The product is available to consumers after answering just a few questions and delivering an automated underwriting decision within minutes.

TruStage is among the first insurers to bring a fully digital whole life insurance product to market. This follows the success of its similar simplified-issue term life product launched in June 2016, which is available in 49 states with more than $1 billion in issued coverage in less than one year. 

“We want to continue to fill the sizable need for accessible, user-friendly life insurance in the market,” said Susan Sachatello, senior vice president, TruStage. “Expanding on the tremendous momentum of our simplified term life insurance product launched just one year ago, we seek to further grow our offerings to make it simple and easy for consumers to secure coverage that protects families and meets their specific needs.


Wednesday, November 29, 2017

AdvantEdge Analytics Launches Next-Generation Data Management Solution For Credit Union Industry

Our data analytics company AdvantEdge Analytics launched its next-generation data management solution today, integrating with non-traditional data sources to help credit unions strengthen data access, analysis and insights.

Among the first for the industry, the new solution incorporates a hybrid data warehouse with a new data lake. Credit unions can use it to combine and mine data insights from both traditional, structured and non-structured data sources like social media, personas, segmentations and voice-to-text. This combination allows credit unions to build a more comprehensive, integrated 360-degree view of their members, channels, and products.

“An enormous amount of data is available from non-traditional sources that should be part of a credit union’s data strategy," said Tim Peterson, president, AdvantEdge Analytics. "It is critical for credit unions to integrate this data to improve member insights. Not only will they know more about their members, but they can deliver better value and create new opportunities for their business."

According to an AdvantEdge Analytics survey of more than 400 credit union executives, almost 73 percent of credit unions indicate most of their member data is not easily accessible, and ruoghly 28 percent believe fragmented data is the biggest barrier to successful analytics execution.

Click here to read the full press release.

Tuesday, November 28, 2017

CUNA Mutual Foundation to Match Holiday Giving to CUAid

By Beth Cutler, Community Relations and Foundation Leader 

For many, Giving Tuesday symbolizes the beginning of the holiday giving season. For us, it means that and more.

Today, we're launching a holiday giving campaign to continue support for credit union people affected by hurricanes, floods and wildfires in the U.S. mainland and Puerto Rico this year.  

As announced today, the CUNA Mutual Group Foundation will match every dollar donated to CUAid – up to $100,000 – now through Dec. 31, to support ongoing disaster relief efforts. The matching grant will bring the Foundation’s total 2017 gift for disaster relief to more than $400,000 which includes our own employee match donations.

It's important to note that, while support has been swift and significant, the need for relief is still great in affected regions.*
  • Puerto Rico’s 3.5 million inhabitants continue to face hardships with impassable roads, access to power and clean drinking water and more.
  • NOAA reports Hurricane Harvey has affected 6.9 million people, and estimates suggest 70 percent of the damage there will not be covered by any form of insurance.
  • The National Interagency Fire Center estimates that more than 8 million acres have been burned by wildfires in the U.S. this year.

How You Can Help
You can support ongoing disaster relief efforts for credit union staff and members through the following ways:
  1. Donate through CUAid to support those across the U.S. mainland and Puerto Rico.
  2. Spread the word for hurricane relief options with these social media graphics.

To date, CUAid is the only disaster relief fund dedicated to helping credit unions, their employees and members recover from major disasters. One-hundred percent of the proceeds from donations go directly to relief efforts. 

*For sources, see the full press release.

Monday, November 27, 2017

Credit Union Trends Report: November 2017

Our November 2017 Credit Union Trends Report is now available. Highlights include: 
  • Credit union loan balances rose 0.7 percent in September, slower than the 0.8 percent pace reported in September 2016.
  • New-auto loan balances rose 15.8 percent during the last 12 months, faster than the 12.3 percent increase in used-auto loans.
  • Credit unions added more than 3.964 million memberships in the first nine months of 2017, the fastest pace in credit union history, and significantly above the 3.539 million added in the similar time period of 2016. 
Click here to download the full report.

Tuesday, November 21, 2017

Advisor POV: Retirement Is About More Than Money

Today, many Americans feel uncertain about their financial security in retirement. They may worry over how much they have or haven’t saved, if they’ll be prepared enough (financially) for the unexpected, how they’ll handle the costs of long term healthcare and more.

But, the anxieties that can come with facing retirement aren’t solely about money. Once retired, some may struggle with self-identity, a lack of social contacts or networks and the abundance of “free time” they’ll have when they’re not in the rhythm of corporate life. And, for some, retirement can be a stark reminder of their mortality.

No matter what has Americans worried about life after work, one thing is clear: It’s about money and a lot more. And, financial advisors who understand the psychological impacts of retirement are in a better position to help their clients succeed in this chapter of life. 

With an understanding of these realities, advisors can be prepared to share financial and lifestyle insights and, ultimately, guidance toward a more secure future.

Our new white paper, The Psychological Impact of Retirement, can help you examine many of the psychological barriers clients face as they plan or live through retirement, including:
·      Sources of Clients Anxiety
·      Financial Transitions
·      New Retirement Risks
·      Behavioral Factors Can Have a Negative Impact
·      Emotional and Lifestyle Transitions

It also provides actionable tips you can use to help you guide them towards their goals for a happy, healthy, financially secure retirement.


Monday, November 20, 2017

Share Your Holidays in the Communities You Call Home

Share Your Holidays in the Communities You Call Home
Did you know that Tuesday, Nov. 28, marks the worldwide movement known as Giving Tuesday? It’s a global day of giving fueled by the power of social media and collaboration.

Throughout 2017 CUNA Mutual Group’s employees logged more than 5,600 volunteer hours, donated more than $2M in Foundation grants and event sponsorships and assisted with those affected by the hurricanes and fires…but 2017 is not over yet!

We have invited each of our employees – no matter their location – to continue their commitment of #peoplehelpingpeople by extending the gift of giving and sharing their holidays in the communities they call home.

Many of our employees have already accepted the invitation and are busy scheduling team volunteering events, food drives, purchasing gifts for those in need and so much more!

We look forward to sharing their stories in the coming weeks. So as we celebrate the worldwide day of Giving Tuesday, please remember that it is one day to raise awareness for a cause that extends 365 days a year. Looking for ways to get involved in your community?

Here are a few suggestions:
  • Boys & Girls Club of America – Find your local Boys & Girls Club and get involved! 
  • Feeding America – Find local food banks and donate non-perishable items and/or volunteer 
  • United Way – Find year-round volunteer opportunities at a variety of non-profit organizations. 

Additionally, if you’d like to help those who have been impacted by the recent hurricanes, here are a few ways you can make a difference:
  1. CUAid to support those across the U.S. mainland and Puerto Rico. Donate through WOCCU's
  2. Caribbean Aid Fund to support those across the Caribbean
  3. Spread the word for hurricane relief options with these social media graphics

Tell us how you are extending the gift of giving in your community this holiday season on TwitterFacebook or Instagram. #peoplehelpingpeople

Friday, November 17, 2017

NAFCU Services and AdvantEdge Analytics Announce Preferred Partnership

NAFCU Services Corporation and CUNA Mutual AdvantEdge Analytics announced a new preferred partnership this week to empower credit unions with improved data management and advanced analytics to support better member experiences. 

This industry collaboration will provide ways to not only help credit unions overcome challenges in their data infrastructure, but also identify new growth opportunities through business intelligence and advanced analytics.

As credit unions transition into data-driven organizations, we are seeing an industry-wide push to further expand data insights and innovation throughout the credit union system,” said Tim Peterson, president, CUNA Mutual AdvantEdge Analytics. “We look forward to working with NAFCU Services and their partnership to help us build and strengthen data analytics for the credit union industry.”

NAFCU Services selected AdvantEdge Analytics as a strategic partner on the basis of its integrated analytics solution capabilities. AdvantEdge’s industry-leading, end-to-end data solution equips credit unions with the tools and strategies that will help them leverage the full value of their data assets. This solution brings together data management, reporting and performance management, and advanced analytics services into one complete offering.

Click here to read the full press release.