As we look back over the past year, our purpose is clear. We
exist to help people build a better financial future, and we do this by
focusing on our customers and living our commitment to doing business with
integrity.
We measure how well we've performed and lived up to our
purpose in ways--big and small--that we have impacted our customers.
The cumulative impact of our products and services on those
we work hard for all year is impressive and means a great deal to us, but hearing
individual stories of those we have helped means even more.
DEBT PROTECTION
We have protected more than $260 million in credit union
member loans, enabling 8.5 million members to keep their homes and cars if unforeseen
setbacks were to come.
Helen Agnew is one of those 8.5 million and her story is our
purpose. A member of CU Community Credit Union in Springfield Missouri, Helen tells us how the credit union offered our debt protection product on a loan
that ultimately made all the difference in keeping her and her daughter on
their feet when she became unemployed. (Click image to watch.)
TRUSTAGE INSURANCE
This year, we launched 3 new insurance products: Whole Life, Children's Whole Life and Health. We also optimized our Life claims handling process for beneficiaries, with 25% of claims now paid on the initial call. There are now more than 15 million credit union members
protected through our TruStage insurance.
Belinda Lockridge is just one of
those members but her story is our purpose. She is representative of the millions of underinsured Americans
we serve to build financial security for their families. (Click image to watch.)
RETIREMENT SERVICES
As a provider of retirement plans for credit unions and
small businesses, we strive to include educational features that will improve
the organizations’ participation rates in the programs.
More than 45,000 credit
union and small business employees now track their progress toward retirement
and are able to easily make adjustments through our online planning tool.
Nathan Grossenbach of Shoreline Credit Union in Two Rivers, WI tells the story of how we exceeded
their expectations with the transition to a new 401(k) plan and helped their
employees understand the plan and how they would benefit from participating. His story is our purpose.
This year with our business protection solutions and risk management resources, we paid $64.7 million in claims (through Q3) and
sent alerts to 24,000 credit union employees, helping them mitigate and
overcome risks. We also visited nearly 1,000 credit union sites to assess risks and provide strategic
consultation.
Unfortunately, Augusta VAH Federal Credit Union experienced a
devastating fire to its main branch in 2011.CEO Phyllis Cochran's story--of how our teams helped her CU recover--is our purpose.
CUNA MUTUAL GROUP'S WEALTH MANAGEMENT
CUNA Mutual Group's Wealth Management helps consumers achieve a more secure financial position by helping them save for and realize their lifetime dreams, whether that’s their child’s education, a dignified retirement, or simply financial peace of mind. We’re doing this by providing unique, simple-to-use, high-value service and product solutions to consumers through financial advisors.This past year, we paid credit unions more than $65 million in fee revenue.
David Young, EVP at Commonwealth Credit Union in Frankfort, Kentucky, shares why they partner with CBSI to enhance their investment services and deepen member relationships. His story is our purpose. (Click image to watch.)
In 2015, our focus on our purpose -- helping people build a better financial future -- will be stronger than ever. We'll continue investing in our capacities and optimizing our products and processes to better serve our credit union customers and their members. We will build on our strengths and accelerate our growth for the healthy future of the credit union industry. Our customers are our purpose.
Watch for more updates in the coming weeks on these stories and where we are headed in 2015.
