December 16, 2014

2014: Our Year Measured in Customer Impact

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. (Click image to watch.)

 BUSINESS PROTECTION

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(Click image to watch.)

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.