CSE Federal Credit Union’s Post

Today, Governor Kathy Hochul has proclaimed March 26, 2024 as Credit Union Day in New York State. 🎉   We are proud to share that a few of our internal-owners are attending the 2024 State Governmental Affairs Conference in Albany, where they have the opportunity to ignite change in the credit union landscape, reinforce the collective voice of the credit union movement, and reaffirm our focus on making our members’ lives—and our community—better.   We exist because of our members, and it's important to remember that:   🔸 Credit Unions are not-for-profit financial cooperatives that exist to serve their members.  🔸 True to the credit union mission, and at the core of our values, is an unwavering commitment to creating mutual value for members and the larger community.  🔸 Our goal is to ensure members are well-positioned to achieve their personal and financial goals.  🔸 This is driven by a rich history, and deeply rooted in our core values, that put people first.   🔸 Today, as Northern Credit Union, we’re state-chartered and proudly serve more than 40,000 members.   To review bill #J02023 and read Governor Hochul's proclamation, visit: https://lnkd.in/g-mQz3WK

#Creditunion values are world wide. I am feeling very much hated by certain individuals by the public for standing up for members and non-members rights. Filing a Federal Court action under T-591-24 to hold a 2.2 billion dollar credit union accountable for their conduct under my complaint for compliance under PIPEDA. Self represented, which gives me wobbly feelings of self doubt because of their use of members funds as financial backing, and if you do not believe I am standing up for members rights after the negligent conduct on behalf of the Credit Union I have been dealt with in their court actions QBG 290/16 and QBG 15/22, with all the financial loss and the credit unions intentional infliction of harm, by ONE Credit union. You are wrong. l will have my day in court . I just ask where are the 240 employee's who might know wrong has been done and the other credit union Executives and Board members who want to stand up for credit union values world wide... coming forward in the right of justice? Nothing will stop me stand up for truth in accuracy of court documents and hold one 2.2 billion dollar credit accountable for injustice. Not one affidavit was filed in Federal Court to prove what I have said, is false. Seriously, why is this credit union CEO, Executive Management and board members, still in their positions of Power? Credit Unions are suppose to be member run, once a member always a member, lets resolve this employee issue and hire a new CEO and executive employees and hold a special vote to replace the board of directors to make this Credit Union Whole again. I will prove, one member will, and can make a difference. I believe in Credit Union values and will ensure they are upheld to maintain credit union reputations world wide. 🌻🌻🌻🌻🌻

On June 26, we celebrate 90 years since President Franklin D. Roosevelt signed the Federal Credit Union Act of 1934. This pivotal legislation, born in the depths of the Great Depression, established federal credit unions to address the financial needs of workers. Over the decades, credit unions have evolved but stayed true to their mission of "People Helping People." Today, credit unions provide immense benefits, with $23 billion in direct benefits to 140 million members in 2023 alone. Their not-for-profit, member-centric model continues to offer prudent financial stewardship and community support. Patrick Conway, President & CEO of CrossState Credit Union Association, highlights in CU Insight, organizations like the American Association of Credit Union Leagues (AACUL) play a crucial role in advocating for and supporting credit unions, ensuring the longevity and vibrancy of this essential movement. As we reflect on 90 years of impact, we look forward to continuing this legacy of financial empowerment and community solidarity for generations to come. #CreditUnion #FinancialEmpowerment #PeopleHelpingPeople

Sherry Virden nailed it! Is there a gap between your teams intent, and your credit unions impact? How do you know? Where do you start to know? How do you close the gap if your Credit Union has one. Callahan & Associates can help. https://lnkd.in/eS3g_6Rm

Exciting credit union news! As of January 1, America’s Credit Unions is legally active! The organization, leaders and staff are focusing on advocating and positively impacting credit unions’ environment. Learn more about this new powerhouse national association for credit unions. #coopsolutions

Exciting credit union news! As of January 1, America’s Credit Unions is legally active! The organization, leaders and staff are focusing on advocating and positively impacting credit unions’ environment. Learn more about this new powerhouse national association for credit unions. #coopsolutions

I didn't previously know about the transition from "flows" to "stocks" model of #CreditUnion capital adequacy, but that feels like a vital transition for understanding the collapse of credit union formation activity. Rather than having to commit to accumulating capital in a systematic way over time, you had to have the capital in hand before even launching. Brutal implications. cc: Denise Wymore, GSD "The cooperative movement, and especially credit unions, were founded with social capital. Unlike other profit making firms, only minimal shares were pledged by organizers to receive a credit union charter. The Field of Membership was the existing external network that provided the connections giving a new charter its mutual support and market focus. The net worth or financial capital requirement was a flow concept.  Either 10% or 5% of revenue had to be set aside into reserves until a certain ratio of net worth to risk assets was attained. In the 1998 Credit Union Membership Act this “flow” concept of capital adequacy was replaced with a “stock” measure–that is the ratio of net worth to assets. This financial point in time definition was expanded by the 2022 imposition of a risk-based capital. This raised the well capitalized ratio from 7% to 9%. The founding cooperative bond of social capital was replaced with financial ratios. This transformation was accelerated as credit unions evolved their fields of membership into new groups, areas or criteria with little connection to each other. Instead of established connections, credit unions began relying on new brand creations and marketing to establish a their presence in the markets they sought to serve." https://lnkd.in/eEDntf9j

This is SPOT ON Rich Jones! A great way to be competitive is to be exclusive. Trying to be all things to all people is not a good strategy. Small credit unions have a distinct advantage when it comes to marketing to a niche. #peoplehelpingpeople

🌟 Celebrate Financial Literacy on October 17! 🌟 As a financial wellness expert and personal finance author, I’m excited to highlight two important observances on October 17: 1. International Credit Union Day 🏦✨: Credit unions play a vital role in our communities by offering affordable financial services and supporting financial literacy. Let’s appreciate their efforts in helping members achieve financial stability and success. If you’re not a member yet, now’s a great time to explore the benefits! 2. National Get Smart About Credit Day 💳🧠: Credit is a powerful tool when used wisely. This day focuses on educating young people about building and maintaining good credit habits. Understanding your credit report and score is crucial for financial health. Let’s make smart credit choices and pave the way for a secure financial future. 💡 Financial literacy is key to overall well-being. Whether it’s through credit unions or learning about credit, let’s use this day to boost our financial knowledge and make informed decisions. #FinancialHealthIsHealth #FinWell360 #FinancialWellness #AndrewLendnal #InternationalCreditUnionDay #GetSmartAboutCredit #FinancialLiteracy #CreditUnion #SmartCreditChoices #MoneyManagement 🎉 Shoutout to all the credit unions making a difference and everyone striving to get smarter about credit. Let’s continue to promote financial wellness together! 🚀 https://lnkd.in/gd_-Vgtk

It's #FunFactFriday Let's learn some things about CU's - Once a member, always a member! - Every member has a vote (Attend your annual meetings!) - A Share Account is a savings account - A Share Draft Account is a checking Account - Credit Unions are not-for-profit (this means that profits don't go to corporate stakeholders but back to the members in the form of higher dividend rates, lower loan rates and lower service fees)