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From the CEO: Ongoing NCUF support ensures cooperative support for all credit unions in times of need

June 17, 2014

Dear members:

It seems like a day hasn't gone by this month without a headline story highlighting a devastating tornado touching down somewhere in the Plains or Midwest. Earlier this year, we had members in the Florida Panhandle dramatically affected by flooding rains, and now many of those same members are gearing up for this year’s hurricane season. It’s the time of year when we are reminded of how important business continuity is for credit unions, and, of course, how fortunate we are to work in an industry that is cooperative in nature. With such natural disasters and hurricane season in the forefront, it’s timely to discuss the great work done by the National Credit Union Foundation’s (NCUF) CUAid program as well as the Community Investment Fund (CIF), both of which provide vital services to credit unions. The NCUF serves as the charitable arm of America’s credit union movement, and exemplifies the cooperative spirit of our industry. I’m honored to serve on the board of directors for the NCUF, and to be a part of the inspiring, and sometimes, vital services they provide our industry.

Corporate One’s Community
Investment Fund Option

  • No membership in Corporate One or any other corporate credit union required
  • Capital at a corporate not required to invest
  • Investment options include government-sponsored agency securities and/or federally insured CDs that are held in a special no-fee safekeeping account
  • $50,000 minimum to participate, with the credit union electing how much of their earnings to be split between the NCUF and their state/regional foundation

For more information, contact a Corporate One licensed investment representative at
800/366-2677 or visit our CIF page for complete information.

CUAid
In addition to the variety of financial literacy and educational programs the NCUF provides, such as Biz Kid$ and Real Solutions, the NCUF established CUAid, a program that raises money in emergencies for credit union people affected by natural disasters. What makes the NCUF unique is that the dollars raised come from credit unions and are provided to credit unions. Any time a large-scale disaster occurs, NCUF immediately contacts the credit union league(s) in the disaster area to determine the approximate number of credit union volunteers, employees and members affected by the disaster to determine if a national CUAid campaign fundraising effort is needed. If so, the NCUF gets the word out that a CUAid campaign has been activated at their Web site at cuaid.coop with requests for donations. Since its inception in 2006, CUAid has helped raise more than $2.4 million in disaster relief donations for credit union people, providing essentials such as food, water, and shelter, to get credit union people back into their homes and help them rebuild their lives. The donations are also essential in helping impacted credit unions get up and running more quickly. So, when disaster strikes, please be on the lookout for a CUAid campaign, and consider donating when you see one activated.

Community Investment Fund (CIF)
In addition to CUAid, NCUF’s CIF program also provides financial support to credit unions nationwide. The CIF allows credit unions to support their respective state/regional credit union foundation as well as the national grants and programs provided by the NCUF. As a result of this investment, tens of thousands of dollars have been funneled back through support of our state foundations and the NCUF. Corporate One is a steadfast champion and supporter of the NCUF’s CIF, having held more than a $10 million investment in it for more than 10 years. After seeing how these funds have helped advance the cooperative movement, Corporate One decided to further our support of the NCUF, creating expanded investment options for the CIF nationwide. Now through Corporate One’s CIF options, credit unions have additional investment alternatives that can be used to help credit union members reach life-changing goals toward financial freedom, and can provide funds when disaster strikes. This CIF option is open to every credit union foundation in the country, and we are proud to already be working with many state foundations, including the Ohio Credit Union Foundation, Southeastern Credit Union Foundation and the Mississippi Credit Union Foundation.

Without a doubt, Corporate One is proud to have this opportunity to further the credit union cause and support a movement that remains steadfast in helping credit unions. To learn more about our CIF program or to invest, contact your Corporate One investments representative at 800/366-2677 or visit our CIF page for complete information.

For many of us, the cooperative nature of our industry is what makes our work worthwhile and rewarding. I offer my gratitude to those that have already donated through CUAid and/or invested in Corporate One’s CIF program for your commitment to the cause. And to those who haven’t invested yet, I ask that you consider investing whatever you can to help the NCUF. With CUAid and the CIF, there are two great options for you to choose how your credit union can further the cause of people helping people.

Regards,

Lee C. Butke
President/CEO

P.S. With severe summer weather threatening us, be sure to check out the “Preparing for the Unexpected” article in this month’s Solutions for tips to keep your credit union in business during a disaster.