The Point: Dec. 20, 2013
Holiday schedule: The Credit Union Association of New York, NYCUF, Covera, CUC Mortgage Corporation and UsNet will close at 1 p.m. on Christmas Eve and will be closed Christmas Day. The Point will not be published Christmas Eve or Christmas Day. Happy holidays!
CUs encouraged to update Project Zip Code data by year-end
As another year of advocacy begins, New York credit unions are encouraged to update their Project Zip Code (PZC) data. Credit unions can download and run version 13.0 of the free program by visiting CUNA’s website. A user manual and FAQ document are also available.
Project Zip Code is a secure, user-friendly program that counts credit union members and matches them by state legislative district, congressional district and county. The counts are uploaded to CUNA’s PZC website and combined with data from other credit unions nationwide to enhance advocacy efforts. Credit unions that utilize PZC are also able to view their member quantities by geographic area, which can help with ATM placement and branch strategies.
To guarantee accuracy, credit unions should update their PZC data at least twice each year.
For assistance with utilizing PZC, contact Michelle Haag, Association support specialist, at email@example.com or (800) 342-9835, ext. 8207.
For the sixth consecutive year, Corning FCU has been named the top lender among small community lenders in the Southern Tier by the Small Business Administration. The credit union had the highest approved SBA 7(a) loan rate in its category with $1.9 million in approved loans—an increase of 39.6 percent from 2012.
Hudson River Community CU and CU Direct, a strategic partner of the Credit Union Association of New York, were recently presented with Credit Union Journal’s Best Practice Award for their collaboration on the credit union’s efforts to grow its direct and indirect loan programs. The effort also involved the development of an initiative aimed at driving foot traffic to participating CUDL dealerships.
Hudson River Community CU is attributing the collaboration with driving 40 percent of all funded indirect loans it made during 2012. CU Direct has facilitated $130 billion in credit union auto loans since 1994, and CU Direct partner credit unions have collectively experienced 16 percent auto loan growth in 2013.
Hudson Valley FCU was recently named “Best for Nationwide Access” by the popular financial website NerdWallet. The website evaluated 100 of the largest financial institutions in the U.S. in an effort to help consumers better understand which ones best meet their needs. Hudson Valley FCU was chosen due to its large surcharge-free ATM and shared branching networks.
About Recognition Round-Up:
Credit unions and/or credit union leaders receiving a significant local, state or national award are encouraged to complete and submit the Credit Union Announcement Form for recognition in The Point and on the Association's Facebook page. Photos and related press releases may also be attached with the form.
Enrollment open for TurboTax, Jackson Hewitt discount programs
Just in time for tax season, Invest in America is offering credit unions an opportunity to enroll in two tax preparation discount programs. Participating credit unions can offer their members discounts on TurboTax products, as well as a chance to win the TurboTax sweepstakes.
Credit unions can also enroll in the Jackson Hewitt discount program, enabling members of participating credit unions to save $30 with a printed coupon provided at no cost to the credit union.
To learn more about these programs, visit the Invest in America website.