Credit Union Best Practices

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Your Highly Custom FoolProof programs can make a significant impact on your credit union’s work in several key areas.

Best Practices From Four Highly Custom Credit Unions:

Educators, a billion dollar credit union in Racine, Wisconsin.

1) Best Practice: Use of FoolProof Consumer Guides at Educators:

As a Highly Custom credit union, you are licensed to print any of our guides and articles. The guides are completely customized for your credit union.

At Educators, thousands of members have used these guides. Here’s a look at the quality of Educators’ guides:

2) Best Practice: FoolProof for High Schools.

Just ask Educators Credit Union about FoolProof for High Schools, our program that provides a teacher about two weeks of online, turnkey classroom instruction.

This one credit union has over 50 high schools using our high school program.

Every year thousands of students work through the program in their Wisconsin classrooms--and each student starts at the Educators Credit Union's homepage.

How did Educators Credit Union achieve this buy-in?

Their commitment to the high school program included board members whose enthusiasm for helping young people energized the staff.

Using FoolProof guidelines and their own innovative ideas, they made a concerted effort to reach hundreds of teachers. For instance,
- The credit union empowered their education specialist to concentrate on the FoolProof for High Schools initiative.
- Educators CU launched FoolProof for High Schools with two dinners for teachers, featuring the credit union’s president and key FoolProof staff.
- Educators CUmade presentations at teacher meetings.
- They initiated an extensive one-on-one outreach to educators.
- Want to know more details? Read this letter.

And check out what two teachers from Wisconsin have to say about FoolProof for High Schools.

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Corning Credit Union, a billion dollar credit union in Corning, New York.

Corning Credit Union has been a key FoolProof credit union since FoolProof’s inception, and has contributed extensively to our efforts. We, for instance, test all FoolProof programs at Corning, and their input has been invaluable

When Corning CU started using the FoolProof for High Schools program, Corning wasn’t closely affiliated with any high schools. Corning now sponsors FoolProof in almost all the area high schools (in 13), at the community college, and at two alternative high schools.

Corning Credit union has hosted teacher meetings to encourage teacher involvement, and each year hosts a FoolProof Live Team visit to all area high schools.

Corning, as with Educators, also has a dedicated staff member working on its high school program.

Corning has also used FoolProof to help establish their first high school credit union branch.

Here's CCU's Feedback.

University Federal Credit Union, a billion dollar credit union in Austin, Texas.

1) Best Practice: “Second Chance” auto loan program.

The most impressive consumer advocacy initiative is one that directly saves a member money. The member is happy, and the credit union is happy.

UFCU adopted a Highly Custom version of FoolProof’s “Second Chance” lending program in 2000.

Since 2000, UFCU has refinanced 17,000 members’ auto loans.

UFCU saved members over $17,000,000.00 in unnecessary interest payments.

The credit union funded $302,000,000.00 in new auto loans.

On the launch date in 2000, UFCU also went from 100% indirect auto lending to 100% direct auto lending.

Highly Custom Feature: UFCU launched an “e-alert” program for members interested in regular information about the car buying process. Over 2900 members now receive this e-alert, which is authored by a FoolProof auto expert.

2) Best Practice: Extraordinary internal marketing

In February, 2010, UFCU launches its third FoolProof contest in ten years for staff members. The prize? A one-week trip to the Caribbean.

Each week, staff members answers online questions about UFCU’s consumer programs

Each correct answer automatically enters a staff member in the drawing for the trip.

Want details on a contest like this? Check this contest documentation in "Credit Union Tools" on our download section.

Elevations Credit Union, a 900 million dollar credit union in Boulder, Colorado.

Best Practice: Offering member education to the entire community

Elevations Highly Custom FoolProof programs include its “RealityCheck” website for adults. Elevations has established RealityCheck as the ‘go-to’ source for consumers in both Boulder and nearby Denver, Colorado.

FoolProof consumer advocates regularly appear on Denver television stations on behalf of Elevations.

FoolProof consumer advocates regularly appear on hour-long consumer programs on local NPR stations.

FoolProof Consumer Advocacy at Elevations was featured for a year on a television program aimed at 50+ members.

FoolProof’s consumer advice is regularly noted in local news papers. Here are two articles:

APG Federal Credit Union, an 800 million dollar credit union in Edgewood, Maryland.

Best Practice: Key Executive Support

APG FCU’s recently launched the “FoolProof for High Schools” program. The program has quickly gained traction in Maryland, thanks to the enthusiasm of the credit union's dynamic financial literacy team—and by the direct support of the credit union's CEO.

For instance, in January, when an APGFU Teacher won FoolProof’s contest for a trip to the Caribbean, the entire executive team surprised the teacher in his classroom with the award. Click the pictures to enlarge.

SECU Credit Union, a 1.8 billion dollar credit union in Linthicum, Maryland.

Best Practice: Extraordinary staff buy-in.

With 249,000 members, every staff member at SECU has a role to play with the member. That’s why SECU decided to launch FoolProof with a major staff contest.