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In the wake of Hurricanes Helene and Milton, the impact on our credit union communities has been immense. Our League of Southeastern Credit Union & Affiliates and Southeastern Credit Union Foundation staff are working tirelessly to aid in recovery efforts, but the need is great, and ongoing support is critical. The Southeastern Credit Union Foundation has already provided over $228,000 in emergency supplies and grants to help those affected by these devastating storms. However, there is still much work to be done, and we are reaching out to ask for your support in this effort. Your contribution to the Disaster Relief Fund will allow us to continue providing critical resources to those in need. To make a donation, click here or, if you prefer, you can download the donation form and mail it to us at your convenience. Your partnership is greatly valued, and together, we can make a significant impact for our affected credit union community. Please consider joining us in supporting the Foundation’s Disaster Relief Fund to ensure that our credit unions have the support and resources they need to recover and rebuild. Thank you for your continued partnership and for standing with us during this challenging time. Warm regards, Steve Willis |
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Mark your calendars for Tuesday, November 12, at 11:00 a.m. ET, when the Learning with LEVERAGE series will focus on one of the most pressing issues for credit unions: The Benefits of ATM Outsourcing and Finding the Right Partner. In this webinar, Kyle Fowler, Vice President of Members ATM Alliance, will discuss the benefits that you can realize by outsourcing your ATMs. We'll cover the basics and dive into things you should consider as you are looking for the right partner. Due to Thanksgiving, Learning with LEVERAGE will only host one webinar in November. Save the date for the final webinar for the Learning with LEVERAGE series in 2024 on December 10. For more information, contact consult@myleverage.com. For a look at our past webinars, click here. |
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As November arrives, it’s a natural time to reflect, and at Growth by Design, we’re especially thankful for the trust our clients place in us. Our partnerships are at the heart of everything we do, and we’re grateful for the opportunities to support their success and growth. Our passion for creating innovative marketing strategies is driven by the success of our clients, and we’re excited to continue collaborating to bring their visions to life. Gratitude is not just a seasonal focus for us at Growth by Design—it’s part of our everyday approach. Each campaign we design is built on trust, open communication, and a genuine understanding of what makes each credit union unique. We’re thankful for the chance to create marketing solutions that not only represent distinct brands but also help credit unions thrive in an ever-evolving marketplace. Our strategies are crafted to align with your goals and fuel sustainable growth, ensuring each client stands out in meaningful ways. If you’re ready to elevate your brand in 2025, now is the time to plan. Reach out to Growth by Design to explore a strategic marketing plan that will set the stage for your most successful year yet. Email contact@growthbydesign.org, call 1-800-768-4282, or visit www.growthbydesign.org to learn more and get started today! |
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ODP Business Solutions (formerly known as Office Depot Business Solutions) and LEVERAGE offer a National Buying Program that will maximize savings to credit unions of all sizes through collaborative buying power. Higher volumes to ODP Business Solutions and LEVERAGE result in higher savings to credit unions! Credit Union Program Benefits:
Additional Features Include:
View our Interactive Marketing Guide To sign up Credit Union Registration For more information, visit https://myleverage.com/solutions/odp.php or contact a LEVERAGE Business Development Consultant at consult@myleverage.com or 855-9EXPERT (855-939-7378). |
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By: Danielle Sesko, Director of Product Management at TruStage In today’s continually challenging economic landscape, more and more credit unions are becoming acutely aware of the potential impacts – and fallout – defaulting and delinquent borrowers pose. With the U.S. economy continuing to be affected by ongoing inflation, consumers' purchasing power has been reduced, putting pressure on household budgets, and making it challenging for borrowers to repay their consumer loans. With some rate relief likely on the way, previous rate hikes aimed at controlling inflation have still increased borrowing costs considerably, further exacerbating debt management problems for members. Consequently, the debt-to-income ratio (DTI) is also rising across all demographics, especially among lower-income earners who must allocate a larger portion of their income towards existing debt payments. Larger households are particularly impacted, facing exponential increases in debt obligations, including credit card and auto loan balances. The statistics are stark. Recent American debt reporting has revealed that younger generations are struggling with debt more than ever, especially credit card and auto loan debt, with delinquency rates now exceeding pre-pandemic levels. According to data from Debt.org, in December 2023, the average nonmortgage debt across different age groups includes: 18-29-year-olds: $69 billion total, $12,871 average These numbers further underscore the financial struggles faced by so many of today’s consumers. Credit unions understand that their members seek loans out of necessity – to cover unexpected expenses or make significant purchases like a vehicle or home. By gaining a deeper understanding of the underlying trends, demographic variations, and economic drivers affecting their members, credit unions could more effectively implement strategies to better mitigate risks and promote financial stability. An increasing number of credit unions are adopting strategies like payment protection insurance to shield their members from vulnerabilities and unforeseen financial hardships, such as unexpected job loss or disability that could impact their ability to repay loans. The key lies in integrating this insurance seamlessly into the lending process itself – especially within the digital channels – without adding complexity or friction for members. This approach ensures payment protection insurance is seen as the valuable solution it truly is, one that aligns with members’ primary financial goals, helping to provide them with extra protection and peace of mind in an uncertain economy. And it is not only the members who benefit. An embedded payment protection insurance strategy also helps the credit union. Not only does it help mitigate risk for the institution’s loan portfolio, but it also enhances member experience. In an increasingly competitive lending market, offering insurance that protects members against default due to unforeseen circumstances, enables credit unions to differentiate their services, expand their member base and focus on building relationships. By showing genuine care and a clear dedication to members' financial well-being, credit unions can not only foster long-term loyalty but also create new opportunities to grow accounts and drive revenue. Credit unions understand the rippling impacts and effects of defaulting borrowers and the necessity for a robust loan delinquency risk mitigation strategy, one that seamlessly integrates prudent lending practices, proactive risk management, and comprehensive data aggregation. By addressing the needs of both the institution and its members alike, an embedded payment protection insurance strategy may provide the financial security that supports members' primary financial goals while also helping credit unions achieve their business objectives, ensuring a more sustainable and secure environment for everyone. |
