10 Oct 2014

Iowa Credit Union League Announces 2014-15 Board at Annual Convention

By Emily Caropreso

Dubuque, Iowa - Iowa credit union representatives were sworn in as the Iowa Credit Union League (ICUL) Board of Directors at the Iowa Credit Union Annual Convention September 18 in Dubuque at the Grand River Center. By serving on the 12-member board, each individual represents the interests of Iowa's 107 credit unions and their more than one million members. ICUL is the trade association for Iowa's not-for-profit credit union industry.

"On behalf of the Iowa Credit Union League, I would like to congratulate these individuals for being elected to the ICUL Board of Directors," said Patrick S. Jury, CEO/President, ICUL. "We sincerely appreciate their willingness to lead our trade association, and the entire credit union industry, in fulfilling our long-term strategic vision. I look forward to working with them in the future."

Dave Cale, CEO, Financial Plus Credit Union of West Des Moines, was elected to serve as the 2014 Chair of the ICUL Board and Brent Helin, CEO, Des Moines Metro Credit Union was elected to serve as the 2014 Vice Chair.

The entire Iowa Credit Union League Board is listed below by asset category.

$0-25 Million Asset Category

  • Janine Keim, Consumers Credit Union, Denison
  • Jonathon Miller, IntegrUS Credit Union, Dubuque
  • Dennis Siemers, Town and Country Credit Union, Harlan

$25-$125 Million Asset Category

  • Tim Chapman, Members Community Credit Union, Muscatine
  • Jeff Hayes, North Star Community Credit Union, Cherokee
  • Helen Pearce, Cedar Falls Community Credit Union, Cedar Falls
  • Tim Marcsisak, Nishna Valley Credit Union, Atlantic

$125 and Above Million Asset Category

  • Jim Hagerman, Linn Area Credit Union, Cedar Rapids
  • Joe Hearn, Dupaco Community Credit Union, Dubuque
  • Dale Owen, Ascentra Credit Union, Bettendorf

At-Large Category

  • Dave Cale–Chair, Financial Plus Credit Union, West Des Moines
  • Brent Helin–Vice Chair, Des Moines Metro Credit Union, Des Moines

The Iowa Credit Union League is the trade association that represents the interests of Iowa credit unions and their more than one million members. Credit unions are not-for-profit, financial cooperatives owned and operated by their members. Iowans use their credit union membership to receive higher interest rates on savings and lower interest rates on loans. For more information on ICUL and Iowa credit unions, visit www.IowaCreditUnions.com. Follow ICUL on Twitter at www.twitter.com/icul or on Facebook at www.facebook.com/iowacreditunions.To learn more about credit unions, visit www.ASmarterChoice.org.


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22 Sep 2014

Iowa Credit Union League Supports Braley for Senate, Branstad for Governor

By Emily Caropreso

Dubuque, Iowa - During its annual convention being held in Dubuque, the Iowa Credit Union League (ICUL) announced that it is supporting Bruce Braley for United States Senate and Terry Branstad for Governor. In addition, ICUL also announced its support of Pat Murphy for Iowa's First Congressional District One and Dave Loebsack for Iowa's Second Congressional District.

"These candidates understand the unique role the credit unions play as non-profit, financial cooperatives. They also have been strong supporters of ensuring credit unions are able to provide their one million Iowa members with needed financial services in a marketplace that is quickly changing. It is with great enthusiasm that we announce our support for these candidates today," said Patrick S. Jury, CEO/President, ICUL.

"Congressman Braley has been supportive of Iowa's credit unions since he was first elected to Congress back in 2006. He understands and supports credit unions' cooperative model and tax structure, and supports providing small businesses with better access to capital by lifting the business lending cap placed on credit unions in federal law. Bruce Braley is a champion for credit union and he will be an outstanding United States Senator," Jury said.

"Governor Branstad has been a credit union member for decades and understands the value Iowa's credit unions provide to more than one million members in Iowa. He has consistently stood with us as we seek to provide our members better services while helping them keep more of their own hard-earned money. Iowa's credit unions have a friend in Governor Terry Branstad," he said.

In addition to making these endorsements, ICUL also announced it has, to date, supported 102 candidates running for the state legislature, a list is provided below. ICUL's Advocacy Committee and its non-partisan political action committee, CUPAC, evaluate candidates solely on their support for credit union issues.

"As the trade association for Iowa's credit unions, we feel it is important to provide this information to our members, so they can make decisions," Jury said. "The endorsements do not reflect the opinions of individual credit union members or staff."

2014 CUPAC Supported Candidates 
Abdul-Samad, Ako (D - Des Moines)
Anderson, Marti (D - Des Moines)
Finkenauer, Abby (D - Dubuque)
Staed, Art (D - Cedar Rapids)
Bacon, Rob (R - Slater)
Baudler, Clel (R - Greenfield)
Bearinger, Bruce (D - Oelwein)
Bennett, Liz (D - Cedar Rapids)
Berry, Deb (D - Waterloo)
Brown Powers, Timi (D - Waterloo)
Byrnes, Josh (R - Osage)
Cohoon, Dennis (D - Burlington)
Costello, Mark (R - Imogene)
Cownie, Peter (R - West Des Moines)
Dawson, David (D - Sioux City)
Deyoe, Dave (R - Nevada)
Dolecheck, Cecil (R - Mount Ayr)
Drake, Jack (R - Griswold)
Forbes, John (D - Urbandale)
Forristall, Greg (R - Macedonia)
Fry, Joel (R -Osceola) 
Gaines, Ruth Ann ( D - Des Moines)
Gaskill, Mary (D - Ottumwa)
Grassley, Pat (R -New Hartford)
Gustafson, Stan (R - Cumming)
Hagenow, Chris (R - Windsor Heights)
Hall, Chris (R - Sioux City)
Hanson, Curt (D - Fairfield)
Hanusa, Mary Ann (D - Council Bluffs)
Heartsill, Greg (R - Chariton)
Heaton, Dave (R- Mt. Pleasant)
Heddens, Lisa (D - Ames)
Hein, Lee (R - Monticello)
Hess, Megan (R - Spencer)
Highfill, Jake (R - Johnston)
Holt, Steve (R - Denison)
Hunter, Bruce (D - Des Moines)
Huseman, Dan (R - Cherokee)
Isenhart, Chuck (D - Dubuque)
Jacoby, Dave (D - Coralville)
Jorgensen, Ron (R - Sioux City)
Kaufmann, Bobby (R - Wilton)
Kearns, Jerry (D - Keokuk)
Kelley, Dan (D - Newton)
Klein, Jarad (R - Keota)
Koester, Kevin (R - Ankeny)
Kressig, Bob (D - Cedar Falls)
Landon, John (R - Ankeny)
Lensing, Vicki (D - Iowa City)
Lundby, Daniel (R - Marion)
Lykam, Jim (D - Davenport)
Mascher, Mary (D - Iowa City)
Maxwell, David (R - Gibson)
McConkey, Charlie (D - Council Bluffs)
Meyer, Brian (D - Des Moines)
Miller, Helen (D - Fort Dodge)
Miller, Linda (R - Bettendorf)
Moore, Brian (R - Bellevue)
Muhlbauer, Dan (D - Manilla)
Oldson, Jo (D - Des Moines)
Olson, Rick (D - Des Moines)
Ourth, Scott (D - Ackworth)
Paulsen, Kraig (R - Hiawatha)
Prichard, Todd (D - Charles City)
Rogers, Walt (D - Waterloo)
Ruff, Patti (D - McGregor)
Running-Marquardt, Kirsten (D- Cedar Rapids)
Sexton, Mike (R - Rockwell City)
Smith, Mark (D - Marshalltown)
Soderberg, Chuck (R - LeMars)
Steckman, Sharon (D - Mason City)
Stutsman, Sally (D - Riverside)
Taylor, Rob (R - West Des Moines)
Taylor, Todd (D - Cedar Rapids)
Thede, Phylis (D - Bettendorf)
Upmeyer, Linda (R - Clear Lake)
Vander Linden, Guy (R - Oskaloosa)
Wessel-Kroeschell, Beth (D - Ames)
Wills, John (R - Spirit Lake)
Winckler, Cindy (D - Davenport)
Wolfe, Mary (D - Clinton)
Wood, Frank (D - Eldridge)
Worthan, Gary (R - Storm Lake)

Senate
Anderson, Bill (R - Pierson)
Beall, Daryl (D - Fort Dodge)
Bertrand, Rick (R - Sioux City)
Bisignano, Tony (D - Des Moines)
Bolkcom, Joe (D - Iowa City)
Bowman, Tod (D - Maquoketa)
Chelgren, Mark (R - Ottumwa)
Dix, Bill (R - Shell Rock)
Dotzler, Bill (D - Waterloo)
Dvorsky, Robert (D - Coralville)
Feenstra, Randy (R - Hull)
Hart, Rita (D - Wheatland)
Hogg, Rob (D - Cedar Rapids)
McCoy, Matt (D - Des Moines)
Quirmbach, Herman (D - Ames)
Ragan, Amanda (D - Mason City)
Schultz, Jason (R -Schleswig)
Smith, Roby (R - Bettendorf)
Whitver, Jack (R - Ankeny)

About the Iowa Credit Union League
The Iowa Credit Union League is the trade association that represents the interests of Iowa credit unions and their more than one million members. Credit unions are not-for-profit, financial cooperatives owned and operated by their members. Iowans use their credit union membership to receive higher interest rates on savings and lower interest rates on loans. For more information on ICUL and Iowa credit unions, visit www.IowaCreditUnions.com. Follow ICUL on Twitter at www.twitter.com/icul or on Facebook at www.facebook.com/iowacreditunions.To learn more about credit unions, visit www.ASmarterChoice.org.

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12 Mar 2013

Finding Ways to Save on Home & Auto Loans

By Emily Caropreso

CONSIDER THIS: Polk, an auto research firm, forecasts that new vehicle registrations in the U.S. will increase by 900,000 in 2013. According to more than 900 credit union members surveyed by the Iowa Credit Union League (ICUL), Iowa is no exception to the trend. The report revealed 10.1 percent of respondents plan to purchase a car in 2013. Additionally, 4.1 percent of respondents say they are planning to purchase a house this year.

It can be difficult to afford large down payments so finding the best financing option is more important than ever. The survey showed 46.6 percent of respondents in ICUL's survey report said they would use money from savings for a down payment on a car, and 40.5 percent on a house. While the current market offers favorable rates, MyFICO.com says the best options are usually only available to borrowers with "tier one" credit, which generally requires a credit score ranging from 760 to 850. Without research and planning, consumers outside of tier one may find themselves paying more than necessary for their loans.

"Too often consumers finance a loan without understanding the actual financial impact," said Emily Caropreso, Director of Communications & Marketing, Iowa Credit Union League. "Length of the loan and the interest rate are only part of the equation. Your credit history, fees, and down payment influence what you will pay each month, and ultimately the costs associated with the entire life of the loan."

ICUL suggests the following tips:

  • Check your credit history. Your credit union can provide you with a copy of your credit report. If not, you can get a report each year for free at www.AnnualCreditReport.com. Check your report for inaccuracies, and look for areas to improve. If you have existing balances, consider paying them down to lessen your debt-to-income ratio, a big factor in your credit score.
  • Shop around for the best financing deal. Consider the entire financing package when shopping for a loan. Calculate the cost of the loan through its entire term and include up-front charges, taxes and fees. You may find a low-interest loan without fees costs less than a zero-percent-interest loan with fees.
  • Put money down. If possible, take the time to save up for a down payment. The more money you put down, the less you have to finance, saving you thousands of dollars in interest charges. This can also allow you to pay for any loan costs up front, rather than rolling them into your monthly payment.
  • Adjust your monthly budget. Adding a new loan payment can put a dent in your monthly budget. Bills that you typically paid in the middle of the month might need to be moved, possibly subjecting you to late fees. Try budgeting an estimated mortgage or car payment a couple of months in advance to avoid the shock.
  • Ask questions. The more questions you ask, the better informed you are. Sit down with a consumer lending specialist at your credit union and ask: how much house/car can I afford? What fees/charges are avoidable? What interest rate can I expect to pay? How much should I put down? In the end, how much will the loan cost me?
26 Feb 2013

Congressman Bruce Braley and Coach Paul Rhoads Show Support for Iowa Credit Unions

By Emily Caropreso

Des Moines, Iowa–The Iowa Credit Union League (ICUL) held its annual Legislative and Regulatory Conference on February 19-20 in Des Moines. More than 100 Iowa credit union representatives convened to learn more about the legislative issues affecting the credit union industry and interact with their legislators.

Congressman Bruce Braley kicked off the conference speaking about the importance of member business lending (MBL). Braley supported Iowa credit unions by saying "I believe that the work you do matters. The people you serve are an important part of our state." He said he believes in the value of member business lending and thinks there should be enough room for all parties involved "to me, there should be plenty of room at the table for lenders doing commercial and business lending."

Head Iowa State football coach, Paul Rhoads, spoke to the importance of building a team with mental toughness, willingness to continuously improve and that have a commitment to teamwork. He explained that "Credit unions have a similarity in the building blocks I use for my team. Smart decision makers. Be accountable. Trust." Rhoads went on to explain that "You can't accomplish anything without people - especially in credit unions and the work they do for their members."

Attendees also heard from Bill Hampel, Chief Economist of the Credit Union National Association (CUNA), Ed Wallace, Deputy Director of Workforce Development and Amy Hudson, Director of Business Development for CoOportunity Health

About the Iowa Credit Union League

The Iowa Credit Union League is the trade association that represents the interests of Iowa credit unions and their more than one million members. Credit unions are not-for-profit, financial cooperatives owned and operated by their members. Iowans use their credit union membership to receive higher interest rates on savings and lower interest rates on loans. For more information on ICUL and Iowa credit unions, visit www.IowaCreditUnions.com. Follow ICUL on Twitter at www.twitter.com/icul or on Facebook at www.facebook.com/iowacreditunions.

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06 Feb 2013

CONSIDER THIS: Tax Refunds as a Debt Solution

By Emily Caropreso

38.8% of Iowans Surveyed Plan to Pay Down Their Debt with Their Tax Refunds

CONSIDER THIS: Tax refund time is just around the corner, and many Iowans are eager to pay down their debt. Last year, the IRS issued more than 104 million refunds totaling $282 billion. For many Americans, their tax refund represents one of the most substantial debt payments they will make all year.

According to a survey of 890 Iowa credit union members conducted by the Iowa Credit Union League (ICUL), 38.8% of respondents plan to use their refund to pay down existing debt in 2013. Similarly, 36.8% of respondents said they plan to save their tax refunds in 2013. Only 4.1% of Iowans are using their tax returns for large purchases, while a small number have designated the funds to start a new business (0.7%).

Many financial experts suggest using a tax refund to establish an "emergency fund" for those who do not already have one. Keeping these funds separate from a regular checking account will discourage spending, and a savings component allows individuals to access funds that can help them avoid going into debt.

The IRS has made it easier to save your tax refund for a "rainy day" by allowing recipients to have the refund split up and deposited in up to three different accounts. This gives consumers the option to earmark portions of their refund for spending and/or saving.

ICUL suggests using a tax refund for one or more of the following:

  • Start a "rainy day" fund. Save for unexpected financial woes that occur including car repairs, home maintenance and health expenses. Putting money aside helps you manage the unimaginable.
  • Invest it long term. The further away you are from retirement, the more your refund can benefit you. Talk to a credit union about long term investment options, and watch your money grow.
  • Invest it short term. While returns on short term investments, such as certificates of deposit, are at record lows, they are still safe and earn interest. If you are looking to make a major purchase within the year, investing short term can grow your refund into a down payment.
  • Start a college savings plan. If your children have college aspirations, consider using your refund to start an education savings plan. The cost of attending college is forecasted to rise significantly over the next decade, so saving for higher education now is a smart investment.
  • Pay down a credit card or loan balance. Nothing hampers a budget like interest-laden monthly loan payments. Whether in the form of a credit card minimum amount due, or repaying a home equity line, shrinking your balance due can minimize your payment and shorten the life on the loan
18 Oct 2012

Iowa Governor to Sign Proclamation Declaring October 18 Credit Union Day

By Emily Caropreso

Des Moines–Credit union representatives from across the state will gather at the Iowa State Capitol at 1:30 p.m. on Thursday, October 18 as Iowa Governor Terry Branstad signs a proclamation declaring the day as Credit Union Day in Iowa.

"While this is part of an international initiative, it's important that we recognize at the state level the importance credit unions have in their communities," said Patrick S. Jury, CEO/President of the Iowa Credit Union League. "We appreciate Governor Branstad signing this proclamation and recognizing the work credit unions do to help their members."

The Credit Union Day proclamation recognizes the Iowa credit union community for its continuing advancement of the financial well-being of credit union members and the contributions made to their respective communities.

International Credit Union Day is celebrated the third Thursday of October each year. This year's theme "Members Matter Most" speaks to the heart of the credit union philosophy of "people helping people."

Credit unions are not-for-profit financial cooperatives that provide an effective and viable alternative to for-profit financial institutions for more than 196 million members in 100 countries worldwide. They exist to serve their members, providing a safe place to save money and access affordable loans.

As part of Credit Union Day, many Iowa credit unions will be holding celebrations in their branches. To find out more about International Credit Union Day, visit www.woccu.org/events/icuday.

The Iowa Credit Union League is the trade association that represents the interests of Iowa credit unions and their nearly one million members. Credit unions are not-for-profit, financial cooperatives owned and operated by their members. Iowans use their credit union membership to receive higher interest rates on savings and lower interest rates on loans. For more information on ICUL and Iowa credit unions, visit IowaCreditUnions.com. Follow ICUL on Twitter at www.twitter.com/icul or on Facebook at www.facebook.com/iowalittleguy.

 

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08 Nov 2011

Hundreds of Thousands of Consumers, Billions of Money Move to Credit Unions

By Emily Caropreso

Rising fees at banks spark consumer action during October in run-up to 'Bank Transfer Day`

Des Moines, Iowa– Reacting to rising fees at banks, hundreds of thousands of consumers have rushed to credit unions over the past four weeks, and have joined existing credit union members in depositing or shifting billions of savings to credit unions, according to estimates released today by the Credit Union National Assn. (CUNA), the nation`s largest credit union advocacy group.

Based on the responses of a nationwide survey of 5,000 credit unions, CUNA estimates that at least 650,000 consumers across the nation have joined credit unions since Sept. 29 (the day Bank of America unveiled its now-rescinded $5 monthly debit card fee). Also during that time, CUNA estimates that credit unions have added $4.5 billion in new savings accounts, likely from the new members and existing members shifting their funds.

The survey results also show that more than four in every five credit unions experiencing member growth since Sept.  29 attributed the growth to consumer reaction to new fees imposed by banks, or a combination of consumer reactions to the new bank fees plus the social media-inspired "Bank Transfer Day," Nov. 5.

"Bank Transfer Day" urges consumers to transfer their accounts from banks to credit unions by Saturday, Nov. 5.

Membership in Iowa has increased by three percent from June 2010 to June 2011. This growth number is prior to the Bank Transfer Day movement.

Many Iowa credit unions are doing whatever they can to help serve this consumer surge in interest in credit unions. Some credit unions are extending hours and staffing for this Saturday (Nov. 5), performing email blasts to members, maximizing social media campaigns, putting up banners in lobbies, offering bonuses to members who bring in new members (and giving bonuses to new members as well), said Patrick S. Jury, President/CEO, Iowa Credit Union League.

"Credit unions have always been in the business to protect the interests of their members and to ensure their financial needs are being met," said Jury.  "We encourage consumers to make the change to credit unions so they can experience the credit union difference and take steps to become more financially secure."

To find a credit union visit www.IowaCreditUnions.com.

The Iowa Credit Union League is the trade association that represents the interests of Iowa credit unions and their more than 900,000 members. Credit unions are not-for-profit, financial cooperatives owned and operated by their members. Iowans use their credit union membership to receive higher interest rates on savings and lower interest rates on loans. For more information on ICUL and Iowa credit unions, visit www.IowaCreditUnions.com. Follow ICUL on Twitter at www.twitter.com/icul or on Facebook at www.facebook.com/iowalittleguy.

 

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