#2 of 5: Financial Education for Young Adults: A Community Imperative?

Brandon Michaels, CEO, Mazuma Credit Union
Financial education allows a credit union to benefit its community by leveraging its financial in-house expertise.

This is the second in a series of five articles concerning the unique role credit unions can play in leading the financial services industry through a strategy that embraces Corporate Social Responsibility (CSR).

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INTRODUCTION

The first installment of this series demonstrated that in the increasingly competitive financial services marketplace, credit unions have an advantage by enjoying higher levels of customer/member loyalty driven, in part, by a proactive CSR platform. Credit unions can, therefore, serve as a model for how a financial institution can drive growth through community connections based on CSR.

This second installment in the series looks at the advantages of and various approaches to using in-kind, or non-cash, contributions to CSR efforts. This approach leverages in-house assets—either products or employee expertise—and results in high returns on investment to both the community and the company.

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Make Your Money Matter at a Credit Union During the Holidays

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Winter is an expensive season, especially if you’re a college student! Many on-campus housing options close down during the winter break, which means heading home for the holidays or finding other places to stay until school is back in session. Automobile maintenance costs start creeping up as the cold weather sets in and keeping your place warm doesn’t come for free. Plus, there may be winter clothes to buy or upgrade. During the summer, a t-shirt or light jeans may cut it but during the winter, that threadbare coat isn’t going to do much to keep the chill out.

The holidays are also the season of giving, and many people turn their thoughts toward charity and ways that they can give back to their communities as the year draws to a close. With so many considerations when trying to make your money matter, it can be daunting to try to find the right option for you so that each dollar does the most that it can.

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Mazuma Credit Union Joins Consortium to Unveil Social Campaign to Drive Growth with Millennials

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The ‘Make Your Money Matter’ Initiative illustrates how Credit Unions benefit members and their communities.  Mazuma Credit Union and seven other credit unions are joining with PSCU to unveil a message that’s right on the money for a new crop of young, local-minded consumers.  The “Make Your Money Matter” (www.makeyourmoneymatter.org) campaign is a cooperative, grassroots effort that aims to educate a new generation of consumers about the wealth of benefits credit unions provide over big banks. The campaign comes just ahead of Bank Transfer Day, a consumer movement encouraging a voluntary switch from commercial banks to credit unions on Nov. 5. Partnering with Mazuma to introduce “Make Your Money Matter” is a consortium of seven credit unions from around the country and PSCU, all keen on proclaiming the myriad advantages of credit unions for members, and their local communities.

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#1 of 5: Community-Based Corporate Social Responsibility Platforms: The Next Key Building Block for Credit Unions?

Brandon Michaels
CEO, Mazuma Credit Union

A properly designed Corporate Social Responsibility platform offers a strategic business advantage for credit unions by creating a win/win/win situation for the credit union, its members and the community.

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Every financial institution is faced with the reality that success in today’s marketplace requires new paradigms for growth.  To do that will require adding new techniques to your sales and services portfolio.  You, no doubt, have a handful of strategies in mind.  But there might be a tool missing in your plan.  And that tool is a corporate social responsibility (CSR) platform.

A commitment to community investment and doing good integrated into your business plan is more important than ever before.  Trust in financial institutions, as a whole, continues to lag since 2008.  According to a 2013 Edelman/New York Study, bad news sticks.  This year is the five-year mark for the financial crisis.  Financial results have rebounded, but the turnaround in performance is not matched by the trust placed in financial institutions, which has dropped to only 50 percent among the informed public.

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Time to Break Up With Your Bank!

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When a romantic relationship is coming to an end, somebody almost always seems to tell you that there are “plenty of other fish in the sea,” right? It’s too bad more people don’t give the same advice about relationships with financial institutions. A lot of people feel like big banks are their only alternatives when it comes time to open a checking or savings account, get a loan, or whatever else they might need to do with their money, but the fact is, there are a lot of other fish in the financial sea, and while credit unions may be smaller than big banking institutions, they bring a lot of big advantages to the table.

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Local Credit Unions Unite for Good

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Did you know that credit unions have their own holiday? International Credit Union Day was established in 1948 as a way to recognize the history and achievements of the credit union movement throughout history. It’s celebrated on the third Thursday in October every year, which means that this year it falls on October 17th.

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Kansas City is a Great Place to Live, Work and VOLUNTEER!

Mazuma_volunteersKansas City is considered to be one of the best cities in the U.S. to live and work due to affordable housing, cheerful, friendly people, a diversity of employment opportunities, and a thriving arts and entertainment scene. But, Kansas City is also recognized for its generous volunteer and philanthropic community.

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