Advocacy, pain points, giving back, and Bobcats

Cornerstone League recognizes member credit unions’ news about their growth, expansion, and community endeavors to exemplify the “people helping people” philosophy.

Tinker FCU hosts Rep. Frank Lucas

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Tinker Federal Credit Union hosted U.S. Rep. Frank Lucas (R-CD3) at their corporate office in Oklahoma City last week. Lucas, who will have served 30 years in Congress this May, is the chairman of the House Committee on Space, Science, and Technology.

Lucas is also the longest-serving Republican member of the House Financial Services Committee, as a member of the Digital Assets, Financial Technology, and Inclusion Subcommittee and the Capital Markets Subcommittee. Lucas is also the longest-serving member on the House Committee on Agriculture, where he was formerly chairman.

During his visit with TFCU executive management, the congressman described the tense political environment in the 118th Congress. The discussion also included efforts to avert a shutdown of the federal government, National Defense Reauthorization, artificial intelligence, data security, interchange, and the regulatory environment.

This was Rep. Lucas’s first visit to the TFCU corporate office, which is in Oklahoma’s third congressional district.

_{Attendees from left to right: Patrick Yager, EVP, chief risk officer; Teresa Avery, EVP, chief information officer;
Kathy Kelso, EVP, chief financial officer; Nancy Ward, EVP, chief administration officer; Oklahoma Rep. Frank Lucas;
Cindy Jamison, EVP, chief people officer; Connie Wall, EVP, chief operating officer;
Dave Willis, president and chief executive officer; and Keili McEwen, VP, government affairs.}

University FCU employs AI to alleviate pain points for members

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A recent article in CreditUnions.com about using AI to better serve members features University Federal Credit Union, a $4 billion cooperative in Austin, Texas.

In “Artificial Intelligence, Genuine Member Experience,” UFCU’s Esther Edevold, vice president of insights and innovation, discusses the ways it is using new technology to alleviate pain points and reduce friction.

From the article:

When UFCU looked at its data, it learned a full 40% of deposits going through an automated channel such as an ATM or the mobile app were put on hold. The percentage was much lower for checks deposited in the branch or drive-thru.

This was especially frustrating for members who needed immediate access to their funds. Not surprisingly, members had a lot of negative feedback about the inconsistency in check holds. Net Promoter Score surveys and comments identified it as a serious pain point UFCU needed to solve.

The credit union tapped artificial intelligence, specifically machine learning, to continuously learn about members’ behaviors. It explored different models to leverage statistical data like never before and created an even better check-hold model.

Read more of this article, without a subscription, using this link.

Mazuma Credit Union honors 75th anniversary with give-backs

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Mazuma Credit Union celebrated its 75th Anniversary in 2023 with free community events, promotional rates for members, and record-breaking give-back efforts encompassing the organization’s time, space, and resources. Mazuma’s 40 Hours for Good program gives team members 40 hours of paid volunteer time annually to support Kansas City nonprofit organizations focused on the arts, financial education, or community development.

In 2023, participation exceeded 6,300 hours of volunteer time given, including a record-breaking Give Back Day in October in which 180 team members spent over 1,400 volunteer hours with five local organizations at 10 locations across the city. 

Mazuma also offers the community spaces at its headquarters and branch locations free of charge for any organization looking to meet and discuss social or economic initiatives that make Kansas City a better place. Organizations like Hope House, Inclusion Connections, and Kansas City Community Gardens benefited from this initiative throughout 2023.

The Mazuma Foundation, created in 2015 as part of the credit union’s focus on providing financial assistance to the community it serves, recently announced its 2023 grant recipients. These local nonprofit organizations have been awarded a combined total of $90,000 in grants to fund a wide range of community-focused initiatives that promote accessibility, opportunity, and quality of life across the Kansas City metropolitan area.

In addition, Mazuma’s Corporate Social Responsibility program supported several community partners throughout the year, including Big Brothers Big Sisters, Reconciliation Services, the Victory Project, and the Center for Advanced Professional Studies, bringing the credit union’s total monetary give-back of time, space, and financial assets in 2023 to over $360,000.

Additional 2023 grant recipients include:

• Boys and Girls Club of Kansas City
• Community LINC
• Exceeds Expectations
• HopeKids Kansas City
• Ivanhoe Neighborhood Association
• Kansas City Community Gardens
• Literacy KC
• reStart Inc
• YMCA of Greater Kansas City

“Our higher purpose is reflected not just in the banking products and services we provide, but also in the larger positive impact we make on our communities,” said Deonne Christensen, Mazuma’s president and CEO. “Kansas City is lucky to be home to so many passionate people and organizations that do so much good, and Mazuma is honored to be able to provide support for our 65+ community partners by sharing our time, our space, and our resources.”

Greater Texas opens doors for BobCat Shadow

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Texas State University Junior Kate Ramirez was the guest of honor at Greater Texas Credit Union for the annual BobCat Shadow event. The BobCat Shadow is an annual program sponsored by  Texas State University to give students a behind-the-scenes experience to learn from (or shadow) professionals in a selected career field or industry.

The program matches students with employers, community partners, and alumni so they can explore career paths and gain exposure in the business world. The event is part of the university’s career services division. This was the first year Greater Texas participated in the program.

Ramirez, a marketing major from the Houston area, shadowed the credit union’s marketing team throughout the day, exposing her to a “day in the life” of various aspects of her future career field. She also spent quality time with President/CEO Howard Baker, a Texas State alumnus.

“Exposing students to the business world while in college gives them better perspective about the types of things they might do in their future career,” said Texas State alumna Rachel Bond, AVP of community engagement and public relations at Greater Texas Credit Union. “The classroom can teach them the basics, but BobCat Shadow shows them how they might apply that knowledge in a real-world business setting.”

Besides Baker and Bond, Greater Texas has several Texas State Alumni on staff, including Brandon Garcia, an accountant; John Corona, a junior commercial loan officer; and Tiffany Strange, AVP of learning and development.