State Central Credit Union is proposing a merger with a local credit union to better address economic challenges. It has the expertise and resources to partner with another credit union, including over 60 years of experience providing financial services, a full-service mortgage department, improved digital technologies, a strong focus on compliance, and efforts to build long-term member relationships. A merger would allow both credit unions to offer more products and services, expand technology use, meet regulatory requirements, increase membership and profits, and ensure future success. State Central believes it is well-suited for a partnership due to its leadership, resources, and commitment to providing a superior member experience.
VR-Tech Home Based Business Opportunity, VR-Tech Marketing Group Credit Restoration Services, VR-Tech Marketing Group Prepaid Account now Master Card, VR-Tech Marketing Group Auto Loans, VR-Tech Marketing Group My Care Plan and VR-Tech Marketing Group Ultra Score
As many regional banks consolidated or went
out of business during the recession, credit
unions stepped in to take advantage of the void
left by these lenders, particularly in auto lending.
In the last five years alone, credit unions have
maximized their indirect lending efforts
significantly, making them a growing force in
auto lending that is taking away market share
from banks. While credit unions' $1 trillion in total
assets seem paltry compared to the $16 trillion
amassed by banks in the U.S., these smaller,
community-based financial institutions have
begun to outpace their banking rivals when it
comes to auto lending.
The Positive Impact of Utility Credit Reporting WebinarExperian
Learn the importance and positive impact of utility data reporting. Experian will share what alternative data encompasses, how the new trade data is added, and specifically how energy, utility, and water companies can assist in improving their customers’ credit score. We’ll also walk you through the resources and support available.
You will get an inside look at the positive impact of alternative data reporting and learn how to:
•Improve collections
•Bolster credit profiles
•Positively impact credit scores
•Effectively assist your customers
Access to finance for the informal sectorM S Siddiqui
Bangladesh may formulate policies to use these sources to in credit reporting systems. There may be even legal framework like some other some economies to allow the sharing of information from non-traditional sources and authorised CRSPs to prepare CR for MSMEs.
VR-Tech Home Based Business Opportunity, VR-Tech Marketing Group Credit Restoration Services, VR-Tech Marketing Group Prepaid Account now Master Card, VR-Tech Marketing Group Auto Loans, VR-Tech Marketing Group My Care Plan and VR-Tech Marketing Group Ultra Score
As many regional banks consolidated or went
out of business during the recession, credit
unions stepped in to take advantage of the void
left by these lenders, particularly in auto lending.
In the last five years alone, credit unions have
maximized their indirect lending efforts
significantly, making them a growing force in
auto lending that is taking away market share
from banks. While credit unions' $1 trillion in total
assets seem paltry compared to the $16 trillion
amassed by banks in the U.S., these smaller,
community-based financial institutions have
begun to outpace their banking rivals when it
comes to auto lending.
The Positive Impact of Utility Credit Reporting WebinarExperian
Learn the importance and positive impact of utility data reporting. Experian will share what alternative data encompasses, how the new trade data is added, and specifically how energy, utility, and water companies can assist in improving their customers’ credit score. We’ll also walk you through the resources and support available.
You will get an inside look at the positive impact of alternative data reporting and learn how to:
•Improve collections
•Bolster credit profiles
•Positively impact credit scores
•Effectively assist your customers
Access to finance for the informal sectorM S Siddiqui
Bangladesh may formulate policies to use these sources to in credit reporting systems. There may be even legal framework like some other some economies to allow the sharing of information from non-traditional sources and authorised CRSPs to prepare CR for MSMEs.
The Digital Reserve Network ("DRN") is an open-source financial services suite designed to enable peer-to-peer payments, sustainable lending, and collateral free borrowing. The DRN will leverage a native cryptocurrency – Denarii. The Digital Reserve aims to create a public benefit by engaging in research and implementation of best practices for financial literacy the design and promotion of software or hardware solutions to increase financial accessibility and the flow of capital to disadvantaged or distressed communities.
With 2016 underway – and a constant need to stay atop the ever-changing regulatory environment – make sure you are aware of the primary topics the Consumer Financial Protection Bureau (CFPB) and financial regulators will focus on this year.
Among the hot topics, we’ll touch on rulemaking that will impact:
Data quality
Military Lending
Alternative data
Access to credit
Protecting and Serving Military Credit ConsumersExperian
Explore Experian's military lending insights to learn how to serve this audience, adhering to laws such as the Military Lending Act (MLA) and the Servicemembers Civil Relief Act (SCRA). Get updated on best practices and solutions to manage every aspect of the military credit journey.
Here's a quick overview of Credit Unions for anyone who would like to understand this type of financial services firm. Member owned, with products that are typical to banks. Perfect introduction to use for new customers. We can add to or modify this presentation for any credit union that would like a custom version for educating community groups. Contact us 316 680 6482.
Consumer Protection Listening Session: How Can You Protect Your Clients From ...NeighborhoodPartnerships
Sometimes the field of Consumer Protection feels like whack-a-mole. It seems like every day a new scam pops up to entrap our community members. What consumer protection issues are your clients facing? This session offers a chance for you to share your concerns and hear from your colleagues. Experts in the field will offer resources and tools to help keep your clients safe. We will also explore policy solutions to change the landscape of Consumer Protection in Oregon.
Diane Childs, Oregon Department of Consumer and Business Services
Jonathan Groux, Consumer Protection Section of the Oregon Department of Justice
Moderator: Sybil Hebb, Oregon Law Center
Presenting this set of slides with name - Credit Unions Powerpoint Presentation Slides. This PPT deck displays fourty two slides with in depth research. Our topic oriented Credit Unions Powerpoint Presentation Slides presentation deck is a helpful tool to plan, prepare, document and analyse the topic with a clear approach. We provide a ready to use deck with all sorts of relevant topics subtopics templates, charts and graphs, overviews, analysis templates. Outline all the important aspects without any hassle. It showcases of all kind of editable templates infographs for an inclusive and comprehensive Credit Unions Powerpoint Presentation Slides presentation. Professionals, managers, individual and team involved in any company organization from any field can use them as per requirement.
The paycheck protection program for small businessesMerchant Advisors
Here is a handy guide on what is the Paycheck Protection Program and it can help small businesses in the coronavirus pandemic. https://www.onlinecheck.com/blog/small-business-resources/paycheck-protection-program-for-small-businesses/
Rebroadcast scheduled for 9/14/13 1:00 - 4:00 pm EST http://cpa.tc/34y
70% of Businesses will turn to their CPA for advice on the Patient Protection and Affordable Care Act of 2010. MACPA created this special FREE townhall sponsored by our Exclusive Preferred Provider RJ Princinsky & Associates to help our members learn about what they need to know to advice their clients and employers about this new massive piece of legislation impacting businesses large and small.
Are you being asked by your clients and employers to figure out what they need to know and do, now and later, to stay complaint with all the provisions of PPACA? It is complex and changing but as the trusted advisor, you need to stay ahead of the questions they are asking. It isn't easy but this Special Town Hall, sponsored by MACPA's preferred provider of health care, employee benefit, HR and wellness services, will bring you up to date and answer the questions you have. Right now alll employer business managers and employee benefits managers should be taking steps to be sure they are prepared for the PPACA requirements that take effect later this year in 2014 and beyond. While some requirements vary based on employer size, business entity or type of health plan offered, other requirements apply to all individuals and employer groups regardless of employee size or type of business entity. This special edition Town Hall will provide participants with the information and resources that will help you make informed business decisions and advise clients related to this evolving legislation.
You will learn about Health Exchanges, the individual and employer mandates, DOL requirements, impacts on your benefits plans, penalties and taxes, ratings and premiums and lots more.
The New CFPB, New Simplified Disclosures & How Your Credit Union Will Be Affe...NAFCU Services Corporation
On July 21, 2011, the Dodd-Frank Act’s Consumer Financial Protection Bureau assumed its oversight and enforcement powers over the nation’s financial institutions. Changes include new and revised compliance disclosures, which will have a significant impact on credit unions. In this 2011 NAFCU Annual Conference session discover how your credit union can overcome these and other challenges, including those related to the new Privacy and Risk-based pricing notice requirements that took effect on January 1, 2011. Plus, be prepared for the new trend of simplified disclosure requirements that is likely to follow.
Presented by Ted Dreyer, Senior Attorney, Wolters Kluwer Financial Services
More info at http://www.nafcu.org/wkfs
A Primer on the Amendments introduced in the U.S. House to undermine the creation of a much-needed Consumer Financial Protection Agency, in the Wall Street Reform and Consumer Protection Act.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
The Digital Reserve Network ("DRN") is an open-source financial services suite designed to enable peer-to-peer payments, sustainable lending, and collateral free borrowing. The DRN will leverage a native cryptocurrency – Denarii. The Digital Reserve aims to create a public benefit by engaging in research and implementation of best practices for financial literacy the design and promotion of software or hardware solutions to increase financial accessibility and the flow of capital to disadvantaged or distressed communities.
With 2016 underway – and a constant need to stay atop the ever-changing regulatory environment – make sure you are aware of the primary topics the Consumer Financial Protection Bureau (CFPB) and financial regulators will focus on this year.
Among the hot topics, we’ll touch on rulemaking that will impact:
Data quality
Military Lending
Alternative data
Access to credit
Protecting and Serving Military Credit ConsumersExperian
Explore Experian's military lending insights to learn how to serve this audience, adhering to laws such as the Military Lending Act (MLA) and the Servicemembers Civil Relief Act (SCRA). Get updated on best practices and solutions to manage every aspect of the military credit journey.
Here's a quick overview of Credit Unions for anyone who would like to understand this type of financial services firm. Member owned, with products that are typical to banks. Perfect introduction to use for new customers. We can add to or modify this presentation for any credit union that would like a custom version for educating community groups. Contact us 316 680 6482.
Consumer Protection Listening Session: How Can You Protect Your Clients From ...NeighborhoodPartnerships
Sometimes the field of Consumer Protection feels like whack-a-mole. It seems like every day a new scam pops up to entrap our community members. What consumer protection issues are your clients facing? This session offers a chance for you to share your concerns and hear from your colleagues. Experts in the field will offer resources and tools to help keep your clients safe. We will also explore policy solutions to change the landscape of Consumer Protection in Oregon.
Diane Childs, Oregon Department of Consumer and Business Services
Jonathan Groux, Consumer Protection Section of the Oregon Department of Justice
Moderator: Sybil Hebb, Oregon Law Center
Presenting this set of slides with name - Credit Unions Powerpoint Presentation Slides. This PPT deck displays fourty two slides with in depth research. Our topic oriented Credit Unions Powerpoint Presentation Slides presentation deck is a helpful tool to plan, prepare, document and analyse the topic with a clear approach. We provide a ready to use deck with all sorts of relevant topics subtopics templates, charts and graphs, overviews, analysis templates. Outline all the important aspects without any hassle. It showcases of all kind of editable templates infographs for an inclusive and comprehensive Credit Unions Powerpoint Presentation Slides presentation. Professionals, managers, individual and team involved in any company organization from any field can use them as per requirement.
The paycheck protection program for small businessesMerchant Advisors
Here is a handy guide on what is the Paycheck Protection Program and it can help small businesses in the coronavirus pandemic. https://www.onlinecheck.com/blog/small-business-resources/paycheck-protection-program-for-small-businesses/
Rebroadcast scheduled for 9/14/13 1:00 - 4:00 pm EST http://cpa.tc/34y
70% of Businesses will turn to their CPA for advice on the Patient Protection and Affordable Care Act of 2010. MACPA created this special FREE townhall sponsored by our Exclusive Preferred Provider RJ Princinsky & Associates to help our members learn about what they need to know to advice their clients and employers about this new massive piece of legislation impacting businesses large and small.
Are you being asked by your clients and employers to figure out what they need to know and do, now and later, to stay complaint with all the provisions of PPACA? It is complex and changing but as the trusted advisor, you need to stay ahead of the questions they are asking. It isn't easy but this Special Town Hall, sponsored by MACPA's preferred provider of health care, employee benefit, HR and wellness services, will bring you up to date and answer the questions you have. Right now alll employer business managers and employee benefits managers should be taking steps to be sure they are prepared for the PPACA requirements that take effect later this year in 2014 and beyond. While some requirements vary based on employer size, business entity or type of health plan offered, other requirements apply to all individuals and employer groups regardless of employee size or type of business entity. This special edition Town Hall will provide participants with the information and resources that will help you make informed business decisions and advise clients related to this evolving legislation.
You will learn about Health Exchanges, the individual and employer mandates, DOL requirements, impacts on your benefits plans, penalties and taxes, ratings and premiums and lots more.
The New CFPB, New Simplified Disclosures & How Your Credit Union Will Be Affe...NAFCU Services Corporation
On July 21, 2011, the Dodd-Frank Act’s Consumer Financial Protection Bureau assumed its oversight and enforcement powers over the nation’s financial institutions. Changes include new and revised compliance disclosures, which will have a significant impact on credit unions. In this 2011 NAFCU Annual Conference session discover how your credit union can overcome these and other challenges, including those related to the new Privacy and Risk-based pricing notice requirements that took effect on January 1, 2011. Plus, be prepared for the new trend of simplified disclosure requirements that is likely to follow.
Presented by Ted Dreyer, Senior Attorney, Wolters Kluwer Financial Services
More info at http://www.nafcu.org/wkfs
A Primer on the Amendments introduced in the U.S. House to undermine the creation of a much-needed Consumer Financial Protection Agency, in the Wall Street Reform and Consumer Protection Act.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
CUSO vs. In-House: Growing Your Member Business Lending PortfolioLibby Bierman
In recent years, an increasing number of credit unions are starting, or expanding, their Member Business Lending (MBL) portfolios. This presents a number of challenges, including having the proper systems in place. And a decision must be made to outsource the function to a Credit Union Service Organization (CUSO), build it internally, or some combination of the two. In this webinar, Ancin Cooley, principal of Synergy Credit Union Consulting, and Mike Ford, director at Sageworks, discussed the growth in MBL, benefits and challenges of both CUSOs and internal departments, and provide recommendations for continued growth.
Bill Handel, vp of research at Raddon Financial Group, reviews the current regulatory environment and discusses the challenges and opportunities, identified at the recent CEO Strategies Group workshops, that lie ahead for credit unions.
If you are in the Mortgage or Real Estate Industry, United Credit Education Services can increase your companies profits by educating and assisting consumers with correcting there credit issues. Licensed in all 50 states.
A Very informative and detailed explanation of what your credit rights are, what your credit score means, and United Credit Education Services Company overview and procedures.
2. 33
Executive Summary
Because of recent economic downturns and government stabilization requirements, credit unions will have
to make some difficult decisions that will affect the way they currently do business, and as a result, drastically
change the industry landscape.
State Central Credit Union is not immune to this reality, but is in a position to offer its expertise and resources
to a metro Milwaukee credit union interested in combining forces to meet the challenges posed by the current
economic and regulatory environment. The credit union’s expertise and resources have been acquired through
the following developments:
For over 60 years, State Central Credit Union has provided high-quality products and services that mem-
bers find affordable, easy to use and that meet their personal financial goals. In recent years, State Central
has done a great deal to improve access to member accounts while protecting them from the rising tide of
fraud and identity theft.
State Central Credit Union offers a full-service mortgage department that provides affordable and practi-
cal mortgages to members, regardless if they are buying, building or refinancing a home.
Computer and other digital technologies have been implemented to improve the speed and efficiency of
credit union operations, allowing State Central to remain competitive with larger financial institutions
and to react quickly to changes in the business environment.
State Central has made compliance a high priority, diligently and continually developing procedures for all
departments to ensure adherence to government stipulations.
Through product promotion, education efforts and a commitment to service, State Central is dedicated
to building long-lasting member relationships that will help the credit union thrive well into the future.
The Board of Directors and executive management team believe that partnering with an area credit union will
allow both credit unions to continually offer high-quality products and services, expand the use of technology,
and fulfill compliance and regulatory requirements. Consequently, both credit unions will be able to increase
membership, profitability and guarantee their future success.
The following corporate profile outlines in detail State Central’s
product offerings, operations, long-term goals and steps that will
be taken to guarantee a successful merger. Upon conclusion, it
will be clear why State Central Credit Union is a strong candi-
date for a future partnership.
Profile_Final.indd 3 4/24/2009 10:47:41 AM
3. 15
Marketing
Advertising/Promotions
State Central Credit Union has used and continues to use a variety of advertising media to promote its products
and services directly to its membership and to the greater metro Milwaukee market. These include:
Statements and statement inserts (paper and electronic)
Lobby displays, flyers and brochures
Web site and on-line surveys
Direct e-mail campaigns
Special event programming
Newspaper and other print media
Direct mail
Member referral program
Radio
Trade shows and employer on-site visits
Internet advertising
Sales and Marketing Strategies
On consumer loans, borrowers can receive a rate 1/2 percent lower than the base rate if they open a State
Central checking account and keep the account active. This pricing effects all consumer loans except share
secured.
Member Services offers a $25.00 incentive, directly deposited into a member’s account, for each new
member referral.
Front-line staff is thoroughly trained on State Central’s products and effective cross-selling
techniques. Monetary incentives are available to staff for talking about and selling member-
ships, checking accounts and electronic services.
Mortgage Lending offers monetary incentives to State Central employees for mortgage referrals.
Employees can receive $25.00 for every application that is submitted; $50.00 for every referred
borrower who closes a State Central mortgage.
Radio has been used heavily to promote the Fresh Start Checking
account to a younger age demographic.
Because of advertising through Informa and retaining
servicing on mortgages sold to Fannie Mae, State
Central has been able to cut mortgage rates by an
1/8 percent. Informa has provided a means for
State Central to advertise affordably yet
remain competitive with larger financial
institutions.
State Central’s web site and mass e-mail
campaigns are used to educate members
and remind them of available products
and services.
*IMPORTANTNOTES: APRreferstoAnnualPercentageRate. ExampleofAPRis
basedonaminim
um$200,000loanwith20%
downwithP&Ipaymentof$1,215.22
ortizedover360months. Allstateandfederalregulationsandlendingpoliciesof
entralapplytothisoffer. RATESCANCHANGEATANYTIME. StateCentralis
ortunitylender.
apr*
Milwaukee
W
aukesha
W
estBend
Open
to
the
public
Open
to
the
public
Open
to
the
public
Open
to
the
public
Open
to
the
public
6.179
%
Buy or Refi!
30
year fixed, 0
points
or apply online at
www.statecentral.com
M
ortgage Lending:
(414) 778-1000
6.125
%
5.75%APR*
Don't put off your home improvement projects
or big ticket purchases! With this low rate on a
State Central Credit Union closed end home
State Central Credit Union closed end home
State Central Credit Union closed end home
State Central Credit Union closed end home
State Central Credit Union closed end home
equity loan
equity loan
equity loan
equity loan
equity loan, those needs and wants
just became more affordable!
No closing costs for
No closing costs for
No closing costs for
No closing costs for
No closing costs for
loan amounts
loan amounts
loan amounts
loan amounts
loan amounts
$50,000 or less!
$50,000 or less!
$50,000 or less!
$50,000 or less!
$50,000 or less!
Maximum term
is 5 years.
Other rates and terms
are available.
Consumer Lending
Consumer Lending
Consumer Lending
Consumer Lending
Consumer Lending
(414) 778-1000
(414) 778-1000
(414) 778-1000
(414) 778-1000
(414) 778-1000
Apply on-line at
Apply on-line at
Apply on-line at
Apply on-line at
Apply on-line at
central.com
central.com
ecentral.com
central.com
central.com
You won't find a home equity
You won't find a home equity
You won't find a home equity
You won't find a home equity
You won't find a home equity
loan rate better than this.
loan rate better than this.
loan rate better than this.
loan rate better than this.
loan rate better than this.
Profile_Final.indd 15 4/24/2009 10:49:30 AM
4. 22
Financial Statements
Balance Sheet
as of December 31, 2008
Assets
Cash $ 1,861,006
Investments
Corporate Central Credit Union 11,873,893
Available for Sale Securities, Net of
Amortization and Allowance 0
NCUA Share Insurance
Capitalization Deposit 532,795
Other Investments 10,000
Total Investments 12,416,688
Loans to Members
First Mortgage Loans 31,300,067
Auto Loans 2,510,459
All Other Loans 14,301,173
Total Loans 48,111,699
Allowance for Loan Losses (186,124)
Land & Buildings (net of depreciation) 996,291
Other Fixed Assets 477,142
Other Assets 1,601,177
Total Assets $65,277,879
Liabilities and Reserves
Member Savings
Checking $13,477,184
Certificates 10,192,550
IRAs 2,428,318
All Other Shares/Member Deposits 25,363,979
Total Member Savings 51,462,031
Accounts Payable/Other Liabilities 815,153
Reserves
Regular 4,359,612
Contingency 8,641,083
Total Reserves 13,000,695
Unrealized Gain/(Loss) 0
Total Liabilities & Reserves $65,277,879
Net worth: $13,000,000
Net worth to total assets ratio: 19.9o
(as reported by the NCUA)
Figures compiled December 2008
Profile_Final.indd 22 4/24/2009 10:49:38 AM
5. 25
Reasons for Merger and Merger Implementation
State Central Credit Union...a Solid Choice
Why should Veteran’s Administration Credit Union consider State Central Credit Union as a potential merger
partner?
State Central’s Board of Directors and executive management team can bring a wealth of experience to
Veteran’s Adminstration Credit Union and provide sound leadership to meet the challenges of the changing
economic climate.
State Central has committed vast resources towards improving its technological capabilities and can extend
these capabilities to Veteran’s Administration Credit Union. These technological improvements can allow
Veteran’s Administration Credit Union a wider range of products and services to offer to members, accessible
anywhere at any time.
State Central can offer Veteran’s Administration Credit Union members several options in mortgage financing
through its experienced, full-service Mortgage Department, eliminating the need for Veteran’s Administration
Credit Union members to look elsewhere for their mortgages. As a result, current relationships Veteran’s Ad-
ministration Credit Union has with its members are solidified.
State Central has made a concerted effort to make sure all operations are compliant with state and federal regu-
lations and works diligently to stay on top of complance and regulation changes within the industry. State Cen-
tral’s expertise can help Veteran’s Administration Credit Union navigate through compliance issues and imple-
ment sound procedures.
Along with technological improvements, State Central has greatly increased security of member accounts to
help prevent identity theft and other forms of fraud. State Central can help Veteran’s Administration Credit
Union improve security efforts, thereby protecting its membership.
Combining the resources of Veteran’s Administration Credit Union and State Central will provide both credit
unions with greater opportunities to increase marketing efforts, develop quality products and services, increase
membership, increase profitablility and meet the demands of the current economic climate as well as future
challenges.
Like Veteran’s Administration Credit Union, State Central is committed to providing superior member service
and helping members achieve their personal financial goals. Veteran’s Administration Credit Union members
can expect the same quality of service from State Central as they have always received.
Merger Commitment
State Central Credit Union is committed to the success of a merger, tak-
ing whatever steps necessary to meet the goals of both credit unions. The
products and services of Veteran’s Administration and State Central
Credit Unions will be used in such a way to provide the widest range of
financial services to all members. Every feasible attempt will be made
to retain as many Veteran’s Administration Credit Union staff mem-
bers as possible and to utilize their talents fully in developing this
new partnership. State Central Credit Union is also committed
to open communication about the merger with its members and
the members of Veteran’s Administration Credit Union through
direct mail, direct e-mail and information on credit union
websites. With careful attention and commitment, this merger
will strengthen Veteran’s Administration Credit Union and State
Central Credit Union and create a sound financial institution
ready to meet the challenges of the future.
Profile_Final.indd 25 4/24/2009 10:49:41 AM
6. CORPORATE PROFILE BACK COVER
10015 West Greenfield Avenue
Milwaukee, Wisconsin 53214
(414) 778-1000
Fax: (414) 479-2222
www.statecentral.com
April 24, 2009 10:46 AM ...Final
Profile_Final.indd 28 4/24/2009 10:49:47 AM