Blogging with the CEO - 2011

I would like to thank all of you for being members of NorthPark Community Credit Union. Through your support our credit union continues to grow, currently our assets total over $57 million and members number over 7,200.  We are small enough to know you by name and big enough to satisfy most of your consumer financial product needs.

We strive to provide the highest level of personal service to assist you, our members/owners, in reaching your financial goals. Our membership base has grown, which is a testament to our growing popularity in the community we serve.  As a NorthPark member/owner, know that your credit union is better than other financial institutions; our consumer loan, savings rates and fee structure are among the best.  With the redesign of our EXTEME CHECKING account, NorthPark charges no monthly account fees.  We still offer Totally Free Checking!  Unlike other area for-profit financial institutions who elected to charge to use debit cards, we PAY YOU to use your debit card through our 1.0% CASH BACK program.

These factors are important facts to consider, but I believe what makes NorthPark really different is our guiding principle to “always try to do what is best for the member.”  Emphasizing our belief that we are “Not for Profit, not for Charity, but for Service”, we will make every attempt possible to help you satisfy your consumer financial needs at the lowest possible cost to you.

The other major difference is our set of core values that we believe and practice:

·        Honesty — to be sincere and truthful in all our dealings

·        Integrity — to have high principles and standards

·        Fairness — to always price products and treat members fairly

·        Respect — to listen and always give you consideration

·        Excellence – to provide you with service that goes above and beyond your expectations

We thank you for your belief in us and the loyalty you have shown by using our products and services. NorthPark is more than assets and income.  NorthPark is about people and dreams. We will continue to offer products and services to satisfy your needs and hopefully help your dreams come true.

This time every year, I sit in my chair and warm up to the movie “It’s A Wonderful Life”.  My wife thinks I am crazy.  The reason I watch it?  It is to remind myself what NorthPark means to Boone County.  The plot is centered on the struggle between Potter’s bank and the tiny member-owned financial cooperative….a struggle for the town and its people.  Potter considered average people “cattle” ready for the “harvest”.  Recently, we have seen the greed Big Banks (and some local community banks!) have expressed through their attempts to charge for debit card use or by eliminating free checking.  What’s next?  Boone County is fortunate to have a credit union headquartered right here!

We each need to stick together, to help our families flourish.  As members of a credit union we can do what we can to keep our money in our pockets, not in Potter’s.

Happy Holidays,

Dan Robbins, President/CEO

Dear Members,

Giant mega-banks and some community banks are moving to eliminate free checking.  Many ban customers have already received notifications disclosing new fees!  Bank of America had to shut down its website for a time because of the complaints received from customers regarding their new $60 yearly debit card charges. 

Because of meddling by Congress, mega-banks will be earning less on fees associated with debit cards.  To make up for this cut in income, many banks have decided to eliminate free checking.  Many community banks (unaffected by these laws) have decided to follow the mega-bank lead, increasing their own profits.  An Independent Community Bank Association member survey says banks will choose one or more of the following actions:

Action # 1        61% will impose a much higher minimum balance 

Action # 2       50% will impose a debit card use fee (an annual or monthly fee)                              

Action # 3        72% will eliminate free checking altogether                                                      

Action # 4        70% will charge for services that were free

Bank customers need not allow banks to beat them over the head with their “fee stick”.  Bank customers having to pay up to $180 yearly to have a basic checking account is not funny.  Families need every dime they can keep to maintain their households.  Mega-banks and many community banks actually think they “own” their customers.  People have the power to make a choice.  Beginning November 5^th, a nationwide movement, “Bank Transfer Day”, celebrates consumer’s alternative to greedy banks.  You can choose a credit union!

What will you do?  If your account is with a bank, you can win by moving it to NPCCU.  We will help you switch!  Also, beginning November 1st, NPCCU will offer 1.0% Cash Back on debit card purchases!  We will pay you to move your auto loan from a bank to NPCCU!  On top of that, NPCCU has the best Visa credit card in the area, too! 

Aren’t we lucky there is a credit union in town?  As a member-owner, you can even run to be on the volunteer Board of Directors!  How’s that for People Power?

      Sincerely,

Dan Robbins, President/CEO                                                                                                         

NorthPark Community Credit Union

As we prepare for the August Annual Meeting, our members are encouraged to consider volunteering to serve on the Board of Directors or Supervisory Committee.  There is a lot of helpful information on our website that describes opportunities that are unique to financial institutions.

NorthPark Community Credit Union is a co-operative owned and controlled by the people who use its financial services. These people are members, and they all own shares in the credit union. As shareholders, members of many credit unions share in the benefits of membership, as well as its products and services.

As a co-operative, NorthPark is dedicated to the people and community we serve.  As a member-owner of this co-operative, who may be interested in volunteering to serve as one of its leaders, you may be interested in learning about the Seven International Co-operative Principles that guides NorthPark’s leadership values.

1st Principle: Voluntary and Open Membership

Co-operatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.

2nd Principle: Democratic Member Control

Co-operatives are democratic organizations controlled by their members, who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. In primary co-operatives, members have equal voting rights (one member, one vote) and co-operatives at other levels are organized in a democratic manner.

3rd Principle: Member Economic Participation

Members contribute equitably to, and democratically control, the capital of their co-operatives. At least part of that capital is usually the common property of the co-operatives. They usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing the co-operative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the co-operatives; and supporting other activities approved by the membership.

4th Principle: Autonomy and Independence

Co-operatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their co-operatives autonomy.

5th Principle: Education, Training and Information

Co-operatives provide education and training for their members, elected representatives, managers and employees so they can contribute effectively to the development of their co-operatives. They inform the general public - particularly young people and opinion leaders - about the nature and benefits of co-operation.

6th Principle: Co-operation among Co-operatives

Co-operatives serve their members most effectively and strengthen the co-operative movement by working together through local, national, regional and international structures.

7th Principle: Concern for Community

While focusing on member needs, co-operatives work for the sustainable development of their communities through policies accepted by their members.

In today’s world of self-serving big banks and multi-national corporations, it is good to know that there is a “not for profit” organization like NorthPark in our community, a true cooperative guided by real values, that serves its members first and foremost.  As we approach the Annual Meeting, I hope that you can appreciate what was started here in May, 1933 during the depths of the Great Depression.  Call me at 317-733-2200 ext. 138 if you want to know more about volunteer leadership opportunities or what values guide your credit union.

Dan Robbins, President/CEO

NorthPark Community Credit Union

A few months ago I spoke to you about a goal we had "To be Everywhere, All the time" for our members. Beginning in May, we took another step in that direction with Mobile Web Banking. Haven't tried this new free service? It is simple, safe and easy, using your smartphone or other hand held device. You can check balances and transfer funds any time of the day or night, 365 days a year. Updates are "real time" with up to the second account information and no transfer delays. Soon we will have Mobile Text Banking with text messages providing account alerts. Mobile App Banking will take mobile banking to a higher level of access ease and functionality. More on that later! Call a Members Service Rep for more information on how to get started with Mobile Web Banking today.

We are genuinely excited about our new Relationship Rewards program. It rewards members who grow their use of our products and services, with lower rates on new loans, higher rates on new certificates and CASH! That's right! You can earn real cash by just using the valuable products and services of the credit union. You can also select to give your cash to local and national charities in your name. In today's world of higher fees, you can control the fees you pay through an understanding of how to use the Relationship Rewards program to your benefit. There is no difficult, insulting "Peggy In Iceland" to deal with. Our Peggy (and others like her) works for you! Check out the details on our website or inquire with any member service representative.

If you can't get the information you need from Online Banking or Mobile Web Banking, we have expanded our ability to serve your needs through our new Call Center. From 8am-till-8pm, Monday through Friday and from 8am-till-2pm on Saturday you can reach a NPCCU member service representative. What's next?
You tell us! After all, we work for you, our owners. What do you expect from your credit union? We would love to hear from you. We are sending out thousands of emails to members in early-June asking them some simple survey questions. If you get one, answer it, please. If we don't have your email address on our records and you want to be heard, tell us by emailing us at info@northparkccu.org or contact us by phone or letter. Also, we are on Facebook and Twitter. Let us hear from you!

We are here to serve,
Dan Robbins, President/CEO NorthPark Community Credit Union 

Thank you for visiting our new and exciting credit union website! Since converting to our new core processor last November, a goal at NPCCU has been to offer our members a website that is easy to navigate. Needs for information varies from one age group to another. So we have designed the website to provide information that appeals to each phase of our members lives. After all, NPCCU wants your business...all of your business...throughout all of your life! To provide that kind of value we must be our members' trusted source for financial products and services...no matter where they are in life's journey.

Unlike banks and finance companies, which need to generate a profit to satisfy stockholders, we are a not-for-profit financial cooperative operating solely to serve the financial needs of our members-owners. That is our mission. Our sole reason for existing is to serve our members. We do that by staffing our branches with quality trained staff, by offering Online Banking for those who prefer online access 24/7, and by providing Bank by Phone, which allow members access to their accounts by telephone. As of May 1, 2011 you can add Mobile Banking to the list of services offered to access your accounts. We are excited about this important addition. Soon after, we will add Text Message Alerts to Mobile Banking, with our own app (application) to access Online Banking through mobile devices with browsers. Call an MSR for more details! By the way...Mobile Banking is FREE!

On June 1, 2011, another exciting feature that will add real value to being a NPCCU member is our new Relationship Rewards program that will help members control their account fees, loan and deposit rates...all by using more of their own credit union accounts! You can earn and accumulate "relationship points" monthly. Then, redeem your points to earn lower loan rates, higher CD rates and CASH!
On a lesser, more FUN note, you can customize your PIN on ATM and Debit cards. Call an MSR for details. I hope that you will take advantage of our Mobile Banking, Relationship Rewards, Custom PINs and other NPCCU services. Once you start using them, I am confident you will soon find them indispensable...and see the value in your ownership/membership of NPCCU.

Your credit union's sole reason for existing is member-service...easy, quick and accurate. We are experimenting with a call center service that will extend our hours by phone from 8:00am to 8:00pm weekdays and later on Saturdays. The same people that trouble-shoot problems with our employees on behalf of members are successfully helping our members directly! It is working beautifully! Of course we are always available when you need us!

If you ever feel that we are not serving' your needs; please do not hesitate to call me at (317) 733-2200 ext. 138. Thank you again for visiting www.northparkccu.org and for your membership! Tell your friends to join NPCCU!

Sincerely,
Dan Robbins, President & CEO

I can't help but hear that you are tired of low rates on savings, money market accounts and certificates. Some experts are saying that the Federal Reserve's current policy to drive down interest rates to a 50-year low could not come at a worse time for many aging "Baby Boomers" reaching retirement. They find it very difficult to receive any kind of return on their money. What a perplexing decision to have to make! Should I rely on the safety and soundness of my credit union where my savings are guaranteed? Should I risk it in the stock market? Some say "yes" to the stock market, but many people still remember what happened over two years ago. Perhaps I should invest in real estate? Others don't think so.

The Federal Reserve claims they are trying to keep mortgage rates low in order to continue to help the housing industry. And there is some truth to that. The truth is if the Federal Reserve lets interest rates rise, the government would not be able to pay the interest on its crushing debt and deficits would soar. Many economic models are now predicting interest rates lower than they are today, all the way through 2012 and possibly beyond. What is a "saver" to do in the face of historically low rates and of rising inflation? Meanwhile, back at the credit union, we watch these events unfold.

Many companies (and credit unions!) have taken the opportunity of the recent down market to reinvest in their business. NorthPark Community Credit Union is no exception. NPCCU has doubled its membership and assets during the worst of times. We have spent hundreds of dollars in technology investments that drive new and improved member services, as well as delivery systems to better serve our local and long distance members. We expect that these improvements will not only increase productivity, but in time will keep the cost of doing business lower. As we continue to learn more about our new technology, more news is coming. Mobile web banking is coming in May 2011. Perhaps by the end of the year, Mobile Text and Mobile App banking will arrive. NPCCU's past three-year plan, devised during the height of the economic crisis, set lofty goals that dramatically enhanced efficiencies, sought to improve service quality, and guaranteed the continued safety and soundness of its members' money.

The year 2010 was a challenging year for the financial services industry, and for NPCCU. With the onslaught of scores of expensive new rules and regulations handed down by Congress, much of our productive time was spent on compliance issues. A lot of time was spent on our core processing and technology conversions and improvements to our phone system. We had a lot of members in financial trouble who needed our help. It was a very busy year. 2011 looks to be even busier!

Despite these obstacles, our employees accomplished a lot. We are especially proud to report to you that although we were facing a poor economy, we grew our membership dramatically, while maintaining a "well capitalized" position. We would like to thank you for your comments, support and trust as we move our membership forward. It is an honor to serve as President and Chief Executive Officer of this superb financial institution. By the way, we need you to tell your friends and family about us!

Sincerely,

Dan Robbins, President/CEO