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Seven Principles Blog
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In 1844, a small group of weavers from Rochdale, England created the blueprint for how their newly-formed cooperative would operate and serve the local community. These values, known as the Seven Cooperative Principles, serve as the operating guidebook for credit unions and cooperatives throughout the world. This blog was created to honor that legacy and to showcase the everyday efforts of credit unions in the Carolinas that embody the cooperative mission and purpose.

 

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Summit CU sponsorship benefits women entrepreneurs

Posted By Jeff Hardin, Tuesday, May 19, 2015
Updated: Wednesday, May 20, 2015

Principle Five: Education, training, and information. Credit unions provide financial education to their members as well as the communities they serve.

Principle Seven: Concern for community.
Since credit unions are locally owned financial institutions, they are committed to investing in the community.  

 
 Heather Pendrak (left) and Destiny
Riley won prizes at the Summit
CU-sponsored "PitchPocalypse"
event.
Heather Pendrak, a local high school teacher, won first place in ReBuildUp, LLC's “PitchPocalypse” business plan contest held at Greensboro Central Library on Sunday, May 17th. Summit Credit Union sponsored the contest. Heather's winning idea was for a 3D scanning company that scans finished goods for furniture market clients and others creating files that can easily be printed out using 3D printers.

As the first place winner, she will be receiving $200 for her new company, one year membership to the Greensboro Chamber of Commerce, three months of accounting help from Michael Robinson Accounting, LLC., and access to Elon's Business Clinic.

Second place went to Destiny Riley, a rising Senior at UNCG, for her startup specializing in replacing toxic nail products with safer ones for area salons. She won $100 along with Greensboro Chamber membership, three months of accounting help, and legal assistance from Elon's Business Clinic.

Both entrepreneurs now move on to ReBuildUp's “Startup Test Flight” three month class to test out their business concepts in the real world. Once completed, both become eligible for micro loans up to $5,000 each from the Greensboro Community Development Fund.

Michael Norbury, Manager of ReBuildUp, LLC says: “We've found that micro lenders who offer their own pre-loan business education courses still end up with candidates lacking real world entrepreneur experience. Our Startup Program has been designed to provide this missing piece for applicants.”

To qualify for the PitchPocalypse, Heather and Destiny took part in the “ReBuildUp Course” held the day before at the Central Branch Library. During the four hour course, they joined others in playing a series of business mini-games that focused on economic fundamentals, idea development, and marketing tricks. The ReBuildUp Course, PitchPocalypse, and Startup Test Flight make up ReBuildUp, LLC's “Startup Program” that helps aspiring teen and adult entrepreneurs test the waters of small business for a three month period with monetary, networking, accounting, and legal filing assistance.

ReBuildUp plans to hold the next ReBuildUp Course and PitchPocalypse in late July at Greensboro Central Library.

Tags:  Principle Five  Principle Seven  Summit CU 

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Video showcases key Center for Smart Financial Choices program

Posted By Jeff Hardin, Monday, May 18, 2015

Principle Five: Education, training, and information. Credit unions provide financial education to their members as well as the communities they serve.

Principle Seven: Concern for community. Since credit unions are locally owned financial institutions, they are committed to investing in the community.

The Center for Smart Financial Choices recently released a video showcasing its Adult for A Day program. The five minute video includes video highlights and interviews with students & teachers at two Forsyth County schools. Betty Ann Falkner, the Center's director, also appears in the video and describes the Adult for A Day program.

The Adult for A Day budget/credit score workshop targets students in grades 9-12. Teens explore the importance of making choices in managing a budget while learning how credit scores affect their expenses.

Tags:  Principle Five  Principle Seven  The Center for Smart Financial Choices 

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Spring CUDE graduates include three from Carolinas

Posted By Jeff Hardin, Monday, May 18, 2015
Updated: Monday, May 18, 2015

Forty-seven credit union professionals, one of the largest classes yet, became Credit Union Development Educators (CUDEs) after being guided by dedicated program facilitators and mentors through the intensive Credit Union Development Education (DE) Training from the National Credit Union Foundation (the Foundation). The Spring DE training was held April 29-May 6, 2015 at the Lowell Center on the University of Wisconsin campus in Madison, Wis.

The graduating class included three professionals from North Carolina: Tracy Singleton (Local Government FCU), plus David Jacobs and Julie Waller (Coastal FCU). Singleton, Jacobs and Waller were joined by the League's Jeff Hardin, who served as one of six mentors to the class during the week.

Team Projects

DE Training provides critical lessons in cooperative principles, credit union philosophy and international development issues while incorporating challenges credit unions face today. During the recent week-long program, participants were involved in group exercises, field trips, discussions with speakers from around the credit union system, and are required to complete team projects proposing solutions for credit unions to help alleviate or eliminate challenging situations in any given area. For this class’ final case studies, participants worked through and presented solutions to critical issues that included opening an Islamic banking center, board development and recruiting including the debate over compensation, credit union solutions to predatory lending, microfinance to women in Africa, building member engagement for growth, and a small credit union merger dilemma.

2015 Fall DE Training Registration Already Filled

“The strength of the DE program is growing, and we are excited to have already filled up the Fall DE program,” said Lois Kitsch, Spring DE Training co-facilitator and National Program Director for the Foundation. “We will soon open registration for the 2016 DE Training sessions.”

For professionals interested in 2016 DE Training, visit ncuf.coop to learn more about the program and upcoming registration dates. If you are interested in earning the CUDE certification, please contact Jeff Hardin.

Tags:  Credit Union Development Education  National CU Foundation 

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2015 Principles & Philosophy Conference registration now open!

Posted By Jeff Hardin, Friday, May 08, 2015

Registration for the 2015 Principles & Philosophy Conference, to be held November 1-3 in Greenville, SC, is now open! Class size for this unique conference experience is limited and your prompt registration is encouraged.

A limited number of scholarships to attend the conference will be offered to credit unions of $100 million in assets or less. If you are interested in more information about scholarships, please contact Jeff Hardin

Please click here for more information or to register for this special conference event

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National Credit Union Foundation publishes Impact Report

Posted By Jeff Hardin, Friday, May 08, 2015

Principle Five: Education, training, and information. Credit unions provide financial education to their members as well as the communities they serve.

Principle Six: Cooperation among cooperatives. Credit unions work together to improve services to members and build sustainable communities.

Principle Seven: Concern for community. Since credit unions are locally owned financial institutions, they are committed to investing in the community.

 
You can learn more about the programs of the National Credit
Union Foundation by watching this video.

The National Credit Union Foundation (NCUF) released its 2014 Impact Report earlier this week. With an ongoing mission to be a catalyst to improve people’s financial lives through credit unions, NCUF summarized the accomplishments made by credit unions utilizing the Foundation's programs in 2014.  

Among the highlights are more than 104,000 high school students attending 1,050 financial reality fairs in the past five years, as well as nearly 1,400 credit union staff who have become certified financial counselors through the FICEP program.

Core foundation programs such as Real Solutions also resulted in a non-prime auto lending pilot program in 2014. This program offered nearly 3,400 auto loans totaling $43 million during the year. And 134 professionals became Credit Union Development Educators in 2014. 

These are but a few of the wonderful achievements made utilizing the innovative programs of the NCUF in 2014. To read the complete Impact Report, please click here

 

Tags:  Principle Five  Principle Seven  Principle Six 

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