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Money Matters Blog

Monday, November 25, 2013

Help Us Help Others This Holiday Season

'Tis the season for giving and Community Financial Credit Union is pleased to announce the return of their Warming Hearts and Homes charitable program for the 2013 holiday season. Beginning Sunday, December 1, 2013, Community Financial will contribute up to $30,000 to local nonprofit organizations that provide heat, food and clothing for low income families. 
“We will donate up to $10,000 each week, for three weeks, to a different charitable organization, said Sarah Cousineau, Community Financial’s Marketing Manager. “We are excited about the opportunity we have to make an impact in the communities we serve through the Warming Hearts and Homes program.”  

Community Financial members and the community are invited to participate in this year’s Warming Hearts and Homes campaign. 
Here’s how you can help:
Community Financial will donate $25 every time someone does the following: 
·         “Like” us on Facebook – Community Financial Credit Union
·         Tweet the hashtag #CFCUwarms on Twitter
·         Text CFCUwarms to 70 000.

Funds raised during week 1, December 1st-7th, will be donated to The Heat and Warmth Fund (THAW).  THAW provides emergency energy assistance for low-income individuals and families.  The second week donation, from December 8th-14th, will help stock the shelves at local food pantries. For the final week, ending on December 21st, Community Financial will donate to The Salvation Army’s “Coats for Kids” program.

Giving to your community has never been easier.  Each Facebook “like”, #CFCUwarms tweet, and CFCUwarms text to 70 000 equals a $25 donation to help the organizations listed above. So like, tweet and text…together, we can make a difference.

Monday, November 18, 2013

Holiday Shopping Made Easier

The holidays arrive at the same time every year and still never cease to catch people by surprise.  Gift-giving, entertaining and holiday travel expenses can add up quickly.  Applying for a holiday loan from Community Financial Credit Union can give you the resources you need to get through the holiday season.
It’s this time of year when many people rely on credit cards to subsidize extra expenses but with average annual percentage rates (APRs) at 16.99%, the odds of incurring major debt in the long run increases substantially.  Securing a holiday loan from Community Financial is a better alternative.  Members can apply for a holiday loan with an APR as low as 4.49%!

Holiday loans at Community Financial are available for up to $3,000 with a maximum term of 12 months.  With a holiday loan, you can budget for the upcoming months knowing exactly how much you’ve borrowed, what the interest will be, and when it needs to be repaid.  With a lower interest rate than credit cards, we make it easier for you to pay off your holiday loan in a short amount of time.  Holiday loan applications are available at your nearest Community Financial branch and online.  Tis’ the season to pay us a visit!

Monday, November 11, 2013

Team Member’s Success Shows Why Credit Union Maintains Excellence

When Community Financial Credit Union received its eighth annual award as one of Metro Detroit’s 101 Best and Brightest Companies to Work For™, Cathy Meyers, Community Financial’s vice president for Corporate Resources, was very pleased but not surprised.
Her career at Community Financial exemplifies how the credit union values its team members, recognizes their potential and provides them with opportunities to develop and advance.  Cathy was enrolled in a co-op program at Northville High School when she saw a job posting for a teller position at Community Financial.  She began working as a teller at the Northville office while she was a high school junior.   

After graduation she continued to work at Community Financial and was promoted to assistant manager of the Canton branch during the late 1980s.  Subsequently, Cathy was promoted to branch manager, a position she held for ten years.

After she had two children, Cathy wanted to work part-time.  “Community Financial was great about that.  I began working in human resources (H.R.) in a part-time position and was eventually promoted to manager of H.R. The chief executive officer (CEO) recognized potential in me and promoted me to a vice president position.  Today I’m vice president of Corporate Resources and I’m responsible for Human Resources, Quality Assurance, and Education and Development,” said Cathy.

One of the ways Community Financial excels as an employer is by helping team members develop their professional capabilities and take on new responsibilities.  “One of the things we do really well is recognizing emerging leaders--letting people grow with the organization and show their potential,” explained Cathy.

Community Financial offers an Emerging Leaders Program that helps high-performing team members gain the experience and skills to take on more complex roles within the organization. In addition, Community Financial offers educational programs to help team members learn more about financial services so they can serve members better.  “We’re still a small organization.  It’s great—our CEO still does team member orientation, so our team members really get to learn first-hand,” said Cathy.

“We’re very family-oriented.  We support each other.  There is a true sense of community.  We have a lot of long-term team members.  We retain people because they feel cared for and listened to,” Cathy points out.
A supportive culture, a sense of community paired with career and educational development opportunities are qualities that together, create an organization where team members enjoy their work helping Community Financial members.

Monday, November 4, 2013

Elementary Student-Run Credit Union Breaks Record

Thornton Creek Elementary in Northville, MI is Community Financial’s featured student-run credit union. They hold the record for the largest number of deposits during a deposit day with 96 students making deposits. Community Financial would like to congratulate the student volunteers for all of their hard work. Great job Thornton Creek!  Thornton Creek is one of 39 schools participating in Community Financial’s 2013 - 2014 Student Run Credit Union Program.

The student-run credit unions provide a great channel for students to start saving early in life. This program allows students, in the communities we serve, to establish savings accounts in their own school. Participating students work as branch managers, tellers, computer operators, bookkeepers and marketing reps as they run the credit union and serve their peers.

During the 2012-2013 academic year, over 2,000 student members from 36 participating schools deposited over $129,300.  Participating school districts include:
  • Plymouth-Canton Community Schools
  • Northville Public Schools
  • Novi Community Schools
  • Northern Community Schools
  • Canton Charter Academy
  • South Canton Scholars Charter Academy
  • Plymouth Scholars Charter Academy
For a complete list of participating schools, please visit this link.

The program was initiated in the 1990-91 academic year as a way to provide financial education to students in southeast and northern Michigan. The main goal was to expose students to money management skills and to give them an understanding of basic financial transactions.  The student credit unions are one of several educational programs offered to youth by Community Financial.

“Community Financial is passionate about our mission to teaching students the importance of saving in elementary school, providing a way to grow those savings in middle school and then offering access to their savings and checking accounts in high school. This program truly prepares students for the ‘real world,’” said President and CEO Bill Lawton.

This program also gives students the opportunity to learn real life skills through the interview process. Credit union personnel provide human resources presentations, teach students how to properly fill out applications, write a resume and interview.  Students undergo an interview and training to run the credit union in their schools. Parents and students can set up savings accounts through one of the school-based credit unions at any time.