CU ONE employee still working--at 90

FERNDALE, Mich. (6/26/08)--Harry Nowell, an employee of Credit Union ONE in Ferndale, Mich., will turn 90 on July 8.

Nowell is a "joy and inspiration to those around him," Judi Desiletes, assistant to president/CEO Gary Moody, told News Now.

Nowell works 20 hours per week at the credit union in the mail processing center, sorting and distributing all of Credit Union ONE's mail. He also still drives himself to work.

Nowell, who was born in Montreal, Quebec, joined the credit union in 1981--his third career in a lifetime. He worked in the purchasing and facilities departments, but has worked in the mail processing center for the past 10 years.

He came to the U.S. when he was eight years old and acquired his citizenship as a young adult. He graduated from Central High School in Detroit and established residence in Ferndale, Mich., after marrying his wife, Elizabeth, in 1941. They have eight children, 11 grandchildren and six great-grandchildren.

He worked for Ford Hospital from 1946 until he retired as assistant to the chief of maintenance in 1986.

He then managed a manufacturing facility in Davison, Mich. He retired--again--in 1981, returned to the Detroit area, and started work at Credit Union ONE.

Nowell and his wife earned Volunteers of the Year Awards several years ago. Nowell volunteered for the Red Cross Mobile Blood Bank, Ford Hospital, Providence Hospital, St. Joseph Oakland Hospital and Beaumont Royal Oak Hospital.

He enjoys spending time with his family, visiting his summer home in Beulah, Mich., and cheering on his favorite sports teams--the University of Michigan and the Detroit Tigers.

courtesy of cuna.org

Teenagers learn the importance of saving by spending

MADISON, Wis. (6/26/08)--Teenagers learned they needed to spend less than they earned at a Mad City Money simulation sponsored by Credit Union National Association's (CUNA) center for personal finance.

The event was one of the elective classes for youth at the Wisconsin 4H Leadership Conference. Students from an investing class at Madison, Wis.'s Edgewood High School joined the group.

More than 50 teenagers received an identity that included an occupation, a family, and a set monthly income. Debt--both credit card and school loan--were included in their mythical future.

With calculators in hand, the students visited eight Mad City merchants to purchase housing, transportation, household goods, child care, clothing, entertainment and more. A credit union provided financial counseling. Chance played a role in the form of the Fickle Finger of Fate, which delivered unexpected expenses such as a flat tire or broken eye glasses and windfalls such as winning a local karaoke contest or hosting a successful garage sale.

"The power of a simulation is much greater than a school lecture or advice from Mom and Dad," said Lin Standke, manager of youth programs for CUNA. "We take money seriously, but that doesn't mean that learning about it can't be fun. This was an opportunity for the teenagers to experience for themselves the effects of making bad money decisions.

"You can see those mental light bulbs click on when students discover that the buying an expensive house and a luxury truck means they can't afford food or diapers for their kids. This is a realistic, non-boring way for them to learn how to make choices about money."

One student summed up the activity: "Now I will spend my money wisely and think carefully about what I need and then go with some wants. And when I need help, I will come to the credit union."

Another student put it in succinct teen speak: "I'm gonna save my butt off!"

courtesy of cuna.org

In the Media: Maine CUs tell it like it is

BANGOR, Maine (6/26/08)--Maine credit unions, a member, and the Maine Credit Union League educated readers of The Maine Edge.com about the credit union difference in an in-depth article Wednesday.

The article began with Brewer (Maine) FCU member Mike Curran. Curran told the newspaper he likes his $37.5 million asset credit union for its simplicity, convenience of location, and the financial services--and for recognizing him every time he visits the branch. He preferred a small institution that can't be bought.

Bangor FCU President/CEO Stephen K. Clark talked about the democratic, cooperative structure of credit unions, which represents "a much different model than the conventional stock ownership of most banks."

Bucksport-based Seaboard FCU CEO Kyle Cashburn described the difference in for-profit (where the company maximizes the financial return for stockholders) and not-for-profit (it maximizes the financial return for its member owners) businesses.

Richard Kaul, president/CEO of Brewer FCU, noted credit unions' rich history based on urban financial cooperatives in Germany and credit unions' service to people of modest means. He also said credit unions are expanding to serve small businesses. "The backbone of Maine's economy is moms and pops," Kaul told the newspaper.

Jon Paradise, spokesman for the Maine Credit Union League, discussed the growth in popularity the credit union industry has seen in the state and why credit unions are popular. About half of the state's population belongs to a credit union, he told the newspaper.

As cooperatives, credit unions are exempt from state and federal income taxes and return excess profits to their members, Paradise said, noting the constant battle with banks.

Also discussed: field of membership growth and expansion through technology and shared branching; credit unions cooperation with each other in shared branch networks,, and credit unions' cooperative nature meaning combining.

The article noted credit unions' collaboration, concluding that "all who were interviewed shared a common belief in community...but also a camaraderie among seeming competitors not normally found in any industry."

courtesy of cuna.org

Less driving may mean insurance savings

NEW YORK (6/25/08)--As the price of gasoline reaches record highs across the country, millions of Americans are finding ways to cut back on driving to save money. What drivers may not know is they may be eligible for lower insurance rates as a result of driving less (The Wall Street Journal June 12).

Whether it's from combining errands, biking or carpooling, a recent study by the Consumer Federation of America (CFA) found that Americans who cut back on driving can save up to 15% on auto insurance. According to the study, the average auto insurance premium in the U.S. is $830, so a savings of 15% could mean more than $120 back in your wallet.

Insurance rates are based on several factors, one of which is the number of miles you drive. If you've stopped driving to work, CFA estimates your insurance costs may drop 10% to 15%. If you now only drive partway to school or work, your savings may average 5% to 10%. And even if you've simply cut back on errands or consolidated your driving, you still may be eligible for a rate cut.

J. Robert Hunter, director of insurance for CFA, recommends you call your insurance company and ask if you qualify for an immediate rate reduction (consumerfed.org June 10). Savings will vary depending on your coverage, but it never hurts to check on it.

If you call your auto insurance agent, be prepared to make your case. Explain what you're doing to drive less, and estimate the number of miles you save each month.

For more information, read "Finding Extra Savings on Auto Insurance" in Home & Family Finance Resource Center.

courtesy of cuna.org

Workers' comp experts tout benefits of education

HOLLYWOOD, Fla. (6/24/08)--A commitment to safety and health in the workplace from top management and a proactive return-to-work program can help prevent workplace injuries and reduce the duration and cost of disabilities, workers' compensation experts told credit union attendees at the Discovery Conference Friday.

Experts included Jim Hunt, underwriting specialist, CUNA Mutual Group credit union protection division; Kurt Salter, account consultant, national market loss prevention, Liberty Mutual; Paul Bedrosian, service director, Liberty Mutual; and Fred Filiaggi, Midwest loss prevention manager, Liberty Mutual.

"Top management, supervisors, and all employees play a critical role in injury prevention," Salter said. "Identifying causes for common workplace injuries and taking steps to mitigate those risks can greatly decrease incidents of injury."

Injuries caused by overexerting oneself through excess lifting or pushing was the most common cause of disabling workplace injuries in 2005, according to research by Liberty Mutual. CUNA Mutual's claims data supports the findings, Hunt said.

Employees moving 50-pound bags of coins often use two-wheel hand trucks. Those don't work well, because bags tend to roll onto the floor. Dropped bags require employees to bend over and pick them up--which results in back and shoulder problems. The solution is to use low-profile, four-wheel carts and educate employees on proper posture and lifting techniques.

Educational resources, such as CUNA Mutual's Workers Safety Web page, should also be used, Salter said.

When injuries occur, a supervisor's response can play a key role in helping employees return to work, Filiaggi said. "Immediate response by supervisors to employees' reports of work-related discomfort significantly influences length of disability."

Negative supervisor attitudes and practices can impede return to work and rehabilitation for injured employees. Employees often perceived that their supervisors:

• Blamed the employee for the injury;
• Never contacted the employee after the injury;
• Didn't speak with the employee privately;
• Discouraged the employee from filing a claim;
• Didn't believe the symptoms were real;
• Were angry with the employee for being injured; and
• Didn't try to work out solutions with the employee.

Supervisors responding positively to reports of work-related discomfort can have significant and independent effects on disability outcomes, Filiaggi said. "It's very important to communicate regularly and positively with employees. Show them that you care, encourage them and tell them you look forward to their return to work."

Supervisors trained to properly respond, communicate and problem-solve with employees reduced new disability claims by 47% and active lost-time claims by 18%.

"Credit unions need to report claims quickly, help direct medical care and provide alternative duty to workers who can work, but can't yet do all the functions of their everyday job," he said.
CUNA Mutual and Liberty Mutual partnered in 2007. Liberty is a compensation insurance provider and the second largest workers' compensation insurer in the nation. The Discovery Conference ended Saturday.

courtesy of cuna.org