CenterPoint Spring 2012
This issue of CenterPoint features coverage of the Great New England Credit Union Show and the Rising Star award winners; an explanation of the VITA program; and an exploration of what Bank Transfer Day meant for local credit unions.
spring.2012 A publication of the Massachusetts Credit Union League, New Hampshire Credit Union League and the Credit Union Association of Rhode Island Fourth Great New England Credit Union Show Breaks Records Stories Inside: 06 Jeanne Dâ€™Arc Celebrates 100 Years 08 RI Credit Unions Bowl for Special Olympics 10 Wish Children Visit Credit Unions in NH THE BEST OF ALL WORLDS. The industry’s leading core processing solution, Symitar’s Episys. Delivered by a service provider, owned by credit unions, just for credit unions. Providing the security, quality of service and greater efficiencies for credit unions to grow and take their member service to an even higher level. ® Compare service, efficiencies and targeted marketing results. Technology Services Check Processing Direct Marketing Services Shared Branching synergentcorp.com/DownloadWhitePapers Fourth Great New England Credit Union Show Breaks Records page 16 New England Credit Union Services, LLC 800-842-1242 Massachusetts Credit Union League, Inc. www.maleague.org New Hampshire Credit Union League www.nhcul.org Credit Union Association of Rhode Island www.cuassociationri.org Daniel F. Egan, Jr., President EDITORS: Robert B. Kimmett Marguerite A. Thorsen CONTRIBUTORS: Donna M. Bevilacqua Robert Delaney Bonnie L. Doolin Kathleen A. Enderlin William F. Nagle Beverly Purtell Charlotte Whatley Contents Table ofFeatures PUBLISHED BY 04 MESSAGE FROM THE PRESIDENT The Warren Group 06 CREDIT UNION NEWS Design / Production / Advertising email@example.com 280 Summer Street, Boston, MA 02210 Phone: 617-428-5100 Fax: 617-428-5118 www.thewarrengroup.com ©2012 The Warren Group Inc. All rights reserved. The Warren Group is a trademark of The Warren Group Inc. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher. Advertising, editorial and production inquiries should be directed to: The Warren Group, 280 Summer Street, Boston, MA 02210. Call 800-356-8805. – Credit Union Championships a ‘Winner’ for Credit Unions of Rhode Island – Jeanne D’Arc Credit Union Celebrates 100th Anniversary – Credit Unions Flock to Washington, D.C. for CUNA’s GAC 07 08 COMMUNITY OUTREACH – Rhode Island Credit Unions Bowl a Strike for Special Olympics – Credit Union ‘Sweet Thank-You’ Visits in New Hampshire – Credit Unions Make a Blanket Statement with More Than 500 Blankets – League Presents Check to MA Coalition for the Homeless 08 14 UNCLE SAM WANTS YOU 26 CREDIT UNION PEOPLE 30 CALENDAR 13 spring.2012 | centerpoint | 3 M E S S AG E FRO M T H E P R E S I D E N T | by daniel f. egan, jr. BANK TRANSFER DAY A BOON FOR CREDIT UNIONS The effect of Bank Transfer Day was not limited to a single 24-hour period in November 2011. As it turns out, recently released first quarter statistics show that in the first quarter of 2012, 1.2 million people became credit union members. This influx of new members is evidence of a continuing enlightenment in regard to personal financial services. P eople are beginning to understand that there is a fundamental difference between doing business with an entity that is trying to maximize the benefit to shareholders at depositorsâ€™ expense, and one that is trying to maximize the return to the depositor /member as a true cooperative. It is not just an issue of lower fees or better rates on loans. It is a question of the mission of the institution. For a credit union, the mission is focused on meeting the financial needs of its members and the communities it serves. For credit unions, doing good is good for business. Whether it is providing the best products to its members at reasonable cost or supporting non-profit organizations in the community, it ultimately is all about doing good. Being part of a credit union brings people closer to the community. The combined resources of a credit union provide more opportunities for individuals in a community to borrow and save in a way that benefits them. The mere presence of a credit union in a community benefits everyone in the com- 4 | centerpoint | spring.2012 munity, even people who are not members. A research project conducted by the Filene Research Institute showed that pricing from all financial institutions in a community was better if there was one or more credit unions in that community. By providing better rates and lower fees, the credit union presence caused all institutions to keep their rates and fees lower. The first quarter growth in credit union membership looks like part of a continuing trend in consumer behavior. People now recognize a qualitative difference between credit unions and banks. That qualitative difference is not limited to lower fees and better loan rates, but is part of a larger sense of commitment to a better quality of life for everyone in the community. This realization will make credit unions more popular in the future and will help build stronger self-sustaining communities. â€˘ Daniel F. Egan, Jr., president A commitment to New England The Federal Home Loan Bank of Boston is a trusted partner committed to the success of your financial institution and the communities you serve. As a reliable provider of liquidity and business solutions to financial institutions across New England, we’re here for the long term—committed to the region’s housing and community development needs. Make the most of your opportunities. Call 1-888-595-8733. 800 Boylston Street • Boston, MA 02199 • www.fhlbboston.com C R E D I T U N I O N N EWS CREDIT UNION CHAMPIONSHIPS A ‘WINNER’ FOR CREDIT UNIONS OF RHODE ISLAND Photos courtesy of the Providence Journal Central High School and Hope High School compete in the Boys State Championship game. La Salle Academy defends the basket against St. Mary Academy – Bay View in the Girls State Championship. For the 22nd consecutive year, the annual Credit Union Championships proved to be a huge success. Nearly 5,000 spectators (a combined total for both the girls and boys basketball finals) attended the two-day event at the Ryan Center, located at the University of Rhode Island on Friday and Saturday, March 9 and 10, 2012. Credit union sponsorship of this statewide tournament provided Rhode Island’s top high school athletes the opportunity of a lifetime to compete at the Ryan Center. Fourteen of Rhode Island’s credit unions helped sponsor the event that provided them ad space in the Credit Union Championships program book as well as visibility on the scoreboard. Additional sponsorship came from the Credit Union Association of Rhode Island with support from Alloya Corporate Federal Credit Union. On a statewide level, marketing efforts included radio and television spots, and a press conference was held prior to the games on March 8, at the Ryan Center. The press conference was well attended by press correspondents, high school athletic directors, and captains from the participating basketball teams. Provided by the sponsoring credit unions, post game “Player of the Game” trophies were awarded to each competing team. In addition, sweatshirts were provided to the final girls and boys teams, and the winning teams received a “State Champs” hat. • JEANNE D’ARC CREDIT UNION CELEBRATES 100TH ANNIVERSARY Jeanne D’Arc Credit Union celebrated its 100th anniversary on February 12, 2012. To commemorate this important date in its history, a yearlong celebration is planned, which will include special events for members, employees, and the community. The new anniversary logo, which incorporates spindles from former textile mills to illustrate the number 100, is designed to recognize both Jeanne D’Arc’s history as well as the industrial history of its birth place. “This is a significant milestone for Jeanne D’Arc Credit Union,” said Mark S. Cochran, president and chief executive officer. “We are 6 | centerpoint | spring.2012 excited to share this yearlong celebration with our members and the region. Their belief in Jeanne D’Arc’s mission has allowed us to grow and help the community prosper over the past 100 years. We couldn’t be more appreciative of their faith in us.” Jeanne D’Arc Credit Union was founded as a cooperative credit society designed to encourage frugality and economic self-sufficiency among Lowell’s Franco-American population. Jeanne D’Arc has grown substantially over the past 100 years, but its mission remains the same – to help each member make smart financial choices. • CREDIT UNIONS FLOCK TO WASHINGTON, D.C. FOR CUNA’S GAC Nearly 4,000 credit union officials converged on Washington, D.C. for the Credit Union National Association’s (CUNA) 2012 Credit Union Governmental Affairs Conference (GAC). This annual event is the largest credit union gathering held in the nation each year and it is certainly one of the most important. It provides credit union executives, officials, regulators, and trade group leaders an opportunity to gather together and learn about the most important legal and legislative issues facing credit unions. This year the topic that was foremost in the minds of attendees was member business lending. For a number of years, credit unions and their representatives have been working to increase the limits on credit union business lending, which would free billions of dollars in loans for small businesses. These businesses that now do not have access to the credit that they need would subsequently be able to grow their businesses and hire thousands of new employees all at no cost to the American taxpayer. Not surprisingly, this effort continues to meet with stiff opposition from bank lobbyists. On Wednesday of the GAC, groups of credit union officials from Massachusetts, New Hampshire, and Rhode Island took to the Capitol for a series of meetings with their elected representatives and their staffs. The group visited the offices of most of the members of their Congressional delegations and briefed them on the particulars of Senator Mark Udall’s (D-CO) Credit Union Small Business Jobs Bill (S.2231), and the corresponding House bill, Small Business Lending Enhancement Act (H.R. 1418), filed by Representative Ed Royce (R-CA). They also took the opportunity to rebut the inaccurate charges that groups of banking lobbyists had made about credit unions and this legislation. • Representative Barney Frank met with members of the Massachusetts delegation. From left to right: CUNA President and CEO Bill Cheney; Tim Garner, Digital Federal Credit Union; Mark Cochran, Jeanne D’Arc Credit Union; Frank; Jim Regan, Digital Federal Credit Union; Bernie Winne, Boston Firefighters Credit Union and League Chairman; and League President Dan Egan. First row, from left: Robert Young, Northeast Credit Union; Susan Beaubien, Bellwether Community Credit Union; Rep. Charles Bass; Claire Castanino, Bellwether Community Credit Union; Mark Warner, Triangle Credit Union; Ron Rioux, St. Mary’s Bank Credit Union. Second row, from left: Peter Kavalauskas, Northeast Credit Union; Ron Covey, St. Mary’s Bank Credit Union; Mike L’Ecuyer, Bellwether Community Credit Union; David Degulis, Triangle Credit Union. Third row, from left: David Bellman, St. Mary’s Bank Credit Union; Jerry Gouveia, Northeast Credit Union; Guy Chapdelaine, St. Mary’s Bank Credit Union. spring.2012 | centerpoint | 7 C O M MU N I T Y O U T R E AC H RHODE ISLAND CREDIT UNIONS BOWL A STRIKE FOR SPECIAL OLYMPICS The winning team from Greenwood Credit Union, along with the Special Olympics Rhode Island athletes, displays the coveted bowling trophy. Pictured from left to right, front row: Special Olympics Rhode Island athletes Michael Lucca, Christine Harris, Chris McMaugh, and Jeff Girard. Back row: Bowlers William Thibodeau, Joslyn Clemm, James Irving, Cassie Novicky; and chairman of the Credit Union Association of Rhode Island’s Social Responsibility Committee David Dupéré. Kristen Rojas (left), Pawtucket Credit Union, and Mary Ellen Buckley (right), Westerly Community Credit Union, display one of the popular raffle prizes from this year’s event. The dynamic duo raised $1,875 from the raffle. 8 | centerpoint | spring.2012 The Credit Union Association of Rhode Island’s annual “Strike for Gold” fundraising event for Special Olympics Rhode Island, held at the East Providence Lanes, was a striking success. Twenty-eight teams of bowlers representing 11 credit unions and the Association came together on March 28 for a bowling tournament that raised more than $11,200 for Special Olympics Rhode Island. The credit unions that participated were: Alliance Blackstone Valley Federal Credit Union, Columbus Credit Union, Coventry Credit Union, Greenwood Credit Union, Kent Hospital Federal Credit Union, Navigant Credit Union, Pawtucket Credit Union, People’s Credit Union, Rhode Island Credit Union, Wave Federal Credit Union, and Westerly Community Credit Union. “Every year, we are so excited by the way our credit unions step up to support Special Olympics Rhode Island and their athletes. This bowling tournament continues to be a great success – five years strong – and all the credit union teams have a lot of fun and a great time for a worthy cause,” said David Dupéré, chairman of the Association’s Social Responsibility Committee and executive vice president and COO of Wave Federal Credit Union. The tournament trophy was captured by one of three teams from Greenwood Credit Union. The team members included James Irving, Joslyn Clemm, Cassie Novicky, and William Thibodeau with an impressive combined score of 1,407. This is the third victory for Greenwood Credit Union. Navigant Credit Union’s team of Gary Furtado, Randy Sacilotto, Mike Tartaglia, and Jason Pise placed second with a score of 1,212. Pawtucket Credit Union’s team of Russ Duclos, Erik Malaguti, Gary Genest, and Annette Smith took third with 1,184. Just as important a win is the intense competition to see which team raises the largest amount of money for the event. Rhode Island Credit Union’s team of Nancy Zeppa, Gina DePalo, Terry Benson, and Adam Levine raised $1,150. The evening was an even greater success with the numerous raffle prizes donated by many credit unions. The committee extends its heartfelt thanks to Special Olympics Rhode Island for their donations, as well as to the credit unions for their overwhelming participation and support of this event. The true gold winners of the evening were the athletes who participated from Special Olympics Rhode Island, known as the Cranston Raiders. In total, more than $11,200 was raised. The Association’s Social Responsibility Committee extends its heartfelt thanks to all the bowlers for working hard to raise money for this event. The fundraiser provided the opportunity to bring the credit union community together in an activity that featured some spirited competition, but provided the opportunity for all, regardless of bowling ability, to have a good time. As stated by Dupéré, “We are grateful for the generous support and effort made by the credit unions and their teams who participated in this event. It would be very difficult to reach our goal of $60,000 without their support.” • spring.2012 | centerpoint | 9 C O M MU N I T Y O U T R E AC H CREDIT UNION ‘SWEET THANK-YOU’ VISITS IN NEW HAMPSHIRE From February 14 to 16, credit unions were treated to special treats and a personal thank-you from 27 Wish Children and their families on behalf of the Make-A-Wish Foundation® of New Hampshire in recognition of the contributions made by credit unions to make wishes come true for hundreds of children throughout the state. Many of the children brought photo albums and shared stories of their wish, in addition to meeting credit union employees. • New Hampshire Federal Credit Union President and CEO John Young sits back and enjoys the ride while Wish Child Sam takes control of the Ski-Doo during the recent Sweet Thank-You visits from wish children and their families to credit unions. THE FOLLOWING VISITS WERE MADE: Anheuser-Bush Employees Credit Union – Wish Children Trevor and Beth New Hampshire Federal Credit Union – Wish Children Hunter, Sam, and Jonah’s Dad Steve Bellwether Community Credit Union – Wish Children Sam and Mia New Hampshire Postal Federal Credit Union – Wish Children Padriac and Ashley, and Ashley’s Mom Diane Cheshire County Federal Credit Union – Wish Ambassador Nikki NGM Employees Federal Credit Union – Wish Ambassador Stephanie Cheshire Health Federal Credit Union – Wish Ambassador Stephanie Northeast Credit Union – Wish Children Nick and Toby Granite State Credit Union – Wish Child Samantha Precision Credit Union – Wish Ambassador Nikki Gropaco Federal Credit Union – Wish Child Austin Service Credit Union – Wish Children Emily, Hannah, and Sam Guardian Angel Credit Union – Wish Child Renee St. Joseph Hospital Employee’s Credit Union – Wish Children Madisson and Lindsay Heritage Family Federal Credit Union – Wish Children Katherine and Russell St. Mary’s Bank Credit Union – Wish Child Jordana Holy Rosary Credit Union – Wish Child Alex Triangle Credit Union – Wish Children Maura, MembersFirst Credit Union of N.H. – Wish Madisson, and Jocelyn Children Christian, Emily, and Ashley Woodlands Credit Union – Wish Child Renee • CREDIT UNIONS MAKE A BLANKET STATEMENT WITH MORE THAN 500 BLANKETS Leominster Credit Union President and CEO Gordon Edmonds and Executive Assistant Rachel Terrell (third from left) present Janet Shattuck (left) from Our Father’s House in Fitchburg and Virginia White, president of Ginny’s Helping Hand, Inc. (fourth from left) in Leominster, with some blankets. Leominster Credit Union donated 119 blankets to nine agencies in their local area. 10 | centerpoint | spring.2012 Massachusetts credit unions made a “Blanket Statement” during the month of January with the second annual Blanket Drive to help support the Massachusetts Coalition for the Homeless. Sixteen credit unions, along with the Massachusetts Credit Union League, distributed 517 blankets to the coalition and many community agencies throughout the state, including the House of Hope in Lowell, HAP Housing in Springfield, Abby’s House in Worcester, Our Father’s House in Fitchburg, Ginny’s Helping Hand in Leominster, and many others. These blankets make a difference by providing winter warmth for many children and families who seek relief from the bitter cold. “We are extremely pleased with the amount of blankets we collected this year,” commented Gordon Edmonds, president and CEO of Leominster Credit Union. “The amount being donated more than doubled from last year. It’s very rewarding knowing that we will help more families, and we are very proud of our dedicated staff and the communities that made this a very successful event.” Several credit unions, including CPCU Credit Union and St. Jean’s Credit Union, took the Blanket Drive to a new level and collected sheet sets, comforters, pillows, and other types of bedding, which will help the coalition’s new “A Bed for Every Child” initiative. The top five credit unions that collected the most blankets were: Leominster Credit Union, 119; Hanscom Federal Credit Union, 55; Worcester Credit Union, 51; Freedom Credit Union, 40; and MassMutual Federal Credit Union, 33. St. Joseph Hospital Employees Credit Union Treasurer/Manager Lucy Descoteau and Wish Child Madisson were all smiles during their visit. Along with the special cake pops she baked, Madisson also made a memory poster of her wish for the credit union in appreciation for all that the credit unions have done for the Make-A-Wish Foundation® of New Hampshire. The committee extends a special thanks to all the credit unions listed below that participated in this year’s Blanket Drive and looks forward to collecting even more blankets next year: Brookline Municipal Credit Union City of Boston Credit Union CPCU Credit Union Freedom Credit Union Hanscom Federal Credit Union Leominster Credit Union Medical Area Federal Credit Union MassMutual Federal Credit Union Polish National Credit Union RAH Federal Credit Union Seaport Credit Union St. Jean’s Credit Union STCU Credit Union Tewksbury Federal Credit Union ValleyStone Credit Union Worcester Credit Union Massachusetts Credit Union League • Several staff members at Holy Rosary Credit Union took time during the visit to meet with Wish Child Alex whose wish, an outdoor ice rink, was featured on the 2010 national Make-A-Wish Foundation® calendar. They are, from left to right: Holy Rosary Credit Union President and CEO Brian Hughes; Wish Child Alex; Christine Donnelly, senior teller; Carolyn Wood, branch manager; and Karen Downes, receptionist. “Your Go to Resource to Solve the Benefit Puzzle” Executive Compensation/Benefits • Attract/Retain Executives & Directors • Financing Strategies to Offset Costs and Increase to Earnings • Compliance/Monitoring The Pangburn Group Completely Independent fee only record keeper and compliance partner. Represents over 750 financial institutions across the nation. …. Thirty years of success protecting corporate Human and Financial Resources. and “Solving the Benefits Puzzle” Kaeding & Company - Leader in Integrated Employee Benefits 420 Lakeside Ave | Suite 303 | Marlborough, MA 01752 | 508.460.0165 | www.kaedingco.com spring.2012 | centerpoint | 11 C O M MU N I T Y O U T R E AC H LEAGUE PRESENTS CHECK TO MASS COALITION FOR THE HOMELESS Members of the Massachusetts Social Responsibility Committee, presenting Robyn Frost, Massachusetts Coalition for the Homeless, with a check for $125,000, included, from left to right: Rob Kimmett and Dan Egan, Massachusetts Credit Union League; Jon Reske, UMassFive College Federal Credit Union; Dave Plantier, MassMutual Federal Credit Union; Paul Marotta, Hanscom Federal Credit Union; Richard Wright; RTN Federal Credit Union; Nicole James, Medical Area Federal Credit Union; Robyn Frost, Massachusetts Coalition for the Homeless; Bernie Winne, Boston Firefighters Federal Credit Union; Rui Domingos, CPCU Credit Union; Charlene Bauer, Metro Credit Union; Debra Lee Surface, St. Jean’s Credit Union; and Steve Jones, Jeanne D’Arc Credit Union. 12 | centerpoint | spring.2012 At the February 10 meeting of the Massachusetts Credit Union League’s Social Responsibility Committee, Nicole James, chair of the committee, and League Chairman Bernie Winne presented Robyn Frost, executive director of the Massachusetts Coalition for the Homeless, with a ceremonial check for $125,000, which represented the donation that the League and its member credit unions made to the coalition in 2011. The donation was made possible by the generosity of credit unions from all over Massachusetts who supported and organized a wide variety of fundraising activities. The largest individual contribution came from Medical Area Federal Credit Union (MAFCU) that raised $24,000 from the “Walk Home” fundraiser. This walk was held in Dorchester Park in early June. It attracted a host of eager walkers who represented many generous donors. Hanscom Federal Credit Union stepped up once again with a tremendous effort as well. The credit union raised over $10,000 from an employee raffle, along with various other fundraising efforts. Together with the Annual Appeal, the chief fundraisers were the Credit Union Community Hope Initiative Golf Tournament, candy sales, and chapter contributions, which make a tremendous difference, as Frost noted when she accepted the check. “I am so thankful that the credit unions of Massachusetts are our partners. The spirit and generosity of your institutions is truly remarkable.” The Massachusetts Credit Union League’s Board of Directors and Social Responsibility Committee members extend their most sincere thanks to all the credit unions and chapters for helping reach the goal of $125,000, through the Credit Union Community Hope Initiative to benefit the Massachusetts Coalition for the Homeless. The generosity of the officials, staff, and members of so many credit unions throughout the state is a true testament to the philosophy of people helping people. Nicole James, president and CEO, Medical Area Federal Credit Union and chairman of the Massachusetts Social Responsibility Committee, received this year’s Paul J. Marotta Outstanding Service Award from League Chairman of the Board Bernie Winne (far right); League President Dan Egan (far left); and Hanscom Federal Credit Union Chairman of the Board Paul Marotta (second from right). At the same Social Responsibility Committee meeting, the Paul J. Marotta Outstanding Service Award was presented to Nicole James, president and CEO of the Medical Area Federal Credit Union (MAFCU). In presenting the award, Bernie Winne, chairman of the Massachusetts Credit Union League and president and CEO of Boston Firefighters Credit Union, cited the energy that James had brought to the task of raising funds for the Credit Union Community Hope Initiative and its partner the Massachusetts Coalition for the Homeless. He said that “Nicole brings passion to everything she does, and I have learned that if she is passionate about reaching a goal, you’d better not get in her way.” The MAFCU fundraiser, the “Walk Home” event, was held in Dorchester Park in early June 2011. This fundraiser was just one of many community activities that the credit union undertook to support the coalition and a number of other local community and charitable organizations. James currently serves as the chair of the Massachusetts Credit Union League’s Social Responsibility Committee. • te Comple A Perfect Alternative Solution to your and CORE Share Draft Processing Needs. > Nicole James Receives Outstanding Service Award FSI is pleased to announce that they are now offering Core Data Processing Services to credit unions nationwide. Through their partnership with EPL, FSI is offering i-POWER, a browser-based core data processing solution. An application with intuitive navigation and screens which present the end-user with at-a-glance member information and serves as the base of all member transactions. The core processing offering compliments FSI’s existing share draft processing, branch/corporate/member capture, statement rendering, fraud protection, disaster recovery and other products. FSI focuses on being a service provider, not just a data center, offering services that make a credit union's job easier. This partnership makes FSI the 'complete' alternative solution for credit unions. Serving the smallest to the largest credit union easily with a full suite of innovative products and solutions. spring.2012 | centerpoint | 13 UNCLE SAM WANTS YOU – TO PROVIDE TAX HELP Fee-Free VITA Program is a Different Kind of Tax Break By Christina P. O’Neill Twenty-five volunteers from IC Federal Credit Union, Leominster Credit Union, and Workers’ Credit Union collectively volunteered more than 900 hours of service between January 24 and April 11, assisting 150 individual clients and completing more than 225 federal and state tax returns. They saved clients an estimated $22,000 in tax preparation fees, returned more than $134,000 in Don’t miss the & strategic Planning Retreat Media: Size: Color: Date: Volunteer Leadership Institute At the Stowe Mountain Lodge in Stowe, VT September 23 rd - 26 th, 2012 STRATEGIC PLANNING RETREAT OFFERED ON THURSDAY, SEPTEMBER 27 TH, 2012 The institute will prepare credit union executives and directors to think strategically and plan for the future. An optional, strategic planning retreat will be offered at the conclusion of the institute, where your board can meet to build your plan. Sponsored by: Agency: Client: W.S.#: File Name: Type: Location: Artist: AE: Institute Cost Registration – $1,425 per person Guest Program – $425 per guest Hosted-Strategic Planning – $3,000 per credit union Ask about group discounts, member savings and returning attendee rates. www.TheParagonGroup.com www.theparagongroup.com for details and registration or call (888) 755-2725 - or - (800) 622-4015 for more information. The Paragon Group has built a sterling reputation in the credit union industry by consistently providing world class training and consulting services to Volunteer Directors and Supervisory Committee Members. Visit 14 | centerpoint | spring.2012 A COLLABORATIVE SUCCESS The Fitchburg/Leominster VITA project couldn’t have happened without the participation of any one of the players. Philip Richards, senior vice president of IC Federal Credit Union, says the IRS had first approached his credit union two years ago to propose VITA, but the credit union wasn’t in a position to do anything on a large scale. But when the three credit unions teamed up, the program could launch. The credit unions partnered with Leominster Public Library, which with its generous business hours and accessibility, has long provided tax help and volunteer tax assistance in partnership with the AARP Tax-Aide program. But that program has long wait lists. The library’s Head of Adult Services, Edward Bergman, says the library needed additional resources to expand the service. When the VITA partnership was proposed, “we were delighted,” he says. Ingrid Adade, director of marketing at Leominster Credit Union (LCU), says the collaboration transcended considerations of which credit union provided assistance to which member or prospective member. Additionally, the program is open to anyone who qualified by income – not just credit union members. for PDF to be put in “The Request credit union employee volunteers WorkZone Holding Tank gave immediate credibility and legitimacy to AE/AC: the program, which was crucial to the sucPDF uploaded to WorkZone cessful establishment of this new VITA site,” Holding Tank says Artist: library director Susan Shelton. “The public felt confident that credit union emNo. of Revisions: ployees had the1 professional knowledge and Center Point 4.75” x 4.75” CMYK 1/2012 VLI - East 2012 Volunteer Leadership Institute federal and state refunds. Davis Advertising MSIC 1166 MSC116_Print indd Server HD#7 JP BB/JM For many low- to moderate-income families, a tax refund is the biggest cash windfall they see all year. But the cost of commercial tax preparation – and opportunistic finance instruments that some preparers offer – siphon off a significant chunk of what Uncle Sam gives back. Several credit unions in Massachusetts and New Hampshire partner with the IRS to offer the Volunteer Income Tax Assistance program (VITA), which supplies free tax help to taxpayers who qualify by annual gross income, which last year was capped at $49,000 per household. In Massachusetts, three credit unions in the Fitchburg/Leominster area debuted a new VITA program this past tax season. www.MSIC.org understanding of confidentiality in financial matters.” Additionally the library was able to provide the needed computer equipment and WiFi for volunteer preparers, as well as a central scheduling number. Bryon Goguen of LCU says the project allowed him to make good use of his accounting background, and working with the IRS improved his tax knowledge. The IRS training for VITA and its template for tax assistance emphasized the importance of getting all of a client’s information, rather than relying on a “do it yourself” method. He met with his colleagues at other institutions and experience who in the community needed tax help. “[They] came in with bags and bags of receipts,” he says. “We would sit with them and comfort them, and [many] walked out with a smile on their face.” “It was one of those things that turned out better than expected,” says Shelton of the program’s debut year. The IRS apparently agrees. It told the participating credit unions that the turnout is one of the best debut-year numbers for a new site. It’s Time to Expect More from Currency Automation Solutions and Self-Service Coin Centers Doing Things the Right Way Currency Dispensers Centers ice Coin Self-Serv 19 1 61-201 50 Y E AR S Currency Recycle rs Contact us: 800-347-1414 ext. 336 firstname.lastname@example.org or visit www.magner.com continued on page 25 Got Apps? We Do! ...and they’re not games ...they’re productivity solutions for credit unions! Learn how COCC apps and other core processing innovations can help your credit union succeed. Core ProCessinG serviCe w w w. c o c c . c o m - 8 8 8 . 6 7 8 . 0 4 4 4 spring.2012 | centerpoint | 15 Fourth Great New England Credit Union Show Breaks Records The fourth Great New England Credit Union Show (GNECUS), held April 19 at the Holiday Inn Boxborough, had a record attendance of more than 700 attendees and 90 exhibitors. The attendees were clearly having a good time; the atmosphere was that of a large block party, as befits the community mission of credit unions. GNECUS, the largest credit union trade show in New England, was co-presented by the Massachusetts Credit Union League, the New Hampshire Credit Union League, and the Credit Union Association of Rhode Island, and The Warren Group, publisher of CenterPoint. Sessions covered topics such as the new federal regulations on troubled debt restructuring, new-business opportunities presented by reverse mortgages, and how to attract and retain younger members. Technology topics included core conversions, creating a paperless new account system using all-digital media, and optimal use of social media. 16 | centerpoint | spring.2012 spring.2012 | centerpoint | 17 The Rising Stars Breakfast, held before the main GNECUS event, honored 19 high achievers in the three-state credit union universe. Olympic Gold Medalist Tim Daggett gave a speech noting not only the demands of Olympic competition, but also, with wry humor, an athlete’s volatile emotional currency with the sports audience. He’s down! We knew he’d never make it. He’s up! We always knew he could do it. The speech drew knowing laughs from the audience. Name: Sandra C. Cano Name: Kristine Chiasson Age: 28 Age: 39 Title: Business and Title: Loan Officer Credit Union: St. Mary’s Credit Union Community Development Officer Credit Union: Navigant Credit Union Credit Union Location: Marlborough, MA Credit Union Location: Rhode Island Town of Residence: Milford, MA Town of Residence: Pawtucket, RI Career Highlights: I joined Navigant in July 2011 as its business and community development officer, an outreach position to bank to the underserved. Our first event in October partnered with the RI Young Professionals. I also created a series of business owners’ meetings for the community of Central Falls. Community Involvement: I serve on the following boards: YWCA RI; Latino Public Radio, where I also host a radio show; Juvenile Hearing Board of the city of Pawtucket; and ECAS Theater and the Central Falls Prevention Coalition. Biggest Success: With only nine months at the credit union, I have been able to establish valuable resource partnerships with different organizations across Rhode Island. The “Marketing the Underserved” initiative was implemented successfully because of dedication, team work, and determination. Dream Job: A leadership position in an organization with a good mission – the CEO of a credit union, for example. Working at the United Nations, UNICEF or a socially-driven organization dedicated to the advancement of youth would also be on the dream list. If you could compete in the Olympics in any sport, what would it be and why? Swimming, a sport requiring great discipline and determination. I am very competitive. Interesting fact: I grew up swimming and competing in my own country of Colombia. It releases my stress! 18 | centerpoint | spring.2012 Career Highlights: I have worked for St. Mary’s Credit Union since high school. With over 23 years of experience, I’ve held various positions in the credit union. I’m proudest of becoming a loan officer and co-administrator for our loan origination system. Community Involvement: I am involved with the local food pantry and other various community service events that our credit union is involved in or sponsors. Biggest Success: I was part of a team that implemented a complex new loan origination system in 2010. My work on this project got me named coadministrator. During its implementation, I developed and wrote a detailed manual covering all functions for system users. Dream Job: An international travel consultant and reviewer. If you could compete in the Olympics in any sport, what would it be and why? The marathon. It best demonstrates that life is not a sprint but a long journey, and those who persevere and work hard end up winning by completing the race. The Leadership Luncheon speaker was Roberta MacDonald of the Cabot Creamery Collaborative, who spoke of the advantages of teaming with other co-operative initiatives in the local community to enhance a credit union brand. General Session Keynote speaker Richard DeKaser of the Parthenon Group LLC spoke of the economy, devoting particular attention to the housing market. The event and its sessions highlighted both the strength and the potential of the credit union movement. Name: Bryon Goguen Name: Alexandra Tumbridge Age: 29 Age: 27 Title: Financial Analyst Title: Member Service Representative and Credit Union: Leominster Credit Union Credit Union Location: Leominster, MA Credit Union: Everett Credit Union Town of Residence: Leominster, MA Credit Union Location: Everett, MA Career Highlights: Throughout my professional career, I’ve experienced major milestones, including corporate re-brandings, mergers and acquisitions. My most recent position has been the most rewarding. I am involved in many high-level projects which directly impact revenue and will refocus the direction of the company. Community Involvement: I volunteer for the Boys and Girls Club Spelling Bee; CU4Reality; and VITA, a tax assistance program. I also volunteer to lead and mentor chapters of Delta Sigma Pi, a co-ed international business fraternity with more than 215,000 members worldwide. Biggest Success: Recognizing a community need for financial education and life skills training, I spearheaded a unique conference for 125 students this fall. Prominent speakers will address issues such as networking, personal branding, internships, and job-finding skills. This will make a tremendous impact in our community. Dream Job: Owning and operating a successful, well-respected winery. The wine industry is very competitive, and it would be both challenging and rewarding to create quality wines that lead to memorable experiences for the consumer. If you could compete in the Olympics in any sport, what would it be and why? The pentathlon. It requires skill in five different disciplines, all taking place in one day. It would be a formidable challenge, one that would test character, endurance, commitment, and strength. Teller Supervisor Town of Residence: Everett, MA Career Highlights: I joined the credit union in 2008 as a teller; since then, I have worked up to my current position. I am always willing to take on new challenges. The more I know, the more I can help others achieve their goals. I am flexible in my position to help out where it is needed. Community Involvement: I support the Massachusetts Credit Union League’s Annual Book Drive, Credit Union’s Annual Hat and Mitten Drive and a community organization, MASS B.A.D.G.E Inc., through in-branch promotions and enlisting members to contribute. I also attend Everett Chamber and Massachusetts CU League events. In December 2011, I participated in the city of Everett and Everett Chamber of Commerce Holiday Tree Lighting event. Biggest Success: With staff support, I can trim expenses and look for new income opportunities. Helping members and sharing my ideas on how to improve member services and operations with the help of my staff and the management team is my biggest success. Dream Job: After seeing a recent IRS presentation on processing CTRs and SARs from financial institutions, I want to learn more about the Bank Security Act and compliance. If you could compete in the Olympics in any sport, what would it be and why? Swimming. Since I was a little girl, I enjoyed being in the water. My grandparents had a pool in their backyard and my cousin and I would pretend we were in the Olympics and have our grandfather time us to see who was fastest. spring.2012 | centerpoint | 19 Name: Jose Pino Name: Nathan Saller Age: 24 Age: 37 Title: Virtual Banking Specialist Title: Vice President of Sales and Marketing Credit Union: Jeanne D’Arc Credit Union Credit Union: Bellwether Community Credit Union Credit Union Location: Lowell, MA Credit Union Location: Manchester, NH Town of Residence: Lawrence, MA Town of Residence: Milford, NH Career Highlights: My career development from an intern to a marketing professional over the last five years, as well as being entrusted to usher the credit union into the digital media era. Community Involvement: I volunteer as a musical instructor at the YMCA and LEC Youth Music Program, I am the treasurer of the Greater Lawrence Young Professionals Network, and I collaborate with the Greater Lowell Community Foundation’s start-up of a young professionals philanthropic group. Biggest Success: As new digital media and new technologies emerge, our newest online products and services have been successfully implemented as result of my hard work and support of the marketing department. They include mobile and text banking, mobile apps, Facebook, and Twitter, ratings and reviews, along with other exciting initiatives to be unveiled this year. Dream Job: Marketing consultant, with a focus on small-medium sized organizations and enabling them with strategies and tools for effective marketing. If you could compete in the Olympics in any sport, what would it be and why? The snowboarding competition. I prefer an environment with a cooler temperature and actually enjoy the snow. Why else would I still live in New England? 20 | centerpoint | spring.2012 Career Highlights: Being selected as the youngest member of the inaugural Filene Research Council i3 program; the opportunity to help to plan and implement a field of membership change, a name change, and most recently, a company-wide brand immersion program. Community Involvement: I have served on the New Hampshire Credit Union Marketing Committee since 1998, the America’s Credit Union Museum Marketing Committee since 2003, the Filene Research Institute’s i3 program, and a director of the NH Jump$tart Coalition for Financial Literacy since 2007. I am a current member of the Greater Manchester Chamber of Commerce Leadership program and former Director of Greater Manchester Habitat for Humanity. I am also a CU4Reality fair volunteer and am active in numerous capacities in my church. Biggest Success: The past two years the entire Bellwether team has grown loans by double digits, growing membership by over 15 percent from December 2009 to December 2011, and ramped up our marketing and public relations efforts – all while focusing internally on differentiating the credit union by making things easy for our members. Dream Job: Director of a kid’s summer camp, or perhaps an author, whitewater raft tour guide, or bush pilot. If you could compete in the Olympics in any sport, what would it be and why? Snowboard cross, a fairly new sport that basically involves who can get down the mountain first. In the Summer Olympics, playing beach volleyball. Name: Christopher Eden Name: Adam H. Sherman Age: 33 Age: 34 Title: Assistant Vice President of Title: Finance and Business Development Manager Information Technology Credit Union: People’s Credit Union Credit Union: Brotherhood Credit Union Credit Union Location: Middletown, RI Credit Union Location: Lynn, MA Town of Residence: Warwick, RI Town of Residence: Salem, MA Career Highlights: In nine years working for People’s Credit Union, I have progressed from the back office operations, retail, as a branch manager, and then as branch operations manager, prior to my current position. Community Involvement: For the past five years I have served on the Social Responsibility Committee for the Credit Union Association of Rhode Island, which has raised more than $500,000 for Special Olympics Rhode Island. I have also volunteered as a teacher for Junior Achievement in local elementary schools. Biggest Success: Switching industries nine years ago and accepting a position at the credit union! I have learned all aspects of the industry and have had wonderful growth opportunities. On a personal level, my marriage to my wife Leah, and my two children, Max and Lauren. Dream Job: I hope to continually learn new areas of the credit union and stay current with areas I already know, and I hope to someday lead a financial institution. If you could compete in the Olympics in any sport, what would it be and why? Hurdles, which require the athlete to be fast and precise, make quick decisions, and overcome obstacles. This applies to the business world and our daily lives. Career Highlights: My first credit union post was as an audit manager for the credit union auditing firm Anderson & French, P.C. (1999 through 2001). In 2001, I moved to Brotherhood Credit Union. During the summers of 2003 – 2005 I attended and graduated from CUNA’s Management School at the University of Wisconsin, Madison, and returned for the ’06 and ’07 summers as a graduate assistant. Community Involvement: My current community involvement includes: board member of the Lynn Rotary; past master of the Mount Carmel Masons Lodge (Lynn); district deputy grand secretary for the 9th Masonic District of Massachusetts; member of the Scottish Rite, Valley of Boston; and member of Shriners Aleppo Temple. Biggest Success: Among many successes, the greatest is becoming master at my Masonic Lodge by the age of 30. The skills I learned serve me every day as a credit union manager and leader. Dream Job: Following the legacy of childhood hero Larry Bird, becoming the next great Celtics small forward. I’m not too old – Paul Pierce is only one day younger than I am. If you could compete in the Olympics in any sport, what would it be and why? Track and field in the 400 meter dash. As a former competitive runner, I understand the mental and physical difficulties of this all-out sprint. workerscu.com spring.2012 | centerpoint | 21 Name: Kevin R. Zipps Name: Jon Krumdick Age: 31 Age: 31 Title: Assistant Treasurer and Consumer Loan Manager Title: Assistant Vice President and Credit Union: Jeanne D’Arc Credit Union Credit Union Location: Lowell, MA Credit Union: Workers’ Credit Union Town of Residence: Dracut, MA Credit Union Location: Fitchburg, MA Member Information Center Manager Town of Residence: Leominster, MA Career Highlights: I have worked at the credit union for almost 12 years, starting as a teller at our Lakeview Ave. branch in Dracut. I then worked my way up to a member service representative, a senior representative, head teller, assistant branch manager, and then to my current role. Community Involvement: I am a big brother, through Big Brother Big Sister of Greater Lowell, for two years. I also serve on the board of directors for the Young Professionals of Greater Lowell (YPGL), and the A.M.S.I Foundation. Biggest Success: Becoming a supervisor for the first time. I started with Jeanne D’Arc when I was 19 as an inexperienced teller and take tremendous pride in obtaining a supervisory position. Dream Job: Analyst for the NFL network. I would love to get paid to analyze game film and then discuss what I see. If you could compete in the Olympics in any sport, what would it be and why? As one of the world’s slowest men, I’d love to compete in the 100meter race, and be known as one of the world’s fastest men. Career Highlights: I have worked in credit unions for the last 11 years and achieved my current position through dedication to helping my members, staff, and peers achieve reaching their goals. My co-workers recently selected me as the STARS Rookie of the Year. Community Involvement: The United Way, Jimmy Fund, HYPE!, YP Connect, the Boys and Girls Club, the Relay for Life, and benefits for local people and families in need. Biggest Success: Working with the call center staff to raise callers’ awareness of several member-benefit products and services, and meeting new and existing key performance metrics for incoming calls. Dream Job: CEO at a local credit union. It would be a great honor and pleasure to work collaboratively with others to strategically improve the financial stability of individuals and the communities we serve. If you could compete in the Olympics in any sport, what would it be and why? The decathlon, which requires well-rounded athleticism, dedication and constant development and maintenance of one’s physical and mental abilities. Living this example through a well-rounded lifestyle benefits one’s health, relationships and production. Name: Joseph Rollo Name: Saritin Rizzuto Age: 36 Age: 38 Title: Assistant Vice President and Title: Community Relation and Business Development Officer Financial Accountant Credit Union: Workers’ Credit Union Credit Union: Metro Credit Union Credit Union Location: Fitchburg, MA Credit Union Location: Chelsea, MA Town of Residence: Ashburnham, MA Town of Residence: Lynn, MA Career Highlights: I have been at Workers’ Credit Union for almost seven years and have been fortunate enough to be part of the credit union’s success, despite very difficult economic times. I was promoted to AVP in 2006 following two successful mergers in the same quarter. Community Involvement: I have raised money and walked in the Relay for Life in Gardner for the past eight years, co-chaired the 2010 Workers’ Credit Union “United Way Campaign,” and coach Pop Warner football during the fall. Biggest Success: Revamping the budgeting data entry process and employee-access level audit at the credit union. I was able to turn multiweek processes into an hour, or less, task through Microsoft Excel functions. Dream Job: CFO of a successful company who gives back to its community and employees, or a baseball general manager. If you could compete in the Olympics in any sport, what would it be and why? Golf at the 2016 Summer Olympics. I really enjoy the game and Olympic training would allow me to play more. As an added benefit, golf is a skill that I could use the rest of my life. 22 | centerpoint | spring.2012 Career Highlights: The opportunity to change a person’s life, including helping homeless and financially-unstable people achieve secured affordable housing and financial stability; joining Metro Credit Union, and helping and empowering people through my position; organizing an initiative at the local Chamber of Commerce that enables the Latino business community to participate in monthly business-growth seminars; and spearheading a drive that raised more than $35,000 toward a college education for a child who lost her mother to domestic violence. Community Involvement: I am a member of the following boards: development chair, North Suffolk Mental Health Association; member, Casa Myrna Development Committee; and chair of the Adult Education Advisory Committee at Bunker Hill Community College. I also volunteer to read at a local elementary school through the Every Body Wins Program; I am a board member of the Chelsea Chamber of Commerce and chair of the Latino Business Division, as well as chair of their major fundraiser; past president of the Chelsea Rotary Club; founding member of Education for All; and I host an annual BBQ at my house to raise money and awareness about domestic abuse and the need for higher education. Funds benefit Education for All and Casa Myrna. Biggest Success: See career highlights. Dream Job: To fundraise for different causes worldwide, to start my own educational non-profit, and to one day be president of my native country – in that order. If you could compete in the Olympics in any sport, what would it be and why? Long-distance running; I enjoy running and have the endurance to succeed. Name: Michael P. Jordan Name: Michelle Dwyer Age: 34 Age: 29 Title:Vice President and Branch Administrator Title: Accountant and EFT Specialist Credit Union: Metro Credit Union Credit Union: Franklin First Federal Credit Union Credit Union Location: Chelsea, MA Credit Union Location: Greenfield, MA Town of Residence: Peabody, MA Town of Residence: Greenfield, MA Career Highlights: Helping lead Metro’s retail division. We have 15 branches (13 full service and two high school branches) and a busy call center. I am proud of the growth we have been able to achieve during my seven years with the credit union. I am also proud of these educational milestones: bachelor of science in finance from Bentley University; and master of science in leadership from Northeastern University. Community Involvement: President of the Rotary Club of Everett, Mass. (2011–2012 and 2012–2013). Largest accomplishment: leading fundraising efforts bringing in $10,000 over the past two years for Community Family in Everett, which provides adult day health and Alzheimer’s day health care services. I am also a long time participant in the North Shore Medical Center Cancer Walk, for which I have collected more than $5,000 in donations. Biggest Success: My family. I have a wife and four happy, healthy children: Amy, Damian, Jag, Meadow and Owen. Dream Job: CEO of a credit union in the state of South Carolina. If you could compete in the Olympics in any sport, what would it be and why? Golf. While I am not good, I do love the sport. Golf has not been an Olympic sport since 1904, but will return to the Summer Olympic Games in 2016. Golfing in Rio de Janeiro, Brazil in 2016 sounds good to me! Career Highlights: Being given many career advancement opportunities by Franklin First.The credit union has also afforded me the chance to attend Credit Union Management School with CUNA. Community Involvement: All of us at the credit union participate in and support important community causes, such as the Big Brothers/Big Sisters and the American Cancer Society, as well as the local food pantries and hospital volunteer programs. Biggest Success: I have yet to achieve it. Dream Job: Travel book writer. If you could compete in the Olympics in any sport, what would it be and why? Swimming, because I’m a really bad swimmer! Name: Cathy Saucier Name: Amanda Crean Age: 38 Age: 29 Title: Member Service Representative Title: Office Manager Credit Union: M/A-COM Federal Credit Union Credit Union: Massachusetts Postal Credit Union Credit Union Location: Lowell, MA Credit Union Location: Lynn, MA Town of Residence: Dracut, MA Town of Residence: Salem, MA Career Highlights: I have worked with the IRS over the last six months to become a certified tax preparer and site coordinator for their Volunteer Income Tax Assistance (VITA) program. Our credit union has successfully completed its first year as a VITA site and helped more than 100 local residents file their taxes and bring some much needed funds back to our community. Community Involvement: Over the past several years I have been involved with many community organizations and worthy causes, through both volunteer work and fundraising. I have been a troop leader for both the Cub Scouts and the Girl Scouts, and have participated in several MA Walks and MS Rides. Biggest Success: Successfully maintain a balance between work and family life. Dream Job: The travel industry, working with people who are excited and planning vacations. If you could compete in the Olympics in any sport, what would it be and why? Figure skating. Career Highlights: I started working part time at the credit union during college. During that period I became a single mother, yet obtained my associates degree. I continued my work and education by attending several credit union programs, accepting continued responsibility and today I am the office manager in charge of many different areas. Community Involvement: I am involved with several youth athletic programs along with my children and volunteer for many fundraising activities. Biggest Success: When the credit union undertook a data conversion with a new core processor, the office manager unexpectedly took an extended medical leave. A key employee in charge of all data records had left. I worked with the board and the CEO to coordinate all conversion tasks, which was successful with only a few errors. Dream Job: Running a credit union one day. If you could compete in the Olympics in any sport, what would it be and why? The women’s soccer team. Growing up, I was an avid soccer player, and it was always a dream of mine. spring.2012 | centerpoint | 23 Name: Todd Sibley Name: Paul Conners Age: 29 Age: 33 Title: Assistant Vice President of Collections Title: Branch Manager Credit Union: Leominster Credit Union Credit Union: Harvard University Credit Union Location: Leominster, MA Town of Residence: Leominster, MA Credit Union Location: Cambridge, MA Employees Credit Union Town of Residence: Westborough, MA Career Highlights: I have worked in the credit union industry for the past eight years, first at DCU, mostly in the collections department. Iâ€™ve been in my current position for about a year and a half. Community Involvement: I currently work with the North Central Massachusetts Chamber of Commerce in a leadership program, which gathers young leaders in our community together to enhance the community through knowledge and group involvement. Biggest Success: Bringing collections departments into the new systems and technology age. I designed the collections package still in use today at DCU. If you could compete in the Olympics in any sport, what would it be and why? Volleyball. I love playing it, and would think it would be a lot of fun to compete. Career Highlights: I have worked at the credit union for 14 years, during which I have advanced to the branch manager position, becoming an integral part of the community. Community Involvement: I actively support a number of community organizations and causes, including Relay for Life, Toys for Tots, United Way, YMCA, and a local food pantry. Biggest Success: As the credit union grew substantially, the need to improve efficiency was evident. I have made significant contributions to identify and implement systems and procedures, resulting in enhanced services for our members, and a more productive workforce. Dream Job: General manager of the Red Sox. If you could compete in the Olympics in any sport, what would it be and why? Iâ€™d go for the luge, for the pure speed factor. Congratulations to all of the 2012 Rising Star Award Winners! Bellwether Community Credit Union would like to congratulate our very own Nathan Saller on being named one of the 2012 Rising Stars. www.bccu.org Federally Insured by the NCUA. 24 | centerpoint | spring.2012 Fee-Free VITA Program continued from page 15 WE’RE FROM THE GOVERNMENT AND WE’RE HERE TO HELP YOU – FOR REAL The value of fee-free tax assistance isn’t just in the fees saved, or even in the amount of refunds returned to members. It’s about validation and the building of brand and trust. “It was an immediate connection at a very human level with clients,” says Richards. An important distinction, he notes, is that VITA volunteers represent the IRS, not their respective credit unions, so that confidential information was not shared with the credit unions. An additional trust-building aspect was the presence of bilingual and multilingual volunteers. Adade of LCU says working with the IRS was “an eye-opener.” As a private citizen, one has a theory about who the IRS is – but working for the IRS as a volunteer exposed her to the techniques and technology the IRS had to deploy to open a site, including the back room work, the appointment scheduling, how to correctly do the reporting. Plans are already in place for next year’s tax season, Adade says. “We’re ready to do this again because it’s a really good cause.” • Financial Products Technology solutions Superior Service TECHNOLOGY MEETS FINANCIAL SERVICES a Transamerica company www.CRISolutions.net Christina O’Neill is editor of custom publications at The Warren Group, publisher of CenterPoint. STOP THE BLEEDING IRS research indicates that 25 percent of eligible taxpayers – about 7 million households – fail to claim their Earned Income Tax Credit every year because they don’t know they qualify. The average Earned Income Tax Credit (EITC) for 2009 was $2,000. The EITC can effectively raise wages up to $2.50 per hour, but opportunistic financial products with costly fees target that gain. While big lenders will no longer offer Refund Anticipation Loans, thanks to an agreement between the nation’s largest banks and the FDIC, tax preparers and some banks either offer or are exploring the possibility of offering RALs from non-bank lenders, or Refund Anticipation Checks, with costly fees. Credit unions that offer loans or advances against a tax refund do so for a fraction of the cost of a commercial preparer, and the VITA program offers them a way to reach people who need this most basic form of tax relief. Source: Volunteer Income Tax Assistance (VITA) Sites, published by the National Credit Union Foundation, the IRS, and the National Consumer Law Center. spring.2012 | centerpoint | 25 C R E D I T U N I O N P EO P L E Greylock Federal Credit Union Appoints New Director Greylock Federal Credit Union, Pittsfield, MA, announced the appointment of Stanley B. Walczyk as the newest member of the credit union’s volStanley B. Walczyk unteer board of directors. Walczyk’s term began in November 2011. He replaces outgoing Director Linda Kabaniec (formerly Porter) who resigned from the Greylock board following her move to a new home outside of Berkshire County. Board Chairperson Sheila LaBarbera said, “We are happy to welcome Stan to the board. We are fortunate to have a community leader with such an extensive business background join our team. Our membership will benefit from his extensive experience and perspective.” Walczyk is the owner and president of O’Laughlin’s Home Care Pharmacy and Medical Equipment in Dalton. He is active in the Dalton Rotary, having served three terms as president. Walczyk serves as president of the Massachusetts Board of Pharmacy, and is a member of the Massachusetts Pharmacist Association, the National Association of Retail Druggists, and the 3rd Degree Knights of Columbus. Walczyk is a member of the Massachusetts College of Pharmacy Corporation, the Massachusetts College of Pharmacy Alumni Association Emeritus, and the Massachusetts Independent Pharmacists Association. He has served as a trustee for 10 years at Berkshire Community College and as past chairman of the St. Agnes Parish Council. Walczyk lives in Dalton with his wife Paula. They have two grown children, Kate and John. 26 | centerpoint | spring.2012 Jeanne D’Arc Credit Union Announces New Board Member Susan Green The board of directors of Jeanne D’Arc Credit Union recently elected Susan Green to the board of Jeanne D’Arc Credit Union, Lowell, MA. She started Jeanne D’Arc in April 2012. Green has been the treasurer and chief financial officer of Lowell General Hospital in Lowell since 2009, and had practiced as a certified public accountant at Mullen and Company and Deloitte & Touche, LLP. She earned her graduate degree in taxation from Bentley College and her undergraduate degree in accounting from Salem State College. Currently, Susan Green serves as treasurer of the Lowell Community Health Center, and is vice chair of the Finance Committee of the American Textile History Museum. Green resides in North Reading, MA. Leominster Credit Union Announces Two New Directors The Leominster Credit Union (LCU) board of directors voted to appoint Bruce J. Bollivar and Henry C. Kulik, Jr., CPA, as new directors on the LCU board. Bruce J. Bollivar “We are delighted to have the expertise that both Bruce and Henry bring to the board,” said Gordon R. Edmonds, LCU’s president and CEO. “As local businessmen, they can provide insight into the financial needs of businesses in our communities, as well as the banking needs of individuals. Both Bruce and Henry are well known in the area and have participated on a number of local committees and organizations.” Bruce J. Bollivar of Holden worked for McDonald’s Corporation for 34 years, most recently as owner and operator of four franchises in the Worcester area. Since his retire- ment from McDonald’s, he has worked as a wheelchair van driver with Kiessling Transit. Bollivar holds a bachelor’s degree in industrial management from Boston University and an MBA from Northeastern University. Bollivar formerly served on LCU’s Advisory Committee. Henry C. Kulik, Jr., a resident of Westminster, is owner and operator of Henry C. Kulik, Jr., CPA, LLC, in Leominster. He was previously a CPA at John BresnaHenry C. Kulik, Jr. han CPA, P.C. in Harvard. Kulik graduated magna cum laude from Fitchburg State College with a bachelor’s degree in accounting. He is a member of the American Society of Certified Public Accountants (AICPA), a fellow of the Massachusetts Society of Certified Public Accountants, Inc. (MSCPA), a member of the Montachusett Estate and Retirement Planning Council, and member of the North Central Massachusetts Chamber of Commerce. NH Federal Credit Union Appoints Jennah Partington to its Board of Directors Jennah Partington of Loudon was recently appointed as an interim director for NH Federal Credit Union (NHFCU). Partington will fill the vacancy that was left after longtime NHFCU director Peta Chandler retired from the board after 25 years. Partington graduated in 1996 from Eastern Nazarene College with a bachelor’s degree in business administration, minoring in sociology. She has worked at New England Employee Benefits Company (NEEBCo) since 2001 as the customer service supervisor, where she manages a team of 13. Her experience includes employee benefit analysis, strategic planning, and compliance regulation at federal and multi-state levels, as well as operational and administrative responsibilities associated with management of the customer service department. She is involved in com- munity activities that include volunteering on the Parent Advisory Committee and Alliance at Concord Christian Academy. Her other professional memberships include the Society for Human Resource Management (SHRM) and the Human Resources Association of Greater Concord. She has been a member of NHFCU since 2000 and currently serves on NHFCU’s Insurance Committee. Leominster Credit Union President Announces Retirement Leominster Credit Union, Leominster, MA, announced that Gordon R. Edmonds, president and CEO, has indicated to the board of directors his intentions Gordon R. Edmonds to retire effective September 30, 2012. Edmonds joined Leominster Credit Union in 2001 as senior vice president of lending. He was appointed president and CEO in June 2007. Chairman of the Board Amedeo (Butch) Bilotta credits Edmonds with leading Leominster Credit Union through a period of extraordinary growth. “Gordon Edmonds has been an exemplary president. Under his leadership the credit union has nearly doubled its asset size, and he was the leading force behind the construction of its new, state-of-the-art executive and operations building in downtown Leominster,” said Bilotta. “He is wellrespected throughout the credit union by directors and employees alike, and is highly regarded in the local communities where he has been involved with a number of civic organizations.” Edmonds has served on the board of directors of RCAP Solutions at Fitchburg State University, the North Central Mass Chamber of Commerce, and the Nashua Valley Council for the Boy Scouts of America. He has also served on the advisory board for the North Central Massachusetts Habitat for Humanity and as a member of the North Central Mass Chamber’s Leadership Council as well as the Health Alliance Hospital President’s Council. According to Edmonds, the decision to retire was a difficult one. “Serving for the past five years as president and CEO has been the most rewarding experience of my 37-year career. I am very proud of the accomplishments we have achieved during my tenure, and I am confident that I will be leaving an organization that is well-positioned to achieve much more in the future,” said Edmonds. “I now look forward to having more time to spend with my family both here and at our home in Florida.” Edmonds’ career in financial services includes senior positions at Hanscom Federal Credit Union, Bank of Western Massachusetts, and Bank of New Hampshire. He earned a bachelor’s degree in business administration from Southern Vermont College and is a graduate of the National School of Banking and the National School of Retail Banking. Edmonds served for 20 years in the United States Air Force. The credit union will begin a search for Edmonds’ replacement. Workers’ Credit Union Names New CFO J. Timothy Smith has been named chief financial officer and treasurer of Workers’ Credit Union. Smith is a CPA, with more than 20 years of experience in J. Timothy Smith the banking industry as a financial manager. His experience includes many years with KPMG and Darling Consulting Group, as an auditor and consultant to financial institutions. In addition, Smith was a financial manager at Berkeley Federal Bank in Florida and First City Bank in Texas. Smith earned a bachelor’s degree in accounting and an MBA in finance from the CT Bauer College of Business at the University of Houston. He lives in Franklin, where he serves on the town’s finance committee and is treasurer of the Boy Scouts of America’s Troop 99. Bruce Leighton Joins MembersFirst Credit Union of N.H. as CFO MembersFirst Credit Union of N.H., with offices in Manchester and Franklin, has announced that Bruce B. Leighton has joined the credit union as their new chief Bruce B. Leighton financial officer. With over 30 years of banking experience, Leighton comes to MembersFirst with an extensive financial background. He most recently worked at People’s United Bank (formerly Ocean Bank) in Portsmouth, NH. As the financial officer at People’s, Leighton was responsible for financial reporting and budgeting for the New Hampshire division. Previous to People’s, he spent seven years at St. Mary’s Bank Credit Union as the senior vice president and CFO and 10 years as controller. “We are delighted to have Bruce join our team here at MembersFirst Credit Union of N.H.,” said Bernie McLaughlin, president and CEO. “His extensive finance experience in both the credit union and banking industries will help us to continue to strengthen our organization for our members and our local community.” Charlene Bauer Named ‘Unsung Hero of 2011’ Metro Credit Union Senior Vice President receives Chelsea Collaborative award The Chelsea Collaborative recognized Metro Credit Union Senior Vice President of Business Development and Community Relations Charlene Bauer as one of Charlene Bauer their “Unsung Heroes of 2011” at their annual holiday gala. At the December 14 event, the collaborative acknowledged Bauer’s significant contributions to the Chelsea community. In continued on page 28 spring.2012 | centerpoint | 27 C R E D I T U N I O N P EO P L E continued from page 27 the program for the evening, it was stated: “Charlene is a true friend of the Chelsea Collaborative and the community of Chelsea. This summer, Charlene brought the Summer Youth Employment Initiative to another level of sophistication and professionalism…” Charlene Bauer has been with Metro for over 10 years and lives in Danvers with her husband and son. In addition to her involvement with the Chelsea Collaborative, Charlene is the treasurer of Chelsea Neighborhood Developers, past president of the Chelsea Rotary Club, and is on the Board of the Salem Partnership. Digital Federal Credit Union Announces Management Promotions Stephen K. Mackowitz David J. Araujo David P. DeWitt Julie A. Moran Craig P. Roy James F. Regan, president and CEO of Digital Federal Credit Union (DCU), has announced the promotion of several key individuals within the organization: Stephen K. Mackowitz of Warwick, RI, has been promoted to senior vice president of commercial lending; Craig P. Roy of Auburn has been promoted to senior vice president of retail lending; David J. Araujo of Hopedale has been promoted to vice president of information systems; David P. DeWitt of Chelmsford has been promoted to vice president of risk 28 | centerpoint | spring.2012 management; and Julie A. Moran of Clinton has been promoted to vice president of support services. Granite State Credit Union Names Naro Senior Vice President Granite State Credit Union (GSCU), Manchester, NH, recently promoted Timothy M. Naro to senior vice president of lending and branches. Naro, Timothy M. Naro whose career with GSCU has spanned 19 years, was previously vice president of lending. “This move unites the branches, call center, and lending department under one division, thus strengthening the overall branch and lending experience for our members,” notes Denise L. Caristi, president and CEO of Granite State Credit Union. “Tim’s active role on our senior management team, as well as that of service within the NH Credit Union League, keep him abreast of current trends in service as well as the unique lending needs of our members.” Naro is currently a board member and treasurer for the Make-A-Wish Foundation® of NH, and is a board member of the NH Credit Union League where he previously served as chairman of the board of directors. He is also an active volunteer in his local community of Plymouth, NH. Fourteen years of his career with GSCU were in consumer, mortgage, and commercial lending. Naro started his career in public accounting, joining Smith, Batchelder, and Rugg after graduating from Plymouth State College (now Plymouth State University). After leaving public accounting, he spent seven years in the healthcare field, first working as a Medicare auditor and then serving as chief financial officer of two community hospitals. Prior to joining Granite State Credit Union, he spent four years in the utility industry as manager of finance and administration. Naro also served on GSCU’s vol- unteer board of directors for two years prior to joining the credit union as a full time employee. Naro also holds an MBA from Southern New Hampshire University and advanced credits from Boston College. He is a graduate of the Management Internship Program at the University of Nebraska. Beverly Purtell Promoted to Senior Vice President of HR Management of Leagues/Association The Massachusetts and New Hampshire Credit Union Leagues and the Credit Union Association of Rhode Island announced the promotion of Beverly Beverly Purtell Purtell to senior vice president of human resource management. She brings an extensive, in-depth management background to the Leagues/Association with over 30 years of HR expertise. In her role at the Leagues/Association, she is responsible for both strategic and tactical HR internally, while she runs the HR Network, and provides HR consulting to member credit unions externally. She joined the Leagues/Association in June of 2006 after working as a principal consultant with HRValue Group LLC, which provided HR consulting to the credit union industry. She makes presentations at various credit union conferences and chapter meetings, as well as serves as staff liaison to the Leagues’/ Association’s HR Network, a professional group for HR professionals to network within the industry. Before her work in the credit union industry, she was the vice president of HR for an international telecommunications company, and the principal of an HR consulting firm. She graduated magna cum laude from UMass-Lowell from which she earned a B.S.B.A. SEND US YOUR ANNOUNCEMENT! Contact Peggie Thorsen via e-mail at email@example.com. STCU Credit Union Announces Beylard Promoted to Vice President of Operations STCU Credit Union has announced the promotion of Jennifer Beylard to vice president of operations. STCU President Michael S. Ostrowski said, Jennifer Beylard “Jen demonstrates impressive leadership capabilities and is a driving factor in STCU’s success. She has an extensive understanding of the daily operation of our credit union; increasing her role is a great fit for us.” Beylard came to STCU in 2006 with more than eight years of experience in the financial industry. In her expanded role, she will oversee both the Springfield and Westfield branch locations, as well as marketing and information technology systems. Beylard will be responsible for compliance and quality control, and will serve as STCU’s Bank Secrecy Act officer. Ostrowski said, “Risk management is a core area of focus for any financial institution. We are strengthening back office teams to match the level of member service excellence we are known for on our front lines.” Beylard is a member of the Professional Women’s Chamber of Greater Springfield. She earned a bachelor’s degree from the University of North Florida in Jacksonville in 2002. She resides in Hampden with her husband, David. McGeorge Named Vice President of Finance at Service Credit Union Service Credit Union President and CEO Gordon Simmons announced the appointment of Andrew McGeorge as vice president of finance at the credit Andrew McGeorge union. McGeorge will be responsible for invest- ments, financial reporting, asset and liability management, and overseeing accounting and share draft departments. He will report directly to CFO Scott Wensley. McGeorge comes to Service Credit Union from CNBS, LLC of Overland Park, Kansas, where he was a senior portfolio strategist. His duties included serving as Service Credit Union’s advisor for matters relating to investment portfolio management and ALM. Prior to his employment at CNBS, McGeorge was an associate director at Barclays Capital. A native of Kansas, McGeorge is a graduate of the Massachusetts Institute of Technology where he earned a bachelor’s degree in materials science and engineering. He also holds a master’s degree from Northwestern University in materials science and engineering and an MBA from the University of Texas at Austin. He is a chartered financial analyst. “McGeorge will be a solid addition to our senior management team,” says Simmons. “He brings an exceptional finance background to an already strong team at Service Credit Union.” Pawtucket Credit Union Promotes Kim Denny Karl A. Kozak, president and CEO of Pawtucket Credit Union (PCU), Pawtucket, RI, has announced the promotion of Kim Denny to vice president of employee development and training. Her overall responsibilities include overseeing all aspects of employee training, including knowledge of and adherence to federal regulatory requirements, as well as procedural development. She also leads PCU’s employee recognition and member services programs. Denny has been with the credit union for over 10 years and previously served as assistant vice president of employee development and training. She is involved in the Women’s Mentoring Program at Rhode Island Correctional Facilities and is a Special Olympics volunteer. Whatley Named League Vice President of Compliance Services Leag ue/Association SVP and NECUS COO Bonnie Doolin announced that Charlotte Whatley has been promoted to the position of vice president of Charlotte Whatley compliance services. In that position, Whatley will direct and support the compliance specialists in the field, provide direction on compliance to League/Association staff, and continue to ensure the timely delivery of compliance resources to member credit unions. With all the new and continuing regulations required of credit unions, the compliance department and all its components will continue to grow for the foreseeable future as the Leagues and Associtation find new, innovative, and efficient ways to support the expanding compliance needs of member credit unions. Whatley began her credit union career in a lending and operations role at a local credit union and then joined the Massachusetts and New Hampshire Credit Union Leagues and the Credit Union Association of Rhode Island in November 1990 as credit card operations supervisor. She moved into the role of project coordinator and continued to develop her knowledge and expertise in credit union compliance as director of research and compliance information. Through her training with CUNA, Charlotte has attained credit union compliance expert and Bank Secrecy Act Compliance Specialist designations. In January of this year, Whatley completed her master’s degree in business ethics and compliance from the New England College of Finance. • spring.2012 | centerpoint | 29 C R E D I T U N I O N C A L E N DA R Special Events Special Olympics Rhode Island Summer Games June 1...................................University of Rhode Island, Kingstown, RI New Hampshire Credit Union League Richard D. Mahoney Charity Golf Tournament June 14..................................... Candia Woods Golf Links, Candia, NH Credit Union Community Hope Initiative Charity Golf Tournament to Benefit MA Coalition for the Homeless August 15........................Juniper Hills Golf Course, Northborough, MA Credit Unions of Rhode Island Charity Golf Tournament July 16.................................... Crestwood Country Club, Rehoboth, MA CONFERENCES AND CONVENTIONS New Hampshire Credit Union League’s 58th Annual Meeting and Convention June 15–17...............Omni Mt. Washington Resort, Bretton Woods, NH 2012 Massachusetts Credit Union League Annual Meeting and Convention June 17–20.......................................... San Diego Convention Center 2012 Practical Solutions – Small Credit Union Conference October 16–17......Grand Pequot Tower at Foxwoods, Mashantucket, CT 2012 Fall Leadership Conference October 26–28....................................... Newport Marriott, Newport, RI Networks INTERNAL AUDITOR NETWORK MEETING Dormant Accounts & Unclaimed Property: The Legal Perspective June 6 Call Reports: What to Look For, Entering Information & Why It’s Important June 12 Lending Series: Denied Loan Requirements: Consumer, Commercial & Residential June 13 A Penny Saved is More than a Penny Earned: Leveraging Technology to Improve Efficiency, Profitability and Member Service June 20 Director Series: Fundamental Board Duties & Responsibilities, Regulatory Requirements & Liability June 21 Accounting & Audit Reports to the Board June 28 Wire Transfer Compliance July 10 Understanding & Navigating the ACH Rules for the ODFI July 11 Collection Managers: Managing Expectations & Getting Results July 17 Director Series: Understanding Call Reports for Board Members July 19 Rule Review & Understanding Loan Documents for the New Mortgage Lender July 24 Required Compliance Series: Regulatory Compliance for Deposit/Operations July 25 SAFE Act: Tracking, Renewing & Compliance September 19 Navigating the New International Reg E Requirements September 20 Notary Essentials & Legalities for Credit Unions September 25 Reinvigorating the Bottom Line: Making Up for Lost Revenue September 26 QuickBites ONE-HOUR TELEPHONE CONFERENCING Reg E / EFTs May 31 Reg Z Update June 20 We Love Loans June 26 Negotiating Skills to Capture Higher Rates & Fees (Two-Hour Telecourse) June 28 Direct Lending – Seven Must Haves July 10 New SEGs, New Members, New Growth (Two-Hour Telecourse) July 12 Due Diligence – Interacting with Your members July 18 Digital Wallet: The Future of Mobile Payments and What it Means to Credit Union Members July 31 ALM: 11 Key Ratios You should Know (Two-Hour Telecourse) August 2 June 5.......................................................... CU Center, Marlboro, MA Credit Reports & Scores: Using them Legally & Effectively July 26 Check Fraud August 8 COMPLIANCE NETWORK MEETING Security Officer Reports to the Board August 2 Conducting & Evaluating Consumer Reports for Employment Purposes August 21 June 6.......................................................... CU Center, Marlboro, MA September 26................................................................ Location TBD MARKETERS’ NETWORK MEETING Writing Effective HR & E-Policies to Manage Behavior, Maximize Compliance & Mitigate Risks August 7 Marketing with a Click and A Smile August 28 June 7.......................................................... CU Center, Marlboro, MA Supervisory Committee Audits: Best Practices August 8 Increase Loans – CU Loan Officer Sales Training September 5 LENDING WORKSHOP WITH BRETT CHRISTENSEN Garnishments, Subpoenas, Summonses, Levies: Getting it Right! August 21 CU Thrival Strategies for a Slow Economy September 11 September 11–12.............................................................Milford, MA HR NETWORK MEETING October 2...................................................... CU Center, Marlboro, MA Improve Your Bottom Line: Tips for Auditing Income & Expenses August 23 Seminars and Schools Director Series: Financial Literacy Fundamentals for New Directors: Financial Statements, Key Ratios and How to Monitor Your Credit August 29 Credit Union Employees Boot Camp July 18..................... America’s Credit Union Museum, Manchester, MA September 26............................................... CU Center, Marlboro, MA The Legal Side of Dealing with Power-of Attorney & Living Trust Documents September 5 BSA Update September 18..............................................Angelica’s, Middleton, MA Preparing for Your FFIEC Authentication Guidance Regulatory Exam September 11 Webinar and Webcast Sessions Holding Your Ground with Examiners & Regulators: The Credit Union Bill of Rights May 30 Implementing the Final NCUA Rule on Interest-Rate Risk: Effective September 30, 2012 June 5 30 | centerpoint | spring.2012 Required Compliance Series: Regulatory Compliance for All Staff, Including Red Flags for Identity Theft, Bribery and Consumer Privacy September 12 Director Series: Advanced Financial Literacy Update for New & Experienced Directors: ALM Primer & New Financial, Accounting & Risk Issues September 18 Starting a Youth Program on a Shoestring Budget September 18 Building a Successful Regulatory Compliance Program September 20 Chapter Meetings and Activities – MA 20th Annual Pioneer Valley Scholarship Golf Tournament July 11......................................Oak Ridge Golf Club, Feeding Hills, MA Holidays May 28 – Memorial Day July 4 – Independence Day September 3 – Labor Day October 8 – Columbus Day East Cambridge Savings Bank Belmont, MA Methuen Federal Credit Union Methuen, MA NES Group is a leader in providing all aspects of credit union design and project management for your new or existing facilities. The services we provide range from site selection, space planning, branding, retail merchandising and construction through bank products and furnishings. Crescent Credit Union Brockton, MA PLANNING • DESIGN • CONSTRUCTION • CONSULTING NES Group 905 South Main St., Bldg. B, Suite 201, Mansfield, MA 02048 Phone: 508-339-6600 fax: 508-339-6602 Web: www.nes-group.com