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The Louise Herring Award for Philosophy in Action
Purpose
To promote credit union philosophy by formally recognizing credit unions that demonstrate in an extraordinary way the practical application of that philosophy. 
Categories
- Less than $50 million in assets
- $50 - $250 million in assets
- More than $250 million in assets
Eligible Activities
The Louise Herring Award recognizes credit union programs or policies that demonstrate their commitment to the practical application of the "People Helping People" philosophy. It is awarded for extraordinary internal programs that are focused on membership and benefit members. This award is not for community service work that is directed outside the credit union’s membership.
Some examples of eligible activities include:
- Provisions for the small saver or borrower
- Member programs for youth, seniors, or other groups that are often economically challenged
- Internal programs or services that help to differentiate the credit union from other financial service providers
- Programs that do an extraordinary job of encouraging thrift and provide a source of unbiased money management and consumer information, which would be difficult or impossible to obtain elsewhere
- Evidence of an exceptional degree of service to members.
- Services for members with unique financial needs, such as savings clubs for children or discounts for senior citizens, or other extraordinary efforts to serve the membership.
- Counseling for members facing financial difficulties.
- Educational seminars for members on retirement planning, car buying, budgeting or college financing.
- Efforts to educate members on the credit union difference.
Procedure
Submit a project binder or spiral bound notebook, along with the completed entry form and checklist. Support materials should be included in the binder or notebook, including two years’ (current and previous year) income statements and balance sheets and/or NCUA Financial Performance Reports. The award competition is closed for 2007 and will re-open in summer 2008.
For more information, contact Larry Deutsch at ldeutsch@mcua.org, (314) 542-1360, or (800) 392-3074, ext. 1360.
