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Small Credit Union Resources
Small credit unions clearly reflect the philosophy of credit unions - the desire to come together as a group of people to help others in need. Their contribution to the overall credit union community, and consumers, is enormous.
More than half of Missouri's credit unions are considered "small." An estimated 52% have less than $10 million in assets and approximately 34% have less than $5 million.
The Missouri Credit Union Association is committed to helping small credit unions succeed. We offer a variety of programs to help small credit unions with strategic planning, accounting, succession planning, launching share draft checking, credit and/or debit card programs, etc.
Unless otherwise noted, credit unions should contact their MCUA Field Representative for more details on any of the resources listed below.
CU360
MCUA is providing a one year free subscription to CU360, CUNA's online editorial, research and data portal, to Missouri credit unions with assets $35 million or less. Click here to visit the site. For subscription information, contact 800-633-1722 or jhadley@mcua.org.
Partners in Progress
Partners in Progress matches credit union professionals from larger credit unions with small credit unions in need of specific expertise. Assistance ranges from marketing support and accounting help to executive searches. Professionals volunteer their time and skills for a short-term period.
Project SECURE
An extension of Partners in Progress, Project SECURE also matches credit union professionals with small credit unions in need of assistance. This match is for a long-term need, and the credit union professional is paid for their service by the Missouri Credit Union Charitable Foundation. The receiving small credit union assumes a moral obligation to repay the Foundation.
Strategic/Operational Planning
MCUA Field Representatives are available to assist small credit unions with annual strategic/operational planning sessions. Small credit unions or those operating under a hardship are offered a discounted fee for this service.
Asset-Liability Management (ALM) Service
Asset-liability management is a technique designed to earn an adequate return while maintaining a comfortable surplus of assets beyond liabilities. All credit unions should be practicing ALM. Through the Texas Credit Union League, MCUA is able to offer an ALM service that helps credit unions apply this technique. Contact your MCUA field representative for pricing information on this subscription service.
Equipment Clearinghouse
Credit unions can trade or donate equipment to each other through MCUA's equipment clearinghouse.
Accounting Services
MCUA's Accounting Department aids credit unions in account reconciliation, corporate statement balancing, financial statements, business ratio calculations and NCUA 5300 Call Report assistance. For details, contact MCUA Accounting at (800) 392-3074.
Apollo Debit and Credit Cards / EZ Launch
MCUA's League Card Systems offers these two programs, which help small credit unions get started with a credit and/or debit card program. Both programs handle all of the back-office work involved and allow credit unions to receive a portion of the income. Contact Barb Stanek at 800-392-3074 ext.1366 or BStanek@mcua.org for details.
Missouri Credit Union Charitable Foundation Grants & Scholarships
MCUCF funds several grants and scholarships for credit union personnel to attend high quality, specialized educational conferences and seminars. For more on these various awards and scholarships, click here.
Political Event Scholarships
Small credit unions are needed to spread the credit union difference message to lawmakers. They have a unique perspective that must be heard. Larger credit unions may offer to sponsor a smaller credit union for an MCUA political event such as Missouri Credit Union Lobby Days in Jefferson City or Hike the Hill in Washington, D.C. To find out if there are scholarship opportunities available for an upcoming event, contact MCUA Public/Legislative Affairs at (800) 392-3074.
