This year, Callahan began our impact initiative, in which we seek to build a network of credit unions with the goal of empowering member-owned financial cooperatives to better articulate their value through a mission-focused lens with the help of new metrics and best practices.
As we continue to aggregate data and evolve the credit union impact story, we wanted to share three key metrics from our findings. This data is nowhere near complete, but from the credit unions that have shared their data so far here’s what we found:
- 45% of non-entry level open positions at reporting credit unions were filled by existing employees in 2020.
- 55% offer tuition reimbursement, and they reimbursed an average of $27,340.
- 14% of reporting credit unions offer student loan reimbursement, and they reimbursed an average of $8,864.
These data points help showcase the impact that credit unions have on their employees, members, and communities. By joining the impact network, your credit union can be a part of this mission and help us further refine these data points to share with the industry.
One such credit union that is making a significant impact in their community is Capital Credit Union ($2B, WI). Capital Credit Union’s commitment to their members is evident in their impressive impact report. Their 16-page report highlights causes such as their fighting homelessness campaign as well as their visits to local middle and high schools to teach financial literacy. Their impact report serves as an inspiration for credit unions to prioritize their members and community above all else.
Get Involved
The impact network is free to join and, as a part of our network, we will provide you with access to the latest peer impact findings and insights as well as invites to impact-related events such as the Impact Network Meet-up. Additionally, impact network members will receive a monthly newsletter that features impact-related content and downloadable copies of impact reports that other credit unions have provided.
This month was a fantastic month when it came to generating value for credit union members and employees. We look forward to welcoming new credit unions into the network as together we evolve the credit union story.
More Blogs
Expertise Matters. Be The Partner Clients Trust.
For credit union suppliers to be considered indispensable, it’s more important than ever to know their clients' and prospects' businesses inside and out. Credit unions are looking for more than just basic products and services from their suppliers – they need...
Understanding Credit Union Financial Reports
The ability to understand a credit union’s financial performance is one of the most vital skills for industry suppliers and service organizations. Armed with this knowledge and having a basic understanding of a credit union’s financial reports can help sales and...
Navigating The NCUA’s 2024 Supervisory Priorities
In today's changing financial landscape, credit unions face a host of challenges when it comes to maintaining stability and ensuring member protection. Recently, the National Credit Union Administration (NCUA) outlined its supervisory priorities for 2024, highlighting...
Callahan & Associates and CU Strategic Planning Combine To Increase Credit Union Impact
Callahan & Associates and CU Strategic Planning proudly announce their strategic alliance, driven by a shared vision to empower credit unions to make a meaningful impact on their members and communities.
Insights And Advice For Credit Union Leaders
Are you new to a leadership role or preparing for one? Are you focused on empowering future leaders? Are you a veteran leader looking to be inspired? We recently asked new and established leaders what it means to embrace different leadership styles, encourage culture changes, and what advice they have for the next generation of leaders.
5 Governance Tips for Credit Union Boards
Insights From Callahan Consultant, Chris Howard There’s a growing — albeit misguided — distrust of credit unions today, making effective governance more important than ever … and harder than ever. At its core, good governance is fairly simple, although never...
15 Key Ratios Every Credit Union Board Should Know
There are thousands of data points you can share with your board about your credit union’s performance, the industry, and the economy. The challenge is identifying which key ratios are most important to your credit union. If you’re looking for a list of key ratios and...
Hassle-Free Benchmarking For Credit Unions
At Callahan & Associates, we understand that smaller credit unions often face challenges in benchmarking their performance against their peers due to limited resources, budgets, and time constraints. That’s why we created a simple, streamlined level in our...
Why Great Lakes CU Is Betting Big On Partnerships
Last week, Callahan & Associates hosted the inaugural installment in its "A Conversation With..." webinar series, featuring Great Lakes Credit Union CEO Steve Bugg. In the exclusive conversation, Bugg emphasized the value partnerships can bring to the industry and...
Browse 5300 Call Reports With Ease.
Every CU 5300 Call Report – Instantly And Seamlessly. If your goal is to reach more credit unions with your products and services, you likely know all too well how long it takes to pull 5300 Call Reports for dozens of prospects to fuel your sales pipeline and...