GREENVILLE, S.C.–Three credit unions have been selected as finalists for a “strategic credit union makeover” as part of a promotion by CU Impossible.
As CUToday.info reported here, credit unions of less than $100 million in assets were encouraged to submit applications for CU Impossible, a project that encourages smaller credit unions to seek alternatives to mergers.
The CU Impossible project was founded by industry partners Your Marketing Co., uncommn Marketing Partners, Your Credit Union Partner, Brian Rollo Consulting Group and Crosstream Media. The five companies said they are collaborating on the project to provide strategic leadership and marketing support to credit unions with less than $100 million in assets.
Selected as finalists for this year’s makeover were:
- The $7.9-million Greater Cleveland Community Credit Union, Cleveland
- The $43-million Missouri Valley FCU in Saint Peters, Mo.
- The $51-million Millstream Area Credit Union in Findlay, Ohio
The Finalists’ Stories
“Each of the finalist credit unions are deserving,” organizers of CU Impossible said. “Greater Cleveland, for example, serves the roughly one-million residents of Cuyahoga County where the City of Cleveland is located. Cleveland is a majority-minority community with roughly 50% of the population being African American and facing a 33% poverty rate. Over the last 10 years, Cleveland has lost 50% of the credit unions that were chartered in the city.
“Missouri Valley has experienced some growth under new leadership after several changes at the helm but needs help to expand its reach beyond the relatively affluent St. Charles County into surrounding, more rural counties,” CU Impossible continued. “‘We care about people,’” the application read. “We want to make an impact on people's lives. We want to make a difference. And we are willing to do whatever it takes.”
“Millstream Area is facing some of the same challenges as Missouri Valley: loan and membership growth. Employees also have been experiencing a bit of cultural shift with a new CEO after 30 years that’s been affecting the credit union’s overall performance in addition to the coronavirus pandemic. The credit union is ready to stabilize and move forward.”
The Prize Package
The 2021 winner of the CU Impossible contest receives ongoing consulting and KPIs throughout 2021, including:
- Strategic Planning with Your Credit Union Partner
- Strategic Marketing Plan + Execution with Your Marketing Co.
- Website by uncommn Marketing Partners
- Executive Leadership Coaching with Brian Rollo Consulting Group
- Year of Service and Equipment for 1 Branch with Crosstream
- Year of online auto buying service from Auto Link
The 2021 winner will be announced on Nov. 13. For info: www.cuimpossible.com