Let’s face it: It’s been a rough 2016. We lost David Bowie and Prince. Mass shootings in Orlando, San Bernardino, Calif., and elsewhere led to feelings of sorrow and fear. And now, many Americans are feeling heartbroken and horrified by the outcome of the presidential election. To quote a tweet that was featured in a July Buzzfeed article, “Have we tried unplugging 2016, waiting 10 seconds and plugging it back in again?”
Credit unions have historically made it their mission to not only provide high-quality, low-cost financial products and services, but take part in charitable initiatives that help folks in their communities live better lives. These activities – which range from straight monetary donations to time-intensive volunteer projects – tend to pick up during the holiday season. It helps differentiate credit unions from banks and reminds members, “Hey, we’re not here for our own benefit – we’re here for you.” And in a year that has brought its fair share of troubling news, it’s more important than ever to spread this kind of love.
CU Times has begun receiving an influx of holiday giving announcements from credit unions with headlines such as “ABC Credit Union Donates $5,000 to XYZ Charity” and “Local Credit Union Gives 20,000 Pounds of Food to Food Bank.” While every act of giving should be applauded, some could use a little more thought or creativity. The cookie-cutter headlines got me thinking, How can credit unions step up their charity game this year? How can they go beyond their usual check-writing routine and do something that people will really remember them for, and will perhaps circle back to the credit union in the form of new business?
I posed these questions to National Credit Union Foundation Executive Director Gigi Hyland, who emphasized the importance of coming up with a strategic plan for giving. All credit unions are focused on improving members’ financial lives, so when they think about philanthropic efforts, they can start by considering how those efforts connect to improving members’ financial lives and what charities advance that mission, she said.
“It sounds so easy, but truly, what are your members struggling with? Hunger? Employment? Education? Look at your members and your mission, then come up with three to four focused areas of giving for the year,” Hyland said.
Maybe that means launching a financial education program to help reduce overdrafts and late loan payments within your membership. Or, if your community was hit by a natural disaster, a rebuilding effort could be in order. The key is identifying a gap in a community you serve and addressing it.
One credit union that appears to be hitting a home run in the game of charitable giving is the $3.5 billion, Endicott, N.Y.-based Visions Federal Credit Union. Last December, CU Times posted a video – one of the most-viewed on our site – of Visions FCU President/CEO Tyrone Muse posing as a local Giant Food Store bagger and surprising patrons by covering their grocery bill; this led to a print feature of the stunt in January.
I checked in with the people at Visions FCU to find out what they had up their sleeves this year, and it turns out the credit union has already been giving back to its community through random acts of kindness all year in honor of its 50th anniversary. The campaign, #ThanksVisions, has included a baseball game ticket giveaway, free goodies at locally-owned cupcake and coffee shops, and a Ticketmaster gift card hand-out at a local amphitheater. Visions staffers also handed out car wash tickets to members who pulled up to their drive-thru window in dirty vehicles, and greeted members at their cars in branch parking lots with umbrellas (which the members got to keep) on rainy days.
This holiday season, the credit union hopes to give back by covering residents’ gift purchases in local stores, and Muse may be morphing into a teacher’s assistant for a day at a local high school where Visions recently opened a branch, according to Mandy DeHate, Visions’ AVP of marketing.
“When we talked about what to do for our anniversary, it came down to members and the communities we’re in, because without them we have nothing,” DeHate said. “We saw how well the grocery store giveaway worked and wanted to give back to people. And we helped everyone – it didn’t matter if they had no clue who Visions was.”
Other than allowing staffers to wear Visions T-shirts at giveaway events, the #ThanksVisions campaign has not promoted the credit union’s brand, products or services in any way. However, it has built business organically. DeHate said at several events, some participants were so impressed by Visions’ giving spirit that they decided to become members, and the campaign even raised awareness about the credit union movement as a whole.
“[The campaign] promotes the overall message that credit unions help people,” DeHate noted. “Maybe they won’t remember it was Visions, but they’ll remember it was a credit union and that they got a free car wash or ice cream. Then when they need a financial product or service, they’ll think of that.”
Need more inspiration as you plan your 2016 holiday giving activities? Here’s a specific suggestion from DeHate: If your community has a locally-owned movie theater, give residents a treat by covering the cost of movie tickets and snacks during a screening.
“It’s about getting to know your local nonprofits,” DeHate added. “Don’t just give them a check and walk away – ask them what they need. As you get to know them, you’ll find out what the needs are in their community. Let your fears fall to the wayside, because in the end you’re helping people.”
Giving back not only helps your credit union, members and community, it’s also a great way to elevate your mood when you’re feeling down. So make it your mission this year. And while you’re at it, don’t be shy about showing holiday spirit, if that’s your thing. Go all out with your cubicle or office decorations (with permission from your facilities department, of course). Blast Mariah Carey’s “All I Want for Christmas Is You” on repeat during your commute. Throw an office party and make everyone wear an ugly sweater and light-up antlers. We won’t judge. A little corniness may be just what you need to close out a rough year.
Natasha Chilingerian is managing editor for CU Times. She can be reached at nchilingerian@cutimes.com.
