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New Hampshire Credit Union League holds 58th Annual Business Meeting

2012-07-02T19:30:24Z

Delegates from across New Hampshire gathered on Saturday, June 16 for the New Hampshire Credit Union League’s 58th Annual Business Meeting and heard reports from numerous League committees as well as League Chairman Michael L’Ecuyer and League President Daniel F. Egan, Jr. They also heard from special guest speakers including Bank Commissioner Ronald Wilbur; National Credit Union Administration Associate Regional Director of Programs Marcia Sarrazin; CUNA Mutual Group Sales Executive Geoff Martin; as well as America’s Credit Union Museum Executive Director Peggy Powell.

The attendees were moved by a special video presentation featuring the 1,000th Wish given by Make-A-Wish Foundation® of New Hampshire. The organization’s CEO Julie Baron followed by introducing Wish child David and his family. David’s mom Kristin shared the story of David’s wish with the attendees and then offered her heartfelt thanks to the credit unions for their generous support and for putting the glow back on David’s face.

During the meeting, the nominating committee announced the results of the election held for positions on the League’s Board of Directors. Maurice D. Simard, Jr., president/treasurer, Triangle Credit Union was re-elected to the board for three-year terms. Ronald H. Covey, Jr., president/CEO, St. Mary’s Bank Credit Union was elected to the board for a three-year term. Prior to the conclusion of the meeting, Chairman L’Ecuyer recognized Gordon Simmons who chose not to seek re-election and retired from the League Board of Directors. Gordon was presented with a special gift in honor of his many years of service to the New Hampshire Credit Union League.

Two credit unions celebrating anniversaries this year were recognized during the meeting with plaques: Holy Rosary Credit Union – 50 years and Service Credit Union – 55 years.

Following the League’s annual meeting, the Board of Directors met and voted to elect the following table officers: Chairman – Gerald Dumoulin, CEO, Guardian Angel Credit Union; Vice Chairman – Timothy Naro, vice president of Lending, Granite State Credit Union; and Secretary/Treasurer – Brian Hughes, president/CEO, Holy Rosary Credit Union. Rounding out the remainder of the board is: newly elected Ronald H. Covey, Jr., president/CEO, St. Mary’s Bank Credit Union; Michael A. L’Ecuyer, president/CEO, Bellwether Community Credit Union; Maurice Simard, Jr., president/treasurer, Triangle Credit Union; and John Young, president/CEO, New Hampshire Federal Credit Union.

COLLEGE STUDENTS FACE INCREASED STUDENT LOAN AND CREDIT CARD DEBT

2013-05-01T12:53:01Z

STUDENTS IN NH GRADUATE WITH HIGHEST DEBT IN U.S. – CREDIT UNIONS OFFERING SOLUTIONS

The good news is that America’s high school graduation rate has hit an all time high, according to findings of the U.S. Department of Education. The bad news: the nation’s higher education dropout rate has also hit an all time high, according to a recent study from The American Dream 2.0 coalition. More students pack their bags for home over financial/credit debt than academic performance. Those lucky enough to graduate are confronted with student loan debt, which averages $27,000.00, throughout the U.S. College students in New Hampshire owed the most, with average debt of $32,440.00. Many of these problems could have been alleviated with adequate financial literacy education prior to graduating from high school. The New Hampshire Credit Union League (NHCUL) in partnership with America’s Credit Union Museum (ACUM) has led the charge in educating New Hampshire school children on basic financial literacy through the CU 4 Reality™ Financial Education Program – in part with Financial Literacy Month events.

“What we know is that college students are ‘signing on the credit card and student loan dotted line,’ not realizing the full financial responsibility of these financial contracts,” according to Daniel F. Egan, Jr., president of the NHCUL. “Student debt in this nation is reaching an epic level of more than $1 trillion dollars - $1,000,000,000,000.00 - and the financial stress is taking a toll on students via an increase in dropout rates,” added Egan. Financially stressed students are six times more likely to drop out, which decreases their income earning potential, coupled with student loan obligations, which are unforgivable. According to a recent study by the Credit Union National Association (CUNA) of high school students: “83% did not know the rates and 77% didn’t know the duration of their expected or existing college loans….the results suggest that some students could be challenged in managing basic expenses or using such payment tools as credit cards in a consistently responsible manner as they enter adulthood.”

“The goal of the CU 4 Reality Financial Education Program is to teach students the basics of spending, budgeting, credit and savings, with the use of a classroom guide, that can be tailored to educate elementary, middle, and high school aged students. The goal is to establish good financial habits at a young age – habits which will last and benefit them for a life time,” said Egan. The curriculums’ culmination is the CU 4 Reality Financial Education Fair. The CU 4 Reality Financial Education Fair itself is a group event in which the students choose a fictitious ‘financial life’ (a job and an income) and they must determine how they are going to budget for needs and wants. They need to allocate funds for rent, utilities, insurance, credit card and student loans – then decide what they can afford to spend on discretionary expenses. “Tough choices have to be made,” stressed Egan. In April alone approximately 1,700 students from the following communities – Londonderry, Portsmouth, Nashua, Derry, Concord, Berlin, Gorham, and Manchester participated in CU 4 Reality Financial Education Fairs. For 2013, the NHCUL predicts that more than 4,500 students will be reached via 35 participating schools.

“Credit is being extended to this segment at a younger and younger age. It is the goal of New Hampshire’s credit unions to educate school age residents of financial options and help them avoid certain financial pitfalls,” stated Egan. “Credit unions serve and advocate for their membership – these are member-owned businesses. For student loans, credit unions provide better interest terms, and student loan default rates for credit unions are 1.6% - well below the student federal loan default rate of more than 12%. April was Financial Literacy Month for credit unions, and New Hampshire’s credit unions are proud of the service and community outreach they provide 24/7/365,” concluded Egan.

MAKE-A-WISH® OF NH WISH AMBASSADORS DELIVERED “SWEET THANK YOU” GIFTS

2013-02-20T13:38:49Z

Credit unions throughout the state of New Hampshire, all members of the New Hampshire Credit Union League (NHCUL), were treated to sweets and personal expressions of gratitude from Wish Children and volunteers from the Make-A-Wish® of New Hampshire (Make-A-Wish®) on February 12-14, 2013. Twenty-five Wish Children and their families visited 18 credit unions throughout New Hampshire to deliver sweets and to offer personal thanks and share highlights of their wishes, made possible in part by the NHCUL.

In Merrimack and Nashua, six Wish Children visited Anheuser-Busch Employee’s Credit Union, St. Joseph’s Hospital Employees’ Credit Union and Triangle Credit Union on February 12th. Four year old Wish Child, Rylee, visited the staff of Triangle Credit Union – wearing her formal princess gown - and shared memories of her family trip to Disney World. Rylee delivered cookies to share with staff at Triangle Credit Union.

“The New Hampshire Credit Union League members look forward to Valentine’s Day each year, knowing that they’ll have a chance to reconnect with Wish Children, whose wishes they have played a significant role in granting. Credit union staff is thrilled to hear about family treks to Disney World; a Disney Cruise; or the installation of a family pool or playhouse in a Wish Child’s backyard. It’s inspiring and motivates the credit unions to continue their benevolent work. Since 1996, the NHCUL has been a proud supporter of Make-A-Wish®, raising a total of $1.6 million to support the goals of this benevolent organization: granting wishes of children with life-threatening medical conditions,” said Gerald Dumoulin, chairman of the NHCUL Board. “The NHCUL is proud to be recognized as Make-A-Wish® largest corporate partner, and even prouder to enhance the lives of children living in New Hampshire who are confronted with serious health issues,” added Dumoulin.

Julie P. Baron, CEO of the Make-A-Wish® of New Hampshire, praised the successful collaboration between Make-A-Wish® and the NHCUL. “Make-A-Wish® is so appreciative of the amazing partnership we share with the NHCUL. Their support of our mission to grant the wishes of children with life- threatening medical conditions has brought joy to so many children. Their impact has reached every corner of the state – bringing hope, strength, and joy into the lives of children who are facing some very grown up battles,” said Baron. “Valentine’s Day is special to Wish Children throughout New Hampshire – it allows them the chance to visit with and thank the heroes who made their dreams a reality,” added Baron.

Governor Lynch officially kicks off sales season of NHCUL Calendar Raffle for Make-A-Wish®

2012-10-19T17:32:12Z

On October 10, 2012, New Hampshire Governor John H. Lynch was joined by members of the New Hampshire Credit Union League (NHCUL), representatives of the Make-A-Wish Foundation® of New Hampshire credit union employees from throughout New Hampshire, and local guests, to launch the sales season of the Make-A-Wish® 2013 Calendar Raffle. The event to launch the 2013 Calendar Raffle, limited to 2,500 calendars, featured speeches from representatives of both the NHCUL, Make-A-Wish®, and Governor John. H. Lynch. Governor Lynch commended New Hampshire credit unions for their corporate social responsibility and for making a difference for non-profit organizations in New Hampshire – including Make-A-Wish®. In addition, Governor Lynch shared the podium with the five Wish Children in attendance, and asked each to share details on the Wishes they received.

Lynch commented, “I believe there is nothing nobler a person can do than to help others. The credit unions’ support of Make-A-Wish® and these remarkable young people is a fantastic example of that.” Governor Lynch then purchased the first 2013 calendar and Wish Children – David, Jessica, Corey, Stephanie, and Megan (Miss New Hampshire) – were on hand to autograph the Governor’s calendar. The group presented the Governor with a special photo memory book from the previous 3 calendar event kick-offs.

Gerald Dumoulin, NHCUL Board Chairman, informed guests of the significance of fundraising initiatives by New Hampshire’s credit unions, and praised Governor Lynch for his support of the Calendar Raffle. “Starting this month and throughout the year, the credit unions of the NHCUL are joining forces to raise funds for Make-A-Wish®. The Make-A-Wish® Calendar Raffle is in its fifth year and a total fundraising goal of $155,000 has been set to support Make-A-Wish®. To achieve this goal, New Hampshire credit unions participate in a variety of fundraising programs, which include: The Richard D. Mahoney Memorial Golf Tournament; candy bar sales; League Chapter and state convention auctions; and theme park ticket sales. The NHCUL is grateful for the support of the more than 500,000 New Hampshire residents who are credit union members, and for Governor Lynch, who has been a steadfast supporter of Make-A-Wish® and the fund raising efforts of New Hampshire credit unions,” added Dumoulin.

Julie P. Baron, CEO of the Make-A-Wish Foundation® of New Hampshire, praised the philanthropic spirit and philosophy of New Hampshire’s credit unions. “The Make-A-Wish® Foundation of New Hampshire is so appreciative of the amazing partnership we share with the NHCUL. New Hampshire credit unions “live” and exemplify their sense of corporate social responsibility -“people helping people” - throughout the year. Their impact has reached every corner of the state – and is key in assisting Make-A-Wish® grant beyond 1,000 wishes and celebrating our 25th anniversary in 2012,” said Baron.

Ronald H. Covey, Jr. Elected to Board of Directors

2012-08-01T13:47:08Z

At the 58th Annual Meeting and Convention of the New Hampshire Credit Union League (NHCUL), held at the Omni Mt. Washington Resort, June 15-17, 2012, Ronald H. Covey, Jr., was elected to the NHCUL’s Board of Directors. A financial services executive with more than three decades of experience, Covey will serve a three term on the seven-member NHCUL Board of Directors.

“It’s an honor to have been elected to the Board of Directors of the New Hampshire Credit Union League and represent New Hampshire’s 21 consumer-owned credit unions and their 500,000 members. The NHCUL has had impressive industry growth figures. Just this past year, statewide membership in credit unions grew 5.09%, while assets in New Hampshire credit unions grew to $5.3 billion. I look forward to serving on the NHCUL Board of Directors,” said Covey. Covey also looks forward to supporting the myriad of philanthropic and NHCUL partnerships including: More Than Wheels; Make-A-Wish Foundation® of New Hampshire; Greenlight Initiative (energy efficiency loans); and CU4Reality™ Financial Education Program (financial literacy program).

Selected as the President and CEO of Manchester-based St. Mary’s Bank in 2008 – the nation’s first credit union – Covey is the 8th professional to serve in this role at St. Mary’s over the past 104 years. Covey has extensive experience managing commercial, consumer, mortgage lending; branches; commercial loan operations; collections; and special assets groups. Covey received a B.S degree from the University of New Hampshire and a master’s in business administration from Southern New Hampshire University.

Within the Greater-Manchester community, Covey has served as Chairman of the Board of Trustees of the NH Institute of Art; the Board of Directors of Greater Manchester Chamber of Commerce and America’s Credit Union Museum Foundation; the Executive Board of the Daniel Webster Council of the Boy Scouts of America; Advisory Board/Trustee of the Manchester Regional Community Foundation; Trustee of the Boys & Girls Club of Greater Manchester; Campaign Chairman of the Bishops Charitable Assistance Fund; as well as the Board of Leadership Greater Manchester. Covey resides with his wife and family in Hooksett.

New Hampshire credit unions present $150,000 to Make-A-Wish, June 14, 2012

2012-07-02T19:38:34Z

New Hampshire credit unions present $150,000 to Make-A-Wish

The Richard D. Mahoney Charity Golf Tournament was held Thursday, June 14, at Candia Woods Golf Links. At the conclusion of the tournament, League representatives presented a $150,000 check to the Make-A-Wish Foundation of New Hampshire, surpassing the goal of $145,000 set in September 2011. This amount brings the sixteen year total to more than $1.6 million raised for wishes.

Throughout the day, the 108 golfers were greeted by the smiling faces of Wish Ambassadors Megan and Meghan who graciously served lemonade at the special Make-A-Wish Lemonade Stand. All the golfers were surprised to learn that Megan, who was crowned Miss New Hampshire in April, was a wish child and received her wish of a dance room six years ago. For an extra donation, Miss New Hampshire shared her crown with all the golfers and took photos with each group. Megan will compete in the Miss America scholarship pageant in January 2013 where she will show case her tap dancing skills. During the awards dinner, both young ladies spoke and thanked everyone for their support of Make-A-Wish®. The foursome of Maurice Simard, Mark Richardson, Dave Degulis and Jeff Pierce from Triangle Credit Union was the first place team and took home the coveted golf trophy.

The League’s Social Responsibility Committee extends a special thanks to all the tournament sponsors including: Benefactor - CUNA Mutual Group; Lunch - Tricorp Federal Credit Union and Synergent; Premier - Beliveau, Fradette, Doyle & Gallant, P.A.; Partners - FairPoint Communications; State National Companies; Raymond James/Morgan Keegan and Fiserv EFT; Sponsors - CRIF Lending Solutions; New England Employee Benefits; PSCU; CU Direct Corporation; Harland Clarke; Experian; EarthLink; Wells Fargo Advisors, LLC; Supporters - Creative Office Pavilion; G&A Insurance; Northeast Planning Associates, Inc.; Other - Image Wise; Upton & Hatfield LLP; Financial Management Solutions; Reliable Lender Services; Express Data Inc.; Portland Safe; Eisenberg, Vital & Ryze, LLC; and Coclin Associates. Social Responsibility Committee Chairman Brian Hughes also extended his thanks on behalf of the committee to all credit unions, their members, and chapters for the tremendous support they have all given in the last sixteen years.

Julie Baron, CEO of the Make-A-Wish Foundation® of New Hampshire, praised the efforts of the League, the credit unions, members, vendors, and the Social Responsibility Committee for their contributions each year. “We thank you for being our partner. Your donation orchestrates the greatest return, a child’s joyful heart and for that we are most grateful. Thank you so much for your unending support,” said Baron. The League, and its member credit unions, remains the largest corporate partner of the Make-A-Wish Foundation® of New Hampshire with the largest donation to date.

NHCUL Sponsor’s 1,000th Wish for Make-a-Wish® Foundation of NH

2012-01-26T15:42:20Z

The New Hampshire Credit Union League (NHCUL) is proud to announce their sponsorship of the 1,000th Wish for the Make-A-Wish Foundation® of New Hampshire. The 1,000th Wish, a two story castle which measures 24’x24’, was officially presented to Wish Child David of Epping, on Wednesday, January 25, 2012 during a celebration from Noon – 2:00 p.m. Festivities for the day included Wish Child David’s arrival via limousine and greetings from his entire 7th Grade Class from Epping Middle School. Governor John H. Lynch will be on hand to speak at the celebration, along with representatives of the NHCUL and Make-A-Wish®.

“The NHCUL is proud to serve as the sponsor of the 1,000th Wish for Make-A-Wish®. The NHCUL welcomed the opportunity to provide Wish Child David with his dream come true – a castle of his own in his back yard. Since 1996, the NHCUL has been a proud partner of Make-A-Wish®, raising a total of $1.5 million dollars to support the goals of this benevolent organization: granting wishes of children with life-threatening medical conditions,” said NHCUL Chairman, Michael L’Ecuyer. “Throughout the year, the 24 member credit unions of the NHCUL join forces to raise funds for Make-A-Wish®, through a variety of fundraising activities. I am proud of the accomplishments made by the NHCUL for Make-A-Wish® and appreciate the support of the 490,000 New Hampshire residents who are credit union members and support and believe in the mission of credit unions,” added L’Ecuyer.

Julie P. Baron, CEO of the Make-A-Wish Foundation® of New Hampshire, thanked and praised the NHCUL for their support of Make-A-Wish® in granting the 1,000th Wish. “To have the support of the NHCUL in granting the 1,000th Wish – the very same month our organization celebrates its 25th Anniversary – is a wonderful accomplishment and collaboration,” said Baron. “Their support of our mission to grant the wishes of children with life threatening medical conditions has brought joy to so many children. Their impact has reached every corner of the state – bringing hope, strength and joy into the lives of children who are facing some very grown up battles,” said Baron.

More than Wheels—Helping NH families get somewhere

2011-11-17T20:02:59Z

During the autumn, we are reminded of just how beautiful New Hampshire is every time we look out the window or walk out the door. Ironically, the beautiful countryside that makes our state a prized destination for people from all over the world can represent an insurmountable barrier to people without the means to acquire and maintain affordable and reliable transportation.

Last year, the New Hampshire Credit Union League began working with More Than Wheels of New Hampshire, formerly Bonnie CLAC, to help overcome this problem. Credit unions and Bonnie CLAC each have a history of helping people with limited means meet their transportation needs. Credit unions do so by offering terrific rates on straight forward vehicle loans to New Hampshire motorists. More Than Wheels works with individuals and families that have a credit profile that excludes them from being considered from conventional financing opportunities. All too often that means that these folks find themselves at the mercy of predatory “sign and drive” sales operations that offer over-priced, tired vehicles with big price tags and high interest rate financing. These sorts of vehicles usually end up becoming a financial, bottomless pit instead of the reliable transportation that these families need.

More Than Wheels has helped nearly 1,500 people purchase vehicles at the best price and loan rates available, and at the same time helped them repair their credit for the long term. The organization employs a time-tested process that makes it possible for these people to purchase, finance, and own a car. A reliable vehicle is the key to ensuring that they can to get to work, get their children to school, shop, and keep medical appointments.

More Than Wheels doesn’t just find cars and loans for their clients. The organization provides personal financial education for them and their families. They offer a comprehensive program created to help people budget, save, and spend more wisely, and to methodically improve their overall credit history. They also empower clients with the realization that they are not alone. More Than Wheels introduces clients to a community of peers with whom they can share stories of struggle and gain new perspectives for strength. After that, the organization enables the client to buy a new, reliable car by providing reasonable financing options.

More Than Wheels plays a hands-on role throughout the buying process. The team from the organization works with the client to identify an appropriate new vehicle for the family that is practical, reliable, and fuel efficient. Keeping the cost of maintenance predictable and low is a key factor in making the ownership experience successful. The More Than Wheels team then goes to work simultaneously with its network of car dealers and lenders to get good deals on both the car and the loan.

The credit unions of New Hampshire are assisting More Than Wheels by helping to spread the word about the good work that they are doing, providing loans, and assisting with funding. The communications component is vitally important at this stage because there are many people who could be helped by this program who are not aware of the good work that More Than Wheels does. The credit unions are helping by putting information up on their websites and in their lobbies. They are also able to let the people who need this kind of help most know when they see them in the loan office. More Than Wheels provides an alternative to having to send an unqualified borrower away with nothing but a no.

Some credit unions are partnering with More Than Wheels to offer loans to the clients who are purchasing these new vehicles. These loans are market priced and reflect the fact that More Than Wheels is working with both the borrower and the credit union to ensure that the loan is successfully paid off.

Consumers who would like to learn more about this unique program can call More Than Wheels at 1-866-455-2522 or visit their website at http://www.morethanwheels.com.

NH Credit Unions Raise $150,000 for Make-A-Wish Foundation® of NH in 2011

2011-07-01T14:22:38Z

At the 11th annual Richard D. Mahoney Credit Union Charity Golf Tournament, held on June 16, 2011 at Candia Woods Golf Links, the New Hampshire Credit Union League (NHCUL) (http://www.goCU.org) announced that $150,000 had been raised for the Make-A-Wish Foundation® of New Hampshire (Make-A-Wish) for 2011. The amount raised this year surpassed the initial goal by $5,000, and was achieved through the collaboration and collective efforts of New Hampshire’s 26 credit unions and a series of state-wide and local fundraising initiatives.

“The task of raising more than $150,000 this year for Make-A-Wish – coupled with the 15 year fundraising total of nearly $1.5 million dollars – can be attributed to our credit unions, employees, corporate donors, and the more than 403,000 credit union members in New Hampshire who have conducted and supported fundraising initiatives throughout the year,” said Michael L’Ecuyer, NHCUL Board Chairman. “This year’s Richard D. Mahoney Credit Union Charity Golf Tournament raised $60,500, thanks to the 128 participants and 15 major tournament sponsors, with the remaining $90,000 raised by a series of numerous fundraising events,” added L’Ecuyer.

Proceeds from the NHCUL Make-A-Wish 2011Calendar Raffle contributed $18,700 to the 2011 goal, while also generating interest and support from NH Governor John H. Lynch, who hosted the October 4, 2010 calendar sales Kick-Off event at the New Hampshire State House. “The State House Kick-Off with Governor John H. Lynch was an exciting event and key to the success of our campaign. From Governor Lynch’s speech and acknowledgement of the contributions made by NHCUL to Make-A-Wish, to the special gift presented by Wish Children to the Governor, it was spectacular day,” added L’Ecuyer.

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An additional $19,550 was contributed to the 2011 goal though the collaboration and success of auctions at the local and state level. The Merrimack Valley, Monadnock, and Northern chapters successfully raised more than $15,360 for Make-A-Wish with the success of their auctions. An additional $4,190 was raised at the Annual Meeting and Convention Auction. Another successful collaboration for the NHCUL in reaching its 2011 fundraising goal was the sales of Granite State Candy Dream Bars. “The NHCUL raised close to $16,000 for Make-A-Wish from selling these Dream Bars. This could not have been achieved without the support of participating credit unions as well as support from credit union members throughout the state,” said L’Ecuyer.

“The NHCUL was proud to partner with three of New Hampshire’s favorite sports/recreational parks and raised more than $5,000 for Make-A-Wish,” added L’Ecuyer. Discount ticket sales were held for Canobie Lake Park, Water Country, and Northeast Delta Dental Stadium – home of the NH Fisher Cats baseball team. “A special event at a Fisher Cats baseball game was successful in fundraising, while also providing Wish Children the opportunity to meet the players and throw out the first pitch. It was a ‘win-win’ for all involved,” added L’Ecuyer.

Julie P. Baron, CEO of the Make-A-Wish Foundation® of New Hampshire, an organization that strives to grant wishes of children with life-threatening medical conditions, praised the NHCUL for their contributions. “It is the sheer joy of a wish that is the most powerful medicine of all. Our partners – the credit unions across New Hampshire – have made that possible. You have orchestrated the greatest return: a child’s joyful heart,” said Baron. The contributions made by NHCUL to Make-A-Wish represent the largest corporate donation to date, according to Baron.

Brian F. Hughes – Holy Rosary Credit Union President and CEO Elected to Board of Directors for Ne

2011-07-01T14:17:52Z

Dixville Notch, NH—At the 57th Annual Meeting and Convention of the New Hampshire Credit Union League (NHCUL), held at the Balsams Grand Resort, June 10-12, 2011, Brian F. Hughes was elected to NHCUL’s Board of Directors. Currently a member of the NHCUL Community Outreach, and Federal and State Legislative/Political Fundraising Committees, Hughes also served on the Bylaws and Resolution Committee.

“I’m honored to be serving on the NHCUL Board of Directors. This is a very exciting time for the credit union industry and for the NHCUL. Here in New Hampshire, the credit union industry is seeing strong growth in membership, assets and loans. All while offering consumers lower fees and higher yields on their investments” said Hughes. “Credit unions in New Hampshire take tremendous pride in meeting the financial needs of their members, while also meeting the needs of New Hampshire’s underserved. Members trust us. An example is through the NHCUL’s partnership with More Than Wheels,” added Hughes “Credit unions throughout the state are assisting low to moderate income families obtain reliable, safe automobiles at a competitive rate via NHCUL member credit unions.”

A credit union professional with three decades of experience, Hughes was hired as President and CEO of Rochester-based Holy Rosary Credit Union of New Hampshire (HRCU) in 2004. During his tenure as President and CEO, HRCU’s institutional assets have grown from $100 million to $170 million. The credit union was named 2011 Business of the Year, by the Dover, NH Chamber of Commerce and is very involved both financially and through volunteering with local charities, various fundraisers and giving to various youth groups throughout the Seacoast.

A resident of Greenland, Hughes received both his Bachelor and Master of Science degree in Management from Bridgewater State University. Hughes has generously given back to the Rochester community by serving on the Board of Directors of: Greater Rochester Chamber of Commerce; Frisbie Memorial Hospital, Rochester Opera House, Rochester Country Club and served on the Rochester Main Street – Economic Development Committee. He is also a Paul Harris Fellow through the Rochester Rotary.

NH Credit Union League Supports Local Charities During Holiday Season

2010-12-17T14:37:00Z

Portsmouth, NH December 17, 2010 – The New Hampshire Credit Union League (NHCUL), which represents New Hampshire’s 26 consumer-owned credit unions, is pleased to announce that credit unions throughout the Greater-Seacoast area, are generously supporting local charities, along with U.S. Military Service members this holiday season. Service Credit Union, Northeast Credit Union, NH Federal Credit Union, Granite State Credit Union, Holy Rosary Credit Union and Seacoast Credit Union are active this holiday supporting needs ranging from winter clothing drives for children to providing gift cards for members of the U.S. military serving overseas.

“While credit unions in New Hampshire come in different sizes and serve different fields of membership, credit unions share a common commitment to improve the quality of life in NH. The NHCUL actively supports and encourages credit unions in their community outreach efforts,” said Michael L’Ecuyer, NHCUL Chairman of the Board. “In addition to offering seasonal support and spreading holiday cheer during a challenging economic climate, the NHCUL gives back to New Hampshire residents throughout the year via several philanthropic organizations. For example, the NHCUL has been the largest corporate sponsor and partner to the Make-A-Wish Foundation of New Hampshire for 14 years and is proud of raising $1.4 million for this benevolent organization,” added L’Ecuyer.

With the support of members and the community, 16 Service Credit Union branches in New Hampshire have been collecting holiday toys for needy children via the Wish Tree campaign, with a goal of making the holidays brighter for 200 NH children. For children with life threatening illnesses, Service Credit Union has actively supported the Make-A-Wish Foundation of New Hampshire through the sales of Calendar Raffles and through the volunteer efforts of staff at the Make-A-Wish Holiday Reunion. For U.S. Military Service men and women serving abroad and in NH, Service Credit Union provided a full holiday meal for 900 Air National Guard members and their families on December 5th. For those serving our country overseas, Service Credit Union will provide holiday gift cards to 1000 troops.

“We are a believer in the credit union philosophy of people helping people, especially in the midst of a tough economic climate and holiday season,” said Northeast Credit Union, Chief Operating Officer, Michael Chisholm. Northeast Credit Union has been actively supporting Toys for Tots, as well as food and clothing drives at nine of their branch locations this holiday season. To support the Make-A-Wish Foundation of New Hampshire, Northeast is selling holiday candles, candy bars and 2011 Raffle Calendars. “At Northeast Credit Union we provide paid time, so that our employees can roll up their sleeves and give back to the community through programs such as the United Way Day of Caring,” added Chisholm.

Participating Credit Unions for Calendar Raffle

2010-11-08T16:23:00Z

The following credit unions in New Hampshire are participating in the calendar raffle initiative to benefit the Make-A-Wish Foundation. Calendars will be available at these participating credit union offices and branches:
Bellwether Community Credit Union
Cheshire County Federal Credit Union
Granite State Credit Union
Gropaco Federal Credit Union
Guardian Angel Credit Union
New Hampshire Federal Credit Union
New Hampshire Postal Credit Union
Northeast Credit Union
Service Credit Union
St. Joseph Hospital Employees’ Credit Union
Triangle Credit Union
Woodlands Credit Union

NH Governor Lynch Kicks-Off NH Credit Union League Calendar Raffle for Make-A-Wish Foundation

2010-10-13T11:55:00Z

New Hampshire Governor John H. Lynch launched the New Hampshire Credit Union League (NHCUL) Make-A-Wish 2011 Calendar Raffle to benefit the Make-A-Wish Foundation® of New Hampshire (Make-A-Wish), on Wednesday, October 13, 2010 at the New Hampshire State House in Concord. The official start of the campaign to promote the 2011 Calendar Raffle, which is limited to 2,500 calendars, took place on the front steps of the State House, and included a special presentation to Governor Lynch by Wish Children; brief speaking moments; and an opportunity for those present to purchase calendars. Joining Governor Lynch were representatives of the NHCUL, NH credit union employees, along with Make-A-Wish staff and Wish Children and their families.

“For the past 14 years, the NHCUL has been a proud supporter of Make-A-Wish, raising a total of $1.3 million dollars to support the goals of this benevolent organization: granting wishes of children with life threatening medical conditions,” said NHCUL Social Responsibility Chairman, Gerald Dumoulin. “Starting this month and throughout the year, NHCUL members are once again joining forces to raise funds for Make-A-Wish. Fundraising in this economic climate is challenging, yet the NHCUL and its 26 member credit unions, are committed to doing everything possible to reach our annual fundraising goal of $145,000 for Make-A-Wish. The NHCUL is grateful for the support of Governor John H. Lynch, as well as the 403,000 New Hampshire residents who are credit union members,” added Dumoulin.

Julie P. Baron, CEO of the Make-A-Wish Foundation® of New Hampshire, praised the successful collaboration between Make-A-Wish® and the NHCUL. “The support we’ve received from the NHCUL over the past 14 years has allowed us to grant wishes and dreams to children with life-threatening medical conditions throughout New Hampshire. We currently have 44 pending wishes, and successful fundraising events, such as the Calendar Raffle, will help us achieve our goal of making wishes come true for all of New Hampshire’s eligible children,” said Baron

The cost of the Make-A-Wish Calendar Raffle is $25 and grants 367 prize drawings, throughout the year, worth more than $19,000.00. All sales proceeds will benefit the Make-A-Wish Foundation® of New Hampshire. To purchase a Make-A-Wish Calendar Raffle, please visit a local credit union in your community.

Michael L’Ecuyer Elected Chairman of New Hampshire Credit Union League

2010-09-08T19:07:00Z

At the 54th annual meeting of the New Hampshire Credit Union League (NHCUL) held at the Mt. Washington Resort on June 7, 2008, Michael L’Ecuyer was re-elected by NHCUL’s nominating committee to serve a third term and voted by the Board to serve as Vice-Chairman. During his two terms on the NHCUL Board, L’Ecuyer served as Secretary/Treasurer for two of the six years he has served.

“The NHCUL has a long history of supporting credit unions and their members. Credit unions have a demonstrated track record of success in helping people meet their financial goals and fulfill dreams. I look forward to supporting New Hampshire credit unions as they serve their members and communities in these challenging times,” said L’Ecuyer.

For the past seven years, L’Ecuyer has been affiliated with Manchester-based Bellwether Community Credit Union (BCCU) as President/CEO. During his tenure as President/CEO, institutional assets at BCCU have grown from $195 million to $327 million.

New Hampshire Credit Unions Post Impressive Growth Numbers in 2009

2010-09-08T18:59:00Z

New Hampshire credit unions, which hold some $4.68 billion in assets, have seen growth in assets, deposits, loans and membership according to data compiled from year end reports released recently by the National Credit Union Administration.

Over the year the 23 credit unions located in the Granite State had aggregate growth in assets of 10.7% rising to $4.68 billion from $4.22 billion at the first of the year. This figure exceeds the national growth rate of 8.9%.

With more than 452,000 members and growing, New Hampshire credit union membership grew by 6.1% during 2008. “Clearly the people of New Hampshire see that credit unions are financially strong, well capitalized and working hard to meet their needs said New Hampshire Credit Union League president Daniel F. Egan, Jr.

Savings in New Hampshire credit unions are also up increasing by 13.2% since the beginning of the year. Nationally savings grew by more than 10%. “Credit unions traditionally offer more competitive savings rates than banks and consumer can save significantly by using the services of their local credit union,” added Egan.

Despite the fact that consumer has been hearing a great deal about the credit crunch Granite State credit unions are ready to meet their borrowing needs. Loans outstanding at New Hampshire credit unions grew by 9.7% to $3.13 billion dollars during 2009. Loan growth a credit unions in the Granite State outpaced the national rate which was 1.2%. According to Egan, New Hampshire credit unions have seen a growth in both loan applications and allocations. “New Hampshire’s credit unions take pride in offering fairly priced home, auto and personal loans to people who are part of our credit union community,” said Egan.

Credit Unions in New Hampshire are fully insured by the National Credit Union Administration (NCUA), which provides exactly the same deposit insurance coverage banks received from the FDIC. Member accounts are insured up to $250,000.

Make-A-Wish Foundation® of NH Ambassadors to Deliver Sweet Thank You’s to NH Credit Unions

2009-10-14T18:53:00Z

On Thursday, October 15, 2009 – 3:00 p.m. – 5:00 p.m, the New Hampshire Credit Union League’s member credit unions will receive baskets of baked goods from wish children and volunteers on behalf of the Make-A-Wish Foundation® of New Hampshire on Thursday, October 15, 2009 which is International Credit Union Day. Throughout the state of New Hampshire, wish children and volunteers will hand deliver these gifts and thank NHCUL members for their support of the Make-A-Wish Foundation of New Hampshire for the past thirteen years. Through dedicated philanthropic fundraising, the NHCUL has raised more than $1,190,387 for the Make-A-Wish Foundation of New Hampshire. The NHCUL is proud to support and collaborate with the Make-A-Wish Foundation of New Hampshire in granting wishes to New Hampshire children with life-threatening medical conditions. Participating Credit Unions:

Anheuser-Busch Employees’ Credit Union/Merrimack
Bellwether Community Credit Union/Manchester
Cheshire County Federal Credit Union/Keene
Cheshire Health Federal Credit Union/Keene
Granite State Credit Union/Manchester
Gropaco Federal Credit Union/Groveton
Guardian Angel Credit Union/Berlin
Heritage Family Credit Union/Hooksett
Holy Rosary Credit Union/Rochester
MembersFirst Credit Union of NH/Manchester
NGM Employees Federal Credit Union/Keene
NH Community Federal Credit Union/Claremont
New Hampshire Federal Credit Union/Concord
New Hampshire Postal Credit Union/Manchester
Northeast Credit Union/Portsmouth
Precision Credit Union/Keene
Seacoast Credit Union/Hampton
Service Credit Union/Portsmouth
St. Joseph Hospital Employees Credit Union/Nashua
St. Mary’s Bank Credit Union/Manchester
Timken Aerospace Federal Credit Union/Lebanon
Triangle Credit Union/Nashua
Upper Valley Community Credit Union/Lebanon
Woodlands Credit Union/Berlin

NH Credit Union League Launches Energy Conservation Loan Program – Greenlight Loans

2009-10-09T13:57:00Z

The New Hampshire Credit Union League unveiled a new lending initiative designed to help consumers finance projects that increase energy efficiency and allow homeowners to decrease the size of their carbon footprints.

“The New Hampshire Credit Union (NHCUL) Greenlight Loans are truly a win-win for homeowners and the environment,” stated Michael L’Ecuyer, President of Bellwether Credit Union. L’Ecuyer, who chairs the League’s Community Outreach Committee said, “These loans will help home owners make a real and lasting investment in their home, while reducing their long term energy consumption and costs – which ultimately benefits the environment.”

The initiative began when the New Hampshire Credit Union League surveyed its’ membership at the beginning of 2009, to establish a community outreach initiative that benefited consumers statewide. The idea of helping consumers reduce their household expenses, build wealth - while promoting a “green initiative” - was one that the state’s 26 credit unions embraced. Next the League brought together a group of credit unions to participate in the initiative. It was determined that a simple a simple approach would work best. Each of the credit unions set forth its own approach to making energy conservation loans. Several of the credit unions created new products, while others chose to use their existing unsecured (personal) and secured (real estate) loans. The common thread is the commitment the New Hampshire Credit Union League made to aggressively promote and provide these loans, while educating consumers about cost cutting energy options. “We’ll be there to assist consumers with making energy efficient upgrades to their home. If a homeowner could reduce energy savings via a new furnace, improved insulation, installation of energy efficient winds and doors – we want to help. Renewable energy options - such as solar panels - are options the League would also embrace. People need to know that they have access to financing for these projects – with minimal reporting requirements,” added L’Ecuyer.

The New Hampshire Credit Union League Greenlight Loans initiative will be promoted through an aggressive public awareness campaign and online via the League’s consumer information website. On the site, consumers will have contact information on participating credit unions, as well as research best practices in energy conservation, potential tax incentives and grants opportunities for certain projects.

New Hampshire Credit Unions Contributions to Make-A-Wish Foundation Exceed $1,190,000

2009-08-11T10:59:00Z

The New Hampshire Credit Union League’s (NHCUL) 9th annual Richard D. Mahoney Credit Union Charity Golf Tournament held on June 18, 2009, at Candia Woods Golf Links, raised $57,000 for the Make-A-Wish Foundation® of New Hampshire. Thirteen years of dedicated philanthropic fundraising by NHCUL’s 26 credit unions – brings the total raised for Make-A-Wish to $1,190,387.

The success of the Richard D. Mahoney Credit Union Charity Golf Tournament and the NHCUL’s overall support of Make-A-Wish have grown over in the last several years. NHCUL Chairman, John R. Young, was extremely pleased with the amount raised by the NHCUL in spite of a challenging economic climate. Through the support of 120 golfers, dedicated volunteers and four corporate sponsors: Equifax/APPRO Systems Inc., SYNERGENT, Tricorp Federal Credit Union and Premier Sponsor, Beliveau, Fradette, Doyle & Gallant - the NHCUL was successful in raising a total of $140,000 for NH’s Make-A-Wish, said Young. The golf tournament is our largest fundraising event of the year for Make-A-Wish. In addition, credit unions throughout New Hampshire, continuously conduct fundraising events including candy bar sales, a year-long calendar raffle and baseball games to raise additional funds for Make-A-Wish, added Young.

Raising more than one million dollars over the past thirteen years was a significant milestone for NHCUL and I attribute this to our 13 member Social Responsibility Committee, our 26 credit unions, employees, corporate donors and the more than 403,000 credit union members in New Hampshire. NHCUL is proud to be acknowledged, to date, as the largest corporate donor to New Hampshire’s Make-A-Wish, said Young.

Julie P. Baron, CEO of the Make-A-Wish Foundation of New Hampshire, an organization that strives to grant wishes of children with life-threatening medical conditions, praised the League and the Social Responsibility Committee for their contributions and efforts throughout the year. It is the sheer joy of a wish that is the most powerful medicine of all. Our partners, the credit unions across New Hampshire have made that possible for thirteen years, said Baron.

The New Hampshire Credit Union League is a trade group representing New Hampshire’s 26 consumer-owned credit unions. Credit Unions are not-for-profit financial cooperatives and offer a variety of consumer financial services to over 403,000 New Hampshire residents and more than 85 million Americans

Credit Union Financial Education Initiative Showcased on WMUR TV Chronicle Program

2009-06-11T20:44:00Z

On Monday, June 15th, WMUR TV’s Chronicle program featured a segment about CU 4 Reality, a financial literacy program for middle and high school students developed by New Hampshire credit unions. Throughout the year a number of New Hampshire credit unions sponsor financial education programs in conjunction with local schools. Those programs culminate in a hands on learning experience called a reality fair.

The Chronicle piece followed three students as they participated in a fair hosted by Bellwether Credit Union this past May. In the true credit union cooperative spirit, the fair was staffed by volunteers from many other NH credit unions.

You can learn more about the program by visiting the program website at :
http://www.cu4reality.org/

More than 9000 students benefit from CU4Reality Program Financial Literacy Program

2009-05-19T15:49:00Z

The CU 4 Reality Education Program, sponsored by local credit unions, has given students at middle schools in the United States and US Armed Forces installations in Germany a chance to learn about managing finances and how to calculate earnings and expenses. CU 4 Reality is a program cooperatively developed across a number of credit unions and is now in its fourth year. The partnership between the CU 4 Reality program and credit unions has benefitted approximately 9,000 students worldwide.

The program uses an in-class curriculum during the school year to teach participants important skills that will equip them to handle money responsibly, set and adhere to budgets, and avoid the pitfalls of debt. The program culminates with a simulated real-world CU 4 Reality Fair, where the student participants create a spending plan based on a salary, and balance needs versus wants, to make sure they are living within their means.

To complete their course of studies, the students attend a fair where they speak with representatives of auto dealership, cable TV, clothing, food and utility representatives and others to help them understand the many expenses they will face in adulthood.

According to recent reports, nearly a third of all high school seniors use at least one credit card or use ATM cards. In addition, more than three-quarters of seniors have a savings or checking account. However, just 20% of high school seniors graduate with any formal instruction in personal finance.

The CU 4 Reality curriculum creates a fun and interactive learning environment where students can practice specific financial management skills and learn early on the consequences of debt when it comes to financial matters.

Developed by the Financial Literacy Education Committee of Americas Credit Union Museum, in conjunction with the New Hampshire Credit Union League, the CU 4 Reality Program, which is in its fourth successful year, gives students the opportunity to participate in a hands-on event that propels them through the personal financial management process, including career selection, budgeting for housing, transportation, luxuries, and more.

At the CU 4 Reality Fair, each student receives a file detailing the personal information specific to their career choice. It includes their monthly gross income and students calculate their take-home pay and create a monthly spending plan as they progress through booths representing various categories of expenses they can expect to incur. Students make decisions about what they would spend on various items such as food, clothing, housing, transportation, insurance, home furnishings, savings, investments, entertainment and credit.

Americas Credit Union Museum promotes the heritage of the credit union movement through the preservation of credit union industry history. Additional information about CU 4 Reality program and the museum can be found at www.acumuseum.org and www.cu4reality.org.

NH Credit Unions Show Strong Growth in 2008

2009-04-13T20:25:00Z

The 23 credit unions headquartered in New Hampshire have seen growth in assets, deposits, loans and membership according to data compiled from year end reports released recently by the National Credit Union Administration.

Over the year these credit unions had aggregate growth in assets of 11.74% growing to $4.22 billion from $3.8 billion at the first of the year. This figure exceeds the national growth rate of 7%.

Savings in New Hampshire credit unions are up by 9.13% since the beginning of the year. Nationally savings grew by almost 7%.

Some of that money may have been deposited by new credit union members. The data show that New Hampshire credit unions have added approximately 23,000 new members in 2009 which represents a 5.7% increase.

NH Credit Unions Joins Nationwide Invest in America Partnership with GM and Chrysler

2009-01-09T19:55:00Z

The New Hampshire Credit Union League will be participating in the Invest in America credit union loan partnership with General Motors and Chrysler corporations. The Invest in America program, launched in Michigan by the Michigan Credit Union League, has expanded to all 50 states, providing discounts and affordable loans to 90 million credit union members.

Throughout 2008, NHCUL members have been busy making auto loans and this new initiative Invest in America, is another example of the ongoing commitment of the NHCUL members to meet the auto financing needs of New Hampshire residents.

Credit unions of New Hampshire have a reputation for offering competitive, no-nonsense rates, and couple these rates with Invest in America incentives, New Hampshire consumers can do exceedingly well.

The General Motors Credit Union Member Discount Program and Chryslers Credit Union Member Cash discounts were negotiated independently and offer unique and distinct terms. The programs, running from now through June 30, 2009, offer General Motors supplier price discounts or Chrysler rebates of $500 or $1000 on eligible vehicles. For specific terms, please stop by your local New Hampshire credit union or visit http://www.lovemycreditunion.org

Credit Card Debt Got You Down?

2008-12-15T12:58:00Z

In today’s world filled with plastic, it is difficult to fight the urge to use credit. As a late 20-year-old, I grew up with the mentality of a carefree “swipe and spend” world of credit cards. Don’t get me wrong, I love the convenience of not carrying cash and the quickness of the swipe and go transactions.
Unfortunately, with all the conveniences that credit cards offer, they also carry an array of problems if they are not managed with care. Spending more than you can pay every month is very easy with credit cards. If you are not careful, they can snowball very quickly leaving you with a feeling of how did this happen? With rising balances and high interest rates charged by the credit card companies, it can leave you feeling like you are in over your head.
Don’t fret though. I have amassed a few ways to help reduce or eliminate your credit card debt. After helping many people climb out of debt both personally and in my line of work, I want to share some of my tips with you.
This week I will talk about ways you can reduce your interest you are paying or eliminate your credit card debt entirely. Next time, I will share some helpful tips on reducing your debt and ways to keep you debt-free.

Ways to combat Credit Card Debt.
There are many ways you can fight back the overwhelming fees charged by credit card companies and save your hard-earned money in the process.

1.If you own your house and have some equity you could take out a home equity loan or refinance your mortgage. Equity is the difference in what you owe compared to what your home is worth. Here is and example, you owe $150,000.00 on your mortgage and your house is appraised at $250,000.00. Your equity in your home is $250,000.00 – $150,000.00 = $100,000.00.
A Home Equity Loan is a fantastic option for two major reasons. The interest rate you pay will be considerably less than the rates you pay on your credit cards and the interest that you pay on the Home Equity may be tax deductible. This could save you money when you do your taxes. Another benefit of doing a Home Equity loan is the flexibility of setting fixed payments. You can do this by determining the term in months or years that you want to repay the loan. Many Home Equity loans can go up to 15 years before they need to be paid off, but I would suggest 5 to 7 years if you can afford the payments.
There are some minor drawbacks to Home Equity loans as well. If you decide to get a Home Equity Line-of-Credit, you have the option of interest only payments which will save you money short term, but it will never reduce your debt. You may not want to spread out your payments over too much time because it may be counterproductive. If you are considering a Home Equity loan to pay off your credit cards, I would not recommend a line of credit since they are more geared toward home repairs and planning for unexpected expenditures.

2.Here is another little known fact that I would like to point out. Your car may also be a source of equity. If you own your car and it is less than 10 years old, you can use that as collateral for a loan. Car loans usually have a higher interest rate than Home Equity loans, but the rates still are lower than most credit cards. If you only have a little credit card debt ($5,000.00 to $10,000.00 depending on your car’s value), this could be a better option than a Home Equity loan. Auto loans are typically easier to apply for due to less paperwork and a faster turnaround. If you are concerned about tapping into your home equity, then maybe an auto loan would be right for you.

3.If neither of these options are available to you, I would then recommend transferring your balances to a lower APR card. During this economic crunch, credit card companies are scrambling to lure potential customers to use their cards in efforts to generate income. This is great news for you! There are many card issuers that are offering low introductory rates when you transfer balances to them. This will save you on interest and will pay down your principle faster. Just remember that this is a short-term fix (most cards offer these low promotional rates for only 6 to 12 months)and you must be diligent in paying your principle down.

4.The last way you can reduce your credit card debt is calling up your current credit card issuers and asking them to lower the APR that they are charging you. You may be pleasantly surprised when you talk to your current credit card company about lowering your rate. From time to time, certain credit card companies run promotions that are not offered publicly. They even may want to keep your business by offering a lower rate if you can get a better deal with a new card. As my mother used to say, “It never hurts to ask!”.

NH Credit Unions Grow Throughout the First Three Quarters of 2008

2008-12-03T19:58:00Z

The 23 credit unions headquartered in New Hampshire, which hold some $4.1 billion in assets, have seen growth in assets, deposits, loans and membership according to data compiled from quarterly reports released last week by the National Credit Union Administration.

Over the first nine months of the year the NH credit unions had aggregate growth in assets of 10% growing to $4.1 billion from $3.8 billion at the first of the year. This figure was nearly double the national growth rate of 5.7%.

Savings in New Hampshire credit unions are up by 7.5% since the beginning of the year. Nationally savings grew by 5%.

Some of that money may have been deposited by new credit union members. The data show that New Hampshire credit unions have added approximately 18,000 new members in 2009 to date representing a 4.5% increase.

Despite the fact that consumer has been hearing a great deal about the credit crunch New Hampshire credit unions are ready to meet their borrowing needs. Loans outstanding at New Hampshire credit unions have grown by more than 10% or $250 million dollars since the beginning of the year. Loans were up nationwide by 5.6%

Credit Unions have Money to Lend

2008-11-21T19:43:00Z

Amidst all of the economic turmoil we have been experiencing there has been a tremendous amount of talk a bout a consumer credit crunch. While it is true that some lenders do not have much money to lend that is not true at credit unions.

How can that be? Credit unions follow a very simple, tried and true business model. They take deposits from individuals and carefully lend them out to people who live and work in the community. This contrasts with many huge lenders who gather the funds they lend by selling bonds and securities. Now that the so called capital markets are in a constant state of flux it is hard for these lenders to raise the money that they need in order to make loans.

Credit unions on the other hand are seeing an overall increase in deposits because consumers are looking for a safe sound place for their money. The credit union can make that money available for loans.

It is important to remember that credit unions have sustained their business model through the years by adhering to sound lending principles designed to safeguard the deposits that have been entrusted to them. Credit unions will go the extra mile to help people get loans but they are also going to make sure that borrowers do not take on debt that they can not repay..

NEW HAMPSHIRE CREDIT UNIONS AND MAKE-A-WISH FOUNDATION® OF NEW HAMPSHIRE CELEBRATE HONOR HEROES DAY

2008-11-19T10:37:00Z

The New Hampshire Credit Union League along with 11 wish children and volunteers from the Make-A-Wish Foundation® of New Hampshire will meet with firefighters throughout the state on Wednesday, November 19, 2008 at 3:30 p.m. to honor and thank New Hampshire firefighters for all they do.

From Manchester to Berlin, New Hampshire firefighters have enriched the lives of wish children by providing experiences ranging from fire station tours to fire truck escorts for wish children traveling to airports for trips and adventures that fire departments have sponsored. To thank firefighters, wish children will present each fire station with a copy of the 2009 Make-A-Wish® New Hampshire Raffle Calendar. Proceeds from calendar sales, which are available at many credit unions throughout New Hampshire, will assist the NHCUL in reaching their 2009 fundraising goal of $150,000 for Make-A-Wish Foundation® of New Hampshire.

WHAT: Celebrate Honor Heroes Day sponsored by NHCUL
WHEN: Wednesday, November 19th at 3:30 p.m.
WHO&WHERE:
BERLIN FIRE DEPT., 263 Main St. Wish child – Brendan, age 10 of Whitfield
CONCORD FIRE DEPT., 150 North St. Wish Child – Brenden, age 9 of Concord
DERRY FIRE DEPT., 131 E. Broadway. Wish Child – Taylor, age 8 of Derry
KEENE FIRE DEPT., 32 Vernon St. Wish Child – Nicholas, age 6 of Keene
MANCHESTER FIRE DEPT., 100 Merrimack St. Wish children – Stephanie, age 16 of Hookset and Zachary, age 14 of Bedford
NASHUA FIRE RESCUE, 70 E. Hollis St. Wish Children – Anna, age 6 of Nashua and Sarah, age 27 of Hooksett
PORTSMOUTH FIRE DEPT., 170 Court St. Wish Child – Hannah, age 10 of Dover
ROCHESTER FIRE DEPT., 37 Wakefield St. Wish Children – Barbara, age 16 of Barrington and Teagan, age 8 of Dover
VISUAL: Wish children greet and celebrate their local firefighters; children present Calendars; local fire departments provide tours to wish children and families.

The New Hampshire Credit Union League is a trade association that represents the state’s credit unions. Credit unions are consumer-owned cooperatives that offer a wide variety of financial services to their members.

U.S. News & World Report: The Benefits of Credit Unions

2008-10-30T13:27:00Z

U.S. News & World Report: The Benefits of Credit Unions
Tuesday October 21, 10:55 am ET
By Kimberly Palmer

Full article is below and online at usnews.com

.......

With banks tightening lending standards and interest rates headed north, where do you turn? For 90 million Americans, the answer is credit unions.

Credit unions, which, unlike banks, are owned and governed by their members, are often misunderstood as exclusive places with limited services. But in reality, most Americans are eligible to join them and they provide an increasingly diverse array of services, including free ATM use, electronic banking, loans, and interest-bearing savings accounts.

Here are answers to common questions about credit unions:

Am I eligible to join a credit union? While membership in a credit union depends on belonging to certain communities, such as a workplace, region, or church, Becker says most consumers are eligible, even though many don’t realize it. “Virtually everyone in the nation could find a credit union they could join if they went through the effort,” he says.

So how do you find one? Websites such as NCUA, Find a Credit Union, and the Credit Union National Association can help. In addition, ask around—your employer, spouse’s employer, or local government council can direct you as well.

Do credit unions offer better interest rates? On average, credit unions offer lower rates on loans and higher rates on savings accounts—just what consumers want. This chart from the National Association of Federal Credit Unions shows that the average bank rate on a four-year, new-car loan is 6.92 percent. At credit unions, it’s 5.43 percent. Similarly, a five-year CD for $10,000 returns 3.54 percent at banks on average compared with 3.94 percent at a credit union.

Many credit unions also have limits on interest rates; federally charted credit unions, for example, have an 18 percent limit that applies to all loans, including those for cars and credit cards.

Have credit unions been affected by the current financial crisis? Like banks, credit unions have experienced a rise in delinquencies this year, says Fred Becker, president of the National Association of Federal Credit Unions. But he thinks credit unions are less affected by the crisis than banks because a strong sense of community responsibility drives credit union members to repay their loans on time. “They realize they’re adversely affecting other members if they don’t pay back the loan,” Becker says, adding that at one church credit union, you don’t attend Sunday service without your car payment.

Are deposits insured the same way they are at banks? Yes. Credit unions are insured by the National Credit Union Administration, which provides the same protections—insurance coverage on deposits up to $250,000—that the FDIC provides to banks. NCUA’s website allows credit union members to check on their insurance coverage.

Do credit unions ever collapse? Like banks, credit unions can fold but, also like banks, that usually means they merge with another credit union. Regardless of what happens, members are protected through the NCUA insurance. NCUA says if a federally insured credit union does fail, members typically receive payments for their deposits within three days.

What about financial literacy—can a credit union teach me how to make smart money decisions? Credit unions pride themselves on being a top source for financial information. Many offer seminars and information on topics such as preventing identity theft and managing credit cards. More information on any of these topics can be found at the NCUA website or by contacting your local credit union.

Shaky Markets have left some Institutions in turmoil while NH Credit Unions continue to prosper.

2008-10-16T17:55:00Z

“We’re in the middle of a very dark tunnel,” said Brian Fabbri of BNP Paribas, as quoted in the Wall Street Journal article: Economists Expect Crisis to Deepen.

It’s been a whirlwind the past couple of weeks for consumers: First the collapse of Lehman Brothers, followed by AIG (American International Group), and ending with possibly one of the worst weeks in the stock market since 2004. After President Bush’s speech to the nation Sept 24, 2008, leading into a Congressional debate about the $700 Billion Bailout, the stock market slowly regained composure. As quickly as the first billion- dollar bailout was vetoed, the stock market dropped by 500 points.

With the stock market playing Russian Roulette with investors’ money, you may be thinking about hiding what little money you have left in a hollowed -out mattress.

For some, a hollowed- out mattress may be a step in the right direction. But for most, it’s an unrealistic idea. While the Credit Crunch bears down on NH, consumers are tightening their budgets, searching for the best deals and taking a second look at their financing options.

With creative financing on home loans mostly behind us, realtors are leaving the task of securing financing to the buyer. If a consumer is in the market to purchase or refinance a home, where does one go these days?

New Hampshire’s credit unions are rapidly growing and continue to produce consumer loans daily. Although the credit crunch is close to home, loans are still available. Home Loan rates are highly competitive even compared to larger lenders. And, with most NH credit unions your mortgage portfolio will not be sold. Also:

Most credit unions did not participate in the Sub-Prime Mortgage craze.
Credit Unions cannot invest in the Stock Market and Federal CU’s cannot invest in Corporate bonds.
Credit Unions are owned by the members (share holders), meaning that the income earned is given back to
members through higher dividend rates and lower interest rates on loans.
As an added bonus, the NCUA (National Credit Union Administration) has increased Share Deposit Insurance
to $250,000.00 per individual through December 31, 2009.

Credit Unions in the News

2008-10-13T19:26:01Z

Credit Unions have been getting a lot of great press lately. Check out these links to stories that have appeared online and in the Wall Street Journal and The Boston Globe.

This story by Brett Arends first appeared in the Wall Street Journal on Aug. 26
http://blogs.wsj.com/roi/2008/08/26/for-better-banking-check-out-a-credit-union/trackback/

This Associated Press Story appeared in the Boston Globe on October 9
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20081008&id=8994598

Celebrate International Credit Union Day

2008-10-08T14:49:00Z

Join credit unions around the world as we celebrate “My Credit Union: It belongs to meTM” on International Credit Union Day, Thursday, October 16th.

Do you know who owns your credit union? YOU do! And that’s just one of the many things that make credit unions unique and one of the membership benefits we’ll recognize as we celebrate International Credit Union Day.

Credit Unions are not-for-profit, democratically controlled, volunteer-run, member-owned cooperatives. We exist to serve our members. Unlike most other financial institutions, credit unions do not pay dividends to outside stock-holders. Instead, earnings are returned to our members in the form of lower loan rates, higher dividends on deposits and lower fees.

At credit unions, every customer is a member and an owner. This year’s International Credit Union Day theme, It belongs to me - celebrates the economic democracy and equal ownership rights of each credit union member regardless of how much money that member may have in savings. Many credit unions will be celebrating the day with special events, refreshments, and/or gifts. Please join your credit union on October 16th as we honor our most valuable asset: our members. You are the reason your credit union exists.

Bill increases NCUA Coverage to $250,000

2008-10-03T16:46:00Z

Deposits in the federally insured credit unions will now be covered up to $250,000 following the passage of the Emergency Economic Stabilization Act of 2008 by the House of Representatives today. The National Credit Union Administration oversees the NCUA federal insurance fund that provides consumers with exactly the same deposit insurance coverage that banks get from FDIC.

The legislation (the “Emergency Economic Stabilization Act of 2008”) increases federal savings insurance coverage from $100,000 to $250,000. The increase is temporary, taking effect from the date of enactment of the legislation until Dec. 31, 2009. The temporary increase will mean that consumers with larger deposits in both credit unions and banks can rest assured that their nest eggs are protected by the full faith and credit of the United States Government.

Credit Unions are an Island of Calm in a Sea of Financial Turmoil

2008-09-30T13:10:00Z

The news about the economy, financial markets and the surrounding politics are enough to make your head spin.

There is some good news though. New Hampshire credit unions are safe, financially strong and well positioned to provide the same high quality financial services that they have for the past 100 years.

Why are credit unions in a different position than so many other financial services providers?

First and foremost credit unions concentrate their investments in loans to members. So instead of putting money in new, strange and risky derivitaves we were making good, fairly priced home, auto and personal loans to people who are part of our credit union community. We are member owned so there is an absolute commitment to safeguarding your deposits. Second New Hampshire credit unions are very carefully regulated by New Hampshire Banking Department or the National Credit Union Administration. In addition credit union deposits are insured by the National Credit Union Administration which guarantees deposits up to $100,000 (members can get additional coverage for joint and retirement accounts). This coverage is identical to that offered by the FDIC to bank customers and is also backed by the full faith and credit of the United States Government.

No insured savings has ever been lost by a member of a federally insured credit union

2008-09-25T15:38:00Z

Not one penny of insured savings has ever been lost by a member of a federally insured credit union—Source: NCUA Publication 8046, November 2006

This fact should mean a great deal to Triangle Credit Union (TCU) members because when it comes to your money, safety and soundness of our financial institution matter. Member shares at TCU are insured by the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States Government. Share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC). Credit Unions that are insured by the NCUSIF must display in their offices the official National Credit Union Administration’s (NCUA) insurance sign and no credit union may terminate its federal insurance without first notifying its members.

The federal insurance fund has several programs to help insured credit unions that may be experiencing problems—liquidation or failures are a last resort. If a federally insured credit union does fail, however, NCUSIF will make any necessary payouts to the credit union’s members. These payouts are usually done within 3 days from the time the credit union closes its doors. As a member of an insured credit union, you do not pay directly for your share insurance protection—Triangle takes care of the insurance expense on your behalf.

There are some commonly asked questions regarding the general rules and limitations that apply to insurance deposits, which are:

- Insurance is separate with each insured credit union; however, a “branch” office of a credit union is still part of the insured credit union.
- All accounts with the same credit union, owed by the same owners in the same “ownership” category, are treated as one account for the insurance limits. This means that opening a number of accounts with the same credit union will not, by itself, increase share insurance. The “ownership” of the accounts must also be different.
- Federally insured credit unions are insured up to the Standard Maximum Share Insurance Amount (SMSIA), which is $100,000 as of April 1, 2006—per
account ownership.
- Individual retirement accounts (IRAs), as qualified under Section 408(a) of the Internal Revenue Code, are separately insured up to $250,000 for the owner of the IRA.

For additional information and account rules, pick up the NCUA brochures at your local and convenient TCU branch or request copies by .

The Credit Union Difference Defined

2008-09-24T19:19:00Z

Many people do not see a distinction between these very different types of institutions and that is a shame. Because, while you can get many of the same financial products from a variety of providers, their fundamental approach to doing business may eventually have an impact on how well you sleep at night.

Credit unions are not-for-profit democratically controlled financial cooperatives. Here is what that simple definition means to you..

To begin with, credit unions are not-for-profit. This simple phrase distinguishes the credit union as a business that exists for a purpose other than enriching its owners. The purpose of the credit union is to provide high-quality, low-cost financial services. On the other hand the purpose of a for-profit institution is quite simply to generate a profit and if they provide good products and services while doing so that is an added benefit.

Because credit unions are not-for-profit they can and usually do offer the consumer lower rates on loans, higher rates on savings, and fewer and smaller fees on accounts. Revenue that would be handed to third-party owners as a corporate profit is instead returned to the members by improving product, price, and service.

Perhaps the least widely known or understood part of this credit definition is the idea of democratic control. The notion that a consumer has the opportunity to voice equal control over the future of his or her financial institution is outside the experience of most consumers. While democratic control might not be fully appreciated but it is what ensures that the credit union will be run for the benefit of all its members.

Democratic control makes the credit union a part of the communities it serves rather than an engine of profit seeking markets where it can reap maximum revenue. Individual credit union members who determine the future of the credit union have no better use for the capital that the institution controls than to continue the credit union’s mission of service to the community. The stockholders who own the bank are always on the look out for a way to make the bank more profitable, including merging or selling out of a market.

The last of the three core components of the definition is the idea of the credit union as a financial cooperative. A cooperative business is one which is established to benefit all of its members/owners. This notion of a financial business as a shared resource that brings value to all of its members has been with the credit union movement since its inception and it clearly separates credit unions from all other financial businesses.

Credit unions are the most successful and widespread of cooperative business in the United States. This form of ownership provides a useful, in fact an essential, check on the conglomerates that are exercising increasing control over retail commerce. Businesses that are run by and for the people who use them set pricing and service benchmarks that benefit all consumers.

New Hampshire credit union television spots

2008-09-11T13:24:43Z

The New Hampshire Credit Union League Credit Union Owners

The New Hampshire Credit Union League Healthy Money

The New Hampshire Credit Union League Bag of Money television spot ran on WMUR Channel 9 and New Hampshire Public Television from September 2007 to 2008.

The New Hampshire Credit Union League CEO television spot ran on WMUR Channel 9 and New Hampshire Public Television from September 2007 to 2008.

NEW HAMPSHIRE CREDIT UNION LEAGUE HOSTS MAKE-A-WISH NIGHT AT NEW HAMPSHIRE FISHER CATS GAME

2008-09-10T10:46:00Z

The New Hampshire Credit Union League (NHCUL) hosted the inaugural New Hampshire Credit Union/Make-A-Wish Night at the New Hampshire Fisher Cats (Double-A affiliate/NY Giants) vs. Connecticut Defenders (Double-A affiliate/NY Yankees) baseball game on Saturday, August 2, 2008. More than 4,500 spectators attended the game, including 400 New Hampshire credit union employees, friends and family members.

“I am pleased to announce that more than $1,600 was raised for Make-A-Wish Foundation® of New Hampshire (Make-A-Wish) at the Fisher Cats vs. Connecticut Defenders baseball game,” stated NHCUL President and Social Responsibility Committee Chairman, John R. Young. “Representatives from two New Hampshire credit unions volunteered their time to work a concession stand and sell 50/50 raffle tickets to raise funds for Make-A-Wish. A portion of the game’s ticket sales were also donated to Make-A-Wish,” added Young. “Fundraising events, such as the Fisher Cats game, are just one of the many fundraising events the NHCUL conducts annually for Make-A-Wish. For the NHCUL to reach its’ 2009 fundraising goal of $150,000 for Make-A-Wish, events such as the NH Fisher Cats games are essential,” added Young.

The highlight of the evening was the first pitch, repeated five times, by five children involved with Make-A-Wish. These five children had the opportunity to meet members of the Fisher Cats, receive autographs and sing the National Anthem with the team on the field. Julie P. Baron, CEO of the Make-A-Wish Foundation® of New Hampshire, an organization that strives to grant wishes of children with life-threatening medical conditions, thanked the NHCUL for their contribution. “Seeing the smiling faces really speaks volumes for the joy this evening was able to bring to these Wish Children. Hearing Wish Child Steph, tell the story of how throwing out the first pitch helped her gain the strength to accomplish something she never thought she would do is truly inspirational. Our Wish Dad Ken, commented on how both his children now have a lasting memory to share at Show and Tell this school year, along with their autographed NH Fisher Cats baseball! The NHCUL truly helps enrich the human experience with hope, strength, and joy throughout the year, we can not thank them enough for their gracious contributions,” stated Baron.

New Hampshire Credit Union Leagues is a trade group representing New Hampshire’s 26 consumer owned credit unions. Credit unions are not-for-profit financial cooperatives and offer a variety of consumer financial services to over 403,000 New Hampshire residents and more than 85 million Americans.

New Hampshire credit unions reach one million dollar fundraising goal for Make-a-wish

2008-08-22T14:48:00Z

The New Hampshire Credit Union League’s 8th annual Richard D. Mahoney Credit Union Charity Golf Tournament held on June 19th 2008, at Canterbury Woods Country Club, raised $70,000 for the Make-A-Wish Foundation of New Hampshire. The success of this event—coupled with eleven years of dedicated philanthropic fundraising by NHCUL’s 26 credit unions—brings the total raised for Make-A-Wish to $1,053,000.

The success of the Richard D. Mahoney Credit Union Charity Golf Tournament and the NHCUL’s overall support of Make-A-Wish have grown over the past eight to twelve years respectively. “This year alone we had more than 130 golfers, 20 volunteers, and five consistent corporate sponsors—TRICORP Federal Credit Union, SYNERGENT, CUNA Mutual Group, Fiserv Summit, Equifax—that allowed us to exceed our goal. Our total fundraising goal for NH’s Make-A-Wish this year was $140,000. I am pleased to announce that we exceeded our goal by $10,000,” said John R. Young, Social Responsibility Committee Chairman and newly elected NHCUL Board Chairman. “The golf tournament assists us in reaching half of our annual goal. Throughout the year credit unions participate in fundraising events ranging from candy bar sales to hockey games to raise additional funds,” added Young.

“Raising more than one million dollars over the past twelve years was a significant milestone for NHCUL and I attribute this to our credit unions, employees, corporate donors and the more than 403,000 credit union members here in New Hampshire. Anyone who has been involved with Make-A-Wish knows how important this organization is to the well being of the children and families they serve,” said Young.

Julie P. Baron, CEO of the Make-A-Wish Foundation of New Hampshire, an organization that strives to grant wishes of children with life-threatening medical conditions, praised the NHCUL for their contributions. “It is the sheer joy of a wish that is the most powerful medicine of all. Our partners; the credit unions across New Hampshire have made that possible. Thanks a million.” said Baron. The contributions made by NHCUL to Make-A-Wish represent the largest corporate donation to date, according to Baron.

Michael L’Ecuyer elected Vice-Chairman for New Hampshire Credit Union League

2008-07-29T10:35:00Z

A resident of Bedford, New Hampshire, L’Ecuyer received a B.A. degree from Elon University and an MBA from Southern New Hampshire University. L’Ecuyer serves as a director of America’s Credit Union Museum and Vice Chairman of the Palace Theatre Trust, both in Manchester. and New England Automated Clearing House, located in Burlington, MA. Since 2003, L’Ecuyer has served as Vice Chairman of the Palace Theatre Trust in Manchester and is also serving as Chair-Elect of the 900-member Manchester Chamber of Commerce.

New Hampshire Credit Union League (NHCUL) is a trade group representing New Hampshire’s 26 consumer-owned credit unions. Credit unions are not-for-profit financial cooperatives that offer a variety of consumer financial services to over 403,000 New Hampshire residents and more than 85 million Americans.

Gerald Dumoulin elected to the Board of Directors for New Hampshire Credit Union League

2008-07-25T10:21:01Z

At the 54th annual meeting of the New Hampshire Credit Union League (NHCUL) held at the Mt. Washington Resort on June 7, 2008, Gerald Dumoulin was elected to serve on NHCUL’s Board of Directors. Dumoulin has served as NHCUL’S Northern Chapter President for the past six years, as well on the Convention, and Federal and State Legislative Activities Committees.

“I’m honored to serve on the NHCUL Board of Directors and look forward to serving the needs of all credit unions in New Hampshire. This is an exciting time for credit unions throughout New Hampshire. This past year New Hampshire credit unions have met or surpassed several significant goals,” said Dumoulin. “The NHCUL’s Community Outreach program, which
in 2003 established a goal of providing $35 million dollars to New Hampshire’s low-and-moderate income families over five years, allocated more than $70 million within four years,” added Dumoulin.

For the past 34 years, Dumoulin has been affiliated with Berlin-based Guardian Angel Credit Union (GACU) and has served as CEO of GACU for the past 22 years. During his tenure as CEO, institutional assets at GACU have grown from $10.4 million to more than $41.6 million.

A life-long resident of Berlin, Dumoulin received a B.S. degree in Business Administration from the University of New Hampshire. Dumoulin also serves on Berlin’s Industrial Development Board and was elected to serve as the city’s treasurer in 2006.

John R. Young elected Chairman of the Board of Directors for New Hampshire Credit Union League

2008-07-18T10:25:00Z

At the 54th annual meeting of the New Hampshire Credit Union League (NHCUL) held at the Mt. Washington Resort on June 7, 2008, John R. Young was chosen as Chairman of the Board of Directors. A member of NHCUL’s Board of Directors for nine years, Young most recently served as Vice Chairman of NHCUL’s Board of Directors, as well on the Social Responsibility, and Federal and State Legislative Activities Committees.

“It’s an honor to be selected to serve as Chairman of the Board of Directors for NHCUL. This is an exciting time for credit unions throughout New Hampshire. This year marks the 100th anniversary of the nation’s credit union movement, which originated right here in New Hampshire. More than 403,000 New Hampshire residents and 85 million Americans are utilizing a variety of financial services offered by credit unions, and collectively, our credit unions in New Hampshire have met or surpassed several significant goals,” said Young. “The NHCUL’s Community Outreach program, which in 2003 established a five year goal of providing $35 million to New Hampshire’s low-and-moderate income families, doubled that goal and allocated $70 million. In addition, $1,053,000 was raised by New Hampshire’s 26 credit unions for the Make-A-Wish Foundation® of New Hampshire,” added Young.

For the past eighteen years, Young has been affiliated with New Hampshire Federal Credit Union (NHFCU) and has served as President/CEO of NHFCU for the past fourteen years. During his tenure as President/CEO, institutional assets at NHFCU have grown from $60 million to more than $220 million.

A resident of Concord, Young received both an MBA degree and Advanced Certificate in Finance from Southern New Hampshire University. Young also serves on several corporate committees including the Supervisory Committee of the Massachusetts based corporate credit union, EasCorp, and the Outside Nominating Committee of Northeast Delta Dental.