Since we talked last some exciting things have happened:
Adoption Loan Officially Launched
We officially launched our new loan product January 2nd. The finished product is $5,000-$40,000 line of credit with a two year pull and a monthly repayment amount of 1.5% of the balance – so up to a little over seven years of repayment is the maximum time frame for repayment. Families who repay a loan of $15,000 or more will receive a $500 “welcome child” gift, and families who repay a loan under $15,000 will receive a $250 gift. We contemplated a credit score based co-payment scale of 70%/80%/90% but in the end decided on allowing all borrowers up to 90% of financing.
We’ve also had some great conversations with credit unions across the country that are interested in using our adoption loan model at their credit union. It’s been a great opportunity to get to know some great leaders in credit unions of various sizes and demographics and a lot of fun.
We are excited to be featured in our largest local paper, and one the nations largest papers – the StarTribune. They will be running a large feature story on the adoption loan, our family story and the Next Top Credit Union Executive competition. The story will be featured on January 30th and will be the symbolic kick off of our adoption loan public relations campaign. To see the story please feel free to check out startribune.com on January 30th!
CUES CEO Institute I
I’m officially registered for the prestigious CUES CEO Institute in Philadelphia. The weeklong institute will take place in April and feature professors from the Wharton School of Management and executives from credit unions across the United States. Thanks to a generous scholarship I’m happy to be representing the NTCUE at this institute and can’t wait to report back on what an amazing experience it will be.
New Role at Firefly
The Next Top Credit Union Exec competition was a catalyst for professional growth and stretched me into a better professional and leader. That growth was recognized at Firefly Credit Union (where I’m a proud member and a proud employee) where I have stepped into a new role as the Community Engagement and Education Specialist where I will work on exciting new projects and find creative ways to engage our community.
Until next time!