A Message from our President/CEO:
With the cool nights and the leaves on the trees changing colors, we certainly know that autumn has arrived. As the year winds down and we head into the final stretch of 2013, I am pleased to share with you some recent developments at Connex Credit Union.
Continued Success, Growth and Service Enhancements
Throughout 2013, Connex continues to be strong with many factors exceeding our projected goals for the year. Through September, we have added almost 2,000 new members, and your continued support helps us to grow our relationships within our cooperative. As a result, we have added to both our loans and our deposit base, and despite a continuing difficult economy, our overall growth is on target. We are working hard for a very strong finish to the year, and want to be well positioned for a good start to 2014.
The opening of our Branford branch earlier in the year came with the introduction of Personal Teller Machines (PTMs). We recently conducted a survey among our members regarding the PTMs and the findings were a great help in advising us that:
- 82 percent of our members who have used a PTM agreed that the service was friendly,
- 85 percent of members who have used the PTMs agreed that a PTM was comparable to using a traditional teller, and
- 85 percent of members agreed that the PTM was preferable to a traditional teller experience.
In short, Connex members overwhelmingly like our PTMs, and in the near future, we will be looking for opportunities to employ additional PTM’s throughout our footprint, as well as evaluating them for extended business hours to service our members. Stay tuned for future announcements on these service enhancements.
Technology also plays a big role in helping our members and I am pleased to say that our mobile application is getting rave reviews. If you haven’t downloaded it yet, I encourage you to take advantage of this free tool that allows you to pay bills, check balances, deposit checks, transfer funds and more.
We also introduced Cathy Dempsey to our staff and our members; she is a dedicated resource for our members to assist them with their specific insurance needs. From auto insurance to homeowners insurance, and any other ancillary insurance products, she is there for you to answer your questions and provide you with guidance, and hopefully some savings to your budget. If you have an insurance need, please reach out to her.
Above and Beyond: Helping Our Members Achieve Their Financial Goals
I am proud to announce that each of our employees is participating in advocacy training that will help them help our members achieve financial success, however our members individually define it. The training program will be unfolded in multiple phases and will provide specific tools that enable our staff to better serve the financial needs of our members including: ways to consolidate debt, creating a budget and tracking expenditures, creating a savings plan for college, retirement or other event and so much more. I encourage you to share your financial goals with our qualified staff and let them help you build a plan to help you reach them.
We never lose sight of our core mission which is to “Improve the lives of our members – one member at a time”. This kind of member advocacy training fits in perfectly with our mission and will benefit your financial health.
I am also pleased to announce that we were recently named as the top financial institution by the City of New Haven in its 2013 Community Impact Report Card, a comprehensive survey that evaluated financial institutions and how they served the “underbanked” in New Haven. It was the first time we were invited to participate in the survey, and we were the only credit union amongst a broader list of banks in the area. While we certainly aren’t the largest institution in the area, it does tells us that we are recognized in the community as always striving to achieve our mission, focused and successful at providing value to our members, and also provides us guidance on how we still can improve given the resources we have.
Big Decisions in Washington: Don’t Tax My Credit Union
Lastly, I would like to bring to your attention some national dialogue that may affect credit unions and credit unions members collectively throughout the country.
To bring you up to date, certain banks and politicians are lobbying for laws to begin taxing credit unions despite the fact that credit unions are classified as not-for-profit. The argument being made in Washington D.C. is that the nation’s budget could be balanced if credit unions are taxed. You should be surprised by this news because credit unions hold only 6 percent of all financial assets nationwide – banks hold the rest. And let’s not forget that no credit union needed to be bailed out by the federal government. Tax exemption is critical to the health of credit unions and the benefits offered to members like you. There’s true power in numbers and if you can, please get involved and make your voice heard. Contact your state representatives; a great place to start is www.DontTaxMyCreditUnion.org to see how simple it is to help make a difference in supporting the future health of Connex Credit Union. Look for the easy link on our website as well.
Thank you, and I hope that you have a wonderful fall season and enjoy the upcoming holidays.
President & Chief Executive Officer