Professional Development Grant Results Report Bridge Credit Union

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1 Professional Development Grant Results Report Bridge Credit Union Results/Outcomes 1. State the goals and objectives of the professional development experience (as stated in your grant proposal to OCUF) and indicate how they were achieved. Note objectives that were not fulfilled and the reasons why. One of the goals of this professional development experience was to learn how to elevate our members service experience and discover how to build stronger relationships and loyalty for life. This goal was achieved by learning about CSAs, or Credit Score Analysis. A CSA allows us to, in essence, give a member hope. We take the time to sit with them and find out just what are their dreams; what are their financial goals. We then are able to work towards that together by improving their credit score and setting a plan. Our members have already expressed sincere appreciation for just taking the time to educate them. It is a new personal side that we are now showing and we are feeling very fulfilled by doing so. We also set a goal to learn just how credit reports were calculated, learn how to better educate our members on improving their own credit reports, and discover how this leads to strengthening member relationships and increasing profitability and retention. This goal was achieved as well. We now break down just how easy it is to raise a credit score. We have found that our members really are motivated to better their credit and are aching for this knowledge. We show our members how to lower their interest rates, eliminate credit card debit and also how to protect themselves from predatory lending. These members are leaving with a new found appreciation for their credit union. They are determined to follow their specific plan and get that loan or mortgage when the time comes. We have no doubt that this loan will be with Bridge Credit Union, and their loyalty will become cemented.

2 2. Describe how you measured the success of the professional development experience. If possible, explain results in outcome-based terms. For example, what will change as a result of the professional development experience for your credit union members and/or the community? We measure success of this professional development by the feedback from our members. The following is an example of our training put into action by one of our employees: I recently hosted a Lunch and Learn covering our valuable information learned from Celeste s training. One member, who was extremely motived to better her credit score, inquired about meeting with me to see how she could achieve her dream, which was to own her own home. She was 42 years old and had never owned a credit card or ever taken out a loan. She knew she needed to improve her credit score, but didn t know where to start. I discovered that she had a 512 credit score and three collections on her account with a past due school loan. I discovered that she had a car with $ equity available in it, and called the member in. Two of her collection items were for medical items. We called the collection companies with an amount that we wanted to pay, offering.50 cents on the dollar for her items. They accepted and we paid $ of her $ that was due! They will remove it from her credit score in 45 days and send an agreement stating it has been paid in full. We then paid off her school loan of $ that was over 120 days past due. This gives her 100 points back on her score. I put $ of that $ she borrowed on a secured VISA I talked to her about, only using mainly for gas. She is planning on paying it off every month on time and in 12 months, she will get 50 points for having full capacity. Just like that, we have added a car loan (installment) and a credit card (revolving) to her credit report. I am happy to say that in just one short year, this member will be at a 722 credit score and will qualify to be a first time home buyer! She cried in my office and said she couldn t be more thankful for our help. She felt that opportunities like this were never given to people like her and she was so overjoyed. Needless to say, it was a wonderful day to be a Bridge Credit Union Employee! We also measure success by our Employer Groups acceptance to us conducting Lunch and Learns. To Date, 7 Employer Groups have already scheduled Lunch and Learns, all since the second week of February! Finally, since the 2 nd week of February, we have conducted 88 CSA s. That s 88 members personally counselled and helped.

3 List the long-term outcomes of the professional development experience. The long-term outcome of this professional development is to conduct regular, ongoing Lunch and Learns with our SEGs, explaining to our members how it really is possible to achieve their financial dreams. The Lunch and Learns have proved invaluable to getting the word out and getting CSAs scheduled. Once a member gets a personalized CSA from a Bridge Credit Union Employee, their appreciation is evident. We ve been told by our members that no one else does this for them. The hope we give them is invaluable. Testimonial (This section MUST be completed) Please provide a one paragraph testimonial about what this OCUF grant meant to you personally and to credit union members you serve. (This may be used in future OCUF marketing & promotional materials.) This grant has given Bridge Credit Union Employees powerful knowledge that is being shared with members and with our Employer Groups through education sessions. We have completed almost 10 educational sessions since the 2 nd week of February. We have gained new members at a response rate of 60-80% per class. In fact, one Employer Group has asked us to present in Los Angeles and Chicago. We have made inroads into prospective companies where we d previously met resistance. The OCUF grant gave us resources that will have a quantifiable impact to growth. But most importantly, the members are benefitting as evidenced in the following story: A member came in because he was having credit problems and money management issues. Using our custrategies training and Credit Scoring Analysis, we were able to save him $ PER MONTH by consolidating $206, of outstanding debt. To put this into perspective, he was paying out $ per month. He is now paying out $ per month. This comes out to $13, per year SAVED. With this savings, our member was able to provide Christmas to his family without the assistant of credit cards. Three short months later, he is now earning money off of the funds he is now able to comfortably save. He allowed us to assist him in protecting his credit, lowering his debit, raising his credit score, and protecting him against predatory lending, thereby connecting him to his financial dreams. I have no doubt that this member will tell anyone and everyone that will listen just how much he loves Bridge Credit Union and how we are here to help.

4 1980 W. Broad Street Mail Stop # 0000 Columbus, OH tel fax memberinfo@bridgecu.org How would you like to increase your credit score in the next 60 days to 1 year? Yes, I would love for Bridge to help me increase my credit score... Tell us about yourself... Full Name: Full Address: Date of Birth: Social Security Number: Account Number (if applicable): Tell us the best way to contact you... Cell Phone Number: Work Phone Number: Home Phone Number: Address: Tell us about you career... Employer: Job Title: Length of Employment: Annual Gross Income: OR Hourly Rate: # Hours/Week: By signing this form, you authorize Bridge Credit Union to check your account, credit, and/or employment history, and obtain reports from third parties, including credit reporting agencies to verify your eligibility for the accounts and services you request. Signature: Referred By: Date:

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