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OHIO CREDIT UNION LEAGUE

hio’s credit unions are celebrating 75 years of service this year. And the mission — of providing individuals, families, and entire communities with economic stability through the dignity of financial empowerment — remains the same as it was when credit unions were founded. This philosophy distinguishes Ohio’s 414 credit unions from other financial service providers and inspires loyalty from more than 2.6 million members. Credit unions are more than providers of financial products and services. To improve people’s lives through self-help and personal responsibility, they offer an array of real solutions: free financial education; special savings programs; short-term, low-interest loans; and one-on-one counseling. The Ohio Credit Union League is pleased to report how credit unions served their members and communities in 2008, and how they work every day to improve lives.

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2 of 3 every

Ohio credit unions provide free financial education in their communities.

More than 350 credit unions offer their communities no-cost opportunities to increase their financial savvy so they can eliminate debt and build wealth.

of Ohio’s credit unions either partner with or refer members to a community agency to improve other aspects of their lives.

74%

“We are a blue-collar credit union. Our members would have no [other] place to go for assistance.”
— Survey Participant

Ohio’s credit unions provide financial education to a spectrum of groups in their communities.

56.7%

44.8% 35.8%
Middle School Ages 11-13

Adult Members

High School Ages 14-18

36.6%

Elementary School Ages 6-10

29.9%
23.9%
Ethnic Groups

Adult NonMembers

20.9%

20.9%

Teaching personal financial responsibility has always been part of the mission of not-for-profit credit unions. Credit unions are stepping up their efforts as leaders in financial education and investing in brighter futures for all Ohioans.

60.4% 42.5% 41.8%

60.4%
Ohio’s credit unions offer financial education via one-on-one counseling, one of many approaches utilized.
27.6% 27.6% 12.7% 9.0% 9.0%

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6.7%

Early Ages 0-5

College Ages 19+

20.1%

Senior Citizens

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“We look for ways to provide financial education to schools, churches, after-school groups, and others because we feel it is imperative to raise the level of financial literacy among children, teens and adults. ” — Survey Participant

Ohio’s credit unions offer financial education programs to people in their communities on a wide variety of topics.

Budgeting for life on your own

57 .5%

47.8% Checking &
Savings 101

47% Identity
theft

45.5%
Credit concepts

37.3% Car
buying
funding

37.3%
Investing in your future
11.9%
Other

35.1%
Retirement/ investment

23.1% College

23.1% Money &
its sources

22.4%
of Ohio’s credit unions participate in a government-sponsored student loan program.

of Ohio’s credit unions participate in student loan programs for higher education.

61.8%

10.4%

Have their own credit union student loan program.

10.4%

Offer a program sponsored by a third party. other student 3% Offerprograms. loan

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Ohio’s credit unions offer unique programs for teens to help them transition into financially responsible adults.
Offer credit card programs for teens

32.1%

Programs credit unions use to teach financial education to youth.
41.8% Use a program they developed internally
6.7% Practical Money Skills

35.1% National Endowment for Financial Education (NEFE)

14.9% Junior Achievement 6.7% Thrive By Five

Offer auto loan programs for teens

28.4%

32.1% MoneyAndStuff.info

3.7%

Making the Right Moves

8.2% BALANCE Financial Fitness
4.5% BRASS Student

Offer other programs for teens

19.4% Other, developed externally

17 .9%

FDIC Money Smart

3.7% OSU

Extension

4.5%

Offer Biz Kid$™ entrepreneur loans for youth (0.7%)

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26.9% er
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of Ohio’s credit unions have incorporated the social mission of credit unions into their strategic planning processes.

67.4%

23.1% 22.4%

61.5%
of Ohio’s credit unions target specific segments of the population with products or services.

4.5% 3.7% 3.7% 3.0% 3.0% 2.2% 1.5%

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Going above and beyond – offering specialized services to unserved and underserved markets to make a positive difference in people’s lives.

Ohio’s credit unions offer a wide variety of financial products and services to help their 2.6 million members.
Emergency Loans Student Loans First-time home buyer mortgage program College scholarships Short-term payday alternative loans Teen credit card program StretchPay credit union salary advance
Mortgage program for low-income members

38.8% 33.6% 30.6% 29.1% 26.9% 20.9% 17.2% 6.7% 6.0% 3.7% 2.7% 1.5% 1.5%
Multi-lingual website Microenterprise loans Check cashing services for non-members

Non-specified mortgage program

Small Business Administration Loan

Auto loan program for low-income members Home loan payment relief program Mortgage program for underserved populations

Overseas wire transfers

11.9% 11.9% 11.2% 9.7% 9.7% 75% . 75% .

Free tax preparation service for low-income members

Individual Development Account Programs

Special loan programs for military families

The Credit Union Difference
Credit unions are not-for-profit, member-owned cooperatives distinguished by their: Purpose… to serve members Governance… volunteer directors elected by members Member benefits… earnings invested in members and the community Values… in people, not profits

OHIO CREDIT UNION LEAGUE
10 West Broad Street, Suite 1100, Columbus, Ohio 43215 Phone: (800) 486-2917 www.OhioCreditUnions.org