From CUNA.org ~ Indiana ignite initiative ready for CU adoption:
INDIANAPOLIS (12/2/08)–Indiana Credit Union League’s ignite initiative is making progress, and innovations begun at the start of the year by the ignite working group are ready to be implemented in credit unions, says the league.
Several Indiana credit unions have committed to offering the innovations, and working-group members are seeking additional credit unions to adopt them, the league said.
“To stay in touch with all that is happening with ignite, we have established a website, www.ignitecu.org,” said Doug True, league director and leadership team member, and senior vice president technovation at FORUM CU and president of FORUM Solutions.
The site serves as an information center for ignite projects and as a social networking site. The credit union community nationwide can join the network to keep up with the developments, True said.
One credit union that has adopted an ignite innovation is Lafayette-based Purdue Employees FCU, whose CEO Bob Falk, is a member of the ignite leadership team. Purdue is implementing DriveUp Savings, which allows borrowers to open a matching-rate savings account at the same time they close on their auto loan.
“This product has merit not just for our members, but for credit union members everywhere who need a little extra incentive to save money,” Falk said.
. . . In the DriveUp Savings product, members open a savings account, such as a certificate, at the same time they close their auto loan. The loan officer and member agree on a monthly contribution amount and through automated electronic transfers, the DriveUp Savings is funded at the same time the auto loan payment is made.
Is your CU ready to DriveUp Savings? Or, have you implemented it already? Contact us and let’s get the wheels rolling!
