2008
Awards Program
Louise Herring Award for Philosophy in
Action
The
Louise Herring Award for Philosophy in Action formally recognizes credit unions that
demonstrate in an extraordinary way the practical
application of credit union philosophy. Philosophy in action
is what distinguishes credit unions from other financial
service providers. Our philosophy and the way we put it into
practice are the heart of the credit union difference.
Sample Louise Herring Award
activities may include, but are not limited to:
· Services for
members with unique financial needs, such as savings clubs
for children or discounts for senior citizens, or other
extraordinary efforts to serve the membership.
· Counseling
for members facing financial difficulties.
· Educational
seminars for members on retirement planning, car buying,
budgeting or college financing.
· Efforts to
educate members on the credit union difference
Entry and deadline
information
To enter
CUNA’s recognition programs, complete the attached entry
forms and checklists, include a $40 entry fee for
each entry and send to:
MDDCCUA Awards, Maryland & District of Columbia Credit Union
Association
8975
Guilford Road, Suite 190, Columbia, MD 21046
The
Deadline for Entries to be submitted to the MDDCCUA
office is 5:00 p.m.,
Friday,
April 11, 2008. Award
winners will be notified at the end of April and invited to
an Awards Luncheon on Wednesday, May 28, 2008, in Columbia.
Winning entries will then be on display during MDDCCUA's 3rd
Convention in Ocean City and recognized in the Annual
Meeting Program on Saturday, June 14, 2008.
To
promote credit union philosophy by formally recognizing
credit unions that demonstrate, in an extraordinary way, the
practical application of that philosophy.
MDDCCUA
will select winners from each of the following categories:
·
Less
than $50 million
·
$50 -
$250 million
·
More
than $250 million
Submit only
one entry form, even if there are multiple projects. If a
credit union conducted multiple projects, they must pick
their most successful and/or unique project and complete the
entry form based on that one project.
Winners
receive awards from MDDCCUA, with the first place winner in
each category advancing to the national competition. CUNA
will select winners from each category and present the
awards at its Government Affairs Conference in February
2009.
Eligible Activities
Credit
unions could receive an award for programs or policies that
demonstrate their commitment to the practical application of
the "People-Helping-People" philosophy. Some examples of
eligible activities are:
1.
Provisions for the small saver or borrower.
2.
Member programs for youth, seniors, or other groups that are
often economically challenged.
3.
Internal programs or services that help to differentiate the
credit union from other financial service providers.
4.
Programs that do an extraordinary job of encouraging thrift
and provide a source of unbiased money management and
consumer information, which would be difficult or impossible
to obtain elsewhere.
5.
Evidence of an exceptional degree of service to members.
Credit
unions will submit to MDDCCUA a project binder or spiral
bound notebook, along with a completed entry form, a
completed checklist, and 2 years’ (current and previous year
– required) balance sheets and income statements
and/or NCUA’s Financial Performance Report (FPR). Support
materials for the project should be included in the binder
or notebook (electronic media is not encouraged).
Before
entries are judged, the financial statements are analyzed to
determine whether the credit union is operating in a safe
and sound manner. This criterion must be met in order for a
credit union's entry to be considered for the award.
In
addition to using the standardized scoring sheet, the
following should be taken into consideration.
1.
Is the credit union operating in a safe and sound
manner?
2.
Does the project demonstrate credit union philosophy?
3.
Did the credit union put its philosophy into action?
4.
Does the project go beyond what is normally expected
of a credit union?
5.
Did the project demonstrate the credit union's
commitment to educating its members about credit union
philosophy?
6.
Does the project demonstrate extraordinary and
exemplary efforts to serve the credit union's members on a
consistent basis?
7.
Does the project show the credit union's commitment
to the credit union operating principles of democratic
structure, service to members, and social goals?
8.
Were the measurable or defined results of the project
achieved?
In the
national competition, CUNA’s Awards Committee judges the
entries.
(Copy and Paste Word Document)
The Louise Herring Award for Philosophy in Action is given
to a credit union for its practical application of credit
union philosophy within the credit union. It is awarded for
extraordinary, internal programs that are focused on its
membership and create services that benefit its members.
This award is not for community service work that is
directed outside of a credit union’s membership.
Contact Person
Title
_________________________________________________
E-mail
address_________________________________________
Credit Union Name
Street Address
P.O. Box
City
State
Zip
Phone Number
_____________________
Fax Number
________________________
Asset size:
___ Less than $5 million
___ $5 ‑ $20 million
___ $20 ‑ $50 million ___ $50 ‑ $100 million
___ $100 - $200 million
___ $200 - $500 million
___ $500
million+ ___ Chapter/Multiple Credit Unions
Credit union’s field of
membership:
_________________________________________________ ___
Number of credit union
branches: _________
Number of credit union
members: _________
Number of credit union
employees: ________
Number of credit union
employees responsible for implementing
the project: _________
Please include significant
promotional materials, descriptions and photos of
project/event with your entry form
?
Entry Fee ($40 for each entry)
?
Submit materials in a three-ring binder or spiral bound
notebook
?
Electronic media is not encouraged
Answer the following
questions (use additional paper if necessary):
3. How did your project
help your members?
4. Describe how your
credit union implemented the project (i.e., explain the
process).
5. How does the project
differ from day-to-day operations? How could it be used
throughout the credit union system?
6. Explain how members
were educated about the project/process and how itshowed
true credit union philosophy.
7. How is this project
going to be used to serve the credit union’s members on a
consistent basis?
8. How does the project
show the credit union's commitment to the credit union
principles of democratic structure, service to members,
on-going financial education and social goals?
9. Please describe the
measurable or defined results the project achieved.
