Issue link: http://www.insightdigital.biz/i/140775
"We see what kind of loan program we can tailor. Some members just need a month away (from payments) while some might need debt consolidating or restructuring. We will see where they are hurting the worst. The process may be gradual, we tell them to get this under control and then look at doing that. You have to start out little and get bigger and bigger to get something that will work for them." Sometimes, he adds, the hardest thing is finding common ground between what the member can do and what the credit union can accept. "If the debts are all with the credit union, we can usually put them into one loan because our exposure is already there," Mehlberg says. Capital refers people to FISC, a licensed credit counseling organization, as do the other credit unions, because the nonprofit offers financial advice and will help people consolidate their debts. "We know our community," adds Mehlberg, "and we want our The Wisconsin Department of Financial Institutions (DFI) says that the state's credit unions grew income by 7.6 percent in the first quarter of 2013 compared to 2012, while total assets grew to $24.1 billion, an increase of 3.3 percent over year-end 2012. community to do well. We have a vested interest more than a big box bank." New concept: financial advice by stages in life Fox Valley Credit Union offers Balance, a financial counseling program it subscribes to for members. For online users it provides information on financial literacy, credit, lending and other topics. It also provides unlimited phone support. "It's not cheap, but it's free to our members," says Lynn Hopfensperger, community development officer at the credit union. Prospera Credit Union in Appleton has recently launched the LIFEstage Personal Guidance program, which offers eight life stages from starting a career or for new couples to empty nesters, retirees and divorced or widowed. New parents are reminded they need wills. The credit union staff developed the program with more than a year of work. Sheila Schinke, Prospera's CEO, says the widowed and divorced tracks strike a chord with [continued] » Memberships Available Convenient Hours Open 7 Days: M-F 8am-10pm Sat 8am-6pm, Sun 10am-6pm Massage Envy Spa Lombardi 1241 Lombardi Access Rd. Green Bay, WI (920) 405-9200 MassageEnvy.com Massage Envy Spa Calumet 3201 E. Calumet St. Appleton, WI (920) 731-5300 * See clinic for details. Each clinic is a member of the Massage Envy Network of independently owned and operated franchises.©2013 Massage Envy Franchising, LLC. w w w. i n s i g h t o n b u s i n e s s . c o m J u l y 2 013 • Insight | 33