In this week’s New York Minute, we’re bringing you the latest industry updates. We’ve got a call to action for credit union advocates, registration info on this year’s TruStage Golf Tournament, exciting announcements for FourLeaf FCU staff, and more. Get weekly news on the New York credit union industry in the New York Minute!
Tell Your Representatives: Don’t Tax My Credit Union
Credit unions play a vital role in providing affordable financial services to millions of Americans, but their tax-exempt status is under scrutiny. A recent study commissioned by America’s Credit Unions found that taxing credit unions would have devastating consequences, including $33 billion in lost income tax revenue for the federal government, a $266 billion reduction in GDP, and more than 822,000 jobs lost over the next decade.
That’s why we took this message directly to Capitol Hill during our recent advocacy efforts in Washington, D.C. But our work isn’t done—we need YOUR help to keep the momentum going!
Here’s what you can do:
- Sending a message to your legislative representatives is quick and easy. A pre-written letter has been prepared for you—just follow the link below to make your voice heard.
- Take action now! Encourage your colleagues, staff, and volunteers to do the same. Together, we can ensure that credit unions remain strong, accessible, and tax-exempt!
- Participate in Project Zip Code–To further reinforce the power of credit unions and the members you serve, running Project Zip Code at least annually shows lawmakers how many of their constituents you serve. That local impact means a lot to elected officials when it comes to policy making.
Help us make an impact! Learn more and view available resources below.
Save Your Spot on the Green: TruStage Golf Tournament
Get ready to hit the greens at EXCEL 25’s TruStage Golf Tournament—one of the most anticipated events of our annual convention! Taking place at the stunning Sagamore Golf Club on Thursday, June 12, this tournament isn’t just about great golf—it’s about supporting the New York Credit Union Foundation while kicking off an action-packed weekend.
Event Details:
Location: Sagamore Golf Club, Bolton Landing, NY
Price: $250 per golfer–includes cart, lunch, mulligans, buy-a-drive, and putting contest.
Registration Deadline: May 23
Your participation makes a difference! Don’t miss this opportunity to network and show off your skills while benefiting the credit union movement. Learn more, register, and explore sponsorship opportunities below!
FourLeaf FCU Employees Selected for Filene’s i3 Wave 21
Congratulations to Zamarr Allen and Jessica Watson of FourLeaf FCU, who have been selected as part of Filene’s i3 Wave 21! This exclusive two-year innovation leadership program is designed to cultivate forward-thinking changemakers in the credit union industry.
Through real-world projects, cutting-edge research insights, and an unmatched network of industry peers and mentors, i3 participants gain the tools to drive meaningful change within their organizations. This year’s cohort will work on transformative solutions in areas like engaging Gen Z in financial services, harnessing AI to improve member experiences, enhancing financial wellness tools, and rethinking member growth strategies.
Being selected for i3 is an incredible honor, and we know Zamarr and Jessica will bring fresh ideas and innovation back to FourLeaf FCU and the New York credit union movement. Learn more and see the full list of professionals selected for this year’s cohort below.
Hudson Valley Credit Union Launches the HVCU Charitable Foundation
Hudson Valley Credit Union (HVCU) is strengthening its commitment to the community with the launch of the HVCU Charitable Foundation—a new initiative designed to support local nonprofits that provide critical services in education, food, health, and housing.
As an official 501(c)(3) organization, the HVCU Charitable Foundation will award annual grants to nonprofit organizations working to create meaningful change in the Hudson Valley region. To jumpstart this effort, HVCU’s Board of Directors has authorized a $3 million endowment to establish a strong foundation for long-term impact.
To learn more about the HVCU Charitable Foundation and its 2025 Grant Program, click below!
New From TruStage: This Group Surprisingly Wants Life Insurance
A new study reveals that 39% of consumers plan to purchase life insurance in the next 12 months, and a high percentage of those people could be, surprisingly, Gen Z.
TruStage spoke with CUToday.info about this growing non-interest income opportunity for credit unions, but added Gen Z will need a little push from cooperatives to secure this business.
Citing data from a 2024 LIMRA survey, Samantha Ziesemer, director of digital storefront product management at TruStage, said it’s a great time for Gen Z to consider life insurance, due to locking in a premium at a lower rate,
“This is a good opportunity for Gen Z, but, unfortunately, Gen Z may not be understanding this,” Ziesemer said. “An insurance trade association survey in 2023 showed a surprisingly high number of Gen Z respondents that said they were interested in buying life insurance, and were planning to buy it in the next five years. But when asked a follow-up question—‘Why haven’t you?’—37% responded they just haven’t gotten around to it. That’s the problem.”
Ziesemer said the issue for credit unions is how do they position their life insurance offering in a way that is engaging with Gen Z, and so they better understand the different life insurance products available and consider taking the next step.
“We were surprised by the number of Gen Z who responded they were planning to purchase life insurance,” acknowledged Ziesemer. “When we think of younger demographics, there’s kind of an oversimplification. We think, well, they’re not thinking about their own mortality or legacy planning. This isn’t going to be top of mind. But now we know it is.”
What is driving greater interest among Gen Z in purchasing life insurance over the last two years, Ziesemer said, is growing economic insecurity.
Top-Of-Mind Interest
“And it is reaching all the way down the younger demographics, all the way down to Gen Z,” she said. “So, it’s not just the older generations that are feeling this insecurity around their economic status. That’s what’s driving a lot of this top-of-mind interest in life insurance among Gen Z.”
TruStage is working with its credit union partners to help them understand that talking to Gen Z about life insurance through typical advertising channels, such as direct mail, is not the only answer.
“Credit unions need to meet their Gen Z members where they’re at,” she said. “If you think about it, the vast majority of Gen Z are interacting with their credit union digitally, either through their mobile app or through their online banking platform. So, how do we position products that are going to resonate with Gen Z? How do we position that product in a way that it is visible and understood by Gen Z and encourages them to take that next step?”
That means interacting with them when they accomplish daily tasks, like checking account balances, transferring money or making a bill payment, Ziesemer said.
“It’s taking those opportunities and positioning life insurance products, at that point of engagement,” she reiterated.
Ziesemer said TruStage offers a solution that personalizes offers and services to credit union members.
“So, it’s front and center when they’re logging into their home banking. Life insurance is one of those offers that we promote,” she said. “Gen Z is in a prime position to get life insurance today. It’s really important now to try to educate them, to say, hey, before you have obligations in the future—kids, spouses, partners that you are looking to protect with a life insurance policy—now is the time to consider it. Do it while you’re younger and get a better quote coming back.
“We think about life insurance as something you consider once you have those obligations,” continued Ziesemer. “But Gen Z has a prime opportunity to lock in a rate since they are younger, before they get all those obligations. Economically, it makes much more sense.” But added Gen Z will need a little push from cooperatives to secure this business.
TruStageTM is the marketing name for TruStage Financial Group, Inc. its subsidiaries and affiliates. Corporate headquarters are located in Madison, Wis.
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