Louise Herring Philosophy in Action Award

About the Louise Herring Award

The award is given to a credit union for its practical application of credit union philosophy within the actual operation of the credit union.  It is awarded for internal programs and services that benefit membership. Our philosophy and the way we put it into practice is the heart of the credit union difference.

Credit unions compete with others in their asset category for the Louise Herring Award. State level winners are recognized annually during the Chairman's Awards Banquet at Convention. First-place winners are forwarded to CUNA for the national competition.​

Eligible Activities
Credit unions could receive the award for programs or policies that demonstrate their commitment to the practical application of the "People-Helping-People" philosophy. Examples Include:

  • Provisions for the small saver or borrower
  • Member programs for groups that are often economically challenged
  • Internal programs or services that help to differentiate the credit union from other financial services' providers
  • 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.
  • Evidence of an exceptional degree of service to members​

2018 ​statewide winners were recognized at the League Convention, and they were featured in this video​.​​

Who was Louise Herring?

1909-1987

Louise Herring was the embodiment of credit union philosophy. Dubbed "the Mother of Credit Unions" by the Ohio General Assembly, Louise was involved in starting nearly five hundred credit unions.

Louise maintained a philosophical ideal she was unwilling to compromise. She was an outspoken advocate for women, minorities, the poor and near-poor.

She strongly believed that the role of the credit union was to provide a means to achieve economic justice for all. At the time of her death, she was enthusiastically involved in the Over the Rhine project, a Greater Cincinnati effort to provide opportunities, including low-cost financial services, to a severely depressed area.

​2018 Winners

ASSET CATEGORY: $50-250 million
1st Place: Harvester FCU
No Credit Check Holiday Loan
Harvester Financial FCU’s No Credit Check Holiday Loan was offered to members to provide them funds around the holidays. The credit union offered an affordable rate and members were able to borrow up to $1,200. For 2017, they had 179 No Credit Check Holiday loans totaling $188,919 and they were able to help significantly more people, who may have struggled to provide for their families at holiday time. Through this loan program, members get a second chance even if their credit isn’t where they would like it to be.

ASSET CATEGORY: $250 million - $1 billion
1st Place: Financial Center First CU
Partnership with the Consul de Mexico of Indiana
The partnership between Financial Center First CU and the Consul de Mexico of Indiana allows the credit union to expose over 40,000 Mexican immigrants annually to the U.S banking system and the benefits of banking with a credit union. Each week, Financial Center provides seminars to roughly 60 immigrants from Indiana, Ohio, Kentucky, and Southern Illinois on understanding and navigating the U.S. banking system.

2017 Winners

ASSET CATEGORY: Less than $50 million
1st place: Financial Health FCU
Financial Wellness Scorecard
 
ASSET CATEGORY: $50-$250 million
1st place: Afena FCU
Afena FCU Debt Consolidation Program
 
ASSET CATEGORY: $250 million - $1 billion
1st place: Financial Center FCU
International Advisory Council
 
2nd place: Crane CU
Executive Leadership Series
 
Honorable Mention: Via CU
80 Reasons/Random Kindness
 
ASSET CATEGORY: $1 billion or more
1st place: FORUM CU
FORUM Advisory Council

2016 Winners

ASSET CATEGORY: $50-250 million
1st Place: Afena FCU
Afena FCU Debt Consolidation Program
 
ASSET CATEGORY: $250 million - $1 billion
1st Place: Heritage FCU
HFCU Financial Counseling & Assistance for Layed-off Alcoa Workers
 
2nd Place: Financial Center First CU
Back to Basics
 

2015 Winners

ASSET SIZE: Less than $50 million
1st Place: Financial Health FCU
Drive Toward Financial Health
 
ASSET SIZE: $250 million-1 billion
1st Place: Financial Center First FCU
Empower Launch
 
2nd Place: Heritage FCU
Data Breach Member Education & Awareness Campaign
 

2014 Winners

ASSET SIZE: Less than $50 million

1st Place: Financial Health FCU
 
ASSET SIZE: $50-100 million
1st Place: General CU
Loot for Lucas Children's Club
 
ASSET SIZE: $250 million-1 billion
1st Place: Financial Center FCU
Establishment of Three Plllars
 
2nd Place: Financial Center Purdue FCU
My Member Perks
 
Honorable Mention: FORUM CU
Save It Up

2013 Winner

ASSET SIZE: $250 million-1 billion
1st Place: Finance Center FCU
Indiana Latino Expo

2012 Winners

ASSET SIZE: $250 million-1 billion
1st Place: Finance Center FCU
Latino Advisory Committee

ASSET SIZE: $1 billion+
1st Place: Indiana Members CU
IPS #44 Outreach

2011 Winners

ASSET SIZE: $50-250 MILLION
1st Place: AAA FCU
Fresh Start

ASSET SIZE: $250 MILLION-1 BILLION
1st Place: FORUM CU
2010 SaveItUp Challenge program

2nd Place: Purdue FCU
Piggy Bank Challenge

Honorable Mention: Finance Center FCU
Annual Membership Appreciate Day

Honorable Mention: Heritage FCU
Seriously Different

ASSET SIZE: $1 BILLION OR MORE
1st Place: Indiana Members CU
Project 43 School Uniforms

2010 Winners

Asset Category: $50-250 million
First Place: Indiana State University FCU
When the little things in life provide the opportunity to CU Smile

Second Place: Industrial FCU
Going above and beyond the expected to deliver a WOW experience to every member

Asset Category: $250 million+
First Place: FORUM CU
SaveItUp Challenge 2009 participants saved $25,050 and reduced collective debt by $120,850

Second Place: Purdue Employees FCU
Timely teamwork response to members results in free, easier and more reliable member service

Honorable Mention: Finance Center FCU
It’s” take me out to the old ballgame” when membership retention is a key credit union priority

2009 Winners

Asset Category: $250 million+
First Place: Centra Credit Union
Taking the lead, meeting needs: Centra CU Provides a Helping Hand

Second Place: FORUM Credit Union
Transforming concern to action: FORUM CU says We Can Help

Honorable Mention: Finance Center Federal Credit Union
Helping members earn higher rates: Reward Checking from Finance Center FCU

Honorable Mention: Teachers Credit Union
Making a bear market bear.able: Bear Essentials Teachers CU

Asset Category: $50-$250 million
First Place: Partners 1st Federal Credit Union
Understanding and Improving your FICO® score: Partners 1st FCU FICO® Training

Second Place: First Trust Credit Union
First Trust FCU, Wage Reduction & Bankruptcy Relief Plan

2008 Winners

ASSET CATEGORY: $50 – 250 MILLION
First Place: REGIONAL Federal Credit Union
Financial Education: Student Credit Union Branches

Honorable Mention: Fire Police City County Federal Credit Union
Burmese Outreach Program

Honorable Mention: Chiphone Federal Credit Union
Banking in Pajamas: Free Online Bill Payment

Honorable Mention: Indiana State University FCU
Focus Groups

ASSET CATEGORY: OVER $250 MILLION
First Place: Purdue Employees Federal Credit Union
Financial Literacy Outreach

Second Place: Interra CU
Financial Fitness Seminar Series

Second Place: Finance Center Federal Credit Union
The BillPayer Contest

2007 Winners

ASSET CATEGORY: $50 to $250 MILLION
First Place: Regional Federal Credit Union
Setting Goals and Establishing the Groundwork for Good Money Habits

Second Place: AAA Federal Credit Union
Building a Solid Relationship with Young Credit Union Members

Honorable Mention: Chiphone Federal Credit Union
Making Tax Filing Faster and Easier with an E-Filing Program

ASSET CATEGORY: $250+ MILLION
First Place: Teachers Credit Union
Preparing for a Rainy Day with the Creation of TCU Savers Club

Second Place: Finance Center Federal Credit Union (Financial Center)
Promoting Financial Literacy

2006 Winner

ASSET CATEGORY: OVER $100 MILLION
First Place: Finance Center FCU
Member Financial Literacy Training

2005 Winners

There were no entries in the Louise Herring competition in 2005.

2004 Winners

ASSET CATEGORY: MORE THAN $100 MILLION
First Place: Purdue EFCU
Deposit Day

Second place: Indiana Members CU
Make a Wish/Family FUN-Raiser

2003 Winners

ASSET CATEGORY: LESS THAN $100 MILLION
First Place: Sagamore Community FCU
Response to Bank Attack Advertising

ASSET CATEGORY: MORE THAN $100 MILLION
First Place: Purdue EFCU
Life Skills Program

Second Place: Elkhart County Farm Bureau CU
Financial Seminar Series

Honorable Mention: Professional FCU
Carroll R. Phillips Memorial Scholarship Fund