TopLine Federal CU Wins Philosophy in Action Award for Helping Members Save

MAPLE GROVE, MINN. — TopLine Federal Credit Union, a Twin Cities-based member-owned financial services cooperative, has been honored with a 2017 Louise Herring Philosophy-in-Action Member Service Award. The award, sponsored by the Minnesota Credit Union Network (MnCUN) and the Credit Union National Association (CUNA), recognizes credit unions that demonstrate the credit union philosophy, and who create services that benefit their members.

TopLine’s statewide award achievement was for the credit union’s development of a product to help jump start members ability to save, called Sum-It-Up Savings. The way the program works is simple: the member enrolls and uses the TopLine debit card that is tied to the TopLine checking account to pay for everyday purchases such as gas, groceries, dining, and the credit union will round the transaction up to the nearest whole dollar and transfer the extra into a savings account of the member’s choosing. Members can save for any purpose – whether it being gradually building a child’s savings, putting money into a holiday spending account, setting money aside for emergencies, planning a trip, or simply storing up some fun money.

“TopLine is committed to educating members and the community on the benefits of saving – through the products and services offered as well as the financial literacy sessions that we host for all ages,” says Tom Smith, TopLine President and CEO. “The primary goal when we launched the Sum-It-Up Savings™ program was to make it easy for our members to save on a routine basis, and since 2011 over 1,300 TopLine members have cumulatively saved nearly $815,000 in their personal savings accounts.” TopLine’s winning entry now heads to the national competition, where it will compete with statewide award recipients across the country. Entries that place in the national competition will be displayed during the 2018 Governmental Affairs Conference in Washington, D.C.

The award is named in honor of Louise Herring, an active supporter, organizer and champion of credit unions. She was the Ohio delegate to the 1934 national credit union conference in Estes Park, Colorado, where she signed the original constitution for a national credit union association. Herring believed that credit unions should work in a practical manner to better people’s lives. She saw the credit union as more than just a financial institution. In her own words, “The purpose of the credit union is to reform the financial system, so that everyone can have his place in the sun.”

TopLine Federal Credit Union, a Twin Cities-based credit union, is Minnesota’s 13th largest, with assets of more than $400 million. Established in 1935, the not-for-profit cooperative offers a complete line of financial services, as well as auto and home insurance, from its five branch locations — in Bloomington, Brooklyn Park, Maple Grove, Plymouth and in St. Paul’s Como Park — as well as by phone, mobile app and online at www.TopLinecu.com. Membership is available to anyone who lives, works, worships, attends school or volunteers in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott or Washington Counties and their immediate family members. Visit us on our facebook page at https://www.facebook.com/TopLineFederalCreditUnion. To learn more about TopLine’s Sum-ItUp Savings Program, visit https://www.toplinecu.com/savings_plan/.