MoneyWorks is a program designed to allow Advocates (credit union or contract employees) to market credit union services to consumers, thereby providing a low-cost alternative delivery channel for the credit union, and a source of income for the Advocate. The Advocates will provide information about the credit union, products and services, and special promotions. They will act as a conduit to deliver completed applications to the credit union on behalf of the consumer. The credit union will be responsible for all closings, fulfillment, disclosures and compliance issues.

MoneyWorks is a highly flexible and customizable program, allowing each credit union to utilize their existing recruitment, training and compensation programs.

MoneyWorks has inspired some interesting programs in the financial services market:

• FORUM Credit Union ($1 billion) in Indiana offers the innovation under the name Unofficial Spokesperson (see below for some marketing materials). As of Novembef 2008, FORUM has 253 Unofficial Spokespeople which has referred a total of 198 new members for a total of 377 new services. Visit their site for more information.
• CTCE Federal Credit Union ($84 million) in Pennsylvania developed a referral program for membership and auto loans rewarding their members with $10 for themselves and $10 for the new member. Other referral awards are available as well.

Below are some marketing materials and more information about MoneyWorks, the advocate position, compensation, etc. If you have any other questions, feel free to email any of the group members.