Iowa & Nebraska Credit Unions Partnering with CoOportunity Health Announced
DES MOINES, IA (July 12, 2013) — More than 40 credit unions in Iowa and Nebraska serving approximately 367,000 credit union members, or 25 percent of the total membership in Iowa and Nebraska, have announced they are partnering with CoOportunity Health to offer affordable, consumer-friendly and high-quality health insurance options for individuals, families and businesses starting this fall. Additional credit unions are deciding whether to participate over the next several weeks.
As announced previously, Iowa and Nebraska credit unions will be the exclusive financial institution distribution channel for CoOportunity Health when open enrollment for health insurance begins Oct. 1, 2013.
Participating Iowa and Nebraska credit unions will provide member outreach and education on healthcare reform while making CoOportunity Health’s insurance products available to individuals, families and businesses. Another benefit of the partnership is that credit union Health Savings Accounts (HSAs) can be established when a prospect enrolls in a qualified high-deductible health insurance plan through CoOportunity Health.
“Credit union enrollment in year one of this partnership has exceeded our expectations,” said Dave Lyons, CEO, CoOportunity Health. “CoOportunity Health’s mission and philosophy are perfectly aligned with credit unions and we believe that by working together, we will have a tremendous impact by educating Iowans and Nebraskans on the pending changes in healthcare while providing them a new, member-focused choice for health insurance.”
Like credit unions, CoOportunity Health is a not-for-profit organization. CoOportunity Health is a new health insurance CO-OP (Consumer Operated and Oriented Plan) that was created as part of the Affordable Care Act to create new competition and new choice for consumers. It is one of 24 CO-OPs approved nationwide, but the only one to serve Iowa and Nebraska. CoOportunity Health is managed by and for its members. Any savings will be used to increase member benefits and lower premiums, similar to the mission of credit unions.
“Credit unions have long served as trusted advisors in their local communities. CoOportunity Health will serve that role as well. Through this partnership, our members and those who seek out membership will have access to vital information and new health insurance options at a time of great confusion and need,” said Patrick S. Jury, CEO/President, ICUL. “Together, there will be no one in the health insurance market more focused on consumer well-being than CoOportunity Health and credit unions.”
Jury encouraged non-credit union members who will be shopping for health insurance this fall to consider joining their local credit union.
CoOportunity Health will begin enrollment in October 2013 with effective dates of Jan. 1, 2014. CoOportunity Health is licensed to do business in Iowa and Nebraska offering health insurance solutions on the Iowa and Nebraska Health Insurance Marketplaces (Exchanges) for individuals, families and small groups, as well as offering off-Exchange health plans for all under 65 market segments.
The 44 credit unions who have already signed up to participate include:
Iowa Credit Unions
1st Gateway Credit Union, Camanche
Ace Community Credit Union, Ames
Advantage Credit Union, Newton
Alliant Credit Union, Dubuque
Ascentra Credit Union, Bettendorf
Capitol View Credit Union, Des Moines
Casebine Community Credit Union, Burlington
Cedar Falls Community Credit Union, Cedar Falls
Community Choice Credit Union, Johnston
Consumers Credit Union, Denison
Des Moines Metro Credit Union, Des Moines
Dubuque Teachers Credit Union, Dubuque
Dupaco Community Credit Union, Dubuque
EdCo Community Credit Union, Des Moines
Greater Iowa Credit Union, Ames
Members Community Credit Union, Muscatine
Metco Credit Union, Cedar Rapids
Midland Credit Union, Urbandale
Nishna Valley Credit Union, Atlantic
Northwestern Employees Credit Union, Council Bluffs
Peoples Credit Union, Webster City
The Cornerstone Community Credit Union, Des Moines
The Family Credit Union, Davenport
Town & Country Credit Union, Harlan
Tradesmen Community Credit Union, Des Moines
United Credit Union, Council Bluffs
United Service Credit Union, West Des Moines
Nebraska Credit Unions
Ameritas Employees Credit Union, Lincoln
Archer Cooperative Credit Union, Archer
First Lincoln Federal Credit Union, Lincoln
Fremont First Central Federal Credit Union, Fremont
Greater Omaha Federal Credit Union, Omaha
Heartland Area Federal Credit Union, Omaha
K.R.D. Federal Credit Union, McCook
Kearney Eaton Employees Federal Credit Union, Kearney
Kearney Federal Credit Union, Kearney
Liberty First Credit Union, Lincoln
LINCONE Federal Credit Union, Lincoln
Meadow Grove Federal Credit Union, Meadow Grove
Neighborhood Community Federal Credit Union, Omaha
North Platte Union Pacific Employees Credit Union, North Platte
Omaha Douglas Federal Credit Union, Omaha
Omaha Federal Credit Union, Omaha
People’s Choice Federal Credit Union, Lincoln
About the Iowa Credit Union League (IowaCreditUnions.com)
The Iowa Credit Union League is the trade association that represents the interests of Iowa credit unions and their more than one million members. Credit unions are not-for-profit, financial cooperatives owned and operated by their members. Iowans use their credit union membership to receive higher interest rates on savings and lower interest rates on loans. For more information on ICUL and Iowa credit unions, visit www.IowaCreditUnions.com. Follow ICUL on Twitter at www.twitter.com/icul or on Facebook at www.facebook.com/iowacreditunions.To learn more about credit unions, visit www.ASmarterChoice.org.
About the Nebraska Credit Union League (Nebrcul.org)
The Nebraska Credit Union League is the trade association representing 96 percent of Nebraska’s 72 credit unions and their 425,000 members. Credit unions are not-for-profit financial institutions that are owned by their members and federally insured by the National Credit Union Administration. A credit union’s board of directors is made up of volunteers who have been elected by the membership of the credit union. To learn more visit www.nebrcul.org.
About CoOportunity Health (coOportunityhealth.com)
CoOportunity Health is the only multistate health insurance CO-OP in the U.S. CoOportunity Health began operations in February 2012 following approval by the federal government. The company is headquartered in Des Moines, Iowa, and is licensed to do business in both Iowa and Nebraska. CoOportunity Health has strategic business alliances with HealthPartners Administrators, Inc., which provides health plan administrative services, and Midlands Choice, a multistate Preferred Provider (PPO) network headquartered in Omaha. Editor’s Note: A CoOportunity Health logo is available for your use: http://www.cooportunityhealth.com/UserDocs/coOp_health_logo_RGB.jpg.