Mobile application use is up, and ATM use is down, but is your credit union’s card program responding and adjusting? For credit unions to stay competitive, it’s more important than ever that they learn how to use cardholder data, marketing services and advanced analytics to understand members, deepen relationships, and maximize revenue and growth opportunities. We recently spoke with Arika Selleck, Vice President of Product Management at Fiserv. She explains how analytics makes it easier for credit unions to strengthen and grow their card portfolios. Leveraging transactional data helps credit unions pinpoint cardholder usage patterns and deliver appropriate marketing messages to the right members, at the right time. To learn more, hit play.

CUTimes Perspectives podcast

How Member Transaction Data Is an Opportunity for Growth

Highlights from the December 15 webcast “Building A Resilient Credit Union Digital Enterprise: Introducing FIS Hosted Services Powered by Nutanix Cloud,” sponsored by Nutanix and FIS. This event featured Kevin Lash, Director of Global Financial Services Strategy and Solutions, Nutanix; Eric Turman, Senior Sales Executive – IT Outsourcing, FIS; and Bill Hampton, Senior Vice President and Division Executive for FIS Credit Union Division.   The full on-demand presentation can be found at  https://www.cutimes.com/2020/11/20/speed-digitization-and-optimize-costs-with-fis-hosted-services-powered-by-nutanix-cloud/

Building A Resilient Credit Union Digital Enterprise: Introducing FIS Hosted Services Powered by Nutanix Cloud

Highlights from the December 3 webcast “Payments Liability: Turning Data from a Liability to an Asset.” This event featured Hoang Leung, Payments Leader at Very Good Security. The full on-demand presentation can be found at  https://www.cutimes.com/2020/11/04/take-control-secure-own-and-monetize-your-data/

Excerpts from How to Accelerate Your Payments Transformation While Cutting Your Data Security Costs by 50%

Highlights from the November 12 editorial webcast “Credit Union Lending: It’s a Mixed Bag.” This event featured Michael Ogden, Editor-in-Chief of Credit Union Times, and was sponsored by Arch MI.   The full, on-demand presentation can be found at https://www.cutimes.com/2020/10/14/2020-mortgage-lending-big-picture-trends-for-credit-unions/

2020 Mortgage Lending: Big-Picture Trends for Credit Unions

Highlights from the November 5 webcast “The Digital-First Credit Union: How to Move Forward with eSignatures.” This event featured Patrick Albert, Senior Solutions Architect from OneSpan, and Aphrodite Koukoulas, Senior Marketing Manager, also from OneSpan.   The full on-demand presentation can be found at  https://www.cutimes.com/2020/10/05/the-digital-first-credit-union-how-to-move-forward-with-esignatures/

The Digital-First Credit Union: How to Move Forward with eSignatures

Highlights from the October 22 webcast “How Your Credit Union Can Thrive in 2021,” sponsored by Information Builders (ibi). This educational event featured a presentation from Kirk Kordeleski, current Executive Benefits Consultant at OM Financial Group and formerly President/CEO Bethpage Federal Credit Union, with contributions from Jon M. Deutsch | Global VP Financial Services Solution and CU Practice Head | Information Builders (ibi). The full on-demand presentation can be found at https://www.cutimes.com/2020/09/25/how-your-credit-union-can-thrive-in-2021/   Kirk Kordeleski | Past Bethpage FCU President/CEO and Executive Benefits Consultant  | OM Financial Group Before joining OM as executive benefits consultant, Kirk served as President and Chief Executive Officer of Bethpage Federal Credit Union, the largest community credit union in the Northeast, for 15 years. During his tenure, Bethpage was awarded the largest federal charter in the country and doubled its size every five years, growing from $950M to $6B. Among his achievements as CEO, Kordeleski helped create large-scale collaborations in both technology and back room operations, the first such collaborations in the industry. Prior to taking the CEO position at Bethpage, he was the credit union’s EVP for seven years. Before joining Bethpage, Kirk served as a Director on the Executive Team of Bank Fund Staff FCU for seven years. Kirk has started up 2 consulting firms, acted as senior managing partner at an industry leading professional services firm, was instrumental in starting up a blockchain ID CUSO and founded a marketplace lending Fintech. The consulting firms specialized in credit union strategy, digital transformation, CUSOs and data analytics. Kirk has also held numerous community leadership positions, including Chairman of Long Island’s top business association, Friends of the Arts, and a board position on the United Way, to name just a few. In his spare time, he enjoys music and collects art.   Jon M. Deutsch | Global VP Financial Services Solution and CU Practice Head | Information Builders (ibi) Jon M. Deutsch is Vice-President, Head of Financial Services, at ibi, providing industry-leading enterprise data and analytics for Credit Unions. Working with many of the world’s marquee financial institutions to map strategic business objectives to innovative financial technology, Jon has started-up and led several innovative technology organizations, products and services in Financial Services, and led multiple technology consortia uniting vendors and technology professionals to deliver commercial interoperability standards.

Excerpts from Webcast: How Your Credit Union Can Thrive in 2021

Highlights from the September 22 webcast “Hard Knocks: Lessons Learned from COVID-19 and the Disruption of the Credit Union-to-Member Relationship,” sponsored by TimeTrade. This event featured, from TimeTrade, Steve Connolly, Senior Director of  Product Management; and from Del-One Federal Credit Union, Donna Robinson, Director of Branch Operations, and Horacio Garcia-Korosec, Director of Business Intelligence.   The full on-demand presentation can be found at https://www.cutimes.com/2020/09/02/hard-knocks-lessons-learned-from-covid-19-and-the-disruption-of-the-credit-union-to-member-relationship/

Hard Knocks: Lessons Learned from COVID-19 and the Disruption of the Credit Union-to-Member Relationship

The COVID-19 pandemic has highlighted the need for more robust employee benefits. As a result, credit unions are rethinking benefits in the context of supporting employees during difficult times. Benefits packages that are more comprehensive, however, drive up the cost of programs. Employee benefits and compensation account for more than 50% of credit union operating expenses, and healthcare costs alone are projected to grow at a rate of 5.5% a year. In this episode of the “Credit Union RX 2020” podcast series, we spoke with Jason Ritzenthaler, Co-Chief Investment Officer and Director of Investments and Institutional Business for Members Trust Company. He explains how Members Trust Company has helped credit union partners offset 63% of employee benefits costs. To learn more, hit play.

Offer Employees More While Making More: Employee Benefit Funding Trusts

Banks and credit unions are responding to the effects of the pandemic differently: banks are focused on consolidating while credit unions are expanding. In fact, credit unions opened 1,523 branches in September 2019, compared with 4,727 closed bank branches during the same period. Banks are looking for buyers for their branches, while credit unions are working to fill “banking deserts,” or areas with no financial institutions within a 10 mile radius. In this episode of the “Credit Union RX 2020” podcast series, we brought together Neil Archibald, Chief Operating Officer for Members Trust Company, and Kathy Courtney, Chief Operating Officer of Greenstate Credit Union, to discuss the benefits of entering bank acquisition transactions with a third-party acquisition partner. They explain how working with a partner helps credit unions overcome barriers they face during the acquisition process and ultimately helps them better serve members. Click the player to hear their discussion.

The Benefits of Working with a Third-Party Acquisition Partner

Trust administration is a detail-oriented and time-consuming task, yet many clients decide to let their “eldest child handle it” or decide that “since my brother is a CPA, he can do it.” The challenge is that the client is asking a loved one to take on a major burden during an emotionally difficult time. We recently brought together Kathleen Miller, Vice President and Senior Trust Officer for Members Trust Company, and Kevin Stemple, a partner with Fairfax, Va.-based Yates, Campbell & Hoeg. They explain the symbiotic relationship between estate planning attorneys and trust companies. Stemple estimates that as many as 25% of his clients select a trust administration option, and he explains how this option spares clients’ loved ones extensive legal complexities, sometimes compounded by delicate family dynamics. To learn more, hit play.

How Trust Companies and Attorneys Forge Relationships to Better Serve Clients

Differentiation is becoming a difficult task for financial advisors, who are working under increased competition to secure new business. This challenge is occurring at a time when asset retention is a challenge — at both the front and tail ends of the advisor-client relationship. Investment advice has largely been commoditized and advisors can no longer stand out by promising to deliver superior investment returns. We recently brought together Sheldon Reynolds, Vice President of Trusts & Investments at Members Trust Company, and Julie Bates, Managing Director of Delta Community Retirement & Investment Services, to explain how credit union financial advisors can adapt. They discuss how advisors can stand out, improve member value and enhance responsiveness through fee-based investment management services. To learn more, hit play.

How Investment Management Services Are Helping Financial Advisors Differentiate

Over the next several decades, the biggest and wealthiest generation in U.S. history will transfer $30 trillion in assets to their children. The problem is that 60% of American adults don’t have an estate plan, potentially hindering the smooth transfer of hard-earned assets from one generation to the next. Credit unions are in a unique position to help members protect against this risk. We recently brought together Rachelle Czaplinski, CTFA, senior trust officer of BECU Trust Services, and Andrea Brandon, JD, vice president of marketing for Members Trust Company, as they discussed the importance of a trust services program. A credit union’s goal is to be a member’s primary financial institution. Brandon and Czaplinski explain how a trust services program helps accomplish this goal and assists members with preparing for future critical moments. This is the second episode in Members Trust Company’s ongoing podcast series “Credit Union RX.” To learn more, hit play.

Preparing for the Big Wealth Transfer with a Trust Services Program

Credit unions are firmly invested in their employees’ health — not only their physical health but their emotional health as well. They want innovative solutions to help people stay healthy and feel supported in the workplace. Additionally, there is rising uncertainty about benefits. Health care costs are projected to rise 5.5% per year, growing from $3.5 trillion to $6 trillion by 2027. A special fund such as an EBFT provides credit unions with expanded investment powers so they can do more by making more--providing funding for critical employee benefits, such as health insurance, paid time off, 401(k) plans, executive benefits planning and more. We recently spoke with Jason Ritzenthaler, co-chief investment officer and director of investments and institutional business for Members Trust Company, to better understand how credit unions are leveraging this resource. Ritzenthaler explains how EBFTs help offset rising benefits costs and discusses the most important considerations for credit unions. To learn more, hit play.

How Credit Unions Are Using Employee Benefit Funding Trusts (EBFTs) to Offset Rising Costs

Highlights from the June 18 sponsored editorial webcast “Lending Trends and Challenges: Credit Union Economic Outlook.” This event featured Michael Ogden, Editor-in-Chief of Credit Union Times,  The full, on-demand presentation can be found at https://www.cutimes.com/2020/05/11/lending-trends-and-challenges-credit-union-economic-outlook/ About Michael Ogden | Editor-in-Chief | Credit Union Times Michael’s career stretches back 25 years from his time as a radio and TV journalist in Ohio and Wisconsin, to public and government relations work in the technology world, and finally stepped inside the credit union industry as a social media and digital media expert. Michael is the Editor-in-Chief for Credit Union Times, where he leads a team of financial journalists bringing the latest news and insights for credit union leaders and executives.

Lending Trends and Challenges: Credit Union Economic Outlook

Highlights from the April 15 webcast titled “The Rise of Mobile Banking and Digital Payments - Don’t Get Left Behind.” This editorial event featured Michael Ogden, Editor-in-Chief of Credit Union Times, and was sponsored by Melissa Corp.   The full on-demand presentation can be found at https://www.cutimes.com/2020/03/27/the-rise-of-mobile-banking-and-digital-payments-dont-get-left-behind/

The Rise of Mobile Banking and Digital Payments - Don’t Get Left Behind

Perspectives taps into CreditUnionTimes' partners to provide leading insights on pressing topics shaping the industry. This podcast will feature new analysis on the technology, regulations and best practices that are impacting today's credit union executives.

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CUTimes Perspectives podcast

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