Cuna News Podcast

The coronavirus (COVID-19) pandemic has not only elevated the importance of digital services, it has made clear the limits of self-service. While sheltering at home, many members are using digital banking for first time. But even for digital natives, the pandemic has made mundane interactions meaningful.In this episode of the CUNA News Podcast, sponsored by Symitar, a division of Jack Henry & Associates, Lee Wetherington explains why credit unions need to shift from self-service to personalized digital service. Doing so will allow them to translate their people-helping-people philosophy into their digital channels, says Wetherington, Jack Henry’s director of strategic insight. He also details what a personal digital experience should look like, the technology that enables this shift, and best practices for creating a personal experience through digital channels.

At first glance, an earthquake and hurricane don’t appear to have anything in common with a global public health crisis. But the lessons credit unions leaders learned from those natural disasters are ones they’ve put in place during the response to the coronavirus (COVID-19) outbreak. Eric Bruen, president/CEO of $40 million asset Desert Valleys Federal Credit Union in Ridgecrest, Calif., and Judy De Lucca, president/CEO of $175 million asset New Orleans Firemen’s Federal Credit Union, joined the CUNA News Podcast to talk about their experiences responding to crisis situations and how those experiences have guided them during the current pandemic. When back-to-back earthquakes struck the region in July 2019, Bruen and his team jumped into action to provide short-term emergency loans to members impacted by the disaster. As news about COVID-19 began to increase, Bruen relied on the lessons he learned during the earthquake response. Leading a credit union through a crisis is also a familiar situation for De Lucc

Since the start of the coronavirus outbreak in the United States, the CUNA News team has been covering the virus’s impact on credit unions. Our editors have heard stories from many credit unions about the unprecedented challenges of continuing to operate during a pandemic. But we have also heard stories from those same credit unions about rising to the challenge to protect their employees and members. This week on the podcast, we’re bringing you audio versions of three recent stories about credit unions forging their own paths through the pandemic.

As technology advances and data becomes increasingly important, protecting member and data privacy is vital. Data breaches occur every day, and consumers are more aware of privacy issues than ever before. But with the right privacy-enhancing technology, credit unions can balance consumer trust and the need to leverage data for better service. Greg Glawson, chief information officer at UNIFY Financial Credit Union in Torrance, California, discusses the privacy landscape and how his credit union uses solutions like MemberPass, which leverages privacy-enhancing technology, to build digital trust with members. Glawson leads UNIFY Financial’s technology and information security operations, establishing a secure environment that will sustain the credit union for the future of consumer banking. This podcast is sponsored by CULedger. CULedger is a CUNA Associate Business Member at the premier level.

As the coronavirus (COVID-19) pandemic continues, CUNA’s economists are closely following the situation. They recently discussed the economic and credit union impact of COVID-19 during the CUNA Managing Economic and Operational Challenges COVID-19 eSchool, offered free as a CUNA member benefit. This episode of the CUNA News Podcast features some of that discussion. CUNA Chief Economist Mike Schenk, CUNA Senior Policy Analyst Samira Salem, and CUNA Senior Economist Jordan van Rijn address key implications for credit union operations and prospects for financial stability and success. The webinar was the first session in CUNA’s eSchool on managing economic and operational challenges during the coronavirus pandemic. Other sessions highlight how to keep staff engaged, save the member experience, salvage your strategic plan, and manage a remote workforce during the crisis.

When consumers drive 70% of economic activity, as they do in the U.S., any significant disruption to peoples’ lives will have a corresponding impact on the economy. That is certainly the case with the coronavirus outbreak, which has created rapid, widespread, and severe economic disruption. As a result, CUNA economists have revised their 2020 economic growth forecast from 1.8% to -2.25%. They also adjusted their outlook for the unemployment rate from 3.5% to 6.5%. In this episode of the CUNA News Podcast, three CUNA economists examine the extent of the disruption, provide an updated forecast for the economy, and discuss implications for credit unions. They are Samira Salem, senior policy analyst; Jordan van Rijn, senior economist; and Mike Schenk, chief economist and deputy chief advocacy officer.

O Bee Credit Union in Lacey, Wash., is a 45 minute-drive from the Kirkland, Wash., nursing home that was the initial epicenter of the coronavirus outbreak. The area’s credit unions were among the first in the nation to implement their pandemic response plans, which included closing branch lobbies, expanding remote work arrangements, offering special loans, waiving fees, and more. This episode of the CUNA News Podcast features a conversation with James Collins, president/CEO of O Bee Credit Union. He describes O Bee’s ongoing response to the coronavirus outbreak, managing a remote workforce, leading during a crisis, and what gives him hope for the future.

The coronavirus outbreak, while first and foremost a humanitarian crisis, will have a substantial financial impact on credit unions and their members. While the extent of that impact isn’t clear, Mike Schenk, CUNA chief economist/deputy chief advocacy officer, says one approach will keep credit unions on the right track: Be flexible and continue to engage with and assist members to the best of your ability. This episode of the CUNA News Podcast examines the potential impact of the pandemic on the economy, credit unions, and consumers; how near 0% interest rates will affect credit union operations; lessons from the Great Recession; and more.

Credit Union Magazine’s 2020 Credit Union Heroes share a common bond of driving large-scale change by immersing themselves in the communities they serve. This year, we profile four heroes who build lasting partnerships, speak to credit union values, cultivate the art of lending, and identify new doors to open. All four heroes distinguish themselves as unsung champions of the movement by promoting credit union philosophy, exhibiting a firm belief in credit union values, and creating real, positive outcomes in their communities. The 2020 finalists are:Robin Brulé, chief community engagement officer at $2.4 billion asset Nusenda Credit  Union, Albuquerque, N.M.Margaret Delmonico, retired director of public relations at $5.6 billion asset PSECU, Harrisburg, Pa.Davina Napier, chief lending officer at $1.1 billion asset Credit Union 1, Anchorage, Alaska.Dave Prosser, senior vice president of community development at $654 million asset Freedom First Credit Union, Roanoke, Va.Read more about this year's heroes a

As a nationwide provider of residential mortgage lending services, QRL Financial Services has made a steadfast commitment to help credit unions achieve more profitable mortgage operations while delivering an exceptional experience for their borrowers. The company’s suite of offerings includes mortgage fulfillment services, retail lending, wholesale lending, correspondent lending, and sub-servicing. In this podcast, QRL Financial Services Vice President of Business Development Tom Secor and Vice President Sales Manager James Abegglen describe how their company partners with hundreds of credit unions to ease the increasing demands that technology, compliance, and personnel place on the mortgage process. Credit unions can maintain control of the front end of the mortgage process, ensuring member engagement online or in person.

The primaries for the 2020 presidential elections are just kicking off, but there are already noticeable differences in the way campaigns are being run compared to previous elections, says David Plouffe, president, policy and advocacy at the Chan Zuckerberg Initiative and campaign adviser for President Barack Obama in 2008. “It’s definitely one of the most unsettled and fluid primaries the Democratic Party’s ever had,” he says. “The general election is also remarkably fluid and hard to predict.” Plouffe will speak at the 2020 CUNA Governmental Affairs Conference (GAC) Feb. 25 in Washington, D.C. In this episode of the CUNA News Podcast, Plouffe talks about the 2020 election, how credit unions can prepare for the November election results, his time working in the White House as a senior adviser to President Obama from 2011 to 2013, his role with the Chan Zuckerberg Initiative, and more.

In the workplace and within team environments, organizations should characterize people by who they are rather than what they lack, says author and consultant Marcus Buckingham. That’s where companies will see the greatest return on investment from their employees. Buckingham will address the 2020 CUNA Governmental Affairs Conference, Feb. 23-27, in Washington, D.C. In this podcast, Buckingham explains how managers capture “moments of goodness” from their employees and inspire them to greatness. Work, by its nature, is teamwork, Buckingham says. The challenge for managers is combining everyone’s strengths into a cohesive unit that focuses on one or two outcomes. “The best team builders are those who figure out how to interlace everyone’s uniqueness,” he says.

During his 10 years on the supervisory committee, Tim Goblirsch has seen the committee’s role change  from one that merely took in information to a group that is now focused on enterprise risk management and the issues a growing credit union faces. “If we’re going to serve members in every area of their financial lives—whether it’s auto, home, or business lending, or an improved digital platform—we have to be stronger and test ourselves in the areas where there are risks,” says Goblirsch, supervisory committee chair at $1.6 billion asset Fort Knox Federal Credit Union in Radcliff, Ky. “We’re growing as an institution, and the committee has had to grow as well. We need to adapt and be nimble to deal with those challenges.” Goblirsch received the CUNA Supervisory Committee Member of the Year award at the 2019 CUNA Supervisory Committee and Internal Audit Conference in December. In this episode of the CUNA News Podcast, Goblirsch talks about how the supervisory committee has changed during his tenure, how his da

As a credit union branch manager in the 1990s, Chris Lorence found it frustrating how many members would have payroll deduction through the institution but keep their primary financial relationship elsewhere. They simply didn’t consider the credit union for most loans, investments, and other services. The same issue remains widespread today, he says. “As long as I’ve been in financial services, there has been the perception that credit unions weren’t for everyone. Consumers who aren’t members hear ‘credit union’ and think ‘car loan’ or ‘I could join one where I used to work.’” He’s working to change that perception as CUNA’s chief credit union awareness officer. Since June 2019, Lorence has led CUNA’s Awareness Initiative, Open Your Eyes to a Credit Union®, a digital-first marketing campaign that’s raising consumer consideration of credit unions. In this episode of the CUNA News Podcast, Lorence shares highlights from the initiative’s first year, how research shapes the effort, challenges in raising consumers

CUNA’s 2020 advocacy agenda will tell legislators how credit unions improve financial  wellness by supporting financial health, promoting financial security, and enhancing financial inclusion, says Ryan Donovan, CUNA’s chief advocacy officer. “The CUNA/league system will continue working to revolutionize the operating environment for credit unions by removing barriers, expanding powers, enhancing information security, and preserving the tax status,” he says. “But we’re going to talk about how these efforts will help credit unions solve the financial problems facing millions of Americans.” He believes this message will resonate with members of Congress, who are concerned primarily about how the policies they propose affect their constituents. In this episode of the CUNA News Podcast, Donovan shares advocacy highlights from 2019, priorities for 2020, and likely challenges we’ll face along the way.

Every industry is driven by certain leaders who provide direction in both thought and strategy. In the credit union system, one of those leaders is CO-OP Financial Services. The Rancho Cucamonga, Calif.-based technology provider offers credit unions payment solutions and thought leadership that continues to transform the industry. In this interview, CO-OP President/CEO Todd Clark describes how CO-OP will continue to shape the competitive environment for credit unions in 2020 and beyond. With more than 5,900 locations, CO-OP’s shared branch network is the second largest network of financial institution branches in the country. The CO-OP ATM network provides nearly 30,000 surcharge-free ATMs in all 50 states and 10 countries. Between its shared branching and ATM networks, CO-OP significantly levels the playing field for credit unions in their competition with banks. Clark also outlines how his company is helping credit unions move into the digital age. “Data and fact-based decision-making defines everything we

Brandon Riechers believes in developing young professionals and getting them involved in all areas of the credit union movement. “I’ve always been a champion of young professionals,” says Riechers, president/CEO of $2.6 billion asset Royal Credit Union in Eau Claire, Wis. “At Royal, we do what we can to help in the development of future leaders on many fronts.” Earlier this year, Royal launched the Young Professional Credit Union Activist (YP CU Activist), a program designed to strengthen the credit union movement and amplify the voices of young professionals. Amanda Farnham, an organizational development advisor, was selected to fill the YP CU Activist role. Her term runs from August 2019 through July 2020. She’ll attend state and national advocacy events and will meet with an advocacy mentor monthly to discuss issues and prepare for upcoming events.Reichers and Farnham joined the CUNA News Podcast to discuss the program, what Farnham is learning, why it’s important for young professionals to get involved in

Kim Ngo and her family truly embody the American Dream. Her father fled Vietnam in 1986 to escape persecution. And when Ngo joined him in Marin County, Calif., seven years later, she was a 10-year-old who understood no English and little about American culture. Today, she’s a branch manager at $7.1 billion asset Patelco Credit Union in Pleasanton, Calif., and a 2019 Credit Union Rock Star, sponsored by Fiserv. In this episode of the CUNA News Podcast, Ngo discusses her path to Patelco, her approach to leadership, her love of volunteering, and more.

Efficiency is a hallmark of a well-run organization. For credit unions, compliance is one of the biggest obstacles to efficient operations. As a loan subservicer, Midwest Loan Services offers credit unions a path to improved efficiency, not just with compliance but through the entire loan servicing process, says Peter Sorce, president/CEO of Midwest Loan Services. In this episode of the CUNA News Podcast, sponsored by Midwest Loan Services, Sorce explains what mortgage subservicing is and how it can benefit credit unions. He also details what to look for in a subservicer, the regulatory challenges related to mortgages, and this year’s mortgage outlook.

This week's episode features highlights from the 25th annual CUNA Lending Council Conference in New Orleans. Roundtable participants discuss lending’s past, its future, and both the challenges and positive outcomes taking place today. Among the guests are:Bill Vogeney, chief revenue officer, Ent Credit Union, Colorado Springs, Colo., and recipient of the CUNA Lending Council’s 2019 Phil Greer Lifetime Achievement Award. John Listak, manager, lending systems, Alliant Credit Union, Chicago, and recipient of the CUNA Lending Council’s Rising Star Award.Fawn Terwilliger, senior vice president and chief lending officer, Service Credit Union, Portsmouth, N.H.Bruce Taylor, vice president of consumer lending, Collins Community Credit Union, Cedar Rapids, Iowa.Tracy Ashfield, president, Ashfield Associates.Dan Picard, vice president of consumer lending and collections, Hanscom Federal Credit Union, Hanscom Air Force Base, Mass.Steve Quigley, vice president of business development, GreenState Credit Union, North L