Baker Hill, a leading financial technology provider in delivering solutions for loan origination, risk management, and analytics, hosted its largest user conference to date at Prosper 2024 with over 200 attendees representing a record-breaking number of financial institutions along with a robust partner ecosystem who sponsored the event. Celebrating its 40th anniversary this year, Prosper 2024 marked a special occasion for Baker Hill. Prosper is Baker Hill’s premier user conference and is designed to provide financial institution leaders with the latest insights on the state of the banking industry, as well as opportunities to discuss emerging trends and best practices in lending, risk management and more. To kick-off the conference, which took place in Orlando, Florida, Baker Hill hosted its 40th birthday bash with dinner and live music at Disney’s Yacht & Beach Club Resort. This year's event featured Jim Perry, Senior Strategist at Market Insights and well-renowned speaker in the financial sector, as the opening keynote. The Prosper 2024 agenda also featured 17 breakout sessions focused on a range of topics, from enhancing risk management programs and combatting tight margins to best practices for small business and commercial lending. Over the three-day event, attendees discovered how to best leverage Baker Hill NextGen® and optimize their institution’s lending operations. “Over the last 40 years, Baker Hill has continued to build its reputation as a trusted provider of loan origination and risk management solutions for financial institutions, including some of the top banks and credit unions in the country. Prosper gives us a unique opportunity to bring leaders from these renowned financial institutions, exchange perspectives and learn from one another,” said John M. Deignan, president and CEO of Baker Hill. “This year’s event was a huge success given our record-breaking turnout, which made celebrating our 40th anniversary especially memorable. Our team is looking forward to another successful user conference at Prosper 2025.” Mark your calendars as Prosper 2025 is set to be held May 4-6, 2025 at the Loews Coronado Bay in San Diego, CA.
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SCE Credit Union (SCE FCU) in partnership with Los Angeles County, announced foster care youth as young as 13 can open their own checking and savings accounts – without an adult co-owner – through the credit union’s Youth Access Banking program. The program helps foster youth establish a path toward financial independence by removing barriers to open a bank account including accepting alternative forms of identification and waiving account fees. SCE FCU will also provide youth with an initial $5 deposit to establish their savings account. The program is a joint partnership between SCE FCU and the Los Angeles County Auditor-Controller’s Ombudsperson (Ombuds) for Youth in Short-Term Residential Therapeutic Programs, whose office advocates for youth placed in group homes. “This partnership is about more than financial empowerment for LA County's foster youth,” said Jennifer Oliver, president and CEO of SCE Credit Union. It’s also about ensuring this community has the knowledge and resources necessary to make informed financial decisions to start investing in their futures. Providing these essential banking services and education is core to our mission and vision. Investing in LA County’s foster youth provides valuable opportunities for these young adults and the communities in which they live.” The program also features complimentary sessions by SCE FCU to foster youth in their home settings to answer any questions about the Youth Access Banking program and, if necessary, help them through the steps of opening their first bank account. “Early exposure to financial literacy and money management skills lays a crucial foundation for lifelong financial success. I am proud our office is leading the way for youth in foster care in the State and providing important financial resources they can use throughout their life,” Auditor-Controller Oscar Valdez said. “Research consistently shows that providing youth with access to basic financial services generates greater knowledge and resilience, empowering them to navigate future financial challenges,” said Ombudsperson Michelle Lucarelli-Beltran, who is leading the efforts on the program. SCE Credit Union has branches in southern California and Nevada, and offers surcharge-free access to more than 30,000 ATMs nationwide (including at most 7-Eleven and Rite-Aid Stores) and 30+ branch offices (including affiliates) within LA County through their shared network of financial institutions. Data warehouse and analytics provider Gemineye is excited to feature two outstanding new credit union clients that joined its team in Q1 2024: Nusenda Credit Union and Space Coast Credit Union. Gemineye’s nimble Databricks and Azure architecture, lightning-fast implementations and easy implementations have made them the first choice for a growing number of savvy credit unions. Gemineye’s mission is to empower community financial institutions to become more data driven, making data analytics accessible to all credit unions. Historically, only the very large credit unions had access to powerful data analytics tools, but not anymore. New clients of variety of asset sizes have partnered with us in 2024, and appreciate the breadth of cores we work with (including new clients with Fiserv Portico and Fiserv XP2) and tricky integrations. "We are thrilled to announce two of our newest clients, Space Coast Credit Union and Nusenda Credit Union. Both organizations are leaders in innovation, and we look forward to supporting their data-driven journeys,” says Gemineye CEO Brewster Knowlton. Bankjoy, a leading digital banking provider for banks and credit unions across the U.S., has announced its partnership with Pinwheel, a fintech that helps financial institutions win primacy with frictionless account activation. Through the partnership, Bankjoy will help its customers easily integrate the industry’s most advanced digital deposit switching (DDS) solution, Pinwheel Prime, into the digital banking experiences for over 70 banks and credit unions nationwide. Customers of banks or credit unions that use Bankjoy can take advantage of Pinwheel Prime’s two-click deposit switch, transforming a multi-step process requiring customers to leave the bank experience into a fully integrated digital journey that takes mere seconds. Drawing on Pinwheel’s success with applications like Cash App, which saw a significant increase in direct deposits in a challenging liquidity environment, Bankjoy aims to provide similar advantages to credit unions and community banks. This collaboration allows these institutions to compete effectively by offering an easy and fast deposit switch option. Pinwheel's research shows that the speed and ease of deposit switching powered by Pinwheel’s solutions can help financial institutions grow direct deposit enrollment by 32% and lower the time it takes a customer to make their first direct deposit by 65%. Financial institutions have long burdened customers with manual, paper-based deposit-switching experiences, creating friction and exposing them to fraud vulnerabilities. Even solutions that offer digital set-up experiences often require consumers to manually look up their payroll provider and input additional information, leading to a staggering 90% drop-off. To eliminate this friction, Pinwheel is growing a robust proprietary payroll provider network, including partners like OneSource Virtual (OSV), making it possible to instantly identify and authenticate U.S. workers' payroll records directly within the bank account application workflow. Pinwheel effectively removes barriers responsible for half of the drop-off along the traditional consumer journey by ending the need for consumers to know and enter their payroll credentials. With this partnership, Bankjoy’s customers can rapidly implement Pinwheel Prime without taxing their engineering teams. Almost immediately, banks and credit unions using the Bankjoy platform can transform their account opening flow, driving immediate uplift to account activation and acquisition ROI. Beyond reducing friction, digitizing the direct deposit switching process allows financial institutions to tap into advanced real-time insights into their customers’ income so they can deepen their relationships, unlocking an increase in customer lifetime value of over 14%. “Bankjoy is committed to transforming our comprehensive end-to-end platform into a formidable deposit growth engine for our clients," said Weiwei Duncan, COO of Bankjoy. "By seamlessly integrating from Bankjoy online account opening through various tightly-knit third-party integrations like Pinwheel, we can equip our clients to excel in the competitive deposit market. Our goal is clear: to ensure that our clients not only compete but win the deposit war, leveraging advanced technology to streamline processes and enhance user engagement. Removing the friction during the deposit switching setup process is a major step towards achieving account primacy, quickly becoming one of the most important factors for banks and credit unions looking to grow their revenue.” “Partnering with Bankjoy was a natural fit, as they’ve made their mark as innovators in the digital banking industry, " said Kurtis Lin, co-founder and CEO of Pinwheel. “We’re proud to partner with leaders in the digital banking space who help us further facilitate a smooth direct deposit experience for more consumers. With this collaboration, we can bring the ability to easily switch direct deposit settings to an even wider set of consumers, facilitating a fairer financial system with greater choice and portability.” Telhio Credit Union Partners with Hockey & Hounds Donates $8,060 in Support for Animal Adoption4/26/2024 Over the past year, Telhio Credit Union has provided $8,060 in support for a unique animal adoption effort in partnership with Hockey & Hounds and The Fan 97.1 FM. The donation was commemorated recently with the presentation of a check to NHL All-Star and Columbus Blue Jackets Defenseman Zach Werenski and 97.1 FM Sports Radio Announcer Anthony Rothman by Telhio’s Vice President of Marketing, Nick Biratsis. The weekly Wednesday radio segment, Hockey & Hounds, features a collaboration between Rothman of 97.1 FM The Fan Sports Radio, Zach Werenski, and Columbus Blue Jackets President of Hockey Operations, John Davidson to showcase shelter animals in Ohio. The show, sponsored by Telhio Credit Union, has inspired countless central Ohioans to support pet adoptions, community volunteering, and charitable efforts since its inception in 2016. Rothman, also a Volunteer Humane Agent in Franklin County, started this segment with former Blue Jackets Coach John Tortorella eight years ago. The weekly program presents the latest insider information on Columbus' Pro Hockey Team and spends several minutes sharing updates on adoptable rescue animals, including success stories from previous animals featured on air. “This partnership has been a win-win for everyone involved for many years,” said Biratsis. “Undoubtedly, the true winners here are the adopted dogs and their forever families, but this initiative creates ongoing support for the animals currently in shelters awaiting their permanent homes and provides needed resources to the shelters. Telhio is grateful to be a continued part of this effort.” The segment has also inspired an apparel line with the help of local sportswear company Where I’m From. The sale of Hockey & Hounds shirts, sweatshirts, and hats directly supports animals in need across central Ohio. For information about Hockey & Hounds, visit www.971thefan.com/hockeyandhounds. Chartway Credit Union is pleased to announce the expansion of its senior leadership team, welcoming Nick Whiting as senior vice president of Utah region—a newly created role to support our members and team members at the 15 Chartway branches in our Utah and Texas markets. Whiting comes to us with more than 18 years of experience in financial services, including his tenure as part of the branch leadership team at Utah Community Credit Union. Nick is also fluent in Spanish and highly invested in fulfilling the needs of the Latin American community, which will effectively advance Chartway’s multicultural strategy and increase access to low-cost financial products and services for historically underserved segments of the population in the communities we serve. Whiting will lead the continued transformation of Chartway’s Utah and Texas branch operations in this role. "Nick’s strong leadership capabilities, combined with a strategic mindset, align perfectly with Chartway’s core values and our planned next phase of growth and innovation," said Melissa Cade, chief retail officer. "He is excited to partner closely with leaders and team members across the organization to ensure Chartway’s brand continues to impact individuals and families so they can thrive. I look forward to having Nick on the ground in Utah and seeing the impact his leadership will make across our enterprise!" "I’m excited about this new role and the challenges it will bring," said Nick Whiting. “Chartway’s values align with my own, so I can’t wait to dig in to help Chartway grow and expand its reach—not only in the Western region but also throughout all communities we serve. I know that the skills and resources I bring to the table will be helpful to achieving our purpose of helping individuals and families thrive.” Whiting’s experience includes significant roles at Zion’s Bank, where he led all aspects of regional branch operations, including cross-functional coordination and support with their business services team. He holds a master’s degree in business administration from the University of Phoenix and a bachelor’s degree in business administration from Utah Valley University. Learn more about Chartway Credit Union at www.Chartway.com. "GDP fell shy of expectations in the first quarter, registering the slowest pace of growth in nearly two years. However, key components like consumption and business fixed investment remained strong, while volatile elements such as inventory growth and net exports accounted for the undershoot. This suggests that the economy remains on stable footing, and that the Federal Reserve can afford to wait for inflation to slow before cutting interest rates. Credit unions are a net positive for the economy, generating over $200 billion in economic activity annually." -- America's Credit Unions Deputy Chief Economist Curt Long DeepTarget Inc., a transformational financial services company that provides Growth-as-a-Service™ aka GRaaS™ to community financial institutions (FIs), announces the release of its latest whitepaper, “From Insights to Impact: Supercharging Deposits (Hint: With Cross-Selling Gold).” Download whitepaper here In today’s environment of rapid technological advancements and evolving customer expectations, banks and credit unions face the challenge of attracting deposits while also maximizing cross-selling opportunities. In addition, account holders demand seamless digital experiences and competition from fintech disruptors continues to intensify. These shifts in expectations and challenges make core transformation or modernizing legacy systems no longer a choice but a strategic imperative. However, merely upgrading infrastructure isn’t enough. Financial institutions must harness data intelligently to engage account holders effectively and cross-sell relevant products. This whitepaper explores how data-driven core transformation can empower financial institutions to achieve these objectives seamlessly. By leveraging advanced analytics, personalized engagement and seamless integration, they can enhance deposit services, deepen customer relationships and drive revenue growth. Topics covered in the whitepaper include:
“Banks and credit unions face a challenging financial environment where increasing deposits has become critical. To thrive, they must also unlock the full potential of cross-selling and maximize every customer interaction,” said Preetha Pulusani, CEO of DeepTarget. “By harnessing the power of advanced data analytics and personalized experiences, financial institutions can supercharge their deposit growth, deepen customer relationships, and drive revenue and growth. The right technology can be the game-changer that sets them apart from the competition and propels them forward in a rapidly evolving market." The Iowa Credit Union Foundation (ICUF), the philanthropic arm of the Iowa Credit Union League (ICUL), doubled its Warren A. Morrow Memorial scholarship pledge to recipients this year due to a record-breaking number of applicants. With the support of Iowa credit unions, ICUF awarded eight more high school scholarships and four more post-high school scholarships than in previous years, totaling a first-ever award amount of $46,000 to 24 students. “With the help of our Iowa credit union partners, Affiliates Management Company (AMC) and its family of companies, ICUF could proudly double its scholarship pledge to recipients this year,” said Marian Holmes, Board Chair of ICUF. “It is our passion to continue serving our community of credit union partners and helping champion financial well-being for all.” Warren A. Morrow dedicated his life and career to helping the undeserved and empowering the Hispanic community. To honor Warren's legacy, the Iowa Credit Union Foundation provides scholarships to Iowa credit union members through the Warren A. Morrow Memorial Scholarship program. Last year, $23,000 was awarded to 12 high school and post-high school students pursuing further education. “The Iowa Credit Union Foundation is grateful for the additional support from our amazing Iowa credit union partners,” said Ena Babic Barnes, Executive Director, ICUF. “By doubling our commitment to Iowa credit union members, we can continue strengthening the financial lives of Iowans and celebrate those who passionately lead by the credit union philosophy of ‘people helping people’.” The 16 high school senior recipients are:
The 8 post-high school recipients are:
As cooperative community organizations, one of the principles at the heart of the credit union movement is concern for community. What does community mean to you? How have you served your community, and how do you see your credit union working in your community? Consider sharing personal examples and experiences. Founded in 1995 as the philanthropic arm of the Iowa Credit Union League (ICUL), ICUF’s mission is guided by the credit union philosophy of ‘people helping people’. Guided by this philosophy ICUF works to champion financial well-being for all. For more information, visit www.IowaCreditUnionFoundation.org. Titan CEO and headline sponsor Wipfli LLP are pleased to announce Darius Wise, President/ CEO, Red Rocks Credit Union as a 2024 Colorado Titan 100. The Titan 100 program recognizes Colorado’s Top 100 CEOs & C-level executives. They are the area’s most accomplished business leaders in their industry using criteria that include demonstrating exceptional leadership, vision, and passion. Collectively the 2024 Colorado Titan 100 and their companies employ over 74,000 individuals and generate over $43 billion in annual revenues. This year’s honorees will be published in a limited-edition Titan 100 book and profiled exclusively online. They will be honored at an awards ceremony on May 30th, 2024, and will be given the opportunity to interact and connect multiple times throughout the year with their fellow Titans. “The Titan 100 are changing the way that business is done in Colorado. These preeminent leaders have built a distinguished reputation that is unrivaled and preeminent in their field. We proudly recognize the Titan 100 for their efforts to shape the future of the Colorado business community. Their achievements create a profound impact that makes an extraordinary difference for their employees and clients across the nation.” says Jaime Zawmon, President of Titan CEO. Darius Wise began his career with Red Rocks Credit Union in 2019 as their Chief Impact Officer. Before Wise began his work in the financial industry, he spent more than 17 years in non-profit executive leadership roles. As a visionary leader, Wise has supported Red Rocks CU as the organization has shifted its culture, performance standards, mindset, leadership team, and overall results. His proven track record of leading organizations, developing teams, and driving results is what makes him a Titan. “I am deeply honored to receive the Titan 100 recognition. This award is a testament to the incredible team I have had the privilege of leading. As I reflect on this achievement, I am reminded that the higher you climb in any organization, the less it is about you,” said President and CEO of Red Rocks Credit Union. “Your role transforms into one of service and support to the people you have the honor of leading. I am grateful for the opportunity to serve and inspire others, and I look forward to continuing to empower my team to reach new heights together.” “On behalf of all the partners and associates at Wipfli we congratulate all the Titan100 winners. It’s an honor to recognize this diverse group of leaders in the Colorado business community. We appreciate the lasting impact each leader has made, and continues to make, in building organizations of significance both here in Colorado and abroad. Your ingenuity and creativity have set you apart, and the honor of being seen as an industry Titan is richly deserved,” says Pete Aden, Partner at Wipfli. |
Author: Mike LawsonMarried to a most gorgeous and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple. Archives
April 2024
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