Be sure to watch the entire episode located below the show notes.

Overdraft fees are becoming a thing of the past, as more and more financial institutions nationwide are eliminating these policies to provide a better customer experience and enhance loyalty, as well. Credit unions are right there in the mix and increasing numbers following suit.

In this conversation with University Credit Union President/CEO David Tuyo, David shares why his credit union -- the first in California -- recently eliminated their overdraft fees (Jan. 3, 2022) to promote financial inclusion and equity for all members.

According to research released by the Consumer Financial Protection Bureau (CFPB), revenue from overdraft fees and non-sufficient funds (NSF) fees reached $15.47 billion in 2019. The study also found that less than 9% of consumer accounts account for close to 80% of all overdraft revenue, which highlights the economic disparity of the fee structure for certain consumers.

Furthermore, the CFPB also found that although small institutions with overdraft programs charged lower fees on average, consumer outcomes of those fees were similar to those at larger banks.

David explains that the overdraft protection fee is oftentimes a controversial fee structure that has historically had a negative impact on financially vulnerable members. As a not-for-profit financial cooperative, he says it’s our top priority to give all of our members the financial advantages they need to succeed.”

This policy change will greatly benefit members by decreasing financial stress for employees, students, alumni, and other stakeholders in university communities. In addition to UCU’s guarantee to provide loan rates within the top 1% of financial institutions in the country, this is one more example of how UCU is leading the industry towards more equitable treatment of all banking consumers and promoting greater economic inclusion for its members.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

Be sure to watch the entire episode located the below the show notes.

Everybody knows the importance of cybersecurity -- especially today and moving into the future.  Fraud is rampant in our world today and it's now a well-known statement that it's not a matter of "if" it's a matter of "when" regarding if and when credit unions will be hit.

To take a deeper dive on cybersecurity and its importance to credit unions, NCUMA President/CEO  Kathy Anchors-Budd and Dynamic Edge Founder/CEO Tim Neiman and COO Mike Robins joined us on the show to share their insights and expertise in this area.

Tim and Mike recently spoke at one of Kathy's NCUMA's conferences last fall on cybersecurity issues and their impact on credit unions' future.

According to Tim and Mike, typical IT solutions will spend more than 90% of their time fighting fires, leaving your credit union with little time to strategically plan projects aimed to increase your security, maintain stability in your environment, and utilize the most cost-effective technologies.

It's an issue that's only going to grow as time goes on and Tim and Mike are to share their expertise to help credit unions stay ahead of the proverbial curve. Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

Be sure to watch the entire episode located below the show notes.

Credit unions are always looking for creative ways to spark new business in the mortgage lending arena. CU Members Mortgage's Executive Sales Consultant Rochelle Pemble joined us for this month's Mortgage Monthly LIVE to share some of those creative ways in her talk on "Alternative Referral Sources and Member Loyalty."

With home buying season right around the corner, credit unions need to position themselves in this are as markets start to heat up and referrals are an ideal means to doing so.

Rochelle talks about how agents are great, but they are not the only sources out there. Attorneys, construction contractors, an organization's HR department, and last but not least -- your members.

Rochelle shares all the ways your credit union can leverage these resources as referrals to keep the mortgage lending business hitting on all cylinders this spring, summer, and fall.

Check it out and let us know your thoughts. And be sure to watch the entire replay below for all the details.

Be sure to watch the entire episode located below the show notes.

Trellance’s Chief Growth Officer Karan Bhalla joined us on the show to discuss Trellance launching its Professional Staffing services for credit unions' technology and analytics talent needs.

A division of Trellance's Technology Consulting business unit, the Professional Staffing services is designed to add extra (and the right) talent to your team on an on-demand basis.  According to Karan, Trellance works with your credit union to bring digital or member facing solutions to market, reducing downtime on your credit union's existing or newly implemented software, or even providing support on data findings for your own future projects.

Karan also addresses how these services work -- the process, that is. In addition, he talks about why Trellance developed and offers professional staffing services to answer specific industry pain points in this area.

Lastly, he discusses how he sees these services benefiting credit unions and their future technology plans.

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

Be sure to watch the entire episode located below the show notes.

Credit union core processor Corelation Inc., announces more executive moves, as one of their own, long-time leaders Lori Paige has been appointed Chief Operating Officer (previously Director of Conversion Services), as well as Dwayne Jacobs has been named Chief Technology Officer (previously Director of Software Development). 

Along with the recent announcement of Rob Landis becoming the company’s new president (previously COO), these new moves in leadership build on Corelation’s already solid foundation from the last 12 years that will take the company to another level in continuing to strive for excellence in all areas. 

Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.