#276: 5 Products Anchor Accessible Financial Services Incubator for CUs with Filene's Cynthia Campbell...
Filene Research Institute's Cynthia Campbell is back to provide us with an update on her Accessible Financial Services Incubator she is heading up, thanks to a grant from the Ford Foundation. Cynthia tells us the Incubator has developed five new products for CUs to test and serve low-to-moderate income consumers nationwide. Cynthia outlines each product with their features and benefits to help those who need a hand getting back to on their feet to financial freedom.
Here's a quick overview of the Incubator...
Armed with the largest grant in our history—a $700,000, 30-month grant from the Ford Foundation—we launched an accessible financial services incubator in September 2013. Using credit unions as the proving ground, Filene will test, package, and scale innovative, viable financial products in the incubator to benefit low-and-moderate-income US consumers. At least 25 credit unions and 5,000 US consumers will test five products. And we’ll advance the most promising concepts, with the end goal of large-scale implementation and commercialization of at least one product at a large mainstream financial institution.
Short on time. Watch the trailer below...
#275: Focused on Eyeprint Verification for FIs with Finovate Best-of-Show Winner EyeVerify's Toby Rush...
Passwords are a pain. So one company has literally come up with an eye-opening alternative called Eyeprint Verification from EyeVerify. Mobiles and tablets already come with more-than-sufficient cameras to photograph your eyes and use them as your new password. So EyeVerify did just that, eliminating the need for those 6- and 8-character, case-sensitive passwords that nobody can remember and have to change every three months to remain one step ahead of the hackers. Exhausting.
To get the lowdown on this award-winning technology (FinovateSpring 2014 Best of Show), we invited EyeVerify's CEO Toby Rush on the program. In a most revealing conversation, Toby provided us with how they came up with his mobile eye-print software, how it works, and why credit unions (and their members) will marvel at this simple and secure solution. Don't miss this chat.
#274: Why Credit Union Executive Compensation Strategies are More Important Today Than Ever with ECS's Katrina Saiz...
You'd have to be three minutes old not to realize that there is a mass exodus within today's credit union executive ranks. So succession planning is of utmost importance when it comes to leadership continuity for your credit union. At the top of this list is compensation for these executives, along with quality benefit packages not only to attract top talent but to keep that talent as well.
To provide some valuable insight on this subject, we invited Executive Compensation Solutions' Katrina Saiz on the show for an in-depth explanation on what credit unions can do today when dealing with this concerning C-suite situation. Katrina also reveals the latest trends for credit union executive compensation and benefit packages -- information that will be of great help to those out there in search mode.
In addition, Katrina provides credit unions with a call to participate for its annual Survey on executive compensation and benefit packages -- something ECS has been producing for more than a decade now for free. So visit their website (www.ecs-m.com) and register to participate in the Survey, which comes out later this year. And Credit Unions for Kids also win if you participate. Check it out!
#273: CO-OP THiNK Prize 2014: "CU-Thru Member Website" with Chicago Patrolmen's Federal Credit Union's Sanam Kazi...
In this episode, we visit with 2014 CO-OP THiNK Prize finalist #3, Sanam Kazi, Project Coodinator for Chicago Patrolmen's Federal Credit Union. Sanam has created website template idea called "CU-Thru Member Website" that allows credit union members to proactively plan for life's progressive events, such as college, marriage, retirement, home purchasing, etc. This site, which can be fully branded to any credit union, can be that "go-to" resource for members and even consumers out there who are looking to plan properly throughout their lives -- keeping those financial surprises to a minimum.
Check out how Sanam came up with CU-Thru Member Website, what her goals are for it, and what she'll do if she wins the $10,000 first prize. Enjoy -- and don't forget to vote on your favorite! (Voting ends May 2.)
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.