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Sponsor Feature: cuStrategies' Celeste Cook Reveals Specific Benchmarks for CU Success...

9/30/2015

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In this final episode with cuStrategies President/CEO Celeste Cook, we discuss the necessity of credit unions' goal setting and benchmarking efforts for continued success. Celeste reveals important benchmark percentages to adhere to for strong success, such as: ROA, loan growth, membership growth, average loan yield, consumer lending, and loan-to-share volume. She adds that business development is the number #1 driver of revenue for new loans and new members -- which equals sustained success. Enjoy!

Check out parts 1, 2, and 3 if you missed them the last few weeks. Lots of practical information for you:
Part 1: 'Why Didn't I Think of That?' Business Development Practices with cuStrategies Celeste Cook...
Part 2: The '3 Cs' on Gaining New Biz Opportunities for Your Credit Union...
Part 3: How to Measure and Track Your CU's New Business Efforts...

#464: 4 Essentials to Effective Board Succession Planning...

9/29/2015

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Credit union Board succession planning is a white hot topic in our industry right now. It's essentially setting the coordinates for the direction of your credit union for the foreseeable future. So we thought we would invite somebody on the show who deals with Board succession planning almost on a daily basis -- and that would be DDJ Myers Vice President Peter Myers.

Peter provides us steps to take to ensure your Board reflects your membership -- along with four parts on how to attract a Board member (namely the younger generation), advertising elections (don't hide it!), leveraging social media, go to SEG meetings to find talent to populate your Board, pay or not to pay Board members, etc. A truly candid talk with Peter on how your credit union can benefit with strategic Board succession planning. Enjoy!

#463: How to Sustain Credit Unions' Health with Glatt Consulting's Tom Glatt...

9/28/2015

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It's that time of the quarter again when we visit with Glatt Consulting's Tom Glatt to discuss his quarterly Credit Union HealthScore, which has a mighty accurate pulse on the industry's current state -- good or bad. Tom's been gathering CU data for some time now, so he's gotten pretty good at it and it's become an effective tool for credit unions to see what's working and what's not -- and make the appropriate adjustments to continue their success.

In this interview, Tom and I discuss:

the latest on the health of the credit union community
major bright spots
current and looming challenges
future HealthScore adjustments

#462: How MidUSA CU Accelerates its Small Biz Members' Revenue Streams...

9/25/2015

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Bucking the current MBL issue, MidUSA Credit Union has created a new revenue accelerator program for its small business members to allow them to receive funds faster and more efficiently. A pretty cool program and a definite value add for MidUSA, its NOWaccount works by advancing -- not loaning or factoring -- the money owed to a business’ accounts receivable department for a flat fee.

To get the details on MidUSA's NOWaccount, we invited the credit union's Business Development Manager Christy Eby. We discussed how the program came about, how it will benefit the credit union, what goals they have for it, and any advice for other credit unions looking to do something similar. The Ohio Credit Union League has also been helpful connecting credit unions across the state with NOWaccount. Enjoy!

#461: 4 Financial Education Tools and Tips for Credit Unions from CO-OP...

9/24/2015

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A few weeks ago, college freshmen flocked to their schools of choice looking to learn and take that next step in life. But there's a startling stat that's sobering for our fine freshmen: 39% of incoming freshmen don't have a financial budget. At first, I thought that was really low. Then I remembered my freshmen year and all my freshmen classmates -- and that number is high, which is scarier still.

Well, CO-OP Financial Services wants to help change all that with its financial education tools and tips for credit unions to pass on to their studious members. To get curriculum on this program, we invited CO-OP's Chief Marketing Officer Samantha Paxson on the show to share with us four of the tools and tips along with how this advice can help further position credit unions as a valued financial resource and build long-term member relationships. Enjoy!

<<Previous

Sponsor Feature: cuStrategies' Celeste Cook Reveals Specific Benchmarks for CU Success...

#464: 4 Essentials to Effective Board Succession Planning...

#463: How to Sustain Credit Unions' Health with Glatt Consulting's Tom Glatt...

#462: How MidUSA CU Accelerates its Small Biz Members' Revenue Streams...

#461: 4 Financial Education Tools and Tips for Credit Unions from CO-OP...

Mike Lawson, Host

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