Christie Kimbell, Executive Vice President at Filene Research Institute, stopped by the Studio Lounge to share her thoughts on the impact of In the Cellar's mission to support mental health for kids. Christie emphasized the importance of collaboration among credit unions to benefit the Children's Miracle Network Hospitals in this regard. 

Check it out and let us know your thoughts. And, if you feel compelled to do so, feel free to donate to Credit Unions for Kids to continue credit unions' support all year.

Taylor Adkins, vice president, product management at Alkami, Michael Sferro, president/CEO at Towpath Credit Union, Lisa Dawson Executive Vice President and CFO at Towpath, and Tessa Moretti, assistant vice president, director of marketing and communications at Towpath, all joined us on the show to discuss how the credit union has completely transformed its digital banking experience with Alkami's digital banking and marketing solution.

Taylor provided a quick overview on Alkami Digital Banking Platform and Data & Marketing Solution that ultimately helped Towpath, replacing the credit union's core, digital banking, loan origination, and document management systems.

Michael talkd about what was going on at Towpath that prompted them to look at a technology like Alkami’s Digital Banking Platform ad Data & Marketing Solution, as well as Lisa and Tessa adding how it has helped their credit union so far. They discussed how it connects members with timely offers—such as auto loan recapture, debt consolidation, and e-statement adoption—that support their financial well-being.

In addition, they shared results-type info on how it has benefited your Towpath and its members, resulting in over 800 members switching to e-documents and an estimated $2.6 million in auto loan business. As a result, these strategic moves aim to future-proof their institution, while staying true to their community-first mission.

Lastly, they addressed how this technology helps eliminate digital limitations and provides a frictionless experience that could compete with any financial provider—without sacrificing the personal service that defines the credit union's local roots.

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

Chris Harper, Director of Business Development for CULA, stopped by the show to share Credit Union Leasing of America's (CULA) latest survey revealing affordability being the top driver for consumers leasing vehicles today.

Chris shared a few key findings in our discussion:

• Nearly 70% of consumers surveyed would lease again for lower payments, shorter terms and flexibility in uncertain economy
• 90% found leasing a good option versus a loan
• 60% of those who had just leased a vehicle said the affordability of leasing was their top consideration in choosing a lease over a loan
• 40% cited being able to change a vehicle every few years to keep up with technology and new features

He added that tariffs seemed to have played a role in some of these findings and expanded tariffs’ role in this area.

Chris also talked about the rising cost of new cars — even before tariffs — and how that has most likely played a role in leasing’s uptick, enabling consumers to get into a new car.

Lastly, he shared lessons or takeaways from these findings for today’s credit unions and how then can leverage these new discoveries.

For more details, here are links to the two surveys referenced in this episode:
LENDER / CU SURVEY
Credit Unions Expect Tariffs to Dampen Auto Sales but Majority Optimistic About Auto Portfolios

MEMBER SURVEY
Affordability is Top Driver for Consumers Leasing Vehicles, according to New CULA Survey

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

TruStage Director of Credit Union  Systems Relations John Cassidy stopped by the show to celebrate the organization's 90th anniversary, as well as detail its Advocacy/Credit Union system support.

Specifically, John talked about the company's commitment to credit unions and the support it provides to the industry for nearly a century. He also shared advocacy efforts, including financial contributions and partnerships that strengthen the credit union movement.

Lastly, John discussed what the next 90-years look like for TruStage.

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

Janis Lunger, VP Member Contact Center at Empower Federal Credit Union, and Milind Borkar, Founder/CEO at Illuma, joined us on the show to share how Empower launched Illuma's Voice Authentication solution (IllumaShield™) and secured more than 30,000 members in the first six months -- which means 30,000 members securely protected in the first six months and growing.

Adding another bonus, Janis and Milind shared that not only have they addressed security concerns, but they have reduced verification time from minutes to  a mere 17 seconds.

Here are some other stats Janis and Milind shared:

• Achieving an 81% reduction in member verification time.
• 8 out of 10 EFCU members choose to enroll in IllumaSHIELD™  when offered.
• 19 departments are using IllumaSHIELD™
• 0 Fraudsters have defeated IllumaSHIELD™

According to Janis, “Verifying member identity over the phone has always required a thoughtful balance between security and convenience. While our traditional methods were effective, they sometimes introduced extra steps for both members and our team. With IllumaSHIELD™ we’ve been able to streamline the process, making it faster and more seamless without compromising our high standards for security."

Q&A summary...
What is the significance of the partnership between Empower Federal Credit Union and Illuma in implementing voice authentication?
The partnership is crucial as it ensures a transparent and trusted collaboration, allowing both teams to align their goals and effectively operationalize the voice authentication technology.
How has the implementation of IllumaSHIELD impacted the verification process for Empower Federal Credit Union?
The verification process has been significantly streamlined, reducing the time from several minutes to just 17 seconds, enhancing efficiency and member experience.
What metrics does Illuma use to measure the success of the voice authentication implementation?
Illuma tracks the time required to authenticate calls, member and agent adoption rates, and gathers feedback to assess satisfaction and effectiveness.
What unexpected benefits did Empower experience from implementing Illuma Shield?
Empower found that the technology not only improved verification times but also allowed staff to take on additional responsibilities and create better career paths.
What challenges did Empower anticipate when introducing voice biometrics, and how did they address them?
Empower anticipated misconceptions about biometrics and addressed them through education, ensuring their team was prepared to inform members about the technology's benefits.
What advice did Janis give to other credit unions considering voice authentication?
Janice advised that it's a no-brainer to reach out to Illuma, emphasizing the seamless implementation process and the importance of educating both staff and members.

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