Crowe Managing Director Specializing in Financial Services Consulting and Performance Improvement Timothy Reimink and Crowe Consulting Manager Nicholas Moore joined us on the show to share their findings from the Crowe 2021 Bank Compensation and Benefits Survey — showing today's financial institutions are experiencing lowest turnover in years.

Other findings included:

• Survey respondents have a more confident outlook on the economy and performance of their organization, with only 11% anticipating smaller-than-normal raises compared to 44% in last year’s survey.
• 75% of banks reported that they allowed some employees to work remotely at least one day per week. Prior to the pandemic, remote work was actively discouraged by many financial institutions, so Reimink noted it will be interesting to monitor the effect this will have on recruitment and retention in the next several years.  
• Nearly 48.2% of employees holding executive-level positions are over the age of 55, yet only 27.3% of respondents think their institution is prepared for the succession of leadership to the next generation. According to Reimink, it is critical for banks to have a longer-term vision regarding succession for the health of their organization.
• The median salary of CEOs/presidents increased 2.5% since 2020, for a 2021 median salary of $251,082.
• The position of teller I, which doesn’t require previous experience in the industry, reflected a 4.6% increase in median salary since 2020, one of the largest reported percentage increases of any position in the survey -- which is likely the banking industry’s response to rising minimum wages and competing benefits of large-scale retailers and other entry-level positions available in the market.

Check it out and let us know your thoughts.

Watch the clip above and be sure to check out the full episode located below the show notes.

CUneXus Co-founder/President Dave Buerger and Origence Vice President of Strategic Alliances Aleks Bogoeski joined us on the show to share their perspectives on the organizations' new partnership that provides credit unions with access to a digital storefront. Through this digital storefront, members are presented with timely, personalized, and highly effective pre-approved loan offers to make financing easier. These offers can be activated with a simple 10-second experience, allowing members to go shop with confidence and take advantage of their offers when they are ready.

With the Origence partnership, more than 1,100 more credit unions have access to the CuneXus integrated digital storefront. Proactive, personalized loans boost financial wellness and drive retention

Instead of waiting for consumers to act, CuneXus’ platform continuously analyzes hundreds of internal and external data points, keeping qualified borrowers perpetually approved for an array of personalized loan offers. This proactive “Perpetual Approval” strategy ensures that the credit union is “top of mind” anytime their members enter into a purchase market.

In addition, by eliminating the credit application process in favor of an ongoing automated credit approval, the credit union can then provide the nearly instant shop-borrow-buy experience that consumers crave.

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

CUNA Chief Advocacy Officer Ryan Donovan shares his concerns about the latest IRS reporting proposal revision, saying it's a "huge leap in the wrong direction." In our talk, Ryan explains why he thinks the latest version is not on the best path for credit unions and consumers.

He adds that there are huge security concerns, along with raising the $600 account threshold in original proposal to $10,000 in the new one still affects everybody.

According to CUNA, credit unions have sent nearly 600,000 messages detailing these concerns to Capitol Hill using CUNA’s Grassroots Action Center. Credit unions can also activate their members to send messages to Capitol Hill through CUNA’s Member Activation Program (MAP) community.

Check it out and let us know your thoughts.

CUNA Mutual Group's Senior Manager, Product Strategy Amy Nelsestuen joined us on the show to share her insights on the hidden drivers of digital lending for today's credit unions.

Amy talked about the differences between today's digital borrowers and traditional borrowers, as well as the digital effect on credit unions -- especially in terms of growing their lending business.

In addition, she discussed how most people assume that speed and convenience are the main factors for borrowers in choosing a digital lending experience. Amy clarified whether this is true or false in today's lending environment.

Check it out and let us know your thoughts. And don't forget to catch CUNA Mutual Group at NAFCU's 2021 Lending Conference, Nov. 1-3, 2021.