MeriWest Credit Union VP Digital Strategy and Engagement Gene Fichtenholz and Kasisto’s CEO Zor Gorelov joined us on the show to share how Meriwest enhanced the member experience using Kasisto’s AI-powered Digital Assistant (aptly named "Scout") and have observed 30% more profitability among engaged users.

Other data Gene and Zor discovered since using Scout:

• Engaged users were 30% more profitable. 
• Scout - the AI digital assistant – also made a huge impact on contact center capacity, reducing pressure on employees.
• During the first six weeks after launch in February 2023, Scout was able to successfully manage a workload equivalent to 2.5 FTE, pouring that extra capacity back into the Meriwest contact center at a time when the member care team needed it most.
• 30% of intersections happened outside of working hours

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

Sean Flynn, Senior Director of Community Financial Institutions at TransUnion, stopped by the show to discuss their report on how credit union originations are down while credit balances continue to rise.

Specifically, Sean reports, the good news is that credit unions are the only type of lender to experience balance growth across all lending products. However, the bad news, high interest rates have depressed new account originations. He explains what’s going on here.

Sean also talks about what he's seeing with delinquency stability extending across credit union credit portfolio, as well as how the restart of student loan payments impacts this performance.

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

CFCU President/CEO Tansley Stearns stopped by the show to share insights and highlights from her recent article posted on CUinsight: “Five steps to find what’s missing from your strategy.”

Specifically, the story is about Tansley weaving her lifelong running experiences (successes and failures) and correlating it to bold thinking for today’s credit unions. She referred to an ultramarathon race she just discovered called “Big Dog’s Backyard Ultra World Championship,” which spurred this article, as well.

From a leadership perspective, Tansley pointed out that it may seem best to chart a conservative course during challenging times. But, in actuality, leaders need to be ambidextrous. She expanded on this thought of being ambidextrous as leaders.

We also referred back to an earlier conversation we had this year with her calling 2023 "the year of the test." Tansley talked about what she meant by this for CFCU — and how the tests went this year as we close out 2024.

We then dug into a couple of the five steps/suggestions to be bolder, more determined and dream bigger from her CUinsight article:  She detailed: “Keep the brainfood coming” and “Feel the fear.”

Lastly, we addressed the historically conservative nature of the credit union industry -- although, it may be less today than has been in the past. But Tansley discussed how to get a collective group (credit union industry) as a whole to adopt daring approaches to push that proverbial envelope -- especially with all competitive threats surrounding the industry: PayPal, SoFi, Apple, Chime, Google, and even Elon Musk wanting to turn X (formerly Twitter) into a banking platform.

Lots on the plate in this conversation with Tansley. And, as usual, she delivers big time with her positive and progressive thinking and passion for this industry. Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

And we have to give George Hofheimer some love, too. That's his book I'm holding up in the thumbnail shot: "Banking on a Human Scale."

TruStage's new-ish President/CEO Terrence Williams, joined us on the show for a comprehensive and candid conversation on many items such as:

• Experiences in life -- and upbringing -- that shaped him to be the leader he is today
• Why he decided to join TruStage and the wonderful world of credit unions
• His view on DEI, as well as its significance in the workplace and its role at TruStage
• His view for the future and what it looks like at TruStage
• Technology's role at TruStage’s future (clip)
• What he has been hearing about credit unions, as he visits clients nationwide

Wonderful, insightful, and refreshing conversation with Terrence. Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.

Jim Mears, CEO of BayPort Credit Union, stopped by the show to share how his credit union and SavvyMoney have partnered to launch an industry-first technology that allows users to learn their potential loan rate pre-qualification for auto, credit card, or personal loans without affecting their credit score.

Jim discussed how this free service, which is called Credit Score, is designed to help people find better financing options within their local communities and how it will add value to BayPort, as well as benefit the membership.

Some of Credit Score's features include:

• Pull updated credit score every 24 hours.
• Set long-term goals like buying a home or saving for vacation.
• Learn simple actions  to improve credit.
• Dispute claims easily within the platform.

He also explained that since launching is September 2023, loan applications have doubled. Jim expects those numbers to continue rise in 2024.

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