OneAZ Credit Union is thrilled to award a total of $142,000 in Legacy Grants to five Arizona nonprofit organizations. These grants represent OneAZ's unwavering commitment to creating a positive and lasting impact on the communities we serve. The following nonprofit organizations have been selected to receive Legacy Grants:
“OneAZ is extremely proud to support these five exceptional organizations in their efforts to build stronger, more vibrant communities,” said Brandon Michaels, OneAZ Community Foundation President and President & CEO of OneAZ Credit Union. “The five 2023 Legacy Grant recipients were selected because they serve as catalysts for positive change in communities across Arizona. Grants like these are an investment in Arizona’s potential and we look forward to partnering with each to build a brighter future for everyone who calls the Grand Canyon State home.” Since 2016, the OneAZ Community Foundation has provided over $1 million in grants and funding to Arizona nonprofit organizations through the Legacy Grant program and other donations. Funding for the Legacy Grant program is made possible in large part due to OneAZ members’ debit card usage. Each time a member uses their OneAZ debit card for a purchase, OneAZ donates one-cent to the Foundation. This sustainable funding model allows OneAZ to equitably distribute donations to communities where our members live and work. This sustainable donation model truly reflects the credit union principle of “people helping people.” For more information about OneAZ Credit Union's Legacy Grant program and its ongoing community initiatives, please visit OneAZcu.com/Foundation.
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To empower credit unions with the actionable insights needed to refine their non-interest income (NII) strategy, Callahan & Associates is excited to announce the launch of its annual non-interest income (NII) survey. The survey, covering 17 detailed NII categories beyond the 5300 Call Report, provides participants with a comprehensive understanding of trends, alternative income sources, and the ability to answer key questions to shape their own strategies. Including categories such as overdraft fees, mortgage servicing fees, card fees, and more, participants can answer key questions such as: • Are other credit unions working to reduce their fee impact on members? How? • How reliant are others on specific non-interest income sources? • How will reducing overdraft fees impact our revenue? • How does our card transaction volume compare to our peers? • Could changes to our composition improve how members view us? • Are there other sources of non-interest income we should consider? Benefits of Participation: All participating credit unions will receive an exclusive copy of the Annual Non-Interest Income (NII) Report at the end of February 2024. This report serves as a valuable resource for strategic planning, allowing credit unions to identify growth opportunities and enhance their financial performance. How to Participate: To receive the detailed report, credit unions are encouraged to schedule a meeting with a Callahan Credit Union Advisor. Callahan’s team will help answer questions and provide the survey and instructions. Here's the link to participate: https://go.callahan.com/Non-interest-income-learn-how-to-participate.html?rs=PressRelease&cid=2024-01-NII-Survey-New-Participant CSI, a leading provider of end-to-end financial software and technology, announced today it has appointed Roxanne Martinez as chief people officer. She has spent more than 25 years across HR and consulting, enabling complex business and talent transformations and empowering leadership teams to build and sustain the highest levels of performance. In her role, Martinez is responsible for talent acquisition and management, total rewards, diversity, equity and inclusion initiatives, employee relations, talent systems and analytics, talent business partners, internal communications and implementing talent strategies that drive business results and support an engaged workforce. “Our ability to innovate and serve community banks is determined by one thing above all else: our people,” said David Culbertson, CEO and president of CSI. “Roxanne shares that belief. Her passion for building on our exceptional culture and her experience in developing the finest talent and recruitment strategies will be invaluable assets as we grow. I’m thrilled to welcome her to the CSI family.” Prior to joining CSI in December 2023, Roxanne served as executive vice president and chief human resources officer of DentaQuest Ventures, LLC. She also spent more than 13 years serving in several executive HR leadership roles for Liberty Mutual Insurance, leading talent strategy for some of the company’s largest mergers and acquisitions and corporate reorganizations “CSI is on an incredible growth trajectory,” Martinez said. “With that journey comes the opportunity and responsibility to cultivate an industry-leading employee experience that reflects CSI’s mission and core values while also driving real business value. I’m excited to help bring that vision to life and join CSI at such a dynamic period in its history.” Martinez serves on the board of directors and advisors for multiple organizations, including the Association of Latino Professionals for America, Boston’s Dimock Center and the D’Amore-McKim School of Business at Northeastern University in Boston, where she serves as co-chair. She is also a member of the Latino Corporate Directors Association. For more information on CSI, visit csiweb.com. Tim McAlpine, Founder/CEO Currency Marketing Recent reports have unveiled a serious knowledge gap within significant segments of the U.S. and Canadian populations concerning life expectancy during retirement. This gap is related to longevity literacy, which refers to an understanding of how long people tend to live upon reaching retirement age. Deficits in longevity literacy have the potential to profoundly impact financial planning and saving capabilities for later years. Insights from the 2023 Personal Finance (P-Fin) Index survey, conducted by the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business, underscore the ramifications of low-level longevity literacy. The reports highlight that less than 40% of adults accurately estimate the average lifespan at retirement age, indicating a clear gap in understanding longevity. Further findings expanded on the concept of longevity literacy, revealing that only 35% could accurately estimate lifespan from age 65, with merely 12% demonstrating robust longevity literacy by accurately answering key questions on the subject. In Canada, a survey by the Canadian Institute of Actuaries (CIA) mirrors these trends, revealing that Canadians underestimate their life expectancy by almost four years. Additionally, Canadians underestimate long-term care needs, with statistics suggesting a higher percentage requiring such care than anticipated. Surya Kolluri, head of the TIAA Institute, emphasizes the critical importance of improving longevity literacy, stressing its direct impact on retirement security and the mitigation of longevity risk. Strong longevity literacy directly correlates with better retirement readiness, as seen in individuals who actively plan for retirement and exhibit higher confidence in their financial preparedness. Addressing this knowledge gap requires more than just information dissemination, given terminology barriers and misconceptions. Annamaria Lusardi, University Professor at The George Washington University and GFLEC's Academic Director, emphasizes the need for a more comprehensive educational approach to bridge this gap.
Credit unions can play a pivotal role in addressing low longevity literacy by implementing robust financial education programs. Equipping members with accurate knowledge about retirement longevity and its financial implications can significantly enhance their readiness for retirement. Considering solutions such as our own financial education program, It's a Money Thing, could be a strategic step for credit unions to effectively impact low longevity literacy while empowering members to secure their financial future. Drivers and putters were in full swing for the annual Global Credit Union Foundation Fairway Friends Golf Tournament on Nov. 6, 2023. Foundation partners and golfers of every skill level descended on the Phoenix Country Club on a mission to have fun and raise money for two of Arizona’s most respected nonprofits, Big Brothers Big Sisters of Central Arizona and the Arizona Housing Coalition. “Every year the Foundation golf tournament gets better and better,” said Geoff Lundfelt, president of the Global Credit Union Foundation. “In large part because of the wonderful, welcoming people of Arizona and our amazing business partners. We are incredibly grateful to them for helping us sustain the critical work Big Brothers Big Sisters of Central Arizona and the Arizona Housing Coalition are doing.” $50,000 was distributed to Big Brothers Big Sisters of Central Arizona, which uses a volunteer mentoring network to develop positive relationships that have a direct and lasting effect on the lives of young people. Another $50,000 went to the Arizona Housing Coalition, for their StandDown Alliance, which helps veterans and their families who are experiencing housing instability and homelessness to get—and stay connected to—supportive services. The Global Credit Union Foundation Fairway Friends Golf Tournament is an annual event that invites business partners, credit union leaders and volunteers, and the community to support nonprofit partners of the Foundation. The CoastHills Credit Union Board of Directors and member-owners have voted to convert from a state chartered Credit Union to a federally chartered Credit Union. The Credit Union’s former state charter limited eligibility to anyone who lives, works, or worships in Santa Barbara, San Luis Obispo, Monterey, Ventura and Santa Cruz counties. Now CoastHills will operate as a Multiple Common Bond charter, allowing them to serve more members and communities through association and employment eligibility. Through expanded eligibility, economies of scale will reduce costs and allow CoastHills to give more back to member-owners. CoastHills will continue to have their deposits insured by the National Credit Union Share Insurance Fund (NCUSIF), operated and managed by the National Credit Union Administration (NCUA). “CoastHills is excited to convert to a federal charter, which will allow us to serve virtually any prospective member. We are dedicated to supporting the Central Coast through exceptional member service, and providing products and services that help our members reach all of their financial goals. We are always looking for ways to improve so we can give back even more to our member-owners and to our communities, and this conversion will allow us to do just that.” said Credit Union President/CEO Paul Cook. “Whether our members prefer banking on our state-of-the-art online and mobile banking services, or at their favorite local branch, we are happy to now have the opportunity to serve anyone who is interested in becoming a member of CoastHills.” All current CoastHills members will maintain their membership, and there will be no changes to product or services offerings. CoastHills will not be closing any of the 12 branches operated on the Central Coast. University Credit Union (UCU), in partnership with the Southland Conference, is proud to announce its designation as the official financial institution and credit union partner of the Southland Conference. This prolific partnership not only continues to solidify UCU's position as the premier financial ally for university and college communities, but also marks the first credit union sponsorship in the history of the Southland Conference. The significance of this partnership goes beyond UCU’s industry-leading financial services and business banking solutions to include its tailored approach to meeting the unique needs of university and conference communities. As part of this partnership, UCU will be incorporated into marketing and promotional efforts at Southland Conference championships and events year-round. The partnership also provides UCU membership access to all schools participating in the Southland Conference, including over 140,000 current students, 90,000 alums, employees, faculty, and their families. "We are very pleased to welcome University Credit Union as the Official Financial Institution and Credit Union Partner of the Southland Conference,” Southland Commissioner Chris Grant enthusiastically stated. “This collaboration brings invaluable financial services and resources to our Conference office, contributing to the overall growth and success of our campuses and student-athletes." The partnership underscores a commitment to student-athlete financial literacy education—a testament to the shared vision between Commissioner Grant and UCU's CEO and President, Dr. David Tuyo II. UCU's dedication to uplifting university communities aligns seamlessly with the Southland Conference's mission to foster financial thriving in all facets of academic and athletic life. "Our mission as a financial institution exclusively serving higher education is to uplift university communities and help them thrive financially in all areas of academic and athletic life,” Dr. David Tuyo II emphasized. “The partnership is so important to usbecause it gives us the opportunity to bring decades of financial expertise to an incredible conference and set of member universities." The conference schools include Houston Christian University (formerly Houston Baptist University), the University of the Incarnate Word, Lamar University, McNeese State University, University of New Orleans, Nicholls State University, Northwestern State University, Southeastern Louisiana University, Texas A&M University-Commerce, and Texas A&M University-Corpus Christi. As UCU solidifies its commitment to growth in the progressive communities of the Southland Conference located exclusively in Texas and Louisiana, this partnership stands as a testament to the collaborative spirit driving the Southland Conference and UCU towards a shared vision of financial empowerment and community enrichment, while reinforcing the spirit of innovation and progress within the partnership. The partnership was established by Van Wagner's Vice President, Mark Massari, who manages the SLC's sponsorship partners program. Leading cloud-native digital banking services provider Constellation Digital Partners (Constellation) announced today that Wichita-based Meritrust Credit Union ($1.8 billion in assets) has completed a successful conversion to the Constellation Digital Banking platform to power its new, more modern digital banking experience for its members. Recognizing the limitations of its legacy digital banking platform, the team at Meritrust wanted to create a more digitally robust, frictionless experience for its members – one that was more reflective of the credit union’s brand and its commitment to innovation and service. Ultimately, the credit union selected the Constellation Digital Banking platform based on its more modern aesthetics and interface, feature-rich capabilities and flexible architecture that positions the credit union to gain more control over future enhancements and the introduction of new product and service offerings. The full conversion was completed over a single weekend in October 2023. Since the implementation, Meritrust reports that the new digital banking experience has been well received by staff and members alike. “Our intent with the conversion was really two-fold,” said Wade Bruendl, Senior Vice President and Chief Digital Officer at Meritrust Credit Union. “First, we wanted to ensure that our members have the best digital banking experience available and second, we wanted to have a platform in place that really set us up for the future, both in terms of scalability and the flexibility to provide much more than routine banking functions. The team at Constellation worked closely with us to help us think not just about today, but to think about future innovation and how the digital banking platform can play a key role in supporting our larger strategic goals moving forward.” By leveraging the open architecture of the Constellation Digital Banking platform, the credit union can both maintain collaborations with existing vendors and more easily explore additional technology partnerships. In terms of integration, the Meritrust team reports that the Constellation Digital Banking platform integrated seamlessly with its existing DNA® from Fiserv core platform. “Our mission is to help credit unions like Meritrust deliver a world-class experience to their members through the digital channel,” said Kris Kovacs, Founder and CEO of Constellation. “Constellation Digital Banking was thoughtfully designed to provide our financial institution clients with maximum flexibility over the user experience, along with a greater level of control over their own technology roadmaps, and we are encouraged by the positive reception that Meritrust has seen from its members to date.” OneAZ Credit Union (OneAZ), a leading member-owned financial institution, is thrilled to announce the addition of three dynamic and innovative executives to the team. Osman Ulhaq, chief strategy and growth officer; Sandeep Uthra, chief technology officer and Jackie McCormick, chief people and culture officer. Each of these new team members brings a wealth of experience, leadership, and knowledge that will guide OneAZ towards greater impact and raise the standard of excellence for the financial services industry in Arizona. “With these leaders on our team, OneAZ is ready to change the landscape of the banking and credit union industry in Arizona. We’re building a purpose-driven organization that serves as a catalyst for change in the communities we serve. Osman, Sandeep and Jackie represent some of the top talent in the industry and we’re excited to have them leading us as we raise the bar for innovation and excellence among Arizona credit unions,” said Brandon Michaels, OneAZ President and CEO. Osman has a proven track record of implementing successful growth strategies and will help drive transformational and integrated strategy and member experience. A passionate leader, he thrives on creating strategic visions and driving business initiatives that ignite success. As the chief strategy and growth officer, he will focus on aligning OneAZ’s vision for growth with the credit union’s strategic initiatives and internal culture, plotting a course for innovation and excellence for the future. Sandeep has more than two decades of experience developing and executing technology strategies, including several executive roles in the financial services space. Among his many achievements, in 2019, he was named winner of a prestigious Orbie Award by the Charlotte CIO Leadership Association, and in 2020 was selected as a Forbes Technology Council member. In 2020, he was named executive-in-residence at RevTech Labs which runs an accelerator program focused on financial technology, insurance tech, and health tech. Jackie is a seasoned human resources executive with an affinity for fostering organizational excellence through the development and well-being of its people. For over 20 years, she has concentrated on organizational culture, talent acquisition, executive development, performance management and compensation and benefits. OneAZ is a leading financial institution committed to providing its members with superior financial solutions, exceptional service and personalized advice. With a strong community focus, OneAZ will continue its commitment to educate members and have their best interests at heart. For more information, visit www.oneazcu.com. Neural Payments, a peer-to-peer (P2P) payments pioneer, has announced its official integration with Narmi, a leading provider of digital banking solutions. The partnership will enable Narmi clients to offer a fully integrated API P2P solution from their digital banking platforms. With Neural Payments P2P fully embedded within the Narmi digital banking experience, financial institutions can attract new consumers looking for a more convenient omnichannel approach to their P2P experience via a seamless out-of-network experience. “Our partnership with Neural Payments gives users of our financial institutions more options for moving their money in Narmi’s digital banking platform,” said Edwin Akrong, VP of Product at Narmi. “We’re committed to constantly evolving our offerings, ensuring financial institutions have access to the most cutting-edge payment solutions in the market.” Financial institutions on Narmi can now facilitate effortless fund transfers for users, both in and out of the Neural Payments ecosystem via existing integrations with third-party wallets and accounts tied to debit cards. This is in contrast to the traditional P2P experience, which restricts users to transacting within the same platform. With the Neural Payments P2P solution, financial institutions on Narmi will be positioned to capture deposits and reach new user markets while reducing transaction fees and the risk of fraud. “Neural Payments is reshaping the P2P payment landscape by offering an open-loop system that transcends traditional banking boundaries,” said Melissa Kopp, Director of Client Experience. “Our partnership with Narmi will give community and regional financial institutions access to simpler and faster P2P payments, making it easier and more secure for financial institutions to capture new deposits and broaden their consumer base.” |
Author: Mike LawsonMarried to a most gorgeous and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple. Archives
May 2024
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