PSCU/Co-op Solutions today released new details for the upcoming THINK 24 conference scheduled for May 7-10 in Nashville, Tenn. True to this year’s theme, “Experience is Everything,” this highly anticipated annual event promises to ignite change and growth in the credit union movement. Attendees can expect insightful encounters with forward-thinking credit union executives and thought leaders from around the country. Reprising her role as THINK host, personal finance journalist Jean Chatzky will lead audiences through main stage content from the Grand Hyatt Nashville. Breakout sessions covering topics from fraud and risk analysis to embedded payments will bookend daily keynotes from renowned speakers, each with a distinct perspective and inspirational approach to growth strategy. Presentations will include the following speakers, among others:
In addition to mainstage keynote and panel presentations, breakout sessions and 1:1 Advisor Sessions, attendees will get a first look at PSCU/Co-op Solutions’ 2024 Credit Union Growth Outlook research. Charitable activities benefiting the Children’s Miracle Network Hospitals kick off the event on May 7. THINK attendees can choose between a tour of Nashville’s Country Music Hall of Fame, Ryman Auditorium and Johnny Cash Museum, or a visit to one of the world’s preeminent listening rooms. With the latter option, attendees will experience a songwriter’s performance, hear the story of “the heroes behind the hits” and have an opportunity to meet the artists. In addition, the conference’s closing celebration party on May 9 will feature a live performance by a CMA Award-winning recording artist. “Each year, the THINK conference immerses attendees in a new story designed to spark ideas and embolden our collective imagination,” said PSCU/Co-op Solutions EVP, Chief Service Officer Dean Young. “Credit unions have come to expect more than great content; they look forward to sensory jolts from unexpected experiences and soaking in the unmistakable energy from a roomful of people all united around vision. A strong sense of place is also present, so music lovers will be in for a treat with this year’s Nashville backdrop.” Registration for the THINK 24 conference is now open for credit union attendees. For more information or to register, visit co-opthink.org.
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NCR Atleos Corporation (NYSE: NATL) (“Atleos”), a leader in expanding financial access for financial institutions, retailers and consumers, today announced that Grow Financial Federal Credit Union has chosen Atleos ATM as a Service (ATMaaS) to transform its self-service banking channel for members and support ongoing growth. Tampa, Fla.-based Grow Financial recognized the need to update its aging ATM infrastructure and wanted to simultaneously grow its ITM footprint to connect with members in new and engaging ways. The credit union decided to expand its relationship with Atleos, selecting both Atleos ATMaaS and Atleos ITMs. This move consolidates a previously complex operating environment into a single, trusted vendor partnership, simplifying management and maintenance of the credit union’s ATM and ITM channels. "We exist to serve people, not profit. This commitment drives us to make sure our self-service banking options are reliable, member-centric, and easy to use," emphasized Doug Tilden, EVP and Chief Financial Officer at Grow Financial Federal Credit Union. "Through our partnership with Atleos, we're not only improving the member experience at self-service touchpoints but also enhancing efficiencies and reducing complexity. It's a powerful win-win.” “Atleos is uniquely positioned to run an institution’s self-service banking more efficiently and effectively than anyone else in the market,” explained Steven Nogalo, General Manager of North America for Atleos. “Relying on us to take over the distribution, installation, maintenance and cash management of Grow Financial’s fleet will make self-service banking more accessible to members and free significant bandwidth for the credit union. Employees can in turn focus more on their core business objectives such as strong member service and growth.” Global Women’s Leadership Network (GWLN) awarded four scholarships to credit union industry women, providing them with opportunities for professional development and skill diversification at the largest gathering of credit union professionals at the World Credit Union Conference (WCUC), along with several virtual events throughout the year. The 2024 GWLN Scholarship recipients are:
“We’re very excited to be able to continue our tradition of annual scholarships this year with the support of our industry partners and membership base. These four scholars were selected from a record number of 86 applicants from 23 countries on six continents where GWLN is present,” said Lena Giakoumopoulos, GWLN Director. “There were a large number of well qualified individuals, and it was a challenge to select these four women who will build their skillsets, help grow our program and engage with more women for a greater impact throughout the global credit union system.” Since 2009, GWLN has awarded more than 100 scholarships to women from over 30 countries. Scholarships are made possible through funding from GWLN memberships and industry champion sponsorships. In 2023, sponsors included PSCU/Co-op Solutions, TruStage, Origence and the Susan Adams Scholarship Fund which was established in honor of former Entrust Financial Credit Union CEO Susan Adams supported by One AZ Credit Union. Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., announced today that Elevations Credit Union ("Elevations") has launched Alkami's online business and retail banking platform. Following a seamless implementation process, Elevations is now leveraging the platform to grow its retail and business portfolio and gain market share. After beginning its digital transformation journey, Elevations looked for a digital banking vendor to expand and improve its digital banking capabilities. The Alkami Digital Banking Platform provides Elevations' retail and business members with intuitive, self-service tools within a personalized user experience, powered by a dataset rivaling the largest megabanks. Elevations now also benefits from enhanced account opening capabilities, data analytics that can drive improved engagement, and payment fraud prevention. Alkami's comprehensive single platform enables financial institutions like Elevations to drive new account holder growth and cross-sell opportunities while deepening institutional loyalty via reliable, innovative banking services. After completing the implementation process, Elevations' members were able to seamlessly convert to Alkami's Digital Banking Platform, showcasing its effective and user-friendly characteristics. Elevations is also leveraging SavvyMoney, Alkami's marketing and educational capability, to improve members' financial wellness. "As a credit union serving communities in Colorado's Front Range, we must keep pace with a member base that is incredibly technologically savvy and open to innovation. It was imperative for us to work with a vendor who matched our strategic approach and digital vision," said Craig Draayer, vice president of digital transformation at Elevations. "Alkami shares Elevations' user interface and user experience principles and emphasis on member engagement, and we know that with Alkami, we will never be in the position of outrunning our vendor. Due to Alkami's expertise and tried-and-true best practices, this implementation was one of the best I have seen in my career. We look forward to deepening our relationship with Alkami in the future as we roll out more industry-leading offerings for our members." "Elevations understands that business growth is inextricably linked to innovation for financial institutions. We are proud to deliver the digital banking capabilities that will enable them to compete in an expanding market and empower their members with user-friendly solutions to navigate their financial portfolio," said Jeff Chen, vice president, product management at Alkami. "The success of Elevations' launch with our platform also demonstrates the business value of investing in technology with intuitive user experiences, allowing institutions like Elevations to devote more time to personalized human interactions with members focused on their financial journey." Eltropy, the leading digital conversations platform for community financial institutions (CFIs), today announced the launch of Lobby Management – a new capability to create better in-branch experiences. Part of Eltropy’s Unified Digital Conversations Platform, Lobby Management empowers in-branch associates to manage customer flow effectively, all while providing members and customers with the convenience of self-service kiosk technology. Credit unions and banks can make lasting first impressions when members or customers visit their locations and ensure top-notch personalized experiences that cater to their needs and exceed expectations. Key features of Lobby Management include:
“The branch remains an essential member and customer touchpoint in community banking and at credit unions, yet inefficient queues and resource allocation often undermine the experience for both visitors and employees,” said Ashish Garg, Co-founder and CEO of Eltropy. “With Lobby Management, we can make every visit effortless while unlocking many operational efficiencies and equipping staff to serve members better.” Lobby Management integrates seamlessly into Eltropy’s suite of secure, compliant digital conversation tools for efficient branch operations. For more information about Lobby Management visit https://eltropy.com/products/lobby-management/. The introduction of Lobby Management builds on Eltropy's recent impressive growth. Having just passed the milestone of 600 customers, as well as seeing tremendous adoption of its AI-powered products with over 50 CFIs signed up, Eltropy continues to demonstrate its leadership in digital conversations solutions for financial institutions. With the streamlined visitor experiences and optimized staffing enabled by Lobby Management, Eltropy continues to drive innovation while delivering measurable value for community banks and credit unions across the country. The World Young Credit Union Professionals Network (WYCUP) awarded scholarships to six young credit union professionals from four different continents that includes an all-expense paid trip to credit union events in either the Caribbean or United States along with several virtual events throughout 2024. The 2024 WYCUP Scholarships were awarded to:
For the second year in a row, WYCUP offered scholars a choice of attending world-class credit union events in one of two locations:
Three of the 2024 WYCUP Scholars will travel to the Caribbean, while three will head to Boston, USA. Along with the choice of two destination events, scholarship recipients will engage with their global peers during several virtual and in-person events throughout 2024 as WYCUP explores opportunities for greater collaboration on shared global credit union challenges. “It’s exciting to see the WYCUP network expand around the world and provide new opportunities for these scholars to engage internationally,” said Ari Farrell, WYCUP Program Manager. “With a record number of 110 applications from six continents, it was a challenge selecting among so many deserving candidates. Our efforts at WYCUP in the coming year will be in collaboration and cooperation with these six inspiring, emerging leaders to help grow the network and expand opportunities for other young professionals.” The WYCUP Scholarship program is open to nominees who are 40 years of age or younger, have made significant contributions to their credit union or financial cooperative system and have the potential to make a global credit union impact. Since 2001, the WYCUP Network has awarded 111 scholarships from over 52 countries since its inception. WYCUP’s scholarship connects emerging leaders to a world of opportunity through their global network of credit unions and financial cooperatives. Sponsorship and directed donation opportunities are now open for 2024. A huge thank you to our current and past WYCUP supporters: PSCU/Co-op Solutions, Servus Credit Union, and TruStage. ALM First, a strategic partner for depositories offering commission-free, fee-based advice, has now assisted in more than half of all public industry securitizations, playing a role in seven of the 11 such transactions to date. In Q4 2023, ALM First experts worked with Ent Credit Union ($9.8B, Colorado Springs, CO), Valley Strong Credit Union ($4.1B, Bakersfield), and Space Coast Credit Union (SCCU, $8.6B, Melbourne, FL) throughout their recent auto securitization processes. In aggregate, ALM First served as a consultant on five credit union securitizations, and assisted from a capital markets perspective on seven of the industry’s eleven public securitizations completed since the NCUA’s June 2017 Opinion Letter affirming credit unions could conduct such transactions. “Our clients turned to us with a pressing need for liquidity and we responded,” says Emily Hollis, CFA, CEO of ALM First. “By establishing a team at ALM First to work in tandem with internal efforts and hedge the loans, we were able to successfully expedite the securitization process in an advantageous market – getting these deals across the finish line sooner to benefit our clients and their members.” “We believe in acting as a trusted advisor and are proud of the role we’ve played in industry securitizations to date,” says Travis Goodman, Principal of ALM First. “Our team has helped credit unions gain access to a broader investor market and profitably access liquidity. ALM First has also added value by providing insights regarding where to price new loans for sale and executing hedging strategies to lock in margin.” Interested credit unions may learn more about securitization advisory, ALM First’s Loan Transaction Network, and other services by contacting the firm. Advantis Credit Union and Rivermark Community Credit Union, both based in the Portland metro area, have signed a merger agreement and plan to unite as one credit union in the latter part of 2024. The combined organization will become the third largest credit union in the Portland, Oregon area, with 180,000 members, $3.4 billion in assets and 19 branch locations, and have the scale and resources to create substantial impact for the region. The merger has received unanimous support from the board of directors of both institutions (comprised of Advantis and Rivermark members), as well as their respective CEOs and leadership teams. Next, the credit unions are jointly applying for and expect to receive state and federal regulatory approval, followed by a required vote by Advantis members. Following these steps, the legal merger of both credit unions is expected in Q3 or Q4 of this year. Jason Werts, current President & CEO of Advantis, will be the President & CEO of the combined organization. Seth Schaefer, current President & CEO of Rivermark, will serve as Executive Vice President and Chief Impact Officer. Schaefer’s role and his division will be dedicated to delivering sustainable impact to credit union members and the community, with oversight over financial wellness, advocacy and strategy, community impact, communications, and diversity, equity, and inclusion programs and initiatives. The decision to merge was driven by the credit unions’ shared vision to become the leader in fostering financial wellness for their members and the broader community in Oregon and SW Washington, including historically marginalized and underserved communities. By creating a distinctive credit union that will stand out among the 65 total credit unions and banks in the Portland metro area, Advantis and Rivermark also see this merger as an opportunity to do more good. “Combining the forces of two like-minded credit unions that share a purpose-driven mission just makes sense,” said Jason Werts, President/CEO of Advantis Credit Union. “We’re truly coming together to do more good for our members and community.” “Together, we will be in a position to accelerate our member financial wellbeing initiatives and commitment to serving historically marginalized and underserved communities,” said Seth Schaefer, President/CEO at Rivermark Community Credit Union. “In fact, we plan to double down on our commitment in the areas of financial wellness, diversity, equity, and inclusion, and food and housing insecurity,” continued Schaefer. Both credit unions see tremendous benefits for their members and the local community from the merger, including:
The credit unions are defining this as a merger of equals, as both Advantis and Rivermark are financially safe and strong and are combining assets, resources, staff, policies, and programs as equal partners, and in largely equal measure. Both have capital (or a rainy-day fund) exceeding the regulatory standard for “well-capitalized” credit unions, and continually operate within the regulatory definition of “safe and sound” practices. Both also have a strong liquidity position and maintain a balanced loan-to-deposit ratio. The strong safety and soundness of both credit unions reinforced the Boards’ and leaderships’ interest in merging. Advantis and Rivermark plan to retain all their respective employees as they unite. Increased people resources will allow the combined credit union to offer expanded financial coaching and wellness programs, and develop more specialty products and technology for their members. To learn more and see additional details, visit the Merger FAQ page on both credit unions’ websites: www.advantiscu.org/merger | www.rivermarkcu.org/merge University Credit Union Announces Partnership with University of Texas at Arlington Athletics1/17/2024 University Credit Union (UCU) is proud to announce its partnership with and dedicated support for University of Texas at Arlington (UTA) Athletics. The partnership expands membership access to UTA students, employees, alumni, and families affiliated with the second largest school in the UT system and signifies an opportunity for UCU to expand its continued support of higher education and positively impact university communities in other regions. With UCU’s distinguished history of support within the University of California (UC) system, the partnership represents an important opportunity to bring UCU’s expertise to Texas and promote its university communities’ financial well-being and long-term success. Given UCU’s experience exclusively serving universities, the partnership is a perfect match. “We couldn’t be more excited to team up and win with the UT Arlington Athletics Department,” said Dr. David Tuyo II, CEO and President of University Credit Union. “This partnership further represents our strength and commitment as the leading financial partner with universities across the country.” The partnership includes sponsorship of the UT Arlington Mavericks, an official debit and credit card of UTA Athletics (coming in late 2024), and a strong focus on financial well-being for students, employees, faculty, alumni, and retirees of UT Arlington. “We’re thrilled to begin what we hope will be a long and successful partnership with University Credit Union,” said Jon Fagg, UTA Director of Athletics. “UCU has already invested with the Western Athletic Conference, and we’re looking forward to further enhancing UCU’s mission through a collaborative relationship which will benefit all Maverick supporters and provide them with valuable and tangible financial services.” ALM First, a strategic partner for depositories offering commission-free, fee-based advice as a fiduciary, officially launched a new subsidiary this month, ALM First Executive Benefits, LLC. The expansion of services to include unbiased plan design, consulting, plan audits, and seamless administration and plan servicing was driven by growing client demand. “In our discussions with hundreds of depositories nationwide, it became clear that common, cookie-cutter executive benefits plans weren’t meeting the evolving needs and goals of forward-thinking financial institutions,” says Mike Ensweiler, President of ALM First Executive Benefits, LLC. and Principal of ALM First. “ALM First Executive Benefits was created to fill those gaps and benefit the industry.” Through a comprehensive review of priorities and agnostic evaluation of a wide range of structures, ALM First Executive Benefits strives to reduce risk and provide efficient solutions designed in the best interest of all stakeholders. Interested credit unions should visit benefits.almfirst.com to learn more about the firm’s hands-on approach to delivering a bespoke plan design customized to meet organizational and recipient performance objectives. “At ALM First, we’re focused on building trust and putting the best interests of our clients above all else,” says Emily Hollis, CFA, CEO of ALM First Group. “Our newest subsidiary, ALM First Executive Benefits, is leading with education and transparency to craft personalized experiences that empower our clients to make informed decisions about their executive benefits.” The new subsidiary recently launched its own website, benefits.almfirst.com, and began building its team last year with plans to expand further in the coming weeks. In 2023, ALM First welcomed Tom Sievewright back as Director of Executive Benefits to help expand the firm’s capabilities and prepare for the launch of its new subsidiary. |
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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