PSCU, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, today announced that Beacon Federal Credit Union (Beacon FCU) has selected the CUSO for credit and debit card processing services as well as contact center support. Based in East Harris County, Texas, Beacon FCU was initially chartered as DuPont La Porte Federal Credit Union in 1949. Today, the credit union holds more than $190 million in assets and remains committed to providing exceptional products and services that assist its members in achieving their financial goals. Beacon FCU embodies the "people helping people" credit union philosophy by contributing to local school districts as well as civic and nonprofit organizations that serve the communities in which its members and employees live and work. When seeking a new card products service provider, Beacon FCU prioritized a mutual focus on delivering exceptional member experiences. The Texas-based credit union previously worked with PSCU for Bill Pay services and support. In PSCU, the Beacon FCU team found a trusted partner with extensive knowledge and experience in the credit union industry, as well as a shared commitment to service excellence and continuous innovation. “PSCU brings the high caliber of expertise and trustworthiness that Beacon FCU values in its partners, which motivated our decision to select the CUSO for card processing solutions and contact center support,” said Jack McAdoo, CEO and president at Beacon FCU. “As a result of this partnership, we are well-positioned to offer employees the tools and more modern systems needed to provide our members enhanced contact center experiences and industry-leading debit and credit card features.” PSCU will begin providing contact center services in February 2023 and credit and debit processing support in 2024 to more than 15,000 Beacon FCU members. “Beacon FCU’s proven dedication to serving local communities and empowering its members to achieve their financial goals resonates with PSCU’s values,” said Scott Wagner, EVP, chief revenue officer at PSCU. “We look forward to putting our best-in-class solutions to work to deliver highly functional, reliable and secure programs to Beacon FCU’s valued members.”
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As a proud financial institution in the Yakima Valley, committed to making the community a better place to live and work, Solarity Credit Union donated $124,700 to community causes and events in 2022. In addition, Solarity employees donated 476 volunteer hours to local, regional and national organizations along with money from their paychecks to their chosen community partner. As a result of those financial donations from employees, Solarity Credit Union leaders presented checks to key community partners in the past few weeks including: · $5,510 to Yakima Humane Society · $4,523 to Mercy Housing · $3,677 to YWCA Yakima · $3,166 to ShelterBox · $3,000 to United Way of Central Washington “So much of our community involvement is rooted in our core values of passion, impact and courage,” says Mina Worthington, Solarity’s president and CEO. “Our employees are steadfast in their commitment to our community. As an organization, we are committed to making the Yakima Valley a better place to live and work through our support of causes that have meaningful impact on people's lives.” In September of 2022, Solarity was proudly named the Yakima Valley Habitat for Humanity’s Community Partner of the Year. The Golden Hammer Awards ceremony recognizes those who make it possible for Habitat to serve people in the Yakima Valley in need of safe and affordable housing. In March of 2022, more than a dozen Solarity employees donated 92 hours to help Yakima mother, Kristen Smith, build her future home for herself and her three, high-needs children. Because of the time needed to care for her children, Ms. Smith was struggling to donate the required hours to be eligible for the home. Solarity proudly sponsors many community events throughout the year, including the YWCA Annual Leadership Luncheon, Downtown Yakima Mile, Fresh Hop Ale Festival, Central Washington Fair, the Holiday Light Fest and more. Beyond sponsorships, volunteers hours and donations, Solarity’s larger community impact included $232 million dollars in financing in 2022, helping people buy homes, cars, recreational vehicles and more. You can view Solarity’s full 2022 contributions in our inaugural Community Impact Report. Ascend Federal Credit Union Donates $115,585 to Second Harvest Food Bank of Middle Tennessee2/7/2023 Ascend Federal Credit Union, the largest credit union in Middle Tennessee, announced today that it has donated $115,585 to Second Harvest Food Bank of Middle Tennessee to help individuals and families have access to food this holiday season. The donation, one of Ascend’s largest to Second Harvest Food Bank this year, includes a $50,000 cash gift, $60,000 to purchase a 53-foot refrigerated trailer, and $5,585 donated by credit union employees and members. The refrigerated trailer will help expand Second Harvest’s distribution operation, which includes their Grocery Rescue Program. This program rescues, sorts, and distributes safe to eat frozen meat, dairy, and produce from nearly 314 grocery stores and food donors that would otherwise be destined for a landfill. This rescued food contributed to the approximately 35 million meals provided by Second Harvest last year to our neighbors in need across Middle and West Tennessee. “We are truly humbled by Ascend’s continued support during the holidays,” said Nancy Keil, Second Harvest president and CEO. “Food insecurity is a very real problem in Middle and West Tennessee, and surging inflation this year, especially for food and grocery items, has placed a severe financial burden on many families. Ascend’s generous gift will help us feed thousands of people who otherwise would not enjoy a special meal this holiday season.” “Giving back to the communities we serve is at the heart of our mission,” said Ascend President and CEO Caren Gabriel. “Ascend is proud to partner with the dedicated team at Second Harvest Food Bank who have made a tremendous effort to ensure that all Middle Tennesseans have access to the food they need.” To raise awareness about food insecurity and maximize contributions during the holidays, Ascend encouraged employees and members to donate to Second Harvest via an online portal provided by the credit union. Credit union employees and members raised $5,585 via this method, which will pay for more than 23,340 meals for Middle Tennesseans. Ascend employees also held a corporate-wide food drive during November and collected 7,203 non-perishable food items for Second Harvest. Ascend, its employees and its members have been participating in food drives and raising money for Second Harvest since 2018. During the past five years, they have donated more than 40,000 items and raised more than $335,301. Talent development leader CUES is paying tribute to its late president/CEO with the John Pembroke Catalyst for Change Award, formerly the DEI Catalyst for Change Award. The award’s prize package has also been enhanced to include a seat, including travel costs, at the prestigious CEO Institute I: Strategic Planning, at The Wharton School, University of Pennsylvania, valued at nearly $10,000. “I can’t think of a more fitting tribute to honor John than by supporting talent development and DEI efforts, both things he was passionate about,” said Jerry Saalsaa, CUES interim CEO, speaking at CUES Symposium in Maui, Hawaii on Monday. “We selected CEO Institute I as part of the prize package because John was a Wharton graduate, and CEO Institute helps new and aspiring CEOs become great leaders—which was important to John. Additionally, we’ve started a scholarship fund to sustain this program and support the many future leaders who will benefit from attending CEO Institute I.” The John Pembroke Catalyst for Change Award will be presented to a credit union that has demonstrated sustained support for advancing DEI in their workplace, raised awareness of workplace diversity and inclusion issues, been a catalyst for change regarding workplace DEI, and/or supported positive change within the industry, their organization, or their community. CEO Institute I: Strategic Planning is the first segment of the esteemed three-part executive educational program which also includes CEO Institute II: Organizational Effectiveness at the Samuel Curtis Johnson School of Management at Cornell University, CEO Institute III: Strategic Leadership Development at Darden School of Business, University of Virginia, and the new CEO Institute: FinTech, at Cornell SC Johnson College of Business, Roosevelt Island, NY. The John Pembroke Catalyst for Change Award joins a roster of other prestigious awards from CUES including:
Winners will be recognized during the CUES Awards Ceremony, happening October 19. CUES members can register here. The nomination deadline for all awards is April 21. To contribute to the John Pembroke Catalyst for Change Award scholarship fund, reach out to Tony Hill, CUES SVP/Chief Marketing Officer, at tony@cues.org. Visit cues.org/Awards to learn more. Learn more about CUES at cues.org. Co-op Solutions is introducing its Strategic Provider Program, giving credit unions access to pre-vetted, best-in-class products and services outside of Co-op’s core offerings, while also helping to streamline their procurement processes. “Through the Strategic Provider Program, credit unions can lean on both the expertise and scale of Co-op as a trusted business partner,” said Dean Michaels, Chief Strategy Officer for Co-op. “We are dedicated to listening to and anticipating the needs of our clients in order to provide the right solutions at the right time to help them grow and thrive. We have done the leg work to help save them time and money. We also offer peace of mind knowing that Co-op has rigorously vetted and selected each approved provider for quality, stability and soundness.” Origence and SavvyMoney are the First Providers Participating in the Program Collaborating with best-in-class providers – particularly fintechs – and helping credit unions better compete in today’s demanding marketplace are at the heart of the Strategic Provider Program. Co-op plans to continually expand its roster of approved providers, with the first two partners in the digital loan and account origination as well as financial wellness marketplaces already on-board: Origence (origence.com) has a long history serving the credit union movement and today supports more than 1,100 financial institutions with its enterprise technology solutions. Origence arc OS and arc DX offer credit unions a comprehensive loan and account origination solution. The solution is designed to improve the on-boarding experience for both credit unions and their members across every phase of the origination journey – from a user-friendly application process with field pre-population, to automated real-time risk decisioning, digital document upload, eSignature and real-time funding. “Co-op has put together a tremendous program both for its credit union clients and business partners,” said Tony Boutelle, President/CEO of Origence. “As a CUSO, Origence knows how important a robust digital origination experience is for credit unions. With Origence arc OS and arc DX, we deliver a configurable and easy-to-implement platform, extensive integrations with core systems and a frictionless end-to-end origination process.” SavvyMoney (savvymoney.com) helps members understand their credit score, factors that impact it, what they can do to strengthen it, and see personalized loan and offer recommendations. SavvyMoney partners with more than 1,000 financial institution clients and seamlessly integrates with most digital banking providers, covering 97 percent of the credit union market. “Co-op is a well-respected voice and leader in the credit union ecosystem, and we are proud to enter into this partnership.” said JB Orecchia, President/CEO of SavvyMoney. “SavvyMoney’s solutions will offer Co-op clients valuable credit score education and monitoring, share of wallet data and personalized offers. As a result, credit unions will increase engagement and deepen overall member relationships.” “Co-op’s Strategic Provider Program is win-win for everyone,” said Michaels. “For the providers, it offers an unparalleled business opportunity to grow by exposing their brand and best-in-class solutions to Co-op’s base of nearly 3,000 credit union clients. For credit unions, they gain awareness of and access to these providers’ services very efficiently and at preferred commercial terms. And, for Co-op, we can extend our influence beyond our ecosystem of payments technology and offer what our clients need – fulfilling our role as a cooperative resource toward the mission of ‘People Helping People.’” How to Participate – As a Provider and as a Credit Union Potential participating providers can learn more about the Co-op Strategic Provider Program by visiting the webpage here. Co-op clients interested in connecting with program providers can visit the webpage here. Clients can explore each provider’s profile page to learn more about their solutions and submit an inquiry to hear about preferred commercial terms to which they may be entitled. After a few years of sustained growth, Selfreliance Federal Credit Union ($830 million assets; 30,795 members; Chicago, IL) recognized the need for an innovative core processor built on modern technology. Selfreliance FCU has selected Corelation’s KeyStone to drive efficiency throughout their organization to better serve their Ukrainian American community, particularly as they welcome new members who have recently been displaced from Ukraine. KeyStone’s ‘More in the Core’ functionality will offer Selfreliance Federal Credit Union ease-of-use for their employees and enable them to predict their budgets more accurately without the need to account for additional expenses for add-on modules. “We chose Corelation because KeyStone is an out-of-the-box solution and the open API [KeyBridge] will ensure lasting relevance into the future as we can integrate with our choice of third-party vendors,” shared Selfreliance Federal Credit Union VP of Technology Ivan Buryadnyk. “KeyStone will be beneficial for our employees and members alike; the intuitive navigation and member-centric system will streamline our processes and reduce wait times in our branches.” Some of their goals of implementing a new core are to eliminate manual processes and simplify procedures such as new account opening. Once on KeyStone, Selfreliance Federal Credit Union will be able to automate tasks and have their account opening process all in one solution with a single sign-on, enabling employees to open new accounts faster and shorten lines for their members. “We want a core with positive momentum in gaining new clients and advancing their technology,” explained Selfreliance Federal Credit Union CEO Vitaliy Kutnyy. “Through our search and due diligence, we heard positive feedback on the partnership with Corelation from vendors and recently converted credit unions running KeyStone. We love Corelation’s culture and the ability to have open communication with their leadership and employees.” Selfreliance Federal Credit Union is scheduled to convert in December 2023. Switching to KeyStone will open the door to integration with more third-party vendors and to their post-conversion plans to enhance their digital banking and card processing solutions. “As we welcome Selfreliance Federal Credit Union, we look forward to supporting their initiatives to provide fast, seamless service to their membership,” noted Corelation President Rob Landis. “We commend Selfreliance FCU’s commitment to helping those who are affected by the crisis in Ukraine, both within their local community and through their relief fund providing aid to people in Ukraine.” ValleyStar Credit Union announces Katy Elizondo-Eastridge as its vice president of commercial lending to develop and execute strategic plans for commercial lending that minimize risk and ensure that policies align with company objectives. Katy began her career as a member service officer at ValleyStar six years ago. She was promoted to business development specialist in 2019, then to commercial lender in 2021. Katy played a critical role in the success of the commercial lending department, increasing the commercial portfolio to over $100 million and illustrating exemplary member service. “Katy has had an exceptional career, and we’re confident that her expertise and dedication to our goals will help us accomplish our vision of being the best in service and convenience,” said Mike Warrell, ValleyStar CEO. “We know that we can count on her to ensure lending satisfaction to our members while prioritizing the wellbeing of her team members. She is a great asset to ValleyStar Credit Union.” Katy is active in the community, serving as a member of the Danville After Hours Rotary and WeLead a women’s organization within the Danville Chamber of Commerce. When she’s not working, you can find her kayaking, going to concerts or at the local coffee shop with her son on Sunday mornings. NINE Design + Homes, the Detroit-based retail store and design studio behind HGTV’s Bargain Block show, has partnered with Community Financial Credit Union (CFCU) to help more Michiganders attain affordable housing. The recently launched partnership is dedicated to helping first-time, oft-overlooked homebuyers navigate Detroit’s changing real estate landscape. Keith Bynum and Evan Thomas of NINE Design + Homes host Bargain Block, an HGTV program in which the partners restore rundown or abandoned Detroit homes into affordable, stylish starter homes for first-time buyers. Bynum and Thomas have renovated over 40 homes with more than 32 of them appearing on Bargain Block, which is in its second season on HGTV. To expand the impact of Bynum and Thomas’ efforts, they have selected metro Detroit-based, $1.5 billion CFCU as their official financing partner. The partnership’s shared vision is to ease the barriers to homeownership for first-time homebuyers. With Bynum and Thomas’ expertise in preparing homes for market, blended with CFCU’s commitment to financing that serves the needs of first-time homebuyers, the partnership plans to pursue projects over the coming months that will address the current pain points in metro Detroit’s housing market. The partnership will also explore a possible charitable foundation. “As Detroit’s single-family home market has started to cool, it is allowing many first-time homebuyers previously priced out of the market to revisit their goal of achieving homeownership,” said Bynum and Thomas. “With the power of a financial partner like CFCU by our side, we’re eager to take our efforts to the next level. By elevating our abilities to bring the dream of homeownership to more people, it will positively impact our community and give a boost to metro Detroit’s economic development efforts as a whole.” As a first step, CFCU has developed a special purpose credit program called Path to Homeownership. The credit union developed the program for buyers who may not qualify for conventional loans, with unique elements including no minimum credit score, low or no down payment, consideration for consistent rent payments, and valuation options. Path to Homeownership emphasizes fast decision-making, understanding the challenges many homebuyers face with closing on mortgages given the often-lengthy approval process amidst market or valuation fluctuations. This latest product builds upon CFCU’s offerings to help buyers secure financing and homeownership, including its signature 0% down payment program. “As a credit union, our approach to underwriting puts the borrower's best interest first. We believe in walking with our members toward their impossible dreams, and we know that for many having a home where people can spend time and create memories with those they love feels impossible today. We commit to changing that,” added Tansley Stearns, president & ceo of Community Financial Credit Union. “We’re honored to serve as the financing partner for the good work that Keith and Evan are doing for the people of Detroit. Alongside Keith and Evan, we’re here to think boldly and ensure more Michiganders' visions of homeownership come true.” The partnership will celebrate its launch with CFCU marketing campaigns featuring Bynum and Thomas, three “Keith & Evan” artistic designs for CFCU debit cards, featuring the duo as guests on CFCU’s recently launched podcast - Despite Impossible - and more. River City Federal Credit Unions Opens ‘The Neighborhood Place Branch’as First ‘Mini Branch’2/2/2023 River City Federal Credit Union is inviting San Antonio area leaders, as well as general members of the public, to the grand opening of its first ‘mini branch’. The credit union will celebrate the opening of this unique community-based location in The Neighborhood Place. The event will take place from 10 a.m. to noon on Friday, February 10, 2023, at The Cafetorium, located within The Neighborhood Place, 3014 Rivas St. San Antonio, TX, 78228. River City FCU’s Chief Executive Officer and President, Jeff Ivey, will be in attendance discussing the positive financial impact this center will provide in neighboring communities. In addition, there will be a free seminar on Financial Wellness to discuss budgeting, savings, and healthy credit scores. “My hope is that this branch will increase financial access and break down barriers for those in surrounding communities, ultimately, providing financial opportunities for our neighbors and having a positive impact in San Antonio” said Ivey. “River City FCU is committed to providing safe, affordable, financial services and products to all, regardless of citizenship status.” Here is a more in-depth look at the three topics that will be covered in the FREE seminar:
To RSVP for this event, visit https://www.rivercityfcu.org/rcityfcu#custom-tab3. Origence Lending Services, a division of Origence, announced record results for 2022, capping an 83% increase over 2021 and a 266% increase in loans funded over 2020. The provider of scalable outsourced solutions for credit unions ended the year with 154 clients, up from 105 in 2020. In the same period, the team grew from 95 to 275 members with an ability to flex with client needs while operating at scale. “Helping credit unions succeed is why we created Origence Lending Services. We understand that it is about the member, and I am so pleased to say that we helped more than 475,000 credit union members with financing in 2022,” said Brian Hamilton, president of Origence Lending Services. “As the lending environment changes, we have added turnkey outsourcing capabilities—and partnerships—to help credit unions continue to thrive in 2023.” In 2022, Origence Lending Services launched HELOC and direct consumer loan support, as well as underwriting in eight different loan origination systems. Additionally, the company strengthened its partnerships with several auto refinance brokers, Credit Union Leasing of America (CULA), LoanStar Technologies retail and home improvement point-of-sale financing, and Lenders Protection by OpenLending, to allow credit unions to lend more safely on near-prime and non-prime loans. With customizable workforce augmentation solutions that can be implemented quickly and cost-effectively, Origence Lending Services is uniquely positioned to help credit unions navigate changes and product exploration. “We can help credit unions solve the challenges of operating in uncertain economic environments,” added Brian Hamilton. “For many of our clients, we serve as a ‘virtual’ workforce, perfectly equipped to manage the changes in skilled staffing needed to respond to shifting market conditions. Now is the best time for credit unions to explore new products and augmented staffing as we build out flexible, scalable models with less downside risk associated with employee overhead.” |
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
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