NYMBUS®, a leading provider of banking technology solutions, today introduced SMB Launch for Credit Unions. An extension of the company’s award-winning Launch solution, Nymbus’ latest offering equips credit unions with a lightweight, cost effective toolbox of state-of-the art technology and services catered specifically to meet the needs of today’s underserved small and medium sized businesses.
Significant drivers of economic growth, job creation and new innovation in the United States (US)—SMBs represent 99.7 percent of all US businesses and almost half of total private sector employment. Meanwhile, a recent Forbes article states only one third of SMBs feel their primary bank understands their needs or appreciates their business.
“In 2021, the Nymbus CUSO prioritized a national listening tour to connect and hear from more than 50 credit union leadership teams. One of the critical opportunities we identified from these conversations is that by finding the right solutions to help SMBs thrive, we can support members and our larger communities with greater impact,” said Nymbus CUSO President John Janclaes.
With its complete suite of banking technology, tools and on-demand services, Nymbus Launch has gained tremendous momentum for moving any size financial institution forward. Available to be easily implemented, Nymbus’ newest SMB Launch offering is a full digital solution with business checking, spending accounts, and unsecured business lending running in parallel with existing infrastructures.
“After hearing from the credit union leaders, we moved quickly to create an experienced roundtable of credit union executives and experts to understand the most impactful products and services for SMB members,” furthered Janclaes. “Because speed to market is critical, our team is incredibly proud to now introduce SMB Launch for Credit Unions. Those willing to take the leap and capitalize on this capability for intentional innovation will be rewarded with improved customer satisfaction, higher engagement and deeper, more profitable SMB relationships.”
Ascend Federal Credit Union Promotes Renee Crosslin toVice President of Talent Development and Culture
Ascend Federal Credit Union, the largest credit union in Middle Tennessee, announced today that it has promoted Renee Crosslin to vice president of talent development and culture. In her new role, Crosslin, who continues reporting to Chief Human Resources Officer Peggy Stubblefield, will be responsible for helping oversee the credit union’s leadership development, talent management, and culture and inclusion initiatives.
“Renee has been instrumental in retaining and developing exceptional talent and helping build a great company culture for our employees,” said Stubblefield. “This promotion recognizes her many contributions and success in enhancing our training and culture programs. Renee is a valuable member of our team, and we look forward to her ongoing contributions to help our credit union continue growing in Middle Tennessee.”
Crosslin has 22 years of training and financial services experience. She joined Ascend in 2008 as a sales and service trainer and was promoted in 2013 to assistant vice president of training and development. In that role, she helped plan, design and implement training and development programs. Before that, Crosslin spent eight years in sales and service roles with financial services companies in the South.
“Since joining Ascend, I have been fortunate to work with an outstanding leadership team that has been dedicated to building a thriving company culture,” said Crosslin. “Our employees are the key to Ascend’s growth and success, and are essential to providing superior service to our members. I am grateful to Peggy for this opportunity to further enhance our training and professional development programs.”
Crosslin earned her Master of Business Administration in data analytics and Bachelor of Arts in management and leadership from Trevecca Nazarene University in Nashville.
A Nashville native and longtime resident of Manchester, Crosslin is married and has two children. Outside of work, she enjoys spending time on the lake and supporting her children’s many activities.
The Summit Federal Credit Union Partners with Credit Union Student Choice to Offer Innovative Student Lending Solutions
Credit Union Student Choice, the leading provider of higher education financing solutions to America’s credit unions, announced that it has partnered with The Summit Federal Credit Union ($1.2 billion; 89,036 members; Rochester, New York) to offer its members education lending solutions for both private student loans and student loan refinance.
“Since 1941, The Summit has been focused on supporting and contributing to the communities we serve,” said Mark Gregory, Vice President of Lending for The Summit FCU. “We have offered private education financing options to our members in the past but are looking forward to working with Student Choice to deliver a broader scope of private student lending solutions to our membership. Student Choice focuses on innovative solutions, personalized service and financial education just as our credit union does, and we are excited to partner with them.”
The Summit FCU will offer in-school financing for both undergraduate and graduate students, as well Student Choice’s refinance product.
“Student Choice provides educational webinars, one-on-one support, and individualized counseling to help borrowers truly understand the lending process,” Gregory added. “Paying for college or repaying student loans can be confusing and overwhelming for families; the tools Student Choice provides help make the process easier to understand so students can make responsible choices about paying for college.”
“Consumers have faced a great deal of upheaval in the past few years and need trusted, local financial institutions they can rely on,” said Scott Patterson, President and CEO of Student Choice. “Like The Summit and all our credit union partners, Student Choice focuses on fair-value lending that can build lifelong member relationships. In our case, that means convenient education funding solutions paired with personalized resources to help borrowers make educated decisions today and in the future.”
Student Choice enables credit unions of all sizes to make private education loans that are held on their own balance sheet. Since launching in 2008, the CUSO has helped nearly 300 partner credit unions originate more than $4 billion in private education loans to 115,000 families.
CUCollaborate is proud to announce that David Baumann, longtime Washington reporter and founder of the industry news website Washington Credit Union Daily, will be joining the team as a writer and editor.
In his new role, David will continue to produce the same great work reporting on regulations, legislation and political developments affecting credit unions he has long put out daily on his own site. All of his future articles will now appear exclusively on the CUCollaborate Blog, which will naturally shift to a more frequent publication schedule with a finer eye on industry happenings in the capital.
David brings a wealth of experience to the company. Prior to launching his own outlet, he spent more than four years as Washington correspondent for the Credit Union Times, and has also written and edited for many of D.C.’s leading publications, including CongressDaily, National Journal magazine and Congressional Quarterly Weekly across a career dedicated to journalism.
In 2005, he was part of a team honored with a National Headliner Award for a special issue of National Journal on “The State of Congress,” and holds a B.A. in political science from The George Washington University to go along with an M.A. in journalism from Indiana University.
“I couldn’t be happier to be joining CUCollaborate,” said Baumann. “I love covering the credit union industry and my work will now be able to reach a larger audience through a company that truly cares about the industry and its well-being. I can't wait to get started.”
CUCollaborate Founder and CEO Sam Brownell was likewise thrilled and eager for the partnership to begin. “Having David on board will allow us to stay on top of day-to-day events and produce informative content on an entirely new level,” he explained. “Along with our readers, I’m sure we as a company will also learn a ton from having him on the team.”
One Detroit Credit Union, with $56 million in assets and 11,000+ members, announced today that it will launch a new mobile banking app with its long-standing partner and digital banking provider Bankjoy.
Mobile banking 2.0 represents a significant upgrade to the credit union’s current mobile banking platform. Both based in Detroit, One Detroit Credit Union has partnered with Bankjoy for its online and mobile banking technology since 2017 and is continuing that partnership to elevate the member experience and expand services to underserved residents.
Created by credit union executives, Bankjoy delivers modern banking technology, including mobile, online, e-statements, online account opening, online loan application, and conversational AI to banks and credit unions of all sizes. The platform features cutting-edge integrations to quickly upgrade the digital baking experience and provide beautiful products with advanced features, simple navigation, and a modern look and feel. Additionally, Bankjoy streamlines payments, including A2A and P2P, to deliver a true, end-to-end digital service ecosystem.
Among the credit union’s upgrades, which will immediately be available to members when the app launches, are:
Members currently using online and mobile banking will be able to keep their existing login when the new app launches.
Minority-led One Detroit Credit Union is one of six credit unions to recently renew its partnership with Bankjoy. Formed in 1935 as the Detroit Newspaper Industrial Credit Union, One Detroit initially served people who worked in the newspaper industry. In the 1970s, it changed its name to be more inclusive of other industries such as radio, television, printing and publishing. The credit union continued to expand, helping to fill the financial services gap within its communities. Today, it aims to unify the community of Detroiters by delivering outstanding services backed by modern banking technology like Bankjoy.
Joumana Mcdad, Executive Vice President of One Detroit, said, “A key part of our mission is to help people in our community who have been overlooked by the mainstream banking system by providing them with credible, fair and reasonably priced financial products and services. By working with Bankjoy, we are maintaining that commitment, ensuring that our members can bank how and when they want through the best digital tools available. We look forward to continuing our partnership with the Bankjoy team.”
“As fellow Detroiters, we have tremendous admiration for One Detroit’s mission and their effort to positively impact and change the lives of our shared community,” said Michael Duncan, CEO of Bankjoy. “By bringing together industry leaders and modern digital technology, we can drive greater financial inclusion of underserved individuals, especially in Detroit. We are proud to be a part of One Detroit’s journey and support the launch of their next mobile banking platform.”
Detroit continues to be a major focus for improving financial inclusion. According to the FDIC’s “How America Banks” survey, the number of minority households without a bank account significantly outweighs those from non-minority households. In fact, the survey found that 13.8% of Black and 12.2% of Hispanic households were unbanked, compared with just 2.5% of white households.
To support efforts, the Federal Deposit Insurance Corporation’s (FDIC) #GetBanked campaign was expanded to reach Detroit, as well as Dallas and L.A., after successful campaigns in other cities last year. Additionally, the Office of the Comptroller of the Currency (OCC) launched Detroit REACh last month to organize and initiate formal efforts to promote greater access to affordable homeownership, enhance small business financing, and expand access to credit for economically disadvantaged and underserved communities in Detroit.
One Detroit Credit Union’s new mobile banking features will launch on March 28, 2022. For more information, visit OneDetroitCU.org/One2GO.
In the spirit of making a difference during a time of global tragedy, the California and Nevada Credit Union Leagues has pledged $100,000 toward Ukrainian financial relief efforts to help sustain credit union employees and members who are most in need as the current crisis unravels across that country.
“From thousands of miles away, we stand with our movement and remain committed to supporting Ukraine’s humanitarian plight as local credit unions, staff and members are besieged by a lack of food, water, housing, and other supplies and operational resources,” said Diana Dykstra, president and CEO of the Leagues. “Our trade association’s daily mission to help credit unions change people’s lives is emboldened during times like these, no matter where the devastation is taking place and help is needed.”
The Leagues’ contribution to the Ukrainian Credit Union Displacement Fund will directly support mitigation of both short and long-term impacts to Ukraine's credit union system, including displaced credit union employees, members, and challenges to the country's credit union system over the long term. The California Credit Union League pledged $75,000 and the Nevada Credit Union League pledged $25,000.
The credit union system — including state leagues, industry partners, and locally headquartered credit unions across both states and the nation — has a long history of working together to support communities during disasters at home and abroad. Brought on by war, the current emergency in Ukraine is no different as it affects residents, workers, and their families through hardship and isolation.
SAFE CU CEO Dave Roughton and Clark County CU CEO Matt Kershaw, respective chairmen of the California Credit Union League and Nevada Credit Union League, said their boards are honored to participate in such an admirable purpose. They both noted that Ukrainian credit unions and members are enduring a painful and unfortunate period in history, and how credit union leaders will always band together to go above and beyond in assisting their colleagues and peers wherever possible during times of affliction and misfortune.
“Credit unions at their core are about people helping people, wherever they are,” Roughton said. “The California Credit Union League stands united with credit unions across the United States in assisting our fellow credit unions and their employees in Ukraine who are doing all they can in horrifying conditions. California has a large Ukrainian population, and we know many are concerned about their families and working diligently to provide them support. We are honored to be able to support their cause.”
Kershaw agreed. “Member communities are the backbone of all credit unions worldwide,” he said. “In addition to the Nevada Credit Union League’s effort, we have also asked our own credit union’s members and employees to join in this effort to help bridge the gap for our fellow Ukrainian credit union members.”
In addition to the California League and Nevada League, credit unions from both states are stepping up to donate to the fund. So far they include California CU, Patelco CU, SchoolsFirst FCU, SESLOC FCU, Stanford FCU, and Yolo FCU (California credit unions); and Greater Nevada CU (Nevada credit unions). Several others in both states are also considering donating. Combined with donations from across the nation, the credit union movement’s generosity has helped push the Ukrainian Credit Union Displacement Fund's total balance higher week by week, with financial support reaching more than $453,500 as of March 22.
The displacement fund was recently created by the Worldwide Foundation for Credit Unions (WFCU) in partnership with the World Council of Credit Unions (WOCCU) to send support to Ukraine's credit union system. World Council is leveraging its global network to identify immediate priority areas where funding can be used.
The Leagues would like to thank and applaud credit union leaders, staff, and volunteers across California and Nevada who have upheld a longstanding mission of people helping people by donating to this worthy cause.
“This is just one example of why credit unions exist — to take care of their members and so many others within the communities they serve,” Dykstra added. “We are proud of our California League and Nevada League boards and our credit unions, and we are honored to be involved in such a noble worldwide effort.”
Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end fintech and regtech solutions, has been recognized for the second consecutive year on Forbes’ list of America’s Best Midsize Employers. Presented by Forbes and Statista, CSI ranked 71st for this prestigious award highlighting the 500 organizations that employees most confidently recommend.
Founded in 1965, CSI employs more than 1,200 individuals nationwide, and strives to provide long-lasting, rewarding careers. The organization is committed to maintaining a diverse, people-centric culture that encourages each employee to pursue learning opportunities, broaden their skillsets and advance in their careers.
Additionally, CSI plays an active role in its local communities and fosters a spirit of service through its company-wide volunteering initiative, CSI Cares. The initiative gives employees paid time off to volunteer in a charitable capacity, such as participating in community service or supporting a nonprofit.
“Since CSI’s inception, we have worked tirelessly to build a company culture that makes every employee feel valued,” said David Culbertson, CSI’s president and CEO. “While many employees view their work environment differently today, in light of the pandemic, CSI’s commitment to life/work balance and treating all employees with dignity and respect has not. CSI’s inclusion on Forbes’ Best Midsize Employers list demonstrates that our employees recognize our commitment to their professional and personal development.”
To determine the list, Forbes and Statista surveyed 60,000 Americans working for companies with at least 1,000 employees. Participants across 25 industry sectors were asked to rate their willingness to recommend their employers to friends and family, and to nominate organizations other than their own that stood out positively or negatively. The 500 companies that received the most recommendations were recognized on Forbes’ list of America’s Best Midsize Employers for 2022.
For more information about America’s Best Midsize Employers, including full eligibility criteria, visit www.forbes.com.
Glia, the leading provider of Digital Customer Service (DCS), today announced $45M in Series D funding led by New York based-global venture capital and private equity firm Insight Partners and joined by existing investor Wildcat Capital Management as well as new strategic investors, including RingCentral Ventures™. This latest round of financing brings Glia's total funding to $152M and its valuation to over $1B.
The additional capital will be heavily allocated toward research and development, helping fuel Glia’s proven decade-long commitment to ongoing innovation in Digital Customer Service. Glia plans to further invest in advanced AI, analytics, messaging, voice, and video capabilities. The results will improve the daily lives and digital expectations of consumers and customer service employees alike. Additionally, the capital will aid in the acceleration of Glia’s geographic footprint in order to deliver the benefits of Digital Customer Service to financial institutions all over the globe.
“The future of customer service is digital, and those that have yet to take steps to modernize their support and engagement strategies are already behind,” said Dan Michaeli, Co-Founder and CEO at Glia. “We’re thrilled by our investors’ confidence reflected in the round’s valuation, recognizing that we’ve only scratched the surface of what Glia can accomplish. Our rapid growth and successful relationships with financial services companies of all types demonstrates the urgent need for Digital Customer Service. As we build upon a decade of innovation, this capital will further extend our reach and help even more businesses across the globe reimagine how they connect with customers digitally.”
“As enterprises digitize processes and services across the board, digital communication is inevitable, and Glia is leading the way in digitally transforming customer service,” said Lonne Jaffe, Managing Director at Insight Partners. “We’re investing more into the company because of its extraordinary growth and momentum and the enormous size of the market opportunity. Most people haven’t yet experienced first-hand the magic and power of Digital Customer Service as consumers, which stems from Glia’s proven ability to create seamless, uninterrupted experiences across CoBrowsing, voice, chat, and video. We’re excited to once again support Glia as they deepen their investment in R&D and continue to set the standard for Digital Customer Service across the globe.”
ValleyStar Credit Union announces Ben McBride as its senior vice president of IT. He joins the executive team, working alongside his colleagues to build innovative and secure member-focused service.
Ben began his career at ValleyStar Credit Union in 1999 (then known as the Martinsville DuPont Credit Union) as an IT specialist. Seizing opportunities as they arose brought Ben to his current role as SVP of IT. Ben and his team will be a driving force of AI, cybersecurity and ensuring ValleyStar is on the leading edge of breakthrough technologies.
“Our ValleyStar mission is ‘Employees First. Members Benefit.’ Ben is the perfect example of how our employees can build careers at ValleyStar while executing innovative ideas that benefit our members,” said Mike Warrell, CEO of ValleyStar Credit Union. “His expertise will advance ValleyStar and keep our credit union in front of emerging technologies to benefit the credit union team and all those that it serves.”
With more than 22 years in the credit union industry, Ben brings his deep-rooted financial industry knowledge to ValleyStar with a focus on advancing secure, cost-effective technology. His member-focused leadership translates into value for credit union members while keeping their financial assets safe.
Ben holds a Bachelor of Science in Computer Science from Ferrum College.
Business analytics and technology consulting provider Trellance is announcing that it has joined the Cloud Security Alliance (CSA), the world’s leading organization dedicated to defining best practices that help ensure a secure cloud computing environment.
Trellance obtained the CSA’s STAR (Security, Trust, Assurance, and Risk) Registry Level 2 certification, which requires a rigorous third-party independent assessment of the security of a cloud service provider. Senior Director of IT Operations and Security Jeff Shrout said Trellance is now recognized as a Trusted Cloud Provider, which is important as more credit unions embrace cloud-based services.
“Credit unions must have trust and confidence in their technology partners and it’s our goal to make the strength of our security practices clear and evident,” Shrout said. “Credit unions don’t need to simply ‘take our word,’ an independent and accredited third-party has audited and validated our adherence to stringent best practices as a cloud service provider.”
Trellance offers both cloud-based and on-premise delivery of its solutions. Recently, more credit unions have moved to cloud-based services, which offer significant benefits such as faster, simpler deployments and cost-effectiveness. In response to the increased demand, Trellance plans to introduce additional cloud services in 2022.
The CSA is a nonprofit organization led by a coalition of industry practitioners, corporations, and other stakeholders that establish and monitor cloud platforms and cloud service providers. They maintain a publicly assessable registry of cloud service providers and cloud SaaS providers, which is available at cloudsecurityalliance.org.
In addition to being CSASTAR Level 2 certified, Trellance is also compliant with SOC 1 and 2 standards and is Level 1 Service Provider certified with the Payment Card Industry Data Security Standard.
Author: Mike Lawson
Married 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.