 Milind Borkar UniWyo Credit Union has announced a strategic partnership with Illuma, the leading provider of real-time voice authentication for financial institutions. Through this collaboration, UniWyo has implemented IllumaSHIELD™, a state-of-the-art voice authentication solution designed to significantly reduce verification time while strengthening protection against fraud.
IllumaSHIELD™ uses advanced voice biometrics to passively verify members during phone interactions with UniWyo’s contact center. This cutting-edge solution replaces traditional knowledge-based authentication methods — such as PINs, passwords, or security questions — with a frictionless and secure process using proprietary AudioPrint™ technology that is both faster and more secure. “At UniWyo, protecting our members and their personal information is at the heart of everything we do,” said Tara Springsteen, Vice President of Operations at UniWyo Credit Union. “Our partnership with Illuma reflects our commitment to innovation in fraud prevention. The IllumaSHIELD™ platform not only enhances security but also delivers a frictionless, more efficient authentication experience for our members.” Illuma’s voice authentication technology integrates easily with existing phone platforms. Unlike legacy authentication methods that can be vulnerable to social engineering and data breaches, IllumaSHIELD™ offers a highly secure and frictionless solution to verifying identity. “Fraudsters are becoming more sophisticated, and financial institutions need to stay a step ahead,” said Milind Borkar, Founder and CEO of Illuma. “We’re proud to support UniWyo in their mission to protect members with our AI-driven voice authentication solution. IllumaSHIELD™ is helping financial institutions across the country reduce fraud, shorten call times, and build stronger trust with their account holders.” The implementation of IllumaSHIELD™ aligns with UniWyo’s ongoing digital transformation strategy, reinforcing its role as a forward-thinking credit union dedicated to member security and service excellence.
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 Defense Credit Union Council (DCUC) has launched a new geofencing advertisement campaign to reach policymakers and legislators throughout the Capital region. Funded by DCUC’s Defending Credit Unions National Advocacy Fund, this campaign reaffirms the importance of preserving the federal tax status of credit unions.
DCUC’s campaign, a video short highlighting this critical issue, spotlights the critical role credit unions have in their communities by providing essential financial services and access, especially when supporting the unique challenges faced by service members, veterans, and their families, The ad warns that eliminating or altering the long-standing tax exemption could hinder credit union's capacity to fulfill their mission. Whether it's providing loans during deployments, offering financial education tailored to military life, or shielding families from predatory lending, credit unions serve as a lifeline to those who protect our country. “Through this campaign, we're making sure the voices of military families are heard loud and clear,” said Anthony Hernandez, DCUC President/CEO. “Taxing credit unions may seem like a policy shift on paper, but in practice, it risks cutting off a critical support system for those who serve. We're calling on lawmakers to preserve what Congress has recognized for decades serves a critical purpose, and protect the very institutions that stand behind our nation's defenders.” “The credit union tax exemption isn’t a loophole — it’s a reflection of our not-for-profit mission to serve members, not shareholders. For defense credit unions, this means delivering trusted, affordable financial services to the men and women who wear our nation’s uniform, as well as their families and veterans,” says Jason Stverak, DCUC Chief Advocacy Officer. “Preserving this exemption ensures that credit unions can continue to provide lower fees, better rates, and vital community programs that benefit millions of Americans.” “DCUC is proud to lead the charge in defending this foundational policy. Through our National Advocacy Fund, we’re not just raising awareness — we’re producing compelling materials, like our latest video, that remind policymakers what’s at stake,” added Stverak. “We thank our members and partners for their unwavering support, and we call on Congress to stand with credit unions and protect the tax status that allows us to put people before profit.” DCUC and its member credit unions continue to advocate for the military community through location outreach of financial services that align with their distinct needs. DCUC’s campaign is part of an ongoing effort to ensure credit unions and their members' stories remain front and center in the national policy conversation. For more information, please contact Jason Stverak at [email protected] and visit dcuc.org/advocacy.  Caroline Willard America's Credit Unions hosted an advocacy update webinar for credit union and league members—nearly 900 people attended the live webinar. President/CEO Jim Nussle led the update with Chief Advocacy Officer Carrie Hunt, and Patrick Conway, CrossState Credit Union Association President/CEO and AACUL Board Chair, and Caroline Willard, Cornerstone League President/CEO, also provided insights.
This update focused on letting credit unions know where we're at in the tax writing process, America's Credit Unions' strategy—up to this point and ongoing--is to keep the credit union tax status out of the bill, and urge all credit unions and industry allies to contact lawmakers directly utilizing resources through the Don't Tax My Credit Union campaign. America's Credit Unions will continue providing regular updates as lawmakers work through the reconciliation process. A few excerpts from the conversation are below. If you would like to further discuss America's Credit Unions and system-wide advocacy efforts to protect the tax status, I would be happy to help arrange. On Tax: "All of our messaging strategy has been to talk about the credit union difference what we do for our members, how you use that credit union difference, including the tax incentive that we have for the benefit of our communities and the members that we serve. And that's been our message for years, not just since the Trump tax cuts passed in 2017, but the President has put this on the agenda." - Jim Nussle "Being able to talk about how you're moving the needle in your community, how you're making a difference for your members, how you can show that in the outcomes of their financial lives is crucial to being able to defend, rationalize the fact that we have a special tax status to back up the mission that we're trying to do. We've also backed it up with other data about what's happening in the economy. The fact that 20,000 bank branches have closed just since the Great Recession...at the same time that credit unions have opened 600 branches—many of these in underserved communities, rural areas in urban areas, places across the country where without that bank branch, without any branch, there's a good chance their only option is payday or something like that, particularly on the margin." - Jim Nussle "'Don't tax my credit union' is definitely, to some extent, an advocacy threat. Don't tax 140 million members of credit unions across the country. Why would you? Why would you extend a tax cut and at the same time pick on the most challenged people in the country—consumer members of credit unions, 140 million of them who are often on the margins—and say, those services may not be available to you. Your taxes are going to go up, because that's how credit unions operate. We pass the profit, so to speak, on to our members." - Jim Nussle "I really believe this is a defining moment. This is the biggest threat that we've faced in a very long time. I think it's our objective collectively, the trade associations, the infrastructure that advocates so well for credit unions across the country, to provide clear guidance to our credit unions and to provide trusted leadership as we advocate on your behalf and engage you with those efforts as we move forward. And you know every credit union story shared, every lawmaker engaged, and every advocate activated is making a difference. So thank you. Thank you to all of our credit unions...that have worked with our team and really rolled their sleeves up and done a great job. And if there's any message I would leave all of you with today, is keep going. As Jim said, this is the time to do it...We're stronger than we are on our own, and that's the unique strength of the credit union system." - Patrick Conway "You may think this is a uniquely U.S. scenario, but I just got back from Africa last week, and we were talking to the Uganda Credit Unions, whose tax status is expiring in 2027, about the importance of preserving the difference of credit unions, because we've seen other international examples like in Australia, where the tax status went away, and then there was a sharp decline in the number and vitality of credit unions in that country. So we have an obligation as U.S. credit unions to do an extraordinarily good job in this fight, because I don't think I'm being dramatic when, by saying that if our domino falls, other dominoes could fall. So I don't take that lightly. I don't think anyone on this call does." - Caroline Willard On NCUA: "What we've tried to say very clearly is number one, we want and support, and will continue to advocate for, an independent agency to regulate credit unions. Number one. Second is that we want a full contingency of board members to do that job. And we believe that's not only important from a following the law standpoint. But it's also primarily important from a stability standpoint. Credit unions, like a lot of other financial institutions, thrive on stability, thrive on predictability, understanding what's coming, being able to manage risk, and whenever that is uncertain, it can cause challenges. So, we are going to continue to advocate for a 3-member board. We've called on the President and the Administration to nominate members and to work through the nomination process." - Jim Nussle  David Savoie Purchasing nonmember deposits through Louisiana Corporate Credit Union’s (LaCorp’s) SimpliCD partnership helped Essential Credit Union continue funding services to its members in recent years, CEO Richard Williams said, particularly the credit union’s indirect auto lending program.
The $390 million Essential CU uses LaCorp for a corporate account for accounts payables and contingency liquidity line of credit, as well as SimpliCD through the corporate’s platform. LaCorp has $187 million in assets, a nationwide field of membership and is based in Metairie, La. It’s not just the money management Williams is after from LaCorp; he appreciates LaCorp CEO David Savoie’s unique background as a former regulator to provide solid guidance. “David taking time to reach out and talk with me has been a big plus,” Williams said, “because we’ve had other corporate credit unions we have worked with, but none have taken the time to actually reach out and talk to us from a member perspective just to see how things are going. What else can we do as a corporate credit union to really help you guys?” That personal touch is what continues to set LaCorp apart despite most people’s rush to self-service. “While we offer high-tech services, we also want to remain high touch, too,” Savoie said. “I’m incredibly proud of the job our team does for all our members, and I appreciate that Rich takes our input to heart. It’s been great to work with Essential Credit Union.” “Having someone with David’s experience, being able to talk about the current market and economic conditions, is helpful because he brings a perspective you’re not going to get from someone who doesn't come from a regulatory background,” Williams said. “David does a good job of sharing that type of information, and he's not coming from a place of being preachy. He is simply sharing his experience and view of different economic cycles and what's going on in a safe forum for his members to have conversations.” Williams added, “David does a good job of trying to find ways to squeeze out a few more basis points for his members to have a few more dollars flow to their bottom line so they can serve their members better.”  As Congress intensifies discussions around budget reconciliation and the expiring provisions of the 2017 tax law, more than a dozen credit union organizations—representing over 4,500 institutions and 140 million member-owners—have issued a unified call to lawmakers: preserve the historic tax status for America’s not-for-profit financial institutions, credit unions.
A coalition of credit union advocates, including the Defense Credit Union Council (DCUC), America’s Credit Unions (ACU), Credit Union Executive Society (CUES), National Association of Credit Union Chairs (NACUC), National Credit Union Management Association (NCUMA), Inclusiv, TruStage, Earnest Consulting Group (ECG), Callahan and Associates, National Council of Firefighter Credit Unions (NCOFCU), Metropolitan Area Credit Union Management Association (MACUMA), Association of Credit Union Audit and Risk Professionals (ACUARP), and the National Council of Postal Credit Unions (NCPCU), sent a joint letter (attached) to Congress highlighting the vital, community-centered role credit unions play in improving and supporting Americans’ financial lives. Altering or revoking this decades-long federal tax status of credit unions—a benefit granted in recognition of their not-for-profit, member-owned structure and purpose—would work counterproductively to budget reconciliation and the financial prosperity of the American people. A Mission Under Threat Credit unions have been sounding the alarm as lobbying by large bank trade associations intensifies. At a Senate Finance Committee hearing last fall, several lawmakers signaled openness to revisiting the credit union exemption as part of broader tax reform. This ignited a grassroots response from the credit union community nationwide, including a total movement campaign, “Don’t Tax My Credit Union.” While these advocates are supportive of expanding financial access and strengthening America’s financial ecosystem, the movement has been forced to share a full-throated response to banks’ attacks on the tax status of credit unions, their true-to-this-day historic model, mission, and impact. “[T]he vast majority of a bank’s profits flow to a relatively small group of investors. Studies show banks devote only around 1% of their profits to community reinvestment, with the other 99% going to shareholders and executive compensation. Credit unions invert that model – by charter, we reinvest essentially everything into serving our members.” The response also calls attention to banks’ own benefit of significant federal tax breaks—most notably the 2017 corporate tax cut and the Subchapter S loophole to avoid corporate taxes entirely. “The banking industry holds over $24 trillion in assets (nearly ten times the assets of all credit unions combined) and earned record profits in recent years. Banks also benefit from numerous tax breaks and subsidies that are not available to credit unions…For example, over 2,000 banks – including some large ones – use a special Subchapter S tax election to avoid corporate income taxes entirely, saving those banks an estimated $1.8 billion in taxes in 2022 alone.” The coalition’s letter noted how the 2017 Tax Cuts and Jobs Act provided banks with a massive windfall by slashing corporate tax rates: “[B]anks collectively enjoyed a $28.8 billion annual tax cut in 2017, amounting to an estimated $447 billion in tax breaks over 10 years. In fact, the federal revenue “cost” of the entire credit union tax exemption is tiny by comparison – bank tax cuts and loopholes have a budgetary impact roughly 16 times greater than the credit union tax exemption. It is galling that some in the banking industry, after receiving huge tax cuts and even taxpayer-funded bailouts in the past, are now lobbying to raise taxes on credit unions.” What’s at Stake The potential consequences of removing the tax exemption are stark:
The federal government forgoes roughly $4 billion annually by not taxing credit unions. Yet industry data shows credit unions and their members still contribute more than $36 billion in other taxes (payroll, property, state/local) each year—all while returning that $4 billion in tax savings back to members in the form of better financial pricing, services, and support. “We are working hard to ensure policymakers understand what is at stake. Credit unions’ tax exemption is not about protecting a financial institution – it’s about protecting the financial well-being of Americans who rely on credit unions,” the letter read. “It enables us to offer affordable loans to a family buying their first home, to provide counseling to the senior on a fixed income, to approve a micro-loan for a startup business, and to maintain branches in communities that others have abandoned. If that ability is threatened, it is everyday people and local economies that will pay the price.” For more information, please see the official joint letter and press release attached. Questions or requests for additional comments may be directed to DCUC President/CEO Anthony Hernandez at [email protected].  Mark Majeske Alacriti, a leading provider of cloud-based payments and money movement solutions, announces its partnership with Ascend Federal Credit Union, enabling members to receive instant payments 24/7 through The Clearing House’s RTP® network and the Federal Reserve’s FedNow® Service. With more than 250,000 members and more than $4.4 billion in assets, Ascend is committed to providing innovative financial solutions that enhance member convenience and accessibility. This collaboration allows members to receive payments instantly, improving cash flow and financial flexibility.
By integrating Alacriti’s Orbipay Payments Hub, Ascend gains a modernized, cloud-native payment platform that connects to multiple payment rails—including the RTP network, the FedNow Service, ACH, Visa Direct, and wire transfers—while providing real-time visibility and operational efficiency. Through this partnership, Ascend members benefit from:
“We were pleased with the implementation process and how quickly transactions started flowing once we went live” said Jennifer Stratton, Assistant Vice President of Payments at Ascend Federal Credit Union. “The Orbipay Payments Hub is incredibly easy to use, and our members appreciate the convenience of having instant access to their money. The platform’s intuitive design and real-time visibility have made managing instant payments seamless.” “We are excited to see Ascend Federal Credit Union partner with Alacriti to provide innovative payments products to its members,” said Keith Gray, Vice President of Industry Partnerships at The Clearing House. “Members are already benefitting from instant access to money they receive, and we look forward to seeing how Ascend and Alacriti add more instant payment capabilities, including the ability to send payments, in the near future.” “We are excited to partner with Ascend Federal Credit Union as they take a strategic approach to modernizing their payments infrastructure,” said Mark Majeske, SVP of Faster Payments at Alacriti. “With instant payments now live, Ascend is well-positioned to continue evolving its offerings and provide best-in-class financial services to its members.” Currently, Ascend has enabled Receive functionality for instant payments, allowing members to receive real-time transfers from employers, payment apps, and financial institutions. As part of its long-term strategy, Ascend plans to expand its real-time payments capabilities by introducing Send functionality in the future.  Cathie Mahon New York State’s Empire State Development (“ESD”) awarded Inclusiv $5 million to expand access to small business lending through CDFI credit unions in the state. This is a first-of-its-kind partnership between Inclusiv and ESD that will help increase access to capital for small businesses in low income and underserved communities served by CDFIs throughout the state.
Empire State Development EVP of Small Business and Technology Development Elizabeth Lusskin said, "Small businesses are the engines of New York’s economy, and the anchors of our communities, and Empire State Development is proud to help them succeed. Access to capital remains one of the biggest barriers for Socially and Economically Disadvantaged Individuals and the small businesses they own. By partnering with Inclusiv on this first-of-its-kind SSBCI loan participation program, we are addressing that challenge head-on — strengthening CDFI credit unions and empowering more small businesses to access the resources they need to succeed” Inclusiv will leverage this historic $5 million investment to purchase more than $15 million in small business loans from CDFI-certified credit unions with a strong track record of serving low-income and underserved communities in New York State. Thanks to this initiative, Inclusiv will help credit unions make more loans to small businesses in their community by purchasing portions of each small business loan under $500,000 -- freeing up lending capital the credit union can use to help another borrower. This funding further expands Inclusiv’s Small Business Capital Initiative program offerings, which are supported by Mastercard and include our Small Business Lending Training, Loan Participation Marketplace and Loan Loss Fund and Loan Processing and Servicing support. ESD’s investment will greatly increase liquidity for CDFI credit unions while also creating financial opportunity for small businesses that need it the most. Inclusiv will start with the 11 CDFI-certified community development credit unions in New York State that are active small business lenders. Additionally, we expect to enroll CDFI credit unions with small business lending programs that are authorized to work in NYS and enroll credit union graduates from the Inclusiv’s Small Business Lending Training to start up their small business lending in the near future. “We are grateful for this partnership with the Empire State Development in this groundbreaking small business initiative. CDFI credit unions play a crucial role investing in small businesses that are too often turned away by big banks. We look forward to helping businesses to grow, increase their revenue and create jobs in their communities through responsive and responsible credit union lending,” Cathie Mahon, President/CEO of Inclusiv. Inclusiv’s Small Business Capital Initiative helps establish and scale business lending programs to better serve communities across the country. We aim to increase the number of community lenders that offer business loans, expanding the availability of affordable and high-impact small business loans. Business lending positions credit unions as key stakeholders in and drivers of their local economies.  Brian Scott Velera, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, announced it has been selected to provide debit and credit card processing support to 802 Credit Union (802CU).
802CU was formed in 2020 when two not-for-profit financial institutions with a combined 70 years of service to communities in Vermont joined forces. Today, 802CU serves over 37,000 members at nine branch locations across Vermont and holds $416 million in assets. The credit union is committed to providing local, personalized services that make a positive difference in the lives of its members and the community. During its search for a debit and credit processing provider, 802CU was seeking to identify a true partner with a strong technology stack, industry-leading fraud prevention and integration capabilities to allow for a more seamless member experience. Following meetings with multiple potential partners and based on recommendations from existing Velera credit unions, 802CU made the decision to move forward with Velera. “Velera hit the mark with everything we set out to find in our search for a new partner: quality services, shared values and strategic goals, open communication and easy integration to create added value and positive change for our members,” said 802CU Vice President of Operations Kate Boudreau. “We feel that Velera will be more than just a service provider, but rather a longtime and trusted partner to 802CU.” Velera will begin providing debit card processing support to 802CU in September 2025 and credit card processing services in March 2026. “802 Credit Union’s dedication to the credit union philosophy of ‘people helping people’ is closely aligned with Velera’s company values,” said Velera EVP, Chief Growth Officer Brian Scott. “We look forward to working in lockstep with their team to deliver industry-leading products and services, as well as an elevated member experience.”  Mike de Vere Zest AI, a leader in AI lending technology, today announced the native integration of its AI-automated underwriting and fraud detection with the Temenos Loan Origination solution. This seamless integration arms traditional financial institutions in the U.S. with sophisticated tools to increase loan approvals while maintaining robust risk management in an increasingly competitive landscape.
The collaboration delivers two significant advantages: Zest AI's technology is able to analyze thousands of data points—far beyond traditional credit models—enabling more accurate and efficient lending decisions. Additionally, the Zest Protect system identifies fraudulent applications in real-time without disrupting the customer experience, allowing institutions to customize security levels to match their risk tolerance. Temenos Loan Origination is a flexible application designed for both direct and indirect lending. It offers advanced automation, strong decision-making capabilities, customizable applications, and seamless integration with third-party services, making the lending process more efficient and adaptable. "By integrating with Temenos' industry-leading loan origination solution, we're dramatically accelerating the lending innovation for financial institutions of all sizes," said Mike de Vere, CEO of Zest AI. "Temenos' robust market presence and technological infrastructure provide the foundation to help offer more banks and credit unions our AI tools. Together, we're creating a powerful combination that enables banks and credit unions to compete with fintechs while helping expand access to credit to people that traditional models often overlook." On average, financial institutions implementing the Zest AI underwriting solutions can expect to automate 60-80% of lending decisions while reducing charge-offs by 20%, delivering substantial improvements in both operational efficiency and profitability. By leveraging AI-powered credit assessment and fraud detection in a single integrated platform, lenders can now offer faster decisions with enhanced security—creating a competitive advantage while better serving their communities. "In today's rapidly evolving financial landscape, institutions of all sizes are seeking ways to automate credit decisioning while safeguarding against increasingly complex fraud," said Sai Rangachari, Chief Product Officer at Temenos. "The native integration with Zest AI addresses both challenges and is equipping the many credit unions and community banks across North America choosing our lending platform with AI capabilities previously available only to the largest financial institutions. This collaboration underscores our commitment to delivering innovative solutions to help our clients enhance banking experiences and better serve their communities."  Mairi Burns For the first time, First Tech Federal Credit Union (First Tech), a longstanding partner of the nonprofit, Learn Fresh, will serve as the corporate sponsor for their NBA Math Hoops and MLS STEM Goals programs in Portland in collaboration with three local professional sports teams--NBA’s Trail Blazers, MLS’ Timbers, and NWSL’s Thorns. The goal of the partnership is to provide a continuum of STEM learning offerings to students across the region connecting to their passions in sports, which will be offered free of charge to educators to implement.
This initiative will feature locally tailored versions of the successful NBA Math Hoops program and newly piloted MLS STEM Goals program. Both function as a unique physical board game, combining the excitement of basketball and soccer, respectively, with the fundamentals of STEM learning— creating a highly engaging and interactive experience for students in fourth through eighth grade. These programs are designed to improve students' critical-thinking skills and overall academic confidence. NBA Math Hoops educators will be provided with a comprehensive toolkit that includes a 10-lesson curriculum and classroom resources that integrate math concepts into the excitement of basketball. The dynamic and competitive board game allows students to build math skills while strategizing and playing against their peers. Students have the opportunity to engage with real-world NBA and WNBA statistics. The toolkit also includes digital resources, access to a user-friendly educator portal, as well as an engaging digital app. In addition, dedicated support and training are provided for educators. At the heart of the MLS STEM Goals program is a soccer-themed board game that features authentic team and league branding from MLS, along with real team statistics and standards-aligned STEM content. Students complete a series of math, science, technology, and engineering questions to move up and down the field, ultimately using team data to attempt shots and win the game. All STEM Goals content was designed in alignment with Common Core Math Standards and Next Gen Science Standards. Learn Fresh, the organization behind the NBA Math Hoops and MLS STEM Goals programs, specializes in delivering high-quality STEM education programs to in and out-of-school time learning spaces across the US and around the world. First Tech, is a long-time partner of Learn Fresh, having first sponsored the Trail Blazers Math Hoops program back in 2020. In the face of the Covid pandemic, First Tech overcame logistical challenges by creating virtual adaptations of the NBA Math Hoops tournaments, allowing students to still be able to benefit and enjoy the program’s offerings. “We’re excited to continue our partnership with First Tech for the Trail Blazers Math Hoops program and launch of the Timbers x Thorns STEM Goals programs,” said Nick Monzi, CEO & co-founder of Learn Fresh. “First Tech played a pivotal role in bringing the three professional sports teams together for students in Portland to have access to STEM. We’re looking forward to our collective efforts in extending our reach and impact in this community!” "At First Tech, we believe in the power of education and the potential of every student. Through the First Tech Beyond™ program, our partnership with Learn Fresh and Portland's professional sports teams is a testament to our commitment to inspiring the next generation of tech innovators,” said Mairi Burns, Vice President of Brand Marketing at First Tech. “By integrating STEM learning with the excitement of sports, we aim to ignite curiosity and foster a love for learning among youth. This initiative is an extension of First Tech’s ongoing efforts to support education and community engagement, creating opportunities for students to explore their interests and develop valuable skills for the future." Educators across the Portland region are encouraged to register for an upcoming training to take advantage of this unique opportunity to engage their students in a fun and educational experience. Please refer to the following link: learnfresh.org/programs. |
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
January 2026
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