Stanford Federal Credit Union, comprised of members from the Stanford University community and technology companies in the Bay Area, has launched a cryptocurrency offering powered by NYDIG and Q2 Software Inc. for its members, which will allow them to buy, sell, and hold Bitcoin. “Stanford FCU recognizes the power of cryptocurrency in today’s e-commerce ecosystem. We want to make the process of using Bitcoin as streamlined, secure and user-friendly as possible for our members,” stated Stanford FCU President & Chief Executive Officer Joan Opp. “We see both a need and opportunity here to support our members’ evolving needs while leveraging technology in a way that enables them to use cryptocurrency seamlessly in their everyday lives.” “NYDIG is proud to partner with Stanford FCU to power its Bitcoin services in a secure and compliant way,” said Rahm McDaniel, Head of Banking Solutions at NYDIG. “A trusted institution like Stanford FCU wants to ensure the Bitcoin services offered to its clients meet the industry’s highest regulatory, audit, and governance standards and that is exactly what NYDIG provides. We are excited to partner with them to ensure their members have access to the opportunities associated with this emerging technology.” “Stanford FCU serves a tech-savvy membership and they have done a great job of delivering innovative digital banking services powered by Q2,” said Jonathan Price, EVP of Emerging Businesses, Corporate and Business Development, Q2. “Now, through Q2 Innovation Studio, we are excited to work with NYDIG to enable Stanford FCU to offer Bitcoin services to meet their member needs.” NYDIG is offering Stanford FCU members $5 in free Bitcoin to those who sign up in the first few months if members are interested in trying out the new fintech offering: www.sfcu.org/crypto. Stanford FCU’s new crypto service offers: ● Easy signup and immediate access for current members ● Clear account information ● Bitcoin account management in Online Banking and the mobile app ● Automatic documentation for tax time ● Ironclad platform thanks to NYDIG, which adheres to the highest security, regulatory, and operational standards According to the Pew Research Center, an estimated sixteen percent of U.S. adults say they have invested in, traded, or otherwise used a cryptocurrency[1]. To further educate its members about cryptocurrency, Stanford FCU has published the following FAQs article: What to know about cryptocurrency and scams. In 2021, Stanford FCU saw nearly 25,000 buy and sell transactions by its members to and from crypto exchanges. For more information about Stanford FCU and its latest member offerings, visit sfcu.org.
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Serve Credit Union, a financial cooperative founded in the “people helping people” spirit in 1931, has expanded its team and promoted two employees to better serve its members. Serve’s recent changes include: Kyle Hunt new hire: Serve has hired Kyle Hunt as the credit union’s new Professional Development Coordinator. Kyle will lead the onboarding of new staff and develop training plans for positions and individual learning styles. He is also one of the newest board members for the Central Iowa Chapter of Credit Unions. Jordan Dean promotion: Court Avenue branch employee, Jordan Dean, has been promoted from Member Relationship Officer to Financial Services Officer. In this role, Jordan will be preparing loans full-time and splitting extra duties such as account/membership openings and credit and debit card maintenance with other Financial Services Officers. She is also a recent graduate of the Iowa Credit Union Foundation’s Financial Coach program. Jordan will leverage the skills from this program into her new role and serve as the credit union’s financial coach for the graduates of the Blue Shoe Box program. Dani Tool promotion: Court Avenue branch employee, Dani Tool, has been promoted from Member Service Representative to Financial Services Officer. “I am excited to serve others in a bigger capacity,” Dani Tool said. “I have been at Serve for just over a year and a half, but in that time, I have been able to build great relationships with our members. I am excited to learn more and better serve members with any financial services they need.” Dani’s passion within the credit union industry has also been translated to her new leadership role as a board member for the Central Iowa Chapter of Credit Unions. “Meeting our members’ increasing financial needs is always at the forefront of every decision we make,” said Jami Weems, CEO of Serve. “Adding Kyle to our team and promoting both Jordan and Dani allows us to strategically grow our credit union so we can increase and improve the services available to our members.” Serve Credit Union serves those who serve the community, including Des Moines public servants like USDA employees, teachers, police officers, first responders like firefighters, correctional officers and EMTs. Read more about Serve and its unique membership at https://www.servecu.org/. De Novo EntreBank Selects CSI’s NuPoint® Core as Foundation for Integrated Business Banking Services6/2/2022 EntreBank, the first Minnesota-based de novo bank in 15 years, has selected Computer Services, Inc.’s (CSI) (OTCQX: CSVI) NuPoint® core platform as the foundation of its integrated banking services. The bank partnered with CSI, a provider of end-to-end fintech and regtech solutions, to meet the unique needs of entrepreneurs and small businesses in Minnesota by providing modern digital banking services that help the bank work at the fast pace their customers expect. EntreBank was co-founded by a group of five leaders from local banks in Minnesota. In their previous experiences, the executives noticed areas in which entrepreneurs and small businesses could be better served by community financial institutions. The implementation of CSI’s NuPoint core will enable EntreBank to establish a modern, open architecture that provides their customers with flexible online and mobile banking services and simplifies back-office operations for staff. “We know entrepreneurs and small business owners have unique needs that require creative solutions. By truly understanding our clients’ businesses, we create value for them by helping them capitalize on the best and timeliest opportunities,” said Tim Viere, CEO of EntreBank. “In every measure, CSI rose to the top as the best banking services provider that could deliver the innovative technology advancements and customer service we needed to deliver that value for our customers.” In addition to core banking services, EntreBank will take advantage of CSI’s managed IT services. CSI’s managed IT solutions will enable EntreBank to maximize the performance of bank applications and systems while allowing staff to focus on the business of banking. “At CSI, we are dedicated to providing enhanced technology offerings in an open banking environment that meet the specific needs of our community banks and their customers,” said Giovanni Mastronardi, group president, CSI Enterprise Banking. “As a de novo, EntreBank can establish a modern and open architecture to serve as the backbone of their banking services from the very beginning. We are pleased to partner with EntreBank and deliver innovative core banking solutions that will help its customers achieve financial wellness and grow their businesses.” Filene Research Institute invites World Council of Credit Unions (WOCCU) to share space in its Madison office located in the Lyric building on East Washington Ave., starting at the end of summer. Much like many businesses experienced during the COVID-era, the question around what to do with under-utilized physical workspaces arose for Filene. Meanwhile, the pandemic transitioned WOCCU staff to a remote work setting, causing the organization to rethink what it needed in an office. Filene had explored preliminary stages of sub-leasing a portion of its Madison office space prior to the start of the pandemic to share with other local credit union organizations and invite more credit union connections, perspectives, and voices to be part of Filene’s network. As resumption continues out of the pandemic and staff return to in-office work, Filene sees the value in engaging in a shared space with WOCCU to deepen knowledge of credit union opportunities and challenges around the world. WOCCU sought to move somewhere that could accommodate their staff and that of Worldwide Foundation for Credit Unions, Global Women’s Leadership Network and WYCUP, with flexibility in terms of the physical office space and more opportunities for collaboration. “We are extremely excited about the opportunities now available to WOCCU for further collaboration with Filene by sharing space with them in their Madison office,” said Paul Treinen, Executive Vice President of WOCCU. “Filene has always been a great partner with World Council over the course of our history and I have no doubt that will only grow in the coming years with this move.” In its 51-year history, WOCCU has only had two homes. It began operations at Filene House, just east of the Yahara River at 1617 Sherman Ave. in Madison. In 1950 when the building was first dedicated, President Harry Truman was present for the ceremony of Filene House, a memorial to Edward Filene, founder of the credit union movement in the United States. By the time WOCCU moved in in 1971, they represented 56,000 credit unions with 40 million members in more than 70 countries. World Council then moved to the Credit Union Center with CUNA and CUNA Mutual Group in Madison in 1979, where they remained for the next 42 years. “We are thrilled to have WOCCU joining us in our Madison office,” said Filene’s Chief Finance and Operations Officer, Patsy Stewart. “The in-person ‘accidental collisions’ Filene has experienced among staff and with others across the credit union system have been invaluable to advancing ideas and creating new opportunities. With WOCCU in our office, we can continue to expand our credit union network and proactively enable those crucial connections.” Today, WOCCU represents more than 86,000 credit unions with 375 million members in 118 countries. Filene moved to its current Madison office in 2017. Coastal Credit Union has expanded its already close partnership with Co-op Solutions, adding Co-op Digital Card Issuance for debit and credit cards as part of an emphasis on digital-first for enhanced member experiences. Co-op Digital Card Issuance is part of Co-op’s ongoing commitment to creating connected solutions that deepen credit union-member engagement through modern payments experiences. Once implemented, card credentials will be issued directly through the credit union’s mobile app or online banking system, enabling the member to add the card to their digital wallet. The member will then be able to begin using the card within minutes. “We need to be best-in-class in every respect and working with Co-op will enable us to continue to advance our member service while shifting to digital solutions,” said Chuck Purvis, President/CEO of Coastal. “Co-op Digital Card Issuance will enhance the member experience in a variety of ways, including the convenience of a shortened replacement card window and increased levels of reliability and security.” In addition to Digital Card Issuance, Coastal renewed its relationship with Co-op for services that include Full-Service Credit, Debit and PIN transaction processing; ATM Driving; full member support via Co-op Contact Center; and CardNav by Co-op, a card controls and alerts application. “All of these services are aimed at a smooth member experience as well as fraud prevention, detection and resolution, which is integral to a best-in-class member experience,” said Purvis Based in Raleigh, North Carolina, Coastal (www.coastal24.com) is the second largest credit union in the state, with $4.7 Billion in assets and more than 309,000 members. The credit union operates 23 branches, serving primarily a 16-county area in central North Carolina. “We are building on a relationship with Co-op Solutions that extends back many years,” said Purvis. “We work closely with them to stay relevant in the payments and card space. And, Co-op facilitates a large portion of our member experience initiatives, which is a process of continuous improvement.” “We appreciate the commitment to partnership Coastal maintains with Co-op,” said Matt Kardell, Chief Revenue Officer for Co-op. “Digital Card Issuance solves real problems for both credit unions and cardholders. When a card is lost, so too is the opportunity to engage with that member. Payments is the path to primary financial relationships, and Digital Card Issuance will help Coastal maintain its daily, even hourly touchpoints with their cardholding members.” For more information on the Co-op ecosystem of financial technology products and services visit www.co-opfs.org/Solutions. These awards have celebrated the innovators of the credit union movement for over thirty years and will be presented at the National Credit Union Foundation’s fundraising gala. Nominations can be made in two categories:
To submit a nomination, individuals and organizations should complete and return the Herb Wegner Memorial Award Nomination Packet with a minimum of five supportive references. Deadline for submission is 5 p.m. Central, Friday July 29, 2022. Payrailz®, a digital payments company offering smarter, more engaging payment experiences to banks and credit unions across the United States, has been named one of the 2022 Best Places to Work in Financial Technology. The awards program was created in 2017 and is a project of Arizent and Best Companies Group. Payrailz has been included in the list every year since 2019. This annual survey and awards program is designed to identify, recognize and honor the best employers in the financial technology industry. Companies recognized on this year’s list operate in and serve companies and consumers in a wide range of financial services including banking and mortgages, insurance, payments and financial advisory. The 2022 list included 50 companies and was published by Arizent brands American Banker, National Mortgage News, PaymentsSource, Financial Planning and Digital Insurance. “The fintech community continues to grow and provide job opportunities for data scientists, developers, managers and creative thinkers,” said Penny Crosman, executive editor, technology at American Banker. “Best Places to Work in Financial Technology offers a look at fintechs that lead the pack in areas like human resources policies, perks and culture, which can help people understand which companies might be a fit for them.” Payrailz is especially proud of the way it has maintained its culture in the midst of the global pandemic and in a mostly remote working environment. Payrailz’ culture is more than a sleek office or fun workplace happy hours, but rather its culture is built on a foundation of family where everyone is valued and their voices are heard, regardless of their position in the company. “Our company has grown tremendously over the past few years, and we owe so much of that to the culture we have created. Each of our employees does tremendous work and has helped make Payrailz one of the best places to work in the industry,” said Fran Duggan, CEO of Payrailz. “I am so very proud of Payrailz for being named a great place to work for the fourth year in a row, and I am grateful for each team member’s contribution to our success. We have a truly collaborative environment where we all learn from and uplift each other and that is evident not only in our family-oriented culture but in our partnerships with our clients and our innovative products.” Payrailz is a digital payments company specializing in providing banks and credit unions with a smart, engaging and proactive payments experience. The company’s mission is to provide financial institutions with the innovative tools they need to help them better serve their customers or members and set themselves apart from the competition. As it seeks to empower financial institutions, the company also seeks to empower its employees. To be considered for participation, companies must provide technology products, services or solutions that enable the delivery of financial services. Companies must also have been in business for at least one full year and employ at least 15 people in the U.S. Companies from across the United States entered a two-part survey process to determine Arizent’s Best Places to Work in Financial Technology. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process, analyzed the data and determined the final ranking. For more information on Arizent’s Best Places to Work in Financial Technology program, including full eligibility criteria, visit www.BestPlacestoWorkFinTech.com or write to penny.crosman@arizent.com. Member Driven Technologies (MDT), a CUSO that hosts the Episys® core platform from Symitar® to provide a private cloud alternative for core processing and IT needs, has been named a Best Place to Work in Financial Technology by Arizent and Best Companies Group for the third year in a row. MDT ranked 18 out of 50 companies. This annual survey and awards program is designed to identify and honor the best employers in the financial technology industry. MDT was recognized for the importance it places on employees’ wellbeing, both from a professional and personal perspective. The CUSO offers strong benefits and flexibility, with the understanding that family comes first. Employees are encouraged to share opinions and think outside of the box; the company hosts a yearly innovation challenge where employees present ideas for internal process and product improvement. Winning ideas are implemented, giving MDT team members an opportunity to enact tangible change. “The credit union ‘people helping people’ mentality is not only something we help our clients achieve, but it’s a philosophy that resonates throughout MDT’s work environment as well,” said Larry Nichols, CEO and president of MDT. “It’s a top priority at MDT to perpetuate a culture of transparency and compassion, where all voices are welcome and team members are celebrated for both personal and professional accomplishments and growth. This foundation has powered MDT’s momentum for nearly two decades, which is why we’re so proud to be named a Best Place to Work in Financial Technology for the third year.” MDT is firmly committed to fostering diversity, equity and inclusion. The CUSO’s social justice committee, launched in 2020, remains active, most recently partnering with Motor City Mitten Mission, a non-profit organization dedicated to helping the homeless and those in need while educating, partnering, and collaborating with several other organizations, schools, churches, clubs, and businesses. “The fintech community continues to grow and provide job opportunities for data scientists, developers, managers and creative thinkers,” said Penny Crosman, executive editor, technology at American Banker. “Best Places to Work in Financial Technology offers a look at fintechs that lead the pack in areas like human resources policies, perks and culture, which can help people understand which companies might be a fit for them.” For more information on Arizent’s Best Places to Work in Financial Technology program, including full eligibility criteria, visit www.BestPlacestoWorkFinTech.com. First City Credit Union is pleased to announce the selection of Nav Khanna as president and CEO. Khanna succeeds Jim Miller, who retired after a distinguished 13-year credit union career. Khanna is a seasoned senior executive who brings more than 30 years of experience in the financial services industry. Khanna has worked in global and domestic financial services since 1990 and the credit union industry since 2001 — 15 of those years at the C-suite level — bringing exceptional depth to the leadership team with his member-service focused perspective. Most recently, Khanna was executive vice president and COO at $4.7 billion Travis Credit Union, headquartered in Vacaville, CA. He earned his Masters of Business Administration (MBA) degree in international business and finance at the University of Hartford in Paris, France and Hartford, Connecticut, as well as his Bachelor of Arts (BA) degree in finance and economics from the University of Toronto in Toronto, Canada. “Nav stood out among a very strong set of candidates and demonstrated a vision for the future of First City, focused on improving the financial lives of our 59,000 members and their communities,” said Dr. Michael Steinberger, board chair of First City Credit Union. “We are excited for what Nav brings to First City.” Khanna commented: “I am thrilled and humbled to be chosen to lead this next phase of growth for First City Credit Union. I love our movement, the State of California, and what this organization stands for. I am looking forward to building upon the strong cooperative finance business model that has been forged thus far. Along with the First City team and its board of directors, I also look forward to making an even greater and positive impact on our members and our communities well into the future.” Incoming First City Credit Union president and CEO Nav Khanna will officially assume his duties on June 13, 2022. Registration is now open for CUNA Mutual Group’s 13th annual Discovery conference on Thursday, August 11, 2022. The no-cost, all-day event will feature eight breakout sessions, two keynote addresses and two panel discussions––for a total of 12 sessions. Some of this year’s session themes include how to make DEI actionable, creating a strong culture while working remotely and millennial and gen z banking trends. “Communities need and depend on credit unions,” said David Sweitzer, executive vice president and Chief Experience Officer of CUNA Mutual Group. “Discovery is our opportunity to help those committed to the credit union movement exchange ideas, share best practices, learn and most importantly improve so we can continue to positively impact lives and help make brighter financial futures more accessible for all.” In addition to providing engaging, immersive content this year’s event will also feature a new technology platform. This all-new conference delivery system will offer greater interactivity, a richer learning experience and the ability for attendees to virtually network. The yearly event is held each August to help inform and prepare credit union staff as they begin their annual planning for the upcoming year. All credit union and league employees are welcome and encouraged to attend. For more information or to register for this year’s event please visit cunamutual.com/discovery. |
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
April 2024
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