TruWest Credit Union is bringing homeownership within reach for medical professionals who are currently employed, in residency or fellowship, or newly licensed medical students with a contract who will begin their new employment or residency within 60 days of closing. TruWest’s new Medical Professional Home Loan program is tailored for each individual borrower and may be particularly beneficial to recent graduates with large student loan debt, traditionally associated with attending medical school. As part of the loan program, student loans may be excluded from the applicant’s debt-to-income ratio with proof of at least 12 months deferment or forbearance from the application date. “Medical professionals invest so much time and talent in our local communities,” said Farid Farbod, Chief Lending Officer from TruWest Credit Union. “This home loan program helps to give these critical individuals an opportunity to not have to wait to achieve their goal of owning a home. We are honored to support these heroes.” Eligible individuals include medical residents, existing or new licensed Physician Assistants, Nurse Practitioners, Nurse Anesthetists, Medical Doctors, Doctors of Dental Science, Doctors of Dental Medicine, Surgeons specializing in oral and maxillofacial surgery, Doctors of Optometry, Doctors of Ophthalmology, Doctors of Podiatric Medicine and Doctors of Osteopathy. Eligible borrowers can take advantage of both fixed or adjustable rate mortgages on single-family dwellings, warrantable condos or townhomes. Minimal down payments start at 3% on loans up to $975,000 and 10% on loans up to $1,650,000. Qualifications regarding DTI, down payment and FICO scores apply. For more details on the TruWest Medical Professional Home Loan Program, visit www.truwest.org/medhomeloan. To learn more about TruWest Credit Union, visit www.truwest.org.
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The Trust for Credit Unions (TCU), the oldest and largest mutual fund family created for and by credit unions, has expanded its product line by launching a new investment option. The new portfolio was created to address the industry’s pressing need to enhance talent management and cooperatives’ ongoing goal of maximizing community impact. The Enhanced Income Intermediate Duration Credit Portfolio seeks to achieve a high level of total return and income and was designed to help credit unions access broader investment options through their Employee Benefits Pre-Funding Plans and Charitable Donation Accounts (CDAs). ALM First serves as the investment advisor of the new portfolio in addition to TCU’s two core bond portfolios. “As the first new portfolio launched by TCU in more than 25 years, this product represents an important milestone,” says Julie Renderos, Chair of TCU’s Board of Trustees and Executive Vice President & Chief Financial Officer for Suncoast Credit Union. “As credit unions focus more on talent management and community impact, TCU’s Enhanced Income Intermediate Duration Credit Portfolio serves an important industry need.” “Since 1987, TCU has been serving credit unions’ institutional investment needs and building a strong track record of performance,” said Jay Johnson, President & Treasurer of the Trust for Credit Unions and President of Callahan Financial Services, Inc. “This new product launch will allow more credit unions to take advantage of the potential benefits pre-funding plans and CDAs provide. It will also provide a flexible, low-cost option for those looking to supplement or expand their existing programs.” More information about the new portfolios is available at www.trustcu.com. Interested credit unions may also contact TCU at 800-237-5678 or tcugroup@callahan.com. TCU helps credit unions succeed by providing a professionally managed family of mutual funds --- exclusive to credit unions --- as well as the information and analysis they need to support investment decisions. Created by leading credit unions with oversight by a board of trustees, TCU’s mutual fund options are professionally managed and are based on the cooperative values of credit unions. Poker Power is excited to announce their newest education platform launch with Zogo, a financial literacy app created by Gen Z, for Gen Z. Within 14 bite-sized, earn and learn lessons, users will weave together the connection between money management and No-limit Texas hold ‘em. Fun, fast, simple – and completely inclusive. The app and its lessons are designed for anyone, and everyone interested in learning in a no-pressure environment. Plus, the earn as you learn model incentivizes users to complete modules with pineapple currency, which can later be converted to real-life dollars. Poker Power is adding to Zogo’s impressive platform with the fundamentals of poker: strategy, bankroll management, and risk assessment; crucial skills required to be successful at any stage in life. Once the 14 modules are completed, engaged users can move on to Poker Power’s community teacher-led virtual lessons, where more in-depth poker play can happen: no gambling, just gaming. “I am thrilled to announce our new education platform launch with Zogo – an app that introduces the basics of the game to a wider audience than we can reach with our live classes,” said Erin Lydon, General Manager of Poker Power. “Zogo reinvents financial education one game at a time and introduces poker in a way that aligns with our goals of inclusiveness and bite-sized learnings and continues our mission to teach women to master the game of leadership by playing a game of skill. We believe Zogo’s learn-and-earn model will spur women who have never been interested in poker to give it a try. You can download Zogo via our dedicated link.” Zogo’s founder and CEO, Bolun Li shares Lydon’s enthusiasm. “We're so excited to partner with Poker Power. At Zogo, we believe everyone should have equal access to financial education. While that includes learning about investing, financial institutions, etc., it also means learning skills like negotiation, risk management, and overall confidence to manage your money and life effectively - those are all things you can learn from Poker Power.” Through this partnership, women will begin their journey with Poker Power, putting the power of poker in their hands with 24/7 access to poker basics. She can then transition to instructor-led lessons and gameplay. Turning those invaluable poker skills into real-life ones. SRM (Strategic Resource Management), an independent advisory firm serving financial institutions and other industries across North America and Europe, announced the company was recognized as one of the 2022 Best Places to Work in Memphis by the Memphis Business Journal (MBJ). MBJ recognizes companies that nurture their employees' growth, treat them with respect, and fairly compensate them. This award is based on research from Quantum Workplace, a leading employee engagement firm. They send anonymous surveys to employees with a variety of closed and open-ended questions on culture, camaraderie, management, communication, and other valuable employee-centric criteria. Average scores from these surveys determine the final rankings and awards. "We are honored to be recognized once again as a top place to work in Memphis," said Brad Downs, CEO of SRM. "As we celebrate our 30th anniversary this year, it's rewarding to know that we've created an environment where our employees feel valued, respected, and proud to develop their careers. As we continue to evolve as a company, providing best-in-class service to our clients and our employees remains our number one goal. Hiring a diverse group of professionals from the Memphis area and beyond enables us to expand our client offerings and meet market demands. It's an exciting time for SRM." "The way companies work has evolved tremendously in recent years, and we've strived to provide an environment that satisfies employee needs and expectations. This recognition proves we're on the right path," said Tammy Owens, SRM's EVP of Human Resources. "SRM's core philosophy of serving clients and employees has not wavered in over three decades. The firsthand feedback and Best Places to Work survey results indicate that our employees enjoy the challenges and the rewards of a career at SRM." SRM will join MBJ and other Memphis-based companies also being recognized for this achievement on Tuesday, September 13, at Overton Park Shell to celebrate this year's awards. About Best Places to Work in Memphis Every year, the Memphis Business Journal recognizes the Best Places to Work. MBJ partners with national research firm Quantum Workplace to determine Memphis' Best Places to Work. All nominated companies participate in an anonymous employee engagement survey coordinated and conducted by Quantum Workplace. The survey includes numerous closed- and open-ended questions. The average scores of employee questionnaires determine the final Best Places to Work rankings. Companies compete in Micro, Small, Medium, and Large Categories based on employment numbers, though nominees must have at least ten full-time, permanent employees to qualify. For more information, visit https://www.bizjournals.com/memphis/news/2022/08/02/finalists-named-2022-best-places-to-work.html IMM, the only eSignature provider of eSignature and digital transaction solutions exclusively for financial institutions, announced today the successful completion of its 2022 Service Organization Control (SOC) 2 Type 2 examination, which ensures compliance with the leading industry standards for managing enterprise data. By opting to undergo this voluntary audit for the third year in a row IMM maintains its competitive advantage and further affirms IMM’s long-standing commitment to information and data security practices. As this assessment has become increasingly important now more than ever, IMM continues to reinforce its policies, procedures and operations not only meet, but exceed the industry standards for security, availability and confidentiality. In the face of evolving cyber threats, every organization endures a slew of customer requests for security assurance. IMM’s focus has been on supporting and providing eSignature and digital transaction solutions designed exclusively for financial institutions. The successful completion of the SOC 2 certification is yet another example of IMM’s commitment to providing banks and credit unions with advanced, innovative and secure technology that distinguish it from other eSignature vendors. Doing its due diligence with the addition of IMM’s newest digital solution, eReceiptsPlus, IMM offers the highest level of protection and controls and shows those controls are working on-site. Earning the SOC 2 certification attests that IMM is committed to protecting customer data and system resources against unauthorized access. “In today’s cyberthreat-infested landscape, proving compliance is now a prerequisite for banks and credit unions. Anticipating customers' needs for a transparent processes, we are extremely proud of this achievement,” said Nish Shah, CTO at IMM. “Companies must increasingly prove they’re vigilant about protecting themselves and their customers. Customers not only want to know whether you’ve put in place systems and security controls to safeguard their sensitive data, but they demand honesty and transparency in how you handle that data. One of the best ways to provide this assurance is the SOC 2 Type II report.” System Organization Control (SOC2) is a technical auditing process conducted by independent auditors who measure the availability, security, and integrity of an organization’s unique data processing systems, and ultimately determine whether effective safeguards and controls are in place. To comply with SOC2, IMM demonstrates it has established precise policies and procedures in accordance with the AICPA Trust Services Criteria for security, availability and confidentiality. Additionally, the report verifies the existence of internal controls which have been designed and implemented to meet the requirements for the security principles. This independent validation of security controls is crucial for organizations operating in highly regulated industries such as financial services. Security compliance audits are essential for both security, profitability and operating effectiveness. As part of the extensive and comprehensive auditing process, IMM worked with 360 Advanced, Inc. for the second year now to pass the SOC 2 audit. While there are several companies that provide a SOC certification, IMM selected 360 Advanced based on their responses to the interview and the quality of their customer service as well as their previous success together on this rigorous audit. Companies are increasingly reliant on a host of cloud-based services to store data in a landscape where breaches are rising. IMM provides an added layer of protection that can assure partners that security problems are a thing of the past. Powering millions of end-to-end digital transactions each month, IMM eSign seamlessly interfaces with existing business systems to optimize back-office operations and provide a more dynamic and engaging customer experience. The transaction experience is frictionless and easy to use for financial institution employees while maintaining the safety and security for customers to sign documents remotely. Southern California-based Wescom Credit Union today announced that it is partnering with UCLA student-athlete and women’s softball star Maya Brady. This will mark Wescom’s first student-athlete partnership since the Name Image and Likeness (NIL) rules were enacted by the NCAA in 2021. “We are excited to collaborate with UCLA Women’s Softball student-athlete, Maya Brady, an outstanding individual on and off the field,” noted Ashley White, Vice President, Partner Development of Wescom Credit Union. “Wescom is proud to serve the entire UCLA Bruin community and help students, like Maya, build better financial futures by offering personal service and products and services tailored to their needs.” As the Official Banking Partner of many UCLA entities and organizations, Wescom offers unique products to the UCLA community such as:
Wescom’s support for UCLA entities includes being named the Official Banking Partner of:
Wescom’s presence also extends to the famed Pauley Pavilion Presented by Wescom. “I’m thrilled to partner with a financial organization so passionately committed to the Southern California communities it serves,” stated Brady. “As a result of Wescom’s ongoing support, UCLA students such as me have access to free finance-related educational resources that will empower us to make smarter decisions when it comes to our financial wellbeing. I chose UCLA for its academic rigor and athletics program, and I’m choosing to partner with Wescom because of their Bruin-focused initiatives that build better lives on and off campus.” Ms. Brady’s UCLA career milestones include:
Wescom, committed to making a positive impact for the UCLA community at every level, offers a full-service branch on campus, competitive rates and unique offerings exclusive to Bruins, free financial education, robust access channels such as fee-free ATMs on campus and coast-to-coast, mobile and online banking, and philanthropic activities that enrich students’ and alumni’s lives. To learn more about Maya Brady’s collaboration with Wescom, please visit: wescom.org/maya-brady For credit unions, today’s fintechs offer a unique opportunity to adapt to all the changes in both the business ecosystem and consumer behavior. To help educate credit unions in these areas, Janusea CEO Kyle Stutzman (also Co-founder of Pure IT Credit Union Services) will be a featured speaker at the 2022 CUNA Technology Council and CUNA Operations & Member Experience Council Conference (September 21-24, Las Vegas). Stutzman will speak on: “A Beautiful Relationship: Leveraging Fintech Partnerships to Enable Credit Union Growth.” During his presentation, Stutzman will share insights on the current fintech landscape, today’s cultural challenges, the integration challenges, and the path forward together, addressing questions like: · How can we leverage fintechs to better serve our members? · What are opportunities to leverage real-time data to enable better service delivery and product offerings? · How can we bridge the integration and partnership gap of working with fintechs? This will include an open discussion highlighting success stories and attendees will leave his session armed with the ability to layer their technology strategy with business objectives and specific areas to consider in their strategic plan, which – more than likely – will include a fintech partnership or two in the future. “The opportunities are limitless when you unlock the power of a fintech partnership for a credit union,” Stutzman says. “Your member service and community engagement depend on your ability to adapt to changes in the business and consumers. Fintechs most definitely offer a unique opportunity to meet this challenge.” CUNA and the National Sheriffs’ Association (NSA) have entered into a strategic collaboration agreement in support of the NSA’s Inmate Growth Naturally and Intentionally Through Education (I.G.N.I.T.E.) program, which helps incarcerated people obtain vital life skills, such as financial education. “U.S. recidivism rates continue to be alarmingly high, and a lack of financial education can impact an incarcerated person’s ability to find and keep employment, transportation, and housing after they’ve served their time,” said CUNA President/CEO Jim Nussle. “Credit unions are the original consumer protector and many of them offer financial education and counseling services, so this is a natural fit. It’s also an extension of our collective mission to promote financial well-being for all, particularly those who face barriers.” “Financial literacy and support are important and too often lacking for those incarcerated in our jails. With IGNITE’s strategic collaboration with the CUNA we will make significant inroads to assist inmates returning to society. America’s sheriffs greatly appreciate the CUNA for its support, insight and expertise as work together for a stronger, safer and more secure communities across the nation,” said Jonathan Thompson, NSA Executive Director. The organizations will work together to identify collaborative opportunities to connect incarcerated individuals with credit union resources to help create a pathway towards financial well-being. IGNITE is currently operating or will soon be launching in the following locations:
Finalytics.ai powers segment-of-one digital experiences for community financial institutions. The company announced today that $5.6 billion-asset Visions Federal Credit Union is the first to provide each member with an authentic and tailored digital experience from the Finalytics.ai platform. Finalytics.ai applies real-time data, dynamic segmentation, and machine learning to deliver relevant digital content for current and prospective members at a specific moment in time. Endicott, New York-based Visions selected the platform to provide valuable, relevant, and individual digital experiences. With Finalytics.ai, Visions knows more about members and leverages that data to present timely messaging that deepen relationships and strengthen satisfaction rates. Visions also welcomes prospects with greetings tailored to their unique needs. In the first three months of leveraging Finalytics.ai, Visions increased conversion rates more than 270 percent. In addition, the credit union is utilizing insights from the machine learning engine in the Finalytics.ai platform to identify additional and discrete market opportunities across the communities they serve. Thomas P. Novak, Vice President and Chief Digital Officer at Visions, states, “Humanizing the digital experience is a strategic objective of ours, but we needed the tools and know-how to take action. Finalytics.ai has the expertise, technology and understanding we needed to move from a transactional experience to a thoughtful, personal approach on digital channels. It’s an integral part of how we can keep our long-standing reputation for service while supporting our goal to become a digital-first institution. We live in an age where well more than half of banking services are delivered digitally, so institutions that deliver digital experiences that meet or exceed the branch will carry the day. We believe our partnership with Finalytics.ai is integral to our achievement of that objective.” Craig McLaughlin, CEO and Co-founder of Finalytics.ai, says that “Visions is differentiating itself with a banking environment that is more personal and relational than even the largest institutions. For them, digital transformation is about delivering the distinctiveness of the credit union mission to the digital channel. To do this, they needed to be able to offer segment-of-one interactions that translated their culture and brand value to digital channels. We are proud to collaborate with such an innovative and forward-thinking credit union that focuses on empowering communities towards financial independence.” Visions FCU will continue to expand Finalytics.ai services in the coming months. The partners are demoing this innovative experience this week at FinovateFall on September 13, at 11:25am ET. Filene Research Institute, the Cooperative Trust and Credit Union National Association (CUNA) are pleased to announce that Crash the GAC is bringing back its 14th cohort to Washington D.C. Applications for Crash the GAC are now open and the deadline to apply is Friday, December 2, 2022. Crash the GAC is a non-stop, career-changing program for credit union emerging leaders and young professionals that allows them to participate in the industry’s largest advocacy conference with complimentary registration, exclusive networking opportunities, leadership development opportunities, and mentoring sessions with industry leaders. “Crashing the CUNA GAC is one of the best ways for young credit union professionals to experience the credit union movement’s premier advocacy event,” said CUNA President/CEO Jim Nussle. “‘Crashing” gives these promising individuals an opportunity to learn about key issues, form connections with other future leaders, and deepen their appreciation for the credit union difference.” The Cooperative Trust is aiming to bring 50 Crashers to this year’s conference – one from each state. “The energy and enthusiasm surrounding Crash the GAC has been the spark for the Cooperative Trust every single year,” Filene’s Director for Community Development, Cortney Arnold, commented. “The Cooperative Trust and the Crash Program provides exceptional experiences to help emerging leaders develop their careers and Crash the GAC kicks us off. Most importantly, the connections made at CUNA GAC are a catalyst to building a life-long network of passionate credit union advocates.” Crash the GAC and other Crash events throughout the year are designed to spark new ways of thinking and build lasting relationships for emerging leaders and rising talent within the credit union industry. Crashers will leave the nation’s capital with a new hunger to help strengthen their communities and organizations. This highly competitive opportunity is a launching pad for many emerging professionals’ careers and gives them the confidence and insight to make a profound and lasting impact in the industry. Crash the GAC is brought to you by the Cooperative Trust and Filene Research Institute and is made possible by the generous support of CUNA, with help from League partners. |
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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