Financial Plus Credit Union proudly raised $25,000.00 for Hurley Medical Center’s Breast Cancer Navigation Fund through a $10,000 partner donation, series of mini-fundraisers and employee donations. All proceeds will benefit local cancer patients via Hurley’s Breast Cancer Navigation Fund.

On October 17th, 2024, Financial Plus and Hurley Medical Center partnered to host the 16th annual Pink Night Palooza at Flint’s historic Capitol Theatre. The main event featured a lively atmosphere with a bra- artistry fashion show and a live auction led by community leaders Sheriff Chris Swanson, Lisa Marie, and McKenzie Miller. Hurley Medical Center shared the event’s current grand total of $157,000, which includes sponsorships, auction sales, mini-fundraisers, and merchandise. Hurley will announce a final 2024 campaign total in the coming months after all contributions have been collected.

“We are incredibly grateful to Financial Plus for their generous commitment of time, talent, and treasure in supporting Pink Night Palooza which is the largest event-based fundraiser that benefits our Breast Cancer Navigation Program,” said Karima Amlani, President of the Hurley Foundation. “Thanks to Pink Night Palooza and other community-based fundraisers, this fund has been able to subsidize a dedicated Breast Cancer Navigator at Hurley Medical Center, ensuring that patients receive personalized support throughout their treatment journey. Last year alone, the fund provided over $93,000 in direct patient services, making a profound impact on the lives of many individuals facing breast cancer. I am excited to see what 2025 has in store for the Pink Night Palooza dream team!

Throughout September and October Financial Plus supported Pink Night Palooza by hosting their annual mini-fundraisers, including the third Banking to Beat Cancer campaign, which raised $7,682.54. On October 3rd and 4th, all Financial Plus branches participated in their Pink Bake Sale, generating an additional $5,650.27 through the support of members, branch employees, and donations.

“Alongside Hurley, we’ve worked together to make Pink Night Palooza a true demonstration of our community’s dedication to supporting local cancer patients,” said Brad Bergmooser, President and CEO of Financial Plus Credit Union. “The funds raised through Pink Night are more than just donations—they represent resilience, hope, and an ongoing commitment to helping our friends and neighbors through their most challenging times.”

Hurley’s Breast Cancer Patient Navigation Program is a vital year-round free service to help local men and women during treatment and recovery. The program identifies gaps within patient care and assists with financial hardships a patient might encounter, such as groceries, bill payments, treatment co-pays, medication, and wigs.

​High interest rates, staggering consumer debt and technological advancements shaped a complex lending landscape this year. Happy Money, a leading consumer finance company, has outlined key trends expected to impact the lending industry in the year ahead. The big takeaway: Financial institutions and lenders will be looking to put their capital to work in ways that diversify their balance sheets while helping consumers reach their financial goals.

• Lending strategies will solidify following Fed rate cuts. With two rate cuts so far this fall, the Fed has signaled the end of the rising rate cycle. Falling rates will stabilize deposits and loan to share ratios, providing more capacity for financial institutions to get back into growth mode. Those who want to get ahead of the curve will look to solidify their lending strategies to power responsible and intentional growth, optimize their portfolios and provide strong borrower experiences.
• ​Indirect auto loans will continue to decline. The decline in indirect auto loans, especially across credit unions and community banks, will persist next year. After all, indirect auto lending is a tough business, with razor thin margins and disintermediation of banks and credit unions. Instead, institutions will turn to other avenues to diversify balance sheets and gain assets with an attractive risk-adjusted return. This is especially important as increased deposit costs and accelerated competition will put net interest income under pressure for small and medium-sized banks.
• The pain of inflation will persist. While inflation has moderated and will continue toward the Fed benchmark level of 2%, consumers won't see real relief at the cash register or related to their living costs in the near term. Diligent management of their individual and household balance sheets becomes even more critical as they have consumed a significant portion of their credit and savings. Consumers will need to make trade-offs or restructure their balance sheets to manage cash flow until the point that their income catches up to the level prices reached in the recent inflationary period. Financial institutions should focus on tools to help consumers manage their budget and products that help them more effectively manage their cash flow and reduce the burden of high-interest debt.
• Consumers will look for support in consolidating their debt. High-interest rates and inflation have caused credit usage for short-term needs to skyrocket this year, bringing U.S. credit card debt to a staggering $1.14 trillion, with average credit card interest rates sitting at a record high of nearly 23%. By contrast, consumer unsecured loan rates are roughly 7.5% lower than that of credit card APRs, with those high credit card APRs likely to linger. This discrepancy represents the highest spread between personal loans and credit card interest rates in recent history. In response, an increasing number of consumers will look to deleverage and reduce their financial stress by paying off high-interest credit card debt next year. In fact, refinancing credit card debt into unsecured personal loans could save U.S. households over $80 billion annually. More financial institutions will take action to help consumers streamline their debt and achieve their financial goals in the coming year.
• Risk management meets AI in lending. Should consumer strength hold up as is expected in a soft-landing scenario, credit performance will continue to improve risk- adjusted returns. Lenders will also look to improve returns through the use of smarter technology. AI-driven decision-making in finance will become more commonplace next year; however, it cannot and should not replace sound risk management. Regulators are setting more rigorous standards to oversee risk in AI tools, and financial institutions must be prepared to quickly adapt. A solid understanding of an institution’s risk policy and credit culture will be critical to effectively and compliantly explore AI.

“In 2025, there is a notable opportunity for credit unions, banks and asset managers to fortify their lending strategies and help consumers make a real impact on their financial health and happiness,” said Matt Potere, CEO of Happy Money. “The institutions that heed these trends and respond accordingly will be well positioned to not only help people reach their goals through responsible lending but also diversify and grow their balance sheets through assets with an attractive risk-adjusted return.”

Keesler Federal Credit Union and Jefferson Financial Federal Credit Union Boards of Directors on Wednesday announced plans for the largest credit union merger in Louisiana and Mississippi history, resulting in enhanced services for members of both credit unions and a more robust footprint stretching across the Gulf Coast.

Jefferson Financial Federal will be merged into Keesler Federal Credit Union. The resulting organization will have combined assets of just under $5 billion, with 55 branch locations across Louisiana, Mississippi, Alabama, and the United Kingdom, and more than 900 employees.

The leaders of both cooperative organizations said the synergies of the merger make sense for their respective institutions. Keesler Federal has strategically moved into the greater New Orleans region with seven locations and high-profile sponsorships of the New Orleans Saints and New Orleans Pelicans professional sports franchises. Once the merger with Jefferson Financial Federal is complete, Keesler Federal will have 21 Louisiana locations stretching from New Orleans and the river parishes to Baton Rouge.

“We are pleased to be joining forces with Jefferson Financial Federal Credit Union and bringing greater service and accessibility to our members,” said Andrew Swoger, President & CEO of Keesler Federal Credit Union. “From a business perspective, it is a great fit that will strengthen both institutions and allow greater accessibility and services. It’s a win-win for our members.”

Jefferson Financial Federal Credit Union was chartered in 1966 and has assets of around $700 million and about 150 employees. Both credit unions bring strong records of service to members and the communities they serve, said Mark Rosa, Jefferson Financial Federal President and CEO.

“Keesler Federal and Jefferson Financial Federal share a culture of service,” Rosa said. “Our members will continue to enjoy the hands-on service they are accustomed to and will now have even more options available to them.”

The merger proposed by the two credit unions must be approved by the National Credit Union Administration (NCUA). Once NCUA approval is secured, ballots will be mailed out to Jefferson Financial Federal members for their consideration. Until then, it will remain business as usual for both credit unions. Once the merger is approved by Jefferson Financial Federal members, the merger process will begin in earnest. Full integration under the Keesler Federal Credit Union name is not expected to be completed until late 2025 or early 2026.

“This opportunity would not have happened without the strong support of the Boards of Directors of both Keesler Federal Credit Union and Jefferson Financial Federal Credit Union, and the skillful facilitation of Olden Lane who guided us to the definitive agreement,” said James Hollingsworth, Chairman of the Board of Directors of Keesler Federal Credit Union.

​APCU/Center Parc Credit Union – Georgia's oldest credit union with more than $2.3 billion in assets and serving over 107,000 members nationwide, announced that it has added Buy Now, Pay Later (BNPL) to its suite of online banking products.
 
APCU/Center Parc is the first credit union to launch BNPL in Georgia. It has selected equipifi, a leading BNPL platform designed for financial institutions to power its solution. With this launch, APCU/Center Parc will extend personalized BNPL offers for members to split payments on eligible debit card transactions. APCU/Center Parc members will be able to view and accept pre-qualified BNPL offers in their digital banking experience.
 
“At APCU/Center Parc, we are dedicated to our members who have chosen to bank with us to reach their goals and build their futures,” said Blake Graham, President and CEO at APCU/Center Parc. “With the launch of BNPL powered by equipifi, our members will receive state-of-the-art purchase financing that is personalized to their budget and needs, from the financial institution that they trust.”
 
“Buy Now, Pay Later is a financial service that consumers want and are increasingly expecting from their primary financial institutions,” said Bryce Deeney, CEO and co-founder of equipifi. “By launching BNPL, APCU/Center Parc is delivering safe and intuitive access to credit in the way that their membership prefers.”
 
APCU/Center Parc joins dozens of credit unions across the United States that have launched their own BNPL product to their members. BNPL is projected to grow at a compounded annual rate of 25.5 percent between 2022 and 2026.

​Member Driven Technologies (MDT), a CUSO that hosts the Symitar core processing system from Jack Henry™ to provide a private cloud alternative for core processing and IT needs, today shared trends expected to most significantly impact the credit union community next year.

More concrete education – and then action – around AI as the product ecosystem continues to explode. AI has been the major trend of 2024, and still there are challenges in the sense of understanding organizational policy on when and how AI can be successfully leveraged in an industry that is constantly exposed to sensitive member information. In 2025, we’ll see more education and guidance shared from trusted AI partners which will help credit unions select which use cases and AI providers might work for their unique institution and member needs.

This will be especially critical as new AI players continue to explode onto the scene seemingly daily; the landscape is only going to grow more crowded and therefore confusing for credit unions. We can also expect a surge in data-focused initiatives next year, as establishing robust data infrastructure, governance and analytical frameworks should be a prerequisite to any AI initiatives.

All eyes on security – for credit unions and their vendors. Data security will remain a top priority, with an increased focus on not only safeguarding internal data and information but also ensuring that vendor data management is up to par. With the rise in vendor data breaches and cyberattacks, it will be more important than ever for credit unions to understand how their vendors are managing and protecting their data. And, these conversations should now include questions around how and if vendors are incorporating AI into their product feature set, and unknowingly to their end users. 

The expansion of business services. Credit unions have long dominated the financial industry in terms of service; however, that gap is shrinking with banks quickly catching up. Next year, credit unions will double down on ensuring they are able to offer the services and solutions members want – including comprehensive business services for companies of all sizes. After all, availability of solutions is a critical service differentiator. By offering relevant commercial deposit and lending services, credit unions can better support businesses throughout their communities while also maintaining and growing their competitive differentiator.

Creating seamless, integrated payment experiences. In 2025, it will be crucial for credit unions to prioritize offering seamless, integrated payment solutions that provide members with greater flexibility and choice. With growing demand for digital wallets and real-time payment methods, members expect to be able to pay how and when they want.

Leveraging Robotic Process Automation (RPA) for efficiency gains. Credit unions are increasingly exploring RPA to streamline repetitive tasks and enhance operational efficiency. In 2025, we expect a growing number of credit unions to adopt RPA for processes like member onboarding, compliance reporting and loan servicing. By automating these workflows, credit unions can improve accuracy, save time and allocate resources to higher-value strategic initiatives, positioning themselves for long-term success.

A shift toward becoming more project oriented. We have seen credit unions start to become more project oriented, with some even forming their own project management offices. This is a huge departure from how things have traditionally been done, with projects primarily being run by branch managers or someone in IT. By becoming more project oriented, credit unions can be more dynamic and proactive, positioning themselves to navigate emerging challenges and seize new opportunities. This trend demonstrates that there is no limit to what credit unions will do or how they’ll pivot to ensure they are effectively competing, and most importantly, meeting members’ needs.

"Credit unions currently face increased security risks, an influx of new market entrants, consumer demand for increased choice and more competition than ever before,” said Matt Baaki, CTO at MDT. “Next year, it will be critical to rely on trusted partners to help credit unions navigate the challenging fintech landscape, helping them to make strategic decisions that will drive growth and success. We are proud of the adaptability and determination of the credit union community, and we look forward to continuing to help them meet their goals next year and beyond.”

​Union Credit, the only marketplace for credit unions to deliver firm pre-approved, one-click credit offers at the point of purchase, today announced the success and recognition of its platform a year after launch.
 
As credit unions prioritize balancing portfolios and attracting new members, Union Credit’s platform has proven to be an effective member acquisition tool. In the past year, Union Credit has integrated over 50 credit unions into its marketplace, bringing in more than 20,000 new members to the credit union movement – 60% of which were under the age of 40 – and originating over $106M in personal loans. Additionally, 35% of new members have opened checking accounts.
 
Union Credit achieves this by embedding pre-approved credit offers directly into digital platforms and merchant websites, including Experian, Way.com, Bankrate, QuinStreet, LendingTree, and more. This enables participating credit unions to connect with younger, credit-qualified consumers directly within the apps they already use.
 
Municipal Credit Union has seen significant benefits since joining the marketplace. MCU has been shortlisted by Fintech Futures for a Banking Tech Award based on member growth and process automation after a successful implementation of Union Credit's embedded fintech approach, converting over 90% of leads that choose MCU for their borrowing needs.
 
Michael Savino, chief lending officer at Municipal Credit Union, said, "It’s not just about lending; Union Credit is a member acquisition tool that helps us grow and thrive in a competitive market by making it easier to offer products through online platforms consumers are already familiar with. The platform’s flexibility allows us to tailor the products we offer and expand as needed, helping us connect to new members, while promoting the unique value of credit unions.”
 
Capital Credit Union has also seen strong results through Union Credit’s embedded approach. Steve Zich, CMO at Capital Credit Union, said “Partnering with Union Credit allows us to connect with consumers in ways we couldn't before, offering quick access to loans and deposits right when they’re needed. It’s an important step in simplifying access to our services, promoting financial well-being within our community, and allowing us to compete with larger financial institutions and fintech.”
 
The latest addition to the Union Credit platform is the launch of Further, an embedded lending toolset and financial resource network, designed to strengthen credit unions’ foothold in their communities. This new channel enables local merchants, retailers and service providers to offer instant loan approval from local lenders at the point-of-sale, keeping spending within communities and easing the burden on retailers. Non-financial websites and retailers that don’t traditionally offer financing opportunities can provide an embedded finance solution to their customers, adding value for their users, while unlocking an entirely new revenue stream. 
 
"We're proud of the success we’ve seen in our first year, supported by strategic partnerships with publisher platforms and forward-thinking credit unions," said Dave Buerger, co-founder and CEO of Union Credit. "We believe that community financial institutions are the best-kept secret in financial services, and our mission is to ensure their superior products and services are accessible to consumers at every moment of need. With the addition of Further, we continue to advance this mission, and we're excited to see how much more we can achieve in supporting our lending network and their local communities."
 
Union Credit’s impact has earned recognition across the industry, including a Finopotamus Tekkie Award for member growth, Finovate Award for Top Emerging Fintech Company, and named a 2024 LendTech of the Year at the Fintech US Awards; the company was also named a finalist in Fintech Future’s Banking Tech USA for its embedded finance initiatives and ranked #1 on American Banker’s 2024 Best Places to Work in Fintech list.

The 2nd annual Silvur Pickle Baller Invitational was held at the The Star- Dallas Cowboys Headquarters on opening night of Venture Tech.  In front of a crowd of over 150 credit union execs and technologists 40 brave souls fought for trophies... and industry pride. Pickleball is the favored sport of retirees.  At VentureTech participants played modified single elimination brackets which included 'rally scoring' with points awarded after every rally.  

Special thanks to our Referees Brian Lauer (Messick Lauer & Smith), Ronaldo Hardy (NACUSO), Jenny Jackson (CUNA CSS) and Kyle Stutzman (PureIT).  The event was MCed by veteran hosts Michael Lawson and Jonathan Taylor.

Announcing the 2nd Annual Silvur Pickle Baller Awards

The (returning) 2024 Silvur Pickle Baller Invitational Champions: Michael Perrin and Rowan M. Hume of Curql

The Most Athletic Credit Union: Dan Sutton and Tom Thole of KEMBA Financial Credit Union

Best First Timers: Kevan Williamson and Thomas Cargile of Georgia's Own Credit Union

Most in Need of Coaching: Michael Irwin of UFCU

​Union Credit, the only marketplace for credit unions to deliver firm pre-approved, one-click credit offers at the point of purchase,  announced it has been named LendTech of the Year at the 2024 US FinTech Awards, presented by FinTech Intel. These awards recognize outstanding innovation and leadership across the U.S. financial technology landscape.
 
Union Credit is recognized for its embeddable, plug-and-play loan marketplace, which transforms lending into a powerful acquisition tool. The platform enables community financial institutions to seamlessly integrate their competitive loan offers at the point of sale on trusted digital platforms and merchant websites; consumers can select a pre-approved offer that best fits their needs, making it easier to complete their purchase. With 80% of younger generations shopping online and often leveraging embedded finance, Union Credit’s approach is key to revitalizing community financial institutions and ensuring long-term growth.
 
By participating in the marketplace, community financial institutions can reduce acquisition costs, minimize risk, eliminate financing barriers for consumers, and foster financial inclusion within their communities. Merchants who embed Union Credit’s solution into their online services benefit from providing customers local, competitive financing options at the point of sale. Since launch, in Summer 2023, Union Credit has formed strategic partnerships with digital platforms including Experian, Bankrate, LendingTree, and more.
 
"Union Credit is honored to be named LendTech of the Year, underscoring our commitment to reshaping the lending experience with a seamless, transparent approach," said Dave Buerger, co-founder and CEO at Union Credit. "Instead of requiring consumers to search for loans, we’re turning the process on its head by displaying pre-approved loan rates, terms, and limits right at the point of sale as they shop. By knowing their options upfront, consumers can make informed financial decisions without the usual hassle and uncertainty of traditional loan applications. As a result, the institution can increase loan volume and effectively compete in a crowded market.”