The Alaska USA Foundation recently donated $55,000 to local nonprofits dedicated to helping children and families in need throughout the states of Alaska and Arizona. These donations mark a particularly special milestone for the Alaska USA Foundation, as they bring the Foundation’s charitable giving contributions total to more than $4 million since its inception in 2003. Recipients of the Alaska USA Foundation $55,000 support include: Feeding Matters - supports children and families navigating the difficulties of pediatric feeding disorder (PFD). They work to improve the health and well-being of children and their families through advocacy and programs that support, educate, and empower parents. Kids Kupboard - has connected thousands of at-risk children to more than one million fresh healthy meals to help keep them more productive in school. Covenant House Alaska - provides shelter and services for kids and youth, ensuring that no child must ever face hunger, homelessness, isolation, or the dangers of the street. “Thanks to the generosity of our Alaska USA employees and members, the Alaska USA Foundation has donated an incredible $4 million to change lives and improve communities,” said Dan McCue, Executive Director, Alaska USA Foundation. “It’s an important milestone that reemphasizes the Foundation’s primary mission of supporting organizations that have proven to bring positive change for those in need.”
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Sequoir announced today that its digital asset (cryptocurrency) solutions are now accessible through the Jack Henry™ digital banking platform. As cryptocurrency assets become more mainstream, demand has increased for digital asset solutions integrated with traditional financial products and services. For financial institutions, providing this digital asset solution tightly integrated with existing products and services is essential to meet user needs. Until recently, if a financial institution wanted to offer a way to buy, sell and hold digital assets, they had limited options. They could either develop a solution from scratch or use an off-the-shelf product which may not provide the long term flexibility they desire. Sequoir leveraged the Banno Digital Toolkit™, the same set of APIs the Banno Digital Platform™ is built on, to embed its technology into the digital experiences offered by community and regional financial institutions. Access to Jack Henry’s API, design, and authenticated frameworks has enabled Sequoir to directly integrate into the digital banking platform providing an easy-to-use, seamless banking experience. This integration contributes to Jack Henry’s growing ecosystem of over 850 fintechs, providing approximately 8,000 financial institutions with relevant financial products and services for their accountholders. “Financial institutions now have an excellent way to offer digital asset services to their customers or members. Plus, they don’t have to build one-off solutions from scratch. Our API-based platform means it’s easy to add new features and functionality as users’ expectations evolve,” says Justin Seidl, CEO of Sequoir. Financial institutions can take advantage of Sequoir's unique conversion and custody capabilities to create a safe and easy way for customers or members to buy, sell and hold digital assets while they stay within their primary financial relationship. And, with the capabilities of an industry-leading provider like Jack Henry behind it, they can have confidence the solution will meet the highest security and compliance standards. To learn more about how Sequoir can help your financial institution take advantage of the digital asset revolution, visit www.sequoir.com today. Governance, risk and compliance (GRC) technology and consulting firm ViClarity was recognized last week by the RegTech 100. The 100 regulatory technology companies named to the list are considered the world’s most pioneering businesses in the regtech market. Each is helping financial institution GRC teams automate, manage and measure some of today’s most critical compliance and risk management processes. This is the third time ViClarity has been named to the RegTech 100 since the firm’s establishment in 2008. Credit unions across the world rely on ViClarity’s platform to automate risk and compliance processes, including policy, vendor and complaints management. The platform complements ViClarity’s comprehensive suite of consulting and audit solutions for credit unions. “Inclusion on the RegTech 100 list is a great reward for the dedicated team behind the ViClarity software,” said ViClarity Global CEO Miriam De Dios. “From developers to engineers, auditors to compliance experts, sales to operations, every member of our global team has contributed to making the ViClarity platform what it is today—a highly dependable technology asset for hundreds of risk and compliance teams around the world. We are continuously looking at new features to meet the fast-changing needs of organizations in financial services and other highly regulated markets. The other RegTech 100 companies share our growth mindset and tireless spirit of innovation, and we’re honored to be listed beside them.” The full list of companies named to the 2023 RegTech 100 list can be found at fintech.global/regtech100. Skyla Credit Union, a full-service, not-for-profit financial institution headquartered in Charlotte, NC announced today that the members of Parsons Federal Credit Union (Parsons FCU) have approved the merger of the two organizations. The merger of Parsons FCU with Skyla Credit Union will further expand the combined credit union’s economies of scale for enhanced operational efficiency and member services. With the merger, Skyla will expand its footprint beyond the Carolinas region to service members nationally, including the employees and affiliates of the Parsons Corporation. The merger will be effective on January 1, 2023, and will be completed with Parsons FCU’s member data conversion in August 2023. “We are pleased to welcome the members of Parsons FCU to the Skyla family,” said Eric Gelly, President and CEO, Skyla Credit Union. “It’s our honor to continue the long history of exemplary service Parsons FCU has delivered to its members since 1975. With this merger, we are confident that our united organization will deliver an even broader range of banking services, technology, and resources that Parsons FCU members can leverage to achieve their financial goals.” “At Parsons FCU we have always been committed to being there for our members as they go through their life’s journey,” said Ray Crouse, President/CEO, Parsons FCU. “Our merger with Skyla furthers this mission. We are excited to merge our people, products, services, and operations to deliver more to our members and have an even greater impact on their lives.” With this merger, Skyla will be adding two additional locations, one in Pasadena, CA and one in Centreville, VA to its existing 17 branch locations in North and South Carolina and will have assets of approximately $1.4 billion. This marks Skyla’s move to become a nationally recognized credit union. Following the merger, the Parsons FCU branches will remain open, operating under the Skyla Credit Union brand. For Parsons FCU members, the merger expands membership services including access to a 24/7 contact center, complete business loan and business account offerings, expanded online and mobile banking tools, access to lower borrowing rates and higher yields among other new benefits. Eric Gelly will be president and CEO for the newly merged credit union and Ray Crouse will become the president of the wealth management group and CUSO (Credit Union Services Organization) for the combined entity. Three members of Parsons FCU’s Board of Directors will join the Skyla Board, two as Board members and one as an Associate Board member. For more information, visit: www.skylacu.com/parsonsfcu. Wings Financial Credit Union Sponsors 36 Credit Unions Into Credit Union Awareness Program12/9/2022 Credit Union Awareness® announced today that they are working with Wings Financial Credit union in Minnesota, a longtime supporter of the awareness initiative, to welcome 36 Minnesota-based credit unions into the program. Wings Financial CU is celebrating its 5th year as a participant and honoring the cooperative structure of credit unions to create a cycle of mutual assistance towards the common goal of the financial well-being of credit union members. “I’m a big believer in the Awareness initiative and the true power of cooperative efforts,” stated Frank Weidner, President and CEO of Wings Financial Credit Union. “We’re excited to make the awareness initiative accessible to more credit unions in Minnesota.” “We’ve seen firsthand the impact of credit unions coming together to raise awareness and consideration, Wings CU is now raising the bar in Minnesota to sponsor credit unions who can now reach more consumers in their communities,” said Chris Lorence, Executive Director of CU Awareness LLC. “The ongoing investment Minnesota Credit Unions have made to boost consumer awareness is paying benefits in growth and knowledge of consumers across the state,” said Mark Cummins, President & CEO of the Minnesota Credit Union Network. “We are proud to be the first state to launch the national Credit Union Consumer Awareness Initiative in 2019 and since then, have seen both increased average membership growth and consumer familiarity of credit unions. We are excited about the opportunity to expand the program further with this sponsorship.” Congratulations to Wings Financial CU and to the following new participating credit unions in Minnesota: RAINERD B. N. STAR CHOICE NORTH STAR NORTHRIDGE COMMUNITY ELY AREA PROCTOR FEDERATED EMPLOYEES EMBARRASS VERMILLION NORTH MEMORIAL PIPEFITTERS-STEAMFITTERS UNITED EMPLOYEES NORTHERN STATES POWER - ST. PAUL WAKOTA MINNESOTA CATHOLIC VIRGINIA COOP WEST METRO SCHOOLS TORO EMPLOYEES CITIES CATHOLIC UNITED FINANCIAL DEER RIVER COOPERATIVE CITY AND COUNTY EMPLOYEES TRADES & LABOR TEAMSTERS AUSTIN CITY EMPLOYEES MOWER COUNTY EMPLOYEES FIRST PACE METROPOLITAN SERVICES ELECTRIC MACHINERY EMPLOYEES RED LAKE CO OP RIVERVIEW MOWER COUNTY CATHOLIC PARISHES DULUTH FIRE DEPARTMENT LATVIAN FAIRMONT SCHOOL EMPLOYEES TRANSIT OPERATIONS DANFOSS EMPLOYEES YourMoneyFurther is the only digital resource aimed at educating consumers about credit unions. The website is dedicated to empowering people to make financial decisions with confidence. Credit Unions are the best-kept secret, and Your Money Further is here to help consumers learn more about the unique benefits of joining a credit union. Visit YourMoneyFurther.com to learn more. How credit unions can take advantage of short-form video to connect with Gen Z TikTok, the video-sharing app that allows users to create and share 15- to 60-second videos on any subject, is quickly becoming the preferred platform for financial brands targeting Gen Z and Millennials who engage with short-form video content apps. To effectively use TikTok, it's important to understand the TikTok statistics that tell you what types of users are on the platform and how they interact with the app. Worldwide, TikTok has over 1 billion monthly active users. Though it does not have as many users as Facebook, Instagram or YouTube, TikTok's recent 45% growth has garnered attention, plus it is extremely popular with kids. Some quick TikTok stats to ponder:
And finally, a short sales pitch... If you are wondering where you’re going to find more time in your day to source and produce short-form video content, you’re not alone. According to Wyzowl:
At Currency Marketing, our very existence is built on helping credit unions connect with their members and communities in ways that add value and meaning. Our new Shorts Bundle of 18 fast-paced short videos that are perfect for Facebook, Twitter, Instagram and TikTok is a great example. We created 18 short, financially informative and entertaining videos in horizontal and square formats with suggested social media post copy. It’s an exciting bundle that can be licensed on its own or added to any of our It’s a Money Thing membership plans. “Consumer credit balances grew by $27.1 billion in October, slightly higher than forecasted. Revolving debt grew at an accelerated pace of 10.4 percent. Growth in nonrevolving credit such as auto and student loans decelerated from 6.1 percent to 5.8 percent. Overall, balances are still slightly below the pre-COVID trend following the sharp deleveraging in 2020 followed by the rapid buildup more recently. Lenders are beginning to curtail the provision of revolving credit. In the Federal Reserve’s latest Senior Loan Officer Opinion Survey, ‘moderate net shares of banks reported tightening lending standards for credit card loans and other consumer loans.’ Meanwhile, non-revolving debt has been growing at a more modest pace. NAFCU expects consumer credit to continue expanding in the fourth quarter as households tap available credit during the holiday shopping season.” – NAFCU Chief Economist Curt Long BankiFi, a fintech aimed at helping small/medium-sized businesses (SMBs) by putting banks and financial institutions back at the heart of business, finished the year strong with a series of milestones that position it to become a leader in the SMB banking space in 2023. In July, BankiFi announced its expansion of operations into North America, with a subsequent $4.8 million in funding raised to kickstart this campaign. The capital will help BankiFi’s goal of providing its embedded banking platform to over two million SMBs across four continents by 2024. This comes as a result of financial institutions in the United States facing existential threats from non-bank service providers, payment platforms, and accounting package vendors that are offering a competitive suite of payment solutions, credit, and digital services to SMBs. As part of their expansion into North America, BankiFi also appointed Tom Shen as chair of the company’s global Board of Directors, Danny Piangerelli as Chief Technology Officer and Fred Dumas as Chairman. Together, they bring decades of industry experience in ways that will improve the leadership and technological aspects of the company. Within four months of U.S. expansion, BankiFi won its first North American customer, Axiom Bank. The partnership will enable Axiom to continually update their offering to customers by adding new functionality to an already industry-leading platform. In doing so, the two companies aim to fill a void within the suite of digital financial workflows designed for the SMB vertical. The solution allows payments to be collected faster, data integration to be automated, and valuable business insights to be readily available within a unifed digital experience. BankiFi also partnered up with its first major open finance provider, MX Technologies. Through this collaboration, financial institutions will be able to bring account connectivity and data access to a robust suite of banking solutions tailored to the unique needs of small to medium-sized businesses. This partnership coupled with BankiFi’s integrations with leading accounting platforms provides SMBs with a holistic view of accounts receivable and payment activity, as well as a centralized platform to view operating accounts. BankiFi has also been shortlisted as a finalist for the 12th Annual BAI Global Innovation Awards: The financial services industry’s leading innovation honor. this award serves as a notable feather in BankiFi’s already impressive cap. “We have designed and enabled our suite of services based upon the unique needs of the small business customer, the ultimate end user, in all scenarios – we don’t think of what we provide in terms of our suite of digital solutions as embedded banking in a traditional sense,” said Keith Riddle, CEO of the Americas at BankiFi. “We provide an offering that allows FI’s to become more customer-centric, and less product-led in terms of their mindset by allowing their SMB customers to integrate their accounting package and other administrative platforms, straight into the bank’s branded digital channel.” Affiliates Management Company (AMC), the holding company of the Iowa Credit Union League (ICUL), is pleased to announce the appointment of a new board member, Lucy Ito. Ito has more than 30 years of diverse executive experience as a highly respected leader in various segments of the credit union industry across the globe. Currently the interim CEO of Orange County’s Credit Union in California, she previously led the National Association of State Credit Union Supervisors (NASCUS) as President and CEO for more than seven years. Prior to her tenure at NASCUS, she was the Executive Vice President and Chief Operations Officer at the California and Nevada Credit Union Leagues, and served as Vice President of the World Council of Credit Unions for 5 years. Ito was awarded the prestigious National Credit Union Foundation’s Herb Wegner Memorial Award for Outstanding Individual Achievement in 2021. “I am thrilled to join the AMC board of directors and I look forward to advancing the credit union movement in new ways by providing strategic guidance to the AMC family of companies,” said Ito. As the holding company of ICUL, AMC owns a family of companies including Coopera, First Community Trust, PolicyWorks and ViClarity, each providing unique services to businesses and consumers throughout the credit union industry and other industries. “The strategic leadership provided by AMC’s board of directors is integral to the success of our family of companies and shared mission of improving the financial lives of consumers,” said Murray Williams, CEO of AMC. “I could not be more pleased to have Lucy join our board. Her strategic vision, extensive experience and passion for our movement will be a tremendously impactful addition to our board.” Information about AMC’s Board of Directors may be found here. On Veterans Day, Credit Union of Southern California (CU SoCal) partnered with the W.S.W. Foundation, a non-profit group dedicated to helping veterans in need, to assemble nearly 3,000 care package kits for veterans. CU SoCal employees helped assemble the kits as part of the credit union’s annual Building Better Lives Forum, an event where the credit union team learns about strategic initiatives and participates in a charitable cause. Before assembling the kits — which contained items such as soap, hand sanitizer, toothpaste, shampoo, and other day-to-day necessities — members of CU SoCal’s senior team and W.S.W. Foundation staffers briefly spoke about the non-profit organization’s mission and importance in a growing time of homelessness. Shortly after, the room was buzzing as droves of CU SoCal employees excitedly assembled stockpiles of provisions in the large showroom of the Sheraton Fairplex Hotel and Conference Center in Pomona. “Service projects like this provide an opportunity to directly help our community and team up with like-minded organizations that share our mission of building better lives,” said Dave Gunderson, CU SoCal President and CEO. “We are honored to have the opportunity to carry out service projects like this, and it’s gratifying to share the vision of organizations like the W.S.W Foundation.” |
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
May 2024
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