C.U. on the Show

According to data released by CUNA, 51% of credit union CEOs are women. Still, women are less represented in the credit union workplace now than in the 1980s. Doug welcomes Jill Nowacki and Judy Tharp, leaders in the credit union movement, to the show to discuss the unique challenges women face in the workplace, why more women are choosing to stay home, and how female leaders can position themselv...

In the second part of this “C.U. on the Show” episode, Doug and Jeff delve into the acquiring or buying side of mergers and acquisitions (M&As) and what credit unions should consider first as the acquiring institution. The pair discuss the types of credit unions that may or may not be optimally positioned as an acquirer, the required process and documents, and an alternative capital funding op...

Traditional financial planning offers practical tools for rank-and-file employees; however, it simply doesn’t capture the full breadth of complex financial situations and compensation benefits a credit union executive has to manage in the C-suite. Moreover, with a general lack of financial education available for executives, credit union leaders often can’t realize the full impact of their benefit...

Executing successful credit union mergers and acquisitions (M&As) involves coordinating various financial, social, and political components. In this episode, Doug welcomes guest Jeff Cardone, partner at Luse Gorman, specializing in representing credit unions in M&A transactions with other credit unions, banks, and fee-based businesses, as well as secondary capital, or subordinated debt tra...

In this episode, Doug speaks with Kirk Drake, author of CU 2.0: A Guide for Credit Unions Competing in the Digital Age and founder of Ongoing Operations . They discuss the growing financial technology (fintech) space and how credit unions can partner with these companies to remain competitive in the digital age. Learn more about the requirements to participate, what a typical arrangement looks lik...

In this episode of “C.U. on the Show,” Doug welcomes guest Jeff Cardone to discuss how accessing the subordinated debt (sub-debt) market can be an attractive option in helping credit unions reach their short- and long-term strategic objectives. They also dive into the approval process, a new rule effective in January, and why a credit union may consider getting pre-approved sooner rather than late...

In this episode, Doug is joined by guest Matt Haid, area vice president of Gallagher Executive Benefits. Matt has more than 30 years of experience helping leaders of the credit union movement design, fund, and implement split-dollar plans along with other instruments meant to attract, retain, and reward top executive talent. On the show, Matt explains the different funding options most credit unio...

Collateral assignment split-dollar and 457(f) plans have become popular among credit unions as retention and retirement tools for their top executives. But which of these benefits should your credit union implement? Doug welcomes guest Mike Downey, senior managing director at Newcleus Credit Union Advisors, back to the show. They discuss the key differences between the plans, the benefits a 457(f)...

With the legalization of medical and adult-use marijuana spreading across the country, your credit union may be considering how to begin providing financial services to cannabis-related businesses—or if you should. Doug welcomes Gary Lax to the podcast, a partner at Luse Gorman, specializing in regulatory and enforcement law for financial institutions. Gary offers insight into the rapidly growing...

As a credit union executive, any bold initiative or decision comes with financial or political risk. However, while necessary in driving your credit union forward, your choices ultimately have the potential to affect your future employment and overall financial and retirement plan. In the episode, Doug speaks with ACT Advisors Wealth Specialist Paul Lloyd, CFP® . Paul shares his latest white paper...

At first glance, collateral assignment split-dollar plans (CASDs) appear similar to a pension plan as a means to retain top credit union executives. However, the complex nature of CASDs may mean credit unions and executives could overlook the risks in how the plan’s design, legal agreements, and vesting schedule are structured. To help clarify the features of these plans and offer strategies to he...

Succession planning for credit union CEOs ideally occurs years before their anticipated retirement date. On the show, Doug speaks with Steve Harkins, retired CEO of the former SC Telco Federal Credit Union, about his thorough and innovative exit strategy. Steve shares valuable step-by-step insight into how he positioned internal candidates for the job and involved his board to create buy-in and co...

With a significant increase in member deposits due to multiple government stimulus payments, credit unions have to find new ways to create yields and offset costs. Doug welcomes guest Mike Downey to the show to discuss how credit unions can generate more income and increase profits using a charitable donation account (CDA). Mike discusses how a CDA, which offers alternative investment options, can...

The 2017 Tax Act included provisions that could impose a 21% excise tax for certain nonprofit institutions, including credit unions. Credit unions could be subject to the tax if they pay more than $1 million in income to an executive in one calendar year. While many executives may not meet that threshold in salary alone, the law also factors in executive benefits such as 457(f) distributions, whic...

Is your executive compensation benefits package positioned to support your credit union and management team 5, 10, or 20 years down the road? Doug welcomes insurance and executive benefits expert Michael Blank to the show to discuss why conducting ongoing due diligence when selecting service providers, designing and implementing a plan, and considering long-term performance are essential. Addition...

From the front line to the executive suite, every credit union employee has different needs when planning for retirement. It is why guest Phil Westhoff, who leads the Qualified Plan Advisory Group at Stearns Financial, discusses why a one-size-fits-all approach to employer-sponsored retirement plans isn’t beneficial for plan participants. Doug and Phil discuss why credit union executives should ta...

Judy Tharp, retired president and CEO of Piedmont Advantage Credit Union, discusses her 40-year career with Doug, including becoming a CEO at the age of 22. She shares the insights she gained from her experience, how to get buy-in from a credit union board, and advice for rising credit union leaders. She also speaks particularly to female professionals and their unique challenges, such as managing...

How can credit unions stay relevant when big banks drive trends? Doug English welcomes Steve Fowler, retired president and CEO of the South Carolina Credit Union League (SCCUL), to discuss his role during the rapid growth period of credit unions in the 2000s. Steve recounts how leaders of the credit union movement innovated to meet members’ evolving needs in the face of new products and services o...

Executive compensation benefits are essential to incentivizing and retaining top executives while helping them save enough for retirement. While these types of packages are critical to a credit union executive, proposing new benefits and seeking buy-in from a credit union board can result in an awkward and challenging conversation. In the episode, Doug talks to Andy Sheeter, founder of the Sheeter...

In the kickoff episode, host Doug English welcomes Jim Gowan, former chief officer of sales and marketing at CUNA Mutual and former chief operating officer at Credit Union 24. In the episode, Doug and Jim introduce the show and discuss how it can help credit union executives retain top talent, meet members’ evolving needs, strategically balance personal finances and professional objectives, and mo...

In the final installment of Doug’s interview with Harry Gunsallus, they continue their conversation about the considerations credit union CEOs should take when pursuing a merger and acquisition (M&A). Harry shares the differences between a credit union merging with another credit union or purchasing a bank in the episode. With more than 20 years in the credit union and banking space, Harry has...

What should a credit union executive consider before pursuing a merger and acquisition (M&A)? Credit union CEOs may consider M&As as an opportunity to balance financials and maintain growth. Still, there are important factors to evaluate before beginning the process of targeting a potential partner. Our guest, Harry Gunsallus, has spent more than 20 years in the financial services space, h...