CUNA News Podcast

When consumers drive 70% of economic activity, as they do in the U.S., any significant disruption to peoples’ lives will have a corresponding impact on the economy. That is certainly the case with the coronavirus outbreak , which has created rapid, widespread, and severe economic disruption. As a result, CUNA economists have revised their 2020 economic growth forecast from 1.8% to -2.25%. They als...

O Bee Credit Union in Lacey, Wash., is a 45 minute-drive from the Kirkland, Wash., nursing home that was the initial epicenter of the coronavirus outbreak. The area’s credit unions were among the first in the nation to implement their pandemic response plans, which included closing branch lobbies, expanding remote work arrangements, offering special loans , waiving fees, and more. This episode of...

The coronavirus outbreak, while first and foremost a humanitarian crisis, will have a substantial financial impact on credit unions and their members.  While the extent of that impact isn’t clear, Mike Schenk, CUNA chief economist/deputy chief advocacy officer, says one approach will keep credit unions on the right track: Be flexible and continue to engage with and assist members to the best of yo...

Credit Union Magazine ’s 2020 Credit Union Heroes share a common bond of driving large-scale change by immersing themselves in the communities they serve. This year, we profile four heroes who build lasting partnerships, speak to credit union values, cultivate the art of lending, and identify new doors to open.  All four heroes distinguish themselves as unsung champions of the movement by promotin...

As a nationwide provider of residential mortgage lending services, QRL Financial Services has made a steadfast commitment to help credit unions achieve more profitable mortgage operations while delivering an exceptional experience for their borrowers.  The company’s suite of offerings includes mortgage fulfillment services, retail lending, wholesale lending, correspondent lending, and sub-servicin...

The primaries for the 2020 presidential elections are just kicking off, but there are already noticeable differences in the way campaigns are being run compared to previous elections, says David Plouffe, president, policy and advocacy at the Chan Zuckerberg Initiative and campaign adviser for President Barack Obama in 2008. “It’s definitely one of the most unsettled and fluid primaries the Democra...

In the workplace and within team environments, organizations should characterize people by who they are rather than what they lack, says author and consultant Marcus Buckingham. That’s where companies will see the greatest return on investment from their employees. Buckingham will address the 2020 CUNA Governmental Affairs Conference , Feb. 23-27, in Washington, D.C.  In this podcast, Buckingham e...

During his 10 years on the supervisory committee, Tim Goblirsch has seen the committee’s role change  from one that merely took in information to a group that is now focused on enterprise risk management and the issues a growing credit union faces. “If we’re going to serve members in every area of their financial lives—whether it’s auto, home, or business lending, or an improved digital platform—w...

As a credit union branch manager in the 1990s, Chris Lorence found it frustrating how many members would have payroll deduction through the institution but keep their primary financial relationship elsewhere. They simply didn’t consider the credit union for most loans, investments, and other services. The same issue remains widespread today, he says. “As long as I’ve been in financial services, th...

CUNA’s 2020 advocacy agenda will tell legislators how credit unions improve financial  wellness by supporting financial health, promoting financial security, and enhancing financial inclusion, says Ryan Donovan, CUNA’s chief advocacy officer.  “The CUNA/league system will continue working to revolutionize the operating environment for credit unions by removing barriers, expanding powers, enhancing...

Every industry is driven by certain leaders who provide direction in both thought and strategy. In the credit union system, one of those leaders is CO-OP Financial Services . The Rancho Cucamonga, Calif.-based technology provider offers credit unions payment solutions and thought leadership that continues to transform the industry.  In this interview, CO-OP President/CEO Todd Clark describes how C...

Brandon Riechers believes in developing young professionals and getting them involved in all areas of the credit union movement.  “I’ve always been a champion of young professionals,” says Riechers, president/CEO of $2.6 billion asset Royal Credit Union in Eau Claire, Wis. “At Royal, we do what we can to help in the development of future leaders on many fronts.”  Earlier this year, Royal launched...

Kim Ngo and her family truly embody the American Dream. Her father fled Vietnam in 1986 to escape persecution. And when Ngo joined him in Marin County, Calif., seven years later, she was a 10-year-old who understood no English and little about American culture. Today, she’s a branch manager at $7.1 billion asset Patelco Credit Union in Pleasanton, Calif., and a 2019 Credit Union Rock Star , sponso...

Efficiency is a hallmark of a well-run organization. For credit unions, compliance is one of the biggest obstacles to efficient operations. As a loan subservicer, Midwest Loan Services offers credit unions a path to improved efficiency, not just with compliance but through the entire loan servicing process, says Peter Sorce, president/CEO of Midwest Loan Services. In this episode of the CUNA News...

This week's episode features highlights from the 25th annual CUNA Lending Council Conference in New Orleans.  Roundtable participants discuss lending’s past, its future, and both the challenges and positive outcomes taking place today.  Among the guests are: Bill Vogeney, chief revenue officer, Ent Credit Union, Colorado Springs, Colo., and recipient of the CUNA Lending Council’s 2019 Phil Gr...

When Marc Schaefer steps down as CEO of Truliant Federal Credit Union at the end of 2019, he doesn’t want the focus to be on what he did as an individual.  Instead, he wants people to remember what the $2.6 billion asset credit union in Winston-Salem, N.C., did for its members.  “It’s about the member,” Schaefer tells the CUNA News Podcast. “We improved a ton of peoples’ lives over the 25 years I...

The payments landscape is constantly changing and credit unions must adapt with new technology so they can continue meeting members’ needs and expectations. “Credit unions need their payments products to be top of wallet and everybody wants to have  a great user experience for members,” Libby Calderone, president/COO of LSC , says in this episode of the CUNA News Podcast. “Our challenge is to work...

The foray into solar lending at UMassFive College Federal Credit Union began with a desire to create a new loan product and simple Google search on “solar energy.” “If you want to grow at a pace that's a little better than average, you need to look for new opportunities,” says Rich Kump, CEO of the $500 million asset credit union in Hadley, Mass. “I had been keeping my eye on solar for about...

For Steve Timmons, tackling a fraud incident involves not only resolving the issue for the member, but also determining how the incident occurred and how to prevent it from happening again. “We analyze each situation to see if we could have done something differently or put something in place that can assist us in getting the money back quickly,” says Timmons, fraud coordinator at $778 million ass...

The co-located 2019 CUNA Technology Council and Operations & Member Experience Council Conferences in Chicago featured many highlights, including a preconference Security Summit and high-level sessions for technology and operations leaders. Nearly 100 technology leaders took part in the 6th annual Security Summit, where much of the discussion centered on internal controls, access management, e...

Cindy Olson has seen the best of times and worst of times a company can experience. As a top executive at a Fortune 7 firm during the late ‘90s, she pioneered the use of technology in finding, developing, and keeping top talent. But within a few years, she feared going to prison in the wake of a high-profile scandal that left the organization bankrupt, executives jailed, and thousands of employees...

Your culture is the pulse of everything your organization does. It represents the way employees work to produce a product or service. “Culture eats strategy every time—for breakfast, lunch, and dinner—and  culture is the pulse of what the organization is doing,” says Dr. Troy Hall , chief strategy officer for $1.8 billion asset South Carolina Federal Credit Union in North Charleston. “Culture is t...

Ray Lancaster began his career as a credit union volunteer. But looking back it seems inevitable Lancaster would become a credit union CEO one day. Lancaster embodies the credit union spirit. As CEO of $167 million asset Pyramid Federal Credit Union in Tucson, Ariz., he’s always looking for a way to help others. One of his greatest inspirations was the National Credit Union Foundation’s Developmen...

Andrea Parrish jokes that her drug of choice of public speaking. She loves an audience. As digital brand manager at $3 billion STCU in Spokane, Wash., her audience is a membership of 195,000. Her success in connecting with that audience—and beyond—earned her 2019 Credit Union Rock Star status from Credit Union Magazine . Parrish loves to share her knowledge. CUNA Director of Blended Learning Ariel...

The African-American Credit Union Coalition (AACUC) wants to be considered a preferred diversity, equity, and inclusion partner for the credit union system, says Adrian Johnson, chief financial officer at $1.2 billion asset MECU Credit Union in Baltimore and AACUC chairman. In this episode of the CUNA News Podcast, recorded during AACUC’s 21st annual conference in Charlotte, N.C., Johnson discusse...