Spotlight on Accounting - McKayla Merrell

Posted On: October 21, 2016
Category: October 2016

giphy We would like to introduce you to our newest employee in our Outsourced Accounting department (are you surprised?). McKayla Merrell, Accountant I, recently graduated with a degree in Accounting and we are so excited to have her on our team. For those of you keeping track, our Outsourced Accounting department now comprises nearly half of our entire staff here at CU Service Network. Since President/CEO Doug Burke launched this product nearly three years ago, we have seen incredible demand and success. Let's learn more about McKayla: mykayla "I couldn't be more excited to get started in this new journey of life. Ever since I was a little girl, I have had a passion for numbers and puzzles. There isn't a more fitting job for me than spending all day looking at numbers and balancing spreadsheets. As I am new to the credit union industry, I am eager to learn what it is all about. It excites me to know that credit unions are not for profit but for service, as I am a strong believer in serving others. The credit union industry keeps proving to be the perfect place for me. Outside of a life full of numbers, there are many other things that hold my interest. I love being outside, whether it is hiking, camping, biking, or just sitting out in the nice weather. In college, I was on the competitive cheerleading team and competed in many National competitions. I love being active and staying busy. Traveling is one of those things that I couldn't be more excited to do. I have been to over 10 countries and plan on going to many more. My life has been so crazy with new challenges, as I have transitioned from college to the real world, moved here from Oklahoma, and started to plan my wedding. There is so much in this life to be excited about. I strongly believe that whatever you believe about yourself and the world around you, becomes your reality. So why not make your world the best that it can be. I hope to bring this mind set into everything I do and face the challenges with a “can do� attitude." Welcome, McKayla!

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Look for Our Client Satisfaction Survey

Posted On: October 21, 2016
Category: October 2016

Charlie Brown - CU Collaborative Community Last week we sent many of you an email asking for your participation in our client satisfaction survey. Did you receive the email? If not, be sure to check your junk folder; sometimes credit unions' email servers throws our email in there (gasp!). You should see an email from us with a link to a Survey Monkey webpage. Why is it important to take our survey? 1. The only way we can get better is if we know what we are doing wrong and right for you 2.It takes an average of two minutes to complete 3. We are owned by credit unions (many of you!), so it is critical we get your input 4. You can win one of four $25 gift cards if you participate Are those not four perfect reasons to take our survey? Let us know if you don't see it in your inbox. Thanks!

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Should Your Credit Union Use Instagram?

Posted On: October 21, 2016
Category: October 2016
instagram Did you know there are currently over 8,000 Instagram posts with the hashtag "Credit Unions?" Experts used to argue that financial institutions had no business on Instagram, because...what photos could there possibly be to share from an FI? This point is not so valid anymore, as Instagram's popularity continues to outshine Twitter and Facebook, and many credit unions are turning to Instagram with great success to promote themselves. I think the key is that credit unions aren't just posting photos for the day-to-day happenings at a CU (because really, how interesting is a teller line or lobby?), they are posting images of tips, advice, quotes, community events, etc. This is where you can reach the key audience that Instagram represents - the younger end of Millennials and Gen Z. 2015-08-19_social-media-update_09 These are the ones that are entering college, looking for their first car loan, credit card. The pivotal ones you want to draw to your CU before they get snatched up by another FI. What's more, you can utilize Instagram in a way that reflects the local, community-oriented nature that is so intrinsic to credit unions. It's almost like the platform was built for credit unions! Post images of your members, events, local happenings, regional pride, local school and college news, fundraising efforts. Use the platform to show how you are different from banks. Let's take a look at a few credit unions that are excelling in their Instagram presence. Numerica CU, Spokane Valley, Washington https://www.instagram.com/numericacu/ numerica numerica-2   Florida Central CU, Tampa, Florida https://www.instagram.com/floridacentralcu/ florida   STCU, Washington/Idaho border https://www.instagram.com/mystcu/ stcu   UFCU, Austin, TX https://www.instagram.com/myufcu/ ufcu   CU Insight (Not a credit union, but has an awesome Instagram presence) https://www.instagram.com/cuinsight/ cuinsight Pretty cool, huh? Below are some articles about getting started and tips for success. Let us know if you currently use Instagram, and if so, how it is working out for you. https://www.cues.org/article/view/id/Inside-Marketing-Share-Your-Credit-Union-on-Instagram http://www.mcul.org/industry-and-program-resources/publications-and-multimedia/news?article_id=24863 http://blog.socialstairway.com/instagram-tips-that-work/ http://mediakix.com/2016/02/marketing-on-instagram-financial-services/#gs.c4JWODA    ]]>
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A Need for Outsourced Payroll Processing?

Posted On: October 21, 2016
Category: October 2016

giphy CU Service Network is going into the marketplace and asking credit unions if there is a need for Outsourced Payroll Processing. Many of our CUs have recently asked us to consider offering it as a service. As you may be aware, we have aggressively pursued research and innovation efforts in 2016, working with Edge Consultancy and Kirk Kordeleski in the Spring, and hosting the Innovation Design Event in the Summer. Outsourced Payroll Processing for credit unions would be a new service we could offer as part of our Back Office Services line. So, we want to know what you think. Could your credit union use a service like Outsourced Payroll Processing? Thank you for your input! 

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Member Insurance Webinar Today @Noon MDT!

Posted On: October 21, 2016
Category: October 2016

insuritas Join us for a webinar today at noon MDT on digital member insurance and recurring fee income, hosted by Insuritas. Insuritas is highly rated in the credit union field  they have won the NAFCU Innovation Award, the credit union industrys most recognized award competition for groundbreaking solutions, for the past two years in a row! Webinar Details: >>Webinar Date: October 25th >>Time: 12:00 pm MDT >>Title: SmartCART Technology: How this Digital Insurance Platform is Affecting US Financial Institutions >>Summary: SmartCART the most revolutionary way to purchase insurance today! It is the world's only insurance technology platform that allows consumers to shop, compare and buy a rapidly growing suite of insurance products in a one-stop shopping, check-out, binding, issuing and payment experience. The effect on US Banks and Credit Unions is dramatically changing how FIs make the insurance purchase process so much easier for their customers and members while realize recurring income. It's a win-win for all involved! register-now 

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When People Can Share Verifiable Attributes, Everything Changes

Posted On: October 24, 2016
Category: October 2016
thumb President/CEO Doug Burke wanted to share this article with you about SSI (single sovereign identity) and the importance of members having verifiable attributes online. As you can imagine, the toxic mix of cyber fraud and members doing more banking online is creating a need for a better way for people to identify themselves online - that they "really are who they say they are." Take a look at this article by Phil Windley, Enterprise Architect at BYU "In the physical world, people carry credentials to prove to others that they have certain attributes or hold certain privileges. Online, this is not possible. For example, a driver's license contains attributes like name, address, and date of birth that have been validated by the Driver's License Division. The drivers license is widely viewed as trustworthy. Consequently, people use driver's licenses for purposes other than driving. For example, a school or pharmacy can easily verify that a license belongs to the person presenting it, and confirm the validity of the license without ever contacting the Driver's License Division directly. In other words, in the physical world, people hold and are the conveyors of their own trustworthy attributes (called claims? by identity experts). These attributes can be used when needed and without prior agreement. Online, such interactions are only possible through pre-arranged integrations between the APIs of specific computer systems. Identity systems in use today include federation for business-to-business credential sharing, and social login for consumer authentication1. Neither of these offers a foundation upon which third-party claim issuers can easily build services that allow for the kind of ad hoc attribute sharing that happens in the physical world. Consequently, entities who want to rely on attributes from many parties have to perform integrations with all of them. This is slow, complex, and costly, so it typically happens only for high-value applications. Decentralized identity systems, like Sovrin, have built-in support for third-party claims that function in the same way physical credentials work: they're presented directly by the identity owner. The identity owner can use a claim from one party to disclose attributes to another party without those parties even having a relationship, much less a technical integration2. Claims can be used in ad hoc situations, just as they can in the physical world, allowing individuals to function as integration points. When you can instantly trust what someone says about themselves, workflows and integrations are dramatically simplified. There are other benefits to owner-provided attribute sharing. First, when owners share attributes, the receiver automatically gains consent to use the attributes for the requested purpose. This significantly reduces liability. Second, when the owner is part of the process, they can check the accuracy of the attributes as they're being shared, resulting in better data. Owner-provided attributes are a powerful driver that will push decentralized identity systems well beyond the current uses of federation and social login. Businesses can reduce or even eliminate API integrations and manual verification processes, and instead trust what's presented to them by customers, because the claims can be verified. Customers become the source of what's true about them. Businesses will find great value in this, driving adoption by individuals as customers are brought into decentralized identity systems through day-to-day business activities."
  1. See Self-Sovereign Identity and the Legitimacy of Permissioned Ledgers for more on the difference between self-sovereign identity systems and social login.
  2. See How Sovrin Works for details on how claims can be received, stored, and shared as verifiable disclosures.
Read the original article on windley.com here 
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