Gulf Coast FCU Rises Above to Help Their Employees During a Pandemic

Posted On: May 21, 2020

Gulf coast fcuWe’d like to feature a credit union that is going above and beyond in a time of crisis. In April, we featured Wyoming-based Reliant FCU and how they are doing everything in their power to keep their locations available to guest members. This month, I was tipped off that Alabama-based Gulf Coast FCU is offering their employees hazard pay, and determined to have zero staff layoffs and salary cuts. I was curious to learn more about this unique situation, so I reached out to David LeNoir, President/CEO of the $41M credit union who is an outsourced accounting client of ours. He kindly took an hour of his time, waist deep in the middle of the pandemic (interview took place April 16th, 2020) to chat with me. Let’s dive in.

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Social Distancing: Branch Manager Style

Posted On: May 21, 2020

6 feetCheck out this article written by a branch manager at Denver Community CU, a $346M credit union with five branches around the Denver, CO metro area. We can heartily say the author's thoughts resonate deeply; the concept of "six-feet" will forever be imprinted on our psyche. Branch managers, tellers and COOs, our hearts go out to you during these times! Have a read for a well-needed chuckle.

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COVID-19 Compliance Q&A: May 22, 2020 Update

Posted On: May 21, 2020

COVID-19 credit union compliance FAQ MayDisclaimer – New information is being provided on a daily basis regarding the pandemic, the economic stimulus money, expectations of regulatory agencies, etc. The following questions and answers are based on the information available to us at this time. As more information becomes available, these answers may change.

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RSVP for our Webinar: Balancing Crisis Management with Moving Forward Strategically

Posted On: April 23, 2020

strategy webinarCredit union professionals are currently faced with many challenges due to the impact of COVID-19, combined with a 0% rate environment. Many leaders are overwhelmed with the decisions that need to be made, some unparalleled, depending on how long this combination of events continue. They are recognizing that some of the financial relief for members they intended to be short-term may be needed for a lot longer than anticipated. So how does leadership, in all of this uncertainty, strategically navigate their business forward?

As outsourced accounting providers and CFO-level consultants, we are excited to be able to host a webinar on this pressing topic. Join us and ALM & strategy planner C.Myers for a critical and timely webinar which will address these key questions.

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How Reliant FCU Embraces the Credit Union Spirit in a Time of Crisis

Posted On: April 23, 2020

reliant fcuThis month, we’d like to share how one shared branching credit union is going above and beyond in the midst of this paralyzing pandemic. Over the past month, we’ve been saddened to see not only the closing of branches, but the closing of shared branches specifically to guest members. The impact this has had on guest members has been a challenge to experience. With stay-at-home orders and restrictions on travel, some members truly have no way to access their money if their local shared branch restricts guest member access. The cooperative spirit of credit unions is strained like never before in their near 100-year history.

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Survey Recap: How is the Pandemic Affecting Your Credit Union's Strategy?

Posted On: April 23, 2020

Survey recapOver the course of April, we conducted a survey on how the COVID-19 pandemic is affecting credit unions’ 12 month strategies. The goal was to gather critical trends, insights and knowledge to report back to the community and we are pleased to share a recap of the survey results with you today, including participant demographics and key takeaways.

The full results of all 19 questions will be sent out next Friday, May 1st – so please keep an eye out from our CEO Doug Burke. We appreciate the time our participants tool to share their experiences. Please review the recap below.

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COVID-19 Compliance Q&A: April 17, 2020 Update

Posted On: April 17, 2020

COVID-19 credit union compliance FAQDisclaimer – New information is being provided on a daily basis regarding the pandemic, the economic stimulus money, expectations of regulatory agencies, etc.  The following questions and answers are based on the information available to us at this time.  As more information becomes available, these answers may change.

Our focus this month, as it is for everyone, is how the coronavirus (COVID-19) is affecting credit unions. The financial impact COVID-19 will have on the lives of Americans has yet to be determined. However, credit unions are already stepping forward to help soften the blow for their members. And they’re looking to us for help balancing compliance with service. Our outsourced compliance services team here at CU Service Network has compiled a list of frequently asked compliance questions, below.

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Feeling Helpless as a Marketer Right Now? What You Can Do to Assist Your Credit Union

Posted On: March 26, 2020

marketingBy Alicia Disantis, Marketing Manager
At this moment, you might feel really uneasy being a marketer. While most credit unions’ operational departments are firing on all cylinders and focusing on ways to maintain “business as usual” (or as close to it as possible), marketing seems, well, redundant? Unneeded? Like the artsy kid at the science fair? I feel your pain, and I have gathered some ideas, inspiration and tips on what you can do right now to connect with your membership, keep your brain occupied while projects are put on hold, and assist your credit union in this challenging time.

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COVID-19 Compliance Q&A

Posted On: March 25, 2020

COVID-19 credit union compliance FAQOur focus this month, as it is for everyone, is how the coronavirus (COVID-19) is affecting credit unions. The financial impact COVID-19 will have on the lives of Americans has yet to be determined. However, credit unions are already stepping forward to help soften the blow for their members. And they’re looking to us for help balancing compliance with service. Our outsourced compliance services team here at CU Service Network has compiled a list of frequently asked compliance questions, below.

Normally reserved for our compliance clients, we are making this information available to all credit unions in hopes it helps you navigate this complex and confusing environment.

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We are Crushing on Data Analytics (and You Should Be Too)

Posted On: February 20, 2020

data analytics crushFebruary is the month of love and we are crushing hard on data analytics. I mean, full blown photo taped-inside-the-locker, daydreamy, writing-combined-names-in-a-heart crushing. And we wouldn’t be surprised if you are too. Data analytics is the hottest topic of the year for credit unions. Some of the questions we are hearing in the industry are: How can a data analytics program be utilized without breaking the budget? Where do we start? How do I hire someone to do this? What do I actually do with the data once I have all of it? How do I show ROI? How do I know if she likes me…wait, that was eighth grade.

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First Person Report: How Are CUs Coping with the Challenges of Skilled Staffed Shortages & Cost of Living?

Posted On: February 20, 2020

staff shortage

Last month, we reported that credit unions are being affected by the socioeconomic challenges of lack of skilled staff and cost of living in their communities. This month, we asked select credit unions across the country: How are you affected by these staffing challenges and what can be done to combat it? Below are responses from five credit unions in vastly different regions: Denver Metro, CO; Tucson, AZ, Pocatello, ID; Silicon Valley, CA; and Washington, D.C. who have shared their pain points and what they are doing to overcome these challenges.

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CULedger Reveals New Name for MyCUID, Rebranded as MemberPass™

Posted On: February 20, 2020

MemberpassIn early February, self-sovereign identity FinTech CULedger announced that is has rebranded its digital identity solution, MyCUID, to MemberPass. Some of our readers may be aware that we are an investor of CULedger (check out our interview with CULedger CEO here). “CU Service Network feels strongly about authentication which is why we previously invested in CULedger,” says Doug Burke, President/CEO of CU Service Network. “We are excited about their progress and wanted to share some recent news and their changes. We believe their new MemberPass name should be more universally accepted by credit union members.”

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