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Hello and welcome to our July edition of The Juicy Stuff: An Interview Series with Our Board Members. Each month throughout 2019, I will be interviewing one of our board members and publishing it to our blog, right here. The interview is a mix of strategic questions as well as surprise questions to keep things entertaining.
This month, I interviewed Mr. Scott Ferndelli, CEO of $141M Arapahoe Credit Union in Littleton, CO. Scott has been in the credit union movement for over 25 years and has been on our board since 2017.
By Nikki Kuepper, Accounting Supervisor
Nowadays, everyone under the sun is pushing to automate their back-office processes. Before rushing headlong into the world of automation, stop and evaluate whether it is the most efficient means for managing your processes, especially when it comes to accounting. But automation is always superior to manual processing, right? Not always. Let's dive into examples showing how accounting automation can actually slow your department down considerably, and ways you can prevent your automation from causing issues.
We are excited to share our newest infographic with our blog readership, which illustrates the findings from a comprehensive survey we conducted on data analytics. As you will see below, the survey results reveal trends, timelines and priorities unique to the credit union industry, one where this looming endeavor is top-of-mind.
By Doug Burke, President/CEO of CU Service Network
I attended the AXFI credit union data analytics conference this month and continue to be amazed at how fast the financial world is moving these days. It’s moving so fast, at times, it’s down right scary, but at the same time there is opportunity. Here are a few highlights from some of the speakers and sessions:
After months of preparation, writing, and research, our new compliance whitepaper is now available! Our most in-depth whitepaper to date, "6 Long-standing Compliance Issues You May Want to Revisit" is a must read for anyone who touches compliance at his/her credit union. The whitepaper addresses six compliance issues credit unions may not have given thought to in a while - and discusses why you should pay attention to them today, including:
We are excited to introduce our newest employee and member of our compliance team, Jamin Carlisle. Jamin is now part of our East Coast compliance office in Woodbridge, VA, in the D.C. area. Our outsourced compliance service continues to grow, and with credit union clients from coast to coast, we needed an additional compliance officer!
Our client U-1st Community FCU of Carlsbad, NM, is now part of the CO-OP Shared Branching Network. We are thrilled not only to welcome a new shared branching client, but especially one who brings shared branching to an unserved region. Their branch in Carlsbad, NM is quite a welcome addition to the network, as U-1st now offers the only shared branch within a 160-mile radius! Furthermore, their branch in Carlsbad, NM, will serve a quickly-growing population and industry - one that is experiencing the challenges of an oil boom.
We are excited to announce our new board members with our readership today. These two individuals were accepted at our governance meeting on April 4th, 2019, and the announcement was formally made at our Annual Meeting on May 15th.
For those of you who were unable to make it to our 2019 Symposium and Annual Meeting this year, we've compiled a summary and helpful bullet points on the infomation presented at the event. Below, you can read a snapshot of the presentations from our three guest speakers, Frank Diekmann of CUToday, John Ainsworth of CULedger, and Joh Best of Best Innovation Group. Sticking with the theme of our Symposium this year, we went around the room and interviewed attendees on their thoughts on "THE FUTURE OF CREDIT UNIONS." You can read their responses at the bottom of this article.