Jump to main content

    April 2020

    A Note From Chris

    The safety of our employees and our members, and the continuity of our operations remain the top priority for Corporate Central. As your trusted partner, we are committed to supporting our members through these uncertain times. As we all continue to navigate through the impact of COVID-19, we want you to know that we are thinking of you and hoping that you are all healthy and safe. We are learning of all the wonderful and selfless things you are doing to help your members and communities, and we are very proud to be part of this great movement. We are thinking about your employees and the challenges we are all facing with branch closures, remote work, and social distancing. And as always, we are thinking about how we can provide the most competitive services and best returns possible to help your staff and members get through the challenges today and tomorrow. Please refer to our pandemic preparedness webpage for more information about how Corporate Central is handling the crisis and for other helpful resources. If you have any questions or if there is anything else you may need from Corporate Central, please do not hesitate to contact us. We are here to serve you. Stay healthy.

    Chris's Signature

    Chris Felton

    What’s Trending?

    Work at home disruption creates a once-in-a-lifetime opportunity.

    The coronavirus outbreak is resulting in a massive exodus from traditional offices and branches to a work-at-home reality. While this disruption creates significant stress, it also creates personal and professional development opportunities to learn, write, teach, and connect with others.

    Read the Article

    Working Remote

    Corporate Central staff introduce new “co-workers” while working from home.

    Working from home can present its challenges, but Corporate Central staff members are embracing it!

    Corporate Central employees with their "new coworkers" when working remote

    Corporate Central employees with their "new coworkers" when working remote

    Technology Solutions

    Emergifi is enabling remote work opportunities for credit unions.

    Emergifi developed an essential toolkit to help credit unions operate in a remote work environment:

    • Cloud business applications, including a cloud-based phone system, like RingCentral
    • Collaboration tools, like Microsoft Office 365, which includes SharePoint, OneDrive, and Exchange/Outlook
    • Instant messaging platform, such as Microsoft Teams or Slack
    • Project management systems, similar to Trello or Basecamp
    • Device management for patching and software updates, remote monitoring and management, backup and disaster recovery solutions
    • Security and compliance measures, especially for credit unions
    • Virtual private network (VPN) access, for secure access to financial data
    • Up-to-date operating systems, like Windows 10
    • Password management system
    • Multi-factor authentication tools, like FIDO2, PIN, or face ID 

    If you need assistance moving to the cloud, Emergifi offers implementation and migration services. Please call us at (844) 448-2876 to schedule a free consultation.

    Employee Benefit Resources

    Coronavirus: Preparing your business for impact.

    Due to the sustained global impacts of COVID-19, our CUSO’s experts continue to address key considerations for employers:

    • Property or business interruption
    • Employee benefits and rights
    • Employee health and welfare

    Read the Full Article

    By staying informed on the latest developments, developing or activating contingency plans, educating employees to prevent the spread and infection of the disease, and using available insurance, credit unions can reduce the impact of this outbreak. Additional information and resources about business interruption, employer obligations, liability, and risk mitigation can be found on Lockton's Coronavirus Advisory Practice page.

    Employee wellness is at the heart of the I-Care benefits program, while finding ways to collaboratively work with credit unions to control rising healthcare cost and improve efficiency. For more information on how I-Care can help your credit union, please call (414) 433-0174 or visit our website.

    Financial Services Consulting

    It’s never too late to plan.

    For most, risk has always been measured by the negative effects of a 300-basis point spike in interest rates. Recent events have provided a clear illustration that risk can take many forms. For many, a sharp drop in rates like we have just experienced, can deliver serious pain to their bottom line.

    Never has the benefit of creating a clear, calculated plan been more obvious than in a market like this. Having a clear understanding of our forecast financial performance in many rate scenarios, including the current environment, is helping credit unions focus on enhancing their risk position. Those who have carefully measured financial performance and acted to perform in even the most unlikely scenario can rest assured that they are on track for better times.

    It is not too late to refocus our efforts. Cash balances are likely building again, as depositors feel fear again, and flock to the safety we have always provided them. If you are on the fence, seriously consider taking the time to develop a benchmark. Taking the time now can avoid the uncertainty of not knowing what to do next.

    Equally important is to avoid the big mistake. Trying to catch yesterday’s rate today will force us to investigate areas we would not have considered before. Taking on new risks, longer maturity, new credit risk, new structures, or other choices can be like trying to catch a falling dagger. We will be tempted to look at higher risks using a yield target rather than a balance sheet target.

    Now, more than ever, we need to focus on our mission. We are not here to outperform the investment portfolios of other credit unions. We are here to help our members get what they need. Providing a balance sheet that enables us to focus on our members by producing predictable returns in many rate environments and providing high liquidity comes first. We are here to help with the process, now and in the future.

    Contact QuantyPhi

    Did You Know?

    Our partner, Ncontracts, provides pandemic and business continuity resources for credit unions.

    During this pandemic, you can continue to strengthen your business continuity plan with these business resiliency and operational risk management resources from Ncontracts.

    View Ncontracts' Preparedness Resources

    Credit Unions Connect

    Stories that exemplify the movement

    The motto of people helping people has never rang more true.

    Credit unions who are providing resources to those in need during the coronavirus pandemic

    We are in awe of the creative ways, both small and large, our members have stepped up to help their members and the communities they serve. From "skip a payment" offers, low-rate personal loans, virtual story times, and suggestions to keep the kids (and adults) busy, to supporting hard-hit, local businesses, your commitment to your members is an inspiration. Social media channels are flooded with examples. We have highlighted a few stories above. Keep up the great work credit unions!

    Read More Credit Union Stories

    What’s New and Who’s Who

    Kaylee Stefanski joins Corporate Central team as Staff Accountant/Analyst.

    Kaylee Stefanski

    We are very excited to welcome Kaylee to our team. Kaylee provides accurate and proficient review, analysis, and administration of activities related to Corporate Central’s financial data and accounting systems. She is also responsible for performing timely and accurate reconciliation of accounts, payment processing, data entry, and accounts monitoring functions, while providing backup support within the department and serving as a resource for member services. Kaylee graduated from UW-Whitewater with a degree in Business. She has ten years of experience in accounting, with most of her time spent in accounts receivable in the manufacturing sector. Her most recent experience was in a supply chain analytical role. Outside of accounting, Kaylee loves to travel, listen to country music, go to concerts, and watch Disney movies. Additionally, she has a dog named Riley, who she describes as, "the cutest thing ever." Welcome to the team, Kaylee!

    Sam Goeb joins Emergifi team as Business Development Executive.

    Sam Goeb

    Emergifi is proud to announce and welcome Sam Goeb as a Business Development Executive. Sam works to assess the needs of credit unions and assists leadership with marketing strategies, business plans, and sales objectives. Sam brings over 15 years of business development experience in diverse industries ranging from healthcare to technology. He has launched over ten new products and services over the course of his career, and most recently, acted as Director of Market Development for a custom software development firm. Having worked in both startup and enterprise environments, Sam recognizes the hurdles that organizations face during periods of growth and the critical impact that appropriate technology solutions provide in ensuring seamless collaboration, security, and workflow efficiencies. Sam holds a bachelor’s degree from the University of Wisconsin-Parkside in Kenosha, WI, a Certificate in Conflict Analysis and Resolution, and is currently pursuing his master’s degree from Marquette University, with an emphasis on Business and Managerial Analytics. Sam and his wife live in Greenfield, WI with their three children. They spend their time staying active at the gym, hiking in the woods, and volunteering at their church. We are happy to have you on our team, Sam!

    Learn More About Our Team

    Wild Adventures with Leo

    Leo tagged along with three Corporate Central staff members to the Women’s Leadership Summit.

    Leo at The League's Women's Leadership Summit

    Mark Volz, Orianna Valentine, and Laurie Dellevar attended The Wisconsin Credit Union League’s Women’s Leadership Summit on March 12 in Fond du Lac, WI. Leo learned that statistically, credit unions have a much greater percentage of female CEOs both nationally and worldwide. Women are often balancing home and work life, and that makes it even more important to create a network of other women leaders to support and help one another.

Upcoming Events

Monday Market Monitor

1/1/0001 12:00 AM Central Time (CST) | Conference Call

The Monday Market Monitor is a weekly conference call geared toward credit union investment managers. It will provide up-to-date economic highlights, yield curve analysis, investment product recommendations, and a forecast for the upcoming week.

Dare to be Boring! Using the Treasury Curve to Your Advantage

3/17/2021 2:00 PM - 3/17/2021 2:30 PM Central Time (CST) | Webinar

From a total return standpoint, there may be a sweet spot on the treasury curve which offers low premiums and no prepayment risks. Join QuantyPhi and find out where we are finding the value.

An Exclusive and Collaborative Employee Benefits Solution for Credit Unions

3/30/2021 1:30 PM - 3/30/2021 2:00 PM Central Time (CST) | Webinar

InterLutions was formed to provide credit unions with enhanced employee benefits at lower costs. Join us as we dive into into innovative solutions that leverage data, technology, and collaboration to drive down credit union health care costs.


4/7/2021 9:00 AM - 4/8/2021 11:00 AM Central Time (CST) | Virtual

Join credit unions across the Midwest on Wednesday, April 7 and Thursday, April 8 for Ctrl+Alt+Innovate. This event is the shortcut you need to advance with fintechs and power financial growth.

Our Family of CUSOs

Emergifi Logo Interlutions CUSO Quantify CUSO