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    April 2021

    A Note from Chris

    It’s hard to believe we are over a year into this pandemic – a whole year! Please know Corporate Central and our CUSOs continue to operate smoothly and without interruption. We have the infrastructure and processes in place to help you stay connected and we stand ready to serve you. I am glad to report that the recent Microsoft Exchange Server Vulnerabilities did not impact Corporate Central, thanks to Emergifi's email and securities service. Let us know how we can help your credit union.

    While we are eager to see you all again at in-person events, we do have a lot of other exciting things coming up as we head into the second quarter.

    We are pleased to be a sponsor of Ctrl+Alt+Innovate scheduled for April 7 and April 8. This collaborative virtual event between eight Midwest Credit leagues and associations will provide an opportunity to hear from leading innovators to help you position your credit union for the future.

    We are also thrilled to be a sponsor of Filene’s Center of Excellence on Credit Union Innovation and Incubation that officially launched in early March. Ultimately, the research aims to help credit unions build systems, cultures, and processes to remain adaptive to changing needs of members and communities long into the future. A goal we certainly support!

    Lastly, we will be live streaming Corporate Central’s 40th Annual Meeting on Thursday, May 6 at 9:30 a.m. CT. Instructions for viewing the live stream will be emailed to all members prior to the meeting. Although live streaming does not provide for our preferred interaction, we do encourage you to tune in and hear about everything your corporate is doing to help your credit union. Please also remember to register your delegate for the annual meeting. Delegate registration forms were emailed out to all member President/CEOs. If you need a new form, please contact Nancy Morgan. Thank you for your commitment and support.

    Sincerely,

    Chris Felton's signature

    Chris Felton
    President/CEO

    What’s Trending?

    Financial well-being isn’t a thing – it’s THE thing. 

    Financial well-being for all isn’t A thing that credit unions do – it’s THE thing credit unions do. It’s in our DNA, it’s the charge from Congress to credit unions to “promote thrift and create a source of credit for productive and provident purposes.”

    Read the Article

    Technology Solutions

    Is your credit union still running on-premises Microsoft Exchange servers?

    Recent attacks from HAFNIUM, a threat actor believed to be a nation-state, have exposed large vulnerabilities to these systems. If your credit union is running Microsoft Exchange servers, it is strongly recommended that you immediately patch them and search your networks for indicators of an attack. Since its inception, Emergifi has championed cloud solutions and the security they provide. If you are concerned about your credit union’s IT security, please contact us at sales@emergifi.com. We can offer guidance on steps to take now. We also provide cloud-based solutions that will help protect your organization from future malicious acts. For more information, read the CISA alert about mitigating the threat to Microsoft Exchange server vulnerabilities.

    Employee Benefit and Insurance Resources

    Employee Wellness: 10 Challenges to Engage Your Workforce

    Now that the COVID-19 vaccine has arrived, people are feeling a little more confident that we are inching towards some increased level of normalcy. If there is one thing that the pandemic has taught us, it is that our health is indeed everything. To that end, we are witnessing a growing desire, if not need, for individuals to focus on their overall wellness. That comes in many forms including improving physical health, mental stability, and financial growth.

    To stimulate the need to improve one’s overall fitness, employee wellness programs are now being used by credit unions to recruit the best talent. More credit unions are investing in wellness initiatives to encourage employees to stay healthy and succeed and flourish in their careers and personal lives. It makes sense, considering 40 percent of employees express they would be more loyal to their employer if they were provided valuable wellness benefit programs.

    Employee health and loyalty are valuable attributes for credit unions and, fortunately, these assets can be further stimulated and implemented through readily available wellness initiatives. How should employers design wellness programs to navigate these options? Here are some employee wellness program ideas to get your credit union started.

    1. Walking Challenges: Walking challenges are popular because they are easily structured and most anyone can participate. Walking relieves stress, can improve sleep habits, and leads to greater general health and wellbeing. Walking challenges are a great first wellness initiative to kick off a health and wellness program.
    2. Habit-Building Challenges: Drinking enough water, eating wholesome foods, using the stairs, and getting more sleep are fundamental to a healthy lifestyle and these habits are not difficult to adopt. Plus, walking challenges and encouraging healthy habits are low-cost initiatives to implement.
    3. Nutrition Challenges: Speaking of good healthy habits, proper eating is an essential part of overall wellness. Credit unions can organize catered healthy lunch groups with periodic free meals or provide healthy snacks or, alternatively, a health coach can present webinars on the value of nutrition. There are also digital tracking apps that may prove beneficial.
    4. Mindfulness Challenges: Good mental health is also a fundamental key to success in one’s career. Managing stress and burnout through wellness services, such as meditation seminars, can be beneficial for employees.
    5. Financial Wellness Challenges: Stress can be brought on by financial worry and employees who struggle with their financial well-being can negatively impact their productivity and health. Financial well-being programs are growing in popularity and more credit unions are extending educational webinars and other member advisory services to their own employees who can earn points for attending a financial planning session.

    Through InterLutions’ I-Care employee benefits program, we recommend, support, and encourage all credit unions to consider the well-being of their greatest assets, their employees. To learn more about I-Care, wellness programs, and other topics for employee challenges like new hire engagement, charity and volunteer involvement, sleep challenges, and environmental sustainability, please visit InterLutionsCUSO.com and be sure to read the full article, Employee Wellness: 10 Challenges to Engage Your Workforce.

    Financial Services Consulting

    For the bond markets, March came in like a lion.

    Rates in the intermediate and long end pushed higher driven by fear that supply chain disruptions and post-vaccine consumer demand surges will bring inflation to life. The Federal Open Market Committee (FOMC) met mid-month and announced plans to hold course. They will not adjust their QE operation to address the interest rate increases in the intermediate and long end of the curve. They observed economic activity and employment have turned up but added that sectors more adversely affected by the pandemic remain weak. The Fed sees the unemployment rate improving to 3.5% by end of 2023 and expects no rate hikes until 2023.

    As always, it is clear that no one can tell us where rates will go – not even Alexa or Siri. What we can do is examine history. What did rates do last time the world was on edge of recovering from a pandemic that effectively shut down the global economy for a year? What were the effects last time a central bank unwound a quantitative easing that had added $4 trillion to its balance sheet? What happened when the rest of the world’s central banks followed?

    Collectively at QuantyPhi, we have been doing this for a long time. It is difficult to come up with a time when such a strong case could be made for rates to go in either direction or stay right where they are. That is why we are here. We can help sync your investment portfolio with your balance sheet to help you succeed regardless of what path rates take. With QuantyPhi, you have help to manage your cash flows, monitor your risk, and keep your loan machine fueled. Take care of these three things and you have a clear path to success.

    Contact Us Today

    Did You Know?

    Corporate Central is introducing a new Monthly Market Monitor webinar.

    In place of the Monday Market Monitor conference call Corporate Central has hosted for many years, we are excited to announce a new and improved Monthly Market Monitor webinar! The webinar will be held on the second Wednesday of every month at 3:30 p.m. CT. The webinar format will allow for screen sharing, graphs and other visuals, and interaction with our members. The presentations will provide up-to-date economic highlights, yield curve analysis, investment product recommendations, and outlook. The sessions will also be recorded so if you miss one, contact us and request a copy of the recording. Join us for our first monthly webinar on April 14 @ 3:30 p.m. CT.

    Join the Monthly Market Monitor Webinar

    Credit Unions Connect

    Stories that exemplify the movement

    Supporting the community through service.

    Kauai Government Employees Federal Credit Union employees cleaning up after the storms

    As the Hawaiian island of Kauai recently experienced devastating floods and a landslide, Kauai Government Employees Federal Credit Union’s team jumped into action to help the community in any way they could. Staff helped with donations, cleaning, transporting, boating, hauling, and distributing essential items throughout the community. They also started a campaign to highlight local businesses affected by the natural disaster and are giving away gift cards to members to encourage support of the affected businesses. The credit union stated, “When we eat, shop, support, bank local, we can get through this together.”

    Signs of hope and positivity.

    Park City Credit Union employees holding neon yellow and pink signs

    Park City Credit Union participated in Sunshine on the Street in Tomahawk, WI. Sunshine on the Street was started by the Hometown Chiropractic Center in Tomahawk to show kindness and spread positivity throughout the community. Residents and area businesses held signs with positive messages to help encourage neighbors to look on the bright side.

    Read More Credit Union Stories

    What’s New and Who’s Who

    Khachutar Arutyunyan has joined the Corporate Central team as a Software Engineer.

    Khachutar Arutyunyan

    We are very excited to announce that Khach has joined our growing team! As a Software Engineer, Khach will create, code, test, debug, maintain, and troubleshoot complex applications to meet business requirements, and design and develop business intelligence systems and database systems. He will also design and maintain front-end user interfaces and provide support to end users to identify complex problems and recommend appropriate resolutions. Khach brings over five years of IT experience in software engineering. He started his career as a game developer and switched to front-end software engineering working in startups. He earned his bachelor’s degree from the New York City College of Technology, majoring in Computer Information Systems. Outside of work, he enjoys spending time with his family and friends, and loves watching and playing basketball, riding bicycles and electric scooters, and playing video games.

    Read the Press Release

    Learn More About Our Team

Upcoming Events

Investment Portfolio Benchmarking

4/21/2021 2:00 PM - 4/21/2021 2:30 PM Central Time (CST) | Webinar

Join QuantyPhi for this 30-minute webinar and find out how an investment portfolio benchmarking study can benefit your credit union.

Leverage Data and Technology to Reduce Healthcare Friction

4/27/2021 1:30 PM - 4/27/2021 2:00 PM Central Time (CST) | Webinar

Join InterLutions for this 30-minute webinar to learn five innovative strategies that will reduce the friction in delivering benefits to our most important assets – our employees.

Sallie Mae Student Loan Partnership Refresher (LIVE DEMO)

4/29/2021 2:00 PM - 4/29/2021 2:45 PM Central Time (CST) | Webinar

Sallie Mae will provide a refresher of the student loan program and conduct a LIVE Marketing Portal demo to walk through the process of ordering free higher education marketing materials. If your credit union is using the Sallie Mae student loan program and would like a refresher on the program prior to peak student loan season, this webinar is for you.

How Not to Manage Vendors: Strategies for Avoiding Costly Vendor Management Mistakes

4/29/2021 2:00 PM - 4/29/2021 3:00 PM Central Time (CST) | Webinar

Join Ncontracts as they highlight the strategic mistakes and oversights that lead to third-party vendor problems and what your institution should be doing to prevent them.

40th Annual Membership Meeting

5/6/2021 9:30 AM - 5/6/2021 10:00 AM Central Time (CST) | Virtual

The 40th Annual Membership Meeting of Corporate Central Credit Union will be held virtually at 9:30 a.m. CT on Thursday, May 6, 2021.

Monthly Market Monitor

5/12/2021 3:30 PM - 5/12/2021 4:00 PM Central Time (CST) | Webinar

The Monthly Market Monitor is a webinar geared toward credit union investment managers held on the second Wednesday of every month at 3:30 p.m. CT. It will provide up-to-date economic highlights, yield curve analysis, investment product recommendations, and outlook.

Flexible Funding Options to Reduce High-Cost Claims Risk

5/25/2021 1:30 PM - 5/25/2021 2:00 PM Central Time (CST) | Webinar

Depending on your size, makeup, and risk appetite, moving from the traditional fully-insured funding model can significantly reduce one of your largest budget items – employee benefits and healthcare costs. Join InterLutions for this 30-minute webinar to learn more.

2021 Virtual Economic Outlook Conference

10/12/2021 10:00 AM - 10/13/2021 4:00 PM Central Time (CST) | Virtual

Save the dates for the 2021 Virtual Economic Outlook Conference - Tuesday, October 12 and Wednesday, October 13. 

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