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    August 2020

    A Note from Chris

    There is no doubt, this year has been a challenging one. The months seem to pass by faster and faster and we find ourselves still navigating the twists and turns that present with little to no warning. Here we are, the beginning of August. The end of summer is approaching and soon kids will be returning to school (in some fashion). I hope you and yours are safe, healthy, and have found time to truly connect with one another through these unusual times.

    Corporate Central has endeavored to connect with all of you and we have always asserted that we are here to serve you. We adapted quickly to the changing environment and we have listened to you. We have worked hard to put necessary infrastructure and protocols in place to provide as much value as possible for your membership with Corporate Central. We are pleased to report that even in uncertain times we have welcomed an influx of new credit union members from across the country seeking that value.

    The value of membership comes in different forms. For many, it is a line of credit for settlement and liquidity needs, or competitive and flexible short- and long-term investment options. For others it is Corporate Central’s history of consistently paying industry-leading rates on capital accounts or the innovative service offerings from our family of CUSOs – Emergifi, InterLutions, and QuantyPhi. The bottom line is credit unions are not joining for attention grabbing “hot rates” or one-time discounted fees, but rather the value we strive to deliver day in and day out. People helping people – the credit union way, everyday!

    We are your credit union and we value your support and your partnership.

    Chris Felton's signature

    Chris Felton
    President/CEO

    What Really Goes On at I-Care?

    Easier said than done. Or is it the other way around?
    I-Care is a collaborative employee healthcare solution that allows credit unions to provide better benefits for their employees at lower costs. Current participants agree that when it comes to I-Care, it just makes sense for credit unions. Although making the switch to I-Care was easy, talking about it proved to be more difficult. Nonetheless, it is fun to watch!

    Watch the Bloopers

    What’s Trending?

    Digital transformation in the age of COVID-19. What should credit unions deliver?
    Digital transformation is here with a vengeance, whether we like it or not. The global COVID-19 pandemic has people paying with mobile apps instead of cash, applying for and receiving assistance online, and coping with anxieties around housing, employment, debt, and even bankruptcy. The cascading consequences of the pandemic means that credit unions must urgently engage with business reinvention to continue their mission of service to their members’ financial well-being. How can this mission be sustained even as online becomes the dominant way they deliver products, offer support, and work with members to solve problems?

    Read the Article

    Technology Solutions

    Introducing access control.
    Emergifi launched a new partnership with Verkada, the fastest growing video security company in the world, to deliver our clients smarter, safer video security through hybrid cloud surveillance. We are excited to announce that we have now added access control to our suite of solutions. Verkada door controllers bring plug-and-play simplicity to enterprise-grade access control. Secure, out-of-the-box Verkada door controllers support existing door hardware and card readers while enabling cloud-based access to a limitless number of doors and events occurring across your credit union. Learn how we can protect your credit union!

    For more information about Verkada’s cloud-based access control, please contact Emergifi.

    Revenue Enhancement Solutions

    How do you really know that you are getting the best price from your vendor partners?
    Over six years ago, InterLutions launched CU-Save, an exclusive cost saving service designed to dramatically lower balance sheet expenses. CU-Save’s experts review third-party vendor contracts and work with your credit union’s vendor partners to renegotiate your pricing and service requirements. The best part is… It’s free!

    CU-Save Testimonials

    When it is time to renew big-ticket vendor services, you can rest easier knowing CU-Save has you covered. The experienced CU-Save team has over 20 years of pricing and service data information from working with vendors in every U.S. market. Over the past three years alone, CU-Save has saved almost $10 million in operating expenses, averaging $300,000 per credit union, simply by leveraging their cost analysis data on behalf of your credit union.

    Below is a list of sample agreements that can often have a meaningful 5% to 20% immediate savings impact to your bottom line:

    • Core processing platforms
    • ATM purchasing and maintenance
    • Signature, PIN, ATM/debit card
    • Merchant processing
    • Mergers and acquisitions (M&A)
    • Online/Internet banking
    • Telecommunications
    • Credit card processing and branding
    • Equipment maintenance
       

    Call CU-Save at (414) 433-0174 to learn more and begin discovering your savings potential.

    Learn More About CU-Save

    Financial Services Consulting

    QuantyPhi, along with Corporate Central, is now offering investment advisory services to members.
    There was little in the way of July fireworks for the markets. Volatility took a vacation evidenced by a 2 ½ basis point range on the three-year Treasury yield for the month. The bond market paid little attention to the equity markets which continued to bounce around in July. Yields stayed low as participants watched the economy begin to reopen only to pull back when states reported renewed surges in the coronavirus as a result.

    Liquidity remained the hot topic of conversation among credit unions in July. Despite decent loan demand, the government stimulus programs have inflated balances and the money is proving to be sticky. Kevin Chiappetta, President of QuantyPhi, hosted a webinar discussing the need to identify the liquidity of investment candidates to understand the likely effect if the stimulus funds disappear and the securities need to find a bid. If you missed it, let us know and we will provide a replay.

    The highlight of the month for QuantyPhi was the introduction of another new service to help members optimize their balance sheets. This one essentially does it all. Along with Corporate Central, QuantyPhi is now able to provide investment advisory services* to members through their partnership with ProEquities, Inc. All the required analytical tools, market insight, and reporting tools to provide proper review of current risk position, asset liability forecast assumptions and reporting, balance sheet strategies, and management reporting are provided with the service. Corporate Central and QuantyPhi do all the heavy lifting and present documented strategies for management approval. All necessary relationships, commission free trades, tools, and reporting are provided for one low fee. For more information, speak with your Financial Strategist or visit us at quantyphi.com.

    *Advisory Services offered through Investment Advisors, a division of ProEquities, Inc., a Registered Investment Advisor.

    Did You Know?

    You can earn up to 1.5 CPE credits for participating in our next virtual HR workshop.
    There is no such thing as too much information when it comes to HR. That is why we are bringing it to the forefront with our virtual HR workshop on August 13, 2020. This informative event will demonstrate how credit unions can enhance their employee-focused operations.

    InterLutions teamed up with our partner, Vizo Financial, to offer this workshop, where credit unions can come to explore disaster planning from an HR perspective and discuss their branch reopening experiences with a panel group.

    Why should you attend?

    • See how credit union collaboration surpasses even more than just operational benefits
    • Get HR tips to help your credit union, no matter your size
    • Hear from a panel of HR experts
    • Learn about the innovative new models from I-Care
    • The workshop is provided at no-cost to all attendees
    • Earn up to 1.5 CPE credits

    The agenda includes:

    • Welcome, Introduction, and I-Care Update
    • Disaster Planning: Prepping for Disasters, Including a Possible Round II of the Coronavirus
    • HR Roundtable
    • Closing Remarks and Dismissal

    Register Now

    Credit Unions Connect
    Stories that exemplify the movement

    Everyone deserves to safely enjoy the beautiful U.P. beaches!

    Delta County Credit Union with large check for Camp Harstad

    Delta County Credit Union in Escanaba, MI recently donated funds to Camp Harstad Rotary/YMCA to help efforts to teach swimming safety to camp attendees. The camp provides a welcoming, fun community for children with special needs in the Upper Peninsula of Michigan.

    Meet Billy. A furry, four-legged superhero!

    Collins Community Credit Union with large check for Polk Alternative Education Center

    On July 21, Collins Community Credit Union in Cedar Rapids, IA presented a check to the Polk Alternative Education Center to fund the purchase and training of a new service dog. The dog, named Billy, will help children facing challenges with social, emotional, and behavioral skills.

    Read More Credit Union Stories

    What’s New and Who’s Who

    Michael Baumann made the move from Member Services to Investments.
    We are excited to share that Michael Baumann has accepted a new position with Corporate Central as an Investment Assistant. In his new role, Michael will provide review, analysis, and administration of activities related to Corporate Central’s financial products and services. His responsibilities will also include monitoring, reporting, and compiling data for economic, market, sector, and counterparty research and due diligence efforts.

    Michael first joined our team in November 2019 as a Member Services Representative where he provided superior member service and served as a liaison between members and staff to facilitate proactive relationship development. Michael graduated from the University of Wisconsin-Stevens Point with a bachelor’s degree in Business Administration with a concentration in finance, insurance, and real estate. He also has a minor in Economics and is continuing his education at the University of Wisconsin-Milwaukee for a master’s degree with a financial concentration. Michael’s experience along with his career ambitions, and education in business, finance, and economics align very well with our growing Investments department. Congratulations, Michael!

    Read the Press Release

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.

Ctrl+Alt+Innovate

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

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