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December 2022

    A Note from Chris

    As 2022 draws to a close, I want to extend my sincerest gratitude and heartfelt appreciation for each and every one of you involved in this incredible credit union movement. Your hard work and dedication to the “people helping people” credit union mission has significantly and positively impacted the lives of so many members. It’s been a dynamic, eventful year and we look forward – with great enthusiasm – to working with you again next year to continue leading and shaping the future of our movement. From all of us at Corporate Central, we wish you and your family a safe and enjoyable holiday season, a very Merry Christmas, and a prosperous New Year.

    Sincerely,

    Chris Felton
    President/CEO

    What's Trending?

    Three strategies for financial institutions to support financial health.
    Most consumers (80%) want their primary financial institution to help improve their financial health, but only a small percentage (14%) say their institution actually helps. And this demand is only growing: Approximately 176 million Americans, or 70% of the population, are not considered financially healthy, according to the Financial Health Network’s 2022 U.S. Trends Report. Current economic conditions are only adding fuel to the existing national financial health crisis.

    Read the Article

    Technology Solutions

    Combat the IT talent war.
    Credit unions, like many small businesses across a variety of industries, struggle to hire experienced cyber talent. They simply can’t chase the investment as it isn’t a one and done situation – the investments are ongoing to keep up with the rapidly changing and increasingly complex cyber challenges. Learn how CUSOs can help credit unions build capacity to meet evolving and sophisticated tech needs.

    Read the Article

    Optimize Your Revenue Channels

    A solution that will positively impact your 2023 budget.
    InterLutions has helped over 60 credit unions save a combined $10 million since 2017 by leveraging vast resources in pricing and service data. Our program, called CU-Save, reviews third-party vendor contracts to realign pricing, increase incentives and income, and remove restrictive service requirements leading to a much improved and mutually beneficial agreement.

    Almost 90% of the credit unions we have worked with realized they were paying vendors too much, so given the high probability of success, we offer an initial cost-savings assessment at no cost or obligation to your credit union. We are also happy to report that credit unions can retain their existing or preferred service partners with zero impact on service levels and no operational disruption.

    Utilizing an archive of invoice data and payments analytics, along with a proprietary software database of industry benchmarks, our contract negotiation team leverages the power of data to help credit unions significantly lower their operational expenses.

    Contact Us for a Free Evaluation

    Financial Services Consulting

    Let your balance sheet be your guide.
    The Fed remains the focus of market attention as they continue their tightening program aimed at bringing inflation closer to their 2.00% target. Little has changed on this front as the Fed remains transparent in their speeches and actions. The month began with a fourth consecutive 75 basis point rate hike bringing the target range to 3.75 – 4.00%. They are signaling they will likely be reducing the size of the hikes going forward. Volatility levels remain elevated as analysts waver on the expected peak of the fed funds rate, or terminal rate target. Current consensus, backed by implied rates from the fed funds futures market, puts it at 5.00% mid 2023, followed by reductions the second half of the year to approximately 4.625%.

    For the month, Treasury yields rose 10 basis points in the one-year maturity but saw two-year yields fall 8 basis points and three-to-ten-year maturities drop 25 to 35 basis points. Treasury yields currently peak at 4.75% in the one-year maturity then drop to 4.50% area for two years, 4.25% for three years, and 3.875% for five years. The inverted yield curve reflects the market’s expectation that we will see the Fed pivot into an accommodative stance next year and start bringing rates back down.

    With the Fed, market analysts, and the yield curve all in alignment, how confident can we be that this will be the path rates take going forward? Perhaps the easiest way to answer that question is to step back in time. In December 2021, the Fed was projecting its target fed funds rate for year-end 2022 at 0.875% and 1.625% for year-end 2023. The fed funds futures market at the time had an implied rate of 0.80% for December 2022. The elevated inflation rates were described as transitory at the time.

    There remains a host of factors that can have something to say about where rates end up going in the future. The Russian invasion of Ukraine continues, The US House has turned red, China is struggling with a COVID lockdown and civil unrest, and the reigning NFL MVP has a broken thumb. Whether you are structuring funding for your loan portfolio or positioning your investment portfolio, continue to let your balance sheet be your guide and avoid rate bets. QuantyPhi is here to help when you need us.

    Contact Us

    Did You Know?

    Beastro users can view enhancements and submit feature requests.
    The Beastro Knowledgebase is designed to equip users with the skills and knowledge necessary to successfully access the application and navigate through commonly used functions. It also provides articles about the latest enhancements. Many enhancements come from member users submitting feature requests. The link to request a Beastro feature can be found on the bottom of the knowledgebase home page.

    Visit the Beastro Knowledgebase

    Credit Unions Connect

    Stories that exemplify the movement

    A place for all to play.

    Royal Credit Union Foundation (RCU Foundation) made a $25,000 gift dedicated to the construction of Fairy Wonderland Park in Prescott, WI. The inclusive park will promote play, creativity, and socialization for kids of all ages and all abilities. The RCU Foundation stated, “We recognize that having spaces in a community where people can come together to learn, to recreate, and to build connections is vital to fostering relationships and creating a vibrant community for everyone.”

    Charity Golf Outing benefits local youth.

    Affinity Credit Union donated $21,750 to Big Brothers Big Sisters of Central Iowa. The 2022 Charity Golf Outing marked the credit union’s 28th golf fundraising campaign. Big Brothers Big Sisters of Central Iowa thanked the credit union stating, “Your generous donation will help us ignite the power and promise of our youth through meaningful 1:1 mentoring relationships in our community.”

    Read More Credit Union Stories

    Our Community

    Corporate Central continues to support Christmas with the Vets.
    Christmas with the Vets was started by Jeff “Doc” Dentice, a Vietnam veteran, in 1988. The event is designed to provide some holiday cheer to the hospitalized veterans at the Milwaukee VA Medical Center and is made possible through several fundraising efforts. Corporate Central has been a proud supporter of this event since 2016 and each year strives to do more! If you would like to help us reach our goal of $5,000 this year, please consider helping us bring Veterans in the Milwaukee area a very Merry Christmas!

    Donate to Christmas with the Vets

    What’s New and Who’s Who

    Pete Xiong is Microsoft Azure Certified.
     

    We are proud to share that Pete Xiong, Systems Engineer, has become Microsoft Azure Certified after passing the az-900 Azure Fundamentals exam. According to Microsoft, “Candidates for this exam should have foundational knowledge of cloud services and how those services are provided with Microsoft Azure.” Microsoft further explains that the “Azure Fundamentals exam is an opportunity to prove knowledge of cloud concepts, Azure services, Azure workloads, security and privacy in Azure, as well as Azure pricing and support. Candidates should be familiar with the general technology concepts, including concepts of networking, storage, compute, application support, and application development.” Congrats, Pete!

    Read the Press Release

    Orianna Valentine promoted to Marketing Strategist.

    Orianna Valentine has been promoted to Marketing Strategist! In this role, she will enhance the organization's sales and member engagement efforts through successful marketing campaigns. She will also work to increase lead-generation results by initiating new and collaborative strategies between the marketing and sales employees. Leveraging her past marketing success at the corporate, Orianna will now become actively involved with the member and service onboarding process through increased communication strategies. She will also continue to manage the organization’s email marketing and social media campaigns; engage with appropriate credit union marketing trade organizations to develop effective paid marketing campaigns; and collaborate across departments to research, develop, and curate relevant content for Corporate Central and its family of CUSOs. Congratulations, Orianna!

    Read the Press Release

    Learn More About Our Team

    Sally Dischler retired from the Corporate Central Board and as CEO of Heartland Credit Union.

    After 11 years of dedicated volunteer service, including Board Chair from 2019 to 2021, Sally Dischler, CEO of Heartland Credit Union in Madison, WI, has retired from the Corporate Central Board of Directors. Sally had been CEO of Heartland Credit Union for 21 years. Congratulations, Sally! We wish you all the best in retirement!

    Read the Press Release

    Corporate Central welcomes Angela Hanson as newest Board member.

    The Corporate Central Board of Directors unanimously selected Angela Hanson, President/CEO of Heartland Credit Union based in Madison, WI to fill the vacant position, following the retirement of Sally Dischler. Angela has over 22 years of credit union and management experience including strategic planning, innovation, and human resources. She holds designations of Certified Chief Executive (CCE), Certified Credit Union Executive (CCUE), and Society for Human Resources Management – Certified Professional (SHRM-CP). She is also active in the credit union industry serving as the Board Chair of the Wisconsin CUES Council. Angela received a Bachelor of Arts degree in Communication with a Minor in Sociology from Winona State University in Winona, MN. Welcome, Angela!

    Read the Press Release

    Learn More About Our Volunteers

Upcoming Events

Monthly Market Monitor

2/8/2023 3:30 PM - 2/8/2023 4:00 PM Central Time (CST) | Webinar

The Monthly Market Monitor is a webinar geared toward credit union investment managers. It will provide up-to-date economic highlights, yield curve analysis, investment product recommendations, and outlook.

Your Nonprofit Resource for Student Lending

2/9/2023 10:00 AM - 2/9/2023 10:45 AM Central Time (CST) | Webinar

Corporate Central partners with ISL Education Lending to offer private loans to help students pay for college as well as refinance existing student loans. Our student loan solution delivers credit unions and their members competitive rates and enhancements that were not available before.

A CUSO’s Healthcare Solution for Small Credit Unions

2/14/2023 1:00 PM - 2/14/2023 1:30 PM Central Time (CST) | Webinar

Join the InterLutions team for a complimentary 30-minute webinar to learn how their customized solutions are helping small credit unions offer affordable and quality employee health plans.

Monthly Market Monitor

3/8/2023 3:30 PM - 3/8/2023 4:00 PM Central Time (CST) | Webinar

The Monthly Market Monitor is a webinar geared toward credit union investment managers. It will provide up-to-date economic highlights, yield curve analysis, investment product recommendations, and outlook.

An ALM Lookback

3/15/2023 2:00 PM - 3/15/2023 2:30 PM Central Time (CST) | Webinar

Join QuantyPhi for this 30-minute webinar as we look back at how 2022 affected ALM results and how you can best steer your ALM strategy going forward.

2023 Digital Marketing Forum

3/22/2023 9:00 AM - 3/22/2023 2:00 PM Central Time (CST) | Virtual

Corporate Central's Digital Marketing Forum will be held virtually on Wednesday, March 22. The forum will feature session topics including SEO, Google Ads, and social media marketing.

Our Family of CUSOs

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