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    January 2018

    A Note From Chris

    It was wonderful to see all the familiar faces and friends at this year’s League’s GAC in Madison, WI.  The strong turnout of Activists helps to ensure that we are doing all we can to help the movement and the members of all of our credit unions. Selfishly for me, the day also has become an annual “battery charger.” Listening to all the amazing stories of how credit unions are helping people through in-school branches, financial education, charitable work, and community involvement, is a tremendous re-charger; and a great reminder of why we in the credit union movement do what we do! Congratulations to the Wisconsin Credit Union League for once again conducting a fantastic and energizing event! I hope to see many of you at CUNA’s GAC in Washington, D.C.

    Chris Felton

    What's New & Who's Who

    Have you heard the news? Sandy Garcia-Alvarez celebrated her 7th year with Corporate Central! Sandy is always friendly and efficient with every call she takes. She makes every credit union feel welcome and is a leader in the member service area. Congratulations, Sandy!

    We asked your Corporate Central team members to select 5 random questions to answer for this month's Corporate Connection.

    Getting to know...Corporate Central's Sandy Garcia-Alvarez

    1. What is your favorite childhood memory? Receiving a red bike for Christmas
    2. Who was your childhood actor/actress crush? Rob Lowe
    3. What was the first concert you ever went to? Bobby Brown
    4. What was your first record, tape or CD that you ever owned? Donna Summer
    5. What do you like about working at Corporate Central? I like the fact that if I have a concern I know I can go to my supervisor and be heard. I also feel that Corporate Central truly cares for its employees, it's like being a family.

    Dawn Beyer, our Administration Manager, celebrated her 20th year with Corporate Central in January! Dawn makes everything run smooth and perfect, while making it look easy. Thank you and congratulations, Dawn!

    Getting to know...Corporate Central's Dawn Beyer

    1. What is your favorite childhood memory? Family barbeques at our house with Grandma, Grandpa, aunts, uncles and cousins. I cherish the memories and am grateful to have been blessed with such a wonderful family.
    2. What was the first concert you ever went to? The Jackson 5 - what can I say, I'm a dancing machine!
    3. If you could pick three famous people to be a part of your entourage, who would you pick?
      I already have a great entourage – but if I were to add three famous people – I think I would include Matthew McConaughey and Gerard Butler for laughter, and George Strait for sound.
    4. What is something people would be surprised to know about you? That at a very young age I tried to make friends with a bumble bee. I just couldn’t understand why he stung me – after all, it looked like fur and all I wanted to do was pet it. Of course, Mom came to the rescue with a mud paste!
    5. Why do you work for a credit union? My job enables me to love my work. I am surrounded by the most knowledgeable and creative minds working collaboratively to bring innovative ideas that add value to credit unions and the credit union movement. I am so proud to be part of the credit union movement.

    Thanks to Elry Armaza and Cortney Angeley from Filene Research Institute for coming to Corporate Central on January 15 to provide us with an innovative experience!

    We covered a lot in one day: starting with Human Centered Design, creating Empathy Maps, working on Problem Statements, and finally brainstorming lots of unique ideas.

    2018 State Government Affairs Conference

    Activists strengthened relationships with lawmakers, spread the impact of the credit union difference and learned how to continue effective advocacy beyond this year's one-day event. Thank you to everyone for supporting the movement!

    Did You Know?

    In January 2017, Corporate Central’s Team Fee-novate leveraged the recent efficiencies gained from technological enhancements, better processes, form reduction and contract negotiation -- and completely redesigned our fee schedule. The team eliminated over 100 member charges!

    COACH III and Corporate CAFÉ user admin fees were part of this fee elimination. Credit unions can now have unlimited users for these applications with no charge. If you or your staff needs any assistance in setting up additional users, please contact Member Relations at (800) 242-4747.

    Credit Unions Connect

    Ahh the joys of summertime, but going to your local park could be challenging for children and adults with special needs. Altra Federal Credit Union donated $75,000 to help make All Abilities Trane Park. The project is designed to be fun and accessible; a community within a community that can bring together individuals of all ages – from toddlers to seniors – and all abilities to experience the simple, everyday joy of outside play. Way to go Altra Federal Credit Union on helping La Crosse County!

    Altra donated $75,000 toward the Trane All Abilities Park. The park will support activity for anyone, regardless of age or ability and will provide a sensory-rich environment to allow people to develop physically, socially and emotionally.

    Glacier Hills Credit Union proudly delivered hundreds of items and a check for over $200 to the Washington County Humane Society. Each year the credit union chooses a charity for its annual holiday giving event. Nice work Glacier Hills!

    A Great Read

    The End of Money by David Wolman

    What is cash anyway? The simple answer is little metal discs and strips of paper bedecked with dead white guys and cryptic messages that make Nicholas Cage go even more bug-eyed. But what is its place in our economy, our culture, and our minds? Could we ever do without it? Should we?

    Although predictions about the end of cash are as old as credit cards, a number of developments are ganging up on paper and metal money like never before: mistrust of national currencies, novel payment tools, anxiety about government debt, the triumph of mobile phones, the rise of virtual and alternative currencies, environmental concerns, and a wave of evidence showing that physical money is most harmful to the billions of people who have so little of it.

    This book is about the twilight of money in its most commonly understood form, and a search for the places, people, and ideas that provide a glimpse of what comes next.

    Our Family of CUSOs

    Gregg Tushaus, President of Corporate Central Credit Union’s technology CUSO, Emergifi, will present disaster recovery best practices at the Wisconsin Credit Union League’s Security Summit on February 21, 2018. The inaugural event—held in Green Bay, WI—will feature learning sessions that offer credit union-specific insights related to hacking, skimming, cyberattacks, fraud, embezzlement, and a host of other critical security issues.

    “What would you do if your credit union was next to make headlines for a cybersecurity nightmare?” proposed Tushaus. “Together at the Security Summit, we will explore the action plans for credit unions facing a variety of potential business disruptions. We will also discuss the pros and cons of various responses.”

    In an interactive learning session, Tushaus will use case studies to role play responses to a variety of disruptive scenarios, such as snow emergencies, denial of service attacks, ransomware attacks, building fire, disgruntled IT employees and more. “We look forward to helping credit union professionals in operations, IT, and human resources prepare for, ward off, and respond to cybersecurity attacks. The success of our entire industry depends on each individual credit union’s ability to both prevent and manage cybersecurity breaches,” Tushaus said.

    Register for The League’s Security Summit here.

    InterLutions President, Jesse Kohl, was recently interviewed by CUToday to discuss the challenges credit unions are facing with rising healthcare costs. The title of the article Healthcare Continues to Pose Problems for Credit Unions addresses the key strategies credit unions can employ to continue providing attractive benefit packages at reasonable costs.

    “Offering generous employee benefit plans has been a hallmark of the credit union industry, and we want to keep it that way. But continuous price hikes, along with the insurance industry’s practice of announcing new pricing late in the year, makes the healthcare benefit/cost balancing act more and more difficult,” Kohl explained. “Oftentimes, renewal terms are not known until shortly before open enrollment begins. As credit unions wait for the new terms, they run out of time to make strategic and impactful changes. Falling into this trap makes it a challenge to stay ahead of the game, but it is possible.”

    But there is a solution to be found in using big data and “high-powered systems” that can run what-if scenarios and target benefit services that focus on credit union-specific solutions.

    Read the full article at InterLutionsCUSO.com.

    The Effective Use of ALM Benchmarking 

    Information gained from benchmarking allows credit unions to determine how efficient their investment decision-making is relative to the amount of risk limit offered from the rest of the balance sheet. Benchmarking is an ongoing process in which credit unions continuously seek the improvement of their balance sheet risk/expected return tradeoff.

    Proper ALM benchmarking can assist CEOs, CFOs and other credit union leaders to define the optimal strategy for their credit union. This enables them to identify where the investment decisions lead, lag or remain at par with other portfolio selections. In addition, benchmarking provides the basis by which the credit unions can articulate key investment options, helping to identify what types of securities belong in their portfolios.

    Join the QuantyPhi team for a 30-minute educational webinar about the effective use of ALM Benchmarking. Register at QuantyPhi.com.

    Meeting Space Available

    In need of a large open room for training sessions, larger meetings, or even a giant planning session? Here at Corporate Central we have you covered. Our training room on our lower level can accommodate up to 70 people and all members are welcome to use the space free of charge. We've recently upgraded to a state-of-the-art projector and screen as well. If you are interested in reserving space for an upcoming event please contact us at (800) 242-4747.

Upcoming Events

Blindsided: How to Respond when a Vendor gets Hacked

Tuesday, June 12, 2018 1:00 PM - 2:00 PM Central Time (CST) | Webinar

Join us as we examine how financial institutions can best protect their blindside by having a documented vendor incident management plan to further mitigate their risk in working with vendors that have access to GLBA-protected data.

Measuring Liquidity in Your Investment Portfolio

Wednesday, June 20, 2018 12:00 PM - 12:30 PM Central Time (CST) | Webinar

This session will focus on internal liquidity in your investment portfolio. How do you measure liquidity? How do you build a portfolio for liquidity? What should you look for going forward?

Liquidity Solutions from Corporate Central

Tuesday, June 26, 2018 11:00 AM - 11:30 AM Central Time (CST) | Webinar

Join us for a 30-minute high-level webinar to explore the liquidity options available from Corporate Central including term borrowing, secondary lines of credit, letters of credit, student lending, issuing non-member deposits through SimpliCD, and more!

Batman and Risk Assessments – BOOM!

Thursday, August 9, 2018 11:00 AM - 11:30 AM Central Time (CST) | Webinar

BAM! Join us as we unmask the various risk assessments at your credit union.
POW! Get ready to add a few gadgets to your risk management utility belts.
KABLAM! Learn why strategy and risk go together like the caped crusader and his sidekick.

Economic Outlook Conference 2018

Thursday, October 11, 2018, All Day Central Time (CST) | Monona Terrace Madison, WI

The Economic Outlook Conference will be held on Thursday, October 11, 2018 in Madison, WI at the Monona Terrace - Hall of Ideas EFHI.

Our Family of CUSOs

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Corporate Central Credit Union
6262 South Lowell Place, Muskego, WI 53150
Phone: (800) 242-4747 | Fax: (414) 427-3700
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