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    July 2017

    A Note From Chris

    I hope you’re all having a terrific summer!

    It’s been another busy month here at Corporate Central, as we recently launched a brand new website. This new website exemplifies the great strides we have taken to strengthen and modernize how we provide information to credit unions nationwide. In keeping with our mission to help members to be wildly successful, streamlining our site is a natural step forward in serving our members’ needs.

    We’re excited to share this updated resource with you as part of our digital transformation initiative. Please take a look through corpcu.com and let us know your thoughts!

    Chris Felton

    What's New & Who's Who @ CCCU

    Corporate Central welcomes three new employees to the Corporate Central team. Matt Cilla is our new Research Analyst, Nick Haisler is our new Investment Assistant, and Malisha Yang is our new Member Services Representative. Pictured from left to right Malisha, Nick, and Matt.

    Corporate Central's Family of CUSOs

    Find out what great things our Family of CUSOs has been up to this past month. QuantyPhi presented at a NASCUS Forum, InterLutions launched their own website, and Emergifi has been prepping to launch.

    Stay tuned for information about the launch of Emergifi, Corporate Central’s technology services CUSO. Emergifi will provide credit unions with services to leverage the cloud to evolve and achieve new levels of success. Service offerings will include business applications, email, storage, remote monitoring and management, backup, service desk, product procurement, compliance, endpoint security management and managed security. For more information contact Gregg Tushaus at (800) 242-4747 x 134.

    On July 25, InterLutions launched their website InterLutionsCUSO.com. We encourage you to explore the new website and learn about the innovative solutions offered to credit unions nationwide.

    On July 11, Kevin Chiappetta, President of QuantyPhi, presented at the Wisconsin Directors’ College hosted by NASCUS. Held at the Fox Valley Technical College in Appleton, WI, the day-long event provided the opportunity for credit union directors to stay on top of critical statutory, fiduciary and regulatory responsibilities, as well as emerging issues.

    Credit Unions Connect - Stories that Exemplify the Movement

    Clean Up Time on the Laramie River Greenbelt
    UniWyo Federal Credit Union in Laramie, WY has been sponsoring a portion of the Laramie City Greenbelt for approximately 10 years. As a sponsor, it is their responsibility to keep a ¼ mile portion clean by going out at least once a year. Nice work UniWyo!

    UniWyo Credit Union cleans up their portion of the Laramie River Greenbelt river walk

    Teeing Up for a Good Cause
    Northwoods Community Credit Union hosted its 16th Annual Charity Golf Classic on Saturday, July 15th at the Park Falls Country Club.  All the proceeds were donated to a local non-profit community group.  A different beneficiary is chosen each year.

    Mobile Tech: What's Next?

    A whitepaper provided by our partners at Malauzai

    Credit union experts reflect on emerging innovations for financial institutions

    Chat Banking—This could be the next big game changer, both in momentum and viability. “Visualize your members typing into Facebook Messenger or talking to Alexa to connect with you,” says Robb Gaynor, Chief Product Officer for Malauzai, Austin, TX.“This will change digital banking and self-service for members forever.” By year-end, he notes that CUs will see the first wave of conversational apps appear in the form of chatbots for Facebook or Alexa for balance inquiries. “By the end of 2018, we’ll all be talking about conversational banking as we enter a massive wave of technology designed to support this exciting new way of interacting with members.”

    New Websites for Corporate Central and its Family of CUSOs

    Corporate Central Credit Union recently launched a brand new website designed to facilitate easy navigation and provide valuable content relating to the credit union movement, the organization and Corporate Central’s family of CUSOs — EmergiFi, InterLutions and QuantyPhi.

    Wisconsin Innovation Group

    The deadline to apply or nominate a candidate for the inaugural Wisconsin Innovation Group is August 4. Sponsored by Corporate Central and The League, the Wisconsin Innovation Group will engage participants in the same innovation curriculum used in Filene's i3 program. Specifically, the program will:

    • cultivate the talent and drive of your credit union's current and future leaders
    • formalize an environment that consistently supports the development of solution-oriented financial services that "wow" your members and improve your outreach
    • involve participants (and their credit unions) in a nine-month process to develop financial products, services and business models that increase credit unions' relevance
    • culminate in an innovation showcase at The League's 2018 Annual Convention & Expo

    Don’t miss out on this great opportunity to advance the credit union movement through innovation!

    Corporate Central Comments on NCUA’s Proposed Changes to Corporate Credit Union Regulations

    On July 3, 2017, NCUA placed proposed changes to NCUA Rules & Regulations 12 CFR Part 704 – Corporate Credit Unions in the Federal Register and allowed for a sixty-day comment period. These proposed changes are important for several reasons: they affect corporate credit union Tier 1 Capital calculations, recognition of Retained Earnings acquired in a merger, and also create a Retained Earnings Ratio benchmark.

    "Corporate Central Summer Camp" Comes to a Close

    "Corporate Central Summer Camp" has come to a close. Our team shared many laughs and had a lot of fun along the way. We also accomplished our ultimate mission of making 1,000 paracord bracelets for Operation Gratitude.

    From left to right: Brian, Chad, Cherie, Fred, Dawn, Michele, Laurie, Kay, Kyle

Upcoming Events

How to Effectively Shop Your Bond & Insurance

Tuesday, February 20, 2018 11:00 AM - 11:45 AM Central Time (CST)

InterLutions, through its inSure - Risk Solutions program, will host a FREE educational webinar about successfully managing your credit union’s bond and insurance plans. Given the challenges credit unions face in this low interest rate environment, the need to examine operating expenses is more important than ever. Join us for this webinar to learn three simple, yet impactful, ideas that any credit union can easily adopt to significantly lower your bond and insurance costs. No cost to attend.

Security Summit

Wednesday, February 21, 2018 8:30 AM - 4:00 PM Central Time (CST)

Protect Your Members. Protect Your Credit Union.
Hacking, skimming, cyberattacks, fraud, embezzlement, these and a host of other security issues are making headlines daily. Members want to know how their credit union is securing their data and credit unions are endeavoring to mitigate risk and keep up on the ever-shifting landscape.

Join The League’s first Security Summit to explore this critical issue and get action steps for your credit union.

Effective ALM Benchmarking

Wednesday, February 21, 2018 12:00 PM - 12:30 PM Central Time (CST)

Information gained from benchmarking allows credit unions to determine how efficient their investment decision-making is relative to the amount of risk they are occurring. Benchmarking is an ongoing process in which credit unions continuously seek the improvement of their balance sheet performance.

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. No cost to attend.

E Is For Exposure: Appendix E & Controlling Mobile Services Risk

Tuesday, February 27, 2018 1:00 PM - 1:45 PM Central Time (CST)

Financial institutions don’t have complete control of the mobile channel. App developers, mobile network operators, device manufacturers, specialized security firms and other nonfinancial third-party service providers all play a role – making risk management critical.

This workshop will guide you through the FFIEC’s Appendix E: Mobile Financial Services to help you:

  • Recognize the role third-party providers play in mobile financial services
  • Devise strategies to identify, measure and mitigate the risks presented by the mobile channel
  • Discover the role contracts play in mitigating third-party risk
  • Address compliance and reputation risk
  • Understand the importance of the board and management in enterprise-wide risk management

Join us as we delve into Appendix E to find ways to improve management of third-party mobile risks in this workshop.

No cost to attend.

Ramping Up Your Student Loan Program

Tuesday, March 6, 2018 11:00 AM - 11:30 AM Central Time (CST)

This webinar will review the Smart Option Student Loan Referral Program. We will review the program guidelines as well as the best marketing practices for the upcoming peak season. No fee to attend.

Protecting Your ATMs and Cardholders from Criminal Attacks

Wednesday, March 14, 2018 1:00 PM - 2:00 PM Central Time (CST)

It’s Time to Rethink Your ATM Security Strategy!

As security breaches and threats increase in frequency and sophistication, it’s imperative to be aware of how ATM security has changed and reevaluate your current security strategy. Attendees will learn changes, trends and challenges in criminal ATM attack techniques impacting security operations.

  • Examples of different types of ATM fraud including card skimming, deep insert skimmers, periscope skimmers, shimming devices and the different methods criminals use for card entrapment
  • The role newer EMV chip cards play in ATM security
  • How to help your members identify an ATM that may have been tampered with by criminals
  • New technology solutions to combat ATM skimming, shimming and cash traps.

With skimming on the rise, it’s up to you to stay one step ahead of the criminals! Join David Krzic, AVP, ATM Product Manager, Elan Financial Services and Michael Negley, National Account Manager, Cennox to learn more. No cost to attend.

Current ALM Policies and Procedures

Wednesday, March 21, 2018 12:00 PM - 12:30 PM Central Time (CST)

Policies and procedures are a certainty in the financial institution industry. Federally Insured Credit Unions (FICU) are required by the NCUA to develop and incorporate interest rate risk polices in conjunction with their existing procedures. Credit unions that practice the most current policies and procedures gain a competitive advantage in the industry.

Developing IRR policies is not an easy task. It requires all levels of the credit union to be involved. The board of directors, senior level management, and all other employees play a crucial role in executing these policies. Proper policies and procedures will allow your credit union to develop proper risk measurement methods that will capture and identify interest rate risk. The end goal is for your ALM policies and procedures to lead your credit union’s decision making. The challenge is to make sure your decision making is in line with your risk results.

Join the QuantiPhi team for a 30-minute educational webinar about the importance of a Policy Review, and how it can improve your credit union.

No cost to attend.

Our Family of CUSOs

Emergifi Logo Interlutions CUSO Quantify CUSO

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