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    July 2020

    A Note From Chris

    Summer is finally here, and it will surely be a summer like no other. Many of our favorite summer activities, parades, concerts, fairs, etc. are not happening this year as we all continue to deal with the pandemic. However, I have found that this situation provides us all an opportunity to strengthen our family bonds, reconnect with distant relatives, spend time with close friends, and get back to the basics of life...relationships. Talking more, facetiming more, spending quality time together, whatever connects us to each other is what is most important. I hope you, and yours are enjoying the unique opportunity this summer brings us.

    I would like to take a moment to highlight a very important topic regarding the service flexibility for Corporate Central, the relationships we have with our members across the country, and the NCUA regulations that factor into our ability to effectively manage risk and provide valued borrowing options to all of our members.

    As you may or may not know, the regulation for corporate credit unions, NCUA Rules & Regulations Part 704, is currently open for comment. Corporate Central is in the process of formulating a comment letter in response to the NCUA proposed comments. Our response will focus on a few key topics, but most importantly we will be commenting on the potential for corporate credit unions to expand their non-liquidity borrowing capacity to improve risk management and lending to credit unions. An important role of Corporate Central continues to be that of a lender to our members. We believe our response and comments to NCUA Rules & Regulations Part 704, along with your support, will help us better serve the credit union movement.

    We will send a communication to all members with our completed letter in the coming days, so please watch for that communication. We encourage all of you, our members, to provide your own comments on the items important to you. Please contact us if you would like assistance with some talking points, we are here to help!

    I wish all of you a very happy, healthy, and safe Independence Day!

    Chris's Signature

    Chris Felton
    President/CEO

    What’s Trending?

    Member lifestyle changes credit unions can leverage during and post COVID-19.

    As daily life under COVID-19 continues to change, credit unions should prepare for long-term changes to member behavior. With members taking to new banking channels and adjusting their spending behaviors, credit unions can design products and experiences that support their members’ lifestyles now and after COVID-19. Looking at member behavior leading up to and throughout COVID-19, there are four key areas every credit union should focus on.

    Read the Article

    Technology Solutions

    Credit union security just got smarter.

    Recently, Emergifi launched a new partnership with Verkada, the fastest growing video security company in the world. Verkada provides smarter, safer, and more secure credit union spaces through hybrid cloud surveillance. Not only does Verkada’s advanced technology remove the burden and expense of unnecessary equipment such as NVRs, DVRs, and on-premise server storage, but the ease of use allows credit unions to scale coverage and improve visibility across all branches.

    Proactively protect your space.

    Through artificial intelligence, Verkada’s cameras can analyze footage in real-time, providing credit unions the ability to quickly search and filter footage by people, vehicles, and more. With facial recognition, suspicious persons of interest can be flagged, followed, and shared immediately with authorities, all at the touch of a button. Should action be needed to secure the space, Verkada camaras and access control are integrated, ensuring lockdown at points of entry. As the recent pandemic has shown, some threats we cannot see. Verkada’s heat mapping feature can assist in spatial guidelines and contact tracing.

    To learn more about how Emergifi and Verkada are helping enhance credit union security, review our recent webinar.

    For more information please contact sales@emergifi.com or visit our webpage.

    A Credit Union Panel Discussion

    How will this pandemic affect 2021 health insurance premiums? 

    We are now three months into the COVID-19 pandemic in the United States and still trying to figure out whether health insurance premiums will decrease or increase for the coming enrollment year. According to America’s Health Insurance Plans, a trade organization for insurers, it may be foreseeable that the impact to health insurers may actually decrease by $76 billion. On the other hand, they say there could be an increase of $216 billion over the coming two-year period. The uncertainty currently stems from a reduction in elective surgeries and other healthcare procedures that have reduced clinic and hospital caseloads. The bottom line is that all this prognosticating still comes down to uncertainty and that it may be too soon to get a real handle on the projections.

    A strategy many credit unions have employed to help mitigate the chance of high renewal quotes is a collaborative one. The I-Care employee benefits solution has proven to lower medical insurance costs, improve efficiency of HR personnel, and enhance reporting with better healthcare claims data and analysis. Learn more about collaborative strategies to offer your employees better benefits.

    Learn More About I-Care

    Financial Services Consulting

    QuantyPhi is helping credit unions manage the deposit surge.

    Things did not slow down at QuantyPhi in June. As the COVID-19 quarantine slipped into the beginning of summer, and the country saw widespread cries for social justice, the credit union business continued its rapid pace. We hosted a webinar addressing the question most members have been asking – “What do I do with the deposit surge we’ve experienced?” The government stimulus checks and increased unemployment benefits in response to the COVID quarantines made its way to credit unions who have seen much of it stick. With short-term rates dancing near zero, the investment landscape has been challenging. Cash deposits build the pressure to grab yield wherever it can be found. Chasing yield can be tempting but often does not end well. The ability to harness meaningful analytics that measure income against risk and balance sheet outcomes across the interest rate spectrum can tilt the odds of success in your favor. Wade Cooper, Financial Strategist at QuantyPhi, spoke to the challenges and offered some examples of navigating the barren landscape.

    If you would like to listen to the recording of the webinar or discuss what makes sense for you moving forward just touch base with us. We are here to help.

    Contact QuantyPhi

    Did You Know?

    Relationship Development Officer, Mark Volz, currently participating in Filene’s i3 program.

    Filene’s i3 (Ideas, Innovation, Implementation) program brings top credit union professionals together to brainstorm, test and create products, processes, and business models to better serve credit union member needs. Selected credit union leaders participate in a two-year development journey working within small groups to address some of the biggest issues facing the credit union industry. Over the course of two years, each i3 group completes four cycles of problem solving, lasting six months each. The i3 groups deliver outputs for each project cycle and have an opportunity to connect with i3 alumni and industry leaders at Filene events. Over 260 credit union leaders have been a part of the i3 group. Since the program’s inception in 2004, more than 150 concepts have been introduced. These product, service, and business model innovations help credit unions build operational efficiency, generate loans, mobilize savings, reach communities, and strengthen membership.

    Mark’s group, who call themselves Team Delorean, was tasked with addressing an issue from Filene's "The Credit Union of the 21st Century" report. They decided to tackle rising income volatility and difficulty saving. While diving deeper into the subject, the group noticed transportation came up quite a bit in their discussions. More specifically, how members and communities are impacted by the lack of transportation and figuring out how to get from point A to point B. Transportation insecurity is very common and plays a large role in the prosperity of credit union members and communities. The group continues to explore ways to help with this issue, and they are looking for partners and people who may be directly affected by transportation insecurity to connect with them and join them on the journey to solve this issue.

    Credit Unions Connect

    Stories that exemplify the movement

    Dane County Credit Union donates $20,000 to local non-profits.

    Dane County Credit Union with large checks

    In partnership with the Federal Home Loan Bank of Chicago COVID-19 Relief Program, Dane County Credit Union in Madison, WI, donated $20,000 to local nonprofits providing needed services for those affected by COVID-19 in their community. The donation was split between River Food Pantry, Allied Food Pantry, Catholic Multicultural Center, Road Home, and Centro Hispano.

    BlueOx Credit Union steps up to help an assistant living facility in their community.

    BlueOx Credit Union with cards for assisted living community

    BlueOx Credit Union in Portage, MI recently delivered flowers and cards to the residents of Bickford of Portage, an assisted living and memory care facility. As a token of appreciation to the essential workers taking care of these seniors during the pandemic, they also included a Panera gift card for staff to get a well-deserved meal.

    Read More Credit Union Stories

    Our Community

    Third annual Addie’s Angels on Earth donation drive reaches goal of $3,000 in donations.

    Addie's Angels on Earth logo

    Corporate Central’s Shannon Cate, Member Services Specialist, and her husband Kevin started Addie’s Angels on Earth in 2018 to celebrate and remember their daughter, Addison Marie, who was stillborn on June 3, 2016. The charity organization holds a donation drive every June to collect items and funds towards the creation of infant loss boxes at a local Milwaukee area hospital. These boxes are provided to all parents that are leaving the hospital with their babies in their hearts instead of their arms. This year, the donation drive exceeded the goal of $3,000 in funds and materials!

    “We cannot stop the heartache of losing a baby for another family; but we can try to ease their pain and suffering. To those of you that are on this journey with us – we see you, we appreciate you, and know you are not alone!” ~Kevin and Shannon Cate

    Learn More About Our Community

    What’s New and Who’s Who

    Corporate Central set to host virtual Economic Outlook Conference.

    Corporate Central will host our annual Economic Outlook Conference virtually this year. The conference will consist of four different presentations and a panel discussion over two days – Tuesday, October 13 and Wednesday, October 14. Registration and more information are available on our website.

    Tuesday, October 13
    10:00 a.m. to 10:15 a.m. - Introduction from Kevin Chiappetta, CFA, President of QuantyPhi
    10:15 a.m. to 11:15 a.m. - Roger Tutterow, Ph.D. on the Economic, Business, and Political Climate
    2:00 p.m. to 3:00 p.m. - Clare W. Zempel, CFA, CBE, on the Economic and Financial Market Outlook: 2020-2024

    Wednesday, October 14
    10:00 a.m. to 11:00 a.m. - Charles Dougherty on the Economic Outlook in the U.S.
    2:00 p.m. to 3:00 p.m. - Mike Schenk on Big Disruptions Magnify and Accelerate Change
    3:30 p.m. to 4:30 p.m. - Panel Discussion, moderated by Kevin Chiappetta, CFA, President of QuantyPhi, panelists and description coming soon

    Learn More and Register Online

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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