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June 2021

    A Note from Chris

    First, I would like to say thank you to all of you that attended our second (and hopefully last!) virtual Annual Meeting. We are very eager to see all of you in person and I am optimistic that those opportunities are drawing closer. Thank you for everything you do to support and advance our movement. A special thanks goes to The Wisconsin Credit Union League for being a wonderful host for our Annual Meeting and tremendous partner year-round.

    With Memorial Day marking the unofficial start of summer I hope you were able to find a way to honor the brave men and women who have given the highest sacrifice for our freedom. Without their heroic commitment and actions, we would not be able to enjoy the many freedoms we have today. I also sincerely hope that you, your loved ones, and your colleagues are well, and you can enjoy a safe and fun-filled summer season.


    Chris Felton's signature

    Chris Felton

    What’s Trending?

    Bitcoin is coming to hundreds of U.S. banks this year, says crypto custody firm NYDIG.

    Bitcoin may be taking another step toward mainstream adoption. For the first time, customers of some U.S. banks will soon be able to buy, hold, and sell bitcoin through their existing accounts, according to crypto custody firm NYDIG. Hundreds of banks are already enrolled in the program, according to Patrick Sells, head of bank solutions at NYDIG. While the firm is in discussions with some of the biggest U.S. banks, many of the lenders that have agreed to participate are smaller institutions like SuncRrest, a California-based community bank with seven branches.

    Read the Article

    Technology Solutions

    How often do you think about the IT situation at your credit union?

    A great day at work happens when you do not have to think about technology. Phone systems, firewalls, hardware, software updates, maintenance, data storage, and cybersecurity are topics that are of great importance to the success and operation of your credit union. Let us help you and your staff proactively evaluate your current IT situation with a complimentary technology review. Contact us for details.

    Employee Benefit Resources

    Does your credit union’s health insurance plan still fit the needs of your employees?

    It is mid-year and summer is already upon us. As the second half of 2021 looms, credit unions should begin taking stock of their employee healthcare benefits plan. A lot has changed over the past year and we need to understand if our current health insurance plan still fits the needs of our employees, as well as our budget. Insurance policies and coverage requirements are constantly changing, so performing an annual review, sooner than later, will give you peace of mind and should be a mainstay of your routine due diligence.

    What should you do next?

    Contact InterLutions to explore collaborative funding options and coverage enhancements to make your human resources department more efficient, productive, and informed, while improving the accessibility, education, and enrollment process for your employees. Your employees deserve the best plan options and competitive healthcare pricing, which is why I-Care was formed. We are now insuring nearly 10,000 lives and we can help you explore the universe of healthcare benefits and determine what best fits your coverage needs. Contact us to learn more and get your credit union on the path to a healthier future.

    Financial Services Consulting

    The future path of rates is anything but certain.

    The much-anticipated reopening of the U.S. economy ran into some roadblocks in May leaving the financial markets a bit befuddled. Yields remained in a fairly tight range as economists had to rethink expectations and extrapolate another path forward. As most states shed their mask mandates and removed limitations for businesses, the general anticipation was for a one-million-person addition to the non-farm payrolls to be announced in May. Instead, an increase of 266,000 was reported along with a downward revision of 146,000 for April. Reportedly, businesses were looking to add to their payrolls but were having trouble finding workers. The enhanced unemployment benefits may be the culprit at work here. The government and business need to find a solution while continuing to help those in need. Inflation remained in focus this month. Both producer and consumer prices were reported at 6.2% and 4.2% respectively (year over year). With inflation being the chief driver for interest rates, the numbers generated a great deal of discussion. Economists talked about the fact that the year over year numbers now have a base level from the beginning of the pandemic and accompanying economic shutdown last year. The Federal Reserve spoke of breakdowns in the supply chain that they consider temporary in nature with expectation of lower rates ahead. The stability of interest rates with this backdrop shows that market participants are still trying to figure it out. All this leaves us in the spot we always find ourselves. The future path of rates is anything but certain. Given the major impact their path will have on your balance sheet, net worth, and profitability, understand how each possible outcome will translate for your credit union. We are just a phone call away if you need help. Contact us at your convenience.

    Did You Know?

    The 2021 International Credit Union Day theme has been announced.

    On October 21, 2021, credit unions worldwide will celebrate International Credit Union Day (ICU Day). This annual event raises global awareness for the credit union movement through outreach, volunteering, fundraising, and other ICU Day-themed activities. Credit unions bring financial health and a promising future to people all over the world. Since the first celebration in 1948, ICU Day is a chance to spotlight and celebrate these achievements. This year’s theme is “building financial health for a brighter tomorrow.”

    Learn More

    Credit Unions Connect

    Stories that exemplify the movement

    Capital Credit Union gets creative to fight homelessness in Northeast Wisconsin.

    Capital Credit Union photo collage

    Throughout the month of May, Capital Credit Union raised funds for their shelter partners, Pillars, Inc. and St. John's Homeless Shelter. From car washes, overnight stays on the rooftop by leadership, raffles, and auctions, branches were creative in their fundraising efforts. The credit union has a goal of raising $30,000 for the shelters. Interested parties may contribute to the fundraiser through June 5.

    Collins Community Credit Union crashes the classroom to show teachers appreciation.

    Collins Community Credit Union photo collage

    In honor of Teacher Appreciation Week, Collins Community Credit Union team members visited Washington High School in Cedar Rapids, IA to hand out 150 Starbucks gift cards to teachers. The credit union expressed their gratitude saying, “Thank you to WHS, and all teachers, for everything you do! Because of you, kids in our communities are able to thrive and reach their full potential.”

    Read More Credit Union Stories

    What’s New and Who’s Who

    Corporate Central welcomes ALM & Investment Analyst, Lynda Vice.

    Lynda Vice

    We are happy to announce, and welcome, Lynda Vice to our team. Lynda’s primary role is to perform balance sheet analysis for current and potential members. She helps manage investment accounting programs and provides support and consulting to member credit unions on the ALM programs. Lynda spent the last ten years of her career working as a Controller at a community bank in Alaska. She attended both the University of Alaska and University of Phoenix, graduating with a bachelor’s degree in Accounting. In her free time, she likes to hike, bake, craft, and spend time with her Labrador. She also enjoys spending quality time with her husband, doing yard work, and exploring the lakes and trails Wisconsin has to offer.

    Adilet Momunaliev joined our team as a Software Engineer.

    Adilet Momunaliev

    We are also excited to welcome and introduce Adilet Momunaliev to the Corporate Central team! Adilet is our newest Software Engineer. Adilet will help create, code, test, debug, maintain, and troubleshoot complex applications to meet business requirements, and design and develop business intelligence systems and database systems. He will also design and maintain front-end user interfaces and provide support to end users to identify complex problems and recommend appropriate resolutions. Adilet has over three years of experience in software engineering. He earned his bachelor’s degree from the Kyrgyz National University, majoring in Computer Science and he received a Web and Mobile Development Certificate from Epicodus coding school based in Seattle, WA. He enjoys spending time with his wife and playing soccer with his son. He spends as much time as he possibly can with his son and hopes to teach him kindness and how to enjoy every day to its fullest. As a family, they enjoy exploring new hiking trails, visiting national parks, and walking by Washington Lake in Seattle, WA.

    Learn More About Our Team

Upcoming Events

Data Driven Strategies to Retain and Grow Member Relationships

12/7/2021 2:00 PM - 12/7/2021 2:45 PM Central Time (CST) | Webinar

Join our partners at SRM for this 45-minute webinar where we will answer this question with tangible, actionable data.

Monthly Market Monitor

12/8/2021 3:30 PM - 12/8/2021 4:00 PM Central Time (CST) | Webinar

The Monthly Market Monitor is a webinar geared toward credit union investment managers held on the second Wednesday of every month at 3:30 p.m. CT. It will provide up-to-date economic highlights, yield curve analysis, investment product recommendations, and outlook.

Are you smarter than an economist?

12/15/2021 2:00 PM - 12/15/2021 2:30 PM Central Time (CST) | Webinar

Join QuantyPhi for this 30-minute webinar to see how well you can predict major market indicators. If you are the predicting champion, you will claim the title and a prize.

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