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March 2021

    A Note from Chris

    Save the date! The 40th annual membership meeting of Corporate Central Credit Union will be held via video conference on Thursday, May 6, 2021 @ 9:30 a.m. CT. More information will be forthcoming including how to register a delegate for your credit union. We look forward to sharing the successes of Corporate Central in what was an otherwise challenging year for so many. We hope you will join us.

    Chris Felton's signature

    Chris Felton

    What’s Trending?

    Are you interested in how tech is shaping the future of finance?

    Technology and finance always have been intertwined, from the invention of the abacus to make financial calculations easier to the mammoth supercomputers that are used to drive complex financial models today. The fintech industry was born out of that merger, and now most financial activity is carried out on mobile phones, enabling more people to have access to financial services. Apart from increasing access, technology has also driven a variety of drastic changes to financial systems around the world and in some cases, upturning entire sectors as in the case of mobile investment apps and stockbrokers. However, the fintech revolution is continuous. Check out this article about some of the most pivotal trends which will shape the future of finance, driven by savvy entrepreneurs.

    Read the Article

    Technology Solutions

    Why credit unions should move their phone systems to the cloud.

    Deploying an enterprise-grade VoIP cloud solution now affords credit unions an experience with an innovative approach to maintaining a high-performance contact center that promotes fast issue resolution, a multi-skilled workforce, and a commitment to data driven results. Additionally, VoIP solutions deploy best-in-class data security protocols, mitigating cybersecurity risks while meeting FFIEC regulations and standards for NCUA Certification. Working with Emergifi, credit unions can modernize old phone systems and take them to the cloud to improve efficiency, and better meet member needs without disruption at any time.

    Contact Emergifi Today

    Employee Benefit and Insurance Resources

    Why well-being matters.

    The dictionary says that well-being is the state of being or doing well in life, such as being happy, healthy, and prosperous, along with physical welfare of oneself or community. It is important to have good well-being, especially as it affects our overall health, allowing us to overcome adversity and achieve our life’s goals and ambitions. Everything we do and every emotion expressed relates to our general well-being, such that creating optimal wellness is critical to reducing stress, ill health, negative emotions, and creating fulfillment through positive experiences.

    Essential to one’s overall well-being is simply feeling healthy and full of energy and, in turn, each of us plays an important role in society’s overall well-being, especially during these challenging days. To measure individual and societal well-being, there are eight recognized and measurable dimensions or aspects of wellness, each interrelated with one another.

    • Occupational wellness relates to enjoying your occupational endeavors and appreciating your contributions to achieve personal satisfaction and enrichment in one’s life through work.
    • Emotional wellness relates to understanding your feelings and coping effectively with stress. 
    • Spiritual wellness allows you to develop a set of values that help you seek meaning and purpose. 
    • Environmental wellness encourages you to respect the delicate balance between the environment and yourself. 
    • Financial wellness involves the process of learning how to successfully manage financial expenses. Money plays a critical role in our lives and not having enough of it impacts health as well as academic performance. Financial stress is repeatedly found to be a common source of stress and anxiety.
    • Physical wellness relates to maintaining a healthy body and seeking care when needed. 
    • Social wellness helps you perform social roles effectively and comfortably to create a support network. 
    • Intellectual wellness involves having an open mind when you encounter new ideas and continuing to expand your knowledge, which encourages active participation in scholastic, cultural, and community activities.

    At InterLutions, and through our exclusive credit union healthcare benefits program I-Care, we recognize the value of good health practices and improving the well-being of credit union employees. I-Care promotes wellness programs and provides enhanced healthcare benefits at collaboratively negotiated lower costs. To learn more about how I-Care can help your credit union and your employees, please visit us our I-Care webpage, call us at (414) 433-0174, or email us.

    Financial Services Consulting

    We still have a long road in front of us to recover from the pandemic.

    If you have been looking for a sign that we have not “returned to normal” yet, it was found in New Orleans on February 16. Mardi Gras day came and went with no crowds, no parades, and for the first time ever, no bars open for business.

    QuantyPhi analysts were working overtime last month helping members make sense of a puzzling bond market. The high liquidity levels combined with a barren investment landscape generated some unusual relationships. Mortgage-backed bonds were a main focus as high demand by investors fueled by excess liquidity combined with the continued multi-billion Federal reserve purchases draining supply to send spreads lower. Throw in the accelerated prepayment activity the market has been experiencing and the value proposition for mortgage paper lost its shine. A mid-month “yield rally” in the intermediate and long end of the Treasury curve came to the rescue sending mortgage spreads ten basis points wider in the course of a few trading sessions. Losing this sector as a viable investment option would be bleak given the barren landscape already out there. We will continue to monitor the landscape.

    The QuantyPhi monthly webinar in February was The LIBOR CESSATION presented by Dace Bregantini. Dace spoke about the planned elimination of LIBOR and what index is likely to replace it. If you missed it reach out to your financial strategist who can get you access to the recorded webinar and share our thoughts. This is a “clipboard item” for the examiners so make sure you are prepared to discuss it with them during your next exam.

    Request the Recorded Webinar

    Did You Know?

    Gen Z is defining digital banking and FinTech is listening.

    Gen Zers are the true digital natives. From streaming to sharing, those between the ages 18 to 24 expect seamless connectivity — and their finances are no exception. The banking industry has shifted servicing dramatically from its beginnings as a brick-and-mortar stalwart to become far more digitally flexible. As one of many pandemic impacts, having a choice for complete online banking is an ageless expectation, however for Gen Z it has become a table stake.

    Read More

    Credit Unions Connect

    Stories that exemplify the movement

    Spreading kindness on Random Acts of Kindness Day.

    First Nebraska Credit Union Facebook Post

    First Nebraska Credit Union surprised members of their select employee groups with gift cards and goodies on February 18 which is Random Acts of Kindness Day. The credit union sent a representative to personally present the gifts and thank the businesses for supporting the credit union.

    Using a day off for a day of service.

    Frankenmuth Credit Union Facebook Post

    While Frankenmuth Credit Union was closed on Presidents’ Day, some of their staff chose to use the day off as a day of service. Team members volunteered at local shelters and soup kitchens located in Saginaw, Flint, Bay City, and Midland, MI. Pictured below are staff volunteering to clean and remodel Midland’s Open Door, a crisis shelter and soup kitchen.

    Read More Credit Union Stories

    What’s New and Who’s Who

    Emergifi has welcomed two new Business Development Executives to the team!

    Jeff Blair and Kevin Kelly have joined the Emergifi team as Business Development Executives. Jeff and Kevin will work with credit unions assessing their technology needs.

    Jeff Blair

    Jeff has over 25 years of experience working with credit unions. He started in the industry leading Summit Credit Union's marketing team and was also a member of the WI GAC while at Summit. He has experience working for CUNA Mutual Group as an Account Executive selling ALM software. He also spent nearly 18 years at TransUnion using data and analytics to help credit unions implement risk, fraud, and marketing solutions. Most recently, Jeff was Director of Sales with Intelemedia using predictive analytics to improve digital marketing programs. He earned his bachelor’s degree in Secondary Education from UW-Madison and an MBA from Edgewood College. Jeff recently moved to Estero, FL with his wife, Lisa. They have three adult children, Alex, Andrew, and Alyssa. In his spare time, he enjoys spending time with family and friends, outdoor activities, traveling, and going to the beach.

    Kevin Kelly

    Kevin has over 10 years of sales experience with managed service providers (MSP), cloud services, software as a service (SaaS), and healthcare tech ranging from SMB to enterprise level sales in the Northeast U.S. He earned his bachelor’s degree in Marketing from Temple University in Philadelphia, PA. Outside of work he enjoys spending time with his family, working out, watching sports, and collecting bourbon.

    Welcome to the team Jeff and Kevin!

    Read the Press Release

    Learn More About the Emergifi Team

Upcoming Events

Monthly Market Monitor

2/9/2022 3:30 PM - 2/9/2022 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.

A New Year, Time to Look Back

2/16/2022 2:00 PM - 2/16/2022 2:30 PM Central Time (CST) | Webinar

Join QuantyPhi for our 30-minute monthly webinar where we will review to see how decisions work, and how to properly review decisions after the fact.

Virtual Digital Marketing Forum 2022

Tuesday, March 8, 2022, All Day Central Time (CST) | Virtual

Corporate Central's Digital Marketing Forum will be held virtually on Tuesday, March 8 and Wednesday, March 9. The two-day forum will feature session topics including SEO, digital advertising, and social media marketing.

Monthly Market Monitor

3/9/2022 3:30 PM - 3/9/2022 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.

HDIC RDC Indemnity

4/19/2022 10:00 AM - 4/19/2022 11:00 AM Central Time (CST) | Webinar

Join Corporate Central and ECCHO for this 60-minute webinar where we will review the terms of being an HIDC and discuss how that legal status has consequences when RDC indemnity claims are resolved.

QuantyPhi's ALM Workshop 2022

5/25/2022 8:00 AM - 5/26/2022 3:00 PM Central Time (CST) | TBD

Save the dates for QuantyPhi's ALM Workshop, May 25 and 26, 2022.

Altered Checks and Regulation CC Presumption of Alteration

7/19/2022 10:00 AM - 7/19/2022 11:00 AM Central Time (CST) | Webinar

Join Corporate Central and ECCHO for this 60-minute webinar where we will discuss the UCC presentment warranty and Regulation CC’s Presumption of Alteration, what they mean, and how the presumption of alteration affects a depositary FI when it receives a claim from a paying FI that it was presented an altered check.

Economic Outlook Conference 2022

10/12/2022 9:00 AM - 10/12/2022 3:00 PM Central Time (CST) | TBD

Save the date for Corporate Central's Economic Outlook Conference, October 12, 2022.

Remotely Created Checks

10/18/2022 10:00 AM - 10/18/2022 11:00 AM Central Time (CST) | Webinar

Join Corporate Central and ECCHO for this 60-minute webinar where we will discuss the Remotely Created Check as defined in Regulation CC and the warranty a presenting FI makes that a Remotely Created Check is authorized by your account holder.

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