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May 2021

    A Note from Chris

    With a strong financial position, growing membership, and dedicated team to lead us, we cannot help but be excited about our future. We are in a desirable and unique position that points to the future and focuses on a long-term path to provide credit unions with the innovative solutions they need for success. I am pleased to report that our 2020 Annual Report has been published to the Due Diligence section of our website. Please check it out and contact us if you have any questions. Helping you succeed is what drives us at Corporate Central.

    As a reminder, we will be live streaming Corporate Central’s 40th Annual Meeting on Thursday, May 6 at 9:30 a.m. CT. Instructions for viewing the live stream will be emailed to all members prior to the meeting. Although live streaming does not provide for our preferred interaction, we do encourage you to tune in and hear about everything your corporate is doing to help your credit union. 

    We are proud to serve your credit union and grateful for your continued support. We also appreciate your feedback. Please be on the lookout in the coming weeks for our membership survey. More information can be found in the “Did You Know?” section below. Through a more formal feedback process, we look to provide greater value to our members so that you can better serve your members.


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    Chris Felton

    What’s Trending?

    The anatomy of a credit union data transformation playbook.

    A credit union’s mission is to serve its members. In the past, that was traditionally accomplished by personalized service delivered by loving branch talent. Today, credit unions have the opportunity to harness their data to create insights and make significant and impactful changes in their members’ lives. This opportunity is the catalyst to change.

    Read the Article

    Technology Solutions

    Does your credit union’s IT infrastructure meet necessary rules and regulations?

    While the NCUA does not require penetration testing, credit unions are required by NCUA's Rules and Regulations Part 748 to implement an information-security program and a vulnerability-management process. Emergifi provides IT services to meet these NCUA Rules and Regulations. Our services improve productivity and security and reduce costs. We help you understand the applications and benefits of the cloud and assess your organization’s cloud readiness. Emergifi performs necessary but time-consuming tasks like monitoring and managing your IT infrastructure and provides guidance on necessary IT related topics like vulnerabilities that arise in the market. Contact us for an evaluation of your credit union’s IT needs.

    Employee Benefit and Insurance Resources

    When it comes to healthcare insurance benefits, “one-size-fits-all” does not make sense.

    Credit unions come in many different sizes with different risk appetites, so they need employee benefits tailored to their specific business needs and budget. Purchasing health insurance is a big-ticket item and it is important to know that you have many options when it comes to funding your benefits plan. In these dynamic employment times, you know how important quality and affordable healthcare benefits are to attract and retain talented employees. Typically, small to mid-size credit unions purchase and provide health insurance that covers claims and related expenses using a fully insured model, while larger credit unions can optionally utilize a self-funded approach to better control the cost of claims. Depending on location, risk tolerance, broker capabilities, and carrier flexibility, credit unions can also explore hybrid options such as level funding, association health plans, and insurance captives.

    We invite you to explore all these funding options that our I-Care employee benefits program makes available to you. Please visit our website to review our latest whitepaper titled “Optimal Models to Fund Your Employee Benefits: The Pros & Cons of Five Options” or contact us.

    Financial Services Consulting

    Does your credit union have a plan and the ability to monitor and manage your interest rate risk?

    Spirits climbed in the bond market as spring brought warmer temperatures and calmer nerves. The inflation fears that helped push rates higher in the first three months of the year showed signs of abating in April. Several supply chain breakdowns led by a copper shortage had market commentary abuzz with inflation jitters. Anticipation of an economic surge coming on the heels of national vaccinations and a reopening of the economy generated fears of inflation jumping past 3.0% and climbing from there. Yields on the ten-year Treasury steadily climbed from 0.92% at year end to reach 1.74% on March 31.

    Ironically, it may have been the release of higher-than-expected producer and consumer inflation numbers in April that calmed fears. PPI saw a 4.2% year over year core rate while CPI came in at 2.6% year over year. The realization that the base numbers that will be used to measure inflation increases will be from the beginning of the pandemic, which effectively brought the economy to a halt last year. Understanding that this base will likely be the chief culprit behind some higher inflation numbers in the foreseeable future took some of the fear out of the equation. Comments by Fed Chairman Powell that the Fed was not concerned about inflation and expected any spike to be temporary in nature further calmed nerves. Yields in the ten-year have drifted lower in April falling twenty basis points from the highs.

    As always, we will have to wait and see where inflation and, more importantly, interest rates go from here. Having a plan and the ability to monitor and manage your interest rate risk will always keep you ahead of the game. Fortunately, you have access to the crew in high school that rocked the pocket protectors and always had a protractor and compass handy. This is the stuff we thrive on and are ready to help. Give QuantyPhi a call at (414) 433-0176.

    Did You Know?

    Corporate Central’s 2021 membership survey will kick-off soon.

    Member feedback is a key component in our commitment to providing quality service, solutions, and value to our members. Knowing how we are doing and what services our members desire helps drive our improvements and future initiatives. We encourage member leaders to take this opportunity to tell us what we are doing well, where we can improve, and how we can make our partnership with your credit union more rewarding than it is today. The survey will take between five and ten minutes to complete, and feedback will be analyzed to further improve the solutions we provide and the level of service we offer. Be on the lookout for a message from Corporate Central sometime in May with a link to the survey.

    Credit Unions Connect

    Stories that exemplify the movement

    Connexus Credit Union makes a big donation to support nonprofits.

    Connexus credit union with check for Community Partners Campus

    Connexus Credit Union donated $1 million to the newly created Community Partners Campus (CPC) in Wausau, WI. CPC plans to offer below-market rent and services for local, tax-exempt organizations. CPC hopes that, “by helping other nonprofits, they will be able to build a community in which charitable, educational, medical, and social services can be more efficiently administered to local individuals and families in need.” The credit union stated, “We couldn't be more honored to support CPC, a newly-formed non-profit center offering collaborative, shared spaces for local organizations providing food, shelter, medical care, and mental health services to those in need.”

    Kohler Credit Union celebrates Earth Day by volunteering in the community.

    Kohler Credit Union employees working outside

    Kohler Credit Union team members honored Earth Day by volunteering at Glacial Lakes Conservancy. The team picked up trash and helped pull invasive buckthorn plants. Additionally, team members volunteered with Grow It Forward Community Food Center. They helped build and fill garden beds that are grown to support neighbors in the Manitowoc, WI community.

    Read More Credit Union Stories

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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