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    November 2020

    A Note From Chris

    As we approach the time of year to reflect and acknowledge all that we are grateful for, we are reminded of how thankful we are for you, our members. We sincerely appreciate your partnership and support, and we honor our mutual trust and desire to achieve long-term success together. Thank you!

    It was nice to see so many participants at our virtual Economic Outlook Conference. Thank you to our expert speakers for their time, insights, and advice. We strive to provide quality educational offerings surrounding relevant topics and aim to deliver engaging events. As we plan for 2021, we are focused on new and exciting ways to bring credit union executives together to learn and exchange valuable information that will help credit unions prosper. Educating and providing you easy access to industry expertise is a high priority at Corporate Central. Please provide us with any recommendations on educational topics and your specific needs. We have a diverse group of credit union experts here at Corporate Central and can deliver presentations based on asset/liability management, digital transformation, risk management, economic and financial trends, employee benefit strategies, and more.

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    Chris Felton

    What’s Trending?

    There are three big digital marketing mistakes being made by financial institutions in 2020.

    To take full advantage of everything digital marketing has to offer, banks and credit unions should carefully consider how to be proactive versus reactive. Research demonstrates that many financial institutions may be missing out on the low-hanging fruit that today’s technology offers. Since the onset of COVID-19, there has been a universal experience: the need to use technology to protect our health, whether it is to enable remote work or to facilitate non-contact services. For financial organizations, this period has signified a tremendous shift from bricks-and-mortar services to digital platforms, creating a push-pull that demanded quick adoption of new tools: The push of needing to remain open and functional without in-person presence, and the pull of members who need to connect with their accounts and bank personnel.

    Read the Article

    QuantyPhi Helps Make ALCO More FUN

    The first of four ALCO fun videos has been released.

    Over the next four months, QuantyPhi will run a series of four ALCO fun videos highlighting some of the services they offer to credit unions. The series injects a little humor into the serious business of balance sheet optimization. The first video focuses on the CUSO’s flagship benchmarking product. QuantyPhi helps credit unions create performance targets specific to their unique goals and helps develop portfolio strategies that provide optimum levels of return with a given level of IRR. QuantyPhi’s performance optimization experts use high-powered technology that can analyze changing market data quickly, run “what-if” scenarios, and generate reports that help set appropriate, achievable benchmarks.

    Watch the Video

    Technology Solutions

    Not everything you hear about the cloud is true. Get the straight facts about cloud migrations.

    Your credit union’s security practices matter, and the safety of your members’ information is vital. Maintaining a strong, secure, cloud document management system will help your credit union thrive in the digital age. However, there are still individuals who fear the cloud, or do not trust that it is the right move. Emergifi set out to find some insightful information to share with anyone who is considering a digital transformation and cloud migration.

    Read the Article

    Employee Benefit and Insurance Resources

    Are you aware of the different options I-Care offers for employee benefits?

    Did you almost fall off your seat when you received your health insurance quote for next year? Do you feel like you are just hanging on to the insurance carrier merry-go-round year after year? At I-Care, we can help.

    I-Care has quickly become the credit union industry’s preferred employee benefits program. Created by credit unions for credit unions, we know how important it is to have choices when selecting the best benefits for your employees and your HR department. We do not just rubber-stamp and place you in a one-size-fits-all solution. Rather, we will provide you with health insurance options tailored to fit your coverage needs at more than competitive rates.

    Perhaps Terri Green, VP of HR at Fox Communities Credit Union summed it all up when she said, “flexibility of plan design, along with the potential for significant cost savings, made I-Care the best employee benefits option for us.”

    Learn More

    Since healthcare benefits are usually the second largest expense item on your balance sheet, it only makes sense that you can select from an array of providers and choose only the specific services that best fit your unique employee pool. Our experts will carefully review your coverage needs and provide customized solutions and quotes to fit your budget.

    Through our exhaustive data analytics research, we have discovered that credit union employees are 23% healthier based on claims made on a per-employee per-year basis when compared to all other industries. Armed with that knowledge, we have collaboratively worked with benefit carriers across the country to further provide enhanced features like telehealth mobile apps, direct access to certified HR professionals, online training courses, personalized one-on-one enrollments, and detailed claims reporting, all at reduced cooperative pricing.

    Interested credit unions can visit us at InterLutionsCUSO.com or call (414) 433-0174 for more information.

    Financial Services Consulting

    October slipped in and out without delivering us back to “normal.”

    Credit unions’ balance sheets remain flush with liquidity. Loan growth has shown some signs of life driven by members refinancing mortgage loans while some members have seen increased auto loan activity. Unfortunately, refinancing trends have also contributed to principal paydowns in mortgage portfolios. The newest challenge introducing itself is how to address the inflated balance sheets and make reasonable projections for the 2021 budget. The budgeting process is never easy, but throw in the COVID-19 economic backdrop, a polarizing presidential election, and another possible round of a multi-trillion-dollar stimulus package, and the difficulty goes up a couple notches.

    By now you know that QuantyPhi believes strongly in planning ahead. A solid budgeting process is a major contributor to building an ALM model that can provide results you can confidently use to navigate your way through these uncertain times. You can make strategic decisions with confidence knowing the results if the economic backdrop remains the same and understanding the consequences if it zigs or zags.

    We have seen a high level of inquiry about our thoughts on the future, especially as members have begun the dive into the budget process. We are always happy to share our thoughts; however, we believe it might prove beneficial for everyone if we gather the collective wisdom of you, our members. We created a brief survey addressing interest rates, share growth, and loan growth across product lines. Please take two-minutes of your time to take the survey. Reponses will be anonymous with aggregated results provided to all members.

    Take the Survey

    Did You Know?

    How the 2020 election will impact 2021 payments strategies.
    By: Myron Schwarcz, Executive Vice President at Strategic Resource Management (SRM)

    Let’s begin by stating the obvious: this will not be a normal election season. As it has for so many aspects of everyday life, COVID has radically altered the basics of voting – from a huge uptick in advance and absentee ballots to the near-elimination of traditional campaign rallies.

    We know that markets hate uncertainty – and that’s one thing in ample supply these days. Uncertainty creates hesitancy to invest in initiatives that could be upended based on the election outcome. This is especially problematic in our current environment, with so many critical issues clamoring to be addressed.

    While attempting to avoid the partisan fault lines, let’s consider how November’s election results could alter the payments landscape for banks and credit unions in 2021 and beyond.

    Read the Article

    Credit Unions Connect
    Stories that exemplify the movement

    The house that credit unions built.

    The house that credit unions built

    On October 15, International Credit Union Day, University Federal Credit Union in Austin, TX, along with six other area credit unions, devoted time to constructing a house with Austin Habitat for Humanity. These efforts embody the “people helping people” philosophy. The home is described as, “The house that credit unions built.”

    Credit unions band together for a wonderful cause.

    Credit unions Stock the Shelves to fight hunger

    On October 17, credit unions in the Greater Fox Cities area donated their time and resources to “Stock the Shelves” for local food pantries. Staff from 16 area credit unions collected non-perishable food items and monetary donations for the effort. In total, all the donations received from the Greater Fox Cities Chapter of Credit Unions in partnership with Feeding America, raised 20,149 meals for families who may have had none otherwise.

    Read More Credit Union Stories

    What’s New and Who’s Who

    Corporate Central has welcomed Sierra Randall as a Member Services Representative.

    Sierra Randall

    We are very excited to welcome Sierra as our newest Member Services Representative! Her bright personality and previous credit union experience – both personally and professionally – make her a great asset. Sierra graduated from Rufus King High School and has worked towards her Liberal Arts degree at MATC in Milwaukee, WI. Outside of work, Sierra enjoys spending time with her family and friends, shopping, reading, and listening to music and seeing live bands.

    Read the Press Release

    Learn More About Our Team

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.

Success with the Three Lines of Defense: How to build a compliance and risk management dream team

3/25/2021 2:00 PM - 3/25/2021 3:00 PM Central Time (CST) | Webinar

In this webinar Ncontracts will highlight the top challenges, complaints, and worries they are hearing about from banks, mortgage companies, and credit unions like yours – and what to do about it.

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.


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.

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