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    September 2017

    A Note From Chris

    As fall begins, we all start preparing our budgets and strategic planning sessions to ensure a successful 2018. Our flagship event, the annual Economic Outlook Conference, arrives just in time for credit unions’ budget and planning preparations. Attendees will bring back to their credit unions valuable information on the current and upcoming economic environment from this year’s diverse speaker lineup. I hope to see all of you there!

    It was a pleasure to attend this year’s “Hike the Hill” event in Washington D.C. It is a testament to the strength and passion of the movement when so many credit union leaders head to D.C. to connect with legislators and advocate on behalf of all our credit union members at the national level. If you have never attended a Hike the Hill event, I strongly encourage you to do so. The Wisconsin Credit Union League did an amazing job putting on the event for Wisconsin credit unions. The Credit Union House on Capitol Hill was a perfect forum to engage with representatives, and it provides a very special and unique advocacy opportunity for everyone. Your voice matters. Thank you, Wisconsin Credit Union League – job well done!

    Chris Felton
    President/CEO

    What's New & Who's Who

    Congratulations to Shannon Cate who celebrated her third anniversary with Corporate Central this month. Shannon is a Member Services Representative with a passion for credit unions.

    Fred was a guest speaker at The League’s Compliance Roundtable on September 14 in Pewaukee. Fred is Corporate Central’s Project & Compliance Risk Manager.

    On August 30, Nick Fanning, Corporate Central’s SVP/Chief Financial Officer, served as a panelist during a discussion at the National Association of State Credit Union Supervisors (NASCUS) Summit 2017.

    Our Family of CUSOs

    Our CUSO offering custom-built credit union technology solutions is here! Emergifi provides credit union technology solutions that improve productivity and security, while reducing cost and risk. Given the incredible pace at which technology is changing, credit unions are challenged to do business faster, smarter and more efficiently – or risk getting left behind. As a result, cloud computing is rapidly becoming a primary driver of business transformation, giving credit unions a way to differentiate, disrupt and gain share in the market. Our managed, cloud-based approach offloads low value utility services and focuses your resources on high value initiatives.

    Check out our new website to learn about our technology product and service offerings, and see the press release highlighting the launch of this innovative technology CUSO.

    InterLutions is ecstatic about the success our members are experiencing through the new and innovative revenue enhancement solution, CU-Save.

    CU-Save identifies previously undiscovered opportunities for growth and savings. The service helps credit unions align expenses with appropriate benchmarks and fosters quality, long-term supplier partnerships. By offering unique benchmarking analysis from industry experts, CU-Save helps credit unions negotiate competitive and value-added contracts.

    “CU-Save helped our credit union negotiate contracts for our plastic cards and we were extremely happy with the results,” said Lisa Gilligan, President/CEO of N.E.W. Credit Union. “They were very professional to work with, little work was required on our part, and they helped find places to improve our bottom line. We will definitely utilize them for future contract negotiations.”

    “I can trust that nothing will fall through the cracks,” said Kurt Johnson, CFO of Educators Credit Union. “Their track record for following through with the plan, both on time and on the money, is unquestionable.”

    There’s still time to join the QuantyPhi team at CentralAlliance Credit Union on Wednesday, October 4 for a Strategic ALM Workshop.

    Despite three Fed rate hikes, the future path of interest rates remains uncertain. Will the economy stumble in a higher rate environment forcing a reverse course or will the Fed have room to continue pushing fed funds higher?

    As is always the case, the odds of successfully forecasting interest rates are no better than a coin flip. A solid ALM process remains critical to your credit union’s success. This workshop highlights best practices in the ALM arena.

    The program is designed for CEO’s, CFO’s, ALCO members and financial management staff involved in actively managing the balance sheet. The session lays the foundation for developing an understanding of interest rate risk and key interest rate risk measurements. The afternoon agenda is designed for those directly responsible for monitoring and managing the credit union’s interest rate risk. Focus is on aligning investment analysis with balance sheet rate risk position.

    Register for this valuable conference now!

    Credit Unions Connect
    Stories that Exemplify the Movement

    DuPage Credit Union Relay for Life Team Raises over $8,400
    Members of the DuPage Credit Union team and their families took part in the American Cancer Society’s annual I-88 Corporate Relay for Life August 18 in Lisle; raising $8,465 in donations.

    Throughout the year, DuPage Credit Union raised funds through personal fundraising efforts and the sales of luminaire, candy and pastries. DuPage Credit Union Members contributed by donating their Visa Credit Card Rewards Points and making monetary donations.

    WESTconsin Credit Union Helps with Hurricane Relief Efforts
    WESTconsin Credit Union in Menomonie, WI is helping with Hurricane Harvey relief efforts. These boxes were STUFFED FULL. Items were donated by WESTconsin Credit Union employees and sent to the victims of Hurricane Harvey. Items will be distributed by Cornerstone Credit Union League—thank you! The total weight of the items sent to Texas was 384 lbs. WOW!

    A Great Read

    A Whitepaper Provided by our Partners at Ncontracts

    Uncovering Unknowns
    Financial institutions aren’t just responsible for their own business continuity plans—they must also ensure that critical vendors have properly drafted, executed and tested plans. This requires that institutions recognize the connection between vendor management and business continuity. By uniting the efforts of these two teams, institutions can develop better approaches to risk assessment, due diligence, contracts and monitoring resulting in more efficient operations and a stronger business continuity plan.

    FUNdraising

    And They're Off!
    The 2017 Corporate Central Summer Olympics have kicked off. The team has been keeping busy with events happening every week ranging from a puzzle challenge to creating their own mini golf course.

    The primary goal of Corporate Central’s Summer Olympics is to raise money for Special Olympics of Wisconsin.

    Did You Know?

    QuantyPhi’s A/L model validation solution reviews six important areas of Interest Rate Management (IRR).  Observing the Asset Liability model input, assumptions and output, we will document the process of IRR measurement, suggest any changes to the process necessary and review relevant policies related to IRR measurement and management.  Email us at sales@quantyphi.com or visit our website at quantyphi.com for more information.

    International Credit Union Day

    To support International Credit Union (ICU) Day on October 19, Corporate Central invites you to share a video that thanks employees and volunteers for all their contributions to the credit union movement.

Upcoming Events

How to Effectively Shop Your Bond & Insurance

Tuesday, February 20, 2018 11:00 AM - 11:45 AM Central Time (CST)

InterLutions, through its inSure - Risk Solutions program, will host a FREE educational webinar about successfully managing your credit union’s bond and insurance plans. Given the challenges credit unions face in this low interest rate environment, the need to examine operating expenses is more important than ever. Join us for this webinar to learn three simple, yet impactful, ideas that any credit union can easily adopt to significantly lower your bond and insurance costs. No cost to attend.

Security Summit

Wednesday, February 21, 2018 8:30 AM - 4:00 PM Central Time (CST)

Protect Your Members. Protect Your Credit Union.
Hacking, skimming, cyberattacks, fraud, embezzlement, these and a host of other security issues are making headlines daily. Members want to know how their credit union is securing their data and credit unions are endeavoring to mitigate risk and keep up on the ever-shifting landscape.

Join The League’s first Security Summit to explore this critical issue and get action steps for your credit union.

Effective ALM Benchmarking

Wednesday, February 21, 2018 12:00 PM - 12:30 PM Central Time (CST)

Information gained from benchmarking allows credit unions to determine how efficient their investment decision-making is relative to the amount of risk they are occurring. Benchmarking is an ongoing process in which credit unions continuously seek the improvement of their balance sheet performance.

Proper ALM benchmarking can assist CEOs, CFOs and other credit union leaders to define the optimal strategy for their credit union. This enables them to identify where the investment decisions lead, lag or remain at par with other portfolio selections. In addition, benchmarking provides the basis by which the credit unions can articulate key investment options, helping to identify what types of securities belong in their portfolios.

Join the QuantyPhi team for a 30-minute educational webinar about the effective use of ALM Benchmarking. No cost to attend.

E Is For Exposure: Appendix E & Controlling Mobile Services Risk

Tuesday, February 27, 2018 1:00 PM - 1:45 PM Central Time (CST)

Financial institutions don’t have complete control of the mobile channel. App developers, mobile network operators, device manufacturers, specialized security firms and other nonfinancial third-party service providers all play a role – making risk management critical.

This workshop will guide you through the FFIEC’s Appendix E: Mobile Financial Services to help you:

  • Recognize the role third-party providers play in mobile financial services
  • Devise strategies to identify, measure and mitigate the risks presented by the mobile channel
  • Discover the role contracts play in mitigating third-party risk
  • Address compliance and reputation risk
  • Understand the importance of the board and management in enterprise-wide risk management

Join us as we delve into Appendix E to find ways to improve management of third-party mobile risks in this workshop.

No cost to attend.

Ramping Up Your Student Loan Program

Tuesday, March 6, 2018 11:00 AM - 11:30 AM Central Time (CST)

This webinar will review the Smart Option Student Loan Referral Program. We will review the program guidelines as well as the best marketing practices for the upcoming peak season. No fee to attend.

Protecting Your ATMs and Cardholders from Criminal Attacks

Wednesday, March 14, 2018 1:00 PM - 2:00 PM Central Time (CST)

It’s Time to Rethink Your ATM Security Strategy!

As security breaches and threats increase in frequency and sophistication, it’s imperative to be aware of how ATM security has changed and reevaluate your current security strategy. Attendees will learn changes, trends and challenges in criminal ATM attack techniques impacting security operations.

  • Examples of different types of ATM fraud including card skimming, deep insert skimmers, periscope skimmers, shimming devices and the different methods criminals use for card entrapment
  • The role newer EMV chip cards play in ATM security
  • How to help your members identify an ATM that may have been tampered with by criminals
  • New technology solutions to combat ATM skimming, shimming and cash traps.

With skimming on the rise, it’s up to you to stay one step ahead of the criminals! Join David Krzic, AVP, ATM Product Manager, Elan Financial Services and Michael Negley, National Account Manager, Cennox to learn more. No cost to attend.

Current ALM Policies and Procedures

Wednesday, March 21, 2018 12:00 PM - 12:30 PM Central Time (CST)

Policies and procedures are a certainty in the financial institution industry. Federally Insured Credit Unions (FICU) are required by the NCUA to develop and incorporate interest rate risk polices in conjunction with their existing procedures. Credit unions that practice the most current policies and procedures gain a competitive advantage in the industry.

Developing IRR policies is not an easy task. It requires all levels of the credit union to be involved. The board of directors, senior level management, and all other employees play a crucial role in executing these policies. Proper policies and procedures will allow your credit union to develop proper risk measurement methods that will capture and identify interest rate risk. The end goal is for your ALM policies and procedures to lead your credit union’s decision making. The challenge is to make sure your decision making is in line with your risk results.

Join the QuantiPhi team for a 30-minute educational webinar about the importance of a Policy Review, and how it can improve your credit union.

No cost to attend.

Our Family of CUSOs

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Corporate Central Credit Union
6262 South Lowell Place, Muskego, WI 53150
Phone: (800) 242-4747 | Fax: (414) 427-3700
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