CrossState Daily…5/17/2024

CrossState Connect Begins on Sunday

It’s time to start packing and planning your trip to sunny Atlantic City, NJ, for CrossState Connect Annual Convention! Another year of Connect filled with first-rate education sessions, plenty of opportunities to grow your network, and innovative solutions are about to take center stage.

What are you most excited about? Our keynote speakers, Molly Fletcher and Alton Fitzgerald White? The Foundation Luncheon and Awards Night? How about the Learning Labs? Whatever it is, we are excited to have you join us for three days of networking, learning, and celebration!

The 2024 CrossState Connect app is ready for you to download! Stay connected and organized for the event and check out the app before packing your bags.

Compliance Conference Early Bird Prices End Tonight

Calling all compliance professionals! The CrossState Compliance Conference is back for another year for all things compliance. Join fellow Compliance experts on June 26 at the Crowne Plaza in Harrisburg, PA. The all-day event is tailored for compliance professionals and features a lineup of expert leaders in their field.

Topics to be covered include current trends, serving non-citizens, NCUA’s compliance priorities, decedent accounts, compliance in marketing, payments fraud, and more.

Lodging is also available for June 25 at the Crowne Plaza. We hope you can join us on June 26 for a packed day of networking and learning. Early Bird Pricing ends tonight at midnight!

CrossState, Credit Unions: Leading the Charge Against Elder Financial Exploitation

CrossState, along with multiple agencies, including the Consumer Financial Protection Bureau (CFPB) and National Credit Union Administration (NCUA) have encouraged credit unions to permit members to add a Trusted Contact Person to their account. This additional layer of defense can significantly mitigate the risk of financial fraud for elderly and vulnerable members.

CrossState InfoSight offers a comprehensive Trusted Contact Person Toolkit to help credit unions combat elder financial exploitation. The Toolkit contains:

Trusted Contact Information and Authorization Form
Model policy
Model procedures
Model script
Frequently asked questions

Connect 2024 Spotlight: Transform Your Credit Union with TruStage™ Digital Storefront

Are you ready to transform your credit union’s digital landscape and meet the needs of the next generation of members? Say hello to TruStage™ Digital Storefront – your trusted credit union partner in driving growth, maximizing member satisfaction, and effortlessly boosting online adoption while empowering staff.

Seamless Deposits: Open CDs, money market, savings, and checking accounts in minutes – hassle-free and without back-office delays.
Efficient Loan Growth: Personalized loan offers based on core and credit bureau data ensure maximum conversion rates, all in a fully digital fashion. Say goodbye to branch visits and call center queues.
Protect Members, Increase Income: Seamlessly integrate insurance and financial services products into your offers, providing essential protection for your members and boosting non-interest income.
Operational Efficiency: Say goodbye to manual processing! The Digital Storefront e-commerce model saves valuable staff resources and costs, streamlining operations for a smoother experience.
$60 Million in Loans Funded Daily: Join the ranks of successful credit unions leveraging TruStage™ Digital Storefront to drive growth and innovation.

Ready to unlock the full potential of your credit union? Click here for more information and discover how TruStage™ Digital Storefront can transform your credit union into a powerhouse of modern banking excellence!

Regulatory News

Rescheduling of Cannabis to Schedule III Moves Forward

The Whitehouse announced Thursday it will be moving forward with the rescheduling of cannabis to Schedule III, as a lower-risk substance. The proposed changes would amount to significant changes to federal marijuana law. There will be a 60-day open comment period.

Statement by CFPB Director Rohit Chopra on the Financial Stability Oversight Council’s Nonbank Mortgage Company Report

“For most households, the family home is their most important asset. A safe and stable mortgage market that provides affordable credit and reliable servicing to households is critical for our economy. When policymakers fail to safeguard this market, the American dream becomes a nightmare.”

Newsmakers

Belco Community Credit Union Awards $5,000 in Scholarships

Belco Community Credit Union recently announced the winners of their 2024 Elton “Miller” Peterman Scholarship program for high school seniors and those continuing their college education.