| 8:45 a.m. – 9:45 a.m. Learning Labs |
Emerging Leaders Track: Financial Education at Your Credit Union
Financial education is the cornerstone of the Credit Union Movement. Credit Unions empower their members by providing a solid foundation and roadmap to financial success. Join the Emerging Leaders and a panel of CrossState members who will share their experiences with financial education tools – Certified Financial Counselors (FiCEP certification), Financial Reality Fairs and online engagement. We will also hear from members who won past Financial Literacy Awards from the CrossState Foundation.
Panelists: Karen Wood, Service 1st FCU, Christine Woods, TruMark Financial Credit Union, Sara Weiser, PSECU, and Erica Wennell, UECU.
This panel is moderated by our 2022 CU Ambassador Winner, Lisa Barshinger with First Capital FCU.
Real Estate Market – Effects on the Economy, Your Members, Legal Issues – Now What? Let’s Talk Risk Management
- Real Estate Market Current Trends and Future Insights
- Money Makers and Investments – Memberships, Charters, Loans
- What are growth options, applying what the Risk?
Speakers: Steven K. Eisenberg, Esquire, MBA – BIO: https://sterneisenberg.com/steven-k-eisenberg/
Oliver Ayon, Esquire – BIO: https://sterneisenberg.com/oliver-ayon/
Better navigate the economy with AI-automated underwriting
With high inflation and an uncertain economic climate, credit unions across the country are lent out and looking for smarter lending processes so that they can keep lending to their members when they face financial hardship. What does it take to ensure you’re there for your members when the hard times hit? And what do you want for your members when the economy is prosperous?
When credit unions use AI-automated underwriting, they lend better, no matter the economic outlook, with smart, efficient, and inclusive credit decisions. AI-automation is everywhere outside of the lending industry, removing inefficiencies and allowing people to live fuller lives. The financial services industry can’t be left behind. Now is the time to invest in your members’ financial well-being by making efficient and smart decisions that keep your credit union lending no matter the economic climate.
Speaker: Stephen Morse – Director, Credit Unions Zest AI Stephen has over two decades of experience in financial services, Fintech and Artificial Intelligence (AI) in both the US and globally. He has frequently worked within early stage, transformational, financial technology firms servicing banks, credit unions and other financial institutions. At Zest AI, Stephen is responsible for credit union relationships on the East Coast. Zest AI works with credit unions to help automate and transform their lending business, with AI powered underwriting. This enables credit unions to make smarter, more inclusive, more efficient loans for members. Zest AI won new CUSO of the Year in 2022, from NACUSO.
From Inflation to Recession
Last year was the year of the policy tightening. This year is the year where the lags kick in, and kick in hard. After a central bank has raised interest rates to the degree that it has, the probability of a recession is quite high. Adding fuel to the fire, 83% of global central banks are raising rates in order to quell inflation, exacerbating the growth slowdown. Thus, the stage is set for higher unemployment and slower growth with a high probability of a recession within the U.S.
This is also an environment where inflation pressures often come down. In fact, it appears that inflation has peaked for the cycle. Commodity, rent and home prices have all fallen. Meanwhile, transportation costs, the bogeyman that got the ball rolling on the inflation cycle, are now tumbling. Further, retail and wholesale inventories are up a huge 20% on a year-over-year basis. This time last year, inventory levels were low and the retail community enjoyed considerable pricing power. However, those days are gone.
Recession fears are real and there are reasons to be cautious on the economic outlook. That said, sinking inflation and a likely change of policy stance by the Federal Reserve by mid-2023 bodes well for future returns in the bond market. In recessionary periods, high-quality fixed income – emphasis on high quality – tends to do quite well.
In this session, we will discuss the prevailing economic trends, the outlook for Federal Reserve policy and interest rates.
Speaker: Gregory Perry, Institutional Fixed Income Sales Representative, Alloya Investment Services | Gregg has been in the financial solutions arena for more than 15 years, including joining Alloya Investment Services in 2006. As an Institutional Fixed Income Sales Representative, he collaborates directly with CEOs and CFOs to expand their available investment options and realize their balance sheet strategies. From fixed income investment options – including marketable securities – to brokered certificates, Gregg offers access to a wealth of resources. Credit union decision makers regularly use his services, not only for their investment portfolio needs, but also to strengthen their overall balance sheet.
The Future of Credit Unions: Lessons from the Cable Industry
Over the past decade, the cable industry has suffered a massive blow, losing nearly 30% of its market share. This is due to the rise of streaming platforms, which have managed to capture the hearts of the next generation of consumers. 44% of all adults – over 35 million people – have never had cable, demonstrating that cable brands are quickly becoming irrelevant to younger generations. The financial services industry is now facing a similar disruption from new digital players. Credit unions and financial institutions must take this threat seriously and take action in order to remain relevant. By looking at the lessons learned from the cable industry, credit unions can innovate and adapt to the needs of Generation Z and beyond.
Speaker: Tanya Van Court, CEO and founder of Goalsetter
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| 1:15 p.m. – 2:15 p.m. Learning Labs |
Migrating from transactions to conversations, setting your branches, and people, up for success
For as long as we can remember, the branch was a place where routine transactions were taken care of, job functions were specialized, and limited conversations took place quickly to move people along – all behind a barrier called a teller line or closed in office. Now, this new generation of members want one-on-one conversations, education, and advice; experts who can help them through life’s important moments, like buying a house, setting up a retirement account or paying for college. They want open spaces, natural light, and environments that feel like home, along with the ability to perform self-service functions at the touch of a button. Good service is no longer defined by “how quickly you can get me out of here” but is now defined by “how good can you educate me”. From designing the look, feel, and functionality of a branch based on member needs, to streamlining branch operations to free up time; to training your employees to have conversations about life’s important moments and transitioning to the universal staffing model; this session covers both sides of the spectrum and your two most important assets – people and branches.
Speaker: Jim Caliendo, President & CEO of PWCampbell. One of banking industry’s premier presenters and retail network optimization experts, Jim Caliendo is a veteran Banker, published author, mentor to fellow colleagues, and current President & CEO of the highly respected, 113-year-old design-build firm, PWCampbell. Jim’s journey to excellence has been fueled by his unrelenting passion for excellence and continual growth. Today, Jim oversees the day-to-day operations of PWCampbell and its four subsidiary companies. His visionary leadership has enabled the company to successfully introduce new product lines, double revenue growth, and position the company as an award-winning provider of in branch technology. Combining his vast knowledge of the design-build industry along with his previous experience as a bank executive, Jim shows his audience how to successfully transform and expand their retail branch networks, maximize efficiencies, increase branch profitability, and ensure efficiency of operational space.
The 5 income-generating products you need before 2027
How diversified is your bottom line? How often do you review performance of your current products and their effectiveness with your target audience? Join us and score your credit union’s product diversity to find out! The services and products that credit unions are offering will continue to expand with the increase in competition for your members’ money. What are you offering to keep your members using your cards as “top of wallet?” Are you venturing into diverse lending offers? Can your members come to you for everything they need financially, including their small business needs? It can be easier than you imagine to offer the variety needed to keep members at your credit union. Join us for an informative breakout session that will review these items and how to get started in the solutions that work best for your credit union’s future.
Speaker: Starla Honea is an experienced leader in the credit union technology and consulting industry. Over the past 15 years, she has worked very closely with credit union staff from several perspectives. Those credit union perspectives include managing software support, guiding credit unions through the conversion process, and consulting with credit union executives and their board on their core technology due diligence. In the ever so evolving credit union landscape our technology is essential to growing and competing in the industry, please join an expert in learning how to navigate your due diligence cycle.
Recapture in a rising interest environment
Recapture and refinancing pose a significant challenge in a rising interest environment. Loans that consumers got even 9 / 12 / 18 months ago were at lower interest rate levels. Consumers are more rate-sensitive than ever which has shifted their mindsets. We are now seeing consumers explore refinancing immediately after getting a loan because the rates they got on their original loans are perceived to be disproportionately high. The good news is consumers are comparing the structurally lower credit union rates with commercial lenders rates – this is where you will gain members and movement! This session will focus on how to successfully recapture debt in a rising interest environment. Clutch can help turn your credit union into a fintech, helping members and nonmembers apply for auto loans, personal loans and credit cards.
Speaker: Nicholas Hinrichsen got his MBA at Stanford’s Graduate School of Business before he started a digital car retailing company in 2013 which he sold to Carvana in 2017. After 3 years with Carvana, Nicholas and his co-founder Chris Coleman teamed up again to start Clutch, with the goal to turn Credit Unions into FinTech lenders. Within less than two years, the founders raised $41M in venture capital, acquired 67 Credit Unions as client and power the Credit Unions’ consumer facing account opening and loan origination experience.
Developing an Effective Marketing & Media Strategy
Learn the keys to developing an effective marketing and media strategy for your Credit Union. We’ll highlight how to approach integrating a highly targeted marketing strategy with a powerful media campaign to drive your Credit Union’s growth and help reach your target audience across relevant media channels and navigating the ever-shifting media landscape. Topics include goal setting, audience targeting, persona building, media platform options, media plan formation and post-campaign analysis.
Speaker: With over 20 years of valuable media experience and key positions including Senior Account Management to Business Strategy and Innovation, John Bowser leads the Target Media team with a customer/client first approach that is always focused on delivering value. From Traditional straight through to Digital and Emerging Media – John brings decades of experience as a marketing leader helping to strengthen a brand’s relationship with its desired persona to achieve optimal results! His experience ranges across all major categories, working with Finance, Retail/CPG, Education, Entertainment, Technology, Communications, Home Services and Automotive. John continues to lead the company’s direction and growth from a Regional, National and International strategic partnership perspective. His decades of experience as a proactive marketing strategist has provided numerous clients with the ability to build out effective media strategies and investments that continue to drive brand success and sustain growth!
Emerging Leaders Track: Leadership is a Challenge
The make-or-break factor at a credit union – or any organization for that matter – is leadership. Leadership, though, can be an elusive concept. A quick Google search reveals an incredible 5,280,000,000 hits on the topic. So much information can be overwhelming. On top of that, much of the information is based on theory or personal experience so it can be difficult to determine what works and what doesn’t without a lot of trial and error. Problematically, that trial and error have the potential to damage our credibility. So, while some of the information can be of value, it is more effective to focus on information that is well-researched, practical, and which anyone can apply irrespective of their personality. This is the gold standard of content. During our session, the hub of our discussion will concentrate on material from The Leadership Challenge developed by Jim Kouzes and Barry Posner. The Leadership Challenge focuses on five practices of leadership that are based on 40 years of well-documented and validated research. Additionally, there are behaviors within these practices that anyone can apply. Furthermore, these practices, when effectively applied, lead to a highly engaging work environment that produces results.
Speaker: Joe Bertotto, Chief Culture Officer, Vizo Financial | Joe Bertotto is the chief culture officer for Vizo Financial. Prior to joining Vizo Financial, Joe was the
chief culture officer of Graystone Bank, one of the fastest growing banks in Pennsylvania history. The meteoric rise of Graystone was attributed in large part to the company culture that Joe architected. He has also headed organization development at Sovereign Bank and PNC Bank. Joe has been working in the field of leadership and organization development for 30+ years. Joe has written numerous articles on leadership, strengths and organizational culture which have appeared in a variety of publications. Most recently, he released his first book, “Pick Up the Gum Wrapper: How to Increase Performance While Improving Lives.” The book hit Amazon’s #1 New Release List in its category.
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