Many credit unions consider the CEO succession plan an absolute necessity. But, how many of those same credit unions plan for the replacement of a board member? The board member, too, is an essential piece of credit union operations. In fact, says Filene’s Ben Rogers, there’s a hard connection between strong financial performance and good governance. Don’t make board succession an afterthought. Rogers shares strategies for effective volunteer recruitment and for identifying the right potential board member for your credit union.
Can small to mid-size credit unions be entrepreneurial? Yes, absolutely. Take, for example, ENYFCU, a $56 million dollar institution with a nifty little loan calculator for its loan officers. Thinking they had something with potential on their hands, the CU’s management and board turned the loan calculator into RateMatch, a lead-generating tool hooked up to some of the biggest credit report sales sites in the country, and Syphr, a CUSO to support it. ENYFCU CEO Chris Langley explains how he and his board founded their own tech start up and what it takes to go from idea to fully functioning CUSO.
Retail credit unions have to live with the corporate stabilization premium assessment and the ripple effects of U.S. Central and WesCorp losses. But, are they still going to want to use the corporates? The new corporate regulations will be in place by mid-summer. Join Jay Murray, CEO of MidAtlantic Corporate FCU for a critical discussion on the rules in their final form and the practical impact they’ll have on the corporate system. You will also have the chance to pose your hard hitting questions.
The recession may finally be ending, but legislators and regulators are just getting started. New regulation continues to swamp financial institutions and their beleaguered compliance officers. In the meantime, the entire regulatory apparatus may be in for a wholesale revision. How do you make sense of it? Join Jane Pannier for an up-to-the minute discussion on the rapidly expanding regulatory universe and how it will impact strategy at your CU.
Only a few years ago, consumers were looking for anyone who could get them a mortgage – any mortgage – as fast as possible. No longer. Newly cautious consumers want lenders they can trust and mortgages that make sense. An impressively large percentage of SECU members use the CU for their mortgage needs. Why? Phil Greer credits his CU’s quality service and one specific product: an ARM designed to benefit members and work for the CU as a long-term portfolio product. Greer shows how service plus a well-designed product can position your CU as a mortgage lender of choice.
Everyone knows that adding younger members makes sense for credit unions, but knowing is only half the battle. What do young adults actually want from their financial institutions? Brent Dixon, The Filene Research Institute’s new youth researcher, dissects the mind of the youthful consumer and details the products, services, and recruiting strategies credit unions can use to reach them. Tune in for a discussion on some of the youth-specific products Filene’s “30 under 30” group designed specifically for their peers.
Credit unions are having difficulty reaching younger adults because we don’t understand them, don’t offer the products they want, and don’t know how to market to them. Three strikes and you’re out. In this session, Tom Farin attacks the issue of share product design and customer segmentation, taking a quick look at three separate demographic groups, including Gen Y. Learn how to target each demographic with tailored product design, segmentation and marketing strategies.
Bonus: Use any one of these ideas and you will pay for your Directors’ Convention expenses, guarantees Tom.
The Neighborhood Economic Development Advocacy Project
Pervasive myths about immigrants’ financial services preferences, as well as the perception of legal and regulatory risks, prevent many banks and credit unions from serving immigrant communities well. Deyanira Del Rio will:
- explain how financial institutions can overcome the barriers that keep immigrants out of your membership ranks
- highlight resources to support credit unions
- provide examples of successful lending, remittances and outreach programs from throughout the country.
With more and more CUs slipping down into CAMEL ratings of 3 or worse, the NCUA has continued to increase regulatory scrutiny. Last winter, the agency moved to a 12-month examination cycle. Since then they’ve budgeted for a big increase in exam staff and pushed CUs to adopt comprehensive risk management strategies. What keeps the NCUA up at night? You’ll be sure to hear about it at your next exam. Don’t get caught off guard! Join Hoag and Smith for a discussion of top NCUA concerns and how they will impact your next exam.
You don’t have to do it all by yourself. CUs that share resources can cut costs, offer their members more and run leaner, more efficient operations. Jon Hernandez, the CEO of three small California CUs, explains how his CUs share him and, along with other area CUs, everything from compliance officers and IT to branch facilities.
Building on his Wednesday general session address, Peter Duffy digs down into the credit union business model and suggests ways credit unions can adapt to the market andassume their critically important role in the economic recovery. One key piece is capital. How much capital is right for you? The answer will be different for every credit union, says Duffy. But if you know your market, it doesn’t matter if you’re a large or small credit union. You can optimize that capital and grow.
When credit unions look to cut costs, there’s one cost that always seems to end up on the list: the marketing department. For credit unions – small ones in particular – that cut could end up doing much more damage than most credit unions realize. Old-school thinking dominates when it comes to marketing, says Deb McLean. Smaller credit unions think they can get by with a newsletter and occasional Web site updates. If you don’t market, however, you won’t grow. Join Deb for a discussion on the necessity of small credit union marketing and for specific marketing strategies you can take back to your credit union.
Has your CEO evaluation become too complex? Does your CEO have too much input into the process? The CEO evaluation is the most important tool directors have as stewards of their credit union, but the plan has to be concise and effective. Credit union consultant Dan Clark explains how boards can reclaim the process and draft their own streamlined CEO evaluation. Sit in and learn:
- which sources of information to build around and which to throw out
- how to format a score sheet and craft performance standards
- how to balance short and long term goals
Bonus: For credit unions preparing for the hire of a new CEO or planning to revise their old review process, this session is a necessity!
Credit unions haven’t exactly earned a reputation for pushing predatory products or taking advantage of members. Nevertheless, regulatory scrutiny is tough and getting tougher all the time. Examiner expectations and demands are wringing the profitability out of the loan portfolio, says Rex Johnson. What can credit unions do about it? Join the firebrand lending consultant for a charged discussion on regulatory pressures, lending and what credit unions can do to return to profitability.
Having trouble growing? You are not alone. The marketplace is becoming less and less forgiving of businesses that are not meeting market needs. Credit unions that do not recognize that competition is creative, innovative and convenient will become just another buggy whip industry.
Credit unions need a new business model, says governance expert Tim Harrington, one that takes into account the enormous shifts in today’s banking market, everything from electronic banking to Generation Y. In this session, Tim identifies all the moving pieces and suggests ways that credit unions can adapt.
We exist to serve our members, not just in good times, but also in bad times, says David Reed.
If you, as credit union managers and CEOs, want to uphold both ends of the bargain, you’ll need to take a hard look at your collections and bankruptcy processes. How can you make the most of working with troubled members? Join David for a high-level run through of collections and bankruptcy best practices that make sense for the credit union and benefit the member. You’ll get information on:
- Your full range of options when working with troubled members
- Getting the most out of collections
- The art of loan workouts
and modifications - And much more
Topics to include:
- Credit card legislation
- Discussion of actions taken by the top issuers
- Strategies to reduce risk explained in detail
- The potential impact of current interchange litigation on income
- What you can do to boost profitability, ROA and net worth