Posted July 20th, 2020 No Comments
A Quarter for a Quarter – Millennium Corporate

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Posted July 20th, 2020 No Comments
Rep. Bacon Thanks CU’s for Community Support

The Nebraska Credit Union League hosted a virtual roundtable discussion with credit union leaders from the Omaha area and Congressman Don Bacon on June 23rd{Read The Full Article}

Posted July 20th, 2020 No Comments
Cornerstone Collaborates with other Leagues to Provide CU Professionals Leadership Development Opportunities Virtually

PLANO, TEXAS (July, 2020)—To give as many credit union professionals as possible opportunities to ELEVATE their careers, the Cornerstone Credit Union League is collaborating with the Hawaii Credit Union League, the Mountain West Credit Union Association, the Nebraska Credit Union League, and the Utah Credit Union Association to bring a robust, virtual leadership conference: ELEVATE Credit Union Leaders, Sept. 1-3. Powered by Cornerstone, this online event offers relevant topics and insightful, inspirational speakers for credit union staff at all levels, from aspiring leaders to executives and board members.

“The ‘people helping people’ philosophy holds true as leagues partner to collaborate for the benefit of their members,” said Tamra Gaines, experience & events vice president, Cornerstone Credit Union League. “ELEVATE: Credit Union Leaders will create an online experience focused on leadership development for all levels. This is a great opportunity for credit union professionals to network and engage beyond state borders.”

This online event features 15 subject matter experts discussing timely industry issues, including diversity and inclusion, board governance, and next-level leadership. It also offers peer-to-peer engagements and a virtual EXPO, enabling credit union employees to interact with exhibitors and sponsors.

“The Hawaii League is delighted to collaborate with the Cornerstone League to provide credit unions the opportunity to experience relevant and timely topics presented by world-class speakers and a virtual exposition to engage with real-time solution providers,” said Wendy Kishida, education & training director, Hawaii Credit Union League.

A new innovative educational resource will be introduced during the conference: Credit Union Leadership 360. This yearlong, online learning experience will focus on 12-core leadership competencies and a customized leadership competency assessment, which will guide attendees into personalized learning.

“Now is a critical time to grow and demonstrate leadership skills, which is why Mountain West is excited to partner with Cornerstone to support the development of credit union staff and executives, allowing them to become stronger faster,” said Nicole Brusewitz CUDE, CMP, vice president of education and events, Mountain West Credit Union Association. “The virtual programming offered through ELEVATE provides expanded access to a conference experience throughout your credit union without having the cost and risk associated with travel right now.”

Because this virtual conference doesn’t require travel or accommodations, it gives credit unions the chance to register more of their employees. As an added benefit, attendees who log into sessions each day will receive free webinars and five-minute discussions on business acumen for additional self-paced learning.

“The Nebraska League is proud to partner with the Cornerstone League as they develop and deliver a one-of-a-kind virtual event for credit unions,” said Amy Shaw, CUDE, chief initiatives officer, Nebraska Credit Union League. “Leagues have a strong history of collaboration, and it makes good sense to offer our member credit unions an opportunity to take part in this dynamic online experience.”

Sessions will occur each afternoon, giving participants the chance to balance any work they may need to accomplish earlier in the day. Everyone who registers for the conference can earn up to eight continuing education units. Certificates will be sent electronically at the end of the event.

“During these challenging times, credit union collaboration is vital in serving our local credit unions with the education and training they stand in need of,” said Marilyn Pearson, CLE, vice president of education and training, Utah Credit Union Association. “With this in mind, the Utah Credit Union Association is pleased to rally with other leagues and participate in the Cornerstone League, one-of-a-kind virtual event.”

Register for the event here:  cornerstone.swoogo.com/elevate 

Posted July 20th, 2020 No Comments
NE Issue Groups Gather Signatures for Ballot Initiatives

Three issue groups gathered the signatures of registered voters to have their ballot language placed on the November 3rd General Election ballot to be decided by Nebraska voters.  {Read The Full Article}

Posted July 20th, 2020 No Comments
Three ways credit unions can use a credit program to help members navigate uncertain times

When unexpected events happen, people need to be creative and flexible, but they also need a secure place to stand. {Read The Full Article}

Posted July 20th, 2020 No Comments
Nebraska Credit Unions Receive National Recognition

For a third year, Forbes partnered with a market research firm Statista and surveyed nearly 25,000 people in the U.S. about their banking relationships. {Read The Full Article}

Posted July 20th, 2020 No Comments
To find out what is next for real-time payments, here are five key trends to follow

1 –The growth in overlay services will accelerate real-time payment take-up.
With open APIs enabling imaginative overlay services, the payment itself becomes a frictionless element in the process. Consumers are demanding ease of use, transparency, certainty and immediacy when moving their money. Some overlay services are being developed at market level while others are being created on a
competitive basis. A standardized collaborative approach takes time but can reap benefits.
Currently, the areas showing the most progress are Request to Pay, aliases, and P2P payment
services We can expect to see more of the overlay services come to market in the year ahead.

2 –The size of the real-time payment prize for business use will become a reality.
The promises of faster cash flow, minimal exceptions, and automatic reconciliation are appealing to businesses. Given the complexities of multiple system dependencies in payments processing. Risk adverse companies will take a “wait and see” attitude. However, a handful of leading companies are moving ahead, and we expect to see some high-profile examples that prove the value of B2B real-time payments by next year that will ignite demand.
Therefore, financial institutions and fintechs should look at pilots and sandboxes, and test with
more innovative businesses to ensure readiness.

3 –Improved information and data flows will further streamline real-time payments.
With most real-time payment schemes based on the international ISO 20022 standard, payment transactions can now be sent with additional information that aids reconciliation and increases transparency.
With innovative overlay services, banks also can draw on the additional data becoming available with real-time payments to inform and assist customers with services such as budget management and make better targeted product recommendations.
Banks must now determine how to manage, use, process and store data they have not previously had to handle. In the near term, data will be the new battlefield for competitive differentiation.

4 –Cloud-based processing will increase accessibility to real-time payments.
The growth in cloud-based processing coincides with that of real time payments to enable wider participation. The benefits of this synergy – lower costs, compliance maintenance, improved agility and flexibility to adapt to new services, and the ability to react to fluctuating volumes quickly – will enable established participants and new entrants to embrace real-time payments opportunities with greater speed and efficiency. Indirect models enable new entrants to get to market quickly with open API accessed services from expanded participation of third parties. Adoption rates will improve exponentially.

5 –How the changing face of the industry will continue to impact real-time payments.
Retailers and fintechs are embracing open payments initiatives with innovative ideas to extract
more value from payments through enhanced customer engagement combined with lower costs of handling and processing.

Card companies are increasingly demonstrating commitment and confidence in real-time payments as the way to pay in the future with numerous investments and acquisitions by
MasterCard and Visa. Technology giants including Amazon, Facebook, Alipay, Tencent (WeChat), Baidu and Google are continuing to expand their presence in real-time payments. With cash transferred as easily as a chat message, there is no need to open a banking app, thereby reducing payment friction.

Going forward, tech companies will own more of the payment process (before, during and after a transaction) to leverage opportunities for high-frequency, low-margin revenue and capturing purchase behavior and data. Real-time payments are the new frontier and its all up for grabs. The greater the industry consolidation and investment, the faster we will see real time payments accelerate in adoption, value, and volumes.

FIS is one of the leading companies in real-time payments. For more information on how this can benefit your credit union see www.fisglobal.com and contact Dan Collins @ dcollins@nebrcul.org

CUA FIS Logo

Posted July 20th, 2020 No Comments
FinCEN issues warning to financial institutions after hackers hit high-profile Twitter accounts

After hackers attacked high-profile Twitter accounts on Wednesday, the Financial Crimes Enforcement Network issued an alert to financial institutions warning them about the cyberscam. {Read The Full Article}

Posted July 20th, 2020 No Comments
FBI Warns Consumers About Increased Fraudulent Unemployment Claims

The FBI is alerting consumers about a spike in fraudulent unemployment insurance claims filed using stolen identities. {Read The Full Article}

Posted July 20th, 2020 No Comments
CUNA-LEAGUE Webinar Series

The Nebraska Credit Union League, in collaboration with CUNA and other state leagues, is excited to introduce the new CUNA-League System Small CU Webinar Series for credit unions with less than $75 million in assets. {Read The Full Article}

Posted July 20th, 2020 No Comments
THE PAYMENTS PLAYBOOK: A Credit Union CEO’s Guide to Winning the Payments Game

As COVID-19 continues to impact our lives, your members need you now more than ever before. How can credit unions continue to do more for their members, not just by helping them bank better but improving their financial wellness, especially when so many are in crisis? {Read The Full Article}

Posted July 20th, 2020 No Comments
3 questions every credit union must ask during 2020 planning season

In anticipation of strategic planning season, credit union leaders are contemplating how this year’s planning efforts can adequately address the unprecedented and wide-ranging needs of today’s members. {Read The Full Article}

Posted July 20th, 2020 No Comments
Managing Bank Liquidity and Performance After COVID-19

2020 will certainly be remembered as the year Covid-19 changed the world as we know it. Likewise, the associated “Lockdown Recession” is already changing the way many banks manage their balance sheets. {Read The Full Article}

Posted July 20th, 2020 No Comments
Coming Soon to the Convenience of Your Desk: Ascensus IRA Training & Update

 

The Setting Every Community Up for Retirement (SECURE) Act, effective January 1, 2020, ushered in some of the most sweeping changes to retirement plans in decades. It was followed less than three months later by the passage of The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which also contained provisions changing some of the rules for retirement plans. Does your credit union have a good understanding of these new rules and their impact on IRAs? {Read The Full Article}

Posted June 18th, 2020 No Comments
CUNA-League System Small CU Webinar Series
We all want to do more to preserve small credit unions. That’s why we’re thrilled to announce that CUNA and every State League in the U.S. has committed to create a new series of free webinars just for you.

Starting Tuesday, August 4, CUNA and Leagues will be hosting weekly FREE webinars tackling the most important issues and subjects facing small credit unions today: new member growth, technology best practices, succession planning, marketing, board engagement, the list goes on.

With every League and CUNA committed to hosting a weekly webinar,we will have sessions through Spring 2021, allowing us to record and create a library of 30+ sessions packed with ideas and actionable information.

This is a fantastic opportunity to learn new strategies for the success of your small credit union and engage with peers from across the nation.  We look forward to seeing you on Tuesdays at 2 PM CT starting August 4! Thank you to our sponsor CUNA Mutual Group.

 

LEARN MORE AND REGISTER TODAY >

 

Posted June 18th, 2020 No Comments
National CU Foundation Offers Specialty Grants

NCUF Launches 2020 Grant Cycle with Focus on Financial Health & Well-Being

“If there was ever a time to document what credit unions are doing to improve their members’ and employees’ financial lives, it’s during this crisis,” notes Gigi Hyland, Foundation Executive Director. “This pandemic has put a glaring spotlight on how many of us are financially fragile. Our grants efforts this year focus on telling the story of how credit unions are meeting that challenge and testing a split deposit intervention with employees to see whether it moves the needle on financial well-being.”

The Foundation’s 2020 Grant cycle has two opportunities for credit unions:

  1. “Start at Home”: A strategy that focuses on financial well-being always starts at home with employees. Employees can be equally financially fragile as the members they serve. This grant effort seeks to This grant effort seeks to increase credit union employee financial well-being through one discreet savings initiative: Building short term savings through split deposit. “Splitting” a direct deposit is the ability to automatically direct a fixed percentage or dollar amount of pay into a savings or investment account. The overarching goal of this grant effort is to have impact — specifically to rigorously test this evidence-based intervention that has strong potential to build financial resilience among credit union employees and to be scaled within and across credit unions. This effort will be a collaboration with select researchers from around the country to help selected credit unions test split deposits with employees. Click here to see the full application for “Start at Home”.

 

  1. “Tell Your Story”: A great deal of work has been done in the credit union system around financial well-being and now is the time to tell the story of the journey to date. The Foundation is seeking credit unions who have financial well-being as a key component of their strategy to share their impact stories. Specifically, credit unions will be asked to document: the financial well-being challenge faced by members and/or the community; the intervention (e.g., product, service, counseling, relationship, etc.) the credit union took to address the challenge and improve financial health and well-being; and the transformation the credit union measured as a result of its work (e.g., 500 members improved their credit score from X to Y; $X in debt was reduced because of the intervention, etc.). Click here to see the full application for “Tell Your Story”.

 

These opportunities are only available to credit unions. The deadline for credit unions to submit their applications is July 15, 2020.  The Foundation will review all applications for each credit union’s financial capacity and commitment to improving members’ and employees’ financial well-being that directly support the stated application objectives.

 

 

ncuf

 

About the National Credit Union Foundation (ncuf.coop):

The National Credit Union Foundation (the Foundation) is the charitable arm of the U.S credit union movement, serving as a catalyst for change in people’s financial lives. The Foundation works to ignite understanding and focus on member financial health, inspire and create opportunities for credit unions to leverage their cooperative values and respond quickly when disaster strikes. Through cooperative support and action, the Foundation helps people achieve financial freedom.

 

Posted June 16th, 2020 No Comments
Hauptman Nominated to NCUA Board

President Donald Trump nominated Kyle Hauptman to the NCUA Board seat currently held by NCUA Board Member Mark McWatters whose term expired August of 2019.  {Read The Full Article}

Posted June 16th, 2020 No Comments
Save the Date to ELEVATE!

Calling all credit union leaders!!

NCUL has teamed up with many other states to bring you ELEVATE through the Cornerstone CU League.  Save the Date to join us on September 1-3 to be a part of an amazing, high-tech, virtual experience!

Elevate Header 2

 

Posted June 16th, 2020 No Comments
VisiFI P2P Solution

In analyzing Q1 data, VisiFI noticed a shift in the behavior of credit union members, particularly in March as a result of COVID-19.  {Read The Full Article}

Posted June 16th, 2020 No Comments
Verisite Mobile Inspections

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