Posted August 19th, 2020 No Comments
Bedtime Story Telling – CU4Kids

To date, Children’s Hospital has recorded hundreds of stories read by Children’s employees and volunteers and they would love to include Credit Unions in their virtual library.  {Read The Full Article}

Posted August 19th, 2020 No Comments
It’s Annual Convention Game Time!

It’s Game Time!

Registration to attend the 2020 BEST IN THE FIELD ~ NCUL Annual Meeting and Convention has started!   {Read The Full Article}

Posted August 18th, 2020 No Comments
Santa is Coming!

Ho! Ho! Ho!

We will be holding the Santa Letter campaign again this year!  Letters remain at $3 and the forms should be ready by late September for your members.  It is suggested that members will need to return forms to you by November 6th.  Spreadsheets will be due to the League no later than November 23rd and the letters will be mailed to the kids by December 4th.   Please let us know if you have any questions in the mean time.

Santa sampleCUforkids

Posted August 18th, 2020 No Comments
Miracle Jeans Day: September 9th!

CU4Kids_MJD_DEVIN_600px

A longtime CU4Kids staple, Miracle Jeans Day, is being nationally celebrated on Wednesday, September 9th.

Click here to learn more and register your credit union to participate

 

Posted August 18th, 2020 No Comments
Nebraska Legislature Update

The 106th Nebraska Legislature adjourned Sine Die today and with it brings the departure of several senators due to term limits.  {Read The Full Article}

Posted August 18th, 2020 No Comments
Be a Hero. Make life easier for your members.

Credit and debit cards have become the non‐cash standard way to pay merchants. However, when it comes to paying an individual, there is no standard way to do so because of so many hurdles blocking a person‐to‐person (sometimes called peer‐to‐peer) transaction. {Read The Full Article}

Posted August 18th, 2020 No Comments
Contactless payments with Transfund

NCUL_Transfund_Contactless_Ad

Posted August 18th, 2020 No Comments
Bring fun home for the summer with the security of prepaid cards

In the midst of the pandemic, families still seek entertainment and adventure. With states in various phases of stay-at-home orders, families are forced to get creative and bring fun home for the summer.  {Read The Full Article}

Posted August 18th, 2020 No Comments
Keeping the talent pipeline strong in today’s climate

As HR professionals, we know the importance of recruiting – finding the best, most diverse pool of talent we can for our organizations is a top priority.  {Read The Full Article}

Posted August 18th, 2020 No Comments
Mid-Year Reassessment Leads to Improved Outcomes

4 things you can do now to address the challenges of COVID-19

By: Ron Jennings, Executive Vice President of National Sales & Alliances

Throughout history, unexpected events and significant milestones—from natural disasters to economic downturns, regulatory constraints and the advent of new technologies—have tested the financial services industry. Time after time, credit unions have adjusted their operations and service delivery strategies in order to address changing business environments and deliver services to fill critical member needs.

As we reach the mid-point of 2020, COVID-19 is the latest challenge to place pressure on consumers and financial institutions alike. In the first quarter, the U.S. economy shrank nearly 5%. Since then unemployment has reached levels not seen since the Great Depression. What’s more, the economic outlook ahead is clouded by uncertainty, with predictions of further contractions, prolonged low interest rates and falling loan demand which will further impact income.

And while there is no way to predict when the uncertainty will end, there are steps that can be taken now to maintain or grow reputational capital, strengthen your operations and enhance your bottom line to prepare for the changes that lie ahead for your credit union, your members and your community as we work through this ongoing crisis.

  1. Improve the member experience

Stay-at-home orders have been lifted across the country and most businesses are opening, at least partially. However, record unemployment and under-employment persist across a broad spectrum of the population. Uncertainty about how long the virus will pose a threat increases the anxiety for millions of Americans who are looking for some peace of mind and financial security.

Are you taking steps to address your members’ financial service needs?  A fully disclosed Overdraft Privilege program can provide a user-friendly solution to your members’ occasional financial insecurities—both now and throughout the Pandemic—until more stable financial conditions return.

Just make sure that the important details of your program—like overdraft limits and fees—are fully explained to your members at account opening and through on-going interactions. Your program also should provide on-going communication regarding member account status and the availability of alternative solutions that can help them maintain their finances through economic uncertainties.

By taking a proactive approach to identifying user-friendly initiatives and strategies that take into account individual circumstances, you can be the solution for your members’ most pressing financial needs and protect vital sources of revenue for your credit union.

 

  1. Maintain compliance awareness

With all of the new challenges that financial institutions are currently experiencing, it’s imperative not to become complacent when it comes to maintaining compliant programs and procedures. Litigators across the country continue to target credit unions for activity that negatively impacts consumers. This includes class action lawsuits and demand letters against institutions whose overdraft policies are deemed to be confusing.

Are you utilizing best practices to manage your overdraft program? Do you have access to the latest advice on regulatory and consumer protection expectations? If not, you are risking increased examiner scrutiny and possible legal action.

When your members are aware of how to access your overdraft solution—and the other services you provide to help them when they are faced with a financial downturn—there is no guesswork and no surprise fees to further complicate their situation. Using the service becomes a clear choice they can make to avoid having transactions denied or checks returned on necessary purchases and emergency expenses.

If you are managing your overdraft strategy in-house, now is a good time to have a compliance expert review your policies and procedures to make sure they are in line with regulatory expectations and pose no threat of legal scrutiny or penalties.

 

  1. Take control of your expenses

At a time when you may still have employees working from home or have reduced staffing in place, it can be tempting to push some less member-facing tasks to the back burner. But don’t overlook the long-term financial consequences of not staying on top of your existing service contracts—you could be missing out on significant benefits.

What’s more, changing financial needs caused by the Pandemic have created more demands for employees to be engaged with new ways to address individual member challenges. Having an expert to help with evaluating contracts that are coming due or finding ways to save money—or add revenue—can be a valuable solution for improving efficiencies, as well as your service capabilities and your bottom line.

 

When was the last time you had a professional take a looks at your service contracts? Re-negotiating vendor agreements can uncover savings and improved contract terms on the services you use every day.  In many cases, a no-cost expert review can have a positive impact right away on contracts that are expiring between now and early 2022 on such agreements as card processing, card brand, core data processing and much more.

 

 Utilize tools and resources that support successful results

Since the onset of COVID-19, consumer use of contactless methods for obtaining financial services has increased, due to limited access to branch facilities, work-from-home requirements and social distancing recommendations. In this unsettling environment, it’s imperative to examine how effectively you are providing consistent financial services and support to strengthen existing relationships and attract new ones.

For instance, does your overdraft program include continuous member communication and on-going evaluation to make sure it is providing the best results for your members and your credit union? The combination of the right technology and sound expert advice is essential to ensuring your program is supplying accurate account tracking, analysis and reporting that is necessary to ensure a responsible solution for your members and a reliable source of revenue for your institution.

Effective utilization of data to identify individual members who may be affected financially during the Pandemic allows you to match your services to their needs. This, in turn, increases the likelihood that your institution will be seen as a trusted financial ally.

In light of existing staffing situations, it is essential for your employees to have access to training opportunities that instill the knowledge and confidence they need to do their jobs successfully. If you are relying on employees to train new hires and provide ongoing refresher courses while some individuals may be working remotely and/or taking on new responsibilities, your training strategy may be lacking consistency and failing to fully engage everyone who needs to be involved.

When it comes to training employees on critical member initiatives—like Overdraft Privilege and other services that offer financial stability for members—professional, program-specific trainers can take the guesswork out of the learning process and strengthen everyone’s peace of mind. With the support of experienced facilitators, you can boost your employees’ knowledge of program management, compliance, industry best practices and member engagement to make sure that everyone on staff has more confidence regarding how the program works, how to explain it effectively to members, as well as what value it brings to program users and the credit union.

For the past several months, COVID-19 has had a major impact on the economic well-being of financial institutions and consumers alike. And its impact is expected to continue for the remainder of the year, at least. How you respond to your members’ needs today can have a substantial impact on the success of your credit union for years to come. By reassessing your current strategies for improving the member experience, controlling your expenses and protecting revenue, you can address the changing environment with confidence.

 

ABOUT JMFA
JMFA is one of the most trusted names in the industry. Whether it’s recovering lost revenue, uncovering new savings with vendor contract negotiations, creating more value, serving members better or delivering a 100% compliant overdraft service—JMFA can help you deliver measurable results with proven solutions. To learn more, please contact your local representative or call us at (800) 809-2307.

CUA JMFA

 

Posted August 18th, 2020 No Comments
Jackson Lewis Webinar on D&I in the Workplace

As a valued credit union member of the NCUL, we are offering another free educational opportunity!  Please join Chad Richter of Jackson Lewis as he presents Enhancing Diversity and Inclusion in the Workplace.  {Read The Full Article}

Posted August 18th, 2020 No Comments
Alloya Corporate FCU’s 2020 Executive Leadership Symposium

Alloya Corporate FCU has announced that its 2020 Credit Union Executive Leadership Symposium, slated for Sept. 10-11, will be held virtually. {Read The Full Article}

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

news ad_2020

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}

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