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2019 Next Big Idea Winner & CUSO of the Year Winners

The 7th annual Next Big Idea winner is Zogo Finance. Bolun Li, Founder of Zogo began his presentation by asking the attendees to raise their hand if they had teenagers, now or in the past. And then he did an amazing job explaining to a room full of parents how his product can both educate and motivate teenagers. A daunting task to be sure. Zogo received 55% of the audience’s votes to claim the victory. Click here for photos and to watch his post-victory interview with Mike Lawson, CUbroadcast.

Click here to see photos and read about who the winners of this year’s CUSO of the Year and New CUSO of the Year Awards were.

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CUSOs in the News

NACUSO Commercial Lending CUSOs Urge Caution with new Appraisal Rules

The Business Services Advisory Group of the National Association of Credit Union Service Organizations consists of commercial lending credit unions and CUSOs throughout the country.  The Group recently discussed the new appraisal rule.  Bill Beardsley, CEO of the commercial lending CUSO Michigan Business Connection, and the Group’s Chair, summarized the discussion.  “There is a lot of appreciation for the flexibility that the new rule provides, and the confidence that is being placed on credit unions by the NCUA.  Our group consists of very experienced commercial lending professionals, who have seen the ups and downs of many economic cycles.  As a result, the consensus of our group is to recommend careful restraint in applying the full extent of new rule”.

The new appraisal rule, slated to take effect October 22, 2019, increases the threshold above which appraisals are required for commercial real estate transactions from $250,000 to $1,000,000.  Instead of requiring an appraisal, the rule allows reliance on a less formal valuation called simply a “written estimate of market value”. … Read more

Great Meadow FCU chooses eDOC Innovations

Great Meadow Federal Credit Union, based in Granville, NY, has selected eDOC Innovations to be their full document imaging provider. With eDOC’s comprehensive digital transaction management solution Great Meadow FCU will not only be taking advantage of the robust eDOC platform, they will also be utilizing a recently enhanced integration built between eDOC and the credit union’s core provider, CUProdigy.

“I’m pleased to see the collaborative work between eDOC and CUProdigy come to market and provide a tightly integrated workflow with our direct, API integration. It’s an elegant solution for our credit union users and the members they serve,” commented Bret Weekes, CEO at CUProdigy.

“Great Meadow FCU is the first credit union to take advantage of the deepened eDOC and CUProdigy integration,” explained Tim Wright, AVP at eDOC. “They will be using the system to bring their CU into the paperless space, digitizing their forms and automating the flow of documents, both forms from core as well as outside of core.” Existing paper files will be digitally imaged to put everything in one central location for storage and management.… Read more

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