CU*NorthWest, a 100% credit union owned cooperative CUSO, announced that Kinsey Hiett, currently Associate Vice President, has been promoted to Vice President, effective immediately. Hiett will be responsible to oversee daily operations of CU*NorthWest’s Liberty Lake headquarters and manage many of the firm’s contract and remote resources. “As CU*NorthWest continues to aggressively expand market-share, I am excited to take on the challenges of managing our firm in this growth period. Being here in the very beginning years of CU*NorthWest and contributing to building the foundation of our firm has been personally rewarding and I look forward to more leadership responsibilities in the future,” said Hiett.
Posts By: Denise Wymore
CU*Answers Imaging Solutions in partnership with Virtual StrongBox, Inc. announced 1st Street Credit Union (Sarasota, FL) as the winner in their “My Virtual StrongBox Dash for Cash!” contest. The contest ran for one year from October 1, 2017 until September 30, 2018, with a prize of $1000, and measured participating credit unions’ percent increase in adoption of “virtual strongboxes” by members. A Virtual StrongBox™ is an online repository for members to place personal documents in, as well as a secure location for credit unions to place documents for the member such as e-receipts and loan forms. Documents in the member’s virtual strongbox can easily and securely be shared and managed by the member. Available inside of online banking, access for members is provided in a familiar location.
By Jeffery Kendall, Senior Vice President & GM, Global Banking & Financial Solutions, Kony, Inc.
First, Amazon teamed up with Chase. Then, PayPal invested in physical branches. As the dust settles on these major announcements from digital natives, my advice to banking leaders is to hit the pause button and ask some important questions about where your digital banking strategy is taking you. Do you have the executive vision, investment appetite, and people to execute quickly enough on your digital roadmap?
As an industry, credit unions and banks are undergoing its biggest tectonic disruption in modern history. The decisions you make now will impact your organization for years, possibly decades. Now is the time to be clear-eyed in terms of what digital success looks and feels like to your customers – and to your profit margin.
In order to effectively compete in the digital society of today and tomorrow, credit unions and banks must evolve with their customers, and do it in a way that makes practical sense. Forget the broad and lofty goals of becoming the next tech darling; focus instead on some basic, often overlooked, pillars of digital success. Below are some observations I’ve made in working with banking leaders who are most successfully navigating their way through digital innovation.
In 2017 ORNL Federal Credit Union and Y-12 Federal Credit Union won the NACUSO Credit Union Collaboration & Innovation Award. They are competitors located just one mile from each other yet they collaborated for the benefit of the members by creating CU Community Title.
Since August 6, 1948, ORNL Federal Credit Union has been a trusted financial cooperative for members, and the East Tennessee community. To celebrate its 70 year history, the Credit Union recently offered its members the opportunity to nominate worthy non-profit organizations to receive one of seven $10,000 grants through a $70,000 Community Giveback & Investment opportunity.
The following organizations were selected to each receive a $10,000 grant:
Blossom Center for Childhood Excellence
By providing a sliding tuition scale based on income, the Oak Ridge-based Blossom Center for Childhood Excellence provides day care, after school care, and pre-school programs for low-income families for children from ages 12 months to 13 years old. Their programs include healthy meals, educational activities including STEM programs, and play time. The center is open each day from 5:00 AM to 1:00 AM to accommodate parents with varying work schedules.
Partnership with The Credit Union League of Connecticut helps expand Owner base in “The Constitution State”
The nation’s premier payments CUSO, PSCU, has announced the addition of three new Owners to the cooperative from the state of Connecticut. Sikorsky Financial Credit Union (Stratford, Conn.), Wepawaug-Flagg Federal Credit Union (Hamden, Conn.) and Healthcare Financial Federal Credit Union (New Haven, Conn.) have all signed agreements with PSCU for a variety of services, including credit and debit processing and bill pay.
“PSCU delivers a highly integrated suite of traditional and digital payments solutions to hundreds of credit unions across the country, affording members seamless access to transact with the credit union brand across all channels,” said Scott Wagner, EVP and Chief Revenue Officer at PSCU. “Through continued investments in technology, service delivery and fraud mitigation, PSCU effectively meets the changing dynamics of the payments industry and delivers on PSCU’s promise of growth, while helping to fuel the credit union’s highest returning asset.”
With more than 52,000 members, Sikorsky Financial Credit Union chose PSCU for credit and debit processing, as well as bill pay, due to the high impact these services have on its members and their importance to the credit union’s bottom line.