Posts By: Shawna

2021 NACUSO Network Conference Highlights

Posted by & filed under News.

With record attendance, wonderful speakers and breakout sessions, topped with positive attendee feedback we were thrilled to see each of you again in person. And, by partnering with VentureTech, we had over 600 credit union and FinTech leaders networking, discovering new solutions and opportunities to collaborate. Our first chance to network in person in two years was truly satisfying!

Visit our highlights page for more detail – https://www.nacuso.org/conferences/2021-nacuso-conference-highlights/

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NCUA Passes Expansion of CUSO Powers!

Posted by & filed under Advocacy Fund.

10/21/2021 – Today, Board Members Rodney Hood and Kyle Hauptman showed real leadership at the monthly the NCUA Board of Directors meeting by passing an amendment to the federal CUSO Rule (Part 712). We have worked with the NCUA Board for many years to modernize the CUSO Rule and allow credit unions to leverage their collaborative partners in all types of lending to their members.

The amended Rule now permits CUSOs to originate any type of loan a credit union is permitted to originate. These loans can be sold or participated to a credit union, or held by a CUSO. The change modernizes the CUSO lending powers, allowing CUSOs to be a valuable collaborative partner to credit unions in all types of lending.

“This rule gives credit unions the tools to compete more effectively in the digital marketplace,” said NCUA Vice Chairman Kyle Hauptman. “It also gives members another choice when shopping online.

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Alacriti and Alkami Announce Partnership to Bring Unified Money Movement Services to Credit Unions and Banks

Posted by & filed under CUSOs In The News.

10/14/2021 – Alacriti, a fintech company specializing in payments and money movement solutions, has partnered with leading digital banking solutions provider Alkami to deliver modern, frictionless digital payments and money movement services to credit unions and banks. Through this strategic partnership, Alacriti has integrated its Loan Payment platform, part of Orbipay Unified Money Movement Services, into the Alkami Digital Platform, powering seamless experiences to credit union members and bank customers.

“This partnership brings the power of our highly customizable digital payments and money movement technology to the banking ecosystem through Alkami’s userbase. Together, Alkami and Alacriti will enable banks and credit unions to quickly and seamlessly deliver modern, intuitive digital loan payments across multiple payment channels. Alacriti’s Unified Money Movement Services include: A2A transfers, P2P payments, bill pay, disbursements, and real-time payments,” stated Manish Gurukula, Alacriti CEO.

Alkami’s Co-Founder and Chief Strategy & Sales Officer Stephen Bohanon said, “We’re excited to offer Alacriti’s Orbipay Loan Payment Services to our new and existing banking and credit union customers.… Read more

ONPATH FCU JOINS CO-OP ATM TO OFFER MEMBERS ACCOUNT ACCESS ANYTIME, ANYPLACE

Posted by & filed under CUSOs In The News.

CO-OP Digital Payments Ecosystem Enables Credit Unions to Engage with Members Where They Are

10/4/2021 – RANCHO CUCAMONGA, California – OnPath Federal Credit Union (www.BeOnPath.org) is expanding its partnership with CO-OP Financial Services (www.coop.org) by joining CO-OP ATM network, further enabling the credit union to meet its members wherever and however they want to engage.

“We have been a participating credit union in the CO-OP Shared Branch network, with its 5,700 branches, so we are aware of the benefits offered, allowing us to extend our member services and account access nationwide,” said Jared Freeman, President/CEO of OnPath FCU. “We are excited to now offer our members the same convenience by joining CO-OP ATM, with 30,000 machines across the country.

“With CO-OP ATM, our members can access their accounts regardless of where they live or travel, for day-to-day convenience or if they are away from home. The fact that members can use the network ATMs surcharge-free is a huge benefit and enables us to compete with any national bank,” said Freeman.… Read more

NCUA Oversight of Third Party Vendors Act

Posted by & filed under Advocacy Fund.

September 29, 2021 – We are providing a copy of a letter that we sent to members of the House Financial Services Committee’s Subcommittee on Consumer Protection and Financial Institutions. The HFSC has scheduled a hearing for today on the topic of “The Future of Banking: How Consolidation, Nonbank Competition and Technology are Reshaping the Banking System.” The last piece of potential legislation being considered is a bill regarding “NCUA Oversight of Third Party Vendors Act.” We have serious concerns with any such proposed legislation, as outlined in the attached letter.
We are providing to you, so you are aware, a list in case you want to send in letters to the HFSC Subcommittee members, sharing our concerns with unlimited vendor authority for the NCUA.

View Letter to the House Financial Services Committee
List of of HFSC Subcommittee Members

Letters should go to:

U.S. House of Representatives Committee on Financial Services
Attn: (Add Name of Subcommittee Member)
2129 Rayburn House Office Building
Washington, D.C.
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