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Risk.

For years I have said that to a credit union senior executive the foulest four letter word is risk.

It’s a risk averse industry and that’s a paradox because a credit union makes money by taking risks.

Then too we are now in a universe of unprecedented risk: there are wars, threats of a recession, threats of uncontrolled inflation, and of course there now is so much competition - neo banks, non banks and more.

Risk is everywhere.

Enter Ed Vincent CEO of SRA Watchtower, a Virginia headquartered company with a toolkit that is designed to automate risk management for credit unions.

“SRA Watchtower is committed to helping financial institutions unlock the power of data, which we believe is the currency of the future,” said Vincent.

You know you are in a sea of risks. Know that SRA Watchtower knows that and that is why it has tools to help credit unions manage in today’s environment.

Listen up.

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Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

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Want to know the secret about how to better target a new member acquisition campaign?

Of course you do.

Just about every credit union in the country is scrambling to gain new members - but could the campaigns be more efficient and effective?

In many, many cases the answer is a loud yes.

Enter Vertices Which is blending data and AI to give credit unions tool to enable more precise targeting strategies and tactics.

On the show is Mitch Rutledge, CEO of Vertice AI and himself a past podcast guest, episode 247,

But don’t take just his word.

Also on the show are business development specialist Tiffany Sharpensteen and Bradley Herbert, senior VP of technology, both of Education Credit Union of Amarillo, Texas which has assets around $480 million. Education shares its experience in the pilot program of Vertice ACQUIRE - and, yes, the reviews are glowing.

Listen up.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

And like this podcast on whatever service you use to stream it. That matters.

Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto

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Are you ready to grapple with the new NCUA requirement that every credit union have an up to date succession plan that covers both senior executives and board members?

The good news: you’re not required to have a written plan until January 1, 2026.

The bad news: if you don’t have a plan by then, or if your plan falls far short of NCUA’s expectations, the credit union can be written up by an examiner.

On the show is Jeff Paille, partner in The Bonadio Group’s Assurance Division, who offers a primer on what every credit union needs to know about this NCUA requirement.

And he also talks about what will happen if you simply tell the examiner you haven’t gotten a plan together.

Incidentally, although the NCUA explicitly flagged mergers triggered by a lack of a succession plan as a prompt for this new requirement, Paille says that a common succession plan at many credit unions is in fact merger.

Listen up.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

And like this podcast on whatever service you use to stream it. That matters.

Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto