​Ultum Group is hosting a 6-week virtual Bootcamp for credit union leaders about starting, building, and creating a successful commercial lending program. Ultum Group is a Credit Union Service Organization (CUSO) that provides premiere end-to-end Commercial and SBA Lending services to financial institutions. Their goal is to give credit unions the opportunity to serve business members in their communities and across the country by providing products and services that exceed expectations. 

​Join the Week 1 Overview session to hear industry trends and the basics of commercial lending to help determine if it's right for your credit union. You then have the option to register for the entire series to build your commercial lending knowledge. 

• Week 1: October 19, 2022 @ 10-11 AM (Recording available through November 1, 2022) Overview of the industry landscape and the benefits of commercial lending for credit unions. Discuss industry trends and the basics of a commercial lending department to determine if it's right for your organization.
• Week 2: November 2, 2022 @ 10-11 AM: Laying the groundwork: creating a commercial credit policy. Review regulations, requirements, best practices, and more.
• Week 3: November 9, 2022 @ 10-11 AM: How to create and sell your new commercial offerings. Discuss various types of commercial loans, creating loans, and more.
• Week 4: November 16, 2022 @ 10-11 AM: Building your process: Overview and Underwriting. Identify a workflow and resources to accomplish it. Review business development and credit underwriting.
• Week 5: November 30, 2022 @ 10-11 AM: Building your process: Closing loans. Continuing the discussion around building your process. Review loan closings, collateral requirements, and an overview of doc prep.
• Week 6: December 7, 2022 @ 10-11 AM: ​Managing your portfolio. Learn about managing your portfolio with loan ticklers, financial reviews, Annual Reviews Servicing and modification requests, and more to set your program up for success

With questions, please reach out to Theresa Tschumperlin, CEO, Ultum Group.

During COVID, the NCUA issued a letter to credit unions encouraging extending small-dollar loans to members experiencing economic hardship. Today 61% of consumers in America are living paycheck-to-paycheck. Each year, financial emergencies affect thousands of people. The cause may vary, yet they are almost always unexpected life events that create some sort of financial hardship for those impacted. And payday lenders are profiting from your member’s misfortune. 

​In this session, US Navy Veteran and QCash Financial - CUSO CEO Seth Brickman, will share his stories from the deep. Why small dollar loans can have a big impact on the communities we serve. Seth will share stories on how his time building and serving on a nuclear submarine aligns with how credit unions can drive financial Inclusion and serve the banking underserved with small dollar lending that does not use credit score.

After registering, you will receive a confirmation email containing information about joining the FREE webinar on September 27.

QCash Life Event Loans are an easy-to-implement solution that provides credit unions another service to practice financial inclusion and serve the underbanked. QCash Life Event Loans can provide the funds credit union members need, day or night. With just six clicks in 60 seconds, the funds are immediately deposited into their account. No credit check and nothing more than a computer or smartphone to complete the super-simple process. 

This webinar is brought to you by Tristate Products & Services, a collaboration with the Minnesota, Montana, and Wisconsin Credit Union Leagues bringing products and services to support credit unions and their members.

This year marks the 90th anniversary of the Federal Home Loan Bank System. As a proud member of FHLB Des Moines, Ideal Credit Union congratulates the System, and we celebrate our partnership with the FHLBanks for playing a pivotal role in the way we have served the families and businesses in our communities for over 96 years. 

​As a member-owned financial institution, our mission is to deliver financial solutions that help our members live their Ideal Life. Our partnership with the FHLBanks empowers us to meet the funding needs of our community by providing access to liquidity. If this access was not available, it could potentially hinder our ability to make loans, and we would have to scale back on many services that allow our credit union to give back that make a real difference in the community. Let me share a few examples...

During the pandemic, Ideal Credit Union turned to FHLB Des Moines to assist us when our members sought to delay their loan payments. So much was unknown as many businesses shut down and Ideal’s members were concerned about losing their jobs in addition to being concerned that their income could be being negatively impacted. Ideal gave members the opportunity to defer payments and save money so they could have a cushion for their families and some peace of mind. We were proud to empower our members with payment options that met their financial needs at the time. 

Our partnership with the FHLBanks has also inspired Ideal Credit Union to be creative in how we develop and provide products to first-time home buyers. Research indicates that the high cost of a down payment can be a key barrier to home ownership for many people. Enter the FHLB Des Moines Home$tart Program, a down payment assistance program that allows us to provide members with the funds upfront so they can become successful homeowners. We’re especially proud to utilize the Home$tart Program for our Community Heroes Mortgage Program, a program that gives us the opportunity to say “thank you” to those that have dedicated themselves to the wellbeing of others, including fire fighters, teachers and nurses. This program, which provides a special 1% down payment benefit, would not be available if not for FHLB Des Moines.

With access to the FHLBanks’ safe and reliable liquidity, Ideal Credit Union has been able to expand our mortgage lending while also offering volunteer and educational programs that benefit the broader community. On the volunteer side, our employees have created programs that support veterans, students, the homeless and the hungry, among others. In the area of education and financial literacy, we offer webinars on topics that range from Buying Your First Home, Selling Your House, Investments and Retirement Planning, Running Your Business, to Investing as a Woman and Cybersecurity Awareness. It’s been very rewarding for all of us at Ideal Credit Union to participate in and provide these programs to our members and to the markets in which we serve.
​
It is interesting that while the benefits of our partnership with the FHLBanks impact so many in our community, not everyone has heard of FHLB Des Moines or the FHLBanks. The Banks are a critical element of the nation’s financial infrastructure and their unique business model has ensured they are here for us and Minnesota communities in all economic cycles – in both critical and stable times. That is the purpose of the System. Without the FHLBanks, Ideal Credit Union – and more importantly, the communities we serve – would not be as vibrant or prosperous as we are today.

This article is provided through MnCUN's Strategic Alliance with FHLB Des Moines. For more information, visit the Solutions Directory. 

With COVID-19, technological advancements and employee desires, the workplace is changing with more and more employees working remotely. Join the Minnesota Credit Union Network as we hear from Carlos Molina, Senior Risk Management Consultant with CUNA Mutual Group, on Thursday, August 25 at 10 a.m. regarding various areas of risk for employers and ways to mitigate those risks and enhance the work environment for your employees

About the speaker: Carlos Molina is a Senior Risk Management Consultant in Risk and Compliance Solutions for CUNA Mutual Group. He is responsible for assisting credit unions nationwide in identifying, and mitigating risks in areas related to their operations & security.

Prior to joining CUNA Mutual Group, Molina was a criminal investigator with the Public Defender’s Office in Essex County, N.J. Carlos graduated from Pace University in 2000 with a Bachelor’s Degree in criminal justice and holds a Masters in Administrative Science from Fairleigh Dickinson University (FDU).

He also holds the following designations: Certified Risk Manager (CRM), Certified Fraud Examiner (CFE), CUNA certified Credit Union Compliance Expert (CCUE) and Credit Union Enterprise Risk Management Expert (CU-ERME).

With COVID-19, technological advancements and employee desires, the workplace is changing with more and more employees working remotely. Join the Minnesota Credit Union Network as we hear from Carlos Molina, Senior Risk Management Consultant with CUNA Mutual Group, on Thursday, August 25 at 10 a.m. regarding various areas of risk for employers and ways to mitigate those risks and enhance the work environment for your employees. 

​About the speaker: 
​Carlos Molina is a Senior Risk Management Consultant in Risk and Compliance Solutions for CUNA Mutual Group. He is responsible for assisting credit unions nationwide in identifying and mitigating risks in areas related to their operations & security.

Prior to joining CUNA Mutual Group, Molina was a criminal investigator with the Public Defender’s Office in Essex County, N.J. Carlos graduated from Pace University in 2000 with a Bachelor’s Degree in criminal justice and holds a Masters in Administrative Science from Fairleigh Dickinson University (FDU).

He also holds the following designations: Certified Risk Manager (CRM), Certified Fraud Examiner (CFE), CUNA certified Credit Union Compliance Expert (CCUE) and Credit Union Enterprise Risk Management Expert (CU-ERME).

Steve Danco, SVP, Direct to Consumer Experience, CUNA Mutual Group 

This article is provided by MnCUN's Partnership with CUNA Mutual Group. Contact MnCUN Chief Operating Officer, John Ferstl for more information. 

​Credit unions have long nurtured a deep trust with members. Historically, that trust has been difficult for even the most formidable opponent to duplicate. Difficult, yet not impossible.

​In fact, research shows that the investments big banks have made in technology have leveled the playing field in the battle for the trust and loyalty of financial consumers. They have been able to change the game by delivering simple, easy experiences that meet the needs of today’s consumers. 

Between 2020 and 2021, the share of consumers satisfied with their credit union fell almost two full percentage points, from 88.4% to 86.5%. At the same time, consumers satisfied with their digital and online banks rose two points, from 82.8% to 84.8%. In the race for satisfaction, credit unions and their competitors are neck-and-neck.*

​So, how can credit unions up their game and take an aggressive stance in the contest for trust and become their members’ most valued financial partner? In our work at CUNA Mutual Group, we see four distinct opportunities. ​

​TriState Products and Services is partnering with QCash Financial, to give credit unions access to “life event loans” so they can help members when and where they need it.

TriState Products & Services is a collaboration with the Minnesota Credit Union Network, Montana’s Credit Unions, and the Wisconsin Credit Union League. The three states are working together to form strategic endorsement relationships with partners to help their credit unions best serve their members through partner education opportunities and joint marketing efforts. 

QCash Life Event Loans are an easy-to-implement solution that provides credit unions another service to practice financial inclusion and serve the underbanked. QCash Life Event Loans can provide the funds credit union members need, day or night. With just six clicks in 60 seconds, the funds are immediately deposited into their account. No credit check and nothing more than a computer or smartphone to complete the super-simple process.

“QCash aligns perfectly with the ‘people helping people’ credit union philosophy, says QCash CEO Seth Brickman. “This partnership with the credit union leagues in Minnesota, Montana, and Wisconsin is an important step in offering credit unions the financial tools they need to benefit their members’ lives.” 

“By offering loans that don’t rely on traditional credit scores, QCash enhances credit union’s ability to improve the financial well-being of their members,” said Minnesota Credit Union Network’s Chief Operations Officer John Ferstl.

“We are excited for this partnership that gives credit unions a new way to live out their mission and better serve the underserved,” said Brett Thompson, President & CEO of The Wisconsin Credit Union League,” said Brett Thompson, President & CEO of The Wisconsin Credit Union League.

Ranel Smith, Vice President of Relationship Management, Montana’s Credit Unions added, “We’re pleased to leverage the cooperative model to help credit unions safely and efficiently provide loans to their members in times of need.”

For more information on how to take advantage of the partnership, contact Kris Jacobsen, Vice President of Business Development, Minnesota Credit Union Network and TriState Products and Services.

Credit unions have always been there to help their homebuying members truly understand their options. That’s why CUNA Mutual Group partner, MGIC, is inviting you to this special event webinar and a chance to refamiliarize yourself with adjustable-rate mortgages (ARMs)and keep you fully informed of current mortgage lending practices so you’re better prepared to help your members achieve homeownership.  

With rates up from where they started this year, get reacquainted with ARM loans so you’re prepared to educate your homebuyers and answer their questions with confidence. 

Join us for this 45-minute ARM refresher where we’ll cover:

• ARM basics
• ARM qualification standards
• Product comparisons
• Agency guidelines and pricing
• Borrower considerations

Wednesday, July 20, at 1:00 p.m. CT

This article is provided through MnCUN's partnership with CUNA Mutual Group. Visit the Solutions Directory for more information.

By Opal Tomashevska, Director, Multicultural Business Strategy, CUNA Mutual Group. This article is provided as part of MnCUN's partnership with CUNA  Mutual Group. 

As I talk with credit unions around the country, I’ve been able to engage with many in the movement around multicultural business strategy, and there is one message I repeat over and over.

​To be competitive and to live up to our founding principle of people helping people, multicultural business strategy isn’t optional. It’s essential.

While multicultural business strategy is gaining traction in our industry, there are still some who believe that for their community or their credit union, it doesn’t apply. But that thinking doesn’t match our reality. Take a look at the evidence:

• Over the last five years, multicultural consumers accounted for 100% of U.S. population growth and 61% of credit union growth. [1]
• By the year 2044, the U.S. population is projected to be more than half multicultural. [2]
• Multicultural consumers have buying power. For example:
  • Black and Hispanic consumers are almost two times more likely to purchase payment protection when compared to white consumers. [3]
  • Fewer Hispanic and Asian consumers have owned life insurance, but are buying it at a higher rate now, and overall Black Americans have the most life insurance than any other demographic group. [4]
  • Purchasing power of Asian consumers is growing at a rate more than three times that of white consumers and purchasing power of Hispanic consumers is growing at a rate more than double white consumers. [5]

Focusing on multicultural consumers is not a nice to have or an add on. If you are going to stay competitive and not fall behind, it’s an essential part of your core business strategy.

The same multicultural business strategies that enhance empowering relationships with members when focusing on race, age, ethnicity, and culture, extend to your ability to better serve members along all aspects of diversity including gender identity, sexual orientation, physical and mental ability, and socioeconomic status.