The Minnesota Credit Union Network (MnCUN), and the Servion Group are expanding their partnership to provide MnCUN member credit unions quality growth solutions. The partnership will provide mortgage, servicing, title insurance as well as commercial underwriting and related services to MnCUN Member Credit Unions. “At Servion, we’ve always taken pride in helping credit unions deliver valuable products and services to their members. I have been a part of this CUSO for more than 25 years, and this is a great opportunity for us to lean into helping the credit unions in our home state,” said Brad Crandall, President and CEO of The Servion Group. The Servion Group exists to provide credit unions with the tools to reach their true potential. Each member of the Servion team comes to work with a Be The Solution mindset and views their financial institution partners not as customers or clients, but as partners. Servion offers solutions to help credit unions establish and grow product and service lines that meet the needs of the people and businesses in their communities. “We chose The Servion Group because of their quality solutions and history of helping credit unions reach their goals, said MnCUN Chief Operating Officer, John Ferstl. For more information, contact MnCUN COO John Ferstl or visit the Solutions Directory. Last week, Tristate Products & Services, a collaboration with the Minnesota, Montana, and Wisconsin leagues hosted a webinar with QCash Financial. Seth Brickman, QCash CEO, discussed how it's imperative credit unions take action to steer members toward the safety and financial security of their local credit union.
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CUNA Strategic Services is also a proud supporter of both Tristate Credit Union League & Services and QCash. CSS is constantly exploring innovative solutions that will drive membership growth and operational excellence, ultimately streamlining operations and enhancing the member experience for credit unions. When we identify an offering that will benefit the industry, we collaborate strategically with the provider to determine how we can collectively deliver their solutions to serve credit unions nationwide. Through the Minnesota Credit Union Employee Benefits Plan's partnership with Lockton Companies, credit unions have access Lockton Compliance Services & HR Compliance Consulting resources.
As a member benefit, Minnesota credit unions can access their catalogue of webcast and presentation slides (log-in required). Topics cover a wide variety of labor and employment issues to help navigate the ever-changing landscape of federal, state and local employment laws. About Lockton Companies Lockton Companies is the world's largest privately owned, independent insurance brokerage and consulting firm with offices on six continents. The more than 7,000 professionals of Lockton serve over 52,000 clients around the world with human resources, total rewards and employee benefits advisory services in addition to risk management, insurance and surety services. The Lockton Total Rewards Consulting Practice helps employers use all available tools to attract, retain and motivate employees. Our process for data-driven decision-making and analysis drives human capital costs to their most efficient levels, based on strategy and options. We are partnering with Montana's Credit Unions and the Wisconsin CU League to bring two professional development series throughout 2023: Data Activation Series This certificate program is guaranteed to help you make sense of your data, cultivate a strategic plan, and put your credit union’s data to work. Watch this 2-minute video to discover all the benefits of participating. New for 2023, select from any of the five series dates that work for you! Credit Union Sales Intensive Workshop Is your credit union looking to move past it’s “order taker” service approach, and become more proactive in its sales conversations? To see consistent sales results you need competent sales training, employees empowered with the sales mindset, and leaders with expertise to coach and mentor their sales teams. We’re excited to be partnering with SalesCU to offer five different Credit Union Sales Intensive Workshop dates in 2023. Simply sign up for the workshop dates that work best for you and your staff and help transform the way your credit union sells. Article provided by MnCUN's strategic alliance with CUNA Mutual Group. Visit the Solutions Directory for more information.
Wealth management services may not be the first thing that comes to mind when people think credit unions, but that doesn’t mean it shouldn’t be a high priority for credit unions this year. As we start 2023, credit unions will focus on adding more members and enhancing the digital experience. However, it’s equally important for credit unions to leverage investment services to provide a well-rounded member experience. The State of Wealth Management and Credit Unions Roughly 20% of all credit unions in the country have financial advisors, yet only about 2% of credit union members use their credit union for financial advice. Additionally, research and consulting firm Kehrer Bielan found over 50% of credit union members would prefer to receive financial advice from their credit union. So, why are so few members taking advantage of their credit union’s wealth management services? It comes down to a lack of awareness, which indicates credit unions may not be marketing these services as well as they could be. Why Should Credit Unions Prioritize Marketing Their Wealth Management Services? The short answer here is credit unions are leaving meaningful revenue on the table. Credit unions that have financial professionals are under leveraging the opportunities this service offers and are losing out on non-interest fee income. Credit unions are known for helping people of all income levels, which allows financial professionals to grow their business faster by not having to worry about minimum investments that are common practice at big banks. In addition, members with an investment relationship with the credit union bring in more deposits and loans. Those relationships foster a deeper sense of trust, which creates loyal members who view their local credit union as a one-stop shop for all their financial needs. And, perhaps most importantly, credit unions that promote their wealth management services are better fulfilling their mission – helping people achieve a brighter financial future. How Credit Unions Can Market Their Wealth Management Services Here are three marketing strategies credit unions can implement this year to expand awareness of their investment services.
Speaker Seth Brickman is an innovative leader with a successful track record of building software products customers love to use. As a veteran of the US Navy and MBA Adjunct Professor, he gets to regularly interact with future leaders and also grow his own knowledge base. Seth was elected to the board of directors of the National Association of Credit Union Services Organization (NACUSO) in 2022.
Date: March 14, 2023 Time: 9:00 a.m. Cost: Free After registering, you will receive a confirmation email containing information about joining the FREE webinar on March 14. The QCash loan decision engine is a proven, proprietary platform built on member relationships and behavior data. This engine has been perfected over more than a decade of credit union lending experience, data analytics, automated underwriting, and real-time funding. In other words, we know what we’re doing and we want to share it with you and your members — to help the underserved find the support they need for financial stability and health. 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. As a processing partner of Co-op, we would like to share an invitation to Co-op THINK 23 – the credit union industry’s premier growth strategy event.
Join us as we explore The Invisible Revolution There’s a transformation taking place in how we move money – one you might not even see. Banking as a service and embedded finance are making it possible for self-proclaimed fintechs from real estate companies to fitness providers to own the entire transaction experience down to point of sale. Members want convenience, reliability, and security – and they’ll cobble together the financial services that best meet their needs now. So, what does that mean for credit unions? Co-op THINK 23 is the credit union industry’s premier growth strategy conference and one you don’t want to miss. We’ll explore the “Invisible Revolution,” the remarkable shift in consumer behavior that’s taking integrated experience to the next level and uncover fundamental ways your credit union can be prepared. Never been to THINK? Don’t miss out! There will be an amazing lineup of eye-opening speakers and fresh takes on industry trends and strategies, along with the networking events and evening activities designed especially for the credit union industry.
The WINcentive Savings program recently announced the final prizes awarded through the Minnesota statewide prize pool for 2022, including two grand prizes of $5,000 each, five $1,000 quarterly prizes, and 50 $100 monthly prizes. Members from Affinity Plus Federal Credit Union and West Metro Schools Credit Union were the lucky recipients of the annual grand prize drawings. Members from Affinity Plus Federal Credit Union, Mid Minnesota Federal Credit Union and Minnco Credit Union were among the program’s quarterly winners. Affinity Plus employees of their Coon Rapids branch surprised grand prize winner, Tracy H., in the branch with a check presentation! Participating members of all 22 Minnesota-based credit unions offering WINcentive were eligible for the monthly, quarterly and annual statewide prizes for 2022. Each credit union is also guaranteed to have one $100 winner each quarter. As of December 2022, over 8,700 members of credit unions in Minnesota have saved a total of roughly $13 million in WINcentive savings accounts throughout the state. WINcentive Savings incentivizes consumers in to save by offering risk-free rewards. WINcentive prizes are awarded on a monthly, quarterly, and annual basis, with prizes ranging from $100 to $5,000. Account holders in Minnesota qualify for up to four chances per month for each $25 increase in their month over month savings balance. The Minnesota Credit Union Network and TruLync also administer prize-linked savings programs for credit unions in Delaware, Georgia, Hawaii, Louisiana, Massachusetts, Montana, New York, New Jersey, Ohio and Wisconsin. To date, the programs provide over 33,000 members throughout the nation the chance to win through prize-linked savings accounts, with nearly $70 million saved. Prize-linked savings facilitated by TruLync have awarded over $1 million dollars to members of credit unions since its inception. |
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