Expanding Wallet Share: Know Your Members and What They Want
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The Offi cial Publication of Cornerstone Credit Union League Winter 2014 Expanding Wallet Share: Know Your Members and What They Want SAVINGS INSURANCEDEBIT CARD CHECKING MORTRGAGE ONLINE BILL PAY MONEY-MARKET CREDIT CARD PERSONAL LOAN EQUITY LINE OFONLINE CREDIT BANKING CO-OP Credit CO-OP ATM P2P CO-OP Online Services CO-OP Member Center CO-OP Network CO-OP Mobile CO-OP Check Imaging CO-OP Shared Branching CO-OP Debit SprigSM by CO-OP Dig deeper at co-opfs.org ©2013 CO-OP Financial Services Winner of the CUNA Marketing & Business Development Council’s 2007 and 2012 Diamond Award Contents Cornerstone Credit Union League 18 22 32 EDITORIAL Managing Editor Linda Webb-Mañon Associate Editor Allison Griffi n Contributing Writers Kimber Cockrill FEATURE Steve Gibbs 16 Expanding Wallet Share: Barri Hamilton Give Your Members What They Want Karen Houston-Johnson By Richard Grady Kimberly Jones Susan Looney Brian Turner DEPARTMENTS Suzanne Yashewski 4 President’s Column ADVERTISING By Dick Ensweiler Advertising Sales Directory 5 Chairman’s Forum & Account Executive Tracy Florida By Paul Trylko 6 News BUSINESS The Hazy Crystal Ball Subscription Coordinator Sue Epperson By Brian Turner REAL Solutions: Vital—and Rewarding—Community Service HOW TO REACH US By Kimber Cockrill 4455 LBJ Freeway, Suite 1100 Your Brand as a Financial Coop Farmers Branch, TX 75244-5998 e-mail: lwebb-mañon@ By Mark Arnold, CCUE cornerstoneleague.coop 10 Professional Development Website: Maintaining Member Relationships in a Digital World www.cornerstoneleague.coop By Susan Fletcher, Ph.D. Main Offi ce: (469) 385-6400 Finding a Way (800) 442-5762 Ext. 6400 By Tamra Fairbrother, CMP, CMM Editorial: (469) 385-6486 15 Regulatory & Compliance Advertising Sales: (469) 385-6641 Preparing for a New Year of Regulations By Steve Gibbs, CUCE, BSACS Advertising Design: (469) 385-6473 Regulatory Q&A: NCUA’s new rule on regulating CUSO’s, and what you need to know. Subscriptions: (469) 385-6668 Letters to the Editor: By Nathan Behncke lwebb-mañ[email protected] 20 Philosophy in Action Building a Governance Partnership – Part Two By Karen Houston-Johnson A Conversation with Long-time CU Volunteer Leo Leners By Linda Webb-Mañon, I-CUDE 25 HR Corner HR Q&A By Kimberly Jones Perspectives is a quarterly publication of the Top HR Issues in 2014 Cornerstone Credit Union League and is By Susan Looney off ered to affi liated credit unions as a dues- supported service. If you are not an employee or 29 Small Credit Unions volunteer of a League-affi liated credit union and Economic Challenges Engender Opportunities would like to subscribe to this publication, an By Kimber Cockrill annual subscription rate of $20 is available. Department of Public Safety FCU’s CEO on the Future and What Keeps Her Awake at Night By Linda Webb-Mañon, I-CUDE 32 Products and Services Solid Core Data Processing Foundation Essential to Serving Your Members GRAPHIC DESIGN By Timothy J. Erwin Bonnie Hickman Digital Communications: The New Necessity for Your CU By Dave McCue WINTER 2014 3 By Dick Ensweiler CEO CEO’s Cornerstone Credit Union League Column elcome to 2014! I don’t know about you, but I just cannot believe that another year has passed. Like many, I made a new resolutions Board of Directors list. Get healthier, pay off debt, save more money, etc. are all pret- ty common New Year’s resolutions. I myself have resolved to eat Chairman – Paul A. Trylko W healthier and exercise more in 2014. Vice-Chairman – Kenny C. Harrington But I didn’t just make a list for my personal life – I also made a Secretary – Michael D. Kloiber New Year’s resolution list for my professional life because I believe that just as we resolve to make positive changes in our personal lives, Treasurer – Windy K. Campbell we must make the same commitment to our professional lives, too. For the credit union movement, where a stroke of a pen can Region 1 – South East Texas dramatically impact the way we do business, it is particularly impor- James S. Tuggle Transtar FCU, Houston tant that we consider what we can individually do differently or bet- Kenny C. Harrington ter in the New Year to not only preserve and protect our movement, MemberSource CU, Houston but to grow and strengthen credit unions’ foothold in the fi nancial Paul Withey services sector. Texas Bay Area CU, Houston I challenge each of you to visualize what you’d like to see our Region 2 – South Central Texas movement accomplish in 2014, and then consider what you can do Carol Murray to accomplish this. Will you be an active participant or merely a Express-News FCU, San Antonio spectator? JoBetsy Tyler In visualizing the future of the movement, it’s best if you envi- First Central CU, Waco sion a more favorable legislative and/or regulatory environment for Paul A. Trylko Amplify FCU, Austin which credit unions can operate. For example, would you resolve to increase your engagement in political advocacy? While we can’t Region 3 – West Texas Nancy M. Croix Stroud strong-arm lawmakers, we certainly have the ability to infl uence. First Class American CU, Fort Worth Perhaps the greatest strengths of credit unions are our willingness to Robert C. Peterson collaborate, cooperate and mobilize when necessary. One Source FCU, El Paso There are many ways you can get involved in political advoca- James L. Boyd cy. You can become a key contact, and key contacts are individuals Abilene Teachers FCU, Abilene who have relationships with lawmakers and are able to reach out to Region 4 – Oklahoma these lawmakers when we need our voices to be heard. You can also Jason C. Boesch Oklahoma RE&T Employees CU, Oklahoma City support Project Zip and participate in grassroots initiatives such as Gina A. Wilson CU: R.O.A.R., which stands for Credit Unions: Ready, Organized, Oklahoma Central CU, Tulsa Activated and Responsive. Michael D. Kloiber If a comment call is issued by a regulatory body, will you make Tinker FCU, Oklahoma City the commitment to respond? If we remain silent, it can be perceived by Region 5 – Arkansas the regulator that we don’t have an issue with their proposed regulation. Windy K. Campbell If you envision a bigger market share for credit unions in 2014, Electric Cooperatives FCU, Little Rock what role will you play in helping to accomplish this? Will you Dwayne L. Ashcraft leverage all opportunities available to you through Cornerstone to Arkansas Superior FCU, Warren assist in t his endeavor? Through our training and events depart- Allen L. Brown Mil-Way FCU, Texarkana ment, for example, we offer a wealth of educational programs, from webinars and seminars to workshops and conferences that focus Region 6 – North East Texas Z. Suzanne Chism on a broad range of timely topics, including loan growth, product Texas Health Resources CU, Dallas innovation, attracting diverse demographics, mobile technology L. Wayne Mansur and much more. Through Credit Union Resources, we offer myriad Texoma Community CU, Wichita Falls solutions to help you better meet the challenges of today and tomor- Jim Brisendine row. Credit unions seeking help in the areas of compliance, fi nance Resource One CU, Dallas and auditing, strategic planning, technology, compliance and/or HR, Ex-Officio are encouraged to take advantage of all that Credit Union Resources Richard L. Ensweiler, CEO Cornerstone Credit Union League has to offer. And if Credit Union Resources doesn’t have what you need, one of our many business partners likely will. Serving in the credit union movement is demanding, but it’s www.cornerstoneleague.coop also an extremely rewarding profession. Now is the time to plan for 800-442-5762 your success in the New Year. 13-0901 4 WINTER 2014 By Paul Trylko Chairman’s President and CEO Amplify FCU Forum 014 marks a signifi cant milestone for the Cornerstone Credit Principle #3: Members’ Economic Participation Union League as we enter the New Year as a bigger, stronger Let’s face it – there are some members who are simply and more committed organization. I wish to extend my sincere shopping for the best deal and may never fully participate or 2 appreciation to all of our member credit unions, for Corner- realize the value of membership. Just as consumers join a credit stone would not exist without your support. union for different reasons, credit unions affi liate with their We are a movement of people – people working to- trade associations for different reasons. Consider your decision gether for a common goal. I strongly believe that if we to affi liate with Cornerstone. Perhaps it’s the opportunity to adhere to our seven core principles and leverage the resources of network, or to take advantage of the education programs, or Cornerstone, Credit Union Resources and the Cornerstone maybe it’s for Cornerstone’s robust advocacy program. What- Credit Union Foundation, credit unions will continue to gain ever the reason, my belief is you get out what you put in. a stronger footprint, both in our region and across the nation. Principle #4: Autonomy and Independence Cornerstone’s mission is to advance the success of cred- it unions. We are able to accomplish this through the vast array of programs and solutions available through Cornerstone, Resources and the Foundation. If you want to learn more about what’s available to you, you can fi nd the information on our website, and I would highly recommend you take advantage of our orientation program held in the spring and fall. Principle #5: Education, Training and Information Through Cornerstone, you have access to a wealth of professional development opportunities.