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Perspectiveswinter 2016 VolumeWinter 11, Issue 2016 1 PerspectivesThe Official Magazine of the Cornerstone Credit Union League PEOPLE HELPING PEOPLE Cooperative Outreach at Work convenience relevance network scalability security MAKING SIMPLE innovation accessibility revenue locations ATM Greater convenience. Enhanced security. The latest technology. One partner empowers you to deliver it seamlessly. Shaped by an Card Payments unmatched level of consumer insights, every CO-OP solution lets you Connect deliver relevant, timely products and services, many conveniently linked through CO-OP Connect—the only credit union owned, real-time CO-OP Member Center good funds network. Simplicity starts here—CO-OPfs.org/solutions Engagement Security Innovations © 2015 CO-OP Financial Services CF15156_Brand_Perspectives_8375x10875_r00.indd 1 12/9/15 4:59 PM 12/9/15 CF-15-156 Seasonal Brand Trade Ad Perspectives r0 7.625" x 10.375" 8.375" x 10.875" 8.625” x 11.125” CMYK 100% 100% CONTENTS 3 CEO's Column 5 Chairman's Column insideVOLUME 11, ISSUE 1 6 Driving Strategic Planning 9 Why Our Members Save and Borrow Elsewhere 10 Credit Union Differentiation convenience at Its Finest 13 Uber and Similar Services May Pose Risk to Vehicle Loan Collateral 15 Texas Congressman Will Hurd relevance Supports Credit Unions 17 An Inside Look at Cornerstone Councils network 19 The Cost of Turnover Among Cornerstone Credit Unions 20 Are Your Credit Union's Background 6 Checks Legal? Driving Strategic 23 5 Common Compliance Myths Planning scalability 24 What If We Voted for Our Credit security Union Leaders? MAKING 26 Why CUs Should Have a Strong Social Media Presence 29 Shared Branching at Forefront 20 of CU Member Service Are Your Credit 30 “Know, Like, and Trust – Great Union's Background Relationships Built to Last” Checks Legal ADVERTISERS Inside Front Cover CO-OP Financial Services SIMPLE innovation Inside Back Cover Diebold Back Cover CUNA Mutual 2 Level5 accessibility 4 Cornerstone Credit Union Foundation revenue 6 Credit Union Resources Strategic locations Planning 26 8 Credit Union Resources Executive Why CUs Search Should Have 12 INTECH Know,30 Like, and a Strong Social 14 JMFA Trust – Great ATM Greater convenience. Enhanced security. The latest technology. 16 Love My Credit Union Rewards Media Presence One partner empowers you to deliver it seamlessly. Shaped by an 18 Digital Benefit Advisors Relationships Card Payments unmatched level of consumer insights, every CO-OP solution lets you 21 TransFund Built to Last Connect deliver relevant, timely products and services, many conveniently linked 22 Harland Clarke through CO-OP Connect—the only credit union owned, real-time 24 Credit Union Resources Technology CO-OP Member Center good funds network. Simplicity starts here—CO-OPfs.org/solutions Solutions Engagement 27 PhaseOne 28 CU Members Mortgage Security Innovations 31 Sprint 32 Credit Union Resources Expert Volume 11, Issue 1 Perspectives 1 Solutions © 2015 CO-OP Financial Services CF15156_Brand_Perspectives_8375x10875_r00.indd 1 12/9/15 4:59 PM 12/9/15 CF-15-156 Seasonal Brand Trade Ad Perspectives r0 7.625" x 10.375" 8.375" x 10.875" 8.625” x 11.125” CMYK 100% 100% 2 Perspectives Volume 11, Issue 1 CEO’S COLUMN Editorial Kimber Cockrill (512) 853-8512 Advertising Tracy Florida (469) 385-6641 Subscriptions Sue Epperson (469) 385-6688 Staff Dynamic Unification = Contributors Carrie Buchholz, Doug Foister DYNAMIC INTERDEPENDENCE Karen Houston-Johnson Kim Jones, Courtney Moran We've heard a lot of talk recently about dual affiliation and interdependence Deborah Rightmire, Carla Trager as it relates to association membership structure. As someone who's been in Paula Upchurch the industry for 52 years, I've heard myriad arguments from people with differing views. From my perspective, however, one reason in particular shines Contact Us 4455 LBJ Freeway, Suite 1100 Farmers Branch, TX brightest in support of a unified system of credit unions, the League, and CUNA. 75244-5998 In 1934, leagues created CUNA so that we could marshal our resources and cornerstoneleague.coop have one strong voice in Washington, DC, rather than 51 leagues patrolling the Main: (469) 385-6400 halls of Congress and regulatory agencies with limited resources and differing [email protected] messages. The credit union movement still needs robust voices of expertise, but those of us in PERSPECTIVES is a quarterly publication of the the states can't do that as effectively from so Cornerstone Credit Union League and is offered far away—I'm referring not to geography but to affiliated credit unions as a dues-supported experience, knowledge, and influence. That service. If you are not an employee or volunteer of a Cornerstone-affiliated credit union and would synergistic national leadership in one body will like to subscribe to this publication, an annual enable us to more efficiently battle current and subscription rate of $20 is available. future legislative and regulatory burdens instead of getting rolled beneath the wheels of the powerful bankers lobby. BOARD OF DIRECTORS The powerhouse 1-2 punch of advocacy and REGION 1 • SOUTHEAST TEXAS compliance is another critical reason to embrace Treasurer James S. Tuggle, Transtar FCU, Houston dual membership. With Cornerstone's unified Chairman Kenny C. Harrington, MemberSource CU, Houston Paul Withey, Members Choice CU, Houston system, credit unions are a force to be reckoned with, not only on the Hill, but in Arkansas, REGION 2 • SOUTH CENTRAL TEXAS Oklahoma, and Texas. As a consequence, our Carol Murray, Express-News FCU, San Antonio JoBetsy Tyler, First Central CU, Waco influence in the financial industry has grown and Paul A. Trylko, Amplify FCU, Austin matured; and as we address each challenge going forward, this unification will prove even more valuable. REGION 3 • WEST TEXAS Nancy M. Croix-Stroud, First Class American CU, Fort Worth Like Cornerstone, CUNA has a packed agenda to work through on behalf Robert C. Peterson, One Source FCU, El Paso of credit unions. In 2016, our issues will include: James L. Boyd, Abilene Teachers FCU, Abilene • CFPB's potential overdraft rule and Small Biz Review panel REGION 4 • OKLAHOMA • CFPB's proposed rule for payday and other small-dollar lending Jason C. Boesch, Energize CU, Oklahoma City Gina Wilson, Oklahoma Central CU, Tulsa • CFPB's potential debt collection rule Vice Chairman Michael D. Kloiber, Tinker FCU, Oklahoma City • FASB credit impairment proposal • NCUA examination issues REGION 5 • ARKANSAS • NCUA’s CUNA-supported field-of-membership proposal Secretary Windy K. Campbell, Arkansas Employees FCU, Little Rock Sherry Gray, Northeast Arkansas FCU, Blytheville • NCUA’s member business lending proposal Linda Stanton, Union Pacific of Arkansas FCU, North Little Rock • NCUA’s interest on lawyer trust accounts rule • NCUA’s risk-based capital rule REGION 6 • NORTHEAST TEXAS Z. Suzanne Chism, Texas Health Resources CU, Dallas • U.S. Department of Labor’s overtime pay proposal L. Wayne Mansur, Texoma Community CU, Wichita Falls • Cybersecurity issues Jim Brisendine, Resource One CU, Dallas • Regulatory relief EX-OFFICIO For 82 years, the tight structure of leagues working hand in hand with Richard L. Ensweiler, President & CEO, Cornerstone Credit Union League CUNA has made us a tremendous force. I thank you for being a Cornerstone/ CUNA member. Together, we are stronger! ASSOCIATE DIRECTORS Joshua Atkinson, United Community CU, Galena Park Dick Ensweiler, President/CEO Curtis Collins, JSC FCU, Houston Nikki Moore, Space City CU, Houston Cornerstone Credit Union League Volume 11, Issue 1 Perspectives 3 CHAIRMAN’S FORUM The Juntos Avanzamos Advantage his year marks the beginning of our 11th year of Perspectives Magazine, and this issue is all about outreach. So, let me talk for a moment about a program near to our hearts, Juntos Avanzamos, or Together We Advance—because isn’t that what credit unions are all about? Advancing— you, me, credit unions, our members—all together? By now, you are familiar with Cornerstone’s Juntos Avanzamos initiative, which recognizes credit unions committed to serving and empowering Hispanic Tand immigrant consumers. These markets are historically underserved by the financial mainstream, and the Juntos Avanzamos designation tells those unbanked and underserved in the Hispanic community that they have a place with credit unions. According to U.S. Census, the nation’s rising minority population makes up 35 percent of the U.S., advancing an unmistakable trend that could make minorities the new American majority by midcentury. There’s no question that credit unions can find a significant growth advantage by effectively offering their services to the Hispanic population. Originally launched in 2005 by the Texas Credit Union League as an immigrant outreach program for credit unions in Texas, our Juntos Avanzamos effort spread to Arkansas and Oklahoma with the birth of Cornerstone Credit Union League. It has now expanded even further. We are excited to collaborate with other credit union leagues and associations beyond the Cornerstone region. Led by the National Federation of Community Development Credit Unions, the program’s national expansion initially focuses on the Southwest, where it is supported by the California and Nevada Credit Union Leagues, the Credit Union Association of New Mexico, and Mountain West Credit Union Association. At the time of this printing, Juntos Avanzamos includes 32 credit unions in Arkansas, Oklahoma, [O]ne thing I know: the only and Texas, and an additional 13 designees have been “ approved in Arizona, California, New Mexico, and ones among you who will be really Washington State. Due to the overwhelming success of this program, we expect many more credit unions happy are those who have sought to join in 2016. Will you be one of them? and found how to serve. The Juntos Avanzamos program has been made —” Albert Schweitzer possible by a community investment fund known as the Richard L. Ensweiler Fund, which was created by the Cornerstone Credit Union Foundation and honors his deep commitment and passion to Hispanic outreach.
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