JUNE 2018 NEWS.CUNA.ORG Power Passion Positivity JONATHAN MILDENHALL CUNA’s America’s Credit Union Conference JEFF HENDERSON exclusive speaker interviews WHITNEY JOHNSON DANIEL LERNER Published by Credit Union National Association ORIGINATION INNOVATION FASTER LENDING TODAY. READY FOR TOMORROW. Lending 360 is the all-in-one loan and account origination system that delivers a world-class member experience. Featuring 1,800 decision variables analyzed in seconds, Lending 360 lets you create and automate workflows to transform your entire lending and member process. With an ever-increasing lineup of system integrations, it has everything you need today, while positioning you for success tomorrow. Experience the best of all worlds, where credit union insight meets transformative lending solutions. Start the journey at CUDIRECT.com/Lending360. June 2018 Volume 84 Ñ Number 6 FEATURES 22 Power, Passion, and Positivity Play where others aren’t. Find your passion. Embrace the power of positive emotion. Take a stand with your brand. These ideas and more will move your credit union forward during CUNA’s 2018 America’s Credit Union Conference. 28 The State of P2P Person-to-person (P2P) payments are the logical next step in digital services. But first, credit unions must solve the awareness problem many believe is holding this service back. 34 Loans on the Go An increasingly mobile society requires comprehensive mobile lending solutions. After all, we’re a society of convenience: We want it when we want it and how we want it. 4 CREDIT UNION MAGAZINE u JUNE 2018 u news.cuna.org FEATURES • High image quality • Fast speeds • Flexible and reliable feeding • Easy to install and use FROM CHECK SCANNERS TO DOCUMENT SCANNERS EVERYTHING YOU NEED TO STREAMLINE PROCESSES Meeting financial industry standards, our Canon imageFORMULA check scanners and thermal receipt printer can assist credit unions in all areas of check capture, including back counter, teller, remittance/lockbox and commercial remote deposit capture. For desktop scanning to centralized higher-volume scanning, our document scanners can quickly and easily scan business documents as part of your digital workflow! For more information, contact Bob Ladich, [email protected] or visit us online usa.canon.com/scanners Pg_5_Canon.indd 1 5/4/18 2:48 PM June 2018 LEADING EDGE TWENTYFOUR/SEVEN 12 Five steps to a workforce plan. 14 PRESIDENT’S PERSPECTIVE America’s Credit Union Conference will ready 42 Listerhill Credit Union launches a new branch the leaders of tomorrow. prototype. 16 TRENDLINES 44 TOOLS OF THE TRADE A recent attack on the credit union tax status All credit unions can provide mobile technology clearly is misguided. regardless of asset size. 18 SPOTLIGHT John Ainsworth, president/CEO of CULedger, BRANCHING OUT is a member-focused technologist. COMPLIANCE MATTERS in 46 Nine types of salespeople and their “superpowers.” 8 POSTAL INFORMATION 38 FinCEN issues a new FAQ for its Customer 10 ON MY MIND Due Diligence rule. 45 ADVERTISING INDEX 45 MARKETPLACE 40 RETHINKING THE ROTH IRA The elimination of Roth IRA conversion recharacterizations creates a new set of tax considerations for investors and advisers. 6 CREDIT UNION MAGAZINE u JUNE 2018 u news.cuna.org NOMINATE A CREDIT NN Do you know someone who embodies the credit union spirit of people helping people? Someone who is so creative, innovative and passionate that they push their entire organization forward? If so, nominate your peer as a Credit Union Rock Star! Submit your 2018 nominations before June 15, 2018, at news.cuna.org/nominaterockstar. Those selected as Credit Union Rock Stars will be featured in the October issue of Credit Union Magazine. SPONSORED BY news.cuna.org/nominaterockstar © Credit Union National Association 2018 RS2018_CUMAG_NOMINATEAD.indd 1 4/9/18 1:42 PM news.cuna.org VISIT OUR WEBSITE DURING JUNE FOR THESE ONLINE EXCLUSIVES. Special Report: America’s CU Conference CUNA’s 2018 America’s Credit Union Conference, June 28 to July 1 in Boston, will feature “experiential” ses- sions, an executive series, and four keynote speakers: EXECUTIVE COMMITTEE “Chef Jeff” Henderson, author and Food Network star; MAURICE SMITH • chairman, Raleigh, N.C. Daniel Lerner, happiness researcher; Jonathan Milden- BRETT MARTINEZ • vice chairman, Santa Rosa, Calif. hall, former Airbnb chief marketing officer; and Whitney Johnson, disruptive TROY STANG • secretary, Seatac, Wash. innovator. BRAD GREEN • treasurer, Sheffield, Ala. TONY BUDET • member-at-large, Austin, Texas Practice the art of ‘tinkering’ JIM NUSSLE • president/CEO, Washington D.C./Madison, Wis. If you’ve ever felt like you need to escape the PAT JURY • immediate past chairman, Des Moines, Iowa daily grind and make some changes in your life, try “tinkering.” This involves “repairing, adjust- ing, or working with something in an unskilled DIRECTORS or experimental manner,” says Jason Kotecki, DALLAS BERGL Ind.; PAT DRENNEN Iowa author, artist, and “professional reminder-er.” SCOTT EARL Colo.; CHARLES ELLIOTT Miss. It’s also a way to break free from those rules we believe we have to follow but don’t really exist—such as not eating dessert first. “Tinkering,” Kotecki says, “is like TERESA FREEBORN Calif.; GARY FURTADO R.I. an escape hatch for someone who feels like they’re stuck. Tinker, ask questions, LISA GINTER Kan.; ROGER HEACOCK S.D. and try things.” TOM KANE Ill.; DEBIE KEESEE Wash. MARIA LAVELLE Pa.; MARIA MARTINEZ Texas PATRICK PIERCE Minn.; FRED ROBINSON Tenn. Young professionals ‘bring the energy’ JOHN SACKETT Wis.; STEPHANIE SIEVERS La. In the early days of the credit union movement, there SCOTT SULLIVAN Neb.; JOE THOMAS Va. used to be parades celebrating the not-for-profits, says Chad Helminak, director of credit union devel- SCOTT WOODS S.C. opment and cooperative values engagement at the National Credit Union Foundation. “I think we can get back to that, or at least that ideal,” he says. “Young profes- sionals are key to bringing that energy back to credit unions.” LEADERSHIP JIM NUSSLE • president/CEO JILL TOMALIN • chief operating officer Unleashing a grassroots powerhouse MOLLIE BELL • chief engagement officer The overall goal of the CUNA Member Activation Program (MAP) is to inform and educate members on the credit RYAN DONOVAN • chief advocacy officer union difference, says Adam Engelman, CUNA grassroots TODD SPICZENSKI • chief products & services officer manager. MAP mobilizes credit union members as a grass- roots lobbying force to call their lawmakers. POSTAL INFORMATION Credit Union Magazine (ISSN 0011-1066) is published monthly for $80 per year by Credit Union National Association, 5710 Mineral Point Road, Madison, WI 53705. (Multiple-copy and multiyear discounts available.) Periodical postage paid at Madison, Wis., and additional mailing office. Copyright 2018 by Credit Union National Association. Photocopying is illegal and Do you know someone who embodies excellence unethical. POSTMASTER: Send address changes to in the credit union industry? Nominate them as a Credit Union Magazine subscription department, P.O. Box Credit Union Rock Star today! 461, Annapolis Junction, MD 20701-0461. Single issues are available; call 800-348-3646. SPONSORED BY news.cuna.org/nominaterockstar FOLLOW US: @CUMAGAZINE CREDIT UNION MAGAZINE u JUNE 2018 u iStock 8 news.cuna.org ON MY MIND MANAGEMENT ANN HAYES PETERSON vice president/editor-in-chief ‘I Love What I Do’ 608-231-4211 • [email protected] Credit Union Hero of the Year will be honored later this EDITORIAL STAFF BILL MERRICK deputy editor month at the America’s Credit Union Conference. 608-231-4076 • [email protected] MICHELLE WILLITS deputy editor 608-231-4067 • [email protected] This is the time of year our JENNIFER WOLDT senior editor two stellar programs intersect: Credit 608-231-4290 • [email protected] RON JOOSS Union Rock Stars and Credit Union senior editor 608-231-4321 • [email protected] Heroes. CRAIG SAUER senior editor Both programs—and the profes- 608-231-4918 • [email protected] sionals we meet as a result—serve ALEX McVEIGH senior editor as reminders that at our core, credit 202-508-6767 • [email protected] unions are a people movement. DESIGN & PRODUCTION Not a Wall Street movement. Not BEN TENORIO • digital media design specialist CARRIE DOYLE • graphic designer a shareholders’ movement. A people TREESA LANDRY • publishing specialist movement. ADVERTISING Later this month at CUNA’s 2018 JOE DAY vice president America’s Credit Union Conference, 608-231-5794 • [email protected] ANN HAYES PETERSON, MICHELLE DOSHER we’ll present our 2018 Credit Union 608-231-4006 • [email protected] Hero of the Year Award to Tom editor-in-chief LISA DUSHACK [email protected] 608-231-4220 • [email protected] McWilliams, senior vice president of Classified ads: THOMAS GERARD the Mississippi Credit Union Asso- 608-231-4257 [email protected] ciation. The award is sponsored by Members Credit Union, Cos Cob, fax 608-231-4263 Trellance. Conn. u EDITORIAL ADVISORY BOARD McWilliams has devoted his life Jeffrey Hayes, president/CEO, BRAD ASPGREN • American Airlines FCU, Fort Worth, Texas to developing training and education North Star Community Credit SANDI CARANGI • Mercer County Community FCU, Hermitage, Pa. MICHELLE HUNTER • CU of Southern California, Anaheim programs for credit union profession- Union, Cherokee, Iowa. KEVIN KESECKER • SECU, Linthicum, Md. u STEVEN LANGLEY • als. As the chairman and education Vicki Hoehn, vice president of Schools Financial CU, Sacramento, Calif. RICHARD S. MILLER • FeatherStone Planning and Consulting director for the Southeast CUNA community engagement, Royal PETER STEIN • Educators CU, Racine, Wis. Management School, he prepares Credit Union, Eau Claire, Wis. the next generation of leaders for You’ll find all of their remarkable MAILING ADDRESS the future. He loves the exponential stories at news.cuna.org. CREDIT UNION MAGAZINE P.O. Box 431 impact of his work—how educating Madison, WI 53701-0431 one leader can transform a credit Rock Star season SUBSCRIPTION SERVICE union and the lives of all the mem- Through June 15, we’re calling for SUBSCRIPTION DEPARTMENT P.O.