Marketplace Newsletter

IN THIS ISSUE:

Give Your Members Great Discounts on TurboTax

Prepaid gift cards are the simplest way to make the holidays sweeter

New Sprint Promotions

Baby, It's Cold Outside!

Next-Generation Cyber Attacks Call for Next Generation Solutions

CO-OP Financial Announces Mobile Banking 3.0, Featuring Advanced Biometric Security and Other Upgrades

CUNA Strategic Services and CU RateReset Partner to Bring New Software Solutions to Credit Unions and their Members

ScoreCard Rewards Q4 2017 Promotion

John M. Floyd & Associates (JMFA) Announces a New Regional Director

Upcoming Webinars


 

TurboTax

Give Your Members Great Discounts on TurboTax

It’s hard to believe tax season is just around the corner. The Love My Credit Union Rewards program has teamed up with TurboTax to offer your credit union members a savings of up to $15 on TurboTax federal products.

TurboTax is America’s #1 online tax preparation service used by more than 34 million consumers last season. TurboTax provides a secure, easy way for your members to get their taxes done right with maximum refund guarantees.

New this season:

  • The Self-Employed product maximizes business deductions, handles personal and business income, and comes with a one-year subscription to QuickBooks.
  • The TurboTax Live product provides CPA/EA assistance and advice on demand. Connect as often as you like for tax tips, support and a final review by hand.

Other great features include:

  • CompleteCheck™ - Provides a comprehensive review of returns and walks members through any changes to make sure nothing gets missed.
  • SmartLook™ – Members can connect with an expert right on the screen to get answers when they need them.
  • Sweepstakes – If your credit union participates, members can enter the $25,000 TurboTax Sweepstakes when they start their return by February 15! They are eligible for one grand prize of $25,000 or one of 12 prizes of $1,000 each!

Great Benefits for your Credit Union:

  • Build member loyalty and enhance the value of membership.
  • Capture refunds as investments and low-cost deposits:
    • Over $238B in refunds were directly deposited into financial institutions last tax season.
  • Add new recurring revenue streams by promoting and cross-selling your products and services on your TurboTax microsite.

Don't miss out on the savings for your members and great benefits for your credit union! Click here to enroll now.

LMCU-Rewards-4C-small

To learn more about the LMCUR TurboTax program, join us for an upcoming webinar. Click on a link below to register:

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LSC     LSC Prepaid Gift Cards 

Prepaid gift cards are the simplest way to make the holidays sweeter    

This holiday season, you can help your members spread joy to all their friends and family with CUMONEY® Visa Gift Cards from LSC®.

There is still time for your credit union to receive up to 50 holiday-themed gift cards. When you sign up and place your card order by November 15, 2017, you'll receive up to 50 holiday-themed gift cards, including shipping, for FREE! 

  • FREE start-up and no annual fees for non-branded cards
  • LSC handles all back-office operations
  • Retail price is up to you

Now is the time to make sure you have plenty of holiday gift cards on hand to help your members make the holidays a little sweeter for everyone! 

To receive more information on the LSC gift card programs features, benefits and pricing, contact Jim Feldkamp at This email address is being protected from spambots. You need JavaScript enabled to view it. .

If you're interested in branding your gift cards with your credit union's name and logo, click here to read how two credit unions have had success with this option.

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Sprint Black Fin Yellow

New Sprint Promotions

New marketing materials are now available in the Partner Center to help your credit union promote Sprint’s new, best offers to your members.

  • Carrier Comparison Chart
    • To help promote the Sprint Credit Union Member Cash Rewards program and highlight the benefits of switching to Sprint, a carrier comparison chart will be available in the Partner Center. It shows how Sprint stacks up against the competition – Verizon, AT&T and T-Mobile, and demonstrates how much members could save by switching to Sprint.
  • New Price for Unlimited From SprintSprint Banner for newsletter Oct2017 222x222
    • Members can score the Unlimited plan for $20 per month per line when they add five lines. That’s five lines of Unlimited for only $100 per month! It’s the best price for Unlimited, and 50 percent off Verizon, AT&T and T-Mobile Unlimited rates for a family of five!
  • iPhone 8 Trade-In
    • An awesome plan deserves an awesome phone, so now, your members can save up to $350 on an iPhone 8 with Sprint Flex and an eligible trade-in. Credit union members also get 25 percent off accessories!

Plus, these deals can be stacked with the Sprint Credit Union Member Cash Rewards program! Credit union members can receive a $100 cash reward for every new line they activate with Sprint and a $50 cash reward for every line transferred into the program.

Visit LoveMyCreditUnion.org/Sprint for details and visit the Sprint Marketing Materials Section of the Partner Center to access free marketing materials.

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CSCU FIS LOGOSBaby, It's Cold Outside!

Winter is coming and that means temperatures are going to drop! But don't leave your members out in the cold. Help them bundle up their debit with the 2018 Post Holiday Balance Transfer Promotion from CSCU.   

Encourage your new and existing cardholders to use their Credit Union credit card to transfer balances from other financial institutions with the Bundle Up Your Debt Balance Transfer Promotion. 

BUNDLE UP

Members can bundle up debt by moving their balances to your low-interest rate card.

 

You're Getting Warmer...

Click here

Place your order or see more information. ORDER DEADLINE: November 9th.

There is NO COST for Optimize Portfolio Growth Solutions (PGS) members. PGS members are automatically enrolled in this promotion. To find out more about the Optimize Portfolio Growth Solutions Program, email This email address is being protected from spambots. You need JavaScript enabled to view it.

 

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Next-Generation Cyber Attacks Call for Next Generation Solutions

Earlier this month, a massive security breach at consumer credit reporting agency, Equifax, left 143 million consumers scrambling to protect their identity. As cybersecurity threats continue to evolve in both sophistication and scale, the need to safeguard your credit union’s reputation and member data has never been more critical.

While much is being done to combat these attacks, credit unions must learn to be nimble and prepare for how the next generation of technology will impact cybersecurity. According to a recent survey of hackers who attended the 2017 Black Hat Conference, the easiest and fastest way to access sensitive consumer data is through a privileged account, email account, or a user’s endpoint, such as a laptop or desktop computer.1

Consider the following tips to bolster your credit union’s cybersecurity efforts.

Develop a forward-looking cybersecurity methodology focused on expanding efforts to stay ahead of current threats versus maintaining a program that is merely compliant, or one that has been successful in the past.  

Establish strategies to access and analyze the latest threat intelligence to help prioritize information security budgets and enhance internal technologies, so you can defend against threats from:

  • Ransomware
  • DDoS attacks
  • Phishing and malware scams
  • Amplified vulnerabilities in mobile and Internet of Things (IoT) platforms
  • Unpatched corporate software or insufficient security technology  

Ensure the correct employee skillsets are in place. Changes in cybersecurity may require you to train existing employees on desired skillsets or bring on new talent. Keep in mind that hiring for employees with specific security skillsets can be extremely competitive, so you may want to have a plan in place for attracting data and analytics experts.

Capitalize on cyber threat intelligence (CTI) resources and advanced detection technologies to predict how certain threats or attacks are evolving and what perceived vulnerabilities are being targeted.

CTI provides critical information about cyber threat capabilities and how to prevent attacks. Organizations that leverage the expertise of professionals to review industry-specific data from trusted sources like vendor partners, Information Sharing and Analysis Centers (ISACs), and the United States Computer Emergency Readiness Team (US-CERT), have been able to effectively protect and support their cyber environment.

Additionally, organizations may be able to respond even faster to threats by using advanced detection technologies such as Artificial Intelligence (AI). As a broad cybersecurity concept, AI applies to the idea that machines are capable of cognitive functions such as anomaly detection and classification. Machine learning uses special data and algorithms to identify risks and develop solutions, providing a more-informed response than traditional rule-based security programs.

When it comes to protecting your credit union’s reputation, assets, and data, a robust, multi-layered security strategy is critical. While advanced technologies like CTI and AI may improve detection and response, no technology can account for employee mistakes. You must establish a cybersecurity plan that combines what works today, what advances will help tomorrow, and how your well-informed and trained credit union staff can effectively deal with next-generation threats.

SOURCE:

  1. Thycotic, 2017 Black Hat Hacker Survey, September 2017.

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Co-Op LogoCO-OP Financial Announces Mobile Banking 3.0, Featuring Advanced Biometric Security and Other Upgrades

New Enhancements to CO-OP Mobile and Sprig by CO-OP Apps Include Touch ID Authentication, and Advanced Payment Notification and Scheduling Options

CO-OP Financial Services is announcing Mobile Banking 3.0, bringing powerful new features to the company’s advanced mobile banking product line.

Mobile Banking 3.0 is available for the CO-OP Mobile custom-branded credit union app and the Sprig by CO-OP turnkey mobile banking app. Upgrades include Touch ID authentication and expanded payment options that make transactions fast, secure and seamless for members wherever they go.

“Top of mobile is top of wallet today as consumers expect to be able to manage their money 24/7,” said Todd Clark, President/CEO of CO-OP Financial Services. “P2P payments specifically are growing by nearly 50 percent year over year, making it critical for credit unions to offer leading-edge technology in this space.  CO-OP’s Mobile Banking 3.0 serves today’s digitally-minded consumers with a suite of advanced tools that deliver the speed, convenience, and security they require.”

Biometric Security and Custom Settings

The release of Mobile Banking 3.0 gives users of CO-OP Mobile and Sprig the added security of Touch ID fingerprint authentication. In addition to more secure transactions, the technology eliminates the need for passwords, making mobile payments fast and easy for members.

Mobile Banking 3.0 also offers push notifications for scheduled payments, which automatically notify members when transfers are completed. Push notifications can be set for any payment generated in CO-OP Mobile or Sprig, including processing and delivery tracking of RealPay by CO-OP immediate P2P payments.

New P2P Enhancements

CUNA STRATEGIC SERVICES

With the release of Mobile Banking 3.0, scheduled transfer options are now available for RealPay payments made within both CO-OP Mobile and Sprig. This newest enhancement allows daily, weekly and monthly transfers to be scheduled right from the member’s smartphone.

“What members expect today digitally has been shaped by tech giants like Google, Apple, Facebook, and Amazon,” said Clark. “CO-OP is a digital-first organization, and Mobile Banking 3.0 technology is built on our digital infrastructure. In addition to providing a superior mobile experience for members, our mobile banking apps connect credit unions into our digital ecosystem, making it easier for them to offer CO-OP Shared Branching and other services to members.”

For more information, visit www.co-opfs.org.

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CUNA Strategic Services and CU RateReset Partner to Bring New Software Solutions to Credit Unions and their Members

CUNA Strategic Services announced a new strategic alliance with CU RateReset. CU RateReset provides credit unions with a simple and easy solution to retain existing loans and generate more loans while giving their members more power over products.

“CUNA Strategic Services is demonstrating our confidence in CU RateReset and the value its services can provide to credit unions by adding them to our line-up of trusted providers as well as establishing an ownership interest in CU RateReset,” says Eric Gelly, President of CUNA Strategic Services. “We are looking forward to bringing our credit unions solutions that will create an engaging member experience, improve operational efficiencies and increase revenue streams while retaining existing loans and broadening relationships with members. Collaborations like ours with CU RateReset are critical to assisting credit unions in their digital transformation.”

CU RateReset’s three primary solution programs are:

Reset – for Auto, Mortgage, Credit Cards, CDs, and Personal Loans:

CU RateReset enables members to reset existing financial products they have with a credit union without the cost and hassle of refinancing. Credit unions select members for inclusion in the program based on their own internal requirements while CU RateReset automates the member outreach, reset and the closing documentation. CU RateReset also automates loan and CD retention so member advocates can focus on expanding existing and developing new member relationships.

LoanGEN – for Loan Acquisition and Recapture:

This service allows credit unions to re-capture member mortgages, auto loans, personal loans and credit cards at other financial institutions as well as showcase products to attract new members. Members can design their custom auto payment and move their existing loans over to your credit union.

Digital Pre-Approval - for Credit Card, Auto Recapture, Home Equity Loans and new CD’s:

Credit unions can select members to receive offers and submit data to CU RateReset. A Personal URL is then created and placed into an email, traditional mail, social media or text message.

“The current process for loan acquisition and retention is extremely inefficient and, in the case of loan retention, can be nonexistent, and presents a significant business opportunity,” said Joe Brancucci, President of CU RateReset. “CUNA Strategic Services recognizes this opportunity and we are delighted to work together to leverage our strengths and bring greater innovation to the marketplace. This is a very positive development for our organizations and the credit union movement.”

 

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FISScoreCard Rewards Q4 2017 Promotion

ScoreCard Advertisement Promotion

FIS™ is excited to announce their Q4 promotion for ScoreCard® clients. Cardholders love ScoreCard Rewards and one way to inform them about the program is through your website.

How are you advertising ScoreCard Rewards? Email screenshots of your institution promoting ScoreCard Rewards on your website to This email address is being protected from spambots. You need JavaScript enabled to view it. by December 31, 2017. On January 15, 2018, they will award one client an Apple® iPad to use at their discretion. Contact your League Client Relations representative with additional questions.

Cardholder Engagement Through Direct Mail

FIS has funded efforts this year to send unengaged ScoreCard cardholders several direct mail postcards. Results have been successful. The number of cardholders registering on the website and logging in through single sign-on (SSO) has increased. This has amplified card usage and raised program awareness with cardholders.

Because of the success during 2017, we will continue distributing postcards throughout the holiday season. Our October postcard is fall-themed and highlights new additions to the merchandise catalog. The November postcard is also holiday-themed and highlights seasonal merchandise to cardholders. Each postcard will feature a sweepstakes for cardholders, to redeem during a promotional period.

12 Days of Giveaways

In the spirit of the holidays, ScoreCard Rewards is planning another promotion for cardholders who redeem during November. Cardholders who redeem merchandise during November will be entered into a drawing for great prizes, to be awarded from December 1 to December 12. Additionally, cardholders that redeem during the December 1 to December 12 timeframe will have the opportunity to win 12 additional prizes.

A total of $20,000 in prizes will be awarded, including an Apple iPad and a Samsung® television. The prizes reflect the great products available in the ScoreCard Rewards catalog. The giveaway is fully funded by ScoreCard, and is a great way to showcase the program.

Expedited Shipping for the Holidays!

Expedited shipping is another great option being added to ScoreCard Rewards just in time for the critical holiday season. November 12 is the anticipated launch date, and the feature includes two new shipping options: Premium (Next Day/1 - 2 Days) and Upgraded (Second Day/2 - 3 Days). Both are subject to different point redemption tiers.

These options will be available for all in-stock, warehoused merchandise items except drop-ship, split tender, in-store pickup, digital or cash awards and gift cards. Additional point redemption from cardholders is required, based on the shipping option selected, shipment location and the weight of the item delivered. 

ScoreCard Rewards and Premium Payback

Did you know ScoreCard Rewards has options that allow cardholders to redeem points, in real-time at the Point-of-Sale (POS)? Institutional benefits include:

  • A lower cost rewards strategy
  • Higher interchange
  • More active and engaged customers
  • Added value for customers, increasing brand loyalty and leading to top-of-wallet status

How does this work? It’s simple! The network links their card to participating BP™ Station outlets. Cardholders use their ScoreCard Rewards debit/credit card on daily purchases to earn points. Then, when they use their ScoreCard Rewards debit/credit card at a participating BP station fuel pump, it will prompt them to redeem points for a $0.50 per gallon discount (eligible for up to 20 gallons). Spend, earn and redeem – All in real-time!

In Q4, a new campaign is being launched to promote this option to cardholders. Your credit union will be provided the marketing materials to promote this campaign to your members. In support of this program, there will also be digital campaigns, public relations and other marketing initiatives, including direct mail in select markets. Get your card top-of-wallet status through offering an innovative redemption option to your cardholders. For additional information, contact your Client Relations representative.  

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 Brad Davislogo jmfa

John M. Floyd & Associates (JMFA) Announces a New Regional Director

John M. Floyd & Associates (JMFA), a profit-improvement consulting firm for banks and credit unions, announced today that Brad Davis has joined the company as a regional director. He will be responsible for client services and consulting in Tennessee, West Virginia, and Kentucky.

Davis joins JMFA with more than 30 years of sales and client retention success in the financial services industry, primarily serving clients in the southeastern United States. With deep experience in technology and other critical operational systems as a result of his past senior sales executive positions with Fiserv and FIS, Davis will help JMFA clients address compliance issues, strengthen account holder retention and assist them with improving their overall performance. Additionally, his software background will benefit clients using JMFA OVERDRAFT PRIVILEGE® to recover lost revenue due to regulatory changes, while providing their account holders with a fully disclosed overdraft protection solution.

“We welcome Brad’s extensive operational expertise to our team of performance and profitability experts,” said JMFA Chairman and CEO John M. Floyd. “His knowledge of technology solutions will be very valuable to financial institutions in his territory. Plus, his familiarity with the Southern region gives him tremendous insight into the types of challenges and opportunities that credit unions in that area are facing.”

Davis holds a Bachelor of Science degree in Business Administration from Liberty University in Lynchburg, Virginia. He can be reached at 615-339-3026 or This email address is being protected from spambots. You need JavaScript enabled to view it. .

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Come Learn With Us

Upcoming Webinars

Come learn with us and jump-start your success with interactive webinars featuring cutting-edge information from experienced facilitators that help you understand not only product details but how to achieve financial success, reduce your risks, and better serve your members.

To register for any of these webinars, please go to https://www.cunamutual.com/resource-library/webinars.  

11/7/2017 10:00 AM, 2:00 PM (CT)

Member Focused Conversations: Guide with Confidence, Part 1

Members are looking for someone to provide them financial guidance. Even if your members are doing well right now, the unexpected can have an immediate impact on their financial well-being. Part 1 focuses on helping your member feel the impact through a Money Game as they make difficult decisions during an already tough time.

11/8/2017 10:00 AM, 2:00 PM (CT)

Member Focused Conversations: Guide with Confidence, Part 2

Go the extra mile. Part 2 focuses on using consultative questions and a consistent process to provide your members with personalized solutions. Be committed to being your members' trusted financial consultant. If you don't take the opportunity to guide your members, they will look elsewhere for the guidance they need.*

11/9/2017 10:00 AM, 2:00 PM (CT)

Member Focused Conversations: Guide with Confidence, Part 3

Part 3 builds on what you learned about a member-focused conversation and takes it to a new level. You won't simply present benefits, you'll personalize them, helping your members to see the value and why payment protection is so important... .to them!. Go the extra mile.*

11/14/2017 12:00 PM (CT)

Recognizing Performance

When employees know and use their strengths, they're more engaged and have higher performance. Increase employee performance through the use of targeted recognition strategies.

11/15/2017 10:00 AM (CT)

Emerging Risks on the Radar

When risk management is effective, nothing bad happens. But if you’re blindsided by a problem, the lack of risk management takes the blame. By recognizing existing risk and anticipating the new, emerging ones; you can minimize losses and confidently safeguard your organization. Learn key insights about the latest risks, trends, and losses impacting credit unions.

11/15/2017 1:00 PM (CT)

Emerging Risks: A focus for smaller CUs & BOD

Not all credit unions, or risks impacting them, are the same. Learn about the risks and loss trends that are impacting credit unions in the smaller asset categories. Without dedicated resources, managing emerging risks can be one of your biggest challenges. This session will focus on what you may want to monitor and prepare for in the coming year. 

11/16/2017 12:00 PM (CT)

Performance Coaching

Ever wonder why your employees are performing below expectations? Analyze the situation to close the performance gap and identify solutions to positively impact behavior.

11/30/2017 10:00 AM, 2:00 PM (CT)

Addressing Concerns: Close the Case

What if the member asks a question or raises a concern? Don't let this question stop you any longer from educating your members on payment protection. Confidently address four common member questions and concerns related to payment protection.*

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Marketplace Archives

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Kentucky Credit Union League
3615 Newburg Rd.
Louisville, KY 40218

Call: 502-459-8026 or 800-333-5285
Fax: 502-459-0189
Email: kycul@kycul.org