Marketplace Newsletter

In this issue:

CUNA Mutual Group: Ready and Able to Serve

A Message from KYCUL Services, Inc.

Member Access to Branch Services via Video During Covid-19 Restrictions 

Eltropy will waive Setup, Implementation and Platform fees for 90 days for all Kentucky Credit Unions

What Can Credit Unions Do to Bring A Positive Message in This Time of Fear

Urgent Needs Grant Available Through NCUA for Low Income Designated Federal Credit Unions 

Upcoming Webinars

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CUNA Mutual Group: Ready and Able to Serve

A Letter from CUNA Mutual President/CEO

CUNA Mutual Group Clients and Colleagues,

We are living in unprecedented times as the world continues to focus on and respond to ongoing developments related to the coronavirus (COVID-19). Like you, we continue to stay informed and are prioritizing actions that protect the health and safety of our customers, employees, partners and community members.

While many things are uncertain today, you can have confidence that we are here, ready and able, to serve your needs. While the majority of our employees have moved to remote work as part of our country’s social distancing efforts to help prevent the spread of COVID-19, we are fully equipped to continue to operate business and serve your needs through a virtual environment.

Additionally, rest assured that our company remains financially strong and stable and will continue to be here when you need us most. Our consistent financial strength and credit issuer ratings, capital position, and balance sheet are signs that we are well-positioned to navigate this storm. Below you’ll find links to our annual report, financial earnings press release, and our business resiliency plans and actions.

Lastly, our commitment to supporting our communities through this crisis is unwavering. Through the CUNA Mutual Group Foundation, we are providing support for education, emergency aid and economic stability. This week, we offered additional financial support to National Credit Union Foundation’s CUAid Disaster Relief Fund and announced a special employee match for emergency aid donations to support 501(c)(3) non-profit organizations.

In these turbulent times, we want you to know that you can count on us to be here when you need us most. We’ve made it through tough times before and we will get through this together.

Please take care and let our teams know if there’s anything we can do to help.

Sincerely,

Robert N. Trunzo
President & CEO
CUNA Mutual Group

Additional Resources:

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A Message from KYCUL Services, Inc

Kentucky Credit Unions,

These are difficult and trying times.  I am paying close attention to developments happening every minute during this crisis and I want you to remember that KYCUL Services is here for you as a resource.  It is especially important during this time that your credit union can provide uninterrupted service to your members.  That’s why I’ve put together a few articles from our partners that credit unions can implement immediately.  

If you have any questions regarding any of these offers, or need further information, you can always reach me by email at [email protected]  You may even call me on my cell phone at (502) 649-3576.  

Whatever I can help you with, I will.  Wishing you good health.

Warmest regards,

Laura Parrish
VP, Association Services

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Member Access to Branch Services via Video During Covid-19 Restrictions  

CUNA Strategic Services’ alliance provider, POPi/o, is ready to help address this challenge.  For a limited time, POPi/o is offering a limited number of FREE video seat licenses per credit union to provide web-based video collaboration for your members to contact the credit union. 

The POPi/o platform allows members to click on a link you post on your webpage, social media channels, or e-mails.  The member can interact with credit union staff to exchange documents including photo ID’s, review documents, and provide signatures to authorize new accounts, new loans, and address other urgent account needs.

Timing is essential, so POPi/o has agreed to work overtime to enable you to GO-LIVE to your members within just a few days. 

Please contact me at [email protected] for the link to learn more about this offer. 

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Eltropy will waive Setup, Implementation and Platform fees for 90 days for all Kentucky Credit Unions

Eltropy enables Credit Unions to communicate with members over Text Messaging in a secure and TCPA-compliant way.

Eltropy’s platform enables a variety of teams at Credit Unions, including Lending, Collections, Sales, Marketing, Service, Risk Management, Internal Communications, to leverage Text Messaging to boost member engagement and enhance the member experience.

During this pandemic, it's important that credit unions keep communication channels open for members.  That's why Eltropy will be waiving setup, implementation and platform fees for credit unions for 90 days for all Kentucky credit unions.  The only cost your credit union will bear is the "pass through" carrier text message fee of $0.01 per text.  

To start communicating with employees and members through a secure text channel, please contact Laura Parrish.  

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What Can Credit Unions Do to Bring A Positive Message in This Time of Fear

We are facing an unprecedented time in our lives with the coronavirus upon us and people taking every imaginable precaution to “be safe” and survive the aftermath. Having three sisters who are nurses and who love to give advice, the basic practices of good hygiene are essential and the best way to avoid this virus. That is as far as this article will go on any medical aspects of this issue.

With the wave of fear going on, it might be a great opportunity for credit unions to look at the financial aspects of this unprecedented time and determine what other ways that members could be supported.

Understanding that the healthcare industry is the leading industry for data breach and ID theft related issues (medical ID theft & fraud), perhaps it might be prudent to look for ways to protect members as they find themselves possibly spending more time in urgent care facilities or hospitals. Criminals know that these healthcare operations are extremely distracted by the potential number of patients which could unfold….hopefully, not….but these operations need to be prepared. For example, in 2019, 40 million Americans were affected by health data breaches.

Members might really appreciate a symbol of protection and concern from their credit union at this time. Although you can’t provide a medical solution to offer, you could provide basic protection against the threats of medical fraud attacks and provide increased member awareness to be on guard. For
those credit unions who might already have ID theft & fraud protection incorporated into services it is a fantastic time to remind members of these powerful services.

The coronavirus scams are already in full swing from the criminals and we can all expect it to only get worse as people continue to get bombarded with every imaginable negative news associated with this pandemic…driving up fear and uncertainty.

There are a wide variety of packaged solutions out on the market that incorporate fully managed ID theft & fraud recovery together with strong dark web monitoring to give members the ultimate safety net against criminal medical fraud & ID theft attacks. If nothing else, incorporating these kinds of
services signifies to members the intent to be protective in whatever means possible….and help calm fears. It might even be practical to provide these services at no cost to the members for an extended period of time, thus showing a sensitivity to the economic effects of all of this as well.

These unprecedented times call for unprecedented action and credit unions have a powerful voice with their members to guide them and offer a positive message of identity protection and safety while they are dealing with the potential medical dangers at the same time. Any kind of positive news at this time could be received by members in the most significant way and remind them how credit unions uniquely go beyond their walls to enhance the lives of those they serve.

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Urgent Needs Grant Available Through NCUA for Low Income Designated Federal Credit Unions 

Federally insured, low-income designated credit unions that experience unexpected costs as a result of COVID-19 can request an urgent needs grant from the National Credit Union Administration. 

NCUA Chairman Rodney E. Hood stated in a release on March 23, 2020 that, “If you are a low-income credit union that needs assistance during this difficult time, I encourage you to apply for these grants to ensure you can continue to meet the financial needs of your members and communities.” 

Check out this link for more details of the grant: 

https://www.ncua.gov/newsroom/press-release/2020/ncua-urgent-needs-grants-available-help-credit-unions-affected-covid-19

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Upcoming Webinars

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

Skills in Action - Coaching Conversations: Performance Coaching

4/2/2020 10:00 AM & 1:00 PM (CT)
Geared for busy managers and coaches, this 30-minute workshop provides a hands-on approach when trying to uncover the root cause of your employee’s performance. This interactive session, driven by you, the coach, gives you the opportunity to learn and apply strategies, including asking the right questions, to uncover the issue and reach a mutual solution. Registration is limited to 30.
Lending Resource Center/Live Events

Skills in Action - Confident Conversations: Member Education Tools

4/7/2020 8:00 AM & 10:00 AM (CT)
How can you proactively use a Member Education tool within your conversation? You've successfully established expectations, asked for an affordable payment, asked consultative questions and received the second commitment to the payment. Now you're ready to present the loan package. This interactive, learner-driven session gives you the opportunity to learn how to proactively position member education tools during the conversation to help your member see the value of what you're offering.* Registration is limited to 30.
Lending Resource Center/Live Events

Tough Conversations

4/9/2020 8:00 AM (CT)
As a coach, you can often find yourself faced with a tough conversation. How you handle these conversations will ultimately impact employee performance. Implement a proven model that will both change employee behavior and maintain a good working relationship.
Lending Resource Center/Live Events

Performance Coaching

4/14/2020 1:00 PM (CT)
Ever wonder why your employees are performing below expectations? Analyze the situation to close the performance gap and identify solutions to positively impact behavior.
Lending Resource Center/Live Events

Office Hours – Payments / Deposits

4/15/2020 1:00PM (CT)
Join our Risk Consultants and your credit union peers to ask questions regarding the latest risks, loss trends, and mitigation tips in the payments and deposits landscape.
Protection Resource Center Webinars & Education

Member Focused Conversations: Guide with Confidence, Part 1

4/21/2020 8:00 AM, 10:00 AM, & 1:00 PM (CT)
Your members expect to be educated and guided through each step of their financial journey. There is no way to tell when an unexpected life event may occur, and it can have an immediate impact on their financial well-being. In Part 1, we’ll play The Money Game which allows you to see the impact of a disability or death on a member and their family and the difficult decisions they may need to make during an already tough time.
Lending Resource Center/Live Events

Member Focused Conversations: Guide with Confidence, Part 2

4/22/2020 8:00 AM, 10:00 AM, & 1:00 PM (CT)
Go the extra mile. Member Focused Conversations, Part 2 focuses on using consultative questions and breaking down each part of a conversational process. It’s all about using the process consistently to provide your members with a customized, needs-based solution. 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.*
Lending Resource Center/Live Events

Member Focused Conversations: Guide with Confidence, Part 3

4/23/2020 8:00 AM, 10:00 AM, & 1:00 PM (CT)
Part 3 of Member Focused Conversations takes the consultative conversation to a new level. In this session, we focus on personalizing benefits to the member and their unique situation. We will go beyond a generic benefit to pursue a richer more personalized benefit to the member. This will ensure your members see the value and why payment protection is so important. . .to them! Go the extra mile.*
Lending Resource Center/Live Events

Skills in Action - Coaching Conversations: Coaching in the Moment

4/28/2020 10:00 AM & 1:00 PM (CT)
Don't wait for the end of the week or month for a formal coaching conversation to take place. Coach in real time and see quicker results. Geared for busy managers and coaches, this 30-minute workshop provides a hands-on approach to reflect and practice on-the-spot and on-going coaching techniques to motivate high and low performers to succeed. Registration is limited to 30.
Lending Resource Center/Live Events

Addressing Concerns: Close the Case

4/30/2020 8:00 AM, 10:00 AM, & 1:00 PM (CT)
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.*
Lending Resource Center/Live Events 

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