Behind the Vault

Join us for a special conversation with James Robert Lay, founder and CEO of the Digital Growth Institute and author of Banking on Digital Growth and Banking on Change. In this episode, James Robert shares:

* Why consumer behavior is driving financial services transformation

* The importance of continuous reinvention in the face of exponential change

* How to overcome resistance to change within your organization

* The power of shorter time periods for driving progress

Whether you're a community bank, credit union, or fintech leader, this episode offers invaluable insights on positioning your organization for success in a rapidly evolving landscape. Listen to learn how to cultivate a culture of continuous improvement and innovation that will keep your institution relevant in the years to come.

01:27 James Robert's Journey into Financial Services

03:43 The Evolution of Consumer Behavior in Financial Services

12:30 Opportunities and Examples of Industry Transformation

26:13 The 90-Day Growth Method

32:13 Advice for the Frustrated

36:29 Resources

For more information, and for James Roberts' books:

https://www.jamesrobertlay.com

https://www.bankingonchange.com

In this episode, Andrew Sagliocca, CEO of Esquire Bank, shares the unique journey of building a specialized bank focused on serving a narrowly defined customer. Andrew shares the challenges and strategies involved in differentiating their unique offerings and go-to-market strategy, including overcoming regulatory hurdles to develop tailored technology solutions. He provides insights into the bank's approach to understanding its target market, building trust with clients, and leveraging fintech partnerships to enhance its services.

Highlights/Topics:

• Esquire Bank's origin and focus on the litigation vertical
• Challenges in valuing and lending against contingent legal assets
• The importance of understanding the legal industry's specific needs
• The non-obvious expansion into merchant services and why it made perfect sense
• The role of technology and customization in serving niche markets
• Approach to fintech partnerships and cooperation vs. competition
• Strategies for building trust and providing value beyond traditional banking services

Links discussed:

* Esquire Bank

* The group's investor relations and reports

* Andrew Sagliocca's LinkedIn profile

* Eric Bader's LinkedIn profile

Orange County's Credit Union is much more than the municipality of its namesake. In the past five years, the Credit Union has undertaken a growth strategy, vastly expanding its Southern California presence and adopting a nationwide membership field for its digital banking channels. Kathy Jumper, President and CEO, shares with us the approach they are taking and how her wide and varied background in banking and credit unions informs their execution.

This episode is for anyone looking to understand the strategies driving growth in modern community financial institutions.

Highlights from our discussion:

* From municipal employee credit union to a nationwide field of membership

* Commercial real estate and business lending as a differentiator

* The relative role digital plays in growth plans

* The linchpin of digital account opening and self-service

* A unique career spanning community and large banks and credit unions

* The questions that will impact future success

For more info:

-Orange County's Credit Union

-Kathy's LinkedIn

Join us for a masterclass in innovation with April Clobes, CEO of Michigan State University Federal Credit Union (MSUFCU). In this episode, April reveals:

* MSUFCU's journey from buying fintech solutions to creating their own

* The secret sauce behind their successful fintech acquisitions

* How they formed Reseda Group, a credit union service organization (CUSO), to sell solutions to other institutions

* Their venture into investing in fintech startups

Key takeaways:

* The critical importance of board alignment in driving innovation

* How MSUFCU leverages its "Labs" sub-brand for pilot testing

* Strategies for measuring success across diverse initiatives

* The untapped potential of collaboration in the credit union industry

Whether you're in fintech, banking, or any industry facing digital transformation, this episode offers invaluable insights on reinventing business models and managing innovation.

Listen to learn how even a staid institution like a university credit union can reshape the future of finance.

For more info:

-https://www.msufcu.org

-https://www.resedagroup.com

-https://resedasummit.com

When big regional banks stumbled last year, many customers were left out in the cold. In this episode, we talk with DJ Kurtze, SVP and San Francisco Bay Area Regional President for Five Star Bank, about how Five Star is stepping in to fill that gap. DJ shares his firsthand experience of customer dissatisfaction and the Sacramento bank's strategic move into the Bay Area. Discover how their relationship-driven approach is winning customers in a unique competitive landscape.

This episode is a must-listen for anyone interested in the dynamics of regional banking, especially in a post-crisis environment. DJ provides valuable insights into strategic growth, customer acquisition, and expanding into markets, even if it's just down the road.

Topics we cover:

* DJ's extensive background at Wells Fargo and Signature Bank

* Five Star Bank's history and the signals that prompted their expansion into the Bay Area

* The new competitive landscape post-SVB collapse and JPMC's acquisition of First Republic

* Tactics behind Five Star's successful personal approach to banking

* The critical role of recruiting in their strategy

* Future outlook for the Bay Area and potential impacts of the CRE market

For more info:

DJ's LinkedIn profile

Five Star Bank's website

Rationalizing effort and investment in how and where you serve clients is difficult to get right. It is trickier still to do so with the resources of the community FI. In this episode, we talk with Chris Turnley, EVP of Member Experience at University Federal Credit Union (UFCU) in Austin, Texas. Chris shares how his background in consumer services and fintech has helped shape a winning strategy for UFCU. Chris shares his insights on the evolution of financial services, the fallacy of all or nothing in digital transformation, and the balancing act creating a standout member experience requires.

Topics we dig into:

* Coming to a credit union from a tech background

* Balancing technology and trust in member experience

* Reframing the purpose of branches in member service

* The impact of Texas's economy and geography on opportunity

* The key skills and capabilities for relevance today and tomorrow

Contact Chris via his LinkedIn profile: https://www.linkedin.com/in/christurnley/

Or, visit UFCU at https://ufcu.org/

In this episode, Laura Worzella, Chief Operating Officer of OneAZ Credit Union, discusses building a strategy for long-term success based on market and demographic trends. From slow-moving generational shifts in population to the rapid changes new industries can bring to a region, staying ahead of your community's evolving needs can be difficult. Laura shares OneAZ's insights and approach to doing just that with the changing face of America's Southwest.

Highlight from our discussion:

* The unique demographic shifts in Arizona

* The growing industrial and SMB

* How all of these factors influence expansion and technology investment

* Implementing Agile as a business philosophy

* Internal organization to reduce friction

OneAZ's website: https://www.oneazcu.com/

Their community partnership examples: https://www.oneazcu.com/about/news/2023/oneaz-credit-union-partners-with-novle-community-activators-to-better-serve-latino-community/

Their SMB partnership with State Forty Eight Clothing: https://www.youtube.com/watch?v=yEj_w7zcQ4c

Laura's profile on LinkedIn: https://www.linkedin.com/in/laura-worzella-65288ab/

Everyone is worried about CRE debt, but there is less consensus about how much to worry. In this episode, we talk with Greg Freedman, co-founder and CEO of BH3 Management. BH3's business model was born out of the mass of distressed commercial real estate paper in 2009. Greg shares with us his perspective on the past 15 years of the market, how today compares to the last crisis, and what indicators and events will shape the coming months and years.

Highlights from our conversation:

-Starting during the great financial crisis

-Marrying distressed debt and real estate development

-BH3 investment thesis and supporting market trends

-The cyclical nature of CRE lending

-2009 vs. 2024

-Asset prices and what will most impact the future

For more about Greg and BH3, visit: https://bh-3.com

For community FIs, spending on digital channels and other technology often comes at the expense of opening new branches. This isn't the case for Ascend Federal Credit Union of Tennessee. President and CEO Matt Jernigan shares the growth strategy of the $4 billion credit union and the central role physical branches play. Matt talks about how design, technology, and winning local relationships help Ascend meet the needs of a growing member base and keep a lid on expenses.

Highlights from the episode:

-The expansion challenges of Middle Tennessee

-The importance of physical branches, even within a digital-driven strategy

-Innovations in branch design and technology

-Balancing Cost and Member Needs

-Adapting to local needs

-The operational challenges and key partnerships needed for success

For more, visit https://ascend.org/

In this episode, we discuss the history of economic inequality in America with Kevin Cohee, Chairman and CEO of OneUnited Bank. Kevin shares how his family's legacy in financial justice shaped his upbringing and the vision he has for the way banking can play a role in equality and justice today.

You can learn more about OneUnited's founding and growth in our earlier discussion with President and COO Teri William in episode #12.

Highlights from our discussion with Kevin:

* Kevin's Family Legacy

* Their connection to the founding of the Greenwood District of Tulsa, Oklahoma

* The 1921 Tulsa Massacre and Its Aftermath

* The Significance of Juneteenth

* Financial literacy's role in equality

* OneUnited's innovations in banking technology

* The future of financial services

For more, visit OneUnited.com