Credit Union Conversations

What is the one system used by the majority of the 20 largest banks in the USA and MBFS? It's nCino. They are a longtime partner of MBFS, and in this episode, Will Cameron and Mark catch up on the latest nCino news and what is happening in the loan systems industry today.

IN THIS EPISODE:

• [02:14] Will Cameron shares his job history and talks about skills veterans bring to an organization. 
• [06:50] The growth of nCino from 150 to 1600 employees. 
• [12:24] Will explains how the level of technology has changed and how the mindset needs to change accordingly. 
• [16:04] The two key factors when choosing a technology investment. 
• [19:13] Select a software system that grows with your organization. 
• [23:39] nCino partners with organizations that have a limited number of employees through its support staff. 
• [28:11] Why the nCino support staff is effective and how they are building intelligence into their products for both the institution and the member. 

KEY TAKEAWAYS: 

• It’s critical to involve the stakeholders, employees and IT personnel when shopping for a software system.
• Evaluation of software by cost alone is foolish. Instead, it should be viewed as an asset to grow the business.
• Don’t automate your inefficiencies. Rethink what the right software can do for your company.

RESOURCE LINKS

Mark Ritter Website

nCino Website

BIO:

Will Cameron is the SVP of Community and Regional Banking for nCino. nCino's Bank Operating System is a comprehensive, fully-integrated bank operating system that was created by bankers, for bankers, to drive increased profitability, productivity gains, regulatory compliance, and operating transparency at all organizational levels and across all lines of business.

What keeps you up at night at your credit union? Many of us worry about fraud and data protection constantly. Zach Douglass lives on that very topic every day for credit unions nationwide. Learn what it is like to live this topic day in and day out and what your credit union can do to minimize the risk of loss.

IN THIS EPISODE:

• [01:54] Mark gives an overview of today's topic and introduces Zach Douglass. 
• [02:51] Zach shares his job title and responsibilities. 
• [06:59] What does risk management encompass, and what are the three common frauds and scams? 
• [10:14] The balancing act between stopping fraud and managing risk. 
• 13:06] Fraudsters are more sophisticated, and two ways credit unions could improve. 
• [17:01] Zach discusses how Covid affected fraud and the methods bad actors are using in technology to defraud. 
• [22:02] How a two-dollar sticker saved a hundred thousand dollars. 

KEY TAKEAWAYS: 

• Fraudsters became more adaptable to scamming during the pandemic because they were isolated with their computers and saw how easy it was to commit fraud from a device.
• Just as security measures are developed to keep members safe, scammers are working just as hard to create new ways to commit fraud. 
• Credit Unions should look at all their products and services to assess risks.

RESOURCE LINKS

Mark Ritter Website

Allied Solutions Website

BIO:

Zach Douglass works to keep credit unions aware of emerging risks to prevent losses as the director of Bond and Risk Management for Allied Solutions. Allied Solutions uses technology-based products and services to meet the insurance, lending and marketing needs of more than 4,000 financial institutions in North America. Dedicated to helping their clients grow, protect and evolve their businesses.

On today’s episode of Credit Union Conversations, Mark is joined by Bob West. Bob, a veteran of credit unions, has been in multiple executive level leadership positions at multiple credit unions and handles all things technology. Listen in as Bob and Mark discuss technology advances and how financial institutions can keep up with the changes and regulations. 

IN THIS EPISODE:

• [01:50] Bob’s origin story in tech and evolving into the financial industry. 
• [07:45] Technology challenges in today's world for CU’s. 
• [15:15] Bob’s perspective on the regulatory landscape for institutions. 
• [25:01] Vendor security and what institutions should focus on. 

KEY TAKEAWAYS: 

• Keeping up with changing technology is a key to keeping your credit union effective and efficient for customers
• Core conversions are a big decision and a detailed process, and it’s important to be aware of your options in the industry. 

RESOURCE LINKS

Mark Ritter Website

BIO:  

Bob West is currently the CEO of CU South, a CUSO dedicated to supporting the CU Base platform and providing support services to credit unions. Bob is a veteran of credit unions after holding executive level leadership positions at multiple credit unions. In addition, Bob held executive positions at Fiserv and Martin's along with serving his country in the Air Force.

What is the good, bad, and ugly of getting a coveted CEO job at a large, successful credit union? Kelly Botti of Trumark Financial to talk through the process of moving into a CEO role and lessons learned so far. 

IN THIS EPISODE:

• [01:45] Kelly’s origin story and journey to Credit Union CEO. 
• [11:15] Advice for those in middle management who want to move roles one day. 
• [21:15] Best practices that Kelly has chosen to implement with her employees. 
• [25:41] What Kelly is hopeful and excited for in the CU industry. 

KEY TAKEAWAYS: 

• Give your employees the ability to have their own ideas and make their own mistakes to learn from. 
• Credit Unions are seeing a huge shift in how they market and rebrand as they grow with the current economy and generations. 

RESOURCE LINKS

Mark Ritter Website

BIO:  

After eight years at the credit union, Kelly Botti became CEO of Trumark Financial in 2022. A graduate of Villanova's Law School, Kelly entered the legal world and then transferred over to a career in commercial banks before credit unions.

We made it to one year of podcasts! Mark gives a review of the episodes from the past year and how the show has evolved. Mark gives a profile of his experiences and highlights some of the people who have impacted him over the years. Mark also gives his bio, what lessons he has learned, and how it has impacted his management style today. Mark apologizes in advance for the ramblings but enjoys talking about his past, present, and future.

IN THIS EPISODE:

• [06:00] Mark gives a background of his life and how it impacted his future in the lending business. 
• [14:00] The different people Mark has met in his life and how they impacted him. 
• [22:00] Building a win-win culture in the workplaces where Mark strives for everyone to be successful. 

KEY TAKEAWAYS: 

• Mark decided to put an emphasis on relationships and this helped foster successful people in his businesses. 
• Sometimes people will impact your life in positive ways without even trying and other times people will show you exactly what NOT to do in your business and personal life. 

RESOURCE LINKS

Mark Ritter Website

Jack and Mark have an insightful conversation into the history and current state of NACUSO. Mark is a big fan of the annual conference and Jack gives a preview of this year. What's the future of CUSOs look like? Jack and Mark have some thoughts. 

IN THIS EPISODE:

• [02:00] Jack introduces himself and shares more about his life’s journey. 
• [12:30] Jack and Mark discuss NACUSO’s upcoming annual conference. 
• [22:30] Jack talks about staying up on advocacy and education to members. 
• [26:51] Regulations and issues to be aware of and stay ahead of. 

KEY TAKEAWAYS: 

• Conferences can be opportunities to make connections and bring innovative solutions to light. 
• NACUSO has a goal of education and advocating for its members. 

RESOURCE LINKS

Mark Ritter Website

BIO:  

Jack Antonini has been the CEO of the National Association of Credit Union Service Organizations (NACUSO) since 2010. NACUSO brings together credit unions, their CUSOs, and key partners annually at their conference attended by more than 700 people. In addition, NACUSO educates and advocates for the industry with the support of their member base.

CU 2.0's Kirk Drake and MBFS's Mark Ritter figure out what is wrong in today's world and how they can fix it asap! This is round robin and unscripted so you don't know what will go on in today's episode.

IN THIS EPISODE:

• [01:30] Kirk’s origin story and what he’s up to today. 
• [06:00] Kirk and Mark discuss CEO transitions. 
• [13:00] Increasing members and deposits. 
• [22:00] Kirk’s west coast perspective on the Marijuana banking industry. 

KEY TAKEAWAYS: 

• Successful CEO transitions happen when companies have a slow transition involving working together before changing over completely. 
• Building a strong team culture and dynamic is key in successfully moving a company forward. 
• Credit Unions may need to change in order to better serve their members and adjust and grow with them as needs and trends change. 

RESOURCE LINKS

Mark Ritter Website

BIO:  

Kirk Drake is a lifelong entrepreneur, author, and founder of CU 2.0. His entrepreneurship focuses on connecting the innovation of fintechs with the mission of credit unions. He has built 8 successful businesses, including CU Wallet, the CUSO Ongoing Operations, CU 2.0, and now Painted Hills.

2022! What a year! Jeff and Mark recap the highs and lows of 2022, where the industry is at now, and what they think the future will look like. Listen in to hear the current trends, the highs and lows of the year, and what they are looking forward to in 2023! 

IN THIS EPISODE:

• [03:00] Jeff and Mark break down the past year, the good & bad. 
• [07:40] Credit team underwriting. 
• [12:00] Having lending conversations with business owners. 
• [18:12] Mark and Jeff discuss the current recession. 
• [24:19] Jeff shares his favorite parts of 2022. 

KEY TAKEAWAYS: 

• Each year will bring highs and lows, but adjusting to them and being there for your community are key in building and maintaining those good relationships with consumers.
• Consistency is key throughout the highs and lows.

RESOURCE LINKS

Mark Ritter Website

BIO:  

Jeff Lyons is the COO of MBFS and oversees several functions at MBFS such as credit, sales, and several other operational areas. Jeff joined MBFS after several years leading business lending at a New Jersey credit union but has also been a small business owner.

An executive level marketing strategist, Mike Dinneen has spent 20 years as a marketing leader in financial services. On this episode of Credit Union Conversations. Mike and Mark chat all about tailing marketing strategies to consumer behaviors and much more. Listen in to learn more!

IN THIS EPISODE:

• [02:00] Mike’s background in community banking and it’s evolution over time. 
• [10:23] Mike gives his take on the bank branch’s role in marketing efforts. 
• [15:00] The Consumer Behavior Funnel. 
• [20:00] How media and social media has evolved marketing aspects. 
• [27:00] Social media followers, subscribers, and the importance of engagement. 

KEY TAKEAWAYS: 

• Consumer behaviors influence marketing decisions made by different branches. 
• Better data allows for more personalization of marketing materials and strategies. 
• Engagement on social media platforms should be the biggest focus of companies. 

RESOURCE LINKS

Mark Ritter’s Website

BIO:  

Mike Dinneen is an executive-level marketing strategist, with more than 20 years of progressive financial services leadership. For the last five years he has served as the Senior Vice President of Marketing for American Heritage Credit Union.

Kabir Laiwalla has been the leader of Platinum FCU for more than 20 years. Founded in December 1999, Platinum FCU is a unique credit union that focuses on serving the financial needs of Shia Imami Ismaili Community Members. Kabir explains how his small credit union fits the needs of their community and keeps them members for life. Tune in to this episode to get more insight from Kabir and Mark on this episode of Credit Union Conversations.

IN THIS EPISODE:

• [02:19] Kabir’s journey, starting in Mumbai, India, pursuing his CPA, and moving to the US. 
• [08:00] Platinum FCU, a faith based credit union serving the Shia Imami Ismaili Community. 
• [12:48] Platinum’s mission to help educate immigrants with finances in the US. 
• [17:14] Giving business opportunities for those new to the US. 
• [23:47] The Platinum Scholarship. 
• [31:00] Kabir’s thoughts on the future of Platinum FCU. 

KEY TAKEAWAYS: 

• Credit unions can give a sense of community and belonging within certain faiths. 
• Meet your community with your business in areas that are lacking. 
• Understand the needs of current members, and always strive to bridge the gaps. 

RESOURCE LINKS

Mark Ritter Website

BIO:  

Kabir Laiwalla is the leader of Platinum FCU for more than 20 years. Platinum Federal Credit Union was founded in December 1999 to serve the financial needs of Shia Imami Ismaili Community Members. Today, with over 11,500 members and assets in excess of $240 million, we are among the fastest growing credit unions.