Why are ratings important in selecting a partner for credit insurance and debt protection? (Podcast)

July 30, 2012

The ratings of credit insurance and debt protection providers give valuable insight to credit unions that are in the market for a new insurance provider or are evaluating their current insurance provider. Quality of assets, strength of insurance provider’s capital, risk management control, level of adequate earnings and quality of leadership are the top five factors credit unions need to evaluate to ensure that the needs of their members are met.

In this podcast, Leslie Chapman, Securian’s Vice President, Chief Actuary and Chief Risk Officer provides details on how credit insurance and debt protection providers are rated and what these evaluations mean for credit unions. Leslie joined Securian in 1976 and is a member of the Society of Actuaries.

Securian is the NAFCU Services preferred partner for credit insurance and debt protection solutions for credit unions.

Contact: Leslie Chapman, Vice President, Chief Actuary and Chief Risk Officer, Securian; Website: www.securian.com

Interviewer: David C. Frankil, President, NAFCU Services Corporation; Email: dfrankil@nafcu.org; Phone: (703) 842-2226; Website: www.nafcu.org/nafcuservices

Show References: www.nafcu.org/securian/ ; www.nafcu-annual.org

Discover U.S. Spending Monitor Update: Q1 2012 Credit Union Member Insights (Podcast)

July 5, 2012

The Discover U.S. Spending Monitor is a quarterly survey that polls 8,200 consumers each month about their spending intentions, opinion of the economy and personal finances.  This report is the only survey of this kind that focuses specifically on credit union member behavior.

In this podcast, Kevin O’Donnell, Vice President of Credit Issuance for Discover Network, discusses trends for credit union member spending and economic confidence as well as how credit unions can use this information to better serve their members. We also take a look at where these members are headed for Q2 and beyond.

Kevin has been with Discover since 1985 and is responsible for Discover Network’s credit issuing partner management and business development.  He will also be a speaker at this year’s 45th Annual Conference & Exhibition in Nashville, TN.

Discover is the NAFCU Services Preferred Partner for turnkey credit, debit and prepaid card programs for credit unions.

Contact: Kevin O’Donnell, Vice President of Credit Issuance, Discover Network; Email: kevinodonnell@discover.com; Phone: 224-715-4616; Website: www.discovernetwork.com

Interviewer: David C. Frankil, President, NAFCU Services Corporation; Email: dfrankil@nafcu.org; Phone: (703) 842-2226; Website: www.nafcu.org/nafcuservices

Show References: www.nafcu.org/discover/ ; www.nafcu-annual.org

Liabilities When Opening New Accounts Online (Podcast)

July 3, 2012

As credit unions continue to evolve in the digital world, more members are using online banking to open and administer deposits online. Even though there are numerous benefits to online banking, credit unions need to raise caution when moving forward with this technology. Deposit regulations, The Bank Secrecy Act and e-signatures all have compliance risks involved when members take advantage of online channels.

In this part two of a two part podcast series, Kurt Stertz, a Senior Attorney with Wolters Kluwer Financial Services, gives a thorough analysis on how credit unions can implement different procedures and develop tools to counterbalance these risks.  Kurt has been with Wolters Kluwer Financial Services since 1988 and concentrates on the areas of deposit law and risk management.

Wolters Kluwer is NAFCU Services Preferred Partner for Consumer and Member Business Lending and Deposit Services for credit unions.

Contact: Kurt Stertz, Senior Attorney, Wolters Kluwer Financial Services; Email: kurt.stertz@wolterskluwer.com; Phone: (800) 397-2341; Website: www.wolterskluwer.com

Interviewer: David C. Frankil, President, NAFCU Services Corporation; Email: dfrankil@nafcu.org; Phone: (703) 842-2226; Website: www.nafcu.org/nafcuservices

Show References: www.nafcu.org/wkfs

Best Practices for Opening New Accounts Online (Podcast)

July 3, 2012

As credit unions and members continue to move forward in the digital world, more credit union members use electronic banking to open and administer their deposits online. Since digital banking is paving its way for the future, credit unions need to be more prepared to use this emerging technology most effectively.

In this part one of a two part podcast series, Kurt Stertz, Senior Attorney with Wolters Kluwer Financial Services discusses the challenges and implementation of online banking for credit unions. Kurt has been with Wolters Kluwer since 1988 and concentrates in the areas of deposit law, risk management, electronic signatures and online deposit opening.

Wolters Kluwer is NAFCU Services Preferred Partner for Consumer and Member Business Lending and Deposit Services for credit unions.

Contact: Kurt Stertz, Senior Attorney, Wolters Kluwer Financial Services; Email: kurt.stertz@wolterskluwer.com; Phone: (800) 397-2341; Website: www.wolterskluwer.com

Interviewer: David C. Frankil, President, NAFCU Services Corporation; Email: dfrankil@nafcu.org; Phone:  (703) 842-2226; Website: www.nafcu.org/nafcuservices

Show References: www.nafcu.org/wkfs