NAFCU Services Credit Union Podcasts

With the way that today’s markets are trending, everyone is looking nervously at their retirement accounts and plans.  Nothing is more unsettling than believing you’re all fixed for retirement, and then seeing you’re not, which is what many credit union executives with split-dollar retirement plans are finding out. Tax and accounting rules have changed the manner in which these plans function, with significant implications for the long term performance and risks. In addition, the IRS is requiring a review of these plans by year-end.

This podcast features a conversation with Larry Brody of Bryan Cave LLP, a nationally known expert in estate planning and the use of life insurance in estate and non-qualified deferred compensation planning, including split-dollar. Also joining us is Chris Burns-Fazzi, a principal at Burns-Fazzi, Brock — Chris has worked in retirement and benefit planning for executives in financial institutions since 1995, and in benefit planning in public and private corporations since 1985.

Burns-Fazzi, Brock is also offering a free legal evaluation of split-dollar plans for NAFCU Members — please contact Chris directly for more information.

Contacts: Larry Brody, Partner, Bryan Cave LLP, lbrody@bryancave.com, www.bryancave.com, 314 259-2652; Chris Burns-Fazzi, Principal, Burns-Fazzi, Brock, cfazzi@bfbbenefit.com, www.bfbbenefit.com, 704 332-2265 x1

Interviewer: David C. Frankil, President, NAFCU Services Corporation, dfrankil@nafcu.org, www.nafcu.org/nafcuservices, 703 522-4770 x226

Show References: www.nafcu.org/bfb

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We’re in an up and down period right now in the economy — some sectors are up, some are down, and the Fed has taken interest rates down and now might be taking them up. And looming as threats on the horizon are the prospect of inflation, recession, and maybe even stagflation.  Helping us understand and manage for these risks is Hillary Elder, Vice President and Director of Money Market Strategies with NIFCU$, the National Investment Fund for Credit Unions.

The NIFCU$ fund was the genesis of NAFCU Services Corporation nearly a quarter century ago, as a joint venture with Highmark Capital, and it provides credit unions with a triple-A rated options for overnight and short-term investments. Hillary has been managing NIFCU$ since joining the firm in 1995, and in total her team manages over $6 billion in assets. She has extensive experience in the credit union space, and in understanding macro trends in the economy.

Contact: Ms. Hillary Elder, Hillary.elder@uboc.com, www.nifcus.com, 1-800-634-6521.

Interviewer: David C. Frankil, President, NAFCU Services Corporation, 703 522-4770 x226, dfrankil@nafcu.org

Show References: www.nifcus.com; www.nafcu.org/nifcus

41st NAFCU Annual Conference, July 8-12, 2008, San Diego, CA

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The economy has undergone significant change in the fourth quarter of 2007 and the first quarter of 2008, as evidenced by perturbations in the stock market, the rapid response of the Federal Reserve in rate reductions, capital availability and market intervention – plus what we’ve all been reading in the papers! This podcast features an interview with an expert in the field who will take a look back at the first quarter of 2008 and try to understand what it all means. Helping us read the proverbial tea leaves is Hillary Elder, Vice President and Director for Money Market Strategies with the National Investment Fund for Credit Unions (NIFCU$).

The NIFCU$ fund was the genesis of NAFCU Services Corporation nearly a quarter century ago, as a joint venture with Highmark Capital, and it provides credit unions with a triple-A rated option for overnight and short-term investments. Hillary has been manager of NIFCU$ since joining the firm in 1995, and in total her team manages over $6 billion in assets, and she has extensive experience in the credit union space, and in understanding macro trends in the economy.

Contacts: Hillary Elder, Hillary.Elder@uboc.com, www.nifcus.com, (415)-705-7580.

References: www.nifcus.com, www.nafcu.org/nifcus

NIFCU$ 1st Quarter 2008 report (.pdf)

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Consumer-directed benefits seemed to get a big boost when 401(k) plans started to replace defined benefit plans as America’s retirement plan – a paradigm shift that migrated retirement savings from employer-funded to employee-funded. As part of this shift, Health Savings Accounts (HSA’s) have shown tremendous growth in recent years, and represent a viable growth strategy for credit unions looking to attract new deposit dollars that dovetails nicely with existing retirement products.

This podcast features an interview with Mike O’Brien, Vice President of Resource Development/Product Management at Ascensus (formerly BISYS^®) Retirement Services. Mike is an expert in retirement services, with over 23 years and 2200 training sessions under his belt. Ascensus is also the NAFCU Services Preferred Partner for IRA and Health Savings Account forms, documents and agreements.

Mike will be speaking in more detail on this topic at the NAFCU Strategic Growth and Lending Conference, March 11-14, 2008 in Scottsdale, Arizona. This is the second in a series of podcasts featuring speakers from the NAFCU Strategic Growth and Lending Conference.

Contacts: Mike O’Brien, Vice President of Resource Development/Product Management at Ascensus, www.ascensus.com, mike.o’brien@ascensus.com, (218) 825-5165.

Jane Weizenegger, Manager of Association Relations, jane.weizenegger@ascensus.com, (800) 346-3860 x55163

References: NAFCU Strategic Growth and Lending Conference, Scottsdale, Arizona, March 11-14, 2008, www.nafcu.org/growth. Open to both NAFCU Members and non-Members.

www.nafcu.org/Ascensus

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Owning your own home is a dream common to many credit union Members. But it seems as though more often than not they turn to banks or other lenders to translate dreams into reality.

The CU Housing Roundtable estimates that after thirty years credit unions have not been able to muster more than 2% market share. Why credit unions have lagged in establishing and growing their own programs is a matter of some ongoing debate, but regardless the low level of market penetration should be of concern to credit union leaders on many different levels.

This podcast features an interview with Dan Green, Executive Vice President of Prime Alliance, to discuss some of the underlying market dynamics, and to focus on how credit unions can overcome what some might see as obstacles to establishing and growing a housing finance program.

Show References: Credit Union Housing Roundtable and white papers — Credit Union Housing Roundtable; Two to Ten White Paper; Reverse Mortgage White Paper

Contact: Dan Green, dgreen@primealliancesolutions.com, (206) 439-5957, www.primealliancesolutions.com

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This podcast focuses on CEO and Board Liability for 401(k) and Retirement Plans. Nearly every credit union has these plans in some form, and for every one someone – usually the CEO – serves as what is called the plan fiduciary. That role carries with it significant responsibilities and, as you will find out, significant personal (not corporate) liability as well. The podcast features Rich Rausser, Vice President of Consulting Services for Pentegra, which was founded in 1943 as a not-for-profit cooperative to provide retirement benefits and today manages nearly $4 billion in qualified plan assets, and is a NAFCU Services Preferred Partner.

Contact: rrausser@pentegra.com, www.pentegra.com, (914) 821-9415

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Structuring an institutional portfolio to minimize risk and maximize return is a good thing. The problem, of course, lies in figuring out what an optimal allocation mix looks like, given a particular credit union’s asset base and risk profile, growth strategy, risk tolerance, and many other limits or constraints that all together make up an investment policy.

Today you’ll hear from Bob Lindner, who is a Director in the Asset Management area for CUNA Mutual’s MEMBERS Capital Advisors, who provide objective advice and institutional trade execution offered by seasoned investment professionals, and NAFCU Services’ newest Preferred Partner.

Contact: robert.lindner@cunamutual.com, (608) 231-8158, www.memberscapitaladvisors.com

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