Considering the looming competition for executive talent within the financial services sector, credit unions are strategically deploying non-qualified retirement plans, known specifically as 457(f) or Supplemental Executive Retirement Plans, to retain and recruit executive talent. Non-qualified retirement plans offer far greater benefits to credit unions then generally acknowledged and vary greatly in design, size and how they are used. But they are complex, and the regulations governing these plans can also change. In this podcast we interview Dave Emery, a Partner with Burns-Fazzi, Brock & Associates to address the overarching question that credit unions must continuously answer: whether or not each plan is accomplishing its goal of aligning incentives of the credit union and its key executives.
Burns-Fazzi, Brock & Associates is a leading compensation consulting firm for credit unions as well as the NAFCU Services Corporation Preferred Partner for credit union Executive Benefits and Compensation Consulting solutions.
How do credit unions ensure loyalty from their members? As vice chairman of one of the fastest-growing public companies in the nation, Obsidian Enterprises, Inc., an organization involved in a wide range of businesses, Scott McKain knows how challenging managing and operating a diverse business can be.
Although growing successful businesses and developing corporate leaders within his own $100 million-plus organization has been McKain’s calling, speaking from experience is his true passion. His understanding of real-world business and his ability to fully engage his audience also enabled the development of Value Added Institute—a think tank with an extensive and diverse faculty that explores the activities organizations must accomplish to enhance customer loyalty—where he serves as chairman. Also an author, McKain just released his latest book Collapse of Distinction.
McKain will speak about how credit union leaders can use their work ethic and experience to generate successful ideas for member loyalty and solutions credit unions must execute to overcome today’s challenges. Listen to this podcast to get a sneak peek of Scott McKain presentation at NAFCU’s 2009 Annual Conference (www.nafcu-annual.org).
Each week seems to bring a new government program to address some other part of the financial crisis. Just keeping track of the acronyms is a full-time job! Helping us to better understand what has been going on in the economy and where it is heading is Hillary Elder, Director for Taxable Money Market Strategies with HighMark Capital Management and NIFCU$, 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 option 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.
It has been said that trying times also offer opportunity, and that statement is probably no truer than it is for payment products offered by credit unions. Although we face significant competing advertising from banks and other financial institutions aimed at our members, presenting a challenge for credit unions looking to market payment products effectively to members and member prospects, the opportunity to do so still exists and is compelling.
In this podcast, we discuss best practices to market credit union payment products with Stephanie Polen, Vice President of Business Development and Marketing for CMC, where she leads CMC’s marketing team in their efforts to grow clients’ payment product portfolios. With Stephanie, we explore the best ways to effectively market your payment products, including consumer trends in the current economy and the challenges and opportunities that they present to you, credit and debit trends in relation to offering the right product at the right time to the right member, and how credit unions should leverage their branches to optimize debit and credit programs.
CMC is the preferred partner of NAFCU Services Corp. for credit card processing and servicing solutions for credit unions, and Stephanie will be presenting a more in-depth version of this discussion at the NAFCU Strategic Growth Conference, March 17–20, 2009 in Clearwater, FL.
Sponsored by NAFCU Services Corporation and our Preferred Partners, these ads are free for NAFCU members to use in your marketing efforts. We even negotiated a set one-time fee of $150 with the ad designers to have the ads customized for your credit union!
Place on local TV or cable
Post on your website
Show in your lobby
Place in local movie theaters
Link in your email marketing campaigns
Use in presentations
At NAFCU Services, we’re dedicated to providing solutions that strategically position you for growth and productivity, and hope that these ads will prove effective in reaching out to Members and prospects alike.Watch the winning ads and request your free ad now at www.nafcu.org/video-ads.
As they say, the best laid plans of mice and men often go awry. Unfortunately, in no area has this been truer than in pension planning, in particular for defined benefit plans. New investment strategies to better manage pension liabilities for defined benefit plans are, now more than ever, weighing heavily on the minds of credit unions. The plunge in equity values, unprecedented high volatility and decline in interest rate yields have affected nearly every facet of retirement planning, and perhaps none more so than that of defined benefits.
In this podcast, we interview two retirement experts on how credit unions can best manage liabilities and volatility for defined benefits. Hod Caulkins, Senior Vice President and Chief Executive Officer, and Rich Rausser, Vice President of Consulting Services, for Pentegra Retirement Services each hold over 20 years of investment management experience. Caulkins and Rausser discuss the recent trends in defined benefit plan asset values, the impacts of the Pension Protection Act (PPA) and WRERA, and how credit unions can better mitigate interest rate exposure under PPA as well as better manage pension plan costs and volatility as a whole.
Pentegra Retirement Services is the preferred partner of NAFCU Services Corp. for credit union qualified retirement plan services for 401(k)s and defined benefit plans, which include comprehensive fiduciary protection, and is the only provider to offer 401(k) or pension plans exclusively for community-based financial services firms.
Financial experts have long been concerned about the level of debt in America, and particularly concerned with how levels of debt affect attitudes and behavior towards retirement security. In this podcast you will hear from John Gibbons, Managing Director at Securian Financial Group, the NAFCU Services Corporation Preferred Partner for debt protection and credit insurance solutions, as he delves into astounding results from a cutting edge study that examines attitudes about debt, how those attitudes vary by generation, and the implications for credit unions.
The study explored if and how debt changes among four specific generational groups – from the young Generation Y consumers, now ages 20 to 26, to Generation X (27 to 42), Baby Boomers (43 to 61) and the Silent Generation (62 to 73), as well as among retirees and non-retirees. In particular, the study set out to answer four questions:
How do American consumers feel about debt, and are these feelings consistent with their behavior?
Do these feelings change across generations?
Do Americans come to grips with debt as they approach retirement?
Are Americans realistic about debt and how they will manage it in the future?
With more than $30 billion in assets under management and a half-century of serving the credit union market, Securian Financial Group is one of the leading providers of credit insurance and debt protection solutions in the industry.
For credit unions, maintaining the most up-to-date online security is like playing a game of cat and mouse. Every time one problem is solved, another one pops up. This is no different in helping to protect members against crimes of identity theft. Historically, identity theft was limited to fraudulent credit access that is best detected by credit monitoring. But the crime has evolved. The increased availability of public information, combined with easy Internet access has left consumers vulnerable to far more devastating types of identity theft beyond credit card fraud, such as fraudulent employment and other applications.
In this podcast we interview Wayne Conte, executive vice president of sales for Affinion Group, NAFCU Services’ preferred partner in providing identity theft solutions to credit unions. Conte is an expert in online security with over 20 years of management and finance experience. He discusses the basics of identity theft, how it most often occurs, how it is changing, what trends are predicted for the future, as well as the current statistics on the prevalence of identity theft which has become the fastest growing crime in America. Conte also explains valuable tips for both credit unions and credit union members in preventing, detecting, and resolving identity theft issues.
Wayne will also be speaking on this topic at the NAFCU Technology and Security Conference, February 23 – 26, 2009 in Las Vegas, NV.
Last year the NAFCU Technology and Security Conference featured an innovative “Hacker Challenge”, where attendees got to – legally – act as hackers for a day. The new and improved version will be at this year’s event, February 23 – 26 in Las Vegas, Nevada. If you think you’re good at providing security for your credit union, now you finally have a chance to prove it! Traditional hacker labs tend to be passive, showing, for example, compromised credit card information being traded live online, but what is even more useful is to show how the information was compromised in the first place. Once you understand how to play offense, you can take a superior approach to defense. You will learn about the latest evolving hacker tactics from Digital Defense’s Chief Compliance Officer and the company’s prime regulatory compliance resource, Tom DeSot.
In the podcast, we interview Tom to learn how the Second Extreme Hacker Challenge works and how it is more challenging and informative than last year’s. Following a background briefing, participants will begin competition running off of a local network to see who can penetrate the network the fastest. In essence, attendees will have a chance to step into the shoes of credit union hackers for a day. In addition to bragging rights, there will also be prizes for the top competitors.
Digital Defense delivers affordable network security to organizations of all sizes, serving more than 900 clients nationwide, 77% of which are credit unions, and is the preferred partner of NAFCU Services Corp. for information security including risk assessment, threat and security management.
Contact: Mr. Tom DeSot tom.desot@ddifrontline.com; Web: www.ddifrontline.com, Phone: 888-273-1412.
Interviewer: David C. Frankil, President, NAFCU Services Corporation, 703 522-4770 x226, dfrankil@nafcu.org
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