Foreign Exchange Services for Credit Unions

October 23, 2007

We all have Members that travel, for work or for pleasure, and they often need to purchase foreign currency for their trips. On average, they will spend between $1,400 and $3,500 combined on these trips.

But few credit unions keep stocks of foreign currency on hand, and as a result have to send their Members to banks, or worse tell them to exchange currency at airports or overseas, where excessive fees and below-par exchange rates are the norm.

This podcast features an interview with Evan Shelan, CEO and founder of, Inc., a Longview, Texas based company is the nations leading Foreign Exchange service provider for credit unions, airlines and travel related portals. eZforex offers an innovative, turn-key system that allows any credit union to offer a full-featured foreign exchange service without any up-front investment, and which offers the prospect of generating significant non-interest income.

Contact: Evan Shelan, CEO of eZforex,, (903) 663-3056,

Challenges and Opportunities in Housing Finance for Credit Unions

October 19, 2007

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,, (206) 439-5957,

Best Practices in Profitable Deposit Acquisition

October 15, 2007

Everyone wants to grow, the question is how, particularly when today’s financial services environment poses tremendous competitive challenges. This podcast features an interview with Todd Werner, Vice President of Marketing at the Affinion Group, who will discuss what other credit unions are doing successfully to grow their deposits from an expert in the field, and how you can apply it to yours. Todd has been doing consumer marketing for over 19 years for financial institutions, with a specific focus on cross-selling and retaining profitable Members, Affinion is an industry leader helping credit unions capture market share, cross-selling, acquiring new and retaining existing members, and a NAFCU Services Preferred Partner.

Contact:, (615) 764-2573,

401(k) Fiduciary Liability for CEOs and Board Members

October 15, 2007

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:,, (914) 821-9415

Institutional Portfolio Asset Management Advisory Services

October 15, 2007

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:, (608) 231-8158,

Bank Secrecy Act Due Diligence

October 15, 2007

Compliance with the Bank Secrecy Act is an ongoing challenge facing credit unions. One of the foundations of the BSA is the concept of due diligence, particularly for those Members that are considered high risk. This podcast features an interview specifically on the topic of due diligence with a senior attorney with Wolters Kluwer Corporation, Ted Dreyer. Wolters Kluwer is also a NAFCU Services Preferred Partner for compliance systems.

Contact:, (320) 240-5769,

Strategic Planning for Branch Expansion

October 15, 2007

Making the decision to expand with new branches can be deceptively simple, especially if your credit union is growing. But choosing the right location and selecting the right expansion model in a highly competitive market is by no means a simple process. This podcast features an interview with an expert in the field, Ms. Rebecca Butler, from KDA Holdings, Inc., NAFCU Services Corporation Preferred Partner for location, design and build services.