NAFCU Services Credit Union Podcasts
Non-Interest Income and Future Business Models

Non-Interest Income and Future Business Models

November 15, 2013

Consumers are willing to pay for services that they find either adds convenience or delivers value. In this podcast and presentation from the 2013 NAFCU Annual Conference, Dave Schneider, Brent Dixon, and Paul Muse discuss how to expand your credit unions credit and debit opportunities and explore innovative products that can help guide your future credit union operations, including new approaches to increasing penetration, activation, and usage of the fundamental card. Also, learn to leverage new payment options that will appeal to Gen Y consumers, including Internet PIN debit, PINless at the point of sale, and payments and delivery of service through mobile.

Discover Financial Services is the NAFCU Services Preferred Partner for Debit Card Programs and Debit Networks. More educational resources and contact information are available at http://www.nafcu.org/discover/.

New Strategies for Growing Membership and Loans: Auto Refinancing and Recapturing

New Strategies for Growing Membership and Loans: Auto Refinancing and Recapturing

May 3, 2013

Credit unions accounted for 18 percent of all new auto loans last year. While this market share is nothing to sneeze at, it also shows room for growth. Typically, when credit unions think of car loans, they consider two options: their existing members with direct loans or dealer financing with indirect loans. However, there are two more options that can grow your membership and car loan portfolio: refinanced and recaptured loans.

What’s the difference? In both cases an existing car loan is transferred to the credit union. A refinanced loan involves refinancing a car loan for a nonmember. A recaptured loan is when you refinance a car loan from another financial institution for an existing member.

Why is there always a market to refinance auto loans? While today’s low rate environment makes refinancing a budget-friendly option for consumers, the attraction to refinancing exists in any rate market because:

  • Consumers who didn’t get the rate they deserved at the point of sale
  • Consumers have improved their credit since taking out the loan and now qualify for a better rate
  • Consumers want to change the repayment terms of the loan

Why are these loans attractive to credit unions? Credit unions have the opportunity to rebalance their car loan portfolio because when they refinance and recapture loans, they are only selecting seasoned, performing loans. In the podcast you’ll hear about a credit union that chose to stop indirect financing in favor of refinancing and recapturing loans.

How can a credit union’s membership grow? RateGenius uses a national marketing strategy to generate applications from the general public for refinanced loans. These applications are matched to a credit union’s approval and field of membership guidelines—each new loan equals a new member. For recapturing loans from existing members, the credit union strengthens its relationship with that member by offering more attractive loan terms, whether it’s rate and/or repayment period.

Chris Brown, CEO at rateGenius, explains in this podcast why credit unions of all sizes should start refinancing and recapturing auto loans and provides tips for getting started. Chris has more than 30 years of experience in all facets of the automobile industry.

Allied Solutions is the NAFCU Services Preferred Partner for auto refinance loan generation and production, offering the rateGenius solution.

Discover U.S. Spending Monitor Update: Q2 2012 Credit Union Member Insights (Podcast)

Discover U.S. Spending Monitor Update: Q2 2012 Credit Union Member Insights (Podcast)

October 18, 2012

The Discover Spending Monitor is a quarterly report that polls more than 8,000 consumers on a monthly basis. The survey details the consumption patterns of members based on their intentions and capacity to spend. It is unique because it is the only survey of its kind to focus on credit union members.

The second quarter report indicates that spending intentions and economic confidence have increased steadily but are still affected by the high unemployment rate and the macroeconomic uncertainty in the market. With a steady increase of consumer confidence, credit union members have also been found to be more optimistic and have a better handle on their finances than non-credit union members.

In this podcast with Kevin O’Donnell, Vice President of Credit Issuance for Discover, you will learn how your credit union can take advantage of these opportunities with your members. He will also discuss where the current market trends are headed for the rest of 2012 and beyond.

Kevin has been with Discover since 1985 and is responsible for Discover Network’s credit issuing partner management and business development.

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.discoverfinancial.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/

How Credit Unions Can Grow Their Prepaid Card Services (Podcast)

How Credit Unions Can Grow Their Prepaid Card Services (Podcast)

October 16, 2012

Prepaid cards are easy to use and implement for both credit unions and their members. With the growing popularity of prepaid cards, there are some key factors your credit union should learn in order to make the most out of your prepaid card program for your members.

In this podcast, Jeffrey Lewis, Director of Alternative Payments and Prepaid at Discover will explain how prepaid card services are being used. He will also explain the difference between prepaid cards and credit/debit cards and how the Durbin Amendment has influenced the market for these services. Jeff has 25 years of payments industry experience and is on the Board of Network Branded Prepaid Card Association (NBPCA).

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

Contact: Jeffrey Lewis, Director of Alternative Payments and Prepaid at Discover; Email: jeffreylewis@discover.com; Phone:                Website: www.discover.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

Getting Serious About Fee Income (Credit Union Conference Presentation)

Getting Serious About Fee Income (Credit Union Conference Presentation)

August 27, 2012

Customer service can happen both in-store and online. So how can credit unions make the most out of their e-commerce opportunities? In order to use the digital world as a source of revenue, credit unions should equip their website with online services their members would expect from their credit union. In this presentation, we explore ways credit unions can make the most out of this opportunity and how these efforts can drive measurable results for the consumer and the credit union.

Hear Jeff Chesky, CEO of Insuritas present at NAFCU’s 45th Annual Conference & Exhibition and follow along with the presentation slides.

Contact: Jeff Chesky, Insuritas, CEO; Email: jchesky@insuritas.com; Phone: (860) 653-1134 Website: www.insuritas.com

Show References: http://www.nafcu.org/insuritas

Study of Debit, Credit & Prepaid Programs. Member Preferences and Marketing Segmentation by Generati

Study of Debit, Credit & Prepaid Programs. Member Preferences and Marketing Segmentation by Generati

August 20, 2012

The Discover Spending Monitor is a quarterly report that polls over 8,000 consumers on a monthly basis.  This survey details the spending intentions of consumers and reports trends about their outlook of finances and their perception of the economy. It is unique because it is the only survey of its kind to measure the behavior of credit union members. Lately, there has been a spike in consumer confidence, which opens the door for credit unions to grow and market their products.  So how sharp is this increase in consumer confidence? How can your credit union take advantage of this opportunity? This presentation will provide a detailed analysis of current trends and point out how your credit union can take advantage of the improving economy.

Hear Kevin O’Donnell, Vice President of Credit Issuance, speak at NAFCU’s 45th Annual Conference & Exhibition and follow along with the presentation slides.

Contact: Kevin O’ Donnell, Discover, Vice President of Credit Issuance;

Email: kevinodonnell@discover.com; Phone: 866-847-2344; Website: www.discover.com

Show References: http://www.nafcu.org/discover

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

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

Genworth Mortgage Solutions:  Serving the Unique Needs of Military Members

Genworth Mortgage Solutions: Serving the Unique Needs of Military Members

May 22, 2012

With the average military assignment of less than three years, military families are constantly getting stretched physically, mentally and financially when they are ordered to move. Genworth Mortgage Insurance has developed a specific set of solutions which allow credit unions to better assist their military members with relocation.

In this podcast, Brian Doyle, Genworth Mortgage Insurance’s Vice President of Commercial Operations and former Air Force C-17 Pilot, explains how credit unions can take advantage of this opportunity to help their military members finance their mortgages.

Brian brings over 11 years of experience in sales and marketing to Genworth and is responsible for leading Genworth’s public relations, marketing communications, sales, operations and technology teams.

Genworth is NAFCU Services Preferred Partner for private mortgage insurance for credit unions.

Contact: Brian Doyle, Vice President of Commercial Operations, Genworth;

Email: brian.doyle@genworth.com; Phone: 800-444-5664x3;

Website: http://www.mortgageinsurance.genworth.com/cu

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/genworth

Prospective Changes in Mortgage Servicing Compensation

Prospective Changes in Mortgage Servicing Compensation

January 30, 2012

If your credit union services loans for Fannie Mae or Freddie Mac, you may be wondering whether the Federal Housing Finance Agency (FHFA) is going to change servicing compensation and what that could mean for your credit union’s net revenue. In this podcast, we speak with mortgage servicing expert David Allison, Senior Vice President of Business Development at Dovenmuehle, about the current structure of mortgage servicing compensation, what changes may be on the horizon, and how they could negatively impact your credit union. David has been with Dovenmuehle for 21 years and previously worked at Mellon Bank in Pittsburgh, New York. Dovenmuehle is NAFCU Services Preferred partner for mortgage subservicing solutions for credit unions.

Contact: David Allison, Senior Vice President, Dovenmuehle; Email: david.allison@dmicorp.com; Phone: 847-778-7568; Website: www.dovenmuehle.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/dovenmuehle

Economic Review: What your credit union should do to prepare for changes ahead

Economic Review: What your credit union should do to prepare for changes ahead

May 31, 2011

Recent Federal Reserve Board members’ comments, plus improving economic readings, may mean this period of ultra-low interest rates is nearing an end. In this podcast we speak with Hillary Elder, Vice President and Director for Money Market Strategies with HighMark Capital Management about the current market and economy, what may be coming down the road, and most importantly, what credit unions can do to prepare for these probable changes.

Hillary has been manager of the National Investment Fund for Credit Unions (NIFCU$) since joining the firm in 1995, and in total her team manages over $6 billion in assets. She has over 27 years management, custody and operations experience in the investment industry.

NIFCU$ is the NAFCU Services Corporation Preferred Partner for Credit Union Investments.

Contact: Ms. Hillary Elder, Email: Hillary.Elder@highmarkcapital.com; Website: www.nifcus.com

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

Show References: www.nafcu.org/nifcus