NAFCU Services Credit Union Podcasts
Can I Be Compliant and Efficient?

Can I Be Compliant and Efficient?

November 22, 2013

With the tsunami of new regulations from NCUA and the CFPB, getting good at compliance is becoming a key success factor for credit unions. In this podcast and presentation from the 2013 NAFCU Annual Conference, Toné Gibson explores how your credit union can develop a cost-effective approach to strike a better balance between compliance and operational efficiency.  Through the utilization of three methodologies – strategic development, process excellence, and performance management – learn in detail how to reduce the cost of compliance.

Wolters Kluwer Financial Services is the NAFCU Services Preferred Partner for Consumer and Member Business Lending & Deposit Services. More educational resources and contact information are available at www.nafcu.org/wolterskluwer.

Credit Scores: What’s Behind the Number?

Credit Scores: What’s Behind the Number?

November 4, 2013

A significant opportunity for you and your credit union is the scoring the “unscorables.” These unscorables are the 64 million U.S. consumers who have little or no credit history and are deemed unscorable by most traditional credit score models. You may be surprised who make up this group—many hold professional or skilled-labor jobs and own their own homes.

In this podcast and presentation from the 2013 NAFCU Annual Conference, Barrett Burns provides a comprehensive analysis of credit score models and discusses how your credit union can utilize them for member outreach and education. Learn about population segments that are hardest to target regardless of whether or not they have credit scores, find out what types of data are acceptable when evaluating unscorable consumers, and more.

VantageScore Solutions LLC is the NAFCU Services Preferred Partner for Credit Scoring.

Ten Tips to Improve Your Vendor Management Program

Ten Tips to Improve Your Vendor Management Program

August 5, 2013

Effective vendor management helps (1) improve your chances of passing a compliance audit and (2) ensure you’re getting the best service from your vendors. In this presentation from the 2013 NAFCU Annual Conference, Andy Vanderhoff explains what to look for when you evaluate your current program.

Quantivate is the NAFCU Services Preferred Partner for Vendor and Contract Management. More education content, including recordings from the “Ask the Professor” Vendor Management Curriculum, is available here »

Vendor Management: Getting Started on a Systemic, Regulator-Friendly Program

Vendor Management: Getting Started on a Systemic, Regulator-Friendly Program

February 12, 2013

Improve efficiency and maximize the value you receive

If your idea of vendor management is a spreadsheet and a one-time vendor review, it’s time to rethink your approach to managing your third party relationships.

Vendor management is much more than checking off a box for the auditors, although meeting NCUA and other federal regulatory requirements is the first reason you should have a comprehensive program in place. The second reason is to ensure good business practices—contract management, knowing how your vendors are protecting your interests, performance reviews, and risk assessments—are being performed. Regardless of asset size or staff resources, you can implement a vendor management program that meets your compliance needs while adding value to your credit union.

In this podcast, Andy Vanderhoff, CEO and Founder of Quantivate, discusses a successful vendor management strategy. Andy explains:

  • Four good business practices that will help protect your credit union
  • Pros and cons of a central versus distributed approach
  • Ten questions to ask during a due diligence review, and why you should do it on a regular basis
  • What credit unions typically miss during a due diligence review
  • How to perform a risk assessment

Quantivate is exhibiting at the upcoming NAFCU Technology and Security Conference, February 26–28 in Austin, TX.

Internal Control Certification – It’s Not Just an Accounting Thing (Credit Union Conference Session)

Internal Control Certification – It’s Not Just an Accounting Thing (Credit Union Conference Session)

March 4, 2012

In this recorded 2012 NAFCU Technology & Security Conference session, you will learn about the internal control certification process and how it impacts more than just the accounting department. Discover the importance of becoming internal control certified, gain insight on the impact of recent regulation change from SAS70 to SSAE 16, and get a walkthrough of the process and audit reports (Type I & Type II) as well as discuss the involvement from the “technology side of the house,” including documentation of systems controls, disaster recovery and more!

Presented by Jeff Ziliani, CPA, Director of Finance and Administration, Burns-Fazzi, Brock

Burns-Fazzi, Brock is the NAFCU Services Preferred Partner for Executive Benefits and Compensation Consulting and Long Term Care Insurance.

More information at www.nafcu.org/bfb.

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

Year-End IRA Program Best Practices

Year-End IRA Program Best Practices

November 7, 2011

December is the perfect time of year to review year-end best practices at your credit union, including those for your IRA program. In this podcast, we speak with an expert on IRAs who answers commonly asked questions posed by IRA professionals at this busy time of year.

Fred Volkman, CIS, CIP, is an IRA training Consultant with Ascensus who is responsible for conducting IRA training programs for credit unions nationwide. Fred serves as project manager for several distance learning products including compliance and operational webinars designed specifically for credit union staff.

Ascensus is the NAFCU Services Preferred Partner for IRA, Retirement Plan and Health Savings Account (HSA) Solutions for credit unions.

Contact: Jane Weizenegger, Ascensus; Email: jane.weizenegger@ascensus.com; Phone: 800-346-3860 x55163; Website: www.ascensus.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/ascensus

New Adverse Action Notices and Risk-Based Pricing Notice Requirements for Credit Unions

New Adverse Action Notices and Risk-Based Pricing Notice Requirements for Credit Unions

July 25, 2011

At the start of July 2011 the Federal Reserve finalized rules on model adverse action notices and risk-based pricing notices to implement Section 1100F of Dodd-Frank. In this podcast we speak with an expert about the specific requirements for your credit union to comply with these updates within the tight deadline given.

Sharing his expertise is Ted Dreyer, Senior Attorney for Wolters Kluwer Financial Services. Ted has been with Wolters Kluwer since 1995, helping credit unions better understand the complex and confusing maze of regulatory requirements, and suggesting practical processes and solutions to help them address those needs. As an attorney and former regulator, Ted is certainly positioned well to speak on a variety of credit union regulatory issues.

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

Contact: Mr. Matt Haupert, Wolters Kluwer Financial Services; Matt.Haupert@wolterskluwer.com; Phone: (320) 240-5214; Website: www.WoltersKluwerFS.com

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

Show References: www.nafcu.org/wkfs

Insurance Regulation and the Optional Federal Charter Bill’s Impact on Credit Unions

Insurance Regulation and the Optional Federal Charter Bill’s Impact on Credit Unions

January 4, 2011

If you operate in multiple states, you know that selling insurance is a compliance nightmare. In this podcast, we will meet with Jeff Chesky, President and CEO of Insuritas, to discuss insurance distribution regulation today and the barriers it presents for credit unions as well as discuss the Optional Federal Charter bill that’s in Congress and how that could positively impact credit unions. Jeff has over 20 years of experience in the banking and insurance fields. Over that time, he has served as a Senior Vice President of one of the nation's 100 largest insurance agencies, Director of Institutional Investment Management at Mass Mutual Insurance Company, and Vice President of mortgage lending at both Fleet Bank and Bank of New England. Mr. Chesky also had the distinguished honor to serve on the White House staffs of President Jimmy Carter and Vice President Walter Mondale.

Insuritas is the NAFCU Services Corporation Preferred Partner for outsourced insurance brokerage solutions for credit unions.

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

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

Show References: www.nafcu.org/insuritas

NCUA Investment Due Diligence (NCUA Letter NO: 10-CU-18)

NCUA Investment Due Diligence (NCUA Letter NO: 10-CU-18)

December 20, 2010

NCUA now requires credit unions to evaluate and document specific fundamental elements before purchasing an investment. In this podcast, we discuss how these new investment due diligence guidelines will affect credit union executive benefit plans with Tom Telford, Consultant with Burns-Fazzi, Brock. Tom has 12 years of experience in executive compensation consulting. He has been an advisor to various credit union, banking, insurance and non-profit organizations. As a registered investment advisor, Tom’s expertise is focused on institutional investment strategies to fund executive compensation plans.

Burns-Fazzi, Brock, is the NAFCU Services Corporation Preferred Partner for Compensation Consulting Services for credit unions.

Contact: Mr. Tom Telford, Consultant, Burns-Fazzi, Brock, Phone: (801)916-8444; Email: ttelford@bfbbenefit.com; Website: www.bfbbenefit.com

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

Show References: www.nafcu.org/bfb