CREDITUNIONS.COM

A Force Of Change For Diversity, Equity, And Inclusion. A 12-person group at Teachers Credit Union focuses on action and deliverables in its efforts to promote DEI at the Indiana cooperative. Economic Optimism Runs High. Look beyond the headlines to discover the driving forces behind market trends and consider how they impact a credit

union’s

4 TRENDS TO WATCH IN 2021 Total delinquent balances decreased 13.5% year-over-year to $6.4 billion, yet credit unions are holding nearly double the provisions they held one year ago. U.S. unemployment remains high — 6.7% at year’s end — and the future remains uncertain. As such, credit unions are preparing for potential loan defaults and a downturn in

members

CREDIT UNION STRATEGIC PLANNING TOOLKIT A Strategic Planning Report Tailored For Your Credit Union. 2020 is just around the corner. As you prep and plan to have strategic conversations with your team start with a custom Strategic Planning Trend Report from Callahan. This report will be tailored to your credit union’s size, location, business strategies, and areas of

strategic focus

DIGITAL TRANSFORMATION: WHAT’S YOUR STRATEGY? 3 TAKEAWAYS FROM THE FIRST QUARTER OF 2021 The industry, well aware of its declining capitalization, is deploying new strategies to drive earnings. The return on assets ratio has improved through each of the past four quarters, from a low of 0.52% in the first quarter of 2020 to 1.03% in the first quarter of 20 WAYS TO HELP PEOPLE AND COMMUNITIES IN NEED Conversations with credit union leaders focused on low-income communities provide myriad ways to help people and communities in need. Here’s a list of 20. 1. Ask communities about their needs — then, listen. Hope Community Partnership (HCP) engages local citizens to identify their community development priorities. WHAT THE BAILOUT MEANS FOR CREDIT UNIONS Currently, $76 billion in NCUSIF credit union share accounts is uninsured. For all savings in the new coverage range of $100,000 to $250,000, credit unions may be required to send 1% of this total to the NCUSIF. If this percentage is 50% that would be $380 million up to $760 million, if all now uninsured funds were covered. COMPENSATING DIRECTORS: WHAT'S FAIR AND WHAT'S FOUL He works closely with a number of credit unions on regulatory and lending issues. Dustin can be reached at (757) 259-3808 or dhdevore@kaufcan.com. Hazel C. Wong is an associate on Kaufman & Canoles’ Credit Union Team and she can be reached at (804) 771-5782 or hcwong@kaufcan.com. DEBT COLLECTORS UNDER THE FAIR DEBT COLLECTION PRACTICES The Fair Debt Collections Practice Act applies to debt collectors. A debt collector is defined under the FDCPA as: "Any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due TO MERGE OR NOT TO MERGE… Five Reasons to Merge. The impetus to merge depends upon the unique situation of each credit union. However, through conversations with credit unions executives who have merged in the past two years or are considering a merger today, Callahan & Associates identified five common reasons to merge: 1. Increase Member Value.

CREDITUNIONS.COM

A Force Of Change For Diversity, Equity, And Inclusion. A 12-person group at Teachers Credit Union focuses on action and deliverables in its efforts to promote DEI at the Indiana cooperative. Economic Optimism Runs High. Look beyond the headlines to discover the driving forces behind market trends and consider how they impact a credit

union’s

4 TRENDS TO WATCH IN 2021 Total delinquent balances decreased 13.5% year-over-year to $6.4 billion, yet credit unions are holding nearly double the provisions they held one year ago. U.S. unemployment remains high — 6.7% at year’s end — and the future remains uncertain. As such, credit unions are preparing for potential loan defaults and a downturn in

members

CREDIT UNION STRATEGIC PLANNING TOOLKIT A Strategic Planning Report Tailored For Your Credit Union. 2020 is just around the corner. As you prep and plan to have strategic conversations with your team start with a custom Strategic Planning Trend Report from Callahan. This report will be tailored to your credit union’s size, location, business strategies, and areas of

strategic focus

DIGITAL TRANSFORMATION: WHAT’S YOUR STRATEGY? 3 TAKEAWAYS FROM THE FIRST QUARTER OF 2021 The industry, well aware of its declining capitalization, is deploying new strategies to drive earnings. The return on assets ratio has improved through each of the past four quarters, from a low of 0.52% in the first quarter of 2020 to 1.03% in the first quarter of 20 WAYS TO HELP PEOPLE AND COMMUNITIES IN NEED Conversations with credit union leaders focused on low-income communities provide myriad ways to help people and communities in need. Here’s a list of 20. 1. Ask communities about their needs — then, listen. Hope Community Partnership (HCP) engages local citizens to identify their community development priorities. WHAT THE BAILOUT MEANS FOR CREDIT UNIONS Currently, $76 billion in NCUSIF credit union share accounts is uninsured. For all savings in the new coverage range of $100,000 to $250,000, credit unions may be required to send 1% of this total to the NCUSIF. If this percentage is 50% that would be $380 million up to $760 million, if all now uninsured funds were covered. COMPENSATING DIRECTORS: WHAT'S FAIR AND WHAT'S FOUL He works closely with a number of credit unions on regulatory and lending issues. Dustin can be reached at (757) 259-3808 or dhdevore@kaufcan.com. Hazel C. Wong is an associate on Kaufman & Canoles’ Credit Union Team and she can be reached at (804) 771-5782 or hcwong@kaufcan.com. DEBT COLLECTORS UNDER THE FAIR DEBT COLLECTION PRACTICES The Fair Debt Collections Practice Act applies to debt collectors. A debt collector is defined under the FDCPA as: "Any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due TO MERGE OR NOT TO MERGE… Five Reasons to Merge. The impetus to merge depends upon the unique situation of each credit union. However, through conversations with credit unions executives who have merged in the past two years or are considering a merger today, Callahan & Associates identified five common reasons to merge: 1. Increase Member Value. ANATOMY OF A CREDIT UNION Anatomy Of GreenState Credit Union. GreenState Credit Union is the largest credit union in the state of Iowa. For the past two decades, the credit union has grown immensely despite the best, public efforts from financial adversaries due to its lending focus and lean

operations.

INCREASING CREDIT UNION PROFITABILITY Many credit unions are missing out on a big opportunity to serve their members and increase profitability by not offering mortgage services. Providing the solutions members need drives greater member engagement and retention. Then there is servicing, a relationship that can span 30 years. As a credit union, you want your members to have regular TOP TEN CREDIT UNION AUDITING/CPA FIRMS The top four positions remain unchanged from this time last year. CliftonLarsonAllen (CLA) tops the list with a total of 261 credit union clients with $40 million or more in assets. The nod for single largest gain goes to Detroit-based Doeren Mayhew, which added 34 credit union clients with more than $40 million in assets. It stays at

No. 2.

BEST OF HR 2019

The coming year presents numerous opportunities and challenges for credit unions. Member engagement measures and financial performance are reaching new highs with credit union membership topping 121 million, the average member relationship exceeding $19,000 for the first time ever, and nearly 59% of members holding a checking account with their credit union. ENTERPRISE RISK MANAGEMENT Enterprise risk management (ERM) is an effective way to increase efficiency, profitability, and financial performance. By focusing on operational decision making and management risks, credit unions can reduce or eliminate mistakes, errors, and other incidents that

undermine the

PROVIDING A SEAMLESS MEMBER EXPERIENCE THROUGH DIGITAL Need To Register? Register to read, research, and engage with the industry on CreditUnions.com. Gain access to credit union performance analysis, case studies, and more. 15 RATIOS CREDIT UNION BOARD MEMBERS SHOULD KNOW The net worth-to-asset ratio is the primary measure of each credit union’s financial strength. According to current Prompt Corrective Action (PCA) regulations, a 7% or higher net worth ratio is a "well capitalized" credit union. At 6% the credit union is "adequately capitalized." Capital CU STRATEGIES FOR A BROAD SPECTRUM OF RISK Need To Register? Register to read, research, and engage with the industry on CreditUnions.com. Gain access to credit union performance analysis, case studies, and more. PASS IT ON: A REFERRAL PROGRAM THAT WORKS Pass It On: A Referral Program That Works Member Mania couples a cash incentive with engagement expectations to draw in potential members as WHAT SHOULD A CREDIT UNION RISK ASSESSMENT LOOK LIKE A risk assessment should also address these specific items: Provide specifics regarding what conditions should prompt implementation of the plan and the process for invoking it. List immediate steps that should be taken during a disruption. Create flexibility for unanticipated scenarios and changing internal conditions.

CREDITUNIONS.COM

A Force Of Change For Diversity, Equity, And Inclusion. A 12-person group at Teachers Credit Union focuses on action and deliverables in its efforts to promote DEI at the Indiana cooperative. Economic Optimism Runs High. Look beyond the headlines to discover the driving forces behind market trends and consider how they impact a credit

union’s

4 TRENDS TO WATCH IN 2021 Total delinquent balances decreased 13.5% year-over-year to $6.4 billion, yet credit unions are holding nearly double the provisions they held one year ago. U.S. unemployment remains high — 6.7% at year’s end — and the future remains uncertain. As such, credit unions are preparing for potential loan defaults and a downturn in

members

CREDIT UNION STRATEGIC PLANNING TOOLKIT A Strategic Planning Report Tailored For Your Credit Union. 2020 is just around the corner. As you prep and plan to have strategic conversations with your team start with a custom Strategic Planning Trend Report from Callahan. This report will be tailored to your credit union’s size, location, business strategies, and areas of

strategic focus

ANATOMY OF A CREDIT UNION Anatomy Of GreenState Credit Union. GreenState Credit Union is the largest credit union in the state of Iowa. For the past two decades, the credit union has grown immensely despite the best, public efforts from financial adversaries due to its lending focus and lean

operations.

DIGITAL TRANSFORMATION: WHAT’S YOUR STRATEGY?

BEST OF HR 2019

The coming year presents numerous opportunities and challenges for credit unions. Member engagement measures and financial performance are reaching new highs with credit union membership topping 121 million, the average member relationship exceeding $19,000 for the first time ever, and nearly 59% of members holding a checking account with their credit union. TOP TEN CREDIT UNION AUDITING/CPA FIRMS The top four positions remain unchanged from this time last year. CliftonLarsonAllen (CLA) tops the list with a total of 261 credit union clients with $40 million or more in assets. The nod for single largest gain goes to Detroit-based Doeren Mayhew, which added 34 credit union clients with more than $40 million in assets. It stays at

No. 2.

JANE DOBBS ON LEADERSHIP DEBT COLLECTORS UNDER THE FAIR DEBT COLLECTION PRACTICES The Fair Debt Collections Practice Act applies to debt collectors. A debt collector is defined under the FDCPA as: "Any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due COMPENSATING DIRECTORS: WHAT'S FAIR AND WHAT'S FOUL He works closely with a number of credit unions on regulatory and lending issues. Dustin can be reached at (757) 259-3808 or dhdevore@kaufcan.com. Hazel C. Wong is an associate on Kaufman & Canoles’ Credit Union Team and she can be reached at (804) 771-5782 or hcwong@kaufcan.com.

CREDITUNIONS.COM

A Force Of Change For Diversity, Equity, And Inclusion. A 12-person group at Teachers Credit Union focuses on action and deliverables in its efforts to promote DEI at the Indiana cooperative. Economic Optimism Runs High. Look beyond the headlines to discover the driving forces behind market trends and consider how they impact a credit

union’s

4 TRENDS TO WATCH IN 2021 Total delinquent balances decreased 13.5% year-over-year to $6.4 billion, yet credit unions are holding nearly double the provisions they held one year ago. U.S. unemployment remains high — 6.7% at year’s end — and the future remains uncertain. As such, credit unions are preparing for potential loan defaults and a downturn in

members

CREDIT UNION STRATEGIC PLANNING TOOLKIT A Strategic Planning Report Tailored For Your Credit Union. 2020 is just around the corner. As you prep and plan to have strategic conversations with your team start with a custom Strategic Planning Trend Report from Callahan. This report will be tailored to your credit union’s size, location, business strategies, and areas of

strategic focus

ANATOMY OF A CREDIT UNION Anatomy Of GreenState Credit Union. GreenState Credit Union is the largest credit union in the state of Iowa. For the past two decades, the credit union has grown immensely despite the best, public efforts from financial adversaries due to its lending focus and lean

operations.

DIGITAL TRANSFORMATION: WHAT’S YOUR STRATEGY?

BEST OF HR 2019

The coming year presents numerous opportunities and challenges for credit unions. Member engagement measures and financial performance are reaching new highs with credit union membership topping 121 million, the average member relationship exceeding $19,000 for the first time ever, and nearly 59% of members holding a checking account with their credit union. TOP TEN CREDIT UNION AUDITING/CPA FIRMS The top four positions remain unchanged from this time last year. CliftonLarsonAllen (CLA) tops the list with a total of 261 credit union clients with $40 million or more in assets. The nod for single largest gain goes to Detroit-based Doeren Mayhew, which added 34 credit union clients with more than $40 million in assets. It stays at

No. 2.

JANE DOBBS ON LEADERSHIP DEBT COLLECTORS UNDER THE FAIR DEBT COLLECTION PRACTICES The Fair Debt Collections Practice Act applies to debt collectors. A debt collector is defined under the FDCPA as: "Any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due COMPENSATING DIRECTORS: WHAT'S FAIR AND WHAT'S FOUL He works closely with a number of credit unions on regulatory and lending issues. Dustin can be reached at (757) 259-3808 or dhdevore@kaufcan.com. Hazel C. Wong is an associate on Kaufman & Canoles’ Credit Union Team and she can be reached at (804) 771-5782 or hcwong@kaufcan.com. INCREASING CREDIT UNION PROFITABILITY Many credit unions are missing out on a big opportunity to serve their members and increase profitability by not offering mortgage services. Providing the solutions members need drives greater member engagement and retention. Then there is servicing, a relationship that can span 30 years. As a credit union, you want your members to have regular TOP TEN CREDIT UNION AUDITING/CPA FIRMS The top four positions remain unchanged from this time last year. CliftonLarsonAllen (CLA) tops the list with a total of 261 credit union clients with $40 million or more in assets. The nod for single largest gain goes to Detroit-based Doeren Mayhew, which added 34 credit union clients with more than $40 million in assets. It stays at

No. 2.

BUILDING A CREDIT UNION CULTURE When Tom Ryan became CEO of Langley Federal Credit Union ($1.9B, Newport News, VA) in the summer of 2012, he succeeded a CEO who had been with the credit union 58 years. Ryan previously served as executive vice president and chief operating officer for Digital Federal Credit Union ($5.6B, Marlborough, MA) for more than 26 years, and the new position offered him the chance to embrace big 20 WAYS TO HELP PEOPLE AND COMMUNITIES IN NEED Conversations with credit union leaders focused on low-income communities provide myriad ways to help people and communities in need. Here’s a list of 20. 1. Ask communities about their needs — then, listen. Hope Community Partnership (HCP) engages local citizens to identify their community development priorities. DELINQUENCY MANAGEMENT DURING CORONAVIRUS Delinquency Management During Coronavirus Collections strategies should consider the outsourcing of early stage delinquency to experience the cost savings and compliant expertise as the delinquency rate remains uncertain. LIMITED VEHICLE SUPPLY AND RISING PRICES IN 2021: THE The auto industry is seeing a return in activity to pre-pandemic levels in many ways. For example, vehicle miles traveled for March 2021 surpassed 300 million miles for the first time since the summer of 2019.. Consumer confidence is also improving and jumped 21.3% in

March 2021.

15 RATIOS CREDIT UNION BOARD MEMBERS SHOULD KNOW The net worth-to-asset ratio is the primary measure of each credit union’s financial strength. According to current Prompt Corrective Action (PCA) regulations, a 7% or higher net worth ratio is a "well capitalized" credit union. At 6% the credit union is "adequately capitalized." Capital WHAT SHOULD A CREDIT UNION RISK ASSESSMENT LOOK LIKE A risk assessment should also address these specific items: Provide specifics regarding what conditions should prompt implementation of the plan and the process for invoking it. List immediate steps that should be taken during a disruption. Create flexibility for unanticipated scenarios and changing internal conditions. WHEN ASSETS BECOME LIABILITIES The entire geography of the business and economic world is shifting to a wholly new global configuration. When change is this fundamental, assets that organizations have created can become liabilities if those assets prevent the organization from doing something else to remain

competitive.

COMPENSATING DIRECTORS: WHAT'S FAIR AND WHAT'S FOUL He works closely with a number of credit unions on regulatory and lending issues. Dustin can be reached at (757) 259-3808 or dhdevore@kaufcan.com. Hazel C. Wong is an associate on Kaufman & Canoles’ Credit Union Team and she can be reached at (804) 771-5782 or hcwong@kaufcan.com.

BEST OF HR 2019

The coming year presents numerous opportunities and challenges for credit unions. Member engagement measures and financial performance are reaching new highs with credit union membership topping 121 million, the average member relationship exceeding $19,000 for the first time ever, and nearly 59% of members holding a checking account with their credit union. DIGITAL TRANSFORMATION: WHAT’S YOUR STRATEGY? BUILDING A CREDIT UNION CULTURE When Tom Ryan became CEO of Langley Federal Credit Union ($1.9B, Newport News, VA) in the summer of 2012, he succeeded a CEO who had been with the credit union 58 years. Ryan previously served as executive vice president and chief operating officer for Digital Federal Credit Union ($5.6B, Marlborough, MA) for more than 26 years, and the new position offered him the chance to embrace big ANATOMY OF A CREDIT UNION Anatomy Of GreenState Credit Union. GreenState Credit Union is the largest credit union in the state of Iowa. For the past two decades, the credit union has grown immensely despite the best, public efforts from financial adversaries due to its lending focus and lean

operations.

TOP TEN CREDIT UNION AUDITING/CPA FIRMS The top four positions remain unchanged from this time last year. CliftonLarsonAllen (CLA) tops the list with a total of 261 credit union clients with $40 million or more in assets. The nod for single largest gain goes to Detroit-based Doeren Mayhew, which added 34 credit union clients with more than $40 million in assets. It stays at

No. 2.

WHAT THE BAILOUT MEANS FOR CREDIT UNIONS Currently, $76 billion in NCUSIF credit union share accounts is uninsured. For all savings in the new coverage range of $100,000 to $250,000, credit unions may be required to send 1% of this total to the NCUSIF. If this percentage is 50% that would be $380 million up to $760 million, if all now uninsured funds were covered. 6 WAYS CREDIT UNIONS USE CDFI GRANTS Top-Level Takeaways. Forty-eight credit unions got $34.5 million of the $202.2 million awarded in the most recent round. The grants underpin payday and pay-here alternatives, small business lending, and growing community partnerships. Trump budget eliminates funding for CDFI grants, a repeat of past two years. Congress rejected both

efforts.

COMPENSATING DIRECTORS: WHAT'S FAIR AND WHAT'S FOUL He works closely with a number of credit unions on regulatory and lending issues. Dustin can be reached at (757) 259-3808 or dhdevore@kaufcan.com. Hazel C. Wong is an associate on Kaufman & Canoles’ Credit Union Team and she can be reached at (804) 771-5782 or hcwong@kaufcan.com. JANE DOBBS ON LEADERSHIP THE EVOLUTION OF THE CREDIT UNION LOAN PORTFOLIO Today, new and used loan balances total $70 billion and $122.5 billion, respectively, an improvement over recession-era balances of $80.2 billion and $98.1 billion. Today’s low interest rates are prompting consumers to replace older vehicles with more fuel-efficient models, and forecasts are calling for 15.5 million new vehicle sales

through

BEST OF HR 2019

The coming year presents numerous opportunities and challenges for credit unions. Member engagement measures and financial performance are reaching new highs with credit union membership topping 121 million, the average member relationship exceeding $19,000 for the first time ever, and nearly 59% of members holding a checking account with their credit union. DIGITAL TRANSFORMATION: WHAT’S YOUR STRATEGY? BUILDING A CREDIT UNION CULTURE When Tom Ryan became CEO of Langley Federal Credit Union ($1.9B, Newport News, VA) in the summer of 2012, he succeeded a CEO who had been with the credit union 58 years. Ryan previously served as executive vice president and chief operating officer for Digital Federal Credit Union ($5.6B, Marlborough, MA) for more than 26 years, and the new position offered him the chance to embrace big ANATOMY OF A CREDIT UNION Anatomy Of GreenState Credit Union. GreenState Credit Union is the largest credit union in the state of Iowa. For the past two decades, the credit union has grown immensely despite the best, public efforts from financial adversaries due to its lending focus and lean

operations.

TOP TEN CREDIT UNION AUDITING/CPA FIRMS The top four positions remain unchanged from this time last year. CliftonLarsonAllen (CLA) tops the list with a total of 261 credit union clients with $40 million or more in assets. The nod for single largest gain goes to Detroit-based Doeren Mayhew, which added 34 credit union clients with more than $40 million in assets. It stays at

No. 2.

WHAT THE BAILOUT MEANS FOR CREDIT UNIONS Currently, $76 billion in NCUSIF credit union share accounts is uninsured. For all savings in the new coverage range of $100,000 to $250,000, credit unions may be required to send 1% of this total to the NCUSIF. If this percentage is 50% that would be $380 million up to $760 million, if all now uninsured funds were covered. 6 WAYS CREDIT UNIONS USE CDFI GRANTS Top-Level Takeaways. Forty-eight credit unions got $34.5 million of the $202.2 million awarded in the most recent round. The grants underpin payday and pay-here alternatives, small business lending, and growing community partnerships. Trump budget eliminates funding for CDFI grants, a repeat of past two years. Congress rejected both

efforts.

COMPENSATING DIRECTORS: WHAT'S FAIR AND WHAT'S FOUL He works closely with a number of credit unions on regulatory and lending issues. Dustin can be reached at (757) 259-3808 or dhdevore@kaufcan.com. Hazel C. Wong is an associate on Kaufman & Canoles’ Credit Union Team and she can be reached at (804) 771-5782 or hcwong@kaufcan.com. JANE DOBBS ON LEADERSHIP THE EVOLUTION OF THE CREDIT UNION LOAN PORTFOLIO Today, new and used loan balances total $70 billion and $122.5 billion, respectively, an improvement over recession-era balances of $80.2 billion and $98.1 billion. Today’s low interest rates are prompting consumers to replace older vehicles with more fuel-efficient models, and forecasts are calling for 15.5 million new vehicle sales

through

CREDIT UNION MARKETING Visit Marketing to learn about credit unions strategies to attract members. Find vetted practices on branding, PR, social media, new member onboarding, engagement, and more. CREDIT UNION STRATEGIC PLANNING TOOLKIT A Strategic Planning Report Tailored For Your Credit Union. 2020 is just around the corner. As you prep and plan to have strategic conversations with your team start with a custom Strategic Planning Trend Report from Callahan. This report will be tailored to your credit union’s size, location, business strategies, and areas of

strategic focus

CREDIT UNION DIRECTORY Annual Credit Union Directory — Vol. 36. For more than 35 years, thousands of credit unions have trusted Callahan & Associates to provide comparative analysis and strategic insight.

MARKET SHARE GUIDES

2020 Supplier Market Share Guide: Credit Union Auditors. Callahan & Associates' 2020 Supplier Market Share Guide: Credit Union Auditors is the industry’s only publication designed specifically to help credit unions understand the auditor market and choose a CPA partner. Read

More Read Preview

ANATOMY OF A CREDIT UNION Anatomy Of GreenState Credit Union. GreenState Credit Union is the largest credit union in the state of Iowa. For the past two decades, the credit union has grown immensely despite the best, public efforts from financial adversaries due to its lending focus and lean

operations.

LIMITED VEHICLE SUPPLY AND RISING PRICES IN 2021: THE The auto industry is seeing a return in activity to pre-pandemic levels in many ways. For example, vehicle miles traveled for March 2021 surpassed 300 million miles for the first time since the summer of 2019.. Consumer confidence is also improving and jumped 21.3% in

March 2021.

DELINQUENCY MANAGEMENT DURING CORONAVIRUS Delinquency Management During Coronavirus Collections strategies should consider the outsourcing of early stage delinquency to experience the cost savings and compliant expertise as the delinquency rate remains uncertain. 5 WAYS TO FUND A FOUNDATION Royal Credit UnionData as of 06.30.18. First, interchange income on debit card transactions. Specifically, once per year the credit union directs a $0.02 contribution from every debit transaction to the foundation. Second, two community events each year support local non-profits and raise funds. HOW TO CREATE EFFECTIVE MARKETING ROAD MAPS Need To Register? Register to read, research, and engage with the industry on CreditUnions.com. Gain access to credit union performance analysis, case studies, and more. DIGITAL CAR SALES: 5 BEST PRACTICES FOR A BOOMING BUSINESS Need To Register? Register to read, research, and engage with the industry on CreditUnions.com. Gain access to credit union performance analysis, case studies, and more.

BEST OF HR 2019

The coming year presents numerous opportunities and challenges for credit unions. Member engagement measures and financial performance are reaching new highs with credit union membership topping 121 million, the average member relationship exceeding $19,000 for the first time ever, and nearly 59% of members holding a checking account with their credit union. DIGITAL TRANSFORMATION: WHAT’S YOUR STRATEGY? BUILDING A CREDIT UNION CULTURE When Tom Ryan became CEO of Langley Federal Credit Union ($1.9B, Newport News, VA) in the summer of 2012, he succeeded a CEO who had been with the credit union 58 years. Ryan previously served as executive vice president and chief operating officer for Digital Federal Credit Union ($5.6B, Marlborough, MA) for more than 26 years, and the new position offered him the chance to embrace big ANATOMY OF A CREDIT UNION Anatomy Of GreenState Credit Union. GreenState Credit Union is the largest credit union in the state of Iowa. For the past two decades, the credit union has grown immensely despite the best, public efforts from financial adversaries due to its lending focus and lean

operations.

TOP TEN CREDIT UNION AUDITING/CPA FIRMS The top four positions remain unchanged from this time last year. CliftonLarsonAllen (CLA) tops the list with a total of 261 credit union clients with $40 million or more in assets. The nod for single largest gain goes to Detroit-based Doeren Mayhew, which added 34 credit union clients with more than $40 million in assets. It stays at

No. 2.

WHAT THE BAILOUT MEANS FOR CREDIT UNIONS Currently, $76 billion in NCUSIF credit union share accounts is uninsured. For all savings in the new coverage range of $100,000 to $250,000, credit unions may be required to send 1% of this total to the NCUSIF. If this percentage is 50% that would be $380 million up to $760 million, if all now uninsured funds were covered. 6 WAYS CREDIT UNIONS USE CDFI GRANTS Top-Level Takeaways. Forty-eight credit unions got $34.5 million of the $202.2 million awarded in the most recent round. The grants underpin payday and pay-here alternatives, small business lending, and growing community partnerships. Trump budget eliminates funding for CDFI grants, a repeat of past two years. Congress rejected both

efforts.

COMPENSATING DIRECTORS: WHAT'S FAIR AND WHAT'S FOUL He works closely with a number of credit unions on regulatory and lending issues. Dustin can be reached at (757) 259-3808 or dhdevore@kaufcan.com. Hazel C. Wong is an associate on Kaufman & Canoles’ Credit Union Team and she can be reached at (804) 771-5782 or hcwong@kaufcan.com. JANE DOBBS ON LEADERSHIP THE EVOLUTION OF THE CREDIT UNION LOAN PORTFOLIO Today, new and used loan balances total $70 billion and $122.5 billion, respectively, an improvement over recession-era balances of $80.2 billion and $98.1 billion. Today’s low interest rates are prompting consumers to replace older vehicles with more fuel-efficient models, and forecasts are calling for 15.5 million new vehicle sales

through

BEST OF HR 2019

The coming year presents numerous opportunities and challenges for credit unions. Member engagement measures and financial performance are reaching new highs with credit union membership topping 121 million, the average member relationship exceeding $19,000 for the first time ever, and nearly 59% of members holding a checking account with their credit union. DIGITAL TRANSFORMATION: WHAT’S YOUR STRATEGY? BUILDING A CREDIT UNION CULTURE When Tom Ryan became CEO of Langley Federal Credit Union ($1.9B, Newport News, VA) in the summer of 2012, he succeeded a CEO who had been with the credit union 58 years. Ryan previously served as executive vice president and chief operating officer for Digital Federal Credit Union ($5.6B, Marlborough, MA) for more than 26 years, and the new position offered him the chance to embrace big ANATOMY OF A CREDIT UNION Anatomy Of GreenState Credit Union. GreenState Credit Union is the largest credit union in the state of Iowa. For the past two decades, the credit union has grown immensely despite the best, public efforts from financial adversaries due to its lending focus and lean

operations.

TOP TEN CREDIT UNION AUDITING/CPA FIRMS The top four positions remain unchanged from this time last year. CliftonLarsonAllen (CLA) tops the list with a total of 261 credit union clients with $40 million or more in assets. The nod for single largest gain goes to Detroit-based Doeren Mayhew, which added 34 credit union clients with more than $40 million in assets. It stays at

No. 2.

WHAT THE BAILOUT MEANS FOR CREDIT UNIONS Currently, $76 billion in NCUSIF credit union share accounts is uninsured. For all savings in the new coverage range of $100,000 to $250,000, credit unions may be required to send 1% of this total to the NCUSIF. If this percentage is 50% that would be $380 million up to $760 million, if all now uninsured funds were covered. 6 WAYS CREDIT UNIONS USE CDFI GRANTS Top-Level Takeaways. Forty-eight credit unions got $34.5 million of the $202.2 million awarded in the most recent round. The grants underpin payday and pay-here alternatives, small business lending, and growing community partnerships. Trump budget eliminates funding for CDFI grants, a repeat of past two years. Congress rejected both

efforts.

COMPENSATING DIRECTORS: WHAT'S FAIR AND WHAT'S FOUL He works closely with a number of credit unions on regulatory and lending issues. Dustin can be reached at (757) 259-3808 or dhdevore@kaufcan.com. Hazel C. Wong is an associate on Kaufman & Canoles’ Credit Union Team and she can be reached at (804) 771-5782 or hcwong@kaufcan.com. JANE DOBBS ON LEADERSHIP THE EVOLUTION OF THE CREDIT UNION LOAN PORTFOLIO Today, new and used loan balances total $70 billion and $122.5 billion, respectively, an improvement over recession-era balances of $80.2 billion and $98.1 billion. Today’s low interest rates are prompting consumers to replace older vehicles with more fuel-efficient models, and forecasts are calling for 15.5 million new vehicle sales

through

CREDIT UNION MARKETING Visit Marketing to learn about credit unions strategies to attract members. Find vetted practices on branding, PR, social media, new member onboarding, engagement, and more. CREDIT UNION STRATEGIC PLANNING TOOLKIT A Strategic Planning Report Tailored For Your Credit Union. 2020 is just around the corner. As you prep and plan to have strategic conversations with your team start with a custom Strategic Planning Trend Report from Callahan. This report will be tailored to your credit union’s size, location, business strategies, and areas of

strategic focus

MARKET SHARE GUIDES

2020 Supplier Market Share Guide: Credit Union Auditors. Callahan & Associates' 2020 Supplier Market Share Guide: Credit Union Auditors is the industry’s only publication designed specifically to help credit unions understand the auditor market and choose a CPA partner. Read

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CREDIT UNION DIRECTORY Annual Credit Union Directory — Vol. 36. For more than 35 years, thousands of credit unions have trusted Callahan & Associates to provide comparative analysis and strategic insight. ANATOMY OF A CREDIT UNION Anatomy Of GreenState Credit Union. GreenState Credit Union is the largest credit union in the state of Iowa. For the past two decades, the credit union has grown immensely despite the best, public efforts from financial adversaries due to its lending focus and lean

operations.

LIMITED VEHICLE SUPPLY AND RISING PRICES IN 2021: THE The auto industry is seeing a return in activity to pre-pandemic levels in many ways. For example, vehicle miles traveled for March 2021 surpassed 300 million miles for the first time since the summer of 2019.. Consumer confidence is also improving and jumped 21.3% in

March 2021.

DELINQUENCY MANAGEMENT DURING CORONAVIRUS Delinquency Management During Coronavirus Collections strategies should consider the outsourcing of early stage delinquency to experience the cost savings and compliant expertise as the delinquency rate remains uncertain. 5 WAYS TO FUND A FOUNDATION Royal Credit UnionData as of 06.30.18. First, interchange income on debit card transactions. Specifically, once per year the credit union directs a $0.02 contribution from every debit transaction to the foundation. Second, two community events each year support local non-profits and raise funds. HOW TO CREATE EFFECTIVE MARKETING ROAD MAPS Need To Register? Register to read, research, and engage with the industry on CreditUnions.com. Gain access to credit union performance analysis, case studies, and more. DIGITAL CAR SALES: 5 BEST PRACTICES FOR A BOOMING BUSINESS Need To Register? Register to read, research, and engage with the industry on CreditUnions.com. Gain access to credit union performance analysis, case studies, and more.

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ACQUIRING OUTSIDE TALENT BEGINS FROM WITHIN The home-grown talent acquisition department at Suncoast Credit Union relies on analytics and communication to keep the ranks full. LEADERS UNIVERSITY TURNS EMPLOYEES INTO FINANCIAL CHAMPIONS A new staff development program at Leaders Credit Union offers a diverse curriculum taught by internal and external experts. CREDIT UNION INVESTMENT BALANCES SURPASS $700 BILLION COVID-19 relief payments underpin a continued surge in deposits, challenging loan and investment portfolios to keep pace.

OUR BLOGS

Credit Union Investment Balances Surpass $700 Billion COVID-19 relief payments underpin a continued surge in deposits, challenging loan and investment portfolios to keep pace.

By Sam Taft

3 Mortgage Origination Trends From 2020 HMDA data sheds light on the U.S. mortgage market every year. Mortgage production flourished in 2020, but what else happened? By Samantha Cristobal Economic Optimism Runs High Look beyond the headlines to discover the driving forces behind market trends and consider how they impact a credit union’s investment

portfolio.

By Jason Haley

3 Takeaways From The First Quarter Of 2021 The lasting effects of the COVID-19 pandemic — and the national economic response to it — linger on credit union financial

statements.

By William Hunt

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PARTNER PERSPECTIVES Build It And They Will Come — And Stay: The Do-It-Yourself Digital

Storefront

With the right technology, credit unions can quickly design and go to market with the digital presence they need to retain and add members.

By VisiFI, Inc.

Credit Unions Must Double Down On Digital To Meet Member Needs The opportunity and competitive challenge has never been greater, and now is the time to take the digital initiative.

By Finastra

The New Paradigm: Offering Products And Services Consumers Want To

Use

How to ensure consistency across all service channels and end-user

satisfaction.

By Finastra

Building Stronger Relationships With Next Gen Digital Banking Savvy use of digital tools can expand core capabilities and make your credit union the go-to partner for the member experience and loyalty

journey.

By Finastra

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15 ALM Education: For Those Who Need to Sweat the Details (08:30 AM - 01:30 PM)

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22 Investment Trends & Insights For A Changing Economic Landscape (02:00 PM - 03:00 PM)

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A Force Of Change For Diversity, Equity, And Inclusion A 12-person group at Teachers Credit Union focuses on action and deliverables in its efforts to promote DEI at the Indiana cooperative.

By Erik Payne

3 Takeaways From The First Quarter Of 2021 The lasting effects of the COVID-19 pandemic — and the national economic response to it — linger on credit union financial

statements.

By William Hunt

What Has The Pandemic Taught Credit Unions About Branching? Senior branch managers from five credit unions share how COVID-19 challenges yielded opportunities to deepen member connections and broaden staff skills through cross-training.

By Marc Rapport

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* Donated fans will keep senior citizens cool this summer * Trust for Credit Unions’ Bond Portfolios Hit 100 Investor

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