Sessions

Learned in the Fintech World: What it Takes to Get Ahead When Making FinTech Decisions

Keynote Presenter: Keith Dunlap, TruStage Ventures

In this session, Keith Dunlap will offer essential guidance for credit unions as they navigate the fintech landscape. He will emphasize the need for credit unions to understand the fintech ecosystem, align new technologies with their strategic goals, and manage risks effectively. Dunlap will stress the importance of prioritizing member needs and fostering a culture of innovation and agility. Additionally, he will highlight the benefits of collaborating with fintech startups and industry partners to drive successful digital transformation.

Cracking the Code: How Credit Unions Can Win Over Gen Z

Presenter: Harrison Hochman, Co-founder & CEO of Sparrow

Engaging and retaining the next generation of membership isn’t a luxury, it’s a necessity. At the same time, only 4% of Gen Z banks with a credit union. In today's competitive landscape, credit unions must reimagine their approach to forge lasting relationships with the next generation of members. Learn from CEO of Sparrow and credit union technologist, Harrison Hochman, on how to:

Decode Gen Z and Millennials: Understand their unique values, expectations, and communication preferences.

Become their financial hero: Craft a compelling value proposition that resonates with their aspirations and goals.

Outmaneuver the competition: Discover cutting-edge tactics and strategies to win the battle for Gen Z.

Build lasting relationships: Implement best practices for fostering multi-product loyalty and long-term engagement.

Members’ Expectations Are Evolving, Are We?

Presenter: Amy Robertson, TruStage

Based on a survey of over 1200 US consumers conducted in Q1 of 2023 (repeated from a 2019 study) Attendees will learn:

Top member worries:

How they view the difference between branch and on-line experience

How we can leverage these insights to create actionable tactics

How to think holistically about a multi-channel member experience

Key Takeaway: Understanding and adapting to changing member expectations, especially in terms of digital and branch experiences, is crucial for credit unions to remain relevant and responsive.

Unlocking New Non-Interest Income

Presenter: Catherine York Powers, Contant Ai

We’ll explore one of the most pressing challenges facing credit unions today: the need to diversify revenue streams in light of increased regulatory scrutiny on traditional fee sources. Historically, credit unions have relied on NSF, overdraft and related fees which can make up 25-50% of their non-interest fee income. For a credit union with $1B in assets, the loss of this income can be in the millions depending on how exposed the credit union is.

With overdraft and NSF fee income at historic lows, credit unions are looking for ways to diversify revenue. Offering loan protection (LPPs) and other insurance products continuously throughout the life of the loan as an alternative provides a new source of revenue - and restores lost non-interest fee income.

Key points we'll cover during the session:

The current state of credit union fee income
Regulatory pressures on "junk fees" and their potential financial impact
How loan protection products (LPPs) can create sustainable revenue throughout the loan lifecycle
Strategies to increase LPP portfolio penetration beyond the typical <30% sold at origination
How to rebuild fee income by leaning into automation

Navigating the Risks of Instant Payments: A Comprehensive Assessment

Presenter: Jessica Lelii, Macha

Instant payments systems have revolutionized the way we transact, offering real-time, 24/7 access to funds. However, this speed and convenience also introduce new risks that require careful consideration. This session will provide a glimpse into the key risk factors associated with instant payments, exploring how financial institutions can effectively assess and mitigate them.

In this session we will explore:

Overview of instant payment systems and their benefits

Key characteristics and differences from traditional payment methods

Risk Factors in Instant Payments

Risk Assessment

Risk Mitigation Strategies

Migrating from Transactions to Conversations – Setting Your Branches, and People, up for Success

Presenter: PW Campbell

For as long as we can remember, the branch was a place where routine transactions were taken care of, job functions were specialized, and limited conversations took place quickly to move people along – all behind a barrier called a teller line or closed in office. Now, this new generation of members want one-on-one conversations, education, and advice; experts who can help them through life’s important moments, like buying a house, setting up a retirement account or paying for college. They want open spaces, natural light, and environments that feel like home, along with the ability to perform self-service functions at the touch of a button. Good service is no longer defined by “how quickly you can get me out of here” but is now defined by “how good can you educate me”. From designing the look, feel, and functionality of a branch based on member needs, to streamlining branch operations to free up time; to training your employees to have conversations about life’s important moments and transitioning to the universal staffing model; this session covers both sides of the spectrum and your two most important assets – people and branches.

Enhance Your Credit Union’s Digital Offerings

Presenter: Nicholas Hinrichsen, Clutch

The Credit Union industry has made a tremendous amount of progress in embracing technological advancements to stay competitive and meet the evolving needs of their members. Digital transformation, however, goes way beyond picking technology providers: The 3 key elements are: people, processes, and technology. By examining the experiences of diverse industries that have undergone digital transformation, Credit Unions can learn valuable lessons on avoiding the pitfalls of not having the right people in place, ignoring key processes that lead to success or failure and by selecting a fragmented technology landscape. Take a step back and consider digital transformation as a holistic process with people, processes and technology as the key ingredients to success.

Town Hall – the Future of VACUL

Presenter: Samantha Beeler (LSCU) and Karima Freeman (VACUL)

We’ll be discussing the newly proposed strategic partnership between the League of Southeastern Credit Unions and the Virginia Credit Union League. This collaboration is a significant milestone, combining the strengths of both organizations to better serve our members.

Samantha Beeler, the President of League of Southeastern Credit Unions, along with Karima Freeman, President of the Virginia Credit Union League,will share insights and answer your questions about the proposed consolidation at both sessions. We know you may have questions about what this partnership means for you and our future, and we’re here to provide clarity in an open, engaging discussion.

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