|L-R: Hank Barrett, CEO of Valley First CU; Robin Lentz, CEO of Cabrillo CU; and Jeff Napper, CEO of LBS Financial CU|
'REACH': THREE CA CEOs SPEAK OUT
updated 10/03/13 09:07 AM
Rekindled Optimism Shines Forward
With the California and Nevada Credit Union Leagues' 2013 Annual Meeting and Convention right around the corner, three CEOs have stepped up to share how their credit unions are modeling the concept of “reach up, reach out, reach deep” to create meaningful and lasting relationships with members.
Their individual stories uncover an age-old principle within the credit union movement—when you put members first, everyone succeeds.
Valley First CU
CEO: Hank Barrett
Assets: $500 million
Headquarters: Modesto, CA
In His Own Words...
We’re reaching out by looking at our relationship with members and whether we’re both benefiting from that relationship. We’re examining how our ties with them can be more beneficial without being a financial burden on us.
We’re also trying to educate them about the self-sufficiency of using internet and mobile banking. We want to move them to a place that’s more advantageous for both of us since we’ll be establishing more electronic delivery points in the future.
Overall, we want to do what’s fair. We attempt to educate them so they won’t get hammered with big fees. We want to work with them. If we see that they’re having a tough time, we assist in getting them to a better place.
We reach deep by being very intertwined in our communities. We’re active in fundraisers, nonprofit organizations, and some major groups on a regular basis. We’re part of the community, so we give back to the community.
We’re reaching up by watching what other credit unions are doing and talking to them. We don’t think we know everything. We are not reinventing the wheel, but instead we’re learning from where others have gone before us.
Our credit union also reaches up by being engaged in the political arena. We can’t just talk to credit union-friendly candidates only during the campaign season—we have to be there the entire way and build relationships. We must represent our members’ interests by standing together politically.
CEO: Robin Lentz
Assets: $195 million
Headquarters: San Diego, CA
In Her Own Words...
Our credit union is trying to reach up, out, and deep through the decisions we make every day at work. Although our field of membership has expanded over the years, we have never forgotten our roots. We’ve had a strong relationship with the U.S. Border Patrol since we were chartered in 1955 to serve them.
As a result of this, their employees call on us when they need a variety of services, including Fallen Agent Memorial Accounts—an account set up for donations to help those affected when a border patrol agent is killed in the line of duty. We are also involved in the patrol’s “musters” and other events, and are at their disposal for any special needs they may have.
Understanding our members’ specific needs has helped us develop products and programs. More recently, we introduced the Sequestration Advance Loan in response to the impact from the federal government’s budget sequestration. This loan is interest-free for 60 days, advances up to $2,500, and can be repaid over 24 months. More than 800 members took advantage of it within the first two weeks.
We also offer “early Friday paydays,” payroll advance loans, advances for DMV fees, and a program on auto loans where we pay members $50 if we can’t meet or beat an interest rate offered by a competitor.
One time a border patrol agent was wrongly accused of beating up an illegal immigrant. He was fired and faced criminal charges. He came to us for help with his loans, and we were able to work with him while he was on trial.
In the end, he was exonerated and reinstated with the Border Patrol. He was so grateful we worked with him during that terrible time that he brought his entire family in to personally thank our collection employees. We were the only creditor that helped him.
LBS Financial CU
CEO: Jeff Napper
Assets: $1 billion
Headquarters: Long Beach, CA
In His Own Words...
We’re focusing on making a difference in the lives of our members by building trust and showing compassion for their individual financial situations. We believe that trust, compassion, and our employees are the key ingredients to building lasting and unique relationships.
Handling money requires us to build confidence with our members. If change occurs frequently at the employee level, members develop a sense of distrust.
Fortunately, our employee turnover rate remains very low. We want to offer a unique “stick and stay” workplace culture for employees so that they can develop a long-lasting bond with members. If there’s frequent employee turnover, it becomes impossible for these relationships to form. We put a lot of attention toward caring for employees so they will exhibit that same compassion to our members.
We track our success by reaching out to members randomly each week to find out how they feel about their credit union, and we review reasons for account closures. We also recently implemented a member feedback tool that disseminates information from our call center and branches immediately to key staff for follow-up purposes.
We’re reaching up by looking at the bigger picture and deepening relationships, reaching out by listening to our members’ opinions, and reaching deep through compassion.
ACCEPTING APPS: CU ADVISORY COUNCIL updated
01/27/15 11:00 AM
Eight Seats Vacant in Fall 2015
The Consumer Financial Protection Bureau (CFPB) is accepting applications for membership on its Credit Union Advisory Council and inviting individuals who can provide the bureau with guidance as it carries out its work.
CONGRESSMAN VISITS TRAVIS CU LEADERS updated
01/27/15 10:39 AM
DeSaulnier Makes it a Top Priority
As first reported on the California and Nevada Credit Union Leagues’ Advocacy Blog, newly sworn-in Rep. Mark DeSaulnier, D-CA, attended a district meeting at Travis CU on Jan. 23.
CLARK COUNTY CU AWARDS DIVIDENDS updated
01/22/15 02:07 PM
$2.7 Million to 34,000 Members
For Clark County CU, 2014 was a successful year as the credit union closed out with a healthy net worth ratio of 11.77 percent and recorded an annualized net income of nearly $12.3 million. This afforded the credit union to award a whopping $2.7 million in bonus dividends to nearly 34,000 members. Each bonus averages $79 per member, with the highest single bonus totaling just more than $10,000.
BIZ KID$ FINANCIAL GRANTS AVAILABLE updated
01/21/15 12:41 PM
Application Deadline is March 31
Promote financial literacy at your credit union and in your community with a Biz Kid$ Financial Education Grant from the National Credit Union Foundation (NCUF). Apply for the grant by March 31, 2015.
IMMIGRANT EVENT ANSWERS QUESTIONS updated
01/20/15 11:41 AM
Los Angeles Councilman Speaks
With President Barack Obama’s recently issued executive order on immigration, something transformative could be in store for credit unions serving immigrant communities—but it’s going to take more knowledge, more action, and a desire to understand the culture and language surrounding this group of individuals.
NCUA's SECOND RBC PROPOSAL updated
01/15/15 10:32 AM
New Draft More Favorable
The Leagues are thoroughly reviewing the National Credit Union Administration’s (NCUA) 450-plus page Risk-Based Capital Proposed Rule in detail to understand its components and potential impact. It seems this second proposed rule is more favorable than its first draft, and that most of our requests were at least partially addressed.
RBC DISCUSSION VIDEO AVAILABLE updated
01/15/15 03:45 PM
Captures Revised Plan
The Credit Union National Association (CUNA) video of today's National Credit Union Administration (NCUA) open board meeting discussion of a new risk-based capital (RBC) plan is now available for viewing.
NCUA PAYS FOR DATA BREACH updated
01/15/15 02:33 PM
Palm Springs FCU Receives Up To $50K
The National Credit Union Administration (NCUA) board has approved payment of up to $50,000 for costs associated with a data breach at Palm Springs FCU late last year.
CO-OP PROCESSED 3B IN 2014 updated
01/14/15 11:04 AM
Sets New Record
CO-OP Financial Services processed more than three billion electronic funds transfer (EFT) and shared branch transactions by credit union members in 2014—an 8 percent increase compared to 2013. This sets a new record for CO-OP.
CUs MEET WITH NCUA, CFPB OFFICIALS updated
01/13/15 09:44 AM
2nd RBC Proposal, Overdraft Discussed
California and Nevada credit union leaders met last week with officials from the National Credit Union Administration (NCUA) and Consumer Financial Protection Bureau (CFPB) to discuss the agencies’ regulatory impact on credit unions.
CO-OP ANNOUNCES THREE PROMOTIONS updated
01/12/15 12:18 PM
New CIO, CMO, and SVP
CO-OP Financial Services has promoted three employees to new positions: Terrence Griffin has been promoted to chief information officer; Samantha Paxson to chief marketing officer; and Connie Trudgeon to SVP of network operations and implementation.
'GAC' AND 'GRR': TWO POWERFUL EVENTS updated
01/12/15 04:37 PM
Your Voice is Needed
The credit union movement needs YOUR voice in Washington, D.C., Sacramento, and Carson City this year as discussions take place on legislative policies that may affect credit unions at the state and federal levels, as well as regulatory issues.
WCMS PRES. RETIRES AFTER 44 YEARS updated
01/09/15 04:44 PM
James D. Likens To Serve Through 2015
Western CUNA Management School (WCMS) officials have announced that Dr. James D. Likens will be retiring from his post as president and CEO of the school at the end of 2015. Likens will continue to direct the school through the end of the year.
CA/NV CUs CAN VIEW RBC DIALOGUE updated
01/09/15 02:26 PM
CUNA to Record NCUA Session
California and Nevada credit unions will have the opportunity view the National Credit Union Administration (NCUA) risk- based capital (RBC) discussion meeting on Jan. 15.
SEN. BOXER NOT SEEKING RE-ELECTION updated
01/08/15 10:22 AM
Served Two Decades in U.S. Senate
In a video announcement earlier this morning, Senator Barbara Boxer (D-CA) stated she will not seek re-election in 2016 when her term expires. Her retirement announcement is not unexpected.
DYKSTRA TALKS LEADERSHIP updated
01/08/15 09:04 AM
California and Nevada Credit Union Leagues President and CEO Diana Dykstra was recently interviewed by CUToday.info to share her thoughts on leadership and management. In this interview, Dykstra talks about communication, working with board of directors, staying relevant, and more.
LEAGUES OFFICIALLY LAUNCH 'PLEXCITY' updated
01/06/15 10:13 AM
Unique Shared-Service Vision
The California Credit Union League, Maryland and District of Columbia Credit Union Association, and New Jersey Credit Union League officially launched Plexcity on Jan. 2—a new shared-services company that will aggregate accounting and finance, human resources, and information technology departments for trade associations across the nation.
CUNA ANNOUNCES REORGANIZATION updated
01/06/15 02:06 PM
Changes to Senior Leadership Team
The Credit Union National Association (CUNA) has announced the reorganization of its senior leadership team in an effort to streamline and better serve the needs and interests of credit unions.
114TH CONGRESS BEGINS TODAY updated
01/06/15 01:43 PM
Leagues Join Aguilar in Swearing-In
Today is the beginning of the 114th session of Congress and the California and Nevada Credit Union Leagues was there to welcome members.
JENSEN JOINS LEAGUES' ADVOCACY TEAM updated
01/05/15 11:29 AM
Will Represent CUs in Sacramento, Carson City
Courtney Jensen has joined the California and Nevada Credit Union Leagues as legislative advocate, where she will support and promote credit unions at the state level.
CMN FUNDRAISING REMITTANCE updated
01/05/15 10:51 AM
Submission Deadline: Jan. 16
If your credit union raised funds for Children’s Miracle Network (CMN) Hospitals in 2014, please submit your funds on or before Jan. 16 to count toward 2014 fundraising totals. Click here to access the form, which includes mailing instructions, along with your fundraising check.
CA CUs GAIN CORPORATE REPRESENTATION updated
01/05/15 10:15 AM
Steve Devan on Catalyst Board
For the first time since the corporate credit union world experienced enormous regulatory changes, a sizeable number of California credit unions are gaining a voice on the board of directors at a large corporate: Steve Devan, CEO of $90-million-asset Grossmont Schools FCU in El Cajon, CA.
NCUA'S MCWATTERS CONFIRMED FOR 'GAC' updated
01/05/15 03:31 PM
Private Session With CU Leaders
The California and Nevada Credit Union Leagues have confirmed a private session with National Credit Union Administration (NCUA) Board Member J. “Mark” McWatters for California and Nevada leaders during the Credit Union National Association’s (CUNA) 2015 Governmental Affairs Conference (GAC).
EVENTS YOU DON'T WANT TO MISS updated
01/02/15 09:03 AM
Top Seven Events of 2015
We all realize how fast time flies, and 2015 will be no exception. Below are the top seven events designed specifically for you our members in 2015.