|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.
CATALYST'S ANNUAL ECONOMIC FORUM updated
07/31/15 08:54 AM
Registration Now Open
Registration is now open for Catalyst Corporate's 38th annual Economic Forum, which will be held Oct. 5-7 at the Omni Mandalay Hotel, near Dallas, TX.
WCMS CELEBRATES ‘15 GRADUATING CLASS updated
07/28/15 08:42 AM
New Fellowship Announced
On July 23, Western CUNA Management School (WCMS) celebrated its 2015 graduating class—the NU Class—in an elaborate affair. Ninety-seven students graduated with Northwest Credit Union Association President and CEO Troy Stang serving as the commencement speaker.
NEW VERSION OF SPRIG BY CO-OP updated
07/24/15 12:29 PM
Available at iTunes and Google Play
An updated version of Sprig by CO-OP is now available at iTunes and Google Play—adding native apps, expanding transaction filtering, and enforcing enhanced security.
NCUA TESTIFIES BEFORE CONGRESS updated
07/24/15 09:24 AM
Chair Debbie Matz Speaks
As reported in the California and Nevada Credit Union Leagues' Advocacy Blog, yesterday the House Committee Financial Service, Subcommittee on Financial Institutions, and Consumer Credit had a very lively hearing where Debbie Matz, Chair of the National Credit Union Administration (NCUA), testified
NCUA APPROVES $1.3M REDUCED BUDGET updated
07/23/15 09:22 AM
Board Cuts Operating Fund
The National Credit Union Administration (NCUA) board approved a $1.3 million reduction to the 2015 operating budget, making better use of California and Nevada credit union dollars. Credit unions are obligated by law to pay into the NCUA, but that does not preclude the NCUA from its responsibility to operate in an efficient manner.
NCUA HEARING SLATED FOR JULY 23 updated
07/22/15 12:35 PM
Chairman Debbie Matz to Testify
The National Credit Union Administration (NCUA) Chairman Debbie Matz is scheduled to testify before the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit on Thursday, July 23 at 11 a.m. PT/2 p.m. ET. Please note this hearing was originally scheduled for Friday, July 24.
CA LEGIS. ADJOURNS FOR RECESS updated
07/21/15 09:15 AM
Bills Passed, Defeated, Pending
On Friday July 17, the California state legislature adjourned for summer recess and will return on Aug. 17 for the last month of the 2015 legislative session.
CREDIT UNION WASHINGTON UPDATE updated
07/20/15 11:50 AM
Congress in Session This Week
Nearly all state legislatures have recessed for 2015 with five remaining in regular session, including: Massachusetts, Michigan, New Jersey, North Carolina, and Wisconsin. The House and the Senate remain in session returning for another week in Washington.
WCMS PRES. HONORED AT COLLOQUIUM updated
07/17/15 02:39 PM
New Fellowship Announced
Western CUNA Management School (WCMS) hosted its annual Richard Myles Johnson Colloquium in Credit Union Philosophy event at Pomona College on July 15, celebrating the credit union movement’s achievements, along with Dr. James Likens who is retiring as CEO and president of WCMS this year.
GET RECOGNIZED. ENTER TODAY. updated
07/14/15 09:45 AM
Maxwell, Herring, Desjardins Awards
Be recognized for your outstanding programs that demonstrate the "People-Helping-People" philosophy. Submit your entry for the Dora Maxwell, Louise Herring, or Desjardins awards today!
SD ASSEMBLYMAN TALKS CU ISSUES updated
07/13/15 09:15 AM
CU Leaders Meet With Maienschein
Last Friday, San Diego credit union leaders met with Assembly-member Brian Maienschein (R-San Diego). Maienschein was elected to the Assembly in 2012 and served eight years on the San Diego City Council prior. Maienschein shared with the group his experiences in Sacramento as chair of the Assembly Local Government Committee and discussed credit union concerns related to data privacy and over-regulation.
NCUA, NTEU SIGNS EMPLOYEE CONTRACT updated
07/08/15 12:07 PM
Collective Bargaining Agreement
National Credit Union Administration (NCUA) Board Chairman Debbie Matz and National Treasury Employees Union (NTEU) President Colleen Kelley signed a new, five-year collective bargaining agreement, keeping the employee pay and benefits program competitive with the other financial services regulators as required by law.
AB 83 HEADS TO SENATE FLOOR updated
07/08/15 11:47 AM
Data Security Measure Gains 5-1 Vote
On July 7, after a substantive debate, the California State Senate Judiciary Committee approved AB 83 by Assemblyman Gatto (D-Glendale) by a 5-1 vote margin. The California Credit Union League testified in support of the measure that now advances to the Senate floor for a vote of the entire house.
'REACH 2015’ QUICKLY APPROACHING updated
07/07/15 08:50 AM
Rethink What’s Possible
REACH 2015, the California and Nevada Credit Union Leagues' highly-anticipated convention, is happening in four months in Palm Desert. Are you ready?
CCUL SECURES AMENDMENTS TO SB 34 updated
07/06/15 11:52 AM
Uninterrupted Use of ALPR
After months of tense negotiations, the California Credit Union League state lobbying team has secured amendments to SB 34 (Senator Jerry Hill D-San Mateo/Santa Clara Counties), which will allow credit unions, other auto lenders, and vendors to continue uninterrupted use of Automated License Plate Reader (ALPR) information to recover their collateral. The California legislature has embraced a broad view of consumer privacy this year and is seeking to restrict the use of ALPR information for legitimate business and prevent someone with an axe to grind to use the information to stalk someone. SB 34 will be heard in the Assembly Privacy Committee on Tuesday, July 7.
OC CU LEADERS MEET ASSEMB BROUGH updated
07/06/15 11:13 AM
Assemb Brough Shares Common CU Bond
On the eve of America's 239th birthday, credit union leaders met with state Assemblyman Bill Brough (R-Dana Point). Brough was one of several Orange County-area legislators elected in 2014 with the potential to serve up to 12 years in the legislature. Brough shared with the group his professional experience with credit unions dating back to his time as an aide to Congressman Christopher Cox who also represented the Orange County area.
CUNA, CMG: LOAN GROWTH ’15 & ‘16 updated
07/06/15 10:49 AM
Double-Digit Increases Year-Over-Year
The Credit Union National Administration (CUNA) and CUNA Mutual Group (CMG) economists expects loan growth to reach 11 percent in 2015 for the national economy, greater than the 10.4 percent increase in 2014. They forecast a minimum 10 percent growth in 2016.
NEW RIDE-SHARE RULES EFFECTIVE updated
07/02/15 04:30 PM
Insurance for Companies, Drivers
A new law requiring transportation network company (TNC) drivers and companies to have liability insurance when operating the ride-share app went into effect July 1, 2015.
SHARED CEO MODEL AND SMALL CUs updated
07/01/15 11:51 AM
CEO Jon Hernandez Shares Insight
Mattel FCU, Calcom FCU, and Nikkei CU CEO Jon Hernandez is armed with the task of running three credit unions as independent institutions, complete with their own memberships and boards. However, a savvy business man and leader, Hernandez takes advantage of economies of scale and shared resources when it makes.
CUES HONORS INSTITUTE GRADS updated
07/01/15 03:11 PM
Four from CA CUs
Four leaders from California credit unions are recent grads of the CUES Governance Leadership Institute: John Buttril, director at Xceed Financial CU; Edward Fujimoto, Supervisory Committee chair at California CU; Norma Iadevaia, board chair at University CU; and David Ostash, board chair at AltaOne FCU. A total of 39 credit union board members and executives from around the country graduated, each earning the distinguished Certified Credit Union Director (CCD) designation.
LATEST ‘MEMBERS FIRST IN ACTION’ updated
06/30/15 11:02 AM
Q2 2015 Activities from the Leagues
In this Members First In Action update, we recap the second quarter and year-to-date benefits extended to your credit union as a valued member of the California and Nevada Credit Union Leagues and Credit Union National Association (CUNA).
Congress Out, Meet with CU Leaders updated
06/30/15 10:25 AM
Southern California Credit Union Leaders Meet with Long Beach Representative Alan Lowenthal
With Congress in their districts for the 4th of July Recess, credit union leaders are at work with our congressional delegation. Today, leaders from Long Beach and Orange County met with Rep. Alan Lowenthal (D-Long Beach) at LBS Financial Credit Union. Congressman Lowenthal is a long time credit union supporter — he also told the group that he has been a member of LBS Financial CU for more than 46 years!
O.C. ECONOMIC FORECAST updated
06/30/15 09:30 AM
Local Conditions Gain Momentum
Picture this: It’s January 2017. Seven years into the recovery, your local Orange County economy has found a sweet spot among California and the United States. It’s humming along nicely—not too slow, not too fast. And the past two years? Smooth sailing.
NCUA BANS PERIODIC MEM. FEES updated
06/26/15 07:44 AM
FCUs May Not Charge Periodic Fees
The National Credit Union Administration (NCUA) announced that federal credit unions cannot charge periodic membership fees, according to a letter to the American Bankers Association.