updated 08/13/13 11:00 AM
Engaging Speakers Draw Diverse Crowd
The 2013 Shapiro Summit brought together a diverse group of more than 50 credit union leaders last weekend to share their experiences and successes within the challenging, yet rewarding, world of small credit unions.
Members of the Shapiro Advisory Committee with California and Nevada Credit Union Leagues staff (L-R): Diana Michaels, CEO of Western Healthcare FCU and Chairman of the committee; Chris Bruno, CEO of McKesson Employees FCU; Lucy Ito, EVP and COO of the Leagues; Chuck Papenfus, CEO of Inland Valley FCU; Nancy Blackstock, CEO of Atchison Village CU; Steven Serfozo, CEO of McClatchy Employees CU; Deanne Figueras, Manager of Meetings, Conventions, and Small Credit Union Support for the Leagues; Suzanne Leedale, CEO of SLO CU; Shannon Workman, CEO of Lutheran Credit Union of America; and Pat Redo, CEO of Monterey County Employees CU
Click here to view a photo gallery of the summit and reception!
Lucy Ito, executive vice president and COO of the California and Nevada Credit Union Leagues, welcomed attendees and thanked the audience for taking time on a Saturday to come together for a day of networking, brainstorming, and learning. Small credit unions are integral to the credit union movement's philosophy, she said.
The summit—held at the Leagues' headquarters in Ontario, CA—comes at a time when the economy and regulatory environment are dealing small credit unions a mixed bag. Sustainability is being reinforced by a slow-growing economy, higher consumer confidence, and generally increasing membership. Nonetheless, rules and regulations remain a major hurdle.
Meanwhile, engaging members through mobile and tablet technology is a huge focus, as well as simplifying product-and-service offerings.
"Do we have to have every product for every member? No," said Diana Michaels, CEO of Western Healthcare FCU and Chairman of the Shapiro Advisory Committee.
She described her credit union's changes to policies, underwriting, monitoring, and risk-based lending since the recession ended in 2009. "Members are so happy we're giving them a loan, they're listening to our advice on how they can make good financial decisions."
The day before, Leagues President and CEO Diana Dykstra sat down with CEOs at a roundtable event to get their thoughts on how the California League can better serve Shapiro Group credit unions ($50 million in assets and under), gaining feedback from those who attended. The Shapiro Networking Reception held afterwards proved invaluable to CEOs looking to connect with their peers.
Besides Michaels, the summit's run-down of speakers the next day included:
  • Brad Ganey, senior vice president and COO of Catalyst Corporate FCU—Ganey discussed how even though a small credit union has limited resources, it can still launch a quality mobile app for members. Start simple, only focusing on the most important items members need, and build up from there.
  • Michael Richards, managing associate of Richards and Associates CPAs—Richards gave an accounting and regulatory update, and focused on a current proposed rule by the Financial Accounting Standards Board (FASB) on Allowance for Loan and Lease Losses (ALLL), interest-rate risk policy and program requirements, regulatory issues, and financial trends at California credit unions.
  • Lucy Ito, executive vice president and COO of the Leagues—Ito gave an overview of the Leagues six new business units and what they can do to help credit unions succeed.
  • Rita Fillingane, vice president of research and collaboration for the Leagues—Fillingane talked about two free services member credit unions can take advantage of: CU PolicyPro and RateMap.
  • David Creager, manager of grassroots advocacy for the Leagues—Creager gave an update on state and federal politics and legislation, as well as California and Nevada efforts within the national Don't Tax My Credit Union campaign.
  • Sharon Lindeman, vice president of regulatory advocacy for the Leagues—Lindeman talked about PowerComment, the latest solution for giving credit unions the power to make their voice heard on the regulatory advocacy front.
  • Holly Herman, principal of AchievingSkills.com—Herman gave a useful overview of time management strategies before breaking participants into discussion groups to tackle specific small credit union issues, such as membership growth, loan growth, fee income, leveraging technology, and products per member.
The day before, Deluxe Laboratories FCU CEO Jason Makohon was the recipient of this year's Cathy Arra Memorial Scholarship. The scholarship was created in memory of longtime Shapiro Group manager and League employee Cathy Arra, who passed away in 2011.
    © 2014 California Credit Union League