Two years ago, CUNA and NAFCU—the credit union system's two primary trade associations—merged to form America's Credit Unions. But was that the right move? In this episode, the Defense Credit Union Council's (DCUC) president and CEO, Tony Hernandez, explains why he's expanding the organization's reach and remit to provide credit unions with more support, different services, and a second voice on Capitol Hill.

Highlights:

01.00: Tony Hernandez discusses his distinguished Air Force career and how it led him to the Defense Credit Union Council (DCUC) ... and an awkward conversation with his wife.

07.35: An overview of how DCUC has expanded its remit to be a broader, more representative voice for the credit union system as a whole.

15.33: The argument for having greater representation, and how the banking industry has proved that it works.

18.43: How DCUC collaborates with America's Credit Unions on certain advocacy efforts, but how and why it's important it remains its own authority, too.

20.00: Why DCUC has offered to foot the bill for a CFPB Credit Union Advisory Council.

Links:

https://www.dcuc.org/

A little over a month into his tenure as President and CEO, NACUSO's Randy Salser joins us to discuss his vision for the Credit Union Service Organization trade association. For Salser, it's a case of getting back to basics, doubling-down on where NACUSO can add the greatest value, and maximizing impact through its channels and events.

Key takeaways:

03.30: Randy's vision for NACUSO to be at the center of an ecosystem where fintech, CUSOs, and credit unions can strategize together, learn from, and share with each other.

05.45: The relationship, differences, and nuances between CUSOs and non-CUSO fintech—and how they're both designed to support the credit union system.

08.17: NACUSO should focus on "surgical" advocacy and, while lending its name and weight to larger national calls, prioritize its core value proposition.

13.10: Randy's plans for the first three months of leading the organization.

17.40: How NACUSO's Reimagine event is a prime opportunity for credit unions and CUSOs alike to rediscover the value the organization offers to the system, microscopically and macroscopically.

20.53: Busting the big myths that prevent more exposure of and engagement with CUSOs.

Resources discussed:

https://nacuso.com/

https://www.reimaginenacuso.com/

While many credit unions grapple with low liquidity and a high cost of borrowing, Iowa-based Veridian seems to be bucking the trend. In this episode, the credit union's CLO, Kara Van Wert, discusses how her team is winning with younger members, using fintech to drive growth, and embracing AI to improve underwriting and streamline borrowing ... and the results are there for all to see.

Key Takeaways:

1. 01.25: An overview of why Veridian's average membership age is so much younger than their peer set.
2. 02.49: Reflections on risk management, particularly relating to ongoing loan portfolios that were inflated in the wake of the pandemic.
3. 05.25: Kara discusses how Veridian's mindset regarding fintech has evolved from viewing them purely as competitors to seeing them as critical partners.
4. 07.17: The impact of AI on Veridian's lending and underwriting processes, in the past, present, and in the future.
5. 11.10: How the credit union looks to mitigate bias in AI models and ensure inclusive lending.
6. 14.25: How Veridian has grown loans by 12% year-on-year, from $6.5 billion to $7.2 billion.
7. 18.00: Exploring Veridian's auto program and how much that has contributed to their strong loan growth.
8. 19.57: The challenges of increasing cost of funds, and how credit unions can navigate them.

Resources Mentioned:

Veridian Credit Union: www.veridiancu.org

LendKey: www.LendKey.com

Zest AI: www.zest.ai

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