Free Webinar! FedNow: Faster Payments, Future, Feasibility

What is FedNow?  FedNow is the new instant payment service from the Federal Reserve Bank. Although still in development, this service will enable financial institutions of every size to provide safe, efficient, instant payment services in real time, every day of the year, every hour of the day.  Since this is the newest payments channel offering from the FRB in decades, there are a lot of questions to answer. What is it? How will it be accessed? What features and functionality will be included? What are the use cases for FedNow? When will it be available? How do we prepare?

Learn the answers to these questions by watching this free on-demand webinar presented by the Payments Professor, Kevin Olsen!

Mountain West Credit Union Association President and CEO Scott Earl Announces Retirement

MWCUA President and CEO, Scott Earl

PHOENIX, Az. & Denver, Co. (November 29, 2021) – Mountain West Credit Union Association (MWCUA) President and CEO Scott Earl is announcing his plan to retire at the end of June 2022. As President and CEO of MWCUA, Earl advocates on behalf of member credit unions, 4.2 million credit union members and $65 billion in assets throughout Arizona, Colorado, and Wyoming.

Earl has served in his current role since the formation of MWCUA in 2011 with the merger of the Arizona Credit Union League, the Credit Union Association of Colorado, and the Credit Union Association of Wyoming. At the time of the merger, Earl was serving as President and CEO of the Arizona Credit Union League, a position he held since 2007.

Spanning nearly 40 years, Earl began his credit union career in 1982 as the marketing director at the Utah Credit Union League. He spent 22 years with that organization, the last 12 years as CEO. He also had the opportunity to run the Credit Unions for Kids Program at Children’s Miracle Network and serve as vice president of league relations and disaster preparedness at the Credit Union National Association.

During his tenure, Earl has led efforts:

  • Championing the use of blockchain technology leading to the creation of CULedger, now Bonifii, which enables trusted digital transactions.
  • Looking for new and innovative ways to serve credit unions in compliance led to a partnership with AffirmX, a top-tier compliance solution. This later led to the purchase of the AffirmX technology with 7 other leagues and service organizations to create CU Risk Intelligence (CURI).
  • Credit Union Vendor Management (CUVM), a CUSO originally owned by 8 Colorado credit unions and MWCUA, was purchased by MWCUA, CU Solutions Group and Leverage and has grown into another effective solution for credit unions.
  • As a member of the first Development Educator (DE) class in 1982, Scott was instrumental in the early years of this program serving as a mentor and member of the core staff. The DE Program is administered through the National Credit Union Foundation.
  • In 1997, Scott spent several weeks in Moldova working with a small international group to draft the country’s first Credit Union Act.
  • During his tenure in Utah, the state became the epicenter of banker attacks. Scott worked closely with outstanding Utah credit union leaders to beat back each attack.
  • Assisting and supporting MWCUA members during the COVID-19 pandemic including spearheading efforts to recognize credit unions on the state level with designations as “essential services,” and actively participating with each state’s leadership’s emergency response. Further supporting members through the creation of a pandemic-specific resource bank on the MWCUA website, and organizing regular town hall meetings with legislators, regulators, economists, and other subject-matter experts to assist credit unions as financial first responders.
  • Redefining and building out a grassroots political advocacy engagement system that continues to grow and be a model for other Leagues.

 

“The Board of Directors expresses its heartfelt gratitude for Scott’s tireless dedication and service, not only to the credit unions in the Mountain West region, but to the entire credit union movement itself,” said Todd Marksberry, Board Chair and President & CEO of Canvas Credit Union (Lone Tree, Colo.). “Scott’s leadership, integrity and heart for our credit unions, our members and our communities has been an inspiration for so many credit union leaders over the years. And his legacy of servant leadership will have a lasting impact on our credit union family for many years to come. We thank Scott and wish him, his wife, Bonny, and their family all the best in his retirement.”

In addition to his work at MWCUA, Scott serves on the Credit Union National Association Board of Directors, treasurer of Credit Union House, the Plexcity Board of Directors, the Bonifii Board of Directors, the League InfoSight Board of Directors, the CU Risk Intelligence Board of Directors, and is a past member of the CUNA Strategic Services (CSS) Board of Directors. He was chairman of the American Association of Credit Union Leagues (AACUL), chaired the Credit Union Legislative Action Council (CULAC), was on the Filene Research Institute’s Board of Directors and served twice as a trustee for Western CUNA Management School.

“I have been tremendously blessed to work in such a meaningful and fulfilling movement throughout my entire career,” Earl said. “I have had many opportunities to work alongside colleagues whose passion and heart have developed credit unions into what they are today, the consumer’s best financial partner. I’m proud of our efforts at the Association, having created a regional system of support and collaboration for our members. I’m certain the work we began with the formation of the Association in 2011 and over the past decade is a solid foundation for an exciting and bright future.”

The Mountain West Credit Union Association Board has named a search committee to determine the path forward for the Association.

About the Mountain West Credit Union Association

The Mountain West Credit Union Association is the regional trade association representing member credit unions, 4.2 million credit union members and $65 billion in assets throughout Arizona, Colorado and Wyoming. Founded in 2011, the Mountain West Credit Union Association serves and supports the interests of member credit unions through advocacy, community outreach, education and training, public affairs, regulatory and compliance services, and strategic partnerships. Follow us on twitter at twitter.com/mwcua, Facebook at facebook.com/mwcua and Instagram at instagram.com/mwcua. To learn more visit mwcua.com.

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Media Contact: Patti Hazlett, Director of Public Affairs

720.355.2828

 

WY-Focused Compliance Lunch & Learn on Nov. 18

Calling all Wyoming compliance and operations members! The next Compliance Lunch & Learn, taking place in virtual format on November 18 is for you. This session will focus mainly on Wyoming regulations, however, members from all states are welcome to attend.

The topic is Privacy & Releasing Member Information to Third Parties, led by general counsel and attorney Mark Robey, SVP of Regulatory Affairs at Mountain West Credit Union Association.

Learn the Wyoming statutes as well as federal laws and regulations for your credit union to follow when sharing, or asked to provide, members’ financial information to third parties.

Cost: $50/person
Discount: $25/ person with two or more attendees from the same credit union

To register, and learn more, click here.

12 .Serve Don’t Judge and Other Leadership Perspectives with Andrew Downin

In The Movement Podcast

Episode 12

Serve Don’t Judge and Other Leadership Perspectives with Andrew Downin

Welcome to In The Movement Podcast with your show hosts Christopher Kemm and Austin De Bey, to discuss what’s happening in the credit union movement. Each episode will feature leaders talking about history and current affairs and how we can utilize our expertise to educate, communicate, and mobilize to better serve our movement.

Meet Andrew Downin

Andrew Downin has been with Vantage West since 2018 and has held leadership positions at the country’s most notable credit unions for two decades. In addition, Andrew led research and innovation at Filene Research Institute, the think tank for the U.S. credit union movement. He is a frequent speaker and contributor to industry publications, and his insights have appeared in publications including The New York Times, Credit Union Magazine, and Credit Union Times. Andrew earned his undergraduate degree in Accounting from the University of Arizona and his MBA from Pepperdine University. On advisory boards for CUNA Mutual Group and Filene Research Institute, Andrew enjoys volunteering with Future Business Leaders of America. 

Bringing the Mission to Life

Seeing the possibilities within a marketing role, Andrew was able to really define his philosophy as a leader in our movement, by solidifying his value and importance of who we are here to serve and how the mission of credit unions brings tools consumers need to get ahead in life in a tangible way for his members. 

Listen in to find out how Andrew uses his different leadership perspectives and taking the latest data on credit unions to grow his credit union and how they reached out and incorporated local businesses in a branding and awareness campaign. Learn How consumers view their credit union and how credit unions serve their communities.

  • Share this podcast with a friend and leave us a review!

 

Show Highlights

[03:25] How Andrew started out in his career in the credit union.

[09:35] Working for a credit union through Disney gave him bigger and better opportunities.

[15:22] Taking the credit union service to a new level.

[20:56] Credit union research report that Andrew uses to build his credit union.

[31:18] Usage of the term credit union and how that applies to consumer perception.

[38:58] How Andrew is using other credit union products for his clients.

Episode Links and Resources

Check out Vantage West on the web

Not a Bank Ad – Behind the scene view

Andrew on Linkedin

Subscribe to our show on Podbean

Connect with us on social media

Tweet with us on Twitter 

Austin on Linkedin

Chris on Linkedin

Contact Chris via email ckemm@mwcua.com

 

Regulatory Compliance Newsletter – November 8, 2021

11.08.21 Regulatory Compliance Newsletter

  • OSHA Issues COVID 19 ETS Requiring Vaccine or Testing for Large Employers
  • New CFPB Guide for Family Members of Elders
  •  CFPB Director Chopra on Stablecoin
  • IRS Issues Additional $510 Million In Refunds
  • CFPB Releases Debt Collection Rule Guidance Documents
  • NCUA Extends MDI Mentoring Grants Application Deadline to Nov. 14

 

Regulatory Compliance Newsletter – November 1, 2021

11.01.21 Regulatory Compliance Newsletter

  • HMDA Reminder – Use the 2020 Census Data Beginning January 1, 2022
  • Tech Companies Ordered to Provide Info to CFPB
  • NCUA Board Approves Final Rules on CUSOs and CAMELS Rating System, Briefed on Cybersecurity
  • MLA Database Users Must Keep Accounts Active
  • NCUA Issues Guidance, Announces Upcoming ECIP Action

Regulatory Compliance Newsletter: October 25, 2021

10.25.21 Regulatory Compliance Newsletter

  • NCUA Issues Guidance, Announces Upcoming ECIP Action
  • Risk Alert: Business Email Compromise through Exploitation of Cloud-Based Email Services
  • Ransomware Information: Virtual Currency
  • OFAC Guidance for Virtual Currency Industry
  • What’s Happening with LIBOR??
  • Registration Open for the NCUA Automated Cybersecurity Evaluation Toolbox Webinar

11. Juntos Avanzamos  ”Together We Advance”  with Pablo DeFilippi

In The Movement Podcast

Episode 11

Juntos Avanzamos  “Together We Advance”  with Pablo DeFilippi

Welcome to In The Movement Podcast with your show hosts Christopher Kemm and Austin De Bey, to discuss what’s happening in the credit union movement. Each episode will feature leaders talking about history and current affairs and how we can utilize our expertise to educate, communicate, and mobilize to better serve our movement.

Meet Pablo DeFillipi

Pablo is a passionate financial executive who serves as the Senior Vice President for networking and membership engagement at Inclusive. Originally from Chile, he started his credit union career in the United States based on a recommendation from a social studies teacher. Starting with Municipal Credit Union in New York City, Pablo then joined the Lower Eastside People’s Federal Credit Union – a nationally recognized credit union serving underserved populations in New York City. He became the CEO of Lower Eastside in 2004 and went on to work with the World Council Credit Union, and is currently serving as an executive at Inclusive.

Giving Access to Basic Financial Services to Underserved Populations

Even though New York City is a major global financial hub, many of its residents don’t have access to essential financial services. “I couldn’t understand how that worked.” He quickly realized that big corporations weren’t willing to close the financial gaps he found in the banking industry. 

Listen in to find out how credit unions can make financial tools available to minorities, how Pablo and his company are filling the financial gap for minorities, and three of the best lessons Pablo has learned during his career in finance.

  • Share this podcast with a friend and leave us a review!

Show Notes:

[04:34] Pablo’s journey from his early days in banking to his current executive banking position. 

[07:56] When Pablo discovered that the underserved population in NYC didn’t have basic financial services.

[11:43] Immigrants want to build their lives, communities, and future in the US.

[20:53] Three biggest takeaways Pablo has learned through his career journey.

[36:02] The financial framework that can break through ethnic and economic barriers.

Episode Links and Resources

Pablo – inclusiv 

Follow Inclusiv on Twitter

Pablo on Linkedin

Subscribe to our show on Podbean

Connect with us on social media

Tweet with us on Twitter 

Austin on Linkedin

Chris on Linkedin

Contact Chris via email ckemm@mwcua.com