Marketplace Newsletter

IN THIS ISSUE:

CUNA Mutual Group's Discovery Conference Now Available On-Demand

Drive Innovation, Today and Tomorrow

CO-OP Financial Services Launches Cooper Fraud Analyzer into Pilot Testing

5 Best Practices for Planning & Executing Your Credit Union Strategy

There are Risk-Free Options for Credit Unions to Offer What Members Want

Strengthen Member Relationships by Offering TurboTax: America's #1 Online Tax Preparation Service

CUNA Mutual AdvantEdge Analytics Launches New Industry Data Platform Integrated with Microsoft's Common Data Model

Sprint Credit Union Member Cash Rewards Stackable Offers

Aging Credit Union Membership

Best Practices Lead to Best Results

CO-OP Financial Services Introduces Cardless Cash Access for ATMs

Upcoming Webinars


 

DISCOVERYCONF

CUNA Mutual Group’s Discovery Conference Now Available On-Demand

Free Online Conference Helps Credit Unions Drive Innovation for Today & Tomorrow

CUNA Mutual Group's ninth annual, day-long Discovery Conference brought together innovation experts and credit union leaders to help credit unions prepare for upcoming 2019 strategic planning sessions. The conference is now available on-demand, at no cost, until Feb. 28, 2019.

“Our Discovery Conference gave credit union leaders a tremendous opportunity to gain real insights from industry experts and learn what’s ahead. It’s just one of the ways we’re helping credit unions grow and prepare for the challenges of tomorrow,” said Robert N. Trunzo, president and CEO, CUNA Mutual Group. “If you missed the live event, it’s not too late. You can still participate by accessing the conference content on-demand by simply registering,” he added. 

Credit unions that register may leverage and share best practices and conference materials, including sessions, hot topic chats, and materials from the “inspiration stations” in the exhibit hall, with their staffs through Feb. 28, 2019.

Scott Bales, global futurist, innovation & digital strategist, and managing director of Innovation Labs Asia, opened and closed the conference with keynote addresses helping credit unions uncover their competitive edge and how to serve the modern consumer. Eight breakout sessions took place between the opening and closing keynote addresses and covered topics such as the economy, auto lending, data and analytics, lending in a rising interest rate environment, the future of payments, and what’s impacting small credit unions. View the agenda for more details.

All credit union and league employees are welcome and encouraged to register to access conference content on-demand. Register at www.cunamutual.com/discovery.

The Discovery Conference is the credit union industry’s leading online conference hosted annually by CUNA Mutual Group for credit union leaders. Participants enjoy the conveniences of attending sessions and hot topic chats virtually with on-demand content available 24/7 following the conference. Discovery’s on-demand sessions are available here at no cost.

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Drive Innovation, Today and Tomorrow 

Strategic planning is both an obligation and an opportunity. Credit unions who plan well, execute well and employ innovation are the ones you read about today … growing faster, staying more relevant and becoming financially stronger. What makes one credit union’s plan better than another? Often, it is about how you plan as much as what you plan. Achieve more out of your planning by:

  • Staying Strategic! Comfort lies in tactics over strategy. As a result, efforts drive to shorter-term results. The key to great strategy is to stay strategic. Drive planning efforts at true long-term initiatives (at least three years out) before focusing on short-term tactics to achieve those goals.
  • Focusing on fewer strategic initiatives. Don’t take on too much. You will achieve far more with 3-5 strong initiatives and your resources (talent, time and money) will achieve a greater return on their investment with a few strong, high-impact initiatives, too.
  • Prioritizing tough. Create a simple scoring system to prioritize activities and to be consistent with measuring their importance. This allows you to make tough decisions when resources become tight.
  • Executing well. Develop a solid plan with clear timelines, roles and responsibilities. Make managers and leaders accountable for continuous progress to milestones and results through a cadence of review meetings and reporting.

Remember the right actions help lead to your desired results. Effort alone doesn’t guarantee results. Tie strategic activities to measures and focus on the following for true balance and strength in the future:

  • Create magic for your members (and future members): Member experience is crucial. Not all financial institutions, nor members, are alike. Create strategies to connect segments of members together. Deliver products in non-traditional ways or with special features. Understand what will appeal to your various segments and deliver.
  • Increase efficiencies to optimize effectiveness: Technology is a key driver for your credit union and provides an opportunity to increase efficiency. Optimize and integrate your technology to help both your members and employees be more productive. Don’t overlook your basic processes - steps in every channel should be quick and easy.
  • Don’t forget your people: Your talent on the front line creates your member experience. Your talent in the back office creates productivity and operational effectiveness. Your leaders create the culture. Every person in your organization matters, even in a world of digital delivery and interactive teller machines. Build a strong plan for the development of your people, including skill building, knowledge sharing and leadership training.
  • Build innovation into your plan: Disruption happens. By building innovation into your plan, you can manage changing technology and delivery systems proactively. For example, harnessing the power of data and analytics will help you make better decisions in many areas of your operations, including all of those listed above.

Want to learn more? CUNA Mutual Group’s Online Discovery Conference is now available on-demand, at no cost, until Feb. 28, 2019. View the conference at www.cunamutual.com/discovery.

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CO-OP Financial Services Launches Cooper Fraud Analyzer into Pilot Testing

Data-Driven Fraud Mitigation Tool to be Introduced as Security Benefit of CO-OP Shared Branching

CO-OP Financial Services has launched COOPER Fraud Analyzer, its advanced data-driven fraud mitigation tool, into pilot testing with four participating credit unions in the CO-OP Shared Branch network.

“It is CO-OP’s job to make sure that our clients have access to the best technology to combat fraud and protect their members,” said Todd Clark, President/CEO of CO-OP. “We believe the most effective answer lies in developing a machine learning and artificial intelligence solution that we can bring to our credit unions at scale. The launch of COOPER Fraud Analyzer into client testing marks a major milestone in the evolution of CO-OP as a financial technology provider, and it is particularly significant in that we are first providing this tool to one of the industry’s most valuable assets, the CO-OP Shared Branch network.”

During the testing period, shared branch account-based transactions will automatically flow through COOPER Fraud Analyzer from the pilot credit unions. The CO-OP team is monitoring the activity generated through COOPER, listening to feedback from the credit unions and paying close attention to the client experience journey. This will help ensure the seamless rollout of COOPER Fraud Analyzer across the entire CO-OP Shared Branch network before the end of the year.  

Following completion of pilot testing, CO-OP will make COOPER Fraud Analyzer available to the more than 1,800 participating credit unions of CO-OP Shared Branch as a security benefit built into the network. The CO-OP network comprises more than 5,700 locations nationwide, making it the second largest system of financial services branches in the U.S.

COOPER Fraud Analyzer, first announced by CO-OP at the THINK 18 conference in May, is an account-based risk management solution that uses rules and decisioning to instantly identify fraudulent transactions.

COOPER Fraud Analyzer looks for common fraud scenarios in the account-based environment, such as new account fraud, in-branch teller fraud and fraudulent check deposits. The system evaluates data like transaction type, amount and speed. By quickly identifying questionable activity and reporting it to credit unions, COOPER Fraud Analyzer helps protect account holders and build member trust in their credit union.

Following the general availability of COOPER Fraud Analyzer, CO-OP will be introducing COOPER Fraud Score, using machine learning to create a risk-scoring model that determines the level of suspicion for a transaction. This capability will be available on account-based and card-based CO-OP products in 2019.

Ultimately, COOPER technology will be leveraged for understanding members and predicting patterns for greater member engagement and more precise targeting to anticipate member needs.

 For more information on COOPER Fraud Analyzer, visit www.co-opfs.org/cooper.

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5 Best Practices for Planning & Executing Your Credit Union Strategy

Strategic planning at a credit union is different than strategic planning at other organizations.

Here are 5 best practices to keep in mind as you move into strategy planning season and get ready to execute.

1. Keep your plan focused

Planning is exciting and that excitement can make you want to tackle everything! But not everything is equally important. Do the hard work of determining what will really move the needle for your credit union. You don't have unlimited resources so be objective in your analysis. What you say no to is just as important as what you say yes to.

2. Use the right technology

A strategy is only well executed when the team maintains focus on it day after day after day. Technology is one of the best ways to make that happen. For example, PlanningPro gives you a portal where the plan's progress can be instantly seen and regularly updated. Technology also allows a leader to create board-ready reports with the click of a button. These efficiencies remove barriers to success and propel execution forward. Click here to see a demonstration of PlanningPro.

3. Have an outsider's perspective

Both HBR and Seth Godin suggest a similar question be asked during strategy sessions, "What would an outsider do?" Take yourself out of your current role and look at things with a fresh pair of eyes. This way of thinking frees you to see solutions and possibilities that aren't always easily visible to a deeply entrenched leader.

4. Be crystal clear about who is responsible for what

Research shows that organizations execute their strategies significantly better when people know what they are responsible for. For as simple as that sounds, it is often overlooked especially as time passes from the plan's creation. Credit unions use PlanningPro to show exactly who is responsible for what part of the plan and how the plan is progressing. That level of visibility reinforces the plans importance and likelihood of success. 

5. Find empowering ways to hold your team accountable

It's going to happen. Someone is going to fall short on the execution of their strategy. When that occurs, there are empowering ways to hold people accountable and destructive ways. Having a way of communicating that has positive, long-term effects is critical. We recommend the communication model at VitalSmarts to best manage those situations.

No organization helps credit unions with their strategic planning and execution better than CU Solutions Group. Reach out today to have a conversation about our strategic planning moderation or PlanningPro, the technology that brings your strategic plan to life.

Contact Isaac Mallory for more information at This email address is being protected from spambots. You need JavaScript enabled to view it. or (734)793-6408.

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There are Risk-Free Options for Credit Unions to Offer What Members Want

More and more credit unions are getting into the credit card arena. Jumping into a new program can be scary, or at least overwhelming, with all the requirements of getting it set-up, initial fees, etc. However it’s becoming a resource many members want; some even demand when choosing a new financial resource to manage their money. After all, credit cards are no longer the scary gamble popular opinion once branded them. They are a fantastic tool for responsible members to keep more money on deposit and build their credit rating.

Even members who never use cards like having them at their disposal in case of emergencies. If the car breaks down or the washing machine goes silent, it is better to take advantage of traditionally lower rates on a credit union credit card than put the family budget in constraints. Not to mention many cards offer attractive rewards programs.

Fortunately for credit unions, getting into a credit card program doesn’t need to be overwhelming, or frightening. There are programs that mitigate many of the risks, and some that remove them from the equation completely. A credit union just has to make sure they look at certain key aspects before committing.

For instance, a major issue can be start-up fees and the operational headache of getting a new credit card program off the ground. There are referral programs specifically designed for credit unions that cost nothing and require no implementation effort of the CU’s part. They simply set you up with a website to enter interested members’ applications, and they will take over the process, from underwriting to printing and delivering the plastic and managing the accounts. That means they also assume the associated risks that might have kept your credit union from offering a card in the past.

The best of these will even provide your credit union with free marketing materials for your branch and banners for your website to let your members know to come to you for any credit card needs. Such programs provide all necessary documentation and disclosures, right down to the necessary disclaimers to make sure your credit union is never at risk of non-compliance.

While compliance and low-risk are major priorities for credit unions when looking at credit card programs, let’s face it, the question we all ask is “how does this benefit my members and my credit union?” We’ve already talked a little about the benefits credit cards provide to members, so let’s look at what’s in it for you. Put simply, free money. If you pick the right program, that is. The EZ Launch program offered by LSC® is a prime example of a risk-free credit card referral program for credit unions. Aside from charging no set-up fees and providing free marketing materials, EZ Launch pays credit unions. That’s incremental income to you for a simple referral.

These are the programs your credit union needs to look for if you’re serious about providing a credit card option to your members. The time is definitely now. Over 60% of credit unions across the country offer a credit card. It’s what your members want, and can truly be a great tool for them. Find the right program that meets their needs and increases your credit union’s bottom line. Contact Laura Parrish at This email address is being protected from spambots. You need JavaScript enabled to view it. for more details.

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Strengthen Member Relationships by Offering TurboTax: America’s #1 Online Tax Preparation Service

Over 34 million federal returns were prepared with TurboTax last tax season — that’s more than any other tax preparation provider! And last season, the Love My Credit Union Rewards TurboTax program served 227,514 members, saving them over $1.6 million with the credit union member discount.

Don't let your members miss out. Enroll to participate in the TurboTax program today!

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Add value for your members: Enhance the value of credit union membership by offering your members discounts on TurboTax products.Credit Union and Member Benefits

  • Promote your brand within TurboTax: Your logo and ads promoting your credit union's products and services on your co-branded microsite drive affinity and revenue.
  • Be your members’ trusted advisor: Stay at the center of your members’ financial lives by helping them get their taxes done right.
  • Increase engagement with members: This offer gives members more reasons to engage online with your credit union.
  • Free and easy to execute: Setup, marketing assistance and ongoing support from CU Solutions Group at no cost to you or your members.

Why Members Choose TurboTax

  • The leader in tax software: TurboTax is the #1 best-selling tax software, helping Americans keep more of their hard-earned money.
  • Taxes done right, guaranteed: TurboTax guarantees our calculations are 100% accurate. Plus, TurboTax finds every tax deduction and credit to get your members their biggest tax refund, guaranteed.
  • Real CPAs, real confidence: With the new TurboTax Live™ product, members do their taxes with live CPA advice on demand and a one-on-one, detailed review before they file.
  • Security: TurboTax works hard to safeguard your members’ information, so they can file their taxes confidently.

Enroll your credit union today to enhance the value of your membership and give your members the confidence they need to get their taxes done right! Visit www.LoveMyCreditUnion.org/PartnerCenter to enroll.

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CUNA Mutual AdvantEdge Analytics Launches New Industry Data Platform Integrated with Microsoft’s Common Data Model

Industry-Leading Data Platform Designed to Power Analytics Models for Credit Unions Debuts at Microsoft Inspire 2018

CUNA Mutual AdvantEdge Analytics announced it has launched its new data platform for the credit union industry, which leverages Microsoft’s technology. This collaboration between Microsoft and AdvantEdge Analytics, announced in March, debuts one of the first industry-specific Common Data Model extensions designed for credit unions. The announcement is in conjunction with Microsoft Inspire 2018.

The AdvantEdge Analytics™ Data Platform helps credit unions digitally transform by expanding their ability to connect and scale to any data system or third-party technology, ultimately improving the member experience. AdvantEdge Analytics’ customers, Idaho Central Credit Union, Michigan Educational Credit Union and Randolph-Brooks Federal Credit Union (RBFCU) are currently in private preview with the new platform and will begin full implementation shortly.

“The collaboration between Microsoft’s technology leadership and our extensive experience working with credit unions creates the industry standard that delivers the full value of data analytics to our industry,” said Tim Peterson, president, AdvantEdge Analytics. “The new AdvantEdge Analytics Data Platform significantly advances our industry’s data capabilities to truly help credit unions digitally transform and improve the member experience.”

The newly launched data platform delivers deeper insights into a credit union’s business data through one standardized way of organizing their data assets. The AdvantEdge Analytics Data Platform seamlessly integrates into the Microsoft digital toolset, which will allow insights to be gleaned out of Microsoft Power BI and other tools like Microsoft Dynamics 365, Microsoft Power Apps and Microsoft Flow in the future.

“AdvantEdge Analytics’ financial services expertise, combined with Microsoft’s expertise in business applications and analytics, will benefit credit unions through the industry-focused application on top of Microsoft’s Common Data Model,” said Charles Lamanna, general manager, Application Platform, Microsoft Corp. "As data continues to transform entire industries, we are pleased to see AdvantEdge Analytics use this standard to help our customers transform big data into real insights."

AdvantEdge Analytics will co-present with BCU at Microsoft Inspire 2018 and introduce the new platform to an audience of leading business and technology decision makers.

AdvantEdge Analytics provides an industry-leading integrated suite of software tools and insight activation services. The company is focused on building scale, better member intelligence and accelerated analytics adoption to help credit unions strengthen market share and build long term growth.

For more information, please visit: www.advantedgeanalytics.com/DataPlatform.

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Sprint Credit Union Member Cash Rewards Stackable Offers

The Sprint Credit Union Member Cash Rewards program is a great added benefit of credit union membership to your members. With the program you members get cash rewards directly deposited into their account, annual loyalty rewards every year for each line and a deeper relationship with your credit union.

On top of these perks, there are many additional, stackable offers from Sprint that your members can take advantage of and save even more!

Stackable Offers

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Plus, the Sprint Credit Union Member Cash Rewards program is stackable with most short term promotions, including new phone offers and Sprint Saturday promotional events.

Help your members get the most out of their credit union membership and Sprint account by taking advantage of all these combinable offers! If you have any questions, contact Laura Parrish at This email address is being protected from spambots. You need JavaScript enabled to view it. or Client Support at This email address is being protected from spambots. You need JavaScript enabled to view it. .

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Aging Credit Union Membership

A Survival Guide

Credit unions face an aging membership base. At the recently held immersion18, Trellance’s annual conference, a survival guide was presented for credit unions to prepare for and counter this trend.

The average age of a credit union member is 47. This means that most members are past their prime borrowing years. Income from interest is the biggest line item on almost every credit union’s income statement, therefore if members are moving from borrowing age to saving age, the average Return on Member (ROM) will start to decline. That’s not to say that savers aren’t valuable members. A credit union needs both.

Much has been written about the need and difficulty reaching and acquiring millennials as members. But the reality is that the older half of this generation are looking much like the previous generation; they are starting families, needing mortgages, and are saddled with student loans. The younger half of the generation is out of college and looking to establish credit. Credit unions are well positioned to fulfill the needs of millennials, but many don’t. Why is this? Partially because the demographic has so many dichotomies that it’s impossible to offer one set of products that works for everyone.

Millennials apply for credit cards at higher rate than any other generation.

According to CNBC, “1 in 6 millennials have $100,000 saved.” At the same time, “fewer than half of millennials, the largest generation of U.S. consumers, have credit scores that will qualify them for credit accounts” according to id analytics. “One-third of millennials cannot be scored by a credit bureau due to their lack of credit history, and of the ‘scoreable’ group, two-thirds of consumers under 30 have subprime or non-prime credit scores.” So clearly there’s a need to be served, this is a potentially profitable segment, but there are challenges. However, there are a few credit unions that have added products or services that make the credit union much more relevant to young members.

“Alexa, how do I apply for a credit card?”

Fairwinds Credit Union wanted to add access to their services in a way that was meaningful to an increasingly digital generation, so they created Virtual Advisor, voice and social media access to banking. Virtual Advisor provides access through Alexa, Facebook, Google home and SMS to banking services such as applying for a credit card, reporting a lost debit card, querying the credit union’s routing number, or asking questions such as “What does refinancing mean?” These services are available through Virtual Advisor and can be done online, but more millennials are accustomed to speaking to Siri and Google rather than sitting in front of a screen.

Maps Credit Union set out to address the need for younger members to establish credit history. They implemented loan programs to help members build credit. And to go along with that Maps offers education and outreach to position the credit union as a financial partner. For example, Maps hosts financial education events at local breweries to reach older millennials, and offer classes on credit scores, basic banking, and saving money at local high schools.

Michigan State University FCU offers different accounts to different age groups. The Dollar Dog Kids Club is a savings program for ages 5-12, Cha-ching for ages 13-17, and a Totally Green Checking Account and companion Platinum Visa Card are for college students. Not surprisingly, their average member age is 39!

Four ingredients to grow your credit union’s membership base.

These credit unions that have had success in addressing the aging member problem, all have four common traits. Each of them embrace technology, provide financial literacy, offer competitive products, and offer wealth services and advice, tailored to targeted age groups.

For more information or expertise on growing your credit and debit portfolio to acquire and retain members, register for one of Trellance’s Payments Academy sessions: September 11-13October 16-18  and November 6-8. You can also get in touch with an expert at This email address is being protected from spambots. You need JavaScript enabled to view it. .

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Best Practices Lead to Best Results

As regulators shift focus, fully disclosed financial services still matter

Following the recent passage of the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155 ) – which was intended to roll back some of the regulations of the Dodd-Frank law for smaller financial institutions – the Bureau of Consumer Financial Protection (Bureau) issued requests for information (RFIs) seeking comments on a range of topics related to its rulemaking authority. This follows multiple RFIs the Bureau has issued since the beginning of the year, under Acting Director Mick Mulvaney, to gauge reaction on how it is fulfilling its consumer protection function.

As a result, numerous industry groups, financial institutions, and individuals have weighed in with appeals for the Bureau to review its existing rules and rulemaking processes to possibly:

  • streamline regulatory requirements;
  • eliminate outdated or superfluous requirements;
  • provide exemptions for certain institutions; and
  • adopt rules that are transparent, fully consistent with the law and focused on promoting the financial interests of consumers.

So, while regulators continue to fine tune existing rules and consider ways to relieve the regulatory burden on smaller financial institutions, what steps can banks and credit unions take to maintain confidence that their overdraft solution is actually working in the best interest of their account holders? Especially since earlier this year – after extensive review and on-going input – the Bureau removed any mention of a new ruling on overdraft programs from its Spring Rulemaking Agenda.

Stick with strategies that have proven results

By adhering to long-established Best Practices, you can rest assured that your institution’s overdraft program is in lockstep with regulatory and consumer protection expectations. Importantly – from a service quality perspective – this will also ensure that you are providing account holders with a responsible solution for meeting their financial service needs.

  1. Commit to Full Disclosure

With busy lives that are focused on work, family and personal obligations, sometimes consumers have difficulty keeping track of their checking account balance. Providing a clear explanation of the benefits and responsibilities of your overdraft service should be an essential element of your discussion during account openings. But it doesn’t stop there.

Research tells us that in order to remember information, people need to hear it multiple times. This can be especially true when it pertains to something that isn’t top of mind every day. On-going communication about account status, overdraft program procedures and fees can ensure less account holder confusion and lead to more effective program usage.

And providing overdraft users with instructions on how to contact account service personnel – if they have questions about an account, or need information on additional programs and account management options – is a great way to demonstrate your commitment to their financial well-being.  

  1. Use Policies That Are Fair and Balanced

Consumers rely on their bank or credit union to provide transparent, easy-to-understand and fairly priced service options. And regulators expect nothing less. You can increase account holder confidence in your service delivery and decrease your risk of potential examiner scrutiny when you implement overdraft program policies that prioritize excellent service over excessive fees, and empower your account holders to maintain control of their finances.

  1. Monitor Who’s Using the Program and How It’s Being Used

Maintaining accurate tracking of account activity is essential for effectively managing a successful overdraft strategy. For best results, program software should provide comprehensive, easy-to use reports that identify benchmarking data on usage trends, as well as insight into the program’s overall performance. This will allow you to make adjustments in areas where improvements can be made.

Another feature to look for is the ability to automatically distribute account holder communications materials to keep program users informed about their account activity. If your program does not offer this level of information, then you probably aren’t getting optimal results and your account holders aren’t getting a fully disclosed solution.

  1. Know How to Explain It

The secret sauce of an effective, fully compliant overdraft solution is having well-informed employees who possess a complete understanding of how your program works, as well as the ability and confidence to convey that message accurately to account holders.

Keep in mind, successful employee training programs take into account the scheduling, logistical and knowledge-level needs of your team. The availability of in-person and web-based training, as well as group and one-on-one sessions also ensures that all participants will benefit no matter what their learning style.

Partner with an expert for best overall outcomes

It all boils down to this. It’s much easier to remain between the lines of consumer protection expectations when you work with an overdraft program provider that maintains the highest level of compliance knowledge and an on-going awareness of what’s happening in the regulatory landscape.

And when the program’s processes, procedures and pricing are based on Best Practices, it becomes a valuable financial service that positively impacts an account holders’ ability to maintain financial stability, and a worry-free, compliant source of non-interest income for banks and credit unions.

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CO-OP Financial Services Introduces Cardless Cash Access for ATMs

Seamless, Secure Enhancement Improves ATM Experience, Eliminates Card Skimming Losses

To help credit unions meet digital consumer expectations and enhance security, CO-OP Financial Services is adding cardless ATM transactions to its roster of digital banking and payment solutions. The new Cardless Cash Access allows members to withdraw cash faster and more securely at the ATM by using their phones, rather than a plastic card, to initiate and complete a transaction.

CO-OP is the first credit union fintech provider to offer cardless cash access as part of ATM network and terminal driving services. Based on the latest ATMIA Global Fraud and Security Survey, published in January 2018, ATM Skimming and PIN compromise was one of the most common ATM fraud attacks in 2017. Cardless access solves this problem as the solution uses QR code technology – no card and PIN required. 

“As with most iterative technology, the ATM channel continues to evolve alongside user expectations,” said Todd Clark, President/CEO, for CO-OP. “One of the most significant ways the ATM improves is through integration with other technology, whether that’s back-office data and reporting tools or consumer-facing UX software. Seamlessly connecting the ATM to the smart devices consumers rarely leave home without is a continuation of this progress. It’s something we know credit union members, especially those who are highly mobile and technology savvy, are going to love.”

How Cardless Cash Access Works

Credit unions add the Cardless Cash Access feature to their own mobile banking app. The accountholder is then able to log-in to the app and stage the cash withdrawal. Once at the ATM, the accountholder selects the Cardless Cash Access option, leading the ATM to display a dynamic token or QR code. The accountholder then scans the QR code with the mobile app and when authentication is complete, the cash is dispensed.

Cardless Cash Access can be used on Diebold Nixdorf and NCR ATMs within the CO-OP ATM network, and managed by CO-OP Terminal Driving services. 

Cardless Cash Access Helps Fight Fraud

Clark emphasized that when it comes to payments innovation, especially in the self-service realm, security controls must be a priority. The growth of cardless transactions is expected to reduce fraud because it makes card skimming impossible. By removing the card from the transaction all together, the technology eliminates the risk of mag-stripe data compromises at the terminal.

Aside from the fraud prevention benefits, Clark said cardless ATM capabilities will allow credit unions to accelerate their digital transformation. “Through digital transformation, credit unions are aiming to deepen member engagement, boost transactions, solidify their differentiation and drive growth. Cardless Cash Access checks each of those boxes while also reducing fraud.”

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Come Learn With Us

Upcoming Webinars

Come learn with us and jump-start your success with interactive webinars featuring cutting-edge information from experienced facilitators that help you understand not only product details but how to achieve financial success, reduce your risks, and better serve your members.

To register for any of these webinars, please go to https://www.cunamutual.com/resource-library/webinars.  

Recognizing Performance

9/11/2018 12:00 PM (CT)
When employees know and use their strengths, they're more engaged and have higher performance. Increase employee performance through the use of targeted recognition strategies.
Lending Resource Center/Live Events

Performance Coaching

9/13/2018 12:00 PM (CT)
Ever wonder why your employees are performing below expectations? Analyze the situation to close the performance gap and identify solutions to positively impact behavior.
Lending Resource Center/Live Events

Member Focused Conversations: Guide with Confidence, Part 1

9/18/2018 10:00 AM & 2:00 PM (CT)
Members are looking for someone to provide them financial guidance. Even if your members are doing well right now, the unexpected can have an immediate impact on their financial well-being. Part 1 focuses on helping your member feel the impact through a Money Game as they make difficult decisions during an already tough time.
Lending Resource Center/Live Events

Risk & Compliance Office Hours – Lending Risks

9/19/2018 10:00 AM (CT)
This is your opportunity to ASK anything…well, within reason! We'll briefly cover some latest trends and we’ll devote 60-90 minutes for your questions - live! Join us and ask our experienced consultants your most burning risk & compliance questions related to the office hours topics. We’ll do our best to ensure you’re ready by addressing those lingering questions keeping you awake at night!
Protection Resource Center Webinars & Education

Member Focused Conversations: Guide with Confidence, Part 2

9/19/2018 10:00 AM & 2:00 PM (CT)
Go the extra mile. Part 2 focuses on using consultative questions and a consistent process to provide your members with personalized solutions. Be committed to being your members' trusted financial consultant. If you don't take the opportunity to guide your members, they will look elsewhere for the guidance they need.*
Lending Resource Center/Live Events

Member Focused Conversations: Guide with Confidence, Part 3

9/20/2018 10:00 AM & 2:00 PM (CT)
Part 3 builds on what you learned about a member focused conversation and takes it to a new level. You won't simply present benefits, you'll personalize them, helping your members to see the value and why payment protection is so important. . .to them!. Go the extra mile.*
Lending Resource Center/Live Events

Loyal Lending, Part 1

9/25/2018 12:00 PM (CT)
Part 1 of Loyal Lending - Dig deeper. Learn more. Don't be an order-taker. Use the credit report and consultative questions to go beyond the initial loan request and find additional opportunities to help members reach their financial goals and improve their financial well-being. Be sure to register for Part 2.*
Lending Resource Center/Live Events

Loyal Lending, Part 2

9/26/2018 12:00 PM (CT)
Part 2 of Loyal Lending - Dig deeper. Learn more. Don't be an order-taker. User the credit report and consultative questions to go beyond the initial loan request and find additional opportunities to help members reach their financial goals and improve their financial well-being. Be sure to register for Part 1 also if you haven't already.*
Lending Resource Center/Live Events

Addressing Concerns: Close the Case

9/27/2018 10:00 AM (CT)
What if the member asks a question or raises a concern? Don't let this question stop you any longer from educating your members on payment protection. Confidently address four common member questions and concerns related to payment protection.*
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Kentucky Credit Union League
5111 Commerce Crossings Drive
Suite 210
Louisville, KY 40229

Call: 502-459-8023 or 800-333-5285
Fax: 502-459-0189
Email: kycul@kycul.org