Cues Podcast

Informações:

Synopsis

Welcome to the CUES Podcast! Here well talk to industry and cross-industry experts to gain perspective on trends and topics relevant to you and your role at your credit union. Not a CUES member? Learn more and sign up at cues.org/membership.

Episodes

  • CUES 113: Lay the Runway in 2021 for Economic Takeoff in 2022—an Interview With Dan Berger

    CUES 113: Lay the Runway in 2021 for Economic Takeoff in 2022—an Interview With Dan Berger

    18/03/2021 Duration: 19min

    The economy may soon be poised for takeoff, according to Dan Berger, our guest on episode 113 of the CUES Podcast.The efforts of credit unions to serve members at a time of need will continue to be a key factor, says Berger, president/CEO of the National Association of Federally-Insured Credit Unions, Washington, D.C.“I think that we got some more stuff to get through in 2021 in regards to COVID and cranking up the economy and getting more people and to be financially inclusive with the economy,” he explains. “I equate it to laying the runway in 2021 so you can really take off in 2022. But I'm so pleased with this industry, in the CEOs I speak to across the country, in the jobs that they're doing. I mean, it's really been an incredible effort across the board, and I don't see it stopping.“The stories I hear from across the country with, you know, skip-a-pay programs and workout loans and things along those lines,” he continues, “ … that’s the difference between us and the big banks. When p

  • CUES 112: Government Pandemic Measures and Vaccine Rollout Key Factors in Canadian Economy 2021—an Interview With Bryan Yu

    CUES 112: Government Pandemic Measures and Vaccine Rollout Key Factors in Canadian Economy 2021—an Interview With Bryan Yu

    11/03/2021 Duration: 14min

    Governments around the world have spent more than $14 trillion to try to offset the economic damage of the pandemic, says Bryan Yu, in the latest episode of the CUES Podcast.“In Canada, I think we moved pretty quick,” says Yu, director and chief economist with Central 1 in Vancouver, British Columbia, which leverages its scale, strength and expertise to power progress for more than 250 credit unions and other financial institutions. “We had seen the implementation of the Canadian Emergency Response Benefit, which was largely providing funds for households who were negatively impacted by the pandemic and lost jobs, about $500 per week. So, a significant amount.“We also, of course, see the wage subsidy programs in Canada as well,” he adds in the show.  “So employers who lost substantial amounts of business were able to tap the subsidy in order to keep individuals employed.”He estimates that the Canadian government will now have to deal with a $380 billion deficit after the outlay. “But we're also, of cours

  • CUES 111: A ‘Nice Recovery’ Forecasted in 2021 Despite ‘Retail Apocalypse’—an Interview with Steve Rick

    CUES 111: A ‘Nice Recovery’ Forecasted in 2021 Despite ‘Retail Apocalypse’—an Interview with Steve Rick

    03/03/2021 Duration: 27min

    As is always true with the economy, there is both good and bad news at once.On episode 111 of the CUES Podcast, Steve Rick says some of the good news is that the jobless rate has dropped back to a rate of 6.3%, after spiking to 14.7% at the height of the pandemic shutdown last year.Director and chief economist at CUESolutions Platinum provider for executive benefits CUNA Mutual Group, Madison, Wisconsin, Rick says economists believe that 4.5% is the “long-run natural employment rate” in the U.S. He is forecasting reaching that rate again by the end of 2022.“We do believe we will reach herd immunity, probably by the fourth quarter of this year … where … 75 to 80% of our population has been vaccinated and is … immune,” he says. “So, we're hoping by the end of this year to have the unemployment rate down to 5.5%.”Some of the bad news Rick cites includes the hard hit taken by retail businesses during the government-mandated shutdowns early in 2020. Many stores, restaurants and movie theaters have been severely di

  • CUES 110: Personal Finance App’s ‘Pineapple Points’ Connect Credit Unions to Gen Z—an Interview With Bolun Li

    CUES 110: Personal Finance App’s ‘Pineapple Points’ Connect Credit Unions to Gen Z—an Interview With Bolun Li

    22/02/2021 Duration: 29min

    “For some reason, people just love pineapples,” says Bolun Li in this episode of the CUES Podcast. As a result, pineapple emojis are the points in Zogo, the gamified smartphone app that Li co-launched in 2019 to better teach personal finance to members of Gen Z.CEO of CUES Supplier member Zogo Finance, the sponsor of this show, Li says that pineapples tested extremely well during the app’s development.“We tested so many different emojis for the points,” he explains. “We have no idea why people love pineapples, but they love pineapples. So, we’re like, we’re going to use pineapples” for the point system.A 2019 graduate of Duke University, Li first learned about personal finance through a high school program that was delivered by a bank. He describes that offering as “boring” and “inadequate.” In contrast, the app he and his co-founders (all members of Gen Z themselves) have launched aims to teach members of Gen Z about personal finance in a way they find fun. Zogo offers more than 300 bite-sized learning

  • CUES Podcast 109: When Hiring a Chief Diversity Officer, Look for Grit, Experience, Certification and the Right Spirit—an Interview With Renée Sattiewhite, CUDE, CDP

    CUES Podcast 109: When Hiring a Chief Diversity Officer, Look for Grit, Experience, Certification and the Right Spirit—an Interview With Renée Sattiewhite, CUDE, CDP

    08/02/2021 Duration: 15min

    There’s a growing trend of credit unions hiring chief diversity officers, says Renee Sattiewhite, CUDE, CDP, president/CEO of the African American Credit Union Coalition.“It is amazing that so many credit unions are calling or asking about what should they do, what should they be looking for,” Sattiewhite says in this episode. “I’m happy to report that the credit unions that are larger are doing that. And then some of the credit unions are calling us because they don’t have a chief diversity officer (wondering), ‘What can they do in lieu of that?’”Why is this trend good news? “I think that it’s a good sign with the industry that they’re looking at having someone who is certified, who’s got the information, who’s got the intellect and the skill to help lead the organization in their DEI (diversity, equity and inclusion) journey,” Sattiewhite explained.Hiring a chief diversity officer that isn’t certified is troubling, she explained. “It’s quite important to have the knowledge behind you so that you can talk ab

  • CUES 108: A New Universe of Tools, Insights and Opportunities for Board Governance—an Interview With Matt Fullbrook

    CUES 108: A New Universe of Tools, Insights and Opportunities for Board Governance—an Interview With Matt Fullbrook

    14/01/2021 Duration: 26min

    When people join a board, they don't always get opportunity to understand what exactly the job entails—and what a board is really for, says Matt Fullbrook in this show.Manager of the David and Sharon Johnston Centre for Corporate Governance Innovation at the University of Toronto and a board effectiveness researcher and consultant for Fullbrook Board Effectiveness, Fullbrook says providing an opportunity for better understanding of those two things is at the root of board education.Fullbook explains that board education also goes a step further to answer the question, “How do we take that role as a director and turn it into something that has the potential to create something of tremendous value for the organization?”It’s very difficult for anyone to create good answers to these key questions themselves, says Fullbrook, who will serve as academic director for the new High Performing Board Digital Series from CUES that starts April 13. “The reality” of director education, he explains, “is it gives directo

  • CUES 107: NCUA’s Pandemic Support and ACCESS Program for Diversity, Equity and Inclusion—an Interview With Rodney E. Hood

    CUES 107: NCUA’s Pandemic Support and ACCESS Program for Diversity, Equity and Inclusion—an Interview With Rodney E. Hood

    22/12/2020 Duration: 53min

    It’s interesting that as the unpredicted, unprecedented year of 2020 was closing, Rodney E. Hood identifies this quote as a professional mantra he lives by: “Proper preparation and planning can prevent poor performance.”Chairman of the National Credit Union Administration Board, Hood says in this show, taped Dec. 8, that this quote he learned in high school helps him remember to always put his best foot forward and get “things done with professionalism, duty and integrity.”“As long as I stay focused on those Ps … it gets me through,” he says.For 2020, putting the best foot forward meant helping the federal agency he leads support credit unions on two important fronts: the COVID-19 pandemic and efforts to boost diversity, equity and inclusion in the credit union industry after the killing of George Floyd in May.Hood talks in the show about key things the National Credit Union Administration did in response to the COVID-19 pandemic, including:Staying open, even though the staff is working from home for safetyAl

  • CUES 106: If You’re Ready to Be CEO, It Will Show, Plus A Lot More on CEO Succession for Both Boards and Candidates—an Interview with Deedee Myers, Ph.D., and Peter Myers

    CUES 106: If You’re Ready to Be CEO, It Will Show, Plus A Lot More on CEO Succession for Both Boards and Candidates—an Interview with Deedee Myers, Ph.D., and Peter Myers

    03/12/2020 Duration: 57min

    What does it mean to be CEO-ready? How can candidates know when they’re ready? How can boards know a candidate is ready for the top slot?Some key things candidates should have if they’re really ready to lead an organization include a deep understanding of cross-functional leadership, solid knowledge of the business and how to work with people; and experience with effective board governance, explains Deedee Myers, Ph.D., MSC, PCC, president/CEO of DDJ Myers Inc., a CUESolutions provider based in Phoenix. “Cultivation (of a CEO) … is not an overnight phenomenon,” she explains in the show. “So we want to set it up and have these different milestones and testing places along the way to test our internal candidates and to test ourselves. Are we ready?”DDJ Myers SVP Peter Myers adds that he wants to distinguish between being ready to get the CEO job and being ready to do the job exceptionally well. “Make sure you self-assess,” he advises, “why you want to get this job…. Find someone you trust to give you unvar

  • CUES 105: CUES Compensation and Salary Data Facilitates Good Decision-Making—an Interview with Michael Becher and Laura Lynch

    CUES 105: CUES Compensation and Salary Data Facilitates Good Decision-Making—an Interview with Michael Becher and Laura Lynch

    12/11/2020 Duration: 22min

    The pandemic came to the fore while CUES and Industry Insights were fielding this year’s compensation and salary surveys. But fortunately, great data was still collected that can form an excellent foundation for credit unions making decisions about executive compensation and staff salaries.“It provides us a great base for moving forward, for understanding the true impact of COVID, says Michael Becher, vice president of Industry Insights, CUES' partner in producing CUES Executive Compensation Survey and the CUES Employee Salary Survey. “This data is very, very relevant” and can support decision-making about pay levels now and after the COVID-19 pandemic.Becher says the increases in pay for staff and executives highlighted by the CUES surveys are bigger than those reported across all industries in the U.S. WorldatWork has reported increases for staff and executives of 3% to 3.3% for the last few years. “CU increases have been more in the 5% to 8% range,” he adds. CUES Executive Compensation Survey reports incre

  • CUES 104: How Credit Unions Can Be Even More Empathetic and Effective in Their Collections—an Interview with Jeff Mortensen

    CUES 104: How Credit Unions Can Be Even More Empathetic and Effective in Their Collections—an Interview with Jeff Mortensen

    05/11/2020 Duration: 16min

    Even before the pandemic, credit unions were the most empathetic collectors around. While credit unions clearly need members to pay their loans and credit cards, they have always approached collections with an eye for helping the member through financial difficulty and educating them about personal finance.Enter the pandemic and many members were suddenly unemployed. Credit unions were on the financial front lines, working on ways to help, says Jeff Mortensen, VP/client services for the Financial Institution Group at CUES Supplier member SWBC, San Antonio, Texas. SWBC is the sponsor of this show.“They clearly understood up front that they need to figure out how to help their members,” Jeff Mortensen says in the show. But they quickly discovered that calling their members every couple of days wasn’t helping them. “So they took a step backwards … and said, “Wait a minute. What’s best for our memberships and how can we help them?’ …“They were proactive with it,” he adds. “Being proactive with it has been very su

  • CUES 103: Both New and Experienced Leaders Must Be Facilitators, Not Fixers—An Interview With Laurie Maddalena

    CUES 103: Both New and Experienced Leaders Must Be Facilitators, Not Fixers—An Interview With Laurie Maddalena

    22/10/2020 Duration: 31min

    Laurie Maddalena’s vision is to create a place where people love to come to work. Gallup has found in its most recent workforce study, she says, that only about 34% of American employees feel engaged at work.“Most people don’t enjoy their work and I think a lot of that has to do with leadership, the quality of leadership we have in our organizations,” says Maddalena, CEO of Envision Excellence, a leadership consulting firm that provides leadership development programs for managers and executives, keynote speeches, team building and leadership assessments.As antidote, Maddalena recommends leaders look to be “modern” leaders, focused on facilitating people doing the work, not fixing problems themselves. Modern leaders get to know their employees and place high value on the people side of the business, she says. New leaders sometimes struggle with taking a modern leadership approach because they have been promoted because they are technically adept—not because they have leadership skills. So instead of lead

  • CUES 102: First-Ever CUES Emerging Leader Helps Reduce Linguistic Barriers to Support Hispanic Members—An Interview With Lindsey Walker

    CUES 102: First-Ever CUES Emerging Leader Helps Reduce Linguistic Barriers to Support Hispanic Members—An Interview With Lindsey Walker

    08/10/2020 Duration: 22min

    In the Tampa Bay, Florida, region, migration from Spanish-speaking countries has increased more than 200% in the last two decades and that number continues to rise, creating social and economic change in the area, according to Lindsey Walker, executive assistant with $259 million/32,000-member Tampa Bay Federal Credit Union, Tampa Bay, Florida, and the 2020 CUES Emerging Leader, the first-ever winner.That growth was driven by part by Tampa being a top destination for people from Puerto Rico escaping Hurricanes Irma and Maria. Other Spanish speakers have come to the Tampa area from Columbia, Venezuela, Cuba and Nicaragua.According to Walker, a national survey found these individuals prefer having documents available in their native language. “There’s always room for misinterpretation when you speak dual languages,” Walker explains in the show. “This is especially true for older Spanish speakers. They often bring a grandchild or friend with strong English skills to help them.” If they don’t, they sometimes sign

  • CUES 101: How Can You Meet Members’ Needs With Your Data ‘Power Drill’?—An Interview With Patrick Donohue

    CUES 101: How Can You Meet Members’ Needs With Your Data ‘Power Drill’?—An Interview With Patrick Donohue

    24/09/2020 Duration: 31min

    In this show, Patrick Donohue tells the story about going to Home Depot to buy a power drill. He emphasizes that he didn’t really want a power drill. But rather he wanted to make a hole in his wall. And actually, his purpose wasn’t truly the hole. Instead it was to install his family’s new Ring doorbell. At bottom, it wasn’t that Donohue wanted to buy a power drill. It was his wife who wanted a better system for making sure delivered groceries got brought inside in a timely manner.Product manager, Data Solutions Group at CUES Supplier member FIS, headquartered in Jacksonville, Florida, and the sponsor of this show, Donohue tells this story to underscore the idea that behind every data point is an intention, an intrinsic desire of an individual member.  “The more we can use data to understand our customers’ stories—what’s going on in their life and what’s likely to happen next for them—the greater the chance we have to delight them and retain our members,” he explains.During the show, Donohue also ta

  • CUES 100: Can Credit Unions Reopen 100% by Thanksgiving? How Can CUs Reach Young Consumers? What Is the Future of CUs 25 Years Out? —Listeners’ Questions Answered on This Milestone Show

    CUES 100: Can Credit Unions Reopen 100% by Thanksgiving? How Can CUs Reach Young Consumers? What Is the Future of CUs 25 Years Out? —Listeners’ Questions Answered on This Milestone Show

    10/09/2020 Duration: 39min

    For this milestone episode, CUES Podcast listeners submitted their questions for experts to answer. So instead of featuring one or two experts, this show features seven! Instead of being centered on just one idea, this show covers three areas of major interest to credit unions and their leaders: reopening physical branches in light of the pandemic, reaching and engaging young members, and the future of credit unions 25 years out.Our first question about when credit unions might reopen fully comes at the 5:12 mark from CUES member Ron Kraus, chair of the board of $2 billion Together Credit Union in the St. Louis area. Kraus’s question is first answered by Mike Carter, EVP of CUESolutions Bronze provider Strategic Resources Management, Memphis, Tennessee. A second response is given by Steve Reider, president of CUES Supplier member Bancography, Birmingham, Alabama. Neither expert expects 100% reopening across the country by Thanksgiving and each has ideas about the larger implications of the pandemic on the fin

  • CUES 99: Critical Leadership Skills Like Trust  Empathy Are More Difficult to Realize Because of COVID-19, An Interview With Sean Martin

    CUES 99: Critical Leadership Skills Like Trust & Empathy Are More Difficult to Realize Because of COVID-19, An Interview With Sean Martin

    31/08/2020 Duration: 32min

    In the best of times, it’s a big job for leaders to demonstrate the kind of empathy that builds trust with their followers. Showing the kind of empathy that builds trust is even harder in this era of remote work and social distancing brought on by the COVID-19 pandemic, says episode 99 guest Sean Martin, Ph.D., associate professor of business administration at the Darden School of Business at the  University of Virginia, Charlottesville, which hosts CUES’ CEO Institute III: Strategic Leadership Development. “People will choose to trust you to the extent that they believe that a) you have the skills to do a job (they can trust your abilities you have the technical know-how to do things), b) that you have the integrity that they can trust that you’re not going to tell them a lie; you’re not going to misrepresent things; you’re not going to ignore the truth and then c) trust in your benevolence, really trust that you actually have a sense of caring and concern and empathy for them,” explains Martin, wh

  • CUES 98: How to Rebalance Branches Now That the Pandemic Has Accelerated Digital Use—an Interview with Kevin Blair

    CUES 98: How to Rebalance Branches Now That the Pandemic Has Accelerated Digital Use—an Interview with Kevin Blair

    25/08/2020 Duration: 32min

    The pandemic has accelerated trends that have long been underway, including consumer adoption of mobile services. That means that credit union leaders need to shift their thinking, possibly shifting their strategy for meeting and supporting digital demand.“In order for them to manage and go forward with their physical and digital relationships, they’re going to need to change,” Kevin Blair says in this episode of the CUES Podcast. “Nothing will be quite the same as it was before the pandemic.”In this show, Blair, president/CEO of CUES Supplier member NewGround, says that before the pandemic, surveys showed that 60% to 70% of consumers preferred coming to the branch to do their financial business. Now, a similar proportion says they prefer to interact with their financial services provider digitally. “What the pandemic did was accelerated it—it pushed the industry to the tipping point,” Blair emphasizes. (Learn more in the company's new whitepaper.Interestingly though, this doesn’t mean credit union membe

  • CUES Podcast Episode 97:  The Value of the Cloud From COVID-19 to Information Capture—An Interview With Steve Comer

    CUES Podcast Episode 97:  The Value of the Cloud From COVID-19 to Information Capture—An Interview With Steve Comer

    20/08/2020 Duration: 28min

    “The cloud brings a lot to the table when it comes to what you can offer your members,” Steve Comer says in this show.That’s a key reason that credit unions are embracing the use of the cloud these days, explains Comer, director of financial services & insurance sales at Hyland Software Inc. Hyland OnBase is a CUESolutions provider for enterprise information systems and the sponsor of episode 97. Another key reason that credit unions are increasingly using the cloud is that the technology has matured and been proven over the years.To clarify what is meant by the buzzword “cloud,” Comer provides a very succinct definition: It’s “somebody else’s computer.”“You’re referring to servers, databases applications that are housed somewhere and accessed over the internet,” he explains, “so it’s just relieving an institution of the burden of carrying all that infrastructure in house.” Credit unions are adopting the cloud in many applications now, he says, because “they are very strategic in their thinking” and

  • CUES Podcast 96: Why You Should Develop Your Board Liaison as a Professional Governance Resource—an Interview With Julia Patrick and Michael Daigneault, CCD

    CUES Podcast 96: Why You Should Develop Your Board Liaison as a Professional Governance Resource—an Interview With Julia Patrick and Michael Daigneault, CCD

    30/07/2020 Duration: 25min

    The job of board liaisons today is multi-faceted and evolving—and it’s a good idea for organizations to foster their development, according to Julia Patrick and Michael G. Daignealt, CCD, in episode 96 of the CUES Podcast.“It really is proving to be a pivotal position, more so than I think a lot of people realize,” says Daigneault, CEO and co-founder of CUES strategic partner for governance, Quantum Governance, Vienna, Virginia. “The primary purpose of it is often thought of to support the board and support the committee. But I think it’s also to guide them … and make governance more effective.”That guidance may be a factor in a credit union board becoming high performing rather than mediocre.“Michael and I share a passion for how internal leadership can really help move an organization forward,” explains Patrick, CEO/co-founder of the American Nonprofit Academy, Phoenix. “That board liaison is oftentimes the centerpiece of an effective board versus maybe a not-so-effective board.”What are some key responsibi

  • CUES Podcast 95: Move Out of the ‘Circle of Chaos’ to Your Next Great Digital-First Marketing Opportunity—an Interview With James Robert Lay

    CUES Podcast 95: Move Out of the ‘Circle of Chaos’ to Your Next Great Digital-First Marketing Opportunity—an Interview With James Robert Lay

    21/07/2020 Duration: 25min

    In this episode, James Robert Lay tells the story of how the CEO of Tower Records once said that kids “would always” want to come into the stores and listen to music.But Tower Records went out of business in 2006.“Music was digitized,” explains Lay, the author of a new book, Banking on Digital Growth and an instructor for CUES School of Strategic Marketing, slated for September. “We went from the record to the eight-track to the cassette, to the CD, to mp3, but we’re not done yet. Because what is music now? Music is now streaming with Spotify and Pandora.”Financial institutions are seeing a parallel shift. “What we’re seeing is the explosion of fintech and what fintech is focused on is—like music—micro niche markets, or micro problems and, for credit unions, it’s like death by a thousand cuts,” Lay explains. In the show, Lay gives a formal definition for digital growth as “a systematic process centered around the modern consumer journey” and notes that digital growth is built on three goals:Increasing tr

  • CUES Podcast 94: Setting Strategy and Planning for Growth Even in Tough Times—An Interview With Sarah Szilagyi

    CUES Podcast 94: Setting Strategy and Planning for Growth Even in Tough Times—An Interview With Sarah Szilagyi

    15/06/2020 Duration: 23min

    It’s OK for credit unions to be strategically planning for growth during these uncertain times, Sarah Szilagyi says during episode 94 of the CUES Podcast.“We as humans as maybe even … as women, we tend to think when we’re in a time of needing to help people, it’s not a time to think about growth or opportunity,” explains Szilagyi, SVP/experience and chief of staff for CUES Supplier member CO-OP Financial Services, Rancho Cucamonga, California. “Actually, that’s one of the beautiful things about credit unions. Credit unions are meant to help people, that’s why we are here. But it is also OK to say, ‘There’s opportunity right now—opportunity to help people, which would lead to growth.’”“It is a time of change, which means a time of opportunity,” she continues. “As consumer behavior shifts and needs change, what credit unions can offer members also shifts and opens up new doors. A lot of shoppers are buying online now. A good portion … are buying online in the last 10 weeks for the very first time. That alone is

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