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Nashville, Tennessee - Photo Courtesy of Barry Shulam
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January/February 2018 Issue: Front Page
VolVoice



Feature
Forum'18 Keynote Announced!
Jim Marous We are excited to announce our keynote speaker for Forum'18 will be Jim Marous, co-publisher of The Financial Brand and owner/publisher of the Digital Banking Report. Jim Marous is one of the most influential people in banking and a recognized authority on fintech and innovation in the financial industry. Marous has been featured by CNBC, CNN, The Wall Street Journal, New York Times, The Financial Times, The Economist, and Forbes. He has delivered keynote presentations to audiences around the globe, and was an advisor to the White House on banking policy.

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Member Education
Business Lending Bootcamp
Business Lending Bootcamp - Mar 21-22 at VolCorp Join CU Business Group (CUBG) Wednesday & Thursday, March 21-22, 2018 at VolCorp for this fast paced, two-day course which delivers a comprehensive overview of credit union business lending.

Using in-depth case studies and hands-on learning, you'll gain skills and knowledge that can quickly and easily be applied at your credit union. CUBG will cover topics to help you succeed in today's dynamic and competitive business lending marketplace.

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Service Spotlight
Financing an Education? Why Not Ask Sallie Mae?
Sallie Mae Are your members working to send their kids to college? Are they finding fewer and fewer options available to pay for that education? Today many families are facing the challenge of how to pay for educational expenses and have limited knowledge of what financing options are available to them. Responsible borrowing typically includes researching grants and scholarships as well as considering personal savings and any income possibilities. However, once these options are exhausted, you may want to consider a private education loan from Sallie Mae.

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Corporate Update
VolCorp Welcomes Wade Stapleton
Wade Stapleton
We are pleased to announce the addition of Mr. Wade Stapleton as Vice President Marketing/Innovation to VolCorp’s staff. With his credit union background, Wade will be instrumental in creating new products and services to meet the ever changing needs of our member credit unions.

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Operations
The Top 10 Mile Markers on the Road to CECL Implementation
road with mile markers 1. Assemble a CECL Implementation Committee
If you haven't already taken this first step, the time is NOW! This cross-functional group of professionals should include representatives from all the specialized areas that constitute your credit union, namely accounting, lending, investments, internal audit and IT. You'll want to make sure the loan underwriting function is well represented given that's where the credit risk management function usually resides. You should consider engaging external experts with whom you may be doing business already, such as your external auditors. Seek out specialist consultants who can help put you on the right track and keep you out of the ditches.

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Industry Info
Never Mind Your Wallet. What's in Your Savings?
Man looking through wallet The Federal Reserve Bank of New York released a report earlier this year with some astonishing news. Consumer debt has risen to all-time highs in nearly every category: Credit card debt, mortgage loans, student loan debt and even auto loan debt were all climbing to new heights. We shouldn't be surprised. For years we have been telling our members that loan rates are at an all-time low, so there is no better time to buy and finance. Sure, it's good advice to get while the getting is good. But, we should hit the pause button for a moment to reflect.

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