In this issue…
- In Case You Missed It… 2020
- Insight 2020 – VolCorp’s First Educational Summit a Success
- V-Portfolio – A Look Back
Insight 2020 – VolCorp’s First Educational Summit a Success
If COVID-19 has taught us anything, it’s that adaptability is essential. Canceling Forum20 was a difficult decision. Spending time with our members, especially in a group setting, is one of our favorite things. So we did the next best thing – we got together online.
According to feedback our members have shared with us, Insight 2020, our first ever Educational Summit, was a huge success. Our members had the opportunity to see four VolCorp subject matter experts deliver timely, insightful presentations. Here’s a recap of those presentations:
Karen Clabough – Are Credit Unions Ready for Instant Payments?
Karen Clabough is passionate about payments and it shows. She spoke about payment displacement and how companies like Venmo and Zelle were now being used more and more by consumers. Karen explained the Fed’s new service, FedNow, scheduled to launch in 2023 or 2024, and its necessity in the payments business. She urged credit unions to prepare for faster payments, and closed by sharing VolCorp’s commitment to its members in the faster payments arena.
Tyler McNair – Common Misconceptions of Information Security
Tyler McNair, VolCorp’s Information Security Officer, began by sharing global breach statistics and how far-reaching a breach can be. The average cost of a data breach is now between $150 and $242 per record, and detection time now stands at 279 days. He mentioned that simply taking measures such as hiring a security expert and buying a comprehensive security solution are not simple fixes to complex issues. Tyler encouraged credit unions to do more than just check the box when it comes to information security.
Jeff Dato – Business Continuity: Lessons Learned from COVID-10
Resilience was the word of the day for Dato’s presentation. As Mike Tyson once said, “Everybody has a plan until they get punched in the mouth.” COVID-19 tested all of our business continuity plans. Jeff reviewed all of the common lessons that have been learned, from external forces and human capital, to workforce transition and communications. Looking forward, Dato encouraged members to adjust their strategies and resources as needed to allow for a more pliable, transformative organization.
Phillip Cochran – 2020: Am I Right?
Talk about excitement! Phillip Cochran brings it every time he speaks, even if the topic isn’t all that appealing. While everyone seems to talk about how bad the economy is (and we do not disagree), Phillip took a deeper dive and went into the “whys” and “hows” instead of just regurgitating the normal statistics. He also talked about the good news from the economy. Phillip mentioned that the average American who is working from home now because of COVID-19 has recovered over 4 ½ hours a week by not commuting to and from work. He went on to list all of the things that could be done with that time, like spending more quality time with family and learning how to do something you have always wanted to do.
Because Insight 2020 was such a success, we will be doing events like this more often. While we look forward to seeing everyone back in Nashville at Forum’21 next year, we want to provide you with more online informational sessions throughout the year. We will provide more information on this within the next few months, so keep watch for future event dates.