Top Six (Free) Webcasts in the NAFCU Services Library

Our partners are on the front lines with credit unions every day, and while you may only have experience with your credit union, the odds are that our Preferred Partners have worked with hundreds or even thousands. They can bring perspective and common problem-solving to bear on practically any topic.

At NAFCU Services, we try to help the knowledge transfer process by capturing the expertise of our Preferred Partners in digital format—in webcasts, webinars, podcasts and white papers that are archived in our NAFCU Services Partner Library. We are up to 180 and counting, and best of all they are free to ALL credit unions!

Check out our top six most popular webcasts over the last couple of years:

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Nurture Members with Nurture Marketing

There is a concept called ‘nurture marketing,’ which emphasizes the benefit of communicating the value of your solutions to your target audience through education, even when you know they’re not ready to make a purchase. What’s key to an effective nurture marketing campaign is that focus on education or helping your audience understand how they can solve their problems (without a lot of the salesy mumbo jumbo).

Nurture marketing helps build a relationship with your audience and also helps establish credibility at the same time. Your members appreciate the education you can provide to help them make successful decisions (especially about something that is as important to them as their finances!) As a result, your positive brand image becomes top-of-mind, which means that when a purchase is ready to be made, you’ll be the first phone call.

Unfortunately some organizations are better able to communicate their expertise and knowledge than others in order to build a positive brand. Your credit union is no different. How does nurture marketing fit into your marketing plan or do you even have a marketing plan? (You should!!!)

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Do Your Members Still Trust You Today Like They Did Yesterday?

At the core of the loyalty that members have displayed over the years is an unabiding trust placed in their credit unions, to the point that it has become a brand attribute for credit unions.  But there have been significant changes in the way members view financial institutions in general, and these new perspectives affect how they view credit unions and their loyalty toward them. Have you done everything you can to adapt to the challenges and opportunities offered by this shift? I attended a packed breakout session at the NAFCU Annual Conference today called “Standing in Your Member’s Shoes,“ from Martie Woods, VP and Chief Experience Officer (I love that title!) for Deluxe Corporation.

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The Best of the Best – 2011 NAFCU Services Innovation Awards

Innovation can be hard to define, but you can think of it as “the successful application of new ideas.”  ‘Application’ is the key word there – new ideas are the easy part – figuring out which are the good ones, and then applying them successfully, is more difficult.

So innovation is more than just an academic exercise or a tally of patents. The application of a new idea in the real world leads to new products, services, processes, systems, or attitudes that improve something or add value. With all of the changes that are occurring in financial services generally, and in the credit union business model specifically, being (and staying) innovative is more important than ever.

Every year at the NAFCU Annual Conference we recognize the very best innovations among our Preferred Partners that help credit unions thrive in an increasingly crowded financial services marketplace with the 2011 NAFCU Services Preferred Partner Innovation Awards.  No surprise this year, two of the three winners focus on opportunities for credit unions to generate revenue, while the third represents a quantum leap in productivity, leading to significantly lower costs.

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Minimizing Retirement Plan Liability for Credit Union CEOs

Guest post by Tom McLaughlin, Regional Director, Pentegra Retirement Services

As the CEO of a credit union, you engage in many different activities that raise the potential for legal liability. In most cases, these are risks borne by the credit union, i.e., any legal issues will be addressed by your legal counsel and/or covered by any one of several insurance policies.

But there is one area that is different, and may pose personal liability for you – your role as the fiduciary for your credit union’s retirement plan. If something goes wrong, you are personally responsible – that means all of your assets (savings, retirement, children’s college fund, vacation home, etc) are at risk. But it doesn’t have to be that way.

The essence of your credit union’s retirement plan, whether it is a 401(k) plan, profit sharing plan or defined benefit pension plan, is the plan trust—designed to ensure future benefits for employees participating in the plan and their beneficiaries. The Employee Retirement Income and Security Act (“ERISA”), established 1n 1974, created a standard of conduct that includes loyalty, due care and prudence.

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