Tag Archive for Burns-Fazzi Brock

Congratulations to our 2014 Innovation Award Winners!

We all feel the strain of keeping up with the changing times.  Many credit union CEOs agree that attracting and retaining members is one of the top three challenges that credit unions face. In order to meet the ever-evolving needs of members, credit unions should rely on innovative solutions to add to their product portfolio. Innovation plays a crucial role in the credit union industry, which is why we recognize ingenuity and inventiveness  through the NAFCU Services  Innovation Awards. This year’s winners have created  outstanding innovations that help credit unions thrive in an increasingly saturated financial services market. They are:

Insuritas. The InsureNOW™ product was designed for credit unions with large member bases, big data CIF/CRM capabilities, and high member affinity levels. InsureNOW™ allows credit unions to provide highly customized, concierge-level insurance offers to their indirect borrowers at the very moment when the member intends to shop for insurance. The most innovative part of InsureNOW™ identifies insurance policy renewal dates for each member and generates targeted, automated pre-populated e-engagement communication to these indirect borrowers 30 days before their insurance policy renews.

DDJ Myers. The Board Performance Assessment was developed to meet the need to support credit union boards. The assessment is designed to guide boards in reaching their highest level of performance, and create a high standard of excellence between board and CEO, one of the most critical interactions within the credit union. The innovation lies in the assessment’s ability to make boards more cohesive and pinpoint critical areas where improvements could be made.

Burns-Fazzi, Brock. Their Executive Benefits Learning Series helps credit unions understand effective methods for executive compensation and benefits to help recruit, retain, and reward their executive team. Complex topics in executive benefits and compensation are broken down into tax, accounting, legal, regulatory compliance, funding, and administrative concepts allowing credit unions to increase their knowledge and gain free practical advice. The innovative series consists of monthly, free live webinars which are recorded and archived for future reference.

For a recap the of 2014 NAFCU-BFB Executive Compensation & Benefits Survey, register for this webinar on August 20.

Allied Solutions. UniTrac is a proprietary insurance tracking system that benefits credit unions by reducing the risk associated with collateralized loan portfolios. The tracking solution is completely workable online for credit unions through their client portal: CenterPoint. CenterPoint offers clients full access to insurance history and document images, letter notifications, customer service call notes, and claims. Lenders are able to view, work, print and download reports, submit claims, update required data fields and chat online with Allied representatives.

Join Sundeep Kapur as he discusses the future of credit unions in this week’s webinar.

A big thank you goes out to these companies and all of the other entries who continue to provide credit unions with innovative solutions that drive success.

Preferred Partners to Shine at the 47th Annual Conference in Las Vegas

Join the more than 1,200 credit union leaders, experts, and solution providers gathering next week at NAFCU’s 47th Annual Conference and Solutions Expo to discuss the most pressing issues impacting the industry. A wealth of education, innovation, and networking opportunities will energize you and your team and positively impact your operations and bottom line.

Be sure to schedule an hour on Wednesday afternoon to hear John Ulzheimer’s thoughts on Credit Scoring: Separating Myth from Reality. John, a nationally recognized credit expert, always gives fascinating insights on the credit union universe. This session, presented by VantageScore Solutions, is scheduled at 1:00 pm and repeats at 2:15 pm.

Many of our Preferred Partners will also be in Las Vegas to meet you and to share their innovations and solutions at 16 educational sessions outlined below. Note that many sessions will be repeated this year so you don’t have to choose. Download a schedule at a glance with times and room locations.

It’s not too late to join your colleagues in Vegas. Register for the convention here.

National Financial Literacy Month is an Opportunity for Credit Unions

Originally posted on CUInsight.

By Randy Salser, President, NAFCU Services

With the financial pitfalls of the Great Recession behind us, and security breaches becoming a common threat, members are more mindful of their personal finances than ever before.  Because credit unions are a reliable and trusted source, they have the unique opportunity to educate their members about financial literacy. For expertise on where credit unions should focus this National Financial Literacy Month, we turn to our Preferred Partners: Read more

Extraordinary Growth Doesn’t Just Happen: A Giant Pumpkin Farmer’s Perspective on Executive Benefits

Guest post written by Tyler Quigley, National Director of Marketing, Burns-Fazzi, Brock (BFB). Tyler and his family tend their field of dreams in Mountain Green, Utah.

 

BFB is the NAFCU Services Preferred Partner for Executive Compensation and Benefit Consulting.

My name is Tyler, and I grow giant pumpkins. Not just big pumpkins. Giant pumpkins. The kind of pumpkins that could someday rise out of the murky depths of the Pacific Ocean and terrorize Tokyo. My personal best came from one of the pumpkins I grew last season. It weighed in at 1,454.5 pounds and was the second largest ever recorded in Utah.

Growing a pumpkin that large is an enormous (pardon the obligatory pun) undertaking, and as I’ve learned more about the planning, hard work, and dedication necessary to cultivating these behemoths, I’ve realized there are a lot of parallels to be drawn between cultivating pumpkins and the principles of my day job.

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Do you know where your credit union stands on executive compensation and benefits?

Every credit union is unique, and every CEO places a different emphasis on how they want their executive compensation and benefits package tailored, which makes an assessment of ‘market rates’ for executive benefits and compensation challenging. If you’re a board member you want to be both fair to your executives, provide a combination of compensation and benefits with the right mix of incentives to ensure alignment with your strategic goals, and also fulfill your fiduciary obligation to fellow credit union members.

As an executive, you want to make sure that your compensation and benefits are competitive and fit your personal needs, and are also flexible enough to adapt as those needs change throughout your career.

One great way to find out where your credit union stands relative to the market is with the NAFCU-Burns-Fazzi, Brock (BFB) Executive Compensation and Benefits Survey (free to survey participants).

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