7:00 – 8:00 a.m. - Breakfast
8:00 – 9:15 a.m. - General Session & Announcements
9:15 – 9:30 a.m. - Pass Time
9:30 – 10:30 a.m. - Taking the Month-End Close to the Next Level (Session Repeats)
Nancy Wu, Head of Product, SkyStem
The session will be focused on our top 8 tips for infusing more efficiency and infrastructure into the month-end close process and taking it to the next level. These top tips include:
- Automating the closing checklist through automation
- Reducing the number of reconciliations through automation
- Standardize reconciliation preparation
- Tracking and resolving open items
- Perform post mortem analysis and process improvement
- Reduce dependencies on spreadsheets
- Establishing stronger audit trails through automation
- Eliminating paper
Where relevant, we will use customer case studies and real examples to illustrate.
9:30 – 10:30 a.m. - Maximizing Portfolio Performance Through the Turn in the Cycle
Steve Twersky, EVP, FHN Financial Memphis TN
The Fed will almost certainly begin to ease rates lower this year given recent successes in reducing inflation. But the impact of their 525 basis points increase in the overnight rate in 2022 and 2023 will be with us for some time. Unrealized losses, while abating to some degree, remain at their highest level in years and many credit unions have not had the liquidity to add a meaningful degree of higher yielding bonds to the investment portfolio. This session will focus on maximizing yield within the confines of proper IRR and NEV management.
Topics include:
- When does it make sense to book a bond loss and how to best evaluate.
- Using prefunding strategies to accelerate reloading higher yields in the portfolio.
- How floating rate securities can be used to shorten portfolio duration.
- What sectors provide the best overall value.CECL and bonds – how are credit unions faring?
9:30 – 10:30 a.m. - Concurrent Breakout
9:30 – 10:30 a.m. - From Overdrafts to Opportunity: Fresh Approaches to Credit Union Revenue
Heather Morris, AVP of Accounting, CapEd Federal Credit Union
Brittni Terry, AVP of Finance and Business Intelligence, OUCU Financial
Jeremy Zager, Chief Financial Officer, Dort Financial Credit Union
Credit Union professionals come together to share their pioneering strategies for diversifying non-interest income sources beyond traditional overdraft fees. Each brings a unique perspective – including aligning new fees with core values and mission, servicing niche markets, third-party insurance products, and ventures into investment services, among others. This panel promises a comprehensive exploration of creative non-interest income avenues, offering actionable insights and best practices tailored for Credit Unions aiming for sustainable financial growth and enhanced member value.
9:30 – 10:30 a.m. - The Rapidly Emerging Market for Credit Union Subordinated Debt
Michael Macchiarola, CEO, Olden Lane
Dan Prezioso, Partner, Olden Lane
Evolving regulation, market factors and industry adoption has spurred exponential growth of Subordinated Debt. What are the critical considerations you should consider as an issuer and as an investor?
From the issuer perspective, we describe the related planning process and preparation of an application for necessary NCUA approval. We discuss common business objectives, related financial analysis and the components of a thorough application. Finally, we explain the issuance process, including options for packaging an offering for maximum investor interest and the sequence of events during an offering.
From the investor perspective, we describe aspects of subordinated notes necessary to evaluate the related credit, interest rate and liquidity risks. We will summarize applicable regulatory requirements related to concentration limits and other related controls and describe steps of thorough investment due diligence.
10:30 – 11:00 a.m. - Networking Break with Sponsors
11:00 – 11:15 a.m. - Pass Time
11:15 a.m. – 12:15 p.m. - Taking the Month-End Close to the Next Level
Nancy Wu, Head of Product, SkyStem
The session will be focused on our top 8 tips for infusing more efficiency and infrastructure into the month-end close process and taking it to the next level. These top tips include:
- Automating the closing checklist through automation
- Reducing the number of reconciliations through automation
- Standardize reconciliation preparation
- Tracking and resolving open items
- Perform post mortem analysis and process improvement
- Reduce dependencies on spreadsheets
- Establishing stronger audit trails through automation
- Eliminating paper
Where relevant, we will use customer case studies and real examples to illustrate.
11:15 a.m. – 12:15 p.m. - Metrics That Matter: Redefining Success in Credit Union Growth
Alix Patterson, Chief Experience Officer, Callahan & Associates, Inc.
Growth has come relatively easily for credit unions over the past few decades. Often, executive goals are tied to membership, loan, or – as over the last 18 months – deposit growth. But growth is an outcome of a successful strategy, not a strategy in and of itself. By focusing on the end (growth), not the inputs, credit unions can get stuck chasing the wrong metrics.
In this presentation Callahan will showcase the Sustainable Growth Framework (SGF) which puts the emphasis on the inputs of a growth strategy including a well-articulated and embedded purpose, empowered employees, and engaged members who fuel stakeholder impact.
Key Takeaways:
How to create engaged employees by connecting your products and services to a greater purpose.
Why engaged employees have the power to create connections with members that lead to more profitable relationships.
What reinvesting a healthy bottom line means for generating stakeholder impact in the community.
11:15 a.m. – 12:15 p.m. - Building Financial Acumen in Non-Financial Leaders
Speakers:
- Rob Johnson, President/Principal, c. myers corporation
- Sean Zimmerman, Senior Vice President, c. myers corporation
Exceptional leadership teams need an ongoing understanding of how all the areas of the credit union work together, yet many strong leaders cite finance as their weakest area. It's often up to the financial team to help these leaders gain a solid command of key financial concepts.
Attendees will walk away from this session with:
- Simple ways to bring the financials to life so non-financial leaders really "get" how their decisions create financial impact.
- The basics to start with, how to reinforce them, and how to overcome resistance ("I don't understand any of that stuff").
- Effective ways to enlist others to help. The finance team doesn't need to do it all, but your valuable guidance increases their chances of success.
- Tools that are easy to use and understand to illustrate key concepts, including the relationships and interconnections of various financial levers.
11:15 a.m. – 12:15 p.m. - Instant Payments & The Changing Member Experience
Shannon Heames, Executive Consultant, Alloya Corporate FCU
Jim Schneck, Chief Strategy & Innovation Officer, Alloya Corporate FCU
Instant payments are poised to drastically change the payments world as consumers and businesses embrace the capability. At what point will members opt to send instant payments in lieu of using cards, wires, ACH or checks?
During this session, we will explore how instant payments are changing the member experience with sending and receiving payments. In addition, other payment-related topics including fraud, peer-to-peer payments (P2P) and payment revenue opportunities will be covered. Don’t miss this opportunity to review current statistics and trends for insight into the world of payments.
11:15 a.m. – 12:15 p.m. - Concurrent Breakout
12:15 – 1:30 p.m. - Networking Luncheon
1:30 – 1:45 p.m. - Pass Time
1:45 – 2:45 p.m. - Concurrent Breakout
1:45 – 2:45 p.m. - Balancing Margin Compression with Strategic Progress
Speakers:
- Rob Johnson, President/Principal, c. myers corporation
- Sean Zimmerman, Senior Vice President, c. myers corporation
For many institutions, the combination of forecasted margin compression, increasing delinquencies, pressure on expenses, and urgency to move forward strategically is creating the need to make hard business decisions. In this session we will address the following questions:
- Should we stay the course and accept lower earnings for a period of time? If so, for how long? If yes, how can we get the Board and Management comfortable defining success at a lower level of ROA?
- What do we need to consider when evaluating realistic funding options and asset mixes and what can we target to help offset the earnings pressure?
- How do we know if we are spending enough organizational energy on exploring ways to increase revenue while continuing to deliver on our value proposition?
- How can we approach tightening expenses without stifling strategic progress?
- How do we continue to remind the Board and Management of CECL's potential impact so that we don't become short-sighted.
1:45 – 2:45 p.m. - Concurrent Breakout
1:45 – 2:45 p.m. - Visual Reporting – Integrating Story Telling at your Credit Union
Heather Hinchley, Senior Solutions Engineer, Syntellis Performance Solutions
Spreadsheet reporting can no longer bear the full weight of your reporting needs. Graphics, charts, and other visual tools get the story across quicker. More and more institutions are incorporating visual, interactive reporting forms and dashboards into their standard report tools. Join us for a presentation on developing content for your internal audience using visual reports.
Learning Objectives:
- Understand the advantages and limitations of visual reporting.
- Gain a starting point for incorporating a visual report portfolio at your company.
- Walk away with several concrete, practical report examples to use.
1:45 – 2:45 p.m. - Concurrent Breakout
2:45 – 3:15 p.m. - Networking Break with Sponsors
3:15 – 4:45 p.m. - Pass Time
3:30 – 4:30 p.m. - Concurrent Breakout
3:30 – 4:30 p.m. - Concurrent Breakout
3:30 – 4:30 p.m. - Concurrent Breakout
3:30 – 4:30 p.m. - Concurrent Breakout
3:30 – 4:30 p.m. - Concurrent Breakout
4:30 – 5:30 p.m. - Networking Receoption