Steve Mitchell

A driving factor in the growth of Same Day ACH payments is the ACH Network’s firm establishment. ACH is ubiquitous, and businesses and consumers are familiar with it. Unlike some of the newer real-time payment rails, virtually all FIs are connected to ACH, facilitating money movement regardless of the customer’s bank. “If you’re a business and you haven’t dipped your toe in the faster payments waters yet, start with what you’re familiar with, which is likely to be ACH,” Michael Herd, Executive Vice President of ACH Network Administration at Nacha said. “Same Day ACH is just a faster form of what you already know. It’s the same system and the same processes. You will have to adapt to the faster settlement of funds, but ultimately there’s a much lower barrier to entry.” Read more: https://lnkd.in/e3hiv_g2

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🌟 Aligning Vendors for Strategic Growth 🌟 Did you know that credit unions manage an average of 182 vendors per week? With so many partners in the mix, ensuring alignment can feel like a monumental task. What would happen if you could get all of your vendors in the same room? Listen to the podcast: https://lnkd.in/gfTrKaqa In the latest episode of Grow Your Credit Union, Joshua Barclay and guest co-host Mike McWethy, EVP of Texans Credit Union, are joined by Tansley Stearns, President and CEO of Community Financial Credit Union, to discuss how bringing all vendors into one room can unlock new opportunities for strategic growth. Here's what else we explore: 💡 Are credit union boards equipped to meet strategic goals, and how can board recruitment evolve? 💡 What are the biggest hurdles credit unions face with member onboarding, and how can they improve? Thanks to our sponsor, InvestiFi, for supporting this episode! 💬 What’s one vendor alignment challenge you've faced? Share your thoughts in the comments!

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For our Credit Union friends... Check out our latest blog post for CU Division's top 5 essential steps to bolster your crisis management strategy. From proactive planning to transparent communication, these tips will help you navigate any storm with confidence. Don't wait until a crisis hits—get prepared now! 💪📈 https://lnkd.in/ekSdTarS

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Credit unions: Your member experience requires constant attention and vigilance. Make sure that you: - Regularly assess your member journey across all channels. - Define your brand thoroughly for a consistent experience. - Create a journey map to identify all touchpoints. - Conduct monthly trainings to keep everyone aligned. As you map out your customer journey, don't forget your member authentication processes. Are outdated methods like one-time passcodes or knowledge-based questions frustrating your members? If so, IDgo offers a seamless, passwordless solution that not only enhances member experience, but also bolsters fraud protection. #CreditUnions #MemberExperience #Authentication

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Transform your banking operations with our help. Whether you're looking to improve efficiency, security, or customer satisfaction, The Bankers Solutions can help your bank stay competitive. Reach out to discover more about how we can help. https://lnkd.in/ghnESw2B #BankingSolutions #ProductInnovation #Efficiency"

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For the first time, RDFIs will have a defined role in monitoring ACH payments they receive. This significant development, approved by Nacha members, aims to combat fraud, including business email compromise (BEC), associated with credit-push payments. As Jane Larimer, Nacha President and CEO, points out, "All participants in the ACH Network have a part to play in reducing the incidence of fraud and recovering when fraud has occurred." Learn more in our April 2024 Innovating Payments Executive Summary— Nacha Rules Take Aim at Credit-Push Fraud: https://lnkd.in/ezsgudgX. Plan to join Sean Carter, AAP, APRP, Mark J. Dixon, CTP, AAP, APRP, NCP, Mary Morrison, AAP, APRP, NCP, CAMS, and Patty Presta for a comprehensive two-part series, "Diving Into the Operation Impact of the New ACH Rules," on May 31 and June 07, 2024, where they will delve into the implications of these new rules, offering insights on implementation, procedures, policy updates, audits, risk assessments, and organizational engagement. 🔍 Curious about engaging with third-party providers? 📝 Wondering about new procedures and policy updates? 🤔 Unsure about ACH audits or risk assessments? Get the answers by registering for Diving Into the Operation Impact of the New ACH Rules: https://lnkd.in/e7y73DN2 #ACH #FinancialServices #FraudPrevention #RegulatoryCompliance #ProfessionalDevelopment

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3 Core Strategies to Enhance Credit Union Asset Growth [+ Case Study] - Optimize your credit union's asset growth with innovative strategies leveraging core processor power for loan processing, member services, and security. https://hubs.ly/Q02Cjqfy0

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Did you know you can boost branch efficiency by upgrading your teller capture equipment? Download this checklist to determine if your #bank or #creditunion needs an upgrade: https://lnkd.in/gPScCaFg. #banks

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💡 Great breakdown from John Meyer for CUES CU Management Magazine on how credit unions can beef up their digital account opening process to better compete with digital banks. "Certainly, a credit union must verify that the person applying is an upstanding human and that the person behind the screen is that same human. The great news? There is technology that can do that task for you. Use technology like Alloy or some other tool to help prove a potential member is who they say they are. In doing so, your CU will avoid asking the many questions that digital-first institutions don’t pose up front to potential customers." https://lnkd.in/eB8Qh4yA

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⛔️ 🤔 Mergers—are they the only growth path left for credit unions? Shawn Premer, SPHR, SHRM-SCP Chief Human Resources Officer at Consumers Credit Union talks about the challenges credit unions face: saturated markets, limited resources, and the struggle to stay afloat. 💬 But is consolidation the only way forward? #creditunions #mergers #leadership

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There are many traditional or general rules for branding, but let's focus on building a strong credit union brand with some broad strokes. https://ow.ly/l7BI50U2LbS #creditunions #creditunion #creditunionlife #fintech #leadership #strategy #growth #community #member #efficiency #solutions #branding #marketing

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"Clients don’t necessarily care how things work behind the scenes." – Daniel Son, U.S. Bank In a recent ABF Journal interview, Dan Son, SVP, Working Capital Finance at U.S. Bank and our Chairman, Mike Humphreys, explore how our partnership is delivering solutions that allow companies to extend payment terms without disrupting supplier relationships — a game-changer for businesses navigating today’s complex supply chain landscape. Curious about how we’re reshaping finance solutions? Read the full article here ➡️ https://lnkd.in/eYkmg627 SIMPLE, SCALABLE WORKING CAPITAL #SupplyChain #WorkingCapital

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Like you, we're setting our own goals for 2025 with our members in mind. So, we'd like to know, what do YOU want to see from your credit union? Let us know! ⬇️ #KEMBA #KEMBAFinancialCreditUnion #CreditUnion #Banking #Saving #NewYears #Resolution #NewYearsResolution #Goals

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Your career is a race, not a sprint. And it is your race. Not anyone else’s. Read on for a retired credit union CEO's best advice for career development. https://hubs.la/Q02xsJDj0 The Leadership Bet #CreditUnions #Leadership #CareerDevelopment #ProfessionalDevelopment

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As ACH transactions become more common and faster, Banks, Credit Unions, and Fintechs need a solution to protect against fraud and unauthorized returns. 🛡️ Join our webinar on August 28th at 10am PT to explore 4 key features of Unit21’s ACH solution, learn how to safeguard your institution, and discover ways to streamline ACH fraud prevention. 🔎 ✅ Register now to secure your spot: https://hubs.li/Q02Md9j60 #ACH #ACHFraud #FraudPrevention

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We're thrilled to announce our acquisition of Lillie & Company, LLC and Lillie Resource Group, which complements and expands GBQ's capabilities to empower growth of the #creditunion industry. As a result of the acquisition, GBQ will rank #3 in the nation for national market share among audit firms, #1 in Ohio, and #1 on Ohio’s list of public #accounting firms by total credit union client assets. Scott Runyan, CPA, #GBQ Director, Financial Services, shared, “Our shared commitment to the industry is reflected in our combined growth in size, scope and client relationships. Together, we are better positioned to provide comprehensive, best-in-class solutions to empower growth of our clients’ businesses.” Read more: https://hubs.la/Q02_CcQF0

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