Credit Union Conversations: Recent Episodes
Mark Ritter
Welcome to Credit Union Conversations podcast with your host, Mark Ritter, a forward-thinking CEO, who excels in helping credit unions, small businesses, and real estate investors succeed.
Join Mark as he explores current trends, interview industry experts, and get fresh insights on optimizing your lending operations and delivering the best possible services to credit union members.
More about your host:
Mark Ritter is the CEO of MBFS & Nu Direction Lending and an expert in credit unions and business lending. His primary role at MBFS is overseeing the strategy of helping credit unions assist members with business needs and consulting with credit unions on planning the delivery of services to their membership.
In 2002, Mark started a large central Pennsylvania credit union’s business lending program as “one person and a desk” with no policies, products, staff, systems, or business members. That program grew to be one of the top ten in the nation. In 2012, he took on the challenge of being the CEO of a business lending CUSO. Mark was the fifth CEO in five years for the organization, which lost money every month of its existence. Since joining MBFS, Mark increased the number of credit unions the CUSO and revenue by over 10x and ensured positive cash flow every full year he’s been at the CUSO. More importantly, MBFS has helped countless credit union members gain the financing they need for business and investment needs. Mark is a native of Berwick, PA in northeast Pennsylvania, where he was a member of his high school’s nationally ranked and state championship football team. After high school, Mark hung up his cleats to work for the Penn State Nittany Lions full-time as a student assistant while attending Penn State as an undergrad. During this time Penn State transitioned to the Big Ten and culminated in Penn State’s first Big Ten Championship and a trip to the Rose Bowl. Mark remains an avid Penn State supporter. Today Mark lives in Bucks County, PA outside of Doylestown with his wife and two teenagers.
Mark Ritter sits down with Eben Sheaffer on Credit Union Conversations, talking credit union lending. Eben shares his journey from Wall Street finance to CDFI leadership, explaining how working capital financing and adaptive reuse lending are reshaping underserved communities across the country. From a groundbreaking securitization in equipment financing to revitalizing Detroit through impact-driven loans, Eben reveals why credit unions hold a natural edge in accounts receivable financing for small businesses. A candid look at the K-shaped economy rounds out this insightful conversation.
What You Will Learn in This Episode:
✅ Why credit union lending gives depositories a natural edge in accounts receivable financing for small businesses.
✅ How adaptive reuse lending is helping revitalize vacant buildings in Detroit while lowering carbon impact.
✅ What the K-shaped economy means for community development and future loan demand.
✅ Why working capital financing remains the biggest unmet need for small business borrowers.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Eben Sheaffer shares his origin story and unexpected path into community development credit unions
05:51 Consulting work today, including equipment financing and a first-of-its-kind securitization deal
06:56 Adaptive reuse lending and revitalizing vacant Detroit neighborhoods through impact investment
10:19 Navigating volatile interest rates, inflation swings, and the realities of the K-shaped economy
13:03 Running a CDFI in New York City and competing with large banks down the street
20:56 Best opportunities ahead in working capital financing for credit unions and CDFI lenders
KEY TAKEAWAYS:
💎Credit union lending thrives when institutions lean into working capital financing and accounts receivable deals.
💎 Adaptive reuse lending offers a lower carbon path to solving housing shortages in cities like Detroit.
💎 Understanding the K-shaped economy helps credit unions serve every segment of their community, not just the top.
ABOUT THE GUEST:
Eben Sheaffer - LinkedIn
Gotham Impact Advisors - Website
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Lending, CDFI, Business Lending, Working Capital Financing, Adaptive Reuse, Community Development, Neighborhood Trust, Accounts Receivable Financing, Equipment Financing, Securitization, Interest Rates, K-shaped Economy
What happens when a mid-sized credit union outgrows its comfort zone? Andrew Wilson of Navigator Credit Union joins host Mark Ritter to unpack the strategy behind explosive net income growth, a booming mortgage lending portfolio, and a scrappy new commercial lending division built almost from scratch. Wilson gets candid about surviving NCUA Exams, building trust with regulators, and why CUSO partnerships have become a secret weapon for smaller credit unions competing against the biggest banks in the country. Along the way, Auburn football and Mississippi Gulf Coast living make for a genuinely fun listen.
What You Will Learn in This Episode:
✅ How Navigator Credit Union built a thriving commercial lending program through smart CUSO partnerships
✅ Why strong credit union lending yields and low cost of funds drive outsized net income
✅ Practical tips for surviving NCUA exams and building lasting relationships with regulators
✅ How digital banking and mortgage lending growth expanded member access along the Mississippi Gulf Coast
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
(00:00) Andrew Wilson of Navigator Credit Union talks about Birmingham, growth along the Mississippi Gulf Coast and Auburn football
(13:29) A discussion on CUSO partnerships and collaboration among credit unions in commercial lending
(16:45) Wilson explains how Navigator balances digital banking with in-branch member experience
(20:07) The strategy behind Navigator's high net income and impressive credit union lending yields
(22:32) Wilson shares his top tips for navigating NCUA exams and building examiner relationships
(28:43) Wilson details loan portfolio diversification and strong mortgage lending growth and shares his outlook for the future
KEY TAKEAWAYS:
💎 A disciplined commercial lending strategy through CUSO partnerships can turn a small credit union into a serious profit engine
💎 Welcoming NCUA exams as a partnership, not a battle, builds trust and smoother reviews over time
💎 Investing in both digital banking and face-to-face service keeps member experience strong across markets
ABOUT THE GUEST:
Andrew Wilson - LinkedIn
Navigator Credit Union - Website
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Lending, Navigator Credit Union, Business Lending, Commercial Lending, CUSO Partnerships, Federal Credit Union, NCUA Exams, Consumer Lending, Mortgage Lending, Digital Banking, Deposit Growth, Loan Portfolio, Credit Risk, Member Experience
From bartending in Estes Park to golf lessons to running a multimillion-dollar CUSO, Michael Nagl's story proves that the best leaders take unexpected roads. He and Mark Ritter dig into mortgage-lending boom-and-bust cycles, why member service still beats automation, and how a niche auto-leasing program now serves credit unions nationwide. They also swap stories about golf at altitude and Estes Park, Colorado. Whether you run lending or just love a great career journey story, this episode of Credit Union Conversation delivers insight, humor, and real talk about building lasting credit union partnerships in a shifting rate environment.
What You Will Learn in This Episode:
✅ How credit union lending partners like Centennial balance mortgage rate cycles with steady member service
✅ Why member business loans and commercial real estate lending demand local market expertise
✅ How indirect auto loans and leasing give credit unions a low-delinquency, high-yield product
✅ What separates a true credit union partnership from a simple vendor relationship
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Meet Michael Nagl, CEO of Centennial Lending, and learn about his ties to Estes Park, Colorado
05:10 From bartending to golf pro, Michael's unconventional path into credit union lending
12:19 Managing mortgage lending boom and bust cycles, including the 2023 workforce reduction
16:02 Why member service still wins over automation in today's mortgage lending market
22:56 Inside Centennial's member business loans and commercial real estate lending strategy
29:53 How indirect auto loans and leasing became a niche win for the credit union service organization
37:13 What makes a strong credit union partnership work, plus Centennial's four strategic pillars
KEY TAKEAWAYS:
💎 Strong credit union lending relationships depend on communication, discipline, and genuine member service, not just rates
💎 Mortgage lending is cyclical, and CUSOs that absorb the boom and bust protect staff and credit union partners alike
💎 Auto leasing and member business loans give credit unions low-delinquency ways to diversify their lending portfolio
ABOUT THE GUEST:
Michael Nagl - LinkedIn
Michael Nagl - Email
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Lending, Mortgage Lending, Member Business Loans, Commercial Real Estate Lending, Auto Leasing, Indirect Auto Loans, Credit Union Service Organization, Centennial Lending, Blue Federal Credit Union, Mortgage Rates
Careers in the credit union industry can take unexpected turns, as Kendall Boyle proves in this episode of Credit Union Conversations. From wedding-planning chaos to underwriting spreadsheets, Kendall’s career path is anything but ordinary. Host Mark Ritter chats with the MBFS portfolio analyst about surviving hospitality burnout, thriving in remote work, and finding calm through animal fostering. Kendall opens up about the emotional side of fostering kittens, the perks and pitfalls of working from home, and why Michigan summers on the lake make the long winters worth it. It's a warm, funny, and honest conversation about building a career that actually fits your life, on your own terms.
What You Will Learn in This Episode:
✅ How Kendall moved from event planning and hospitality burnout into mortgage underwriting
✅ Why remote work at a credit union CUSO can support real work-life balance
✅ What it takes to become a foster home for kittens through your local humane society
✅ How credit union careers can lead to meaningful work in business lending nationwide
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Mark welcomes Kendall Boyle, portfolio analyst at MBFS, who shares her origin story
06:24 Kendall describes her career change into mortgage underwriting during the 2020 pandemic
08:52 Kendall discusses the pros and cons of remote work and finding true work-life balance
12:35 Kendall talks about fostering kittens and volunteering with the Capital Area Humane Society
16:44 Mark and Kendall close out discussing Michigan summers, snow belt winters, and MBFS
KEY TAKEAWAYS:
💎 Career changes can lead somewhere unexpected, as Kendall Boyle's move from event planning to mortgage underwriting shows.
💎 Remote work isn't just convenient; it can boost productivity and support a healthier work-life balance.
💎 Giving back through animal fostering, such as volunteering with a local humane society, brings meaning beyond the office.
ABOUT THE GUEST:
Kendall Boyle - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Careers. Business Lending, Remote Work, Underwriting, Mortgage Industry, Foster Kittens, Humane Society, Work Life Balance
What does it take to leave a prestigious law career, join the most hated government program in history, and then launch a fintech startup with no clients, no marketing materials, and no industry relationships? Ian Lampl did exactly that. Host Mark Ritter welcomes Ian, founder and CEO of LoanStreet, to discuss the evolution of loan servicing, commercial lending, and the broader fintech landscape. Ian shares his journey from Wall Street attorney to TARP deputy counsel to entrepreneur, offering candid insight into what it takes to build a company from scratch in the credit union space. The conversation covers how credit union balance sheet management tools have matured and where the biggest gaps remain.
What You Will Learn in This Episode:
✅ How loan participation has grown from a niche liquidity tool into a sophisticated balance sheet management strategy that more credit unions are using as a primary resource rather than a last resort.
✅ Why credit unions tend to overestimate charge-off risk while underestimate prepayment risk, and how a stronger focus on total return could meaningfully improve lending program performance.
✅ What sets modern loan servicing platforms apart from legacy systems, and why the complexity of commercial lending infrastructure makes it one of the hardest and most underserved areas in fintech.
✅ How LoanStreet is expanding into private credit, Canadian credit unions, and European markets while deepening its consumer analytics capabilities through a partnership with Experian.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Mark opens with a look at 2026 lending trends and introduces loan participation expert Ian Lampl
01:44 Ian reflects on his time at TARP, government oversight challenges, and lessons from the 2008 financial crisis
06:18 From law firm to entrepreneur: Ian discusses the risk of leaving a stable career to build a fintech startup, and shares advice regarding starting your own business
12:06 How the loan participation marketplace has grown in sophistication, scale, and frequency across the credit union industry
15:15 Ian explains why credit unions underweight prepayment risk and how focusing on total return improves outcomes
22:28 Inside LoanStreet's commercial loan servicing platform and why modern solutions in this space remain rare
28:31 Ian discusses the upcoming growth expected for LoanStreet
KEY TAKEAWAYS:
💎 Loan participation has evolved from a last-resort liquidity move into one of the most powerful balance sheet management tools available to credit unions, with more institutions now using it earlier and at greater scale.
💎 Credit unions consistently overweight charge-off risk while underweighting prepayment risk, and shifting toward a total return mindset could unlock stronger performance across programs like indirect auto and residential lending.
💎 Modern loan servicing platforms for commercial lending are rare because building them requires deep industry knowledge, years of development, and significant fintech investment. LoanStreet is one of the few companies actively closing that gap, with a large R&D budget and updates released every two weeks.
ABOUT THE GUEST:
Ian Lampl is the co-founder and CEO of LoanStreet Inc., an innovative online platform that helps financial institutions to manage, scale and analyze loans on their balance sheets, connect with partners and effectively share risk.
Prior to launching LoanStreet, Ian served as Deputy Chief Counsel for the Office of Financial Stability which implemented the Troubled Asset Relief Program (TARP) for the United States Department of the Treasury. While at Treasury, Ian developed and managed a number of the Treasury programs to stem the financial crisis. For his work, he received the Treasury Secretary's honor award for exemplary public service.
Ian is recognized as an industry leader in loan participations and is a frequent speaker at banking, credit union, and financial technology conferences. Before joining Treasury, Ian was an attorney at Cravath, Swaine & Moore LLP, where he focused on commercial lending and securities offerings. He graduated with honors from both University of Chicago Law School and Princeton University, where he received a B.S.E. in Electrical Engineering.
LoanStreet - Website
Ian Lampl - Email
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Loan Participation, Loan Servicing, Balance Sheet Management, Commercial Lending, Fintech, Loan Origination, Private Credit, Prepayment Risk, Charge-off Risk, Loan Portfolio, Balance Sheets, Transforming Loan Portfolios
Are your current vendor relationships helping you solve real problems or just cluttering your technology stack? In this episode, Mark Ritter sits down with Melissa Kopp, Chief Revenue Officer for the League of Credit Unions and its affiliate Leverage, to discuss how credit union fintech partnerships are shifting from standard product pitching to collaborative problem solving. Melissa shares her insider perspective on how institutions can build a trusted member journey by moving past isolated products and focusing on connected experiences. This conversation delivers practical advice on maximizing conference ROI, evaluating vendor ecosystems, and leveraging the true spirit of cooperation among cooperatives.
What You Will Learn in This Episode:
✅ Why shifting from isolated product evaluations to comprehensive ecosystem evaluation is critical
✅ How prioritizing problem solving over aggressive sales tactics drives credit union growth
✅ What fintech disruption means for credit unions trying to build modern experiences
✅ Why focusing on credit union collaboration and shared mission outlasts big bank tactics
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Introduction: Meet Melissa Kopp
03:55 The evolution and footprint of the League of Credit Unions and Leverage
05:09 Vendor connection mistakes and building a trusted member journey
08:06 Shifting from simple product sales to strategic ecosystem evaluation
12:17 Packaging financial outcomes over individual product banking
15:57 Navigating conference networking and driving relationship transformation
19:16 Embracing credit union collaboration and cooperation among cooperatives
23:00 Melissa's practical advice on creating modern experiences for members
KEY TAKEAWAYS:
💎 Trust moves slower in the credit union space, which means that long-term relationships matter significantly more than aggressive sales tactics. Credit union leaders must focus on reputation and baseline credibility before jumping straight into product implementation.
💎 Modern evaluation has completely shifted from isolated product testing to a broader ecosystem evaluation that includes integration, data strategy, and cultural alignment. Leaders should avoid duct-taping disconnected apps together because it harms the final member experience.
💎 Credit unions should stop trying to out-bank the commercial mega-banks and instead double down on their mission-driven roots. The ultimate competitive advantage lies in combining seamless digital convenience with trusted, localized relationships.
ABOUT THE GUEST:
Melissa Kopp, Chief Revenue Officer for the League of Credit Unions.
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Melissa Kopp, The League of Credit Unions, credit union fintech partnerships, modern experiences, trusted member journey, strategic innovation, ecosystem evaluation, Business Lending, Credit Union Growth, credit union business lending, CUSO lending, credit union podcast, credit union loan participation, credit union member business loans, credit union leadership podcast, commercial lending credit unions, credit union succession planning, NCUA compliance, credit union CUSO business lending podcast, how credit unions grow business loan programs, Leverage, cooperation among cooperatives, problem solving, relationship transformation, credit union collaboration
What does it really take to grow a business lending CUSO in 2026? Mark Ritter and Jeff Lyons pull back the curtain on eight years of organizational evolution, honest reflections on artificial intelligence, and where credit union technology is finally delivering results. From Microsoft Copilot upgrades that went from frustrating to impressive, to AI-assisted hiring wins, to the unfiltered reality of conference networking, this conversation is refreshingly direct. If you work in fintech or credit unions and want a perspective grounded in real experience rather than buzzwords, this episode is for you.
What You Will Learn in This Episode:
✅ How credit union technology like Microsoft Copilot and ChatGPT has evolved from clunky early tools into genuinely useful platforms for business efficiency inside a growing CUSO.
✅ Why a thoughtful approach to AI adoption paid off for MBFS, including a real example of how updated job descriptions powered by AI led directly to a successful hire.
✅ How portfolio management practices and internal team development have transformed credit union growth at MBFS over eight years of organizational change.
✅ What conference networking looks like today compared to 20 years ago, and why showing up at trade shows is now more about relationships than closing deals on the floor.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Jeff Lyons reflects on eight years of credit union growth and his evolving COO role
05:14 History of artificial intelligence, from Clippy to ChatGPT and credit union technology
09:44 Honest take on Microsoft Copilot, AI adoption struggles, and real business efficiency gains
14:21 How AI adoption improved hiring via smarter job descriptions and operational efficiency
16:16 The changing reality of conference networking, trade show etiquette, breakfast buffets, and industry trends observations
21:52 Wrapping up favorite conferences and final thoughts on AI adoption in credit union growth
KEY TAKEAWAYS:
💎 Artificial intelligence tools like Microsoft Copilot and ChatGPT are no longer aspirational. Teams willing to invest in better prompting and consistent use are delivering real gains in business efficiency right now.
💎 AI adoption works best in small, practical steps. The MBFS team saw direct results when they used AI to sharpen a job posting, proving that credit union technology need not be complex to create a measurable impact.
💎 Conference networking remains valuable for credit union growth, but the purpose has shifted. Today, the goal is to maintain relationships and digital marketing visibility, not to generate new business from the booth floor.
ABOUT THE GUEST:
Jeff Lyons - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Technology, Artificial Intelligence, Business Lending, Microsoft Copilot, ChatGPT, Financial Technology, Credit Union Growth, Portfolio Management, Trade Shows, Conference Networking, AI Adoption
Credit union strategy takes center stage as Mark Ritter welcomes industry veteran Jay Murray to Credit Union Conversations. From teller to CEO, Jay's path through corporate credit union leadership shaped decades of collaboration within the credit union sector. He reflects on the financial crisis, regulatory gaps, and how shared services helped small institutions survive and scale. Jay also unpacks the importance of succession planning and why the cooperative model remains vital. His long-tail insight: Credit union succession planning strategies are essential for institutions that want to outlast their current leadership.
What You Will Learn in This Episode:
✅ How credit union strategy evolves over decades, and why leaders who embrace credit union collaboration and shared services consistently outperform those who go it alone.
✅ What the corporate financial crisis revealed about regulatory oversight and why understanding credit union history prepares today's leaders for tomorrow's risks.
✅ Why succession planning at both the CEO and board level is the difference between an institution that thrives beyond its founder and one that quietly disappears.
✅ How the cooperative model and financial literacy initiatives can position credit unions as indispensable community anchors in an increasingly corporate financial landscape.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Jay Murray's origin story: from forestry dreams to credit union leadership and becoming a teller at a family savings and loan
03:16 The early days of corporate credit union outreach, visiting 1,150 Pennsylvania credit unions
05:34 How Mid-Atlantic Corporate grew through mergers and rebranded as VIZO
08:55 The financial crisis: what regulatory oversight missed and what the NCUA ultimately did
15:33 Building credit union collaboration through myCUservices and RKGO BIG
19:57 Succession planning and forward-thinking board governance determine whether a credit union survives
KEY TAKEAWAYS:
💎 Adaptability defines survival. The credit unions and businesses that thrive are those committed to a credit union strategy built on constant movement, change, and a willingness to evolve before circumstances force them to do so.
💎 Collaboration is not optional. Credit union collaboration and shared services lower costs and expand capabilities, yet too few institutions pursue deep cooperation. The cooperative model only works when members of the movement genuinely commit to it.
💎 Plan beyond yourself. Meaningful succession planning at the CEO and board level ensures the institution outlasts any single leader. Community banking relationships and financial literacy efforts give credit unions a purpose that mergers and acquisitions cannot replace.
ABOUT THE GUEST:
Jay Murray - LinkedIn
Business Broker/Intermediary with Murphy Business Sales of Greater Harrisburg, leveraging over 30 years of executive leadership experience to help entrepreneurs navigate critical business transitions. Specializing in business consulting and facilitating successful transactions, I bring practical experience having led multiple successful organizations through strategic transitions.
As both a business owner and intermediary, I provide strategic insight and tactical expertise for those looking to buy, sell, or grow their business. Currently serving as President of Julius Gray and Associates, LLC, Principal of Julius Gray Business Services, LLC, and Co-owner of Huntington Learning Center - Harrisburg East, where we help students overcome learning challenges through personalized tutoring and test prep services.
Previously served as CEO of Vizo Financial Corporate Credit Union and President/CEO of Mid-Atlantic Corporate Federal Credit Union, where I led organizations serving over 1,000+ credit unions nationwide. Extensive experience in operations management, nonprofit leadership, and sales, with proven expertise in driving organizational growth and optimizing business performance.
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Business Lending, Credit Union Strategy, Corporate Credit Union, Succession Planning, Credit Union Collaboration, Strategic Planning, Financial Literacy, Cooperative Model, Credit Union History, Shared Services, Community Banking, Credit Union Leadership, Financial Crisis
Is your credit union ready for what is happening in mortgage banking right now? In this episode of Credit Union Conversations, host Mark Ritter sits down with John Giordano of First Heritage Mortgage Services to break down the real state of mortgage rates, housing inventory, and home affordability in 2026. With over 1,800 active pre-approvals on the books and portfolio loans gaining ground, John reveals why this moment is one of the greatest opportunities credit unions have seen in years and what it takes to seize it.
What You Will Learn in This Episode:
✅ Why today's mortgage rates and tight sale margins are pushing credit unions toward portfolio loans as a smarter, more profitable lending strategy than traditional secondary market selling.
✅ How the housing market has become deeply regionalized across nine distinct U.S. regions, and what that means for loan production and mortgage banking strategy at the local level.
✅ What role mortgage technology and faster loan origination timelines are playing in helping credit unions compete with large national lenders like Rocket Mortgage and Wells Fargo.
✅ Why housing supply shortages and builder deregulation discussions from Washington could reshape home affordability and home buying demand for credit union members in the years ahead.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 John shares his background at First Heritage and how its services are unique
04:15 John’s perspective on why today's mortgage banking environment is unlike any prior cycle
09:24 How the U.S. housing market has split into nine distinct regional quadrants affecting home buying and loan production
15:35 The strategic shift: why credit unions are choosing portfolio loans over secondary market sales to protect margins
20:30 Record pre-approvals signal strong demand, but housing supply and new construction shortfalls remain critical barriers
26:10 Millennials reversing course from urban living reveals new home affordability and real estate trends
KEY TAKEAWAYS:
💎 Mortgage rates began 2026 nearly a full point lower than the prior year, creating a genuine opportunity for credit unions to grow loan production and deepen member home-buying relationships right now.
💎 The shift toward portfolio loans is not a trend but a necessary evolution, as razor-thin margins in mortgage banking make the traditional originate-and-sell model far less viable for sustainable credit union revenue.
💎 Housing supply remains the core challenge underlying home affordability, with the largest U.S. builders producing fewer than 90,000 units per year, nowhere near enough to meet current real estate demand across the country.
ABOUT THE GUEST:
First Heritage - Website
Mortgage Chit Chat - Podcast
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Mortgage Rates, Home Loans, Mortgage Banking, Housing Market, Interest Rates, Pre-Approval, Portfolio Loans, Secondary Market, Home Affordability, Loan Origination, Housing Inventory, Refinancing, Mortgage Innovation
What does it take to build a thriving credit union business lending program in today's market? Mark Ritter sits down with Joe Hyatt of DFTC to unpack decades of experience in commercial lending, loan underwriting, and portfolio diversity. From navigating NCUA compliance to chasing treasury management goals, they share candid insights on what credit unions are doing right and where they still fall short. If you work in business lending, this conversation will hit close to home.
What You Will Learn in This Episode:
✅ How credit union business lending has shifted from a rigid, prescriptive regulatory framework to a more flexible, opportunity-driven environment, and what that means for your program today.
✅ Why strong credit administration, consistent independent loan review, and thorough annual reviews are the foundation of surviving and succeeding in an NCUA compliance examination.
✅ How portfolio diversity, including a move toward C and I lending, small business lending, and treasury management, is reshaping how credit unions approach growth and member relationships.
✅ Why credit union technology and emerging AI tools are no longer optional, and how embracing innovation will determine which programs lead and which get left behind.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Joe Hyatt details DFTC's loan underwriting, training, and independent loan review services built for credit unions nationwide
04:25 Reflecting on the early days of member business lending and the evolution of talent, tools, and portfolio limits
08:39 Joe outlines keys to NCUA compliance: strong policies, solid credit administration, and proactive loan workout planning
12:50 Exploring portfolio diversification, treasury management, and why small-business lending competes with larger commercial real estate deals
18:45 Some of the big differences for better or worse today versus the old days
21:48 Joe's closing thoughts on portfolio diversity, AI adoption, and why credit union technology will separate tomorrow's leaders from the rest
KEY TAKEAWAYS:
💎 Success in credit union business lending is not accidental. Programs that invest in strong policies, consistent credit administration, and proactive, independent loan review hold up under examiner scrutiny and deliver long-term results.
💎 Chasing large commercial real estate transactions is tempting, but sustainable growth requires intentional portfolio diversification, small-business lending, and building full treasury relationships with business members.
💎 The credit unions that will lead in the next decade are those willing to embrace credit union technology and AI tools now. Waiting is not a neutral position; it is a choice to fall behind as the industry rapidly evolves.
ABOUT THE GUEST:
Joe Hyatt - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Business Lending, Commercial Real Estate, Loan Underwriting, Portfolio Diversity, Credit Administration, Treasury Management, Independent Loan Review, Commercial Lending Training, C And I Lending
What does it take to lead a credit union from the inside out? Maurice Dawkins, CEO of American Spirit Federal Credit Union, built his career on preparation, passion, and people. From growing up in Jamaica to earning an accounting degree in Maine, Maurice never planned to run a credit union, but he proved he was built for it. His philosophy of staff training, member advocacy, and bold community lending helped American Spirit defy regulatory pressure and grow stronger. He also explains why increasing credit union marketing during periods of uncertainty and embracing artificial intelligence are essential moves for survival in today's financial landscape.
What You Will Learn in This Episode:
✅ How credit union leadership is built through preparation and cross-departmental learning. Maurice explains why spending time in every department, especially accounting, is the foundation for anyone pursuing executive development in the credit union industry.
✅ Why bold community lending decisions can define a credit union's long-term survival and strengthen its relationship with member advocacy.
✅ How credit union collaboration among small and mid-size institutions creates a powerful alternative to expensive outside consulting, allowing credit unions to share strategies and grow together.
✅ Why embracing artificial intelligence and increasing credit union marketing during uncertain economic times are the two forward-thinking moves every credit union leader should be making right now.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Maurice shares his journey from Jamaica to Maine and how adaptability shaped his financial leadership
03:13 How Maurice discovered the credit union industry and was promoted to VP before his first day on the job
07:20 The history of American Spirit and how staff training and one-stop service drove credit union growth
13:04 Maurice's advice on navigating regulatory challenges and standing firm on community lending decisions
18:05 Why artificial intelligence and bold credit union marketing are the keys to staying relevant in today's landscape
KEY TAKEAWAYS:
💎 Credit union leadership is earned through preparation. Maurice Dawkins rose from a VP candidate to CEO in under two years by learning every corner of the business and letting his work speak for itself.
💎 Standing firm on community lending and business loans despite regulatory pressure was the decision that made American Spirit financially stronger. Serving members well is always the right long-term strategy.
💎 Credit union collaboration is one of the most underused tools available to small and mid-size institutions. Sharing strategies across the industry costs nothing and builds the kind of membership growth that sustains credit unions for generations.
ABOUT THE GUEST:
Maurice Dawkins - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Business Lending, Credit Union Leadership, Credit Union Growth, Community Lending, Member Services, Business Loans, Financial Cooperation, Executive Development, Credit Union Collaboration, Regulatory Challenges, Small Credit Union, Member Advocacy
What does it actually take to close the right deal for both the borrower and the credit union? Tom Halliday, head of business lending sales at MBFS, joins host Mark Ritter to answer that question with candor and expertise. From mastering the first-borrower conversation to navigating today's fierce loan-participation marketplace, Tom reveals why the best lenders act as trusted advisors, not order-takers. If your credit union is serious about growing its commercial loan portfolio while managing risk intelligently, this episode delivers the real-world insight you need.
What You Will Learn in This Episode:
✅ How to approach the initial business lending conversation by focusing on borrower goals, experience, and story rather than jumping straight to documents and data.
✅ Why today's market conditions demand that credit union relationship managers understand both geography and portfolio concentration before recommending any commercial real estate deal.
✅ What factors beyond rate, including prepayment penalties, deposit requirements, and debt service coverage ratio covenants, shape a winning loan negotiation strategy?
✅ How the loan participation marketplace has shifted dramatically, making speed and responsiveness essential for credit unions looking to grow their loan portfolio.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Tom Halliday's background in small business lending and his journey to leading business lending sales at MBFS
02:04 How MBFS has grown its loan origination team and what that expansion means for credit union partners
03:03 The art of the first borrower conversation and why understanding goals matters more than gathering documents
05:19 A breakdown of current market conditions, interest rates, and challenging sectors in commercial real estate
10:00 Discussion of commercial loans and negotiations
11:44 Inside the loan participation marketplace and why credit unions must move fast to secure deals today
13:36 Tom's move to Tennessee and a fun trivia segment wrapping up the episode
KEY TAKEAWAYS:
💎 The best business lending professionals act as trusted advisors, not order takers. Understanding a borrower's goals, history, and business story leads to stronger loans and better outcomes for the credit union.
💎 Market conditions vary significantly by region and property type. Commercial real estate sectors like office space carry elevated risk today, while medical offices continue to perform well, making local market knowledge essential.
💎 The loan participation marketplace is highly competitive right now. Credit unions that respond quickly and build strong origination pipelines are best positioned to grow their loan portfolio and manage concentration limits.
ABOUT THE GUEST:
Tom Halliday - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Business Lending, Credit Union, Commercial Loans, Loan Origination, Business Members, Participation Loans, Interest Rates, Loan Portfolio, Small Business Lender, Commercial Real Estate, Collateral, Debt Service
What happens when a global HR expert falls in love with the credit union movement? Nenuca Syquia, CEO of Boxd, joins Mark Ritter to challenge how credit unions think about leadership development, change management, and staying relevant in a shifting market. With the average credit union member now 53 years old, the urgency to attract younger generations is real. Nenuca brings bold ideas on board diversity, mission-driven culture, and why the best-kept secret in financial services needs to start telling a much better story.
What You Will Learn in This Episode:
✅ Why credit union leadership must evolve beyond institutional comfort zones, and how bringing in diverse board perspectives can sharpen both mission focus and competitive awareness against the broader financial services market.
✅ How the concept of "human bridges" inside your organization can prevent costly digital transformation failures by connecting tech language with real-world member workflows and day-to-day operations.
✅ How embedding long-tenured employee knowledge into clear operational principles supports member experience consistency, especially as credit unions grow through merger integration and generational workforce transitions.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Observations on credit union leadership trends and Mark introduces Nenuca Syquia of Boxed
03:11 Nenuca shares her personal journey as a credit union member and her mission to expand awareness of credit unions
11:19 Member demographics, aging membership, and why attracting younger generations is critical for credit union growth
15:20 Human bridges and how they connect tech teams to real-world member experience and digital transformation efforts
20:21 Board diversity, insularity within the industry, and the need for diverse expertise at the leadership level
27:41 Mission-driven culture and change management principles help credit unions stay locally relevant
KEY TAKEAWAYS:
💎 Credit union leadership cannot afford insularity. Boards need members who combine deep mission loyalty with operational literacy, tech fluency, and awareness of the full competitive landscape beyond rival credit unions.
💎 Long-tenured staff carry irreplaceable institutional knowledge, but that knowledge must be deliberately extracted and embedded into organizational systems before retirements and growth make it permanently inaccessible.
💎 Successful digital transformation in credit unions depends far less on selecting the right technology and far more on changing human behavior, building trust across departments, and creating clear pathways that support employee engagement at every level.
ABOUT THE GUEST:
Boxd - Website
Nenuca Syquia - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
Life of a New Credit Union CEO - Kelly Botti
Checking In With Ancin Cooley of Synergy Credit Union Consulting and CU Communities
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Leadership, Credit Union Strategy, Organizational Performance, Member Experience, Digital Transformation, Board Diversity, Human Resources, Institutional Knowledge, Merger Integration, Change Management, Mission Driven Culture, Better Organizations By Design
In 2025, credit union business lending quietly staged one of its strongest comebacks in years, and Mark Ritter has the numbers to prove it. From a 25% surge in business loan volumes to a 43% jump in participation loans, the recovery exceeded nearly every expectation. But Mark does not stop at the good news. He tackles the slow erosion of community lending, the growing threat of credit union mergers, rising delinquency rates, and an NCUA board in limbo that could create regulatory turbulence for years to come. This is the episode you forward to everyone in your network.
What You Will Learn in This Episode:
✅ How credit union business lending rebounded in 2025, with industry-wide business loan volumes climbing over 25% and participation loans rising 43% after years of tightening liquidity.
✅ Why credit union consolidation and ongoing credit union mergers are quietly weakening community lending and reducing the cooperative presence in local markets across the country.
✅ How rising delinquency rates and increased charge-offs are signaling early stress in portfolios, particularly among larger institutions that leaned into big real estate loans without personal guarantees.
✅ Why the NCUA board leadership gap is creating real strain on credit union examiners and slowing down the regulatory clarity that smaller credit unions desperately need.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Credit union business lending volumes for 2025 are revealed, including a 25% industry-wide surge
04:05 Participation loans jumped 43%, and MBFS crossed 1,000 loan underwriting milestones in a single year
06:14 Mark has some random thoughts about the industry
09:54 New people in the industry, credit union mergers, and consolidation are shrinking community lending and weakening local cooperative roots
13:48 Rising delinquency rates and charge-offs signal growing portfolio stress tied to loosened business lending standards
15:19 The NCUA board leadership vacuum is straining credit union examiners and stalling critical regulatory relief
KEY TAKEAWAYS:
💎 Credit union business lending surged over 25% in 2025, with participation loans up 43%, proving the industry can recover strongly after a prolonged liquidity crunch when conditions align.
💎 Credit union mergers continue to erode community lending at a local level, with member engagement in cooperative principles so low that consolidation often passes with only a fraction of members voting.
💎 The current NCUA board vacancy is not a bureaucratic footnote. It is creating mounting pressure on credit union examiners and delaying the regulatory relief smaller institutions need to operate effectively.
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Small Credit Unions, Business Lending, Credit Union Industry, Loan Origination, Participation Loans, Liquidity Crunch, Delinquency Rates, Credit Union Mergers, Cooperative Principles, NCUA Board, Regulatory Relief, Business Loan Volumes, Community Lending, Credit Union Consolidation
What does it take to lead a community credit union for over a decade while honoring a 42-year legacy? In this episode of Credit Union Conversations, Mark Ritter talks with Amey Sgrignoli, CEO of Belco Community Credit Union, about navigating executive succession, evolving board governance, and building a standout brand in a competitive market. Amey shares how her roots in business lending shaped her leadership style and why strong member relationships, smart fintech partnerships, and a commitment to financial education remain at the heart of Belco's growth strategy.
What You Will Learn in This Episode:
✅ How to navigate credit union leadership transitions from a long-tenured CEO while preserving institutional culture and accelerating forward momentum.
✅ Why intentional board governance and proactive volunteer recruitment are critical to a community credit union's long-term health and strategic direction.
✅ How to evaluate fintech partnerships with eyes wide open, protecting your brand reputation while still embracing digital banking innovation and technology.
✅ How staying rooted in member relationships and financial education helps a growing credit union compete against larger regional banks and institutions.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Introduction: Meet Amey Sgrignoli of Belco Community CU
05:47 Lessons learned from an executive succession transition following a 42-year CEO legacy at Belco Community CU
08:55 Evolving board governance, volunteer recruitment pipelines, and building a high-performing credit union board
13:53 Being the face of the credit union community-wide
18:53 Competing with larger institutions by leading with member relationships, branch technology, and financial education
24:12 Evaluating fintech partnerships and using the CUSO model to access expertise beyond your asset size
KEY TAKEAWAYS:
💎 Credit union leadership transitions work best when they are deliberate and methodical. Amey co-led Belco Community CU for nearly a year before her predecessor retired, creating stability while opening space for a new vision to emerge.
💎 Strong board governance does not happen by accident. Belco Community CU built a volunteer pipeline over the years, recruiting members with the right qualifications and passion to ensure the board kept pace with industry change.
💎 When vetting fintech partnerships, due diligence is everything. Chasing trends without careful evaluation can expose your credit union to brand reputation, security, and operational risks that outweigh any short-term gain.
ABOUT THE GUEST:
Belco Community Credit Union
Amey Sgrignoli - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Small Credit Unions, Community Credit Union, Executive Succession, Board Governance, Business Lending, Member Relationships, Fintech Partnerships, Financial Education, Digital Banking, Institutional Culture, CUSO Model
Community finance is under pressure. On this episode of Credit Union Conversation, Mark Ritter sits down with Doug Wadsworth to unpack the realities facing small credit unions, including expanding regulatory burdens, rising compliance costs, and growing competition among credit unions. They discuss why credit union advocacy matters, how the cooperative model must evolve, and what practical leadership looks like when serving members in an increasingly complex financial environment.
What You Will Learn in This Episode:
✅ How small credit unions manage increasing regulatory burden and mounting compliance costs during NCUA examinations
✅ Why credit union advocacy is essential to protecting the cooperative model and strengthening member impact
✅ How credit union competition from large financial institutions and FinTech competition is reshaping credit union strategy
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Doug shares his journey into the credit union space and his introduction to small credit unions
06:25 The challenges of obtaining services, the weight of NCUA examinations, and the rising regulatory burden on small credit unions
17:18 Survey results reveal growing credit union competition from larger credit unions over smaller ones
21:04 Breaking down compliance costs, HMDA reporting, and NMLS registration
27:58 Advocacy efforts aimed at achieving regulatory relief for small credit unions
31:15 A vision for strengthening the cooperative model and sustaining community finance
KEY TAKEAWAYS:
💎 Small credit unions face a disproportionate regulatory burden that limits growth and operational flexibility
💎 Strong credit union advocacy can reduce unnecessary compliance costs and drive reform
💎 Preserving the cooperative model is essential as financial institutions increase competitive pressure
ABOUT THE GUEST:
Doug Wadsworth - LinkedIn
Keep It Simple - Book by Doug Wadsworth
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Small Credit Unions, Regulatory Burden, Compliance Costs, Credit Union Competition, Credit Union Advocacy, Cooperative Model, Vendor Negotiation, Community Banking, Local Lending, Fintech Competition, Credit Union Strategy, HMDA Reporting, NMLS Registration
Join host Mark Ritter for a refreshing twist on Credit Union Conversations as Carrie Hutton, MBFS's loan origination leader, trades business talk for outdoor adventures and friendly competition. From conquering fears on cliff-side hikes to camping in Montana's stunning Glacier National Park, Carrie reveals her family's passion for exploration before facing the ultimate challenge: an MBFS trivia showdown. Discover the impressive numbers behind MBFS's 2025 success, including $279 million in closed loans and nearly $3 billion in portfolio management, all delivered with humor, personality, and genuine insights into credit union excellence.
What You Will Learn In This Episode:
✅ How MBFS achieved remarkable credit union lending growth in 2025, closing $279 million in loans and underwriting 939 new loan origination deals while maintaining a portfolio approaching $3 billion.
✅ The personal side of financial services leadership as Carrie Hutton shares her family's outdoor activities, including RV camping adventures, dispersed camping with solar panels, and exploring Glacier National Park in Montana.
✅ Inside look at MBFS's operational excellence, including completing 621 annual reviews and serving credit unions nationwide through dedicated relationship managers and origination teams.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Carrie discusses outdoor activities, featuring hiking and kayaking adventures, and conquering the fear of heights
01:33 RV camping stories, including trips to Montana, South Dakota, and dispersed camping with solar panels
04:27 MBFS trivia challenge begins, covering 2025 achievements in loan origination and portfolio management
07:16 Pittsburgh trivia round featuring Steelers Coach Mike Tomlin, Dan Marino, and Pirates pitcher Paul Skenes
KEY TAKEAWAYS:
💎 MBFS demonstrated exceptional growth in credit union lending during 2025, closing $279 million in loans, underwriting 939 new deals, and managing a portfolio of $2.99 billion, showcasing the strength of their relationship managers and origination team.
💎 Successful financial services leadership balances professional excellence with personal passions, as evidenced by Carrie Hutton's dedication to both loan origination and family adventures through hiking, kayaking, and RV camping across America.
💎 The credit union industry continues to thrive through strong partnerships, completing 621 annual reviews and providing essential lending services to credit unions nationwide while maintaining personal connections and team culture.
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Loan Origination, Hikes, Camping, Glacier National Park, MBFS Trivia, Loans, Portfolio, Financial Services Leadership, Credit Union Industry, Steelers Coach, Paul Skenes, Portfolio Management
Chrome Federal Credit Union CEO Bob Flanyak Jr. delivers a masterclass in authentic leadership and organizational culture. From collecting loans to building a 220 million dollar credit union recognized as Washington County's best overall business, Bob's journey reveals what truly matters in financial services. He shares powerful insights on succession planning, why employee relationships trump strategy, and how cooperative values create sustainable competitive advantages. Bob's candid discussion about credit union mergers, community impact, and talent development offers both inspiration and practical wisdom. His father's 29 years as a volunteer board member planted seeds that grew into a career philosophy centered on serving people over profits.
What You Will Learn in This Episode:
✅ How to build and maintain a strong credit union culture through employee engagement, morning huddles, and living your organizational values rather than simply displaying them on walls.
✅ The essential elements of effective succession planning in credit union leadership including balancing internal candidates with external searches while protecting organizational culture and values.
✅ Practical strategies for credit union collaboration and financial literacy programs that allow small and medium-sized institutions to compete effectively without merging, including Financial Reality Fairs and student brand development.
✅ Why brand building and community impact matter more than traditional metrics, and how cooperative values and relationship-focused leadership create sustainable member loyalty and employee engagement.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Intro: Meet Bob Flanyak of Chrome Federal Credit Union
06:31 Career journey from CUNA Mutual to retail credit union leadership across multiple states
09:45 Chrome Federal Credit Union’s history and advice to advance your career in the credit union space
14:26 Succession planning strategy and protecting credit union culture during CEO transitions
17:36 Addressing credit union mergers and fostering collaboration among small institutions
20:54 Financial literacy programs and community impact through Financial Reality Fairs
KEY TAKEAWAYS:
💎 Credit union leadership success starts with self-awareness and relationship building. Know every employee's name, their families, and vacation plans because people need to know how much you care before they care about how much you know.
💎 Effective succession planning requires a systematic approach that protects organizational culture. Chrome Federal used both external recruiters and internal candidate development, ultimately selecting a "quasi-internal" leader who understood its cooperative values and brand-building philosophy.
💎 Credit union collaboration through financial literacy programs offers powerful alternatives to mergers for small institutions. Programs like Financial Reality Fairs allow multiple credit unions to serve communities together, amplifying community impact while preserving independence and local identity.
ABOUT THE GUEST:
Bob Flanyak - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Authentic Leadership, Organizational Culture, Succession Planning, Employee Relationships, Cooperative Values, Credit Union Mergers, Community Impact, Morning Huddles, Organizational Values, Internal Candidates, External Recruiters, Internal Candidate Development
Business lending expert Carrie Hutton shares her journey from military spouse to VP of documentation services at MBFS in this episode of Credit Union Conversations. Host Mark Ritter explores the critical components of the loan closing process, including essential entity documents, title work, and collateral valuations. Hutton reveals how proper documentation requirements for credit union business lending can dramatically reduce closing delays. From managing loan approvals to coordinating environmental due diligence, listeners gain insider knowledge on how to achieve faster, more efficient closings in commercial lending.
What You Will Learn In This Episode:
✅ The realistic timeline for closing commercial real estate loans versus equipment financing deals, and why business lending professionals should expect three to four weeks for real estate transactions, while non-real estate loans can close in under a week.
✅ The four critical loan documentation requirements that consistently delay closings include entity documents with correctly spelled names, title work for correct vesting, accurate collateral valuation, and detailed loan approval documentation.
✅ How credit union operations can avoid common mistakes in the loan closing process, including missing authorized signers on documents and delays caused by incomplete environmental due diligence or appraisal process issues.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Introduction to business lending expert Carrie Hutton and her debut on the Credit Union Conversations podcast
01:10 Carrie's banking career journey from military spouse employment at Bank of America in Japan to credit union roles
04:05 Carrie's role managing the documentation services team and onboarding credit unions
05:46 The ideal loan closing process timeline and managing appraisal process, flood certification, and environmental due diligence
09:07 Common mistakes that delay closings, from missing authorized signers to incomplete loan approval details
KEY TAKEAWAYS:
💎 Successful business lending depends on accurate entity documents with names spelled exactly as filed at the state level. Missing or incorrect operating agreement details and authorized signers are the most common causes of delays, sometimes rendering entire loan documents invalid.
💎 Understanding loan type impacts closing speed significantly. Commercial vehicles, UCC filings, and equipment financing deals close in under a week, while real estate transactions require three to four weeks due to appraisal and environmental due diligence timelines.
💎 Effective team management in documentation services requires clear procedural manuals and systematic tracking of construction loans, change in terms requests, and tickler systems to ensure nothing falls through the cracks during high-volume loan processing periods.
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Business Lending, Loan Documentation, Loan Closing Process, Documentation Requirements for Credit Union Business Lending, Title Work, Collateral Valuation, Loan Approval, Commercial Real Estate, Equipment Financing, Environmental Due Diligence, Appraisal Process, Operating Agreement, Loan Processing
Discover how credit union strategies shape the future of cooperative banking in this compelling conversation between host Mark Ritter and Ancin Cooley, founder of Synergy Credit Union Consulting and CU Communities. From his early days as an OCC examiner to running a consulting practice focused on strategic planning and board development, Cooley shares candid insights on what separates thriving credit unions from those that simply grow to size. They tackle uncomfortable topics, including organic growth versus acquisition strategies, member business lending best practices, CUSO investments, succession planning, and maintaining the cooperative banking philosophy while managing enterprise risk management in today's complex financial institution leadership landscape.
What You Will Learn in This Episode:
✅ How organic growth creates better operators compared to acquisition-driven expansion strategies, and why every hundred million dollars in asset growth teaches painful but valuable lessons that can't be learned through purchases alone.
✅ The critical importance of sophisticated board development and enterprise risk management frameworks to protect member capital, especially when dealing with CUSO investments and preventing the extraction of capital outside the charter.
✅ Best practices for member business lending programs, including how to align your strategy with funding goals, determine appropriate risk appetite, and implement proper credit administration to balance growth with sound credit union strategy.
✅ Why succession planning and cross-functional education matter more than specialization, and how understanding multiple areas from compliance to interest rate risk creates stronger financial institution leadership capable of seeing the bigger picture.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Intro: Meet Ancin Cooley
03:53 Cooley's journey from Wachovia teller to OCC examiner and witnessing organic growth challenges during the banking crisis
08:10 The strategic error of specialization and the importance of cross-functional financial institution leadership education
11:52 What makes credit unions successful across the spectrum from small community institutions to mega growth models
15:49 How board development and accountability gaps allow risky behavior in acquisition-driven credit union strategy approaches
20:23 Venture capital threats and extracting member capital through questionable CUSO investments and cooperative banking concerns
27:04 Priority topics for 2026, including succession planning, technology adoption, and community-focused brand-building strategies
30:50 Member business lending best practices, balancing risk appetite with proper credit administration and relationship focus
34:22 Introduction to CU Communities online learning platform and Synergy Consulting's strategic planning approach for 2026
KEY TAKEAWAYS:
💎 The difference between institutions that grow through organic growth versus acquisition is stark. Building from $100 million to $700 million organically through brand building, lending, and talent development creates operators with hard-won knowledge that acquisition strategies simply cannot replicate.
💎 Sophisticated board development is essential for protecting member capital, especially as free-market capitalist mentality enters cooperative banking. Volunteer boards need training to ask tough questions about CUSO investments, acquisition returns, and balance sheet strategy decisions.
💎 Credit union compliance and cross-functional education should be democratized and affordable. Understanding everything from BSA to interest rate risk creates well-rounded professionals capable of stronger financial institution leadership and strategic thinking.
ABOUT THE GUEST:
About Ancin Cooley: Synergy Credit Union Consulting - Website
CU Communities - Website
Ancin Cooley - Email
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
History Lesson with Todd Harper and Mike Radway
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Strategy, Cooperative Banking, Strategic Planning, Organic Growth, Member Business Lending, Financial Institution Leadership, Board Development, Enterprise Risk Management, Succession Planning, Brand Building, Synergy Credit Union, CU Communities, Ancin Cooley, financial institution leadership, Organic Growth, Acquisitions, interest rate risk
Credit union lending faces pivotal changes in 2026 as interest rates, inflation, and regulatory shifts reshape the landscape. In this episode of Credit Union Conversations, host Mark Ritter and MBFS COO Jeff Lyons make bold predictions about fed rate movements, treasury rates, and commercial lending growth. They discuss how rising delinquency rates may affect the industry and explore the NCUA's anticipated regulatory priorities, including oversight of AI and automation. From mortgage rates to commercial real estate refinancing opportunities, this Quick Hits episode delivers actionable insights for credit union leaders navigating an uncertain economic environment in the year ahead.
What You Will Learn In This Episode:
✅ How fed rate reductions and treasury rates will influence credit union loan pricing strategies and member borrowing costs throughout 2026
✅ Why commercial lending growth may slow, while commercial real estate refinancing opportunities emerge from distressed properties
✅ What regulatory priorities the NCUA will focus on, including delinquency management, loan loss reserves, stablecoins, and AI and automation policies
✅ How the housing market, unemployment rate, and inflation rate interconnect to shape the overall economic outlook for credit unions
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 2026 predictions episode discussing credit union industry forecasts and Fed rate and interest rates predictions, with expectations of rates dropping to 3-3.25%
01:42 Treasury rates and mortgage rates outlook, analyzing the impact on credit union lending and the housing market
03:10 Inflation rate forecast at 2.5% with discussion of tariffs and unemployment rate effects on economic stability
04:25 Commercial lending growth predictions and commercial real estate refinancing opportunities amid rising delinquency trends
06:29 Discussion of the NCUA board, the rising delinquency numbers, and the abuse of AI
10:15 Let’s talk football
KEY TAKEAWAYS:
✅ Federal Reserve leadership changes will drive fed rate policy toward 3% by year-end, creating refinancing opportunities for loans originated in 2024 at higher rates
✅ Rising delinquency rates will trigger stricter NCUA oversight on loan loss reserves and accounting practices, while AI and automation regulation emerges as a new compliance focus area
✅ Commercial real estate distress will create a "greater fool" refinancing market where credit unions can acquire loans at significant discounts after original lenders absorb losses
ABOUT THE GUEST:
Jeff Lyons - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Lending, Interest Rates, Inflation, Fed Rate, Treasury Rates, Commercial Lending, Delinquency, NCUA, AI And Automation, Mortgage Rates, Commercial Real Estate, Federal Reserve
In this episode of Credit Union Conversations, host Mark Ritter sits down with Gord Baizley, Co-Founder and CEO of Judi.ai, to explore why small business lending remains one of the greatest untapped opportunities for credit unions—and how technology is finally making it scalable.
Gord shares his unique career journey from law and investment banking to leading high-growth technology companies, including Judi.ai, a platform purpose-built to simplify and modernize small business lending. The conversation breaks down why small businesses are consistently underserved by traditional financial institutions despite representing a massive share of the economy—and why credit unions are uniquely positioned to close that gap.
Mark and Gord dive into the cultural, regulatory, and operational barriers that have historically slowed small business lending at credit unions. They discuss how outdated underwriting expectations, CRE-centric credit culture, and manual processes have made small business lending feel complex and costly. Gord explains how predictive AI, real-time cash flow data, and automation are reshaping underwriting—allowing credit unions to treat small business lending more like consumer credit cards than commercial real estate.
The episode also compares U.S. and Canadian banking systems, highlights the importance of executive buy-in, and reinforces why small business owners are “relationship unicorns” for credit unions—bringing deposits, loans, mortgages, and long-term loyalty.
This episode is essential listening for credit union leaders, lenders, and executives looking to grow relationships, diversify loan portfolios, and compete effectively with fintech lenders.
What You Will Learn in This Episode:
✅ Why small business lending should be treated as its own segment, not lumped into consumer or commercial lending.
✅ How predictive AI and real-time cash flow data can dramatically reduce underwriting friction and improve risk management.
✅ What’s holding credit unions back from small business growth, and how to move it higher on the strategic priority list.
✅ Why small business owners are among the most valuable long-term relationships a credit union can build.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Welcome to Credit Union Conversations: Gord Baizley’s career journey: law, finance, and tech
03:05 What Judi.ai does and why small businesses are underserved
04:03 Predictive AI vs. generative AI in lending
06:00 Banking in Canada vs. the U.S.
08:43 Why credit unions focus on CRE instead of small business
09:22 Rethinking risk: small business vs. consumer credit
10:15 Automation, open banking, and real-time cash flow data
13:32 Regulatory shifts supporting cash flow lending
14:33 Ideal credit unions for small business growth
16:45 Treating small business as its own segment
17:27 Why small business owners are “relationship unicorns”
19:10 The biggest barriers to getting started
21:00 Executive buy-in and strategic ownership
23:00 The future outlook for credit unions
25:12 How to connect with Gord and Judi.ai
KEY TAKEAWAYS:
- Small business lending is a relationship growth engine, not just a loan product.
- Credit unions often apply the wrong risk lens to small business lending.
- Technology has removed the biggest historical barriers from small business lending.
- Credit unions are uniquely positioned to win this market.
ABOUT THE GUEST:
Gord brings a broad range of financial, legal, and operational experience to JUDI.AI. He began his career in investment banking and corporate law. Subsequently, he held executive positions (CFO, CSO and COO) in two of Canada’s fastest-growing technology companies during the past two decades (which reached #1 and #5 on the Deloitte Fast 50 list). Gord enjoys the excitement and challenges that come with hyper-growth, and brings significant experience in scaling technology businesses to the JUDI.AI team, along with financial services expertise that contributes to the company’s product and go-to-market strategies.
Gord has a BA from the University of Western Ontario and an LLB/MBA from the University of British Columbia. He is called to bar in British Columbia and is a CFA charter holder. He previously served on the Board of Directors of the Dr. Peter Aids Foundation, including serving as the chair of the foundation’s development committee.
Gord Baizley - Judi.AI Website
Gord Baizley - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Service Organizations, Credit union podcast marketing, Small business lending for credit unions, Credit union small business strategy, AI underwriting for small businesses, Cash flow lending credit unions, Predictive AI in financial services, Credit union fintech partnerships, Relationship-based lending, Underserved small business financing
Credit union predictions take center stage as Mark Ritter hosts Jeff Lyons on Credit Union Conversations to review their 2025 forecasts. The MBFS leaders analyze their interest rate forecasts, NCUA board changes, and tariff-negotiation predictions with a candid self-assessment. Throughout this engaging review, they explore Federal Reserve rate cuts, consumer lending trends, commercial lending stability, and the challenges facing credit unions in the auto loan market as vehicle prices surpass $50,000. They examine the accuracy of housing market forecasts and the outcomes of budget deal negotiations, while acknowledging mixed results in their prognostication.
WHAT YOU WILL LEARN IN THIS EPISODE:
✅ How NCUA board changes and Supreme Court cases continue to impact credit union regulatory oversight, with the FTC lawsuit setting precedent for future administrative decisions affecting the credit union industry.
✅ Why the auto loan market faces unprecedented challenges as average new vehicle prices exceed $50,000, causing consumers to hold vehicles longer and fundamentally shifting credit union business strategies.
✅ The accuracy of inflation predictions and credit card delinquency forecasts, including how CPI data at 2.7% contradicts consumer experiences of rising costs in everyday purchases.
✅ How commercial lending stability diverged from consumer lending trends in 2025, creating a bifurcated lending environment that requires different strategic approaches for credit unions.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Mark Ritter and Jeff Lyons review their year-end credit union predictions for 2025 and discuss their accuracy
00:38 NCUA board changes discussion covering the firing of Democratic board members and predictions about Supreme Court cases impacting regulatory authority
01:33 Interest rate forecasts review, revealing they missed by 25 basis points and tariff negotiations analysis examining how tariffs became a negotiating tool
07:07 Auto loan market and consumer lending trends, highlighting the average cost of a vehicle and the lending environment affecting credit union business
09:06 Discussion of credit card debt to be determined in February and March, and some football talk: Penn State and Rutgers
KEY TAKEAWAYS:
💲Tariff negotiations proved to be primarily a negotiating tool rather than a permanent policy, with initial concerns about widespread economic impact diminishing by year-end as countries eagerly negotiated with the U.S., validating the prediction that tariff discussions would fade from headlines.
💲Budget deal negotiations successfully extended and codified existing tax rate extensions rather than allowing rates to sunset, demonstrating how political necessity drives compromise even in divided government scenarios. However, healthcare insurance rates remain unresolved heading into the new year.
💲Housing market forecast accuracy was mixed as hot markets experienced price corrections while other areas remained stable.
ABOUT THE GUEST:
Jeff Lyons - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Predictions, Interest Rate Forecasts, NCUA Board Changes, Tariff Negotiations, Federal Reserve Rate Cuts, Consumer Lending Trends, Commercial Lending Stability, Auto Loan Market, Housing Market Forecast, Budget Deal Negotiations, Credit Union Industry, Vehicle Prices, Credit Union Business, Inflation Predictions, Credit Card Delinquencies, Credit Union Industry Predictions and Year-End Review
In this episode of Credit Union Conversations, host Mark Ritter speaks with Josh Rodriguez of West Community Credit Union about authentic community engagement, storytelling through podcasting, and the evolving role of credit unions in a competitive financial landscape.
Josh shares his 20+ year journey in the credit union industry—from phone teller to President & CEO of a small credit union, and now serving in one of the industry’s most unique roles: Assistant Vice President of FinTech and Mission Integration. He reflects on the challenges of leading a small credit union, the difficult but member-focused decision to merge, and how West Community Credit Union has embedded “people helping people” into its culture through hands-on community involvement.
The conversation explores why traditional marketing tactics often fall flat and how audio storytelling and podcasting can help credit unions emotionally connect with members and communities. Josh breaks down West Community’s Banking On You Podcast, a narrative-driven audio series that highlights real community impact rather than products or promotions.
Mark and Josh also discuss small credit union survival strategies, the realities of fintech partnerships, and why community engagement must go beyond check-writing and photo ops. This episode is a must-listen for credit union leaders, marketers, and executives looking to strengthen community trust, modernize outreach, and tell their story more effectively.
What You Will Learn in This Episode:
✅ How credit unions can use storytelling and podcasting to build trust, emotional connection, and brand relevance beyond traditional financial marketing.
✅ What small credit union leaders must consider when facing sustainability challenges, including when a merger may be the most member-focused decision.
✅ Why authentic, hands-on community engagement matters more than surface-level philanthropy and how it strengthens long-term relationships.
✅ How fintech innovation can coexist with mission-driven values, allowing credit unions to modernize without losing their “people helping people” identity.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Welcome to Credit Union Conversations
01:14 Meet Josh Rodriguez
05:16 Life lessons from running a small credit union
07:20 Deciding to merge: putting members and staff first
09:41 West Community Credit Union’s mission and community focus
11:00 Active engagement vs. check-writing philanthropy
13:43 Why credit unions should invest in podcasting
15:44 Audio storytelling and the Banking On You Podcast
19:05 Why credit unions struggle to tell their story
22:33 Josh’s role: FinTech & Mission Integration explained
26:03 Advice for small credit unions today
29:18 Rethinking community involvement
30:00 Where to find Josh and West Community Credit Union
KEY TAKEAWAYS:
✅ Authentic storytelling is a strategic advantage for credit unions. Members connect more deeply with real stories than product-driven messaging. Through podcasting and audio storytelling, credit unions can highlight real community impact, humanize their brand, and differentiate themselves in an increasingly crowded financial services landscape.
✅ Podcasting creates emotional connection at scale. Unlike ads or social posts, podcasts allow credit unions to slow down, go deeper, and engage listeners in meaningful conversations. Josh shares how West Community Credit Union’s Banking On You Podcast focuses on community narratives rather than promotions—building trust and credibility over time.
✅ Small credit unions must clearly define their niche to survive. Josh reflects on his experience leading a small credit union and the difficult decision to merge. He emphasizes that success for smaller institutions depends on focus, adaptability, and a willingness to make tough decisions that prioritize members and staff over ego or tradition.
✅ Community engagement must go beyond writing checks. True engagement requires showing up, listening, and participating consistently—not just sponsoring events for visibility. Josh challenges credit unions to move past transactional philanthropy and toward relationship-driven involvement that aligns with their mission.
✅ Fintech and mission alignment are not mutually exclusive. In his role overseeing FinTech and Mission Integration, Josh highlights how technology can enhance service delivery while reinforcing—not replacing—the credit union’s values. Strategic fintech partnerships should support accessibility, efficiency, and member experience without compromising purpose.
ABOUT THE GUEST:
Josh Rodriguez LinkedIn
Banking On You Podcast
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Service Organizations, Credit union community engagement, Credit union podcast marketing, Storytelling in financial services, Small credit union strategy, Credit union fintech partnerships, Mission-driven credit unions, Credit union mergers and leadership, Community-focused financial institutions
Commercial real estate lending saw unprecedented growth in 2025, defying expectations. In this episode of Credit Union Conversations, host Mark Ritter sits down with Kristina Paulson to explore the dramatic 30% increase in loan volume despite persistently high interest rates. They discuss evolving debt service coverage ratio requirements, the impact of rate resets on existing portfolios, and creative loan restructuring strategies. Kristina shares insights on commercial loan underwriting challenges, softening office building markets, and property values holding steady across most sectors. The conversation offers a critical perspective on credit union lending portfolio management and what commercial real estate market trends to expect in 2026. Stay tuned at the end to hear their favorite Christmas traditions.
WHAT YOU WILL LEARN IN THIS EPISODE:
✅ How credit unions managed a surprising 30% surge in loan volume throughout 2025, despite high interest rates and why similar lending trends are expected to continue into 2026.
✅ Why debt service coverage ratio minimums have increased from 1.20 to 1.25 across the industry, and how commercial loan underwriting standards have become more meticulous due to rising insurance, utilities, and operating expenses.
✅ Which commercial real estate sectors face the most significant risk, particularly office buildings experiencing rate resets from low-interest loans originated in 2020-2021, and what creative loan restructuring strategies are emerging?
✅ How property values are holding steady in most markets, while credit union portfolio managers must monitor existing loans more carefully as higher expenses impact DSCR requirements and risk ratings.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 2025 commercial real estate lending trends, MBFS growth, the unexpected surge in loan volume
03:04 Interest rates reality check: Why predicted rate drops never materialized and how borrowers adapted to the higher rate environment for commercial loans
06:01 Debt service coverage ratio challenges: Rising DSCR requirements, increased scrutiny on insurance, utilities, and operating expenses in commercial loan underwriting
08:02 Property values holding steady, loan amounts decrease to maintain the debt service coverage ratio, and troubled commercial real estate loans as they roll over for refinancing in 2026-2027
10:39 Holiday traditions discussion: Kristina shares family Christmas celebrations, decorating, baking cookies, and extended family gatherings on Christmas Eve
12:26 Childhood Christmas memories: for the Paulson and Ritter families
KEY TAKEAWAYS:
💲Commercial real estate lending volume increased over 30% in 2025 across the industry, requiring credit unions to rapidly expand their teams despite initial expectations of a flat year, with similar loan volume anticipated for 2026.
💲Debt service coverage ratio standards have tightened industry-wide, with minimum requirements rising from 1.20 to 1.25 as lenders account for inflation's impact on insurance, utilities, and operating expenses in commercial loan underwriting decisions.
💲The most significant portfolio risks exist in office buildings and larger metropolitan markets where rate resets from ultra-low 2020-2021 loans are creating coverage challenges, requiring creative loan restructuring or property conversions to alternative uses like apartments.
ABOUT THE GUEST:
Kristina Paulson - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Commercial Real Estate Lending, Credit Union Conversations, Mark Ritter, Loan Volume, Interest Rates, Debt Service Coverage Ratio, Rate Resets, Loan Restructuring, Commercial Loan Underwriting, Office Buildings, Property Values, Commercial Real Estate Market, Debt Service Coverage Ratio Requirements For Commercial Loans
Credit Union Service Organizations are evolving rapidly, and NACUSO's new CEO, Randy Salser, discusses the future of CUSO collaboration in this episode of Credit Union Conversations with host Mark Ritter. Salser shares insights on credit union innovation, the critical 1% capital rule restricting CUSO investments, and NACUSO's advocacy efforts on Capitol Hill. The discussion covers member business lending, fintech partnerships, and how credit unions can leverage CUSO’s to gain a competitive advantage. Salser emphasizes that collaboration remains the credit union movement's superpower, highlighting upcoming initiatives, including the reimagined NACUSO conference and regional roundtables to foster year-round credit union networking.
What You Will Learn in This Episode:
✅ How the 1% capital rule restricts credit union investments in CUSOs and limits stablecoin opportunities, member business lending initiatives, and other CUSO activities that could help credit unions compete with larger financial institutions.
✅ NACUSO's advocacy strategy focuses on CUSO model protection, third-party vendor oversight, and collaborating with America's Credit Unions and DCUC to address regulatory challenges while playing both offense and defense on Capitol Hill.
✅ The reimagined NACUSO conference format features intentional tracks, educational content on CUSO formation, regional roundtables, and collaborative networking opportunities that extend credit union engagement beyond annual events.
✅ How credit union collaboration through CUSOs enables innovation, risk mitigation, and scale that individual institutions struggle to achieve alone, with opportunities for credit unions, CUSOs, and fintechs to partner strategically.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Randy Salser, new NACUSO CEO, explains the history and how credit union collaboration through the CUSO model drives credit union innovation over 40 years
03:39 Randy shares his professional background
06:10 NACUSO advocacy on Capitol Hill addressing the 1% capital rule, Genius Act, stablecoins, and member business lending restrictions
13:02 April 2026 reimagined NACUSO conference in Orlando featuring educational tracks on CUSO formation, regional roundtables, and credit union networking
16:20 Randy shares his vision for the future of the CUSO
22:30 Credit union industry consolidation from 14,000 to 4,400 institutions and evolution of trade associations navigating CUSO complexity with fintechs and private equity
KEY TAKEAWAYS:
✅ The arbitrary 1% capital rule severely limits credit union investment capacity across ALL CUSO activities collectively—from stablecoins to insurance to member business lending—preventing credit unions from competing with mega players like Coinbase, Amazon, and Meta in emerging financial services.
✅ NACUSO is transforming from an annual event organization into a year-round credit union community platform with regional roundtables, modern educational resources, webinars, and collaborative opportunities that connect credit unions, CUSOs, and fintechs for strategic partnership development.
✅ Credit union industry consolidation — from 14,000 to 4,400 institutions — demands that trade associations deliver speed, clarity, and actionable data while cutting through complexity. NACUSO's unique positioning focuses on CUSO-specific advocacy and collaborative innovation as the movement's competitive superpower.
ABOUT THE GUEST:
NACUSO - Website
Randy Salser - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Service Organizations, NACUSO, Credit Union Innovation, Member Business Lending, Fintech Partnerships, NACUSO Conference, Credit Union Networking, Capital Rule, Stablecoin, America's Credit Unions, CUSO Formation, Randy Salser, Credit Union Leadership, CUSO Innovation
Annual reviews of commercial lending take center stage as Mark Ritter hosts Kristina Paulson on Credit Union Conversations. This MBFS Quick Hits episode tackles year-end commercial loan annual reviews and the persistent debate over K-1 documentation. Kristina, AVP of Credit Services at MBFS, shares practical strategies for managing unresponsive borrowers and explains why tax return analysis alone isn't sufficient. The conversation explores improvements to the credit analysis process, portfolio risk assessment techniques, and how commercial loan policy updates can reduce low-value activities. Learn why cash flow calculation requires K-1 forms and discover relationship-building opportunities hidden within the annual review process.
WHAT YOU WILL LEARN IN THIS EPISODE:
✅ How to handle uncooperative borrowers during the annual review season, including escalation strategies like formal demand letters and default rate implementation when borrower financial statements aren't provided.
✅ Why K-1 forms are essential for accurate cash flow calculation and how they reveal distributions and contributions that standard tax returns cannot show, making them critical for proper credit analysis.
✅ How to update your commercial lending compliance policies to focus resources on high-risk loans rather than reviewing every small business loan in your portfolio, improving efficiency while maintaining regulatory standards.
✅ How annual reviews create sales opportunities to identify needs like lines of credit or refinancing options while monitoring portfolio health and strengthening business services relationships.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Kristina shares her commercial lending career path and role as AVP of Credit Services at MBFS
03:12 Year-end annual review challenges and common borrower communication issues discussed
05:15 Red flags when borrowers avoid providing financial statements and potential underlying problems
06:05 Enforcement strategies and why credit unions must establish consequences for non-compliance and sales opportunities within annual reviews, including lines of credit and refinancing options
09:01 Commercial loan policy updates to focus on high-risk loans versus low-value activities
10:54 K-1 documentation importance explained, and why tax returns alone are insufficient for cash flow analysis
KEY TAKEAWAYS:
✅ Unresponsive borrowers during annual review season often signal deeper financial problems—lack of cooperation after multiple attempts should trigger escalation, including formal demand letters and potential default rates to enforce loan agreement requirements.
✅ K-1 forms are non-negotiable for accurate commercial lending analysis because they reveal distributions and contributions that impact cash flow, information that standard tax returns simply cannot provide to lenders.
✅ Modern commercial loan policies should be risk-based rather than reviewing every loan—focus credit analyst resources on larger, higher-risk transactions. In contrast, smaller loans, such as vehicle financing, require minimal oversight for efficient portfolio management.
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
MBFS Website
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Annual Reviews, Commercial Lending, Commercial Loan Annual Reviews, K-1 Documentation, Tax Return Analysis, Credit Analysis Process, Portfolio Risk Assessment, Commercial Loan Policy, Cash Flow Calculation, Default Rate, Borrower Financial Statements
Today on Credit Union Conversations, Mark Ritter sits down with Bryan Doxford of Grow America to discuss innovative approaches to supporting small businesses, affordable housing, and underserved communities. Bryan shares insights into the mission-driven work of Grow America, including its role in providing capital through SBA loans, new market tax credits, and low-income housing initiatives. Bryan highlights how Grow America partners with credit unions, CDFIs, and community organizations to bridge funding gaps, offer economic development training, and help businesses access the capital they need to thrive.
They also delve into the current state of Certified Development Financial Institutions (CDFIs), exploring trends in consolidation, grant reliance, and self-sufficiency. Bryan underscores the importance of collaboration, both between mission-aligned organizations and with credit unions, to maximize impact in underserved communities. From small business lending to affordable housing and workforce development, this episode provides actionable insights for credit unions and community-focused organizations seeking to expand their impact.
What You Will Learn in This Episode:
✅How Grow America (formerly NDC) drives community impact
✅The evolving landscape of CDFIs
✅The national housing shortage & affordability crisis
✅How credit unions and CDFIs can partner for greater impact
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Introduction
01:00 Bryan Doxford’s career journey: from credit unions to SBA lending
07:00 About Grow America’s mission and programs
09:00 Explanation of new market tax credits
11:00 Current state and future of CDFIs
17:100 Affordable housing initiatives and impact
21:00 Training programs and community partnerships
24:00 Access to capital and client community examples
25:00 How credit unions can collaborate with Grow America
KEY TAKEAWAYS:
💎Grow America partners with credit unions and CDFIs to provide access to SBA and non-SBA business loans, bridging capital gaps in underserved communities.
💎The future of CDFIs may involve strategic consolidation and increased self-sufficiency, balancing grant reliance with sustainable operations.
💎Affordable housing initiatives, new market tax credits, and technical training programs are critical tools for driving economic development nationwide.
ABOUT THE GUEST:
Bryan Doxford is a finance and community development expert with over 20 years of experience working with credit unions, banks, and SBA lending programs. Currently leading lending initiatives at Grow America, Bryan focuses on expanding access to capital, affordable housing, and economic development in underserved communities across the U.S.
Grow America Website
Bryan Doxford LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Youth Banking, Family Banking, Digital Banking, How To Money Management, Parental Controls, Banking Education, Teach Kids About Money Using Banking Apps, Chores And Allowance, Financial Literacy, Mobile Banking Apps, Debit Cards For Kids, Bocoup, Beaucoup Youth Banking Program
Central Pennsylvania tourism offers incredible experiences beyond the well-known cities of Pittsburgh and Philadelphia. In this episode of Credit Union Conversations, host Mark Ritter welcomes back Steve Young of MBFS to explore the region's hidden treasures. From the historic Gettysburg Battlefield to the sweet delights of Hershey, Pennsylvania, they discuss why this area deserves recognition as one of America's untapped vacation destinations. The conversation covers Lancaster County attractions, including the renowned Sight and Sound Theater, charming Lititz, and authentic Amish experiences. They also highlight Carlisle Car Shows, Knoebels Amusement Park, and local favorites such as Caledonia State Park, making a compelling case for the best family vacation spots in central Pennsylvania that offer exceptional value and memorable experiences.
What you will learn from this episode:
✅ Discover why Central Pennsylvania tourism offers exceptional value compared to major theme parks, with destinations like Knoebels Amusement Park providing free admission, affordable food, and beautiful natural settings.
✅ Explore the rich history and modern attractions of Gettysburg Battlefield, Hershey, Pennsylvania, and Lancaster County attractions, including world-class entertainment at the Giant Center in Hershey, authentic Amish experiences, and the charming town of Lititz, Pennsylvania.
✅ Learn about unique Central Pennsylvania experiences from Carlisle Car Shows that draw collectors nationwide to Pennsylvania State Parks like Caledonia State Park, plus hidden culinary gems, including Northeast Pennsylvania pizza and local Pennsylvania wineries.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Mark welcomes Steve Young from MBFS to discuss hidden tourist gems between Pittsburgh and Philadelphia
02:20 Steve shares how the Gettysburg Battlefield took on deeper meaning for him through a leadership class exploring Civil War communication and strategy
03:39 Discussion of Hershey, Pennsylvania, featuring Chocolate World, Giant Center Hershey concerts, outlet shopping, and Trans-Siberian Orchestra performances
05:24 Exploring Lancaster County attractions, including Lititz, Pennsylvania, Sight And Sound Theater, Amish Country, and accessibility from major metropolitan areas
08:23 Steve Young discusses his yellow Corvette and how Carlisle Car Shows draw collectors nationwide
10:25 Discussion of the benefits of Knoebels Amusement Park over other amusement parks and the Caledonia State Park
KEY TAKEAWAYS:
✅ Central Pennsylvania tourism offers exceptional value with attractions like Knoebels Amusement Park providing free admission and parking. At the same time, Lancaster County sits within two hours of New York, Washington, and Philadelphia, making it an ideal, affordable family destination.
✅ The region features diverse experiences from historic Gettysburg Battlefield and Pennsylvania wineries to world-class entertainment at the Giant Center in Hershey, including concerts and sporting events in a state-of-the-art venue.
✅ Hidden treasures include Northeast Pennsylvania pizza, fresh Amish Country baked goods, and scenic Pennsylvania State Parks like Caledonia State Park.
ABOUT THE GUESTS:
Steve Young - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, QSO, Central Pennsylvania tourism, Gettysburg Battlefield, Hershey, Pennsylvania, Lancaster County attractions, Carlisle Car Shows, Knoebels Amusement Park, best family vacation spots in central Pennsylvania, Giant Center Hershey, Lititz, Pennsylvania, Caledonia State Par
Youth banking is transforming how credit unions engage families and prepare the next generation for financial success. In this episode of Credit Union Conversations, host Mark Ritter sits down with Alexey Krasnoriadtsev, CEO and co-founder of boucoup, to explore innovative family banking solutions that are changing the game for credit unions. Alexey shares his remarkable journey from Soviet-era Belarus to becoming a fintech entrepreneur in Austin, Texas, and explains why digital banking tools for kids and teens are no longer optional—they're essential. The conversation reveals how to teach kids about money using banking apps through practical features like parental oversight, chores and allowance tracking, and even simulated loans that build real-world financial literacy.
What You Will Learn in This Episode:
✅ How youth banking programs have evolved from money-losing initiatives to profitable opportunities for credit unions, with kids now holding $800-$1,500 in deposits and generating full asset yields on no-cost accounts.
✅ Why family banking tools with parental controls, money management features, and digital chores and allowance systems are essential for teaching financial literacy in a cashless society, where kids need cards earlier than ever before.
✅ The critical mistakes credit unions make during digital banking implementation, including inadequate testing of edge-case scenarios and a lack of proper project planning that leads to production problems.
✅ How innovative banking education features like parent-supervised loans with interest and late fees help teens experience real-world financial concepts like amortization before entering adulthood.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Intro: The 25-year challenge credit unions face in attracting young people, and a conversation about youth banking solutions
03:17 Alexey Krasnoriadtsev shares his origin story, from Soviet-era Belarus to America, working as a dishwasher and theme park cleaner before founding his mobile banking app company
10:30 Banking On solves a California credit union's digital banking crisis, transforming thousands of one-star reviews into five-star ratings through API-connected mobile banking apps
13:32 Boucoup, the family banking concept, explains how financial literacy tools help parents supervise kids' spending through chores and allowance, loans, and kid debit cards
26:22 Critical advice on credit union innovation implementation, emphasizing the importance of comprehensive testing, project planning, and quality assurance
KEY TAKEAWAYS:
✅ Youth banking is now a profitable strategy—today's cashless society means kids need cards early, resulting in average deposits of $800 for 13-year-olds and $1,500 for 17-year-olds, generating full 4% asset yields on no-cost accounts.
✅ Family banking tools create emotional bonds and practical financial literacy through features like peer-to-peer transfers with photos, digital chores and allowance tracking, and parent-supervised loans with interest rates and late fees that teach real-world financial concepts.
✅ Successful digital banking implementation requires comprehensive testing. Credit unions must demand detailed project plans, test 60+ edge-case scenarios with multiple accounts, and invest in quality assurance before production launch.
✅ Member engagement with the next generation starts with solving parent pain points—giving kids supervised debit cards instead of credit cards creates sticky family banking relationships where entire households bank together at one institution.
ABOUT THE GUEST:
CEO @ boucoup - super-charged youth banking platform
Boucoup - Website
Alexey Krasnoriadtsev - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Youth Banking, Family Banking, Digital Banking, How To Money Management, Parental Controls, Banking Education, Teach Kids About Money Using Banking Apps, Chores And Allowance, Financial Literacy, Mobile Banking Apps, Debit Cards For Kids, Bocoup, Beaucoup Youth Banking Program
Commercial lending negotiations require a different approach than consumer lending in credit unions. In this episode of Credit Union Conversations, host Mark Ritter talks with Steve Young, veteran relationship management professional at MBFS, about the art of business lending. Steve shares his journey from baseball to becoming a trusted advisor in the credit union space. They explore key differences between consumer and commercial lending, including interest rate negotiations, collateral requirements, and loan covenants. Steve emphasizes being genuine and responsive while building member relationships in credit union business lending, matching deals with appropriate credit unions, and explaining why documentation matters in every transaction.
WHAT YOU WILL LEARN IN THIS EPISODE:
✅ How commercial lending negotiations differ from consumer loans, including the importance of loan structuring, collateral requirements, and loan covenants, rather than focusing solely on interest rates.
✅ Strategies for effective relationship management as a commercial loan officer, including being chameleon-like with different business types and serving as a trusted advisor to credit union members.
✅ Best practices for portfolio management and risk assessment, including why former collectors make excellent lenders and how to properly document terms and conditions throughout the lending process.
✅ Techniques for matching business lending opportunities with the right credit unions based on their culture, risk tolerance, lending areas, and membership requirements.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Intro: Meet Steve Young and learn how commercial lending negotiations differ from standardized consumer loan processes in credit unions
01:30 Steve’s career journey from minor league baseball with the Dodgers to becoming a commercial loan officer, and how he learned business lending fundamentals
05:00 Steve explains his role as a relationship manager at MBFS, serving multiple credit unions while working with brokers on commercial real estate deals
07:23 Discussion of "membership bingo" and matching deals to appropriate credit unions based on their risk tolerance, lending preferences, and portfolio management strategies
09:28 The importance of looking beyond interest rate negotiations to include loan covenants, collateral requirements, personal guarantees, and proper documentation in loan structuring
KEY TAKEAWAYS:
💲Former collectors make excellent commercial loan officers because they've seen deals go from good to bad and heard all the stories, making them better at risk assessment and understanding the importance of proper loan structuring from the start.
💲Commercial lending negotiations should focus on the total loan package, not just interest rates. Consider loan covenants, collateral requirements, personal guarantees, and release schedules to create a comprehensive deal structure.
💲Being a trusted advisor means matching the right deals with the right credit unions based on their specific lending preferences, asset classes, and membership requirements rather than forcing ill-fitting deals.
ABOUT THE GUESTS:
Steve Young - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Commercial Lending Negotiations, Relationship Management, Business Lending, Interest Rate Negotiations, Building Member Relationships In Credit Union Business Lending Communities, Loan Structuring, Collateral Requirements, Loan Covenants, Commercial Loan Officer, Trusted Advisor, Risk Assessment, Commercial Loan Officer
Gen Z banking preferences take center stage as Mark Ritter, host of Credit Union Conversations, interviews his son Ethan Ritter, a University of Pittsburgh finance student. This episode explores what credit union membership means to younger consumers and reveals surprising insights about mobile banking apps and digital engagement. Ethan shares candid perspectives on financial technology expectations, explaining why online account opening capabilities are non-negotiable for his generation. The conversation challenges conventional wisdom about how to attract Gen Z members to credit unions through social media advertising, revealing that technology quality trumps traditional marketing approaches for younger consumers.
What You Will Learn in This Episode:
✅ Why mobile banking apps are the most critical factor for Gen Z banking customers, who prioritize app functionality over in-person branch visits and website experiences
✅ How credit unions can leverage financial technology and digital banking experience to attract younger members instead of relying on traditional member engagement strategies
✅ The truth about personalized marketing effectiveness with Gen Z consumers and why social media advertising may not deliver the results financial institutions expect
✅ Real insights into student banking behaviors, including common financial mistakes like sports gambling and food delivery services that impact young consumers' saving potential
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Introduction to Gen Z banking featuring Ethan Ritter
02:09 Ethan shares his educational background and his work in finance at both the university and a local credit union
05:19 Mobile banking apps versus in-person branch banking: Ethan explains why Gen Z banking customers see financial services as a transaction, not a relationship
08:30 Online account opening requirements and why requiring in-person visits causes younger consumers to choose different financial institutions
11:38 Gen Z consumers never discuss their banks or credit unions with peers, even among finance majors managing real investment portfolios
13:43 How Gen Z consumers waste money, discussion of cryptocurrency and home ownership
20:10 Technology-first strategy for credit unions to attract younger members: why financial technology quality matters more than rates or traditional member engagement
KEY TAKEAWAYS:
💰Gen Z banking customers rank app quality as their top priority—if they have to open a website or call someone, the financial institution has already failed to meet their expectations
💰Credit union membership isn't a topic of conversation even among financially savvy finance majors; younger consumers only consider switching institutions after major service failures
💰Personalized marketing through social media platforms like Instagram and TikTok doesn't resonate with Gen Z consumers for serious financial decisions, as they prefer researching options independently when needed
💰Credit unions must prioritize showcasing their financial technology and app capabilities over traditional messaging about rates and member care to attract younger members successfully
ABOUT THE GUESTS:
Ethan Ritter - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Gen Z Banking, Credit Union Membership, Mobile Banking Apps, Financial Technology, Online Account Opening, How To Attract Gen Z Members To Credit Unions, Digital Banking Experience, Member Engagement, Personalized Marketing, Gen Z Consumers, Financial Institutions, Student Banking
Insights on New York City travel by Credit Union Conversations host Mark Ritter and guest Azra Samiee reveal authentic experiences beyond typical tourist attractions. In this engaging episode, Mark shares his journey from small-town Pennsylvania to becoming a NYC enthusiast, while Azra, a 13-year Brooklyn resident, offers insider recommendations. Discover Brooklyn neighborhoods and restaurants guide favorites, including Red Hook's legendary burger at Red Hook Tavern and Steve's Key Lime Pie. Learn about convenient transportation options like the East River Ferry and City Bike NYC. From Comedy Shows to Chelsea Market, this conversation covers essential stops while avoiding overcrowded spots like Times Square.
What You Will Learn in This Episode:
✅ Navigate New York City like a local using Subway Navigation tips and alternative transportation options, including the East River Ferry and City Bike NYC system for exploring multiple boroughs efficiently.
✅ Discover authentic Brooklyn Attractions beyond the typical tourist path, including Dumbo Brooklyn, Red Hook Brooklyn, and Prospect Park, with insider dining recommendations from Thai Restaurants to legendary Pizza places in NYC.
✅ Plan the perfect Manhattan experience with expert guidance on NYC Steakhouses, Comedy Shows in New York, and cultural destinations like the Museum of Natural History and Chelsea Market while strategically avoiding overcrowded areas.
✅ Create memorable experiences combining food, entertainment, and sightseeing, from Broadway shows to waterfront sunsets, using local knowledge to maximize your visit to America's most dynamic city.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Mark’s personal journey discovering New York City as a first-time visitor at age 35
02:21 Discussion of subway navigation techniques and Mark's typical tourist routine visiting Manhattan destinations like Penn Station and Soho shopping areas, plus his love for NYC steakhouses
04:53 Azra recommends exploring Brooklyn attractions as the best way to experience authentic NYC, introducing transportation alternatives like City Bike NYC and the East River Ferry for accessing different boroughs
07:33 Detailed Brooklyn neighborhoods and restaurants guide covering Dumbo, Brooklyn and Red Hook, Brooklyn, featuring Steve's Key Lime Pie shop, Red Hook Tavern's famous burger, and Littlefield Comedy Shows
11:20 Discussion of NYC entertainment venues, including the Comedy Cellar and the Stand for Comedy Shows New York, plus Broadway Shows recommendations and appreciation for Chelsea Market located in the historic Nabisco factory building
12:12 Final restaurant recommendations covering favorite Pizza Places NYC, Thai restaurants like Nourish Thai in Brooklyn, and Azra's role as tourism ambassador, concluding this New York City travel guide episode with holiday visit planning
KEY TAKEAWAYS:
✅ Brooklyn offers more authentic New York City experiences than typical Manhattan tourist spots, with neighborhoods like Dumbo, Brooklyn and Red Hook providing waterfront views, exceptional dining, and local charm away from crowded areas like Times Square.
✅ Transportation variety enhances your NYC visit. While Subway Navigation using Google Maps works for beginners, the East River Ferry offers scenic routes between boroughs. City Bike NYC provides an adventurous way to explore, though bike riding in the city requires confidence and aggressive navigation.
✅ Comedy shows in New York venues like the Comedy Cellar, the Stand, and Littlefield in South Brooklyn provide excellent entertainment alternatives to Broadway Shows, with shorter time commitments and more flexible scheduling for visitors who prefer not to commit to lengthy performances.
✅ Local food favorites span from NYC Steakhouses like Keen's to corner Pizza Places NYC offering $1.50 slices, Chelsea Market food halls, Steve's Key Lime Pie in Red Hook, and Thai Restaurants like Nourish Thai, proving that authentic dining experiences exist at every price point across all boroughs.
ABOUT THE GUESTS:
Azra Samiee - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, QSO, Subway Navigation, Dumbo Brooklyn, Red Hook Brooklyn, Prospect Park, Thai Restaurants, Pizza Places NYC, Manhattan, NYC Steakhouses, Comedy Shows New York, Museum Of Natural History, Broadway Shows
Credit union lending strategies take center stage as host Mark Ritter of Credit Union Conversations welcomes Erik Harwood from Sun East Federal Credit Union. Erik shares insights on navigating today's commercial lending landscape and adapting to the normalized liquidity management environment of 2025. The conversation explores innovative residential mortgage lending programs, including Sun East's pioneering 40-year fixed-rate mortgage programs for credit unions that address affordability challenges. Erik discusses loan portfolio growth tactics, pricing approaches in fluctuating interest rate environments, and the evolution of credit union lending strategies in competitive markets.
What You Will Learn in This Episode:
✅ How credit union lending strategies adapt to normalized liquidity management conditions after pandemic-era extremes, including balancing inventory costs with loan portfolio growth targets and strategic borrowing decisions for sustainable lending operations.
✅ Innovative residential mortgage lending solutions like 40-year fixed-rate mortgage programs for credit unions and community heroes programs that provide affordability programs for first responders, teachers, and medical professionals while maintaining sound underwriting standards.
✅ Essential commercial lending approaches, including the three-door loan pricing strategies philosophy that empowers borrowers with choices while protecting yields, plus navigating business loan program caps.
✅ Why treasury management services development is critical for credit unions to expand beyond real estate lending into business and asset-based lending, and how to evaluate FinTech partnerships and third-party originators through rigorous vendor management diligence.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Intro: Meet Erik Harwood from Sun East Federal Credit Union
03:30 The differences between community banks, large banks, and the local credit union, mainly focusing on commercial lending
11:06 Erik explains liquidity management challenges and discusses loan portfolio growth
12:58 Discussion of loan pricing strategies using the "three door" philosophy, car loans and interest rates
18:18 Erik details their residential mortgage lending programs, including the 40-year fixed-rate mortgage programs for credit unions
21:42 Discussion of business loan programs, treasury management services, business loan caps, and opportunities in real estate lending
KEY TAKEAWAYS:
💰Credit union lending strategies are normalizing in 2025 after years of extreme liquidity management challenges, with institutions finding a balance between deposit costs and lending opportunities while utilizing borrowed funds strategically for loan portfolio growth.
💰Sun East's innovative 40-year fixed rate mortgage programs for credit unions priced at parity with 30-year terms provide $220-$250 monthly payment relief, helping borrowers overcome debt-to-income ratios barriers while maintaining substantial risk mitigation through minimum credit scores and maximum LTV requirements.
💰The interest rate environment remains unpredictable, with treasury bond yields not correlating to federal funds rate cuts as expected, requiring lenders to adapt loan pricing strategies based on cost of funds rather than traditional Fannie Mae floating rates.
ABOUT THE GUESTS:
Sun East Federal Credit Union
Erik Harwood - LinkedIn
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO, Credit Union Lending Strategies, Commercial Lending, Liquidity Management, Residential Mortgage Lending, 40-Year Fixed Rate Mortgage Programs For Credit Unions, Loan Portfolio Growth, Interest Rates, Affordability Programs, Asset-Based Lending, Real Estate Lending, Business Loan Programs
Azra and Mark introduce Inclusiv's new business lending program for credit unions in New York state.
WHAT YOU WILL LEARN IN THIS EPISODE:
✅ How CDFI credit unions can launch or expand their small business lending programs through Inclusiv's eight-week Small Business Capital Initiative training that covers regulations, portfolio development, and community outreach strategies.
✅ The benefits of Inclusiv's loan participation marketplace for credit union small business lending, including how credit unions can buy or sell loans while Inclusiv co-invests to share both opportunity and risk with participating institutions.
✅ How the loan loss fund provides up to 20% guarantee on charged-off loan balances for community development credit unions engaged in the loan participation marketplace, helping reduce risk for both buyers and sellers.
✅ Strategies for credit union lending programs to strengthen their presence in local communities through effective small business technical assistance, marketing outreach, and building high-touch relationships with business lending members.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Introduction to credit union services and business lending solutions, including loan participations, SBA lending, and loan workouts for credit unions nationwide and Puerto Rico
01:26 Azra shares her career journey in community economic development and working with CDFI credit unions to expand financial inclusion for underserved communities
04:07 Discussion of the community outreach of credit unions, making them different from the banking industry
06:05 Overview of Inclusiv as a CDFI network supporting community development to help low and moderate-income communities achieve financial inclusion
08:33 Details on Inclusiv's Small Business Capital Initiative training program launching October 1st, an eight-week course for credit unions to serve small business loan programs
11:28 Explanation of Inclusiv's loan participation marketplace and loan loss fund, and the new Inclusiv Business Forward, helping CDFI credit unions expand small business lending
KEY TAKEAWAYS:
💰 Inclusiv's Small Business Capital Initiative training is an eight-week program designed for credit unions looking to start or expand their small business lending programs, covering everything from identifying community lending needs to navigating NCUA and SBA regulations with expert guidance.
💰 The loan participation marketplace allows CDFI credit unions to manage risk and strengthen liquidity through small business loans and mortgages, with Inclusiv co-investing alongside credit unions and offering a loan loss fund that provides up to 20% guarantee on charged-off balances.
💰 The new Inclusiv Business Forward program in New York State enables community development credit unions to purchase up to 35% of each small business loan, specifically targeting socially and economically disadvantaged entrepreneurs who have been historically excluded from affordable financial services.
💰 Success in credit union small business lending requires more than just loan products; it demands assertive outreach and marketing strategies, deep community engagement, and high-touch relationships that distinguish CDFI credit unions from traditional banks in serving underserved communities.
ABOUT THE GUESTS:
Azra Samiee - LinkedIn
Small Business | Inclusiv
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, QSO, Credit Union Small Business Lending, SBA Lending, Community Development Credit Unions, Small Business Loan Programs, Loan Participation Marketplace, CDFI Credit Unions, Financial Inclusion, Underserved Communities, Inclusiv, small business lending programs, community outreach strategies
“We don't do agricultural lending." That's the common phrase uttered across America, but why? Phil Love, the leader of Pactola, and Mark Ritter delve into the benefits of agricultural lending, how to approach it, and the advantages for lenders.
WHAT YOU WILL LEARN IN THIS EPISODE:
✅ How agricultural lending empowers credit unions to support small businesses in farming communities.
✅ The role of credit unions in providing operating lines of credit and real estate loans for sustainable local food production.
✅ Key challenges and opportunities in agriculture lending, including navigating commodity markets and risk management.
✅ How credit union agricultural lending strengthens rural communities and supports America’s food supply.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Phil’s role at Pactola, a credit union service organization focused on agricultural lending, and describes his farming activities, including harvesting honey
06:48 Phil explains the three types of agricultural lending: real estate loans, equipment loans, and operating lines
09:48 Discussion on how credit unions in rural communities can leverage credit union agricultural lending to support farming as community banks consolidate
11:56 Phil outlines the challenges in agricultural lending, including assessing small business balance sheets, succession planning, and external risks such as commodity markets and weather
17:45 Discussion of beef prices, carryover debt, the One Big Beautiful Bill, inflation, interest rates and oil prices
KEY TAKEAWAYS:
💰 Agricultural lending boosts small farming businesses, helping credit unions fund local food production.
💰 Credit unions use operating lines of credit and real estate loans to support rural communities through agricultural lending.
💰 Credit union agricultural lending mitigates risk management challenges for farming operations.
💰 Farmer Mac and crop insurance enhance agricultural lending for sustainable local food systems.
ABOUT THE GUESTS:
Pactola - Website
Phil Love - Email
Phone 605-223-5154
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, CUSO Agricultural Lending, Small Business, Farming, Local Food, Rural Community, Farm Credit, Commercial Banks, Equipment Loans, Farmer Mac, Community Banks, Crop Insurance, Commodity Markets
Are you ready to revolutionize your Credit Union with cutting-edge AI? How can Pankaj Jain's expertise in technology and entrepreneurship transform your digital lending?
Welcome to Credit Union Conversations, where we unpack the future of finance with industry trailblazers. Join host Mark Ritter as he dives deep with Pankaj Jain, exploring AI innovations from Synaptic to Algebrik, building trust amid legacy systems, and overcoming fear through continuous learning to attract Gen Z credit union members. Pankaj Jain, a serial entrepreneur whose journey from India to the heart of New York has fueled game-changing tech for credit unions, shares insights on innovation, relationship-building, and staying ahead in a rapidly evolving world. Whether you're navigating digital transformation or seeking growth strategies, this episode is packed with actionable wisdom. Let's dive in!
IN THIS EPISODE:
- (00:00) Intro: Meet Pankaj
- (03:13) Pankaj describes his early entrepreneurship and his drive for Technology
- (04:57) Pankaj recounts moving to New York and pivoting Synaptic to serve Credit Unions
- (08:10) Algebrik, started in August 2024, to build Digital ecosystems for Credit Unions
- (13:50) Pankaj shares what he has learned over the years and emphasizes Trust as key in Credit Unions, built through consistent engagement
- (19:27) Reflecting on AI discussions in 2014, before ChatGPT, facing cynicism but building credibility for Synaptic’s technology
- (29:14) Pankaj advocates digital tools to attract younger generations to the credit unions
- (34:35) Pankaj stresses the democratization of AI Technology to avoid mergers and maintain charters
- (39:55) Pankaj suggests the importance of education and learning about current and future technology
KEY TAKEAWAYS:
- AI and digital technology are critical for credit unions to modernize lending, reduce reliance on legacy systems, and attract younger members by meeting them on mobile platforms with seamless, paperless processes.
- Building trust through consistent, personal engagement is essential for entrepreneurship in the credit union space, as Pankaj Jain demonstrates with Synaptic and Algebrik, emphasizing relationships over transactional sales.
- Overcoming the fear of change through continuous learning enables credit unions to adopt AI solutions, as Pankaj Jain advocates, ensuring that smaller institutions can compete and grow without merging, thereby preserving their mission and charter.
RESOURCE LINKS:
Mark Ritter - Website
Mark Ritter - LinkedIn
Pankaj Jain - LinkedIn
Algebrik AI - Website
Pankaj LD Jain - Website
Contact Pankaj
BIOGRAPHIES:
PJ is the Founder and CEO of Algebrik. Algebrik, headquartered in New York City, is the world's 1st cloud-native, AI-powered digital-era Loan Origination Platform (LOS), designed for the next generation of members/consumers.
KEYWORDS: AI, Credit Unions, Pankaj Jain, Technology, Entrepreneurship, Travel, New York, Synaptic, Algebrik, Digital, Lending, Members, Trust, Legacy, Systems, Fear, Learning, Loan Originating Platform, LOS
Discover the credit union trends that are driving success in today’s credit unions. Join host Mark Ritter on Credit Union Conversations as he and Keith Koval explore credit union loan volume growth and business lending participation loans, shaping the industry. This episode explores the evolving landscape of credit unions, highlighting trends that are transforming member services and community impact. Learn how credit unions are thriving in Western Pennsylvania and beyond. Discover strategies to navigate delinquency rates and leverage business deposits to overcome a liquidity crunch. Stay ahead with insights on credit union advertising and community service, driving growth and success.
WHAT YOU WILL LEARN IN THIS EPISODE:
✅ How loan volume is rebounding with new and repeat borrowers.
✅ The impact of credit union advertising on market visibility.
✅ Why business lending remains a steady growth driver.
✅ The rise of participation loans and improved liquidity.
✅ How community service strengthens credit union appeal.
Subscribe to Credit Union Conversations for the latest credit union trends and insights on loan volume and business lending! Connect with MBFS to boost your credit union’s growth today.
TIMESTAMPS:
00:00 Keith discusses the credit union advertising surge in Western Pennsylvania, boosting the loan volume uptick
05:09 Participation loans up 102%, business loans are up 11% overcoming the recent liquidity crunch, reflecting a positive credit union trend
10:14 Keith notes minor delinquency rates, not major foreclosures, aligning with credit union trends and business deposits up 8%
12:17 Keith emphasizes a lower fee structure at credit unions compared to banks, a key advantage for attracting business deposits
13:25 Mark discusses the rise of security fraud and phishing attacks targeting credit unions, urging vigilance within the credit union industry
KEY TAKEAWAYS:
💵 Loan volume surges with repeat and new borrowers, driving credit union trends in Western Pennsylvania
💵 Credit union advertising on radio, TV, and billboards boosts visibility and business lending growth
💵 Participation loans up 102% signal recovery from the liquidity crunch, enhancing credit union stability
💵 Business deposits rise 8%, with a lower fee structure attracting members and supporting community service
ABOUT THE GUEST:
MBFS is a credit union owned organization that supports the business and investment loan programs for 106 credit unions in Pennsylvania, New Jersey, Delaware, Maryland, Georgia, Florida and Alabama. Currently, we service over $2.5 billion in commercial loan balances.
As the Relationship Manager for the InvestorMatch Program, I specialize in mortgages for 1-4 family residential investment properties, multi-family residential properties (5+ units), mixed-use and commercial properties.
If you are a real estate agent, mortgage banker or loan broker, please contact me to discuss how you can become part of our referral program.
If you are a real estate investor, please contact me to discuss your lending needs.
RESOURCES MENTIONED:
Mark Ritter - Website
Mark Ritter - LinkedIn
Keith Koval - LinkedIn
SEO KEYWORDS:
Credit Union Conversations, Mark Ritter, MBFS, Credit Unions, QSO, Credit Union Trends, Credit Union Advertising, Business Lending, Participation Loans, Delinquency Rates, Business Deposits, Community Service, Member Services, Credit Union Loan Volume Growth, Business Lending Participation Loans
Want to stay ahead in the Credit Union industry? Curious about how Frank Diekmannn has shaped Credit Union Media? Join Mark Ritter on Credit Union Conversations and Frank Diekmannn, the visionary behind CU Daily, to unpack the evolution of Credit Union Media. From Trade Publications to navigating Press Releases, this episode uncovers the grit behind Credit Union Success. Expect a candid discussion on Conferences, Press Releases, and the power of the Opinion Section in driving the Credit Union industry forward.
IN THIS EPISODE:.
- (00:00) Intro: Meet Frank Diekmannn
- (02:24) Frank’s career journey from sports reporting to launching trade publications
- (03:27) Frank discusses the different credit union news media he has founded
- (05:30) From laborious phone sourcing to now journalism and press releases in the credit union's online media
- (09:21) Journalists need thick skin and curiosity to be successful
- (10:48) The evolution of the business model from print to digital, which is now ad-driven
- (14:54) Effective press releases must provide reader value for credit union success
- (18:07) Frank talks about his book, “501 Name Tags: How Everything You Need to Know About Business can be Learned at a Conference and Forgotten in the Trade Show.”
- (23:25) Discussion of what makes a valuable trade conference
- (27:45) Promotes CU Daily as the top news source with daily items, Opinion Section, and video for credit union success
KEY TAKEAWAYS:
- Journalism in credit union media has evolved from labor-intensive reporting during the era of Credit Union Week to the digital CU Daily, requiring Frank Diekmannn to adapt to industry consolidation and modernize press releases for the success of credit unions.
- Effective press releases must answer "why should readers care?" to engage audiences, as Mark Ritter and Frank Diekmannn emphasize providing value over corporate puffery in conferences and trade publications.
- Frank Diekmannn highlights how credit union conferences have shifted from content for credit union success to vacation-like events.
RESOURCE LINKS:
Mark Ritter - Website
Mark Ritter - LinkedIn
Frank Diekmann - LinkedIn
501 Name Tags: How Everything You Need to Know About Business Can Be Learned at a Conference & Forgotten in the Trade Show eBook - Amazon
CU Daily - Website
BIOGRAPHY:
Frank is a longtime credit union journalist and has founded various publications throughout the years. In 2025, he formed The CU Daily, which amassed a strong following in its first year.
KEYWORDS: Credit Unions, Frank Diekmann, CU Daily, Credit Union Media, Business Lending, Conferences, Journalism, News Junkie, Trade Publications, Press Releases, Marketing Director, Industry Consolidation, Sponsor Companies, Opinion Section, Credit Union Success
Calling all College Football fans, are you ready to kick off the season with some bold predictions? Want to know who’s topping the Big 10 and SEC? Join us on this episode of MBFS Quick Hits, where Mark Ritter and Keith Koval from MBFS dive into the gridiron action. From Pittsburgh to Penn State, we’re breaking down the teams to watch, like Alabama, Georgia, and Texas. Grab your game day gear and tune in for a chat that’s all about the thrill of College Football!
IN THIS EPISODE:
- (00:00) Intro: Meet Keith Koval
- (01:48) Keith shares his background as a Pittsburgh graduate and career path
- (04:10) Mark reflects on the joys of college football versus the NFL
- (06:02) Keith recalls childhood love for College Football, sparked by attending Pitt games
- (08:00) Predictions on the ACC and SEC for this year
- (10:54) Predictions on the Big 10
- (12:34) Notes Penn State’s favorable schedule, key to winning the National Championship
- (15:07) Keith predicts Notre Dame in the National Championship, suggesting the winner of Ohio State vs. Texas is the other National Championship finalist
KEY TAKEAWAYS:
- Penn State and Ohio State are predicted to lead the Big 10. Mark Ritter points out Penn State’s loaded roster as a National Championship contender. At the same time, Keith Koval highlights their favorable schedule.
- In the SEC, Alabama, Georgia, Texas, LSU, and Mississippi are top picks, but Keith Koval notes their demanding schedules could impact National Championship chances.
- Clemson, Miami, Georgia Tech, Louisville, and SMU are Keith Koval’s top ACC teams, with MBFS’s Pittsburgh-based expert predicting a strong season driven by new coaches and key transfers.
RESOURCE LINKS:
Mark Ritter - Website
Mark Ritter - LinkedIn
Keith Koval -| LinkedIn
KEYWORDS: College Football, Credit Unions, Business Lending, MBFS, Keith Koval, Mark Ritter, Pittsburgh, Penn State, Alabama, Georgia, Texas, LSU, Clemson, Miami, Georgia Tech, Louisville, SMU, Big 10, National Championship, Notre Dame, Football Season, Game Day, ACC, SEC
Mark and his two guests, Mike Radway and Todd Harper, go deep with a history lesson on the passing of HR 1151. This legislation paved the way for credit union growth in the past 25 years. Both Todd and Mike worked in the office of Rep. Paul Kanjorski at the time, who spearheaded the legislation. Every credit union employee who hasn't learned about this law should listen to why we have the successful industry we have today.
IN THIS EPISODE:
- (00:00) This special episode is a historical background of the credit union industry
- (03:15) Todd Harper’s his credit union background, noting his work on HR 1151
- (05:59) Mike Radway’s 50-year credit union journey, influencing legislative affairs and HR 1151
- (09:35) Creation of the common bond credit unions, driven by financial services
- (11:55) Explanation of the Supreme Court ruling against the common bond credit unions, leading to HR 1151
- (17:53) Passing a bipartisan bill, establishing a cap on business lending, and providing consumer choice
- (26:21) Why it’s difficult to pass legislation today
- (33:10) Surprise changes in the credit union industry over the past 25 or 30 years
KEY TAKEAWAYS:
- HR 1151, the credit union membership access act, was pivotal in allowing common bond expansions, enabling credit unions to serve diverse groups and ensuring consumer choice despite Supreme Court challenges.
- A bipartisan effort by Paul Korski and Steve Ette, supported by Todd Harper and Mike Radway, drove the legislative affairs success of HR 1151, addressing the crisis consensus to protect credit unions.
- The business lending cap, a result of banking committee negotiations, spurred diversification and growth of community charter credit unions, strengthening the financial services industry.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Todd Harper - LinkedIn
Mike Radway - LinkedIn
BIOGRAPHIES:
Todd Harper:
Few people know federal financial services laws like me. That’s because I’ve written, explained and implemented them for 25+ years. As an agency executive, policy entrepreneur, political strategist and press pro, I’ve identified emerging issues, shaped public opinion, built bipartisan coalitions and advised lawmakers and presidential appointees before the U.S. Senate twice confirmed me in the Trump and Biden eras. In the words of the American Banker, I’m “the rarest of Washington creatures: A regulator who actually gets along with everyone.”
Mike Radway:
Former Chief-of-Staff to Chairman of the National Credit Union Administration (NCUA).
Former Professional Staff, House Banking/Financial Services Committee.
Former Chairman, Federal Home Loan Bank of Seattle & Council of Federal Home Loan Banks.
Former Chair, Early Care and Education Consortium
Former DNC Member, Biden delegate 2020, Obama 2012, Gore 2000
Former Treasurer, Democratic Party of Oregon
KEYWORDS: Credit Unions, History Lesson, HR 1151, Todd Harper, Mike Radway, Membership Access, Financial Services, Community Charter, Business Lending, Common Bond, Legislative Affairs, NCUA Board, Bipartisan Effort, Consumer Choice, Supreme Court, Banking Committee, Crisis Consensus, Diversification, credit union growth, credit union industry, Common Bond Credit Unions, Financial Services, Credit Union Membership Access Act, Common Bond expansions, Crisis Consensus, Bipartisan Effort, Paul Korski, Steve Ette, Protecting Credit Unions, Business Lending Cap
Are you looking to boost your credit union’s loan portfolio? Want to stay ahead in the competitive world of financial services? In this episode of Credit Union Conversations, host Mark Ritter, CEO of MBFS, sits down with Todd Stauffer, our seasoned Relationship Manager in Western Pennsylvania, to share insights on succeeding in commercial banking. From navigating market trends to leveraging speed to market for a competitive edge, Todd reveals strategies to help credit unions thrive. Tune in to learn how to adapt to changing interest rates and build lasting client relationships!
IN THIS EPISODE:
- (00:00) Intro: Meet Todd Stauffer
- (02:17) Advice for young professionals emphasizing hard work for growth in banking and financial services
- (06:11) Borrowers are adapting to higher interest rates, reflecting changes in credit union lending
- (06:55) Varying rate expectations across markets, important for competitive lending in credit unions
- (07:15) Investors accepting lower loan-to-value ratios, relevant to commercial real estate lending
- (09:16) Speed to market as a competitive edge for credit unions against big banks
- (13:17) Maintaining high pull-through rates in loan applications, critical for credit unions
KEY TAKEAWAYS:
- Hard work and discipline are critical for achieving long-term success in financial services and commercial banking, requiring professionals to stay resilient, adapt to setbacks, and consistently execute well-thought-out plans to thrive in dynamic market trends.
- Credit unions secure a competitive edge through rapid speed to market and transparent communication, setting them apart from larger banks by offering tailored lending solutions and fostering trust in client relationships.
- Borrowers are demonstrating adaptability to higher interest rates and investors are accepting lower loan-to-value ratios, showcasing resilience in commercial real estate markets, which enables credit unions to support robust lending opportunities despite economic shifts.
RESOURCE LINKS:
Mark Ritter - Website
Mark Ritter - LinkedIn
Todd Stauffer - LinkedIn
KEYWORDS: Credit Union, Financial Services, Todd Stauffer, Mark Ritter, MBFS, Commercial Banking, Loan Portfolio, Western Pennsylvania, Borrower Adaptation, Interest Rates, Real Estate, Speed To Market, Competitive Edge, Client Relationships, Market Trends, Career Guidance, Credit Union, changes in credit union lending
Welcome to Credit Union Conversations, where we explore the latest in the credit union industry with host Mark Ritter. Today, we’re thrilled to have Rachel Snyder from CU Business Group diving into how credit unions can excel in business lending. From education and training to building strong small business relationships in your community, we’ll cover strategies to grow your portfolio and tackle challenges like delinquency.
IN THIS EPISODE:
- (00:00) Intro: Meet Rachel Snyder
- (03:00) CU Business Group’s launch in 2002 to support credit unions with business lending
- (06:17) CU Business Group is committed to education, offering webinars and training
- (11:56) Small business deposits fund commercial loans, enhancing credit union stability
- (15:15) Specific markets of small business deposits and loans can ensure effective service
- (18:35) Discussion of credit union accounts, ripe for business lending opportunities
- (22:22) Rachel recommends basic business checking/savings and advanced services like remote deposit capture
- (25:49) Rachel addresses rising delinquency in loans, urging credit unions to manage portfolio risks proactively
KEY TAKEAWAYS:
- Education and training are critical for credit unions to develop expertise in business lending. CU Business Group offers webinars and conferences to support small business loans and deposits, enhancing community engagement and portfolio growth.
- Targeting specific community markets for small business deposits and loans allows credit unions to serve effectively, avoiding overextension and building a sustainable commercial portfolio.
- Rising delinquency in commercial loans necessitates proactive management, as credit unions require expert assistance to address distressed credits early and maintain a healthier portfolio.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Rachel Snyder - LinkedIn
BIOGRAPHY:
Rachel Snyder is a longtime member of CU Business Group and the organization's COO. After a career in corporate credit unions, Rachel leads the educational offering at CUBG and a wide variety of other functions.
KEYWORDS: Credit Unions, Business Lending, CU Business Group, Education, Training, Small Business, Deposits, Community, Webinars, Conferences, Delinquency, Commercial Loans, Business Deposits, Business Loans, Portfolio Growth, Check Accounts, Savings Accounts
Join Mark at Credit Union Conversation today as we talk to Todd Stauffer, a seasoned relationship manager in the world of credit unions, about his career journey and insights on business lending and financial services. With years of experience working with credit unions and big banks, Todd shares his unique perspective on what drives success in the industry and how relationship managers can build strong business relationships. From discussing the differences between big banks and credit unions to sharing his favorite summer activities, Todd offers a wealth of knowledge and entertaining stories. Tune in for an engaging conversation that explores the world of credit unions and business lending.
IN THIS EPISODE:
- (00:00) Intro: Meet Todd Stauffer
- (01:34) Todd’s early career experience in finance
- (04:23) Todd discusses the impact of Wells Fargo shutting down its Financial division
- (06:37) Todd Stauffer’s experience working with South Carolina Federal Credit Union.
- (09:55) Working with big banks vs. credit unions
- (12:00) Working with credit unions allows access to decision-makers and a personalized approach to serving members
- (14:08) How to connect with Todd Stauffer and other credit union professionals at MBFS
KEY TAKEAWAYS:
- Credit union culture and values are distinct from big banks, with a focus on serving members and communities. Todd Stauffer shared his experience working with both big banks and credit unions, highlighting the differences in product management, decision-making, and community involvement.
- Emphasizing business lending expertise within credit unions, relationship managers like Todd play a key role in managing commercial portfolios, supporting local communities, and offering personalized service. This approach stands in contrast to the big bank experience, underlining the advantage credit unions offer in building direct connections and providing tailored loans and financial solutions.
- Community involvement is essential for credit unions to understand the needs of their members and provide effective solutions. Todd Stauffer's work with credit unions and his involvement in local communities highlight the importance of building relationships and trust with members and community leaders.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Todd Stauffer - LinkedIn
KEYWORDS: Credit Union, MBFS, Todd, Stauffer, Lending, Business, Loans, Relationship, Manager, Credit Unions, Business Lending, Community Involvement, Financial Services, Member Service, Pittsburgh, Community, Members, Finance, Portfolio, Commercial
Want to learn how credit unions thrive through collaboration? Curious about leading a low-income designated institution? In this episode of Credit Union Conversations, host Mark Ritter sits down with Andy Jaeger, CEO of Credit Union of New Jersey, for an insightful 1-on-1 conversation. From his unexpected start in the credit union industry to driving financial wellness and youth engagement through initiatives like the Greenlight debit card, Jaeger shares his journey and vision. Discover strategies for succession planning, fostering emerging leaders, and supporting small credit unions to ensure a vibrant future for the industry.
IN THIS EPISODE:
- (00:00) Intro: meet Andy Jeager
- (02:55) Andy Jaeger shares his origin story into the credit union space
- (09:05) A low-income designated credit union with $475 million in assets, focusing on members
- (15:02) Fostering credit union philosophy by indoctrinating new employees to maintain industry spirit
- (19:31) Succession planning strategies, training emerging leaders and identifying talent gaps
- (24:21) Small credit unions should collaborate and partner to overcome economic challenges
- (29:16) Credit Union of New Jersey’s priorities: financial wellness, youth engagement via Greenlight debit card
KEY TAKEAWAYS:
- Collaboration is vital for the credit union industry's future. Andy Jaeger emphasizes partnerships, like those with business lending CUSOs, to help small credit unions deliver services cost-effectively while maintaining their identity.
- Succession planning is critical to sustain the credit union's philosophy. Jaeger advocates for identifying and training emerging leaders through regional programs and networking to preserve the industry's mission.
- Financial wellness and youth engagement are priorities for Credit Union of New Jersey. Initiatives like the Greenlight debit card aim to attract younger members and promote long-term member services and community impact.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Credit Union of New Jersey - Website
Andy Jaeger - LinkedIn
BIOGRAPHY:
Andy is the longtime CEO of Credit Union of New Jersey. Andy is an accomplished credit union executive and is a former chair of the New Jersey Credit Union League.
KEYWORDS: Credit Union, Collaboration, Succession Planning, Member Services, Financial Wellness, Low Income, Community Impact, Youth Engagement, Greenlight Debit, Credit Union Philosophy, Board Training, Emerging Leaders, Small Credit Unions, Member Business Financial Services, Business Lending CUSO, Greenlight debit card
Are you interested in the latest trends in the participation marketplace? Want to learn how credit unions are changing the lending landscape? In this episode of Credit Union Conversations, host Mark Ritter chats with Tom Halliday, Vice President of Lending Sales at MBFS, to discuss the state of consumer lending in mid-2025. From the surprising member-focused approach of credit unions to the importance of clear communication in simplifying the loan process, this episode explores what drives success in lending today. Tune in for insights on overcoming business lending challenges and succeeding in a competitive market!
IN THIS EPISODE:
- (00:00) Intro: Meet Tom Halliday
- (02:24) Tom Halliday’s origin story, detailing his transition from consumer lending to joining MBFS as Vice President of Lending Sales
- (03:18) Discussion of the member-focused approach of credit unions, contrasting it with the profit-driven mindset of commercial banks
- (07:23) Discussion shifts to the state of the lending market in 2025
- (13:15) Communication is key to a smooth loan process; clear expectations and complete borrower information will avoid delay
- (19:15) Key factors for successful credit union lending programs are outlined
- (21:11) The participation marketplace is described as highly competitive, with more credit unions looking to buy
KEY TAKEAWAYS:
- Credit unions prioritize member relationships, focusing on understanding borrowers' stories and goals, unlike commercial banks, which often treat borrowers as numbers.
- Effective communication is crucial for seamless loan processes, ensuring clear expectations and prompt responses between borrowers, relationship managers, and credit unions.
- The participation marketplace is highly competitive in 2025, with more credit unions seeking to buy loan participations than available opportunities, requiring quick responses to secure deals.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Tom Halliday - MBFS
Tom Halladay 302-545-3424
Ready to dive into the wild world of credit union predictions? Want to know what’s next for the financial landscape in 2025? Join host Mark Ritter and COO of MBFS Jeff Lyons in this lively episode of Credit Union Conversations as they toss out bold forecasts for the rest of the year! From the chaotic twists of the NCUA board saga to the buzz around potential interest rate cuts by the Federal Reserve, Jeff and Mark unpack what’s shaking up the industry. Expect spirited banter on how tariffs might play out as a cheeky negotiation tool and why the loan marketplace is hotter than a summer barbecue. Tune in for a quick, fun ride through the economic crystal ball!
IN THIS EPISODE:
- (00:00) Introduction
- (01:14) Discussion on NCUA board chaos, highlighting legal ambiguity in removing board members, predicting Supreme Court resolution
- (04:25) Prediction on interest rates, expecting a half-point Federal Reserve cut by year-end
- (06:41) Tariffs discussed as a negotiation tool and the budget deal in Congress
- (11:15) Discussion of the loan marketplace outlook for credit unions and home values
- (13:00) Focus on SBA loans and home-based businesses, predicting a boom in startups due to economic conditions
KEY TAKEAWAYS:
- Legal uncertainty surrounds the removal of NCUA board members, which is likely to be upheld after Supreme Court appeals.
- Anticipated a half-point Federal Reserve interest rate cut by year-end, with stable inflation and low unemployment.
- Tariffs are being used as a negotiation tool, with minimal impact on trade, and modest 10% tariffs are expected, particularly on manufacturing from China.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Jeff Lyons - LinkedIn
KEYWORDS: Credit Union, MBFS, NCUA Board, Interest Rates, Federal Reserve, Inflation, Unemployment, Tariffs, Negotiation Tool, Trade, Loan Marketplace, SBA Loans, Home-based Businesses, Budget Deal, Economic Conditions, Supreme Court, Business Startups, Consumer, Tax Cuts, Credit Union Predictions, Financial Landscape 2025
Welcome to Credit Union Conversations. Host and CEO of MBFS, Mark Ritter, dives into the world of business lending with Chief Administrative Officer Ellen Thorn.
In this episode, they reflect on MBFS’s impressive growth from $750 million to nearly $3 billion in assets and explore Ellen’s professional journey to her pivotal role at MBFS. You’ll gain insights into building strong third-party relationships through effective communication, respect, and trust, as well as strategies for successful portfolio management.
Additionally, Ellen shares her perspective on navigating regulatory challenges, including risk management and cybersecurity, offering a glimpse into the future of the credit union industry.
IN THIS EPISODE:
- (00:00) Intro: Meet Ellen Thorn
- (01:35) Ellen’s career journey and her current role at MBFS
- (03:22) MBFS has grown from $750 million to nearly $3 billion in assets
- (06:49) The importance of communication, respect, and shared goals for successful partnerships
- (09:19) Communication breakdown and loss of trust are common issues in third-party relationships
- (15:51) Ellen highlights the importance of relying on MBFS and constant communication for smooth portfolio management
- (23:27) Ellen outlines regulatory focus on risk management, compliance, and cybersecurity and gives her thoughts on the future
KEY TAKEAWAYS:
- MBFS has grown significantly from $750 million to nearly $3 billion in assets under management, with staff increasing from 16 to over 50, reflecting substantial organizational and geographic expansion.
- Successful third-party relationships rely on communication, mutual respect, and shared goals, with proactive engagement and trust being critical to smooth operations.
- Effective portfolio management requires constant communication and customization. Credit unions that actively engage with MBFS experience smoother operations compared to those that don’t.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Ellen Thorn - LinkedIn
BIOGRAPHY:
Ellen Thorn is a finance and accounting professional with over 10 years of achievement within the commercial real estate finance and funds management industries. Extensive experience working in middle and back office operations, including risk management, legal, treasury, budgeting, trade support, investor services, IT, finance, and accounting. Excellent communicator with emphasis on building strong client relationships. Recognized as a resourceful colleague who engineers change and is committed to achieving corporate objectives.
KEYWORDS: Credit Union, MBFS, Business Lending, Chief Administrative Officer, Communication, Commercial Real Estate, Asset Under Management, Growth, PPP Era, Communication, Trust, Third-Party Relationships, Portfolio Management, Due Diligence, Regulatory Environment, Risk Management, Cybersecurity, Loan Servicing, Client Reporting
Ready for a lighthearted break from business as usual? In this episode of Credit Union Conversations, host Mark Ritter sits down with MBFS COO Jeff Lyons for a fun and casual chat about summer vacations, Lisbon and the Netherlands, favorite conference destinations, the pros and cons of swag giveaways, and how their childhood summers compare to today’s parenting. Whether you’re into golf, beach days, or just need a few laughs, this episode has something for everyone.
IN THIS EPISODE:
- (00:00) Intro: Meet MBFS COO Jeff Lyons
- (00:57) Mark recaps his Lisbon and the Netherlands vacation
- (02:38) Conference season wrap-up in Orlando and reflection on their favorite destinations
- (05:12) Discussion of the swag giveaways, determining they are ineffective marketing tools
- (07:03) Discussion of summer plans, wildlife sightings, and childhood summer memories
- (11:14) Modern parenting, grandparenting, and past parenting norms
KEY TAKEAWAYS:
- Mark and Jeff reflect on their favorite (and least favorite) conference destinations, highlighting cities like New Orleans and Charleston for their food and culture, while expressing fatigue with places like Las Vegas and Destin in peak summer.
- Mark shares his distaste for promotional conference swag, calling it ineffective marketing, while Jeff admits he still enjoys collecting tchotchkes, though even he hasn’t seen anything new or innovative lately.
- The conversation shifts to summer plans, from golfing and beach weekends to hiking and fishing. The two also reminisce about their vastly different childhood experiences, especially the freedom kids once had to roam unsupervised—something nearly unimaginable today.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Jeff Lyons - LinkedIn
BIOGRAPHY:
MBFS provides credit unions with all aspects of business lending services.
Chris and Mark go deep on what it is like to make the jump to your own attorney practice and small business. What's it like to work full-time and build a real estate portfolio? Credit unions around the country can connect with Chris at riceparklaw.com.
IN THIS EPISODE:
- (00:00) Intro: Meet Chris Rice
- (01:49) Chris Rice's professional background journey
- (07:25) Chris shares his experience working with credit unions and what it was like starting Rice Park Law firm
- (13:02) The differences between commercial and consumer collections
- (16:51) Do not delay on a default notice
- (22:06) Chris advises on selecting an attorney and he gives his outlook on the future
KEY TAKEAWAYS:
- Attorney Chris Rice has launched Rice Park Law, focusing on credit union representation. His extensive background in real estate and restaurant ownership gives him unique insights into business operations and challenges.
- Commercial and consumer collections differ: Commercial loan collections are often more straightforward due to tools like the "confession of judgment" and the use of secured assets. Consumer collections, however, are more complex due to regulations and typically involve unsecured debt.
- Early legal intervention in loan defaults is key. Don’t delay sending default notices and involve legal counsel early in commercial loan defaults. This helps avoid "lender liability claims" and allows for effective workout solutions like forbearance agreements, saving time and money.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Rice Park Law - Website
Chris Rice - LinkedIn
BIOGRAPHY:
Chris Rice is the founder of Rice Park Law. For the past twenty years, Chris has helped numerous credit unions with contractual, regulatory, loan closing, and workout issues. Chris is an entrepreneur who lives and practices out of Carlisle, PA.
KEYWORDS: Credit Unions, Chris Rice, Rice Park Law, Commercial Collections, Consumer Collections, Small Business, Real Estate Portfolio, Business Lending, Commercial Lending, Real Estate, Renovation Projects, Restaurant Ownership, Carlisle Community, Lending Institutions
MBFS CEO Mark Ritter and a guest from his team catch up on the latest happenings at MBFS, the credit union industry, and other odds and ends.
IN THIS EPISODE:
- (00:00) Introduction: Meet Craig Page
- (02:54) New ways of making a positive customer experience
- (05:44) Outdated ways of advertising, the Sunday newspaper and Black Friday shopping
- (08:42) The new ways of networking and connection: LinkedIn and Social Media like TikTok
- (12:49) MBFS is hiring - reach out to Mark by video call
KEY TAKEAWAYS:
- Digital transformation has shifted business lending from traditional methods, such as cold calling and print ads, to platforms like LinkedIn, enabling more authentic and efficient connections.
- Customer experience is now king. Instead of focusing on volume-driven sales tactics, successful business lenders prioritize building relationships and delivering a seamless customer experience, which drives long-term loyalty and referrals.
- As in-person meetings decline, adapting marketing strategies to virtual environments through video calls, social media, and personalized digital content is essential for staying relevant and competitive.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Are you ready to rethink how young people approach money and build lasting financial confidence? Welcome to Credit Union Conversations, hosted by Mark Ritter, CEO of MBFS, a business lending CUSO serving clients across the United States and Puerto Rico. In this episode, Mark is joined by Todd Romer, who partners with credit unions to leverage his "Do Money Differently" financial education approach as a powerful tool to attract younger members. With paycheck-to-paycheck living at a record high of nearly 75% and rising, Todd’s strategy challenges traditional financial advice, focusing on practical, transformative steps for young adults. Today, they’ll dive into Todd’s journey with Young Money University, the unique advantages credit unions offer, and actionable insights on investing and avoiding college debt traps.
IN THIS EPISODE:
- (00:00) Intro
- (01:39) Todd Romer discusses Young Money University
- (05:20) Credit unions offer named savings accounts to save purposefully
- (09:36) You don’t have to be an expert, start with a platform like Acorns
- (11:13) Upbringing shapes our money habits, set up a college budget and discuss career goals and costs
- (21.57) How to start investing in the stock market and its historical 10.2% annual return
KEY TAKEAWAYS:
- Early exposure to investing shapes lifelong financial habits. To foster enduring financial confidence, begin teaching teens about money and investing. Providing young people with targeted financial education, emphasizing a distinctive approach to money management, is essential.
- Credit unions should emphasize their unique benefits, like named savings accounts, to attract younger members.
- Guide high schoolers to consider affordable education paths and discuss financial realities early to avoid debt. College debt is a growing concern, with many students unaware of cost-effective options.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Young Money University - Website
BIOGRAPHY:
Todd Romer is passionate about financial education. He has helped thousands of people take on a new lease of life by providing them the exact steps to dream, save, spend, invest and give money DIFFERENTLY to reach goals/dreams. Todd also partners with credit unions to use DO MONEY DIFFERENTLY financial education as their most valuable marketing tool to drive younger membership growth.
MBFS CEO Mark Ritter and a guest from his team catch up on the latest happenings at MBFS, the credit union industry, and other odds and ends.
IN THIS EPISODE:
- (00:00) Craig Page shares his professional background and responsibilities
- (01:57) Mark introduces a new, shorter episode format featuring MBFS team members
- (04:30) Mark and Craig discuss their moves from suburbia to rural areas
- (06:49) MBFS sees unexpected growth in 2025 in the CUSO
- (08:41) Craig explains the value of small credit unions in partnering with a CUSO like MBFS
- (10:32) Craig shares his reaction to the boom in lending
KEY TAKEAWAYS:
- The Credit Union Conversations podcast has introduced a shorter, more conversational format featuring "quick hitters." These episodes, airing twice monthly, will focus on current industry topics, updates from MBFS, personal anecdotes, and team insights, in contrast to their traditional long-form interviews.
- Despite expectations for a flat year, MBFS has experienced rapid growth, with seven new credit unions joining early in the year and 18 more in the pipeline. Loan volume has also increased, reflecting strong demand for its services.
- Smaller credit unions are increasingly entering the member business lending space but face resource and staffing challenges. MBFS offers a “plug-and-play” solution, handling everything from origination and servicing to loan workouts, making it easier for credit unions to scale without heavy internal investment.
RESOURCE LINKS:
Mark Ritter - Website
Mark Ritter - LinkedIn
Craig Page - LinkedIn
MBFS, CUSO, Mark Ritter, Credit Unions, Growth, Lending, Origination, Servicing, Pipeline, Small Credit Unions, Team, Industry, Business, Partnerships, Future of Lending, Boom in Lending, Unexpected Growth, Partnering With MBFS, Services, Loan Volume, Business Lending
THE MBFS COO and resident SBA expert joins Mark today to try to make sense of the 2025 regulatory chaos. What's going on with the SBA? What changes are afoot? Are they good or bad for credit unions?
IN THIS EPISODE:
- (00:00) Intro
- (01:48) Jeff Lyons’ professional background and what has happened with SBA with the onset of the new administration
- (05:30) Discussion of lending fees and zero subsidy
- (08:00) Discussion of PPP Loans and non-bank, non-regulated lenders, delinquencies, and selling off SBA loans for a profit
- (15:49) Discussion of the stability of the SBA in uncertain times and what MBFS can do for a credit union to facilitate the SBA process
- (20:44) Jeff shares why SBA is beneficial for your credit union
KEY TAKEAWAYS:
- The SBA is shifting back to pre-COVID operations, reinstating previously waived borrower lending fees. This change aims to stabilize the SBA's finances, which had gone into negative cash flow due to fee eliminations during the pandemic.
- The new SBA Administrator, Kelly Loeffler, has brought staff back to in-person work and announced plans to streamline SBA operations. However, concrete changes in process efficiency are still pending, and a significant workforce reduction (about 43%) is underway to adjust for post-PPP staffing levels.
- Due to higher delinquency rates and lax underwriting standards in the SBA loan portfolio, non-bank fintech lenders are under increased scrutiny. As a result, future non-bank SBA lending licenses are unlikely, reinforcing the SBA’s preference for traditional, regulated lenders like credit unions.
- Lender Service Providers (LSPs) like MBFS offer valuable assistance navigating the SBA loan process, but lenders must remain actively involved. LSPs can provide expertise and guidance to credit unions, helping them understand the requirements and streamline the application. However, the responsibility for the member relationship, underwriting, and overall loan management ultimately rests with the lending institution.
RESOURCE LINKS:
Mark Ritter - Website
Mark Ritter - LinkedIn
Jeff Lyons - LinkedIn
BIOGRAPHY:
MBFS provides credit unions with all aspects of business lending services.
Nu Direction Lending is an online financial technology company based in Feasterville-Trevose Pa. The company provides funding from $25,000 to $500,000 directly to small businesses through an automated lending platform.
Danielle Gallagher is the CEO of Eagle One FCU in Claymont, DE. She has been involved with credit unions since college and worked her way up to be named CEO in 2020. Danielle and Mark take a deep dive into her journey, what's new at the credit union, and look at a crystal ball for the future of small credit unions.
IN THIS EPISODE:
- (00:00) Introduction
- (02:02) Danielle Gallagher’s professional background, leading her to Eagle One FCU
- (05:40) A snapshot of services Eagle One Credit Union provides
- (10:47) Danielle Gallagher’s experience of taking on the role of a long-tenured CEO
- (14:25) Discussion of being a CDFI (Certified Development Financial Institution)
- (20:05) Working with QSOs and what’s working well at Eagle One
- (23:29) Danielle Gallagher advises credit unions regarding succession planning
KEY TAKEAWAYS:
- Danielle Gallagher's career at Eagle One Federal Credit Union began during college breaks, influenced by her mother's role there. She progressed from a member service representative to gaining experience in marketing and finance and eventually becoming CEO. Her grandfather also worked for the credit union under its former name, highlighting a family connection to the institution.
- Eagle One is a small but "mighty" credit union with about $85 million in assets and four branches. It serves around 9,000 members and particularly values its relationships with USPS and Philadelphia Gas Works employees. Despite its size, Eagle One offers a wide range of services and prioritizes member service. The staff wears multiple hats due to its smaller team size.
- Danielle emphasized the importance of succession planning, noting that Eagle One's smooth transition was due to months of preparation. She contrasts this with the trend of credit unions merging due to a lack of future leadership. Eagle One is a certified development financial institution that helps serve underbanked communities.
RESOURCE LINKS:
Mark Ritter - Website
Mark Ritter - LinkedIn
Danielle Gallagher - LinkedIn
Welcome to Credit Union Conversations. I’m Mark, and today’s episode will be a little different. I don’t usually record podcasts like this, but sometimes you just need to talk through what’s been on your mind. There’s been a lot happening in the business lending world, and I’ve been reflecting on where things stand—what’s working, what’s shifting, and what credit unions need to be paying attention to right now. This is more of a pulse check, a chance to unpack the momentum and opportunities ahead. So, thanks for joining me for this more personal take—I’m looking forward to getting into it with you.
IN THIS EPISODE:
- (00:00) Introduction
- (00:49) Mark shares what's on his mind in the credit union space
- (02:41) Business is up this first quarter
- (06:16) The shrinking base of credit unions and the pay-for-play model of conventions
- (12:17) The CFPB and the CDFI and the NCUA
- (17:11) The changing culture of the credit union and what can be done
KEY TAKEAWAYS:
- Business lending is experiencing a resurgence, with increased demand from small businesses and credit unions. It's proving to be a reliable income stream even amid economic fluctuations, offering more stability than consumer loans and mortgages, which have been impacted by interest rate volatility and market changes.
- There is a growing need for stronger portfolio management and compliance resources due to rising—though normalizing—delinquencies and heightened regulatory expectations. The competitive landscape is also intensifying, with more entrants vying for a shrinking pool of credit unions, leading to thinner margins and greater pressure on service providers.
- Industry conventions, especially larger ones, are becoming less effective for meaningful engagement. The consolidation of major trade organizations has shifted event participation to a pay-for-play model, limiting visibility for value-driven providers. This, combined with rising costs, is prompting a reevaluation of outreach strategies and event participation.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
I’m Mark Ritter, and this is Credit Union Conversations. Today, I’m joined by Austin Wentzlaff from Nook to discuss how credit unions can evolve beyond competitive rates and traditional relationships by using digital tools to deepen member engagement. We’ll explore how Nook takes a fresh approach—focusing on lifestyle topics like travel, health, and relationships—to build trust and naturally drive financial product adoption. Plus, we’ll dive into the role of venture capital in fintech, the challenges early-stage companies face, and what it really takes to bring innovation to the credit union space.
IN THIS EPISODE:
- (00:00) Introduction
- (01:50) Austin shares his professional journey
- (07:36) Austin explains Nook’s purpose and how it operates
- (13:39) How is the industry responding to the premise of Nook’s purpose
- (17:44) What is in Nook’s future and Austin explains the roots of FinTech Accelerator
- (25:16) Discussion of venture capital
KEY TAKEAWAYS:
- The credit union industry has thrived on competitive rates and strong member connections, but digital tools now deepen engagement. By focusing on lifestyle topics over direct financial discussions, this approach builds trust and drives natural product adoption.
- Successful early-stage fintechs and QSOs must be innovative, not just marginally improving existing solutions. They should be in a pilot phase with limited clients and employees, and they must be genuinely committed to the credit union industry rather than just exploring it as a potential revenue stream.
- While venture capital provides diversification and reduces risk for credit unions, it can also create a disconnect. Historically, credit unions invested in QSOs they were already working with, ensuring strategic alignment. The shift toward aggregated investment funds may weaken direct relationships between credit unions and fintechs, potentially impacting strategic collaboration.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Austin Wentzlaff - Nook - LinkedIn
Nook - Website
Austin's Email
BIOGRAPHY:
Austin Wentzlaff is the Co-Founder & CEO of Nook and brings 10+ years of credit union industry, CUSO, and Fintech startup leadership experience.
Prior to starting Nook, Austin was the Founder and CEO of Fintech Accelerator, a consulting firm focused on bringing new technologies to the credit union industry, whose client list included CUSOs, RenoFi and Illuma, among other successful startups. Prior to founding Fintech Accelerator, he was the Chief Revenue Officer overseeing sales and marketing efforts at OnApproach, a CUSO acquired by Trellance in 2019. He has spent the entirety of his career in the credit union industry, where he has worked exclusively for Fintech startups from the earliest stages of growth through exit. Austin has extensive experience working with Fintech startups as an early employee (joining OnApproach, Illuma, and RenoFi all with less than 10 employees) and a key contributor, instrumental in their early success.
Austin is an alumnus of Gustavus Adolphus College, where he received a degree in Financial Economics.
You'll quickly find out Mark and Rodney go way back and talk about the old days. What is a corporate credit union these days, and how can it help credit unions in today's marketplace? Rodney takes a deep dive into this topic today.
IN THIS EPISODE:
- (01:40) Rodney shares his professional journey both in landscaping and the credit union space
- (05:08) Rodney defines a corporate credit union
- (09:47) Discussion of Mid Atlantic Corporate evolving into Vizo Financial and the business lines offered
- (14:04) AI service launched to assist credit unions identify and use their data effectively
- (18:54) Education and webinars provided and following current rules for credit unions
- (24:35) Who are the most successful clients at Vizo
KEY TAKEAWAYS:
- Corporate credit unions, which began in the 1970s and 1980s as liquidity providers for credit unions, have evolved to offer a wide range of financial services, including ACH, wire services, and fraud prevention. The sector has consolidated over the years, focusing on building economies of scale and offering more competitive services.
- The primary services provided by corporate credit unions today include competitive overnight investment accounts, ACH, wires, bill pay, and fraud prevention. Additionally, services like real-time payments (FedNow) and cyber security have become increasingly important, with a growing focus on helping credit unions protect against fraud and manage risk.
- A successful relationship with a corporate credit union is built on regular, open communication. Credit unions should utilize corporate services for their excess liquidity and reach out when new needs arise. The goal is to maintain constant engagement, ensuring both parties stay relevant and that credit unions maximize the benefits of available services.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Vizo Financial - Website
BIOGRAPHY:
Rodney May is the Chief Engagement Officer of the $4 billion Vizo Financial. His primary focus is directing all business development functions including marketing, investment sales, product sales, call center, back-office services, correspondent service implementation, core system support/implementation and member services.
Mark and Kyle catch up on Mark's flaws and frustrations of trying to do everything himself. Kyle talks about his career journey and life as an entrepreneur and how they assist business owners.
IN THIS EPISODE:
(02:38) Kyle Walburn’s entrepreneurial journey and the creation of Efficient Aide
(10:44) Efficient Aide offers services in various skills of fractional support for remote work
(19:10) Kyle describes the situations that will benefit from his services
(21:39) Kyle predicts how he sees small businesses thriving in the future
(25:01) Advise for entrepreneurs who want to start a business
KEY TAKEAWAYS:
- Kyle Walbrun founded Efficient Aide, inspired by his uncle’s entrepreneurship and his father’s work ethic. Combining marketing, finance, and communication skills, he grew a solo virtual assistant service into a 50-person team, helping businesses operate efficiently without full-time overhead.
- Businesses are increasingly comfortable with remote work and fractional roles, which allow them to tap into a wider talent pool without needing full-time, in-office staff. Leaders realize that many tasks don’t require immediate, on-site attention and can be effectively handled by experienced remote professionals at a lower cost.
- Advances in remote work, fractional hiring, and AI are making it easier than ever for entrepreneurs to start and scale businesses without heavy overhead costs. Outsourcing non-core tasks allows business owners to focus on growth, strategy, and innovation rather than day-to-day operations.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Efficient Aide - Website
BIOGRAPHY:
Kyle Walbrun is the founder and CEO of Efficient Aide. He focuses on finding, training, and managing executive assistants for entrepreneurs nationwide. You can learn more about their services by connecting with them at info@efficientaide.com.
Welcome to Credit Union Conversations! In today’s episode, host Mark Ritter is joined by the industry’s leading expert, Mark Treichel, to uncover the mysteries of the NCUA exam and guide you through its complexities. With insights on risk management, cybersecurity, and evolving regulations, Mark Treichel offers invaluable advice on navigating credit union challenges, especially with a new administration in place. Tune in as they discuss everything from working through exam processes, the impact of office buyouts, to the current state of credit risk and empty office spaces. Plus, get an insider's look into the concept of regulation by enforcement and how credit unions can better manage their cybersecurity efforts. Stay with us to hear Mark's advice on reaching out and getting expert assistance on your next NCUA exam.
IN THIS EPISODE:
(00:00) Introduction
(01:34) The NCUA exam and a new administration
(09:27) Buyouts and requirements of working in person
(13:27) Credit risk management and empty offices
(19:10) Cybersecurity and regulation by enforcement
(27:53) Connect with Mark Treichel
KEY TAKEAWAYS:
- The change in administration, particularly moving from one political party to another, significantly influences the NCUA's priorities and approach. This shift often creates chaos as new leadership adjusts priorities and regulations.
- The NCUA is currently dealing with internal challenges, such as a hiring freeze, regulatory pauses, and staff buyouts. These factors contribute to uncertainty within the agency and affect its ability to fulfill its mission effectively. The chaotic environment could lead to turnover, with highly skilled employees either retiring or leaving for other opportunities.
- There is a focus on "regulation by enforcement," where policies are often clarified through enforcement actions rather than proper regulation. This creates ambiguity and strain on organizations, and there is a push for rules that strictly follow the intent of the law to avoid overreach and unnecessary penalties.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
With Flying Colors - Podcast
Mark Treichel - Website
Credit Union Regulatory Guidance - Podcast
BIO:
With 33 years of experience at NCUA, I've served in key roles, including Executive Director, Regional Director, Director of Special Actions, Supervisory Examiner, and Principal Examiner. Starting as a ground-level examiner, I rose to the organization's top. As Executive Director, I supervised Regional Directors, gaining unparalleled insight into NCUA's operations and decision-making processes.
Our Team
I lead a team of former NCUA experts with a combined experience of over 240 years in credit union regulation and supervision. This wealth of knowledge allows us to provide comprehensive, insider perspectives on all aspects of credit union operations and regulatory compliance.
How We Can Help
We offer assistance with a wide range of credit union challenges, including:
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Examination preparation and response
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Regulatory approval processes
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Document of Resolution (DOR) issues
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CAMEL code assessments and improvements
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Risk management (credit, interest rate, liquidity, etc.)
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Regulatory compliance (BSA, Fair Lending, etc.)
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Strategic planning and corporate governance
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Appeals and negotiations with regulators
Areas of Expertise
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NCUA examination priorities and processes
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Large Credit Union Program and ONES transition
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CFPB compliance
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Bank purchases
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Supervisory Committee guidance
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NCUA regulations and Letters to Credit Unions
Welcome to Credit Union Conversations! In this episode, we wrap up our series on the powerful partnerships between credit unions and small business owners with an inspiring entrepreneurship and financial collaboration journey. Host Mark Ritter is joined by George Florence from American Heritage Credit Union and Ross Hammer from Cape May, New Jersey, to explore how credit unions play a vital role in supporting ambitious entrepreneurs. From Ross’s unconventional path—dropping out of school and moving to Hong Kong—to securing an SBA loan with the backing of key mentors, this episode highlights the resilience and opportunity that credit unions help create. We spotlight Pennsylvania’s American Heritage Credit Union and its commitment to empowering small businesses. Stay tuned for valuable insights on lending, perseverance, and the unexpected opportunities that shape success!
IN THIS EPISODE:
- [2:38] George describes his role at American Heritage Credit Union
- [3:53] Ross shares his background
- [12:08] Ross drops out of school and moves to Hong Kong, and the inspiration he received from a book and wanting to be an entrepreneur
- [17:36] Applying for an SBA loan and getting support from key people and an unexpected windfall and a new venture
- [29:07] Ross connects with American Heritage Credit Union to apply for a small business lending loan
- [38:56] Ross advises lenders about giving people an opportunity
KEY TAKEAWAYS:
- Ross Hammer demonstrated relentless determination despite financial struggles. He hustled to secure funding for his food truck, even using Coinstar to cash in change and taking a chance on fantasy football, which ultimately led to an unexpected windfall. His story highlights the importance of persistence and thinking outside the box to achieve goals.
- Key figures played crucial roles in his entrepreneurial journey. Their belief in him, financial support, and guidance helped him transition from food trucks to real estate, proving that strong networks and mentorship can be life-changing.
- After initial failures in the food truck business, Ross pivoted to real estate, recognizing an opportunity in distressed properties. Instead of flipping houses for a quick profit, he focused on revitalizing neighborhoods and renting them out, eventually building a substantial portfolio. His story underscores the value of adapting to market conditions and thinking long-term.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
American Heritage Credit Union - Website
Rich Dad, Poor Dad - Book
Zest Cape May - Website
Taco Caballio Tequileria - Website
George Florence - LinkedIn
Welcome to Credit Union Conversations! This week, we continue our series exploring the impactful partnerships between credit unions and small business owners. Host Mark Ritter is joined by Josh Green from American Heritage Credit Union and Ted Van Beuren, the visionary behind United Sports in Pennsylvania. This episode delves into the successful collaboration between these two entities, showcasing how a strong credit union partnership can empower businesses to thrive. Discover how American Heritage has supported United Sports' growth, learn about Ted's entrepreneurial journey, and gain valuable insights for aspiring business owners. Today, we're heading to Pennsylvania to spotlight the American Heritage Credit Union—don’t miss it!
IN THIS EPISODE:
- [1:33] Josh shares his role at American Heritage Credit Union
- [3:41] Ted reveals how he saw the need for the sports complex he developed and gives his forecast on soccer in the United States
- [12:20] Ted shares some of the challenges of operations
- [15:00] Josh shares how American Heritage and United Sports partnered
- [18:00] Ted feels that working with the credit union has expedited the services they need at United Sports
- [19:51] Ted advises prospective entrepreneurs
KEY TAKEAWAYS:
- Building strong partnerships is crucial for business success. The importance of cultivating long-term, mutually beneficial relationships between businesses and their financial institutions cannot be overstated. The partnership between United Sports and American Heritage Credit Union exemplifies this, demonstrating how a strong relationship can go beyond simple lending and encompass a range of support, from depository services to community involvement.
- Patience and a long-term vision are required in the entrepreneurial journey. Careful research, planning, and a willingness to adapt to unforeseen challenges are essential. You must demonstrate perseverance and a steadfast commitment to the long-term goal.
- United Sports and American Heritage Credit Union is committed to giving back to the community. This shared value strengthens their partnership and creates a positive impact beyond their core business activities.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
United Sports - Website
American Heritage Credit Union - Website
Josh Green LinkedIn
Ted Van Beuren LinkedIn
Welcome to Credit Union Conversations! This week, we kick off an exciting new series focused on the relationship between credit unions and small business owners. Host Mark Ritter is joined by Nathan Crouch from Erie Federal Credit Union and one of their standout business members, Joseph Markiewicz. Together, they’ll explore the ins and outs of the lending process, from the challenges business owners face to the qualities they value most in their financial partners. Tune in as they discuss real-world experiences, share insights on what credit unions can do better, and highlight how these partnerships drive success for local businesses. Today, we're heading to Northwest Pennsylvania to spotlight Erie Federal Credit Union—don’t miss it!
IN THIS EPISODE:
- [3:11] Nathan explains his role at the credit union
- [6:24] Joe explains how he decided to go into business for himself
- [15:29] Why Joe made the switch to managing a wedding venue
- [19:41] Nathan describes how the credit union assisted with Joe’s small business plan
- [21:35] Joe’s relationship with the credit union and why he trusts them
- [26:13] Nathan sees a growth outlook for small business in his area, and Joe offers advice to other entrepreneurs
KEY TAKEAWAYS:
- A key takeaway from the discussion on financing the wedding venue is the value of strong relationships between members and their credit unions. Nathan Crouch highlights the importance of detailed planning, including business plans and cash flow projections, when evaluating unique loan requests like this one. The credit union's willingness to collaborate and leverage community resources reflects its adaptability and commitment to supporting members' entrepreneurial ventures. The members' loyalty to the credit union stems from competitive lending rates, excellent customer service, and open, honest communication with their financial advisors.
- The outlook for the small business environment is optimistic and growth-oriented. Despite the typical seasonal slowdown in commercial lending during the fourth quarter, there has been robust loan demand. This indicates that business owners remain confident in the economic conditions and actively pursue growth opportunities. Credit union employees see this as a positive sign, reflecting a robust mindset among local entrepreneurs and a willingness to invest in their businesses despite external challenges.
- It is critical to start with strategic planning and balance. Instead of constantly chasing growth, small businesses should focus on achieving efficiency, streamlining processes, and aligning goals with personal priorities. Learning from the successes of others, taking educated risks backed by thorough research, and being open to feedback from trusted sources. Joe’s approach underscores that success often comes from leveraging proven ideas and maintaining a clear sense of purpose rather than attempting to reinvent the wheel.
RESOURCE LINKS:
Mark Ritter - Website
Mark Ritter - LinkedIn
Edinboro Storage Center - Website
Country Elegance Venue - Website
BIOGRAPHIES:
Joe Markiewicz is the owner of a wedding venue in Erie, PA.
Nathan heads up business lending at Erie FCU.
This week, Mark welcomes Nicol Matthews, the principal behind Harvest Coaching & Consulting, to discuss how credit unions can drive sustainable growth in a competitive financial landscape. Credit unions can strengthen their market position by building a strong sales culture, developing effective leadership, and expanding business services. Nicol shares insights on how establishing a sales culture through consistent coaching, aligning leadership with a long-term vision, and growing business services—particularly deposits—can help credit unions enhance their impact, build stronger relationships, and ensure long-term stability.
IN THIS EPISODE:
- [3:28] Nicol shares her background and why she launched Harvest Coaching & Consulting
- [10:20] How credit unions should adopt a sales culture with goals and leadership to maximize growth
- [16:07] Nicol shares her thoughts on credit union leadership
- [21:44] Building business services and membership
- [28:09] Nicol shares the advantages of having a fractional executive
KEY TAKEAWAYS:
- Establishing a thriving sales culture within a credit union requires more than just launching a program. It involves setting clear goals, providing consistent coaching, and allowing gradual implementation over time. Leaders must create a foundation that aligns with the organization’s values and continuously build it, ensuring that empathy, integrity, and honesty are incorporated into the sales approach.
- Leadership development should be an ongoing process, not a one-time event. Whether someone is new to the C-suite or has been in the role for years, investing in executive leadership growth is key to fostering a positive organizational culture and long-term success. When needed, regular coaching, feedback, and external guidance can provide a fresh perspective and push leaders to improve.
- Credit unions can increase liquidity and grow their membership base by focusing on business services, especially deposits. Viewing business accounts not just as a line item but as a strategic growth area is essential. Implementing business deposit products and offering alternatives to banks can position credit unions as valuable resources for small businesses, ultimately driving growth in deposits and loans.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Monday Morning Leadership - Book
Nicol Matthews - Email
Harvest Coaching & Consulting - Website
BIOGRAPHY:
After a long and successful executive career in building credit unions, Nicol Matthews is now the principal behind Harvest Coaching & Consulting. Nicol can be reached at nmatthews@harvestcoachconsult.com.
This week, Mark welcomes Scott Jordan from the Alternative Finance Network to explore the unique landscape of alternative lending in the cannabis industry. Scott shares insights from his career journey, breaking down who the key lenders are and what makes alternative financing work for this fast-growing sector. From discussing the legal challenges at state and federal levels to predicting the industry’s growth to $100 billion by 2027, Scott offers a deep dive into cannabis financing and what the future may hold for businesses and lenders.
IN THIS EPISODE:
- [2:20] Scott shares a bit about himself and his career journey
- [4:41] Scott explains who the lenders are in the Alternative Finance Network and the risks and perceived risks
- [9:36] Who are the customers of Alternative Finance Network, and discussion and examples of exit strategies for those businesses
- [14:23] Discussion of federal and state legalities for providing financial services to the cannabis industry
- [20:30] How the lending environment changed since the availability is more widespread
- [23:25] Scott gives his predictions of where the cannabis business is going from the business and financial services side
KEY TAKEAWAYS:
- Alternative financing for cannabis-related industries comes from diverse sources, including cannabis-friendly banks, credit unions, leasing companies, and specialty lenders. Many of these funds ultimately trace back to banks or wealthy private investors, creating a network that enables specialized lending.
- In alternative lending, high interest rates can't compensate for risky investments with low repayment potential. Successful lenders look for market mismatches, where perceived risk is higher than actual risk, creating opportunities for smart, lower-risk lending.
- Scott predicts continued growth in the cannabis industry, predicting it will reach $100 billion by 2027. He anticipates gradual state-by-state legalization and eventual federal regulation, especially for safer, cashless payment solutions. They’re optimistic about expanding services, including mainstream credit card options and international market entry, and see social equity initiatives as pivotal for industry inclusivity and growth.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Scott Jordan - LinkedIn
Alternative Finance Network - Website
Scott Jordan - Email
BIOGRAPHY:
I created the Alternative Finance Network to serve marijuana and hemp business owners by providing one-stop shopping for all your cannabis loan needs. Whether it is financing real estate, equipment, working capital, or accounts receivable I have a funding source who can fund that loan AND get you the best possible rate and terms for your needs.
This week, Mark Brennan joins Mark to discuss his incredible journey in the credit union industry, from the highs and lows to his experiences in leadership and the transition into retirement. Mark’s had a remarkable career, spending nearly 27 years with Clearview Federal Credit Union, including 17 years as CEO, where he brought his unique HR and strategic planning background to the role.
IN THIS EPISODE:
- [2:53] Mark Brennan shares his background with US Airways and Clearview Federal Credit Union
- [7:59] The credit union was presented as a company benefit
- [17:36] Changing the name of the credit union and welcoming the community-required education
- [23:05] Collaborating with other credit unions and succession planning
- [29:16] Mark advises C-Suite people wanting to move forward
- [31:00] Mark shares his retirement lifestyle and his parting thoughts on the credit union industry
KEY TAKEAWAYS:
- Presenting a credit union as an employee benefit highlights its value and encourages employees to explore how it can support their financial well-being
- Credit unions prioritize community over competition, collaborating to strengthen local support, unlike banks that often focus on acquisitions
- Working at a credit union can be deeply fulfilling. Mark Brennan reflects fondly on his time at Clearview Federal Credit Union, sharing that the relationships with his coworkers and the supportive environment made it the highlight of his career
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Applied Valuation Services - Website
Mark Brennan - LinkedIn
This week, Mark is joined by Greg Schatzke of Servion to discuss the new real estate agency rules and how they impact credit unions. Greg also gives us a state of the world and discusses untapped options for credit unions.
IN THIS EPISODE:
- [2:33]Mark and Ashley introduce themselves
- [4:02] Servion Group has five businesses under its umbrella
- [7:00] Rules have changed for real estate contracts
- [11:14] Greg explains how the NAR changes have created additional paperwork, and there are no standardized documents across the nation
- [17:06] Ashley explains how this could open the door to discrimination
- [21:28] What sets mortgage lenders apart?
- [26:40] Ashley recommends that credit unions take assessments of their performance metrics in all phases of their business
- [28:27] Ashley reveals the key to success for a real estate agency partnering with a credit union
- [30:11] The guests make their predictions for the coming years for credit unions, real estate commission structures, and interest rates
KEY TAKEAWAYS:
- Servion has five business units under the Servion Group: Servion Mortgage, Servion Realty, Servion Residential Title, Servion Financial Advisors and Servion Commercial Loan Resources. All of these businesses work with credit unions across the country.
- The NAR settlement has reshaped the real estate market, increasing buyers' responsibility to understand and negotiate agent commissions. Nationwide, buyers now need to sign a representation agreement before viewing homes, pushing for greater commission transparency. States like Minnesota, already familiar with buyer representation, will reinforce these practices as buyers adjust to these new requirements.
- The NAR settlement means that casual home visits are more restricted—buyers can’t simply call the listing agent to see a property unless they've signed a buyer representation agreement. This adds transparency but makes the process more complex. The exception is open houses, where buyers can still look without needing an agreement, but that could lead to additional costs for the buyer down the road.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Servion - Website
Ashley Rabamahefa - LinkedIn
Greg Schatzky - LinkedIn
Contact Servion at 800-631-3111
BIOGRAPHY:
Greg Schatzke is the VP of Mortgage for the CUSO Servion based in Minnesota. In his role, Greg is responsible for overseeing the daily operations of Servion Mortgage and their 500+ retail, correspondent and wholesale partnerships.
Ashley is a dedicated professional in the real estate industry, currently serving as an Agent Coordinator and Realtor at Servion Realty. With a background as a Property Manager overseeing portfolios of over 500 units and leading multi-million dollar remodeling projects, Ashley's expertise extends across various facets of real estate.
Driven by a passion for helping people, Ashley transitioned to residential real estate as a Realtor, where she finds fulfillment in guiding clients through the home buying and selling process. Her commitment to making life-changing decisions more accessible for others is the cornerstone of her approach.
Beyond her work in real estate, Ashley is deeply involved in non-profit endeavors. As the Social Media Coordinator for Global Health Ministries in Fridley, MN, she contributes to strengthening health systems through access to medical equipment, support for community-based health care programs, and expert administrative consulting. Partnering for decades in resource-poor settings, Global Health Ministries focuses on leadership, medical supplies, and grassroots efforts to improve the health of vulnerable communities.
Ashley's professional journey is characterized by a dedication to excellence in real estate and a heartfelt commitment to making a positive impact through non-profit work.
Mark goes 1-on-1 with Erie FCU CEO Brian Waugaman on various topics in and out of the credit union space. What's it like to live in Erie? How did he navigate becoming CEO after a long tenure at the credit union? What's working and what needs work today? What is Brian's crystal ball on the future? All this and more as Mark Ritter and Brian chat it up.
IN THIS EPISODE:
- [1:32] Brian shares his career journey, and he arrived at Erie FCU
- [4:56] The history of Erie FCU and managing the business around Erie’s winter conditions
- [10:33] Brian discusses working his way through the organization and the importance of community
- [16:45] Brian talks about the process of becoming CDFI certification and his hopes to provide funding for small business owners
- [21:32] Brian discusses how to drive commerce, get involved in the community and market CDs to benefit members
- [27:50] What is the future of the credit union space
KEY TAKEAWAYS:
- When promoted within a company, success hinges on building trust and fostering cooperation with colleagues. Clear communication, defined responsibilities, and accountability are essential. Stay focused on the organization's vision and mission to lead effectively.
- Erie FCU refined its vision and mission to focus on becoming the most trusted financial resource in the region and delivering responsible financial solutions that meet community needs. These guiding principles shape the credit union's daily efforts and long-term success.
- Erie FCU sees technology and innovation as key future drivers. While member satisfaction has declined compared to larger banking competitors, the credit union recognizes the need to adapt to evolving technological expectations, similar to the "Amazon effect," to stay competitive and meet member needs.
RESOURCE LINKS
Mark Ritter - Website
Mark Ritter - LinkedIn
Brian Waugaman - Linkedin
Erie FCU - Website
BIOGRAPHY:
Brian Waugaman is a longtime veteran of Erie FCU and has been its CEO for the last ten years. He is well-rounded in his credit union skills and touched virtually all aspects of the institution during his tenure. Erie FCU is a CDFI focused on the communities in northwest PA.
Welcome to this episode of Credit Union Conversations with Mark Ritter, where we delve into the strategies that set credit unions apart in a competitive financial landscape. Today, Mark is joined by Bill McKenna from McKenna Marketing, who brings a wealth of experience from the advertising industry to the credit union space. Together, they explore the critical importance of building strong, core relationships with members, ensuring they feel valued and connected to their credit union. This connection is essential to prevent members from seeking alternatives and to maintain their loyalty. Bill shares actionable insights on branding, the challenges credit unions face in attracting and retaining members, and the evolving needs of the credit union community. Tune in as they discuss how a well-executed vision and a focus on member relationships can propel credit unions to the forefront of the industry.
IN THIS EPISODE:
- [0:24] Mark invites the listener to check out MBFS, which is an a la carte service provider
- [1:22] Mark introduces Bill, and he shares his journey from the advertising business to the credit union space
- [6:22] Bill describes what McKenna Marketing does, and Mark and Bill discuss the evolving credit union from days gone by
- [10:29] Bill discusses four topics that will remove obstacles and make way for the growth of your credit union, and they discuss which credit unions need deposits and not loans
- [15:37] Bill outlines the problems credit unions are having in attracting new members and keeping the members they currently have
- [19:20] Discussion surrounding competition and rising to the top of the competition
- [25:04 Discussion surrounding the sales and service culture and the benefit of face-to-face consultations
KEY TAKEAWAYS:
- The branding of your credit union is critical for recognition to your community
- A credit union must have a vision of where they are going, understand what opportunity looks like, and determine whether it can be a reality. Then, you must execute those ideas
- Building a relationship with members is the most essential thing a credit union can do. People want to know that you care about what’s important to them, so create value in your marketing message
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
MeKenna Marketing - Website
Bill McKenna - LinkedIn
BIOGRAPHY:
My passion is to learn more about you and your companies' goals. I'm passionate about building relationships, starting conversations, sharing ideas, and adding value to your organization. I've learned first-hand that no one person has all the answers. I'll learn from you first then we will combine our knowledge, experiences and expertise with the right partners to magnify opportunities, empower growth, and achieve results.
I've had the privilege of working with more than 500 credit unions and community banks nationwide on marketing and growth strategies. I don't know everything, but I've seen first-hand what works, and what does not. Every partner I've chosen to be part of McKenna Marketing Network brings a wealth of expertise, experience, vision and insights. It's not one size fits all - It's about identifying what works for you.
My roles have including Art Director, Creative Director, and Vice President of Marketing and New Business Development for several marketing and advertising agencies located in New York, New Jersey, and Pennsylvania.
I'm the former President and co-founder of Marketing Partners, Inc., a nationally recognized marketing firm that worked credit unions and banks. Also was the co-founder of Integrated Facilities Solutions, a company that designed and built branded financial facilities and CU Marketers of America, a niche credit union marketing company.
Most recently, I have served as Chief Marketing Officer for ESSA Bank & Trust, a nearly $2 billion dollar community bank with 21 branches in eastern Pennsylvania. My experience also includes the role of Vice President of Marketing for American Heritage Credit Union, a $4 billion dollar credit union located in Philadelphia.
Let's start a conversation! www.mckennanetwork.com
How does Julie get one of the most laid-back CEOs to organize the company and get the team focused? Find out when Julie and one of her most difficult engagements discuss the EOS process and benefits.
IN THIS EPISODE:
- [0:26] Mark describes how Julie has been a catalyst for MBFS
- [3:22] Julie shares her background that has brought her to the position she holds today
- [5:36] Julie defines EOS (Entrepreneurial Operating System) and outlines the tools: Vision, Traction, Healthy and she describes the type of companies she works with. Mark describes his need for these services
- [9:13] Julie describes the types of issues companies are experiencing, and she discusses delegation and leadership
- [13:46] Julie shares how she approaches an established CEO
- [16:40] Discussion about the traction component and the correct approach to vision creation and problem-solving
- [23:51] Julie shares personal information about her life
KEY TAKEAWAYS:
- EOS focuses on Vision, Traction and a Healthy environment for your business
- We live in a 90-day world, so leaders should meet every 90 days to ensure everyone is clear on the vision and analyze how the last quarter met those goals. An organization should set priorities for the next 90 days to ensure progress toward achieving the one-year plan, the three-year goal, and the ten-year target
- EOS is a program that teaches leaders to create leaders and ultimately makes everyone in the organization responsible for some portion of the vision you have for your business
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
EOS - Website
Julie Markee - LinkedIn
Julie's Chicken Blog
BIOGRAPHY:
Julie Markee is a lifelong entrepreneur who started her first business at 12 when she was the go-to swimming instructor in her neighborhood. She graduated from the University of Washington with a degree in Chemical Engineering and began her career as a process engineer. While her engineering mind allows her to find the quickest path to achieve the desired results intuitively, her real magic is her excellent communication skills that help others see the path and dare to follow along with her. What’s behind that magic? Her passion for people and her desire to help them reach their full potential. Julie is now an EOS implementer for companies nationwide--including MBFS.
What type of impact does credit union advocacy make? How important is it to the success of credit unions? Mark and Samantha Beeler of LSCU talk about everything that goes on at our trade associations outside of the conferences we attend. Also, what is the future of trade associations for credit unions?
IN THIS EPISODE:
- [0:25] Mark provides information about the services of MBFS and how he began his position at a credit union
- [2:32] Samantha shares her background, what brought her to her current position and an overview of the LSCU
- [5:59] Samantha discusses how LSCU is an advocate for credit unions and how they lobby lawmakers about what credit unions are doing in their communities
- [8:30] Discussion surrounding the familiarity of senators and members of Congress with the credit union space and how to take that sentiment and turn it into policy, and the differences between the accessibility of state and federal officials
- [13:10] Discussion of topics the LSCU is currently fighting for
- [17:28] Discussion of why LSCU is thriving and ways for Credit Unions to benefit from the LSCU without attending a conference
- [23:43] Samantha talks about becoming a partner with the National Trade Association
KEY TAKEAWAYS:
- LSCU represents the credit unions in Florida, Georgia and Alabama
- The Foundation is well known in the region because it helps with disaster response and professional development. The LSCU assists credit unions through a for-profit solution, advocacy or foundation solution
- LSCU is rolling out a program called Communities over a Connect platform, a free way for credit unions to gather
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Samantha Beeler - LinkedIn
Samantha Beeler - Newsletter
BIOGRAPHY:
Samantha Beeler is the President of the League of Southeastern Credit Unions (LSCU), the trade association for Georgia, Florida, and Alabama credit unions. She began her credit union journey at the Northwest Credit Union Association before transitioning to LSCU as its leader.
Bryan and Mark go round-robin on the state of the lending world and working with partners to build your lending program. What's the state of the world like in 2024? Bryan looks into his crystal ball to discuss what volumes will be like in 2024 and 2025. What's it like to get pitched by every potential lending partner in America every week? How do you separate the good partners from the pretenders?
IN THIS EPISODE:
- [1:43] Brian shares his background story and that of American Heritage
- [5:34] Brian reflects on how he ended up in the credit union space
- [9:29] Brian discusses the last four volatile years in the credit union field
- [13:45] Discussion of the anticipated events for 2024, what actually transpired, and predictions for the future.
- [21:22] Discussion of FinTechs and Bryan’s appreciation of them if they have shared values and common ideals
- [27:04] Discussion of NCUA, being transparent and doing due diligence to develop a clear plan
- [29:54] Brian discusses AI and the displacement of financial institutions, and he uses UBER as an example
- [33:07] Brian reflects on mistakes and lessons learned
KEY TAKEAWAYS:
- Today, we need to price the secondary market, meaning not just the rate but making sure we're originating based on our guidelines and practices. Then, we should consider making every loan on our balance sheet sellable
- From a member impact, this higher inflationary period meant higher loan payments and home purchase costs. Everything was higher, and you were getting less for your money. The credit impact was higher delinquency
- More importantly than having a plan to use FinTech, you must have a good problem to solve. If you don't have a significant problem, don't work with FinTech to implement a solution. Implement and work with a FinTech to solve a problem you're dealing with today
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Bryan Eichenbaum - LinkedIn
BIOGRAPHY:
Bryan Eichenbaum is the current SVP of Consumer Lending for American Heritage Credit Union, a $5B Credit Union headquartered in Philadelphia. He has over 20 years of experience in lending at various credit unions in New York and New Jersey. Bryan is considered an expert in cultivating strategic opportunities, building niche products and services that align with credit union demographics, mission and values, delivering strong business outcomes that build capital and sustained growth and positions credit unions to remain viable and relevant in a changing financial and economic landscape.
Today, Mark Ritter shares his insights on the state of credit unions and strategies for running a successful credit union. He discusses the challenges and benefits of working remotely and emphasizes building strong community relationships. Mark also offers his perspective on whether attending all available conferences is wise. His comprehensive analysis aims to guide credit union leaders toward sustainable success.
IN THIS EPISODE:
- [0:24] Mark gives an update on his life and MBFS, and discusses working remotely for himself and how other businesses manage to work remotely
- [5:02] Mark invites the listeners to reach out to mritter@mbfs.org with topics and guest suggestions for future podcasts
- [9:04] How MBFS can help Credit unions who are struggling as a neutral third party, and Mark discusses working with Inclusive, a National Trade Association of Community Development Credit Unions
- [11:06] Mark discusses the need for SBA loans, and he advises making lasting relationships to ensure success in the credit union space and seeking out the 95% who are not using a credit union
- [17:15] Mark discusses being on the road going to conferences and his desire to see conferences educate the attendees and discuss topics to problem-solve issues
- [21:36] Mark wants to provide value to credit unions, and he appreciates you, the listener
KEY TAKEAWAYS:
- Mark is interested in providing content through his podcast that listeners want to hear, so if a listener has a suggestion for a topic or a guest, contact Mark.
- Credit unions will be successful if they work hard to build relationships. Don’t rely on a large commercial loan to sustain you; instead, focus on the community, build relationships, and reach 95% of those not using credit union services.
- Conferences have become very expensive. It would be helpful to have more conferences that deal with the issues and problems a credit union faces rather than hear motivational speakers.
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Bill Beardsley of Michigan Business Connection joins our host, Mark Ritter today to hit a wide range of topics from the credit union and non-credit union worlds. Since Bill's office is in Ann Arbor and he's a Michigan State fan there will bound to be some Big Ten talk sprinkled in the conversation.
IN THIS EPISODE:
- [2:26] Bill shares his professional background
- [7:47] Discussion of the creation of QUOS and the NCOA
- [13:13] Bill discusses his role at NACUSO and its function
- [17:17] Bill explains what is working for credit unions in 2024 and what challenges he expects
- [25:07] Discussion of grooming people within the credit union space to continue the business when leadership positions become available and the way the NCUA could improve
- [32:07] Bill gives his advice on starting a new QSO
KEY TAKEAWAYS:
- The culture of the banking industry and the credit union space are vastly different. With a credit union, it is about relationship building in the community
- QUOS's success is due to its focus on the consumer rather than just making money
- Collaborative relationships among QUOS and credit unions create an atmosphere of cooperation and knowledge
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Michigan Business Connection - Website
NACUSO - Website
BIOGRAPHY:
Bill Beardsley is a financial services professional with more than 30 years of business and community organization leadership responsibilities. Led the start-up of the MBC "CUSO" in 2004 to energize and enable Michigan credit union success in commercial lending; now recognized as a leading CUSO in the USA with more than $1.5 Billion of commercial loan commitments under management. Board member for NACUSO, the national trade association for CUSOs, frequent industry event speaker related to CUSOs, collaboration, credit risk and commercial lending and personal advocate for the American Red Cross, American Foundation for Suicide Prevention and the Cystic Fibrosis Foundation.
Today, Mark is joined by Seth Brickman, President of Ranqx, to discuss small business digital lending. Seth shares insights from his time working with Microsoft and Amazon and how he uses what he’s learned to help small businesses.
IN THIS EPISODE:
- [2:22] Seth shares his background story leading him to Ranqx
- [4:08] Discussion of how lending to small businesses has been transformed by digitizing the process
- [7:18] Seth talks about what it was like working at Microsoft and Amazon
- [12:15] Seth compares working for billion-dollar companies to working in the credit union space and how to make a QSO run efficiently
- [20:39] Discussion of the automation of credit unions and changing focus to small business loans rather than property loans
- [26:01] Discussion that Ranqx was founded in New Zealand and how they are funded
KEY TAKEAWAYS:
- Credit unions care about people. Although they are in business to make money, they focus on customer care and service
- Lending money to small businesses helps communities prosper
- Automating the credit union process will ensure quicker decisions than in the past
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Seth Brickman LinkedIn
Seth Brickman - Email
Ranqx - Website
BIOGRAPHY:
Seth is an innovative leader with a successful track record of building software products customers love to use and transforming businesses through the use of data-based decision making and conversion rate optimization.
As Head of Product for Amazon and leading high performing technical teams at Microsoft and Carnival Corporation, he has seen many successes and has consistently grown customer satisfaction/engagement, revenue and EBITA.
As a veteran of the US Navy and MBA Adjunct Professor, Seth gets to regularly interact with future leaders and also grow his own knowledge base.
Lance Teinert and Mark Ritter get together to talk about the current state of education and student lending. Today's marketplace is interwoven with the political landscape, so Lance weighs in on how today's news headlines impact his business, CURevl.
IN THIS EPISODE:
- [3:02] Lance describes how he became involved in working with credit unions and weathering the storm we faced in 2018 and, subsequently, Covid
- [10:26] Lance explains how he derived the name for his QSO
- [15:30] Discussion on lack of planning for college education
- [19:55] Student lending programs taking a beating in the media
- [25:33] Confusion surrounding forgiveness of a federal versus private loan
- [28:22] Lane describes how his marketing team provides financial aid offices and college fairs with information regarding the credit union available to make loans
KEY TAKEAWAYS:
- Financial planning requires two things. Make a plan and then plan for the disaster
- Educational finance planning can be accomplished through your credit union
- Student loan forgiveness does not apply to private loans
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Lance Teinert - Email
BIOGRAPHY:
Lance Teinert celebrates a career of over 30 years in Education Finance, Financial Technology and Capital Markets by approaching life and business from an entrepreneurial perspective. Establishing and maintaining an ideal work-life balance is easy when you enjoy life both inside and outside of work.
Lance is currently the CEO of CURevl, a CUSO that is dedicated to connecting families with credit unions through education finance. Our unique approach to the business intertwines full service, capital markets support and software as a service, enabling credit unions to meet the needs of their members by partnering with experts that get the job done efficiently and effectively.
Alan Ropes and Mark Ritter discuss information security, an essential topic for our listeners. Mark admits he is not a detail guy by nature, but fortunately, VyFi is a Credit Union Service Organization, and they do a great job keeping members’ information private. Tune in for valuable information on keeping your data secure.
IN THIS EPISODE:
- [2:06] Alan shares the history of VyFi and how they partner with credit unions
- [6:58] Alan describes what is involved in protecting members’ information
- [12:14] Alan advises what a credit union should demand from third-party operators to safeguard data
- [15:41] Discussion of how data breaches can occur, and Alan gives examples
- [20:26] Discussion on how to determine the risk a credit union should take, and Alan explains how his job is to help a credit union and not be an adversary
- [26:56] Alan explains what you should do immediately if you have a data breach
KEY TAKEAWAYS:
- Information security comes in many forms. VyFi dives deep into where you store your data, that you have the controls in place, are practicing them, and that they work
- Good firewalls, perimeter security and passwords are critical. Employees must also follow the rules, and the right policies and procedures must be in place. If there is a breach, handle it immediately
- VyFi operates as the pre-exam before the NCUA gets involved
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Alan Ropes - Email
VyFi - Website
BIOGRAPHY:
Alan Ropes is currently the CEO of VyFi, LLC. VYFI is a Credit Union Service Organization (CUSO) with 100% ownership by Florida-based Launch Credit Union. We work to enable Credit Unions to meet their NCUA and state regulatory mandates in Information Security, Governance and Compliance.
MBFS and Miri have had an amazing journey together, and I’m thrilled to chat with her today. Tune in as she shares her extensive expertise in marketing and brand development. Miri also offers a unique take on AI and social media platforms. I hope you enjoy this episode of Credit Union Conversations.
IN THIS EPISODE:
- [2:22] Miri describes how Cowe Communications has evolved over the past nine years
- [5:18] How do you tell if you are selecting the correct marketing firm to assist you in business, and what questions to ask
- [10:01] How AI will be a game changer in the industry
- [16:06] Miri advises when non-creatives throw their personal preferences on overall business strategies without knowing what media their target audience consumes
- [20:09] Mark asks what media that was effective 10 to 15 years ago isn’t working and the benefit of the LinkedIn platform if done properly
- [31:15] Discussion about TikTok
KEY TAKEAWAYS:
- If someone solicits your business, ask them about their experience in your industry
- A marketing firm’s goals should align with your goals and vision; if they haven’t asked about your goals, this is not the company for you
- AI is an excellent tool for some applications; however, it lacks the personal relationship aspect for long-term ventures. It works well for suggesting ideas, but it takes a human to craft the best product
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Miri Rossitto - LinkedIn
Miri Rossitto - Email
Cowe - Website
BIOGRAPHY:
Miri Rossitto is the current CEO of Cowe Communications, a business and brand development firm specializing in strategic communications. Headquartered in Calabasas, California, Cowe's dynamic in-house team partners with companies and organizations of all sizes to help make them more efficient, wildly memorable, and significantly successful.
What are your borrowers thinking? What do they want to make you their preferred lender? Brandon Cobb joins Mark today to talk about what it is like to be a borrower and what credit unions can do to make real estate investors long-term and happy members.
IN THIS EPISODE:
- [2:26] Brandon shares his professional background, taking him to HBG Capital
- [7:27] Brandon gives his impression of what he thought a credit union was before he spoke to Mark
- [11:31] Interest rates have affected the real estate market, particularly with commercial property
- [15:29] Brandon speaks about the Nashville market
- [17:36] The cost of goods has stabilized somewhat over what it was three years ago; however, the situation with cargo ships has affected the arrival of goods
- [20:19] Brandon talks about the supply and demand for entry-level properties, and he suggests following the money
- [27:30] Brandon states what a suitable lender looks like to him
- [31:56] How to contact Brandon
KEY TAKEAWAYS:
- Many people believe that you have to be a member of a union to use the services of a credit union. That is untrue.
- Commercial property has decreased in value because the costs of upkeep and payment are higher. Many commercial properties are not occupied.
- When a market is affected negatively, it presents an opportunity to buy low.
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
HBG Capital Website
BIOGRAPHY:
Brandon Cobb is the CEO and founder of HBG Capital in Nashville, TN. HBG Capital is a vertically integrated real estate investment firm providing investors superior risk-adjusted returns built to be transparent for the investor and designed to be insulated against market volatility, secured by entry-level single-family residential real estate in Middle TN & value-add Class B & C multifamily in the southeast.
What has changed since MBFS started working with Weidenhammer? Basically everything. Jody and Mark make sense of the coming AI revolution and what we should be worried about these days with security.
IN THIS EPISODE:
- [2:00] Jody shares his background and professional career path
- [6:06] Jody explains how Weidenhammer is different than other tech firms and the evolution of AI
- [11:46] Discussion of the limitations and accuracy of Chat GPT and whether systems like this will remain free to the user
- [19:10] Good uses of AI, security, and what causes security breaches
- [26:28] How working from home has impacted the security world
- [28:22] What does Jody see happening around AI in the next five years
KEY TAKEAWAYS:
- Although the general public believes that AI and systems like Chat GPT are new creations, they have been running in the background for a long time.
- AI is an extremely expensive process, much more than a typical search engine, and companies will need to devise a way to recover that activity.
- Machine learning will make jobs more manageable in the future because it will absorb the mundane aspects of the job, giving more time for creative thinking.
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Weidenhammer Website
Jody Pillard LinkedIn
BIOGRAPHY:
Jody Pillard is the Chief Revenue Officer at Weidenhammer, a longtime MBFS partner. He likes to say that he helps IT folks have less stress, more time, and more recognition for their hard work.
Mark and Bob talk about the evolution of credit unions' relationship with auto dealers and indirect financing, what the pandemic was like, and what it is like to finance vehicles these days.
IN THIS EPISODE:
- [0:51] Mark describes why he needed to purchase his first pickup truck
- [2:24] Bob shares his professional background
- [4:08] Discussion about liquidity and interest rates
- [8:13] Bob discusses lending during the pandemic and how the value of automobiles has risen
- [11:18] The value of a Tesla and the impact of the battery cost and which are the better-selling vehicles
- [17:47] Discussion of the inventory of new vehicles and how online shopping has impacted the credit union business in terms of providing loans
- [24:05] Bob talks about the due diligence needed to work with a dealership
KEY TAKEAWAYS:
- During the pandemic, parts were difficult to source for new cars, and dealers had low inventory. They realized that they didn’t need to carry such a large inventory because people would wait for a car they had ordered.
- The impact of purchasing batteries for cars like a Tesla hasn’t been felt yet. It will be interesting to see whether a vehicle with a new battery will have a higher value.
- Online shopping has impacted the car lending business. The finance companies show up on a drop-down menu, and credit unions won’t have a significant space to be seen.
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Keystone Lending Alliance Website
BIOGRAPHY: Bob Brant
For the past 15+ years, Bob Brant has been the CEO of Keystone Lending Alliance. KLA is a western PA-based CUSO specializing in facilitating auto financing for members throughout the northeast United States
Nolan Bradbury joins Mark today to talk about the relationship between lender, accountant, and member. Also, what is the best way to manage debt load? What does the conversation look like between accountant and business owner when they talk about lenders? Nolan and Mark look under the covers to talk about what lenders should know.
IN THIS EPISODE:
- [1:52] Nolan shares his professional journey and how his firm is dedicated to helping small business owners succeed
- [5:16] Nolan gives his perspective on carrying debt as a small business owner, and he discusses lines of credits
- [9:55] Nolan advises what people should be looking for in a financial institution based on their needs and the support they are seeking
- [15:19] Discussion of the requirements and covenants of the loan documents and why they should be read and understood
- [19:41] Nolan describes his favorite clients
- [23:15] Nolan outlines what he wishes lenders knew and would do differently
- [27:42] Nolan shares his contact information
KEY TAKEAWAYS:
- Carrying debt as a business owner is a cost-effective way to scale a business without giving up control or equity. Being smart about debt is critical.
- Getting a line of credit is easier when you don’t need it, but be wise in how you use it.
- Not all lenders are the same. Some predatory lenders will take advantage of the relationship or the small business owner.
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Bradfield Co. - Website
Nolan Bradbury - LinkedIn
BIOGRAPHY: Nolan Bradbury
Nolan Bradbury is the owner of Bradfield Accounting in Washington state. He consults with business owners nationwide on how to maximize their business results and manage their finances.
What's the value? Noelle McDonald can help. The commercial real estate market is upside down today. Mark and Noelle talk about the current state of the appraisal marketplace and what lenders should be on the lookout for now and in the future.
IN THIS EPISODE:
- [1:16] Noelle shares her background and describes what Lender Consulting Services does
- [6:49] The appraisal industry is aging people out, and new people are not coming into the field because becoming an appraiser is challenging because of the requirements
- [12:42] Noelle discusses aspects of the process that people are not aware of
- [16:37] Noelle talks about how she deals with the emotions of the appraisal and how appraisers are coping with the uncertain landscape of commercial appraisals
- [23:10] Noelle is wary of new technology, where you can have valuations done cheaper, faster, and quicker on the fly.
KEY TAKEAWAYS:
- Often, there needs to be more communication between the appraiser and the entity that will process the loan. People need to understand that once the appraisal is done, it is done.
- Appraisers are being aged out, and the training involved in becoming an appraiser is vigorous and much more complicated than in the past.
- Appraising commercial property has changed since COVID. There are so many empty office spaces that values are bound to be affected. Appraisers are catching up on the data they need to do their job. Interest rates have also changed the landscape. It all affects the appraisal.
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Lender Services Website
Noelle McDonald LinkedIn
BIOGRAPHY: Noelle McDonald
Noelle McDonald is the VP of Valuation Services for Lender Consulting Services. With over twenty years of experience, she leads one of the leading lender support companies in the country through a variety of commercial appraisal requests.
Mark Treichel and Mark Ritter talk about their respective backgrounds and what it is like on both sides of the examination process. They also talk about the current state of the NCUA and staffing levels. When should you take on examiners and when to back off? Mark and Mark talk about different strategies.
IN THIS EPISODE:
- [0:52] Mark Ritter introduces his guest and the topic of NCUA Examinations
- [1:55] Mark Treichel shares his background story
- [5:35] Mark Ritter shares his background story
- [7:50] Mark Treichel discusses how the industry has changed over 34 years
- [9:24] Discussion of the NCUA board meeting on YouTube and what the board has planned for the future
- [14:04] Discussion of liquidity
- [16:52] Mark Treichel suggests that credit unions keep their examiner informed and build a working relationship
- [19:50] Telltale signs of a flawed and incomplete loan paper documentation and discussion of small credit unions
KEY TAKEAWAYS:
- Thirty-four years ago, who would have thought that your only choice was to go to a credit union or the ATM? Members can now apply for a loan without them physically entering a branch. There are fewer credit unions than there were back then, and there is an extensive use of third parties.
- Mark Treichel predicts that Chairman Harper will bring forth a rule that there will be a regulation on succession planning, which would only impact federal charters.
- An Examiner can tell if the credit union has done their job by looking at the loan papers. They also can learn by reviewing the documents of loans that were denied and ones that were approved.
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
Mark Treichel Website
Mark Treichel Linkedin
Mark Treichel Phone - 407-493-1180
BIOGRAPHY: Mark Treichel
After a 33-year career at NCUA, Mark Treichel served as Executive Director, Regional Director, Director of Special Actions, Supervisory Examiner, and Principal Examiner. He knows how NCUA thinks, why they think it, and the examination process inside and out. Today, he runs a consultancy practice where he assists credit unions with the examination process.
Mark and Jeff discuss Jeff's background and the mission of River City FCU. Jeff explains the value of CDFI status that credit unions can access. Jeff and Mark have a lengthy discussion about the value of credit unions of all sizes and the purpose credit unions have in today's economy, along with ideas on how to maintain the number of credit unions in the United States.
IN THIS EPISODE:
- [0:48] Mark describes his business goals
- [2:53] Jeff shares his background and how his credit union serves the Hispanic community of San Antonio, TX
- [7:40] Jeff discusses the advantages of serving the Hispanic community
- [11:24] Members need to understand that a credit union that is insured by the NUCA is safe, and their money is protected
- [12:59] Discussion on small credit unions and the importance they have in the marketplace for minority neighborhoods and how some larger credit unions have left the minority communities behind
- [20:55] Mark and Jeff discuss succession planning when a CEO retires
- [25:01] Jeff describes what it is like regarding companies approaching him who want to merge and what he would do to grow the number of small credit unions
KEY TAKEAWAYS:
- River City FCU serves the Hispanic community in San Antonio, TX in many ways. One important service is to provide lending, which helps a person establish themselves in the United States and is also better for the economy because they don’t require government assistance.
- Credit unions need to adapt to the ethnic communities in their area by understanding the needs and goals of the people and offering services to meet those goals. One size does not fit all.
- If a large credit union acquires a small credit union and closes its doors, it damages the entire premise of a credit union helping the community they are in.
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
River City Credit Union Website
Jeff Ivey’s Phone Number: 210-244-2545
BIOGRAPHY:
Jeff Ivey is the current CEO of River City FCU in San Antonio, TX. River City is a CDFI-designated institution serving consumers since 1936. Jeff has also been a board member of Inclusive. Previous to his current position, Jeff helped credit unions with strategic planning and CDFI opportunities.
Craig and Mark talk about the old days of commercial lending in credit unions and how the dynamics between CUSO and CU’s have changed over the years. They also review the best practices in utilizing third parties to assist your lending operations.
IN THIS EPISODE:
- [0:24] Mark discusses what MBFS does and how it can assist credit unions.
- [2:17] Craig describes his background and professional history.
- [3:28] Discussion of the history of CUSOs and how they have developed over the years.
- [6:04] Credit Unions require specialized guidance across various domains, relying on individuals who excel in specific areas rather than expecting one person to have expertise in all areas.
- [8:20] Benefits of having relationship managers and problems that arise when you don’t.
- [11:13] The advantage of third-party oversight who goes in and out when needed is that they can assist a credit union better and faster in reaching goals.
- [13:57] Craig shares the history of guiding credit unions and members through difficult economic years to the advantage of both parties and how annual reviews can prevent issues.
- [19:36] How a CUSO builds scale and neutrality, why examining policies once in a while is helpful and reaching out for non-judgmental help is wise.
KEY TAKEAWAYS:
- CUSOs are specialized and have experts in many different areas that can speak specifically to originations, credit, closing of loans, portfolio management, SBA loans, etc., to ensure credit union partners receive the expertise necessary for the specific portion of their credit union that needs the assistance.
- It's hard to build relationships, but if you have worked with a borrower frequently, you know they will bring you a quality loan and have the financial wherewithal to back up their requests. If it's an SBA loan, you know they understand the intricacies of the paperwork involved.
- Don't be embarrassed if you need some temporary help. Loans can go sideways. There is help available, and it is nonjudgmental.
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
BIOGRAPHY:
Craig Page is the Chief Revenue Officer at MBFS. He joined MBFS after a long career of successfully leading CUSOs and as an executive in commercial real estate financing.
Where has the time gone? Mark and Jeff look back at what they said a year ago to see how accurate their predictions were. They also take a look at how 2023 played out, both good and bad and what CUs should be doing to plan for the future.
IN THIS EPISODE:
- [1:40] Jeff shares his duties and responsibilities at MBFS.
- [2:00] Mark and Jeff discuss how things shifted in 2023. The hope is things will stabilize in 2024, but most likely will not improve.
- [5:55] Discussion regarding credit quality and dealing with delinquency rising into 2024 if credit unions don’t take a proactive approach.
- [11:06] SBA loans will benefit credit unions. Credit unions should become familiar with these government-backed loans even though they are somewhat more time-consuming.
- [13:53] Discussion about how a credit union deals with higher interest rates impacting profitability.
- [17:01] What does the future hold in 2024, and why planning and communication are essential.
KEY TAKEAWAYS:
- Planning for the possible ups and downs in the foreseeable future is critical. Communication with staff, members, and clients is essential to the planning for 2024.
- Good credit quality is necessary to maintain successful lending. However, long before it becomes an issue that is difficult to deal with, delinquency is part of the process and should be addressed. Again, communication is key.
- Loans enjoying a low interest rate will be coming due, and refinancing those loans will create a hardship for the borrower. Higher interest rates have already impacted the housing market.
RESOURCE LINKS
Mark Ritter Website
Mark Ritter LinkedIn
BIOGRAPHY:
Jeff Lyons is the COO of MBFS. In his role, he currently oversees the credit, loan originations, and SBA loan functions. Jeff has a long career in banking and a small business owner.
How do we REALLY do as an industry? In today's solo episode, Mark looks at the principles of the credit union industry and grades each area to see where we excel and where we can improve.
IN THIS EPISODE:
- [01:19] Mark will evaluate how credit unions are doing.
- [03:43] Voluntary and open membership gets an A+.
- [06:18] Democratic member control gets a D.
- [09:37] Member economic participation gets an A.
- [12:52] Autonomy and independence get a B.
- [16:14] Education, training, and information get an A+.
- [18:09] Cooperation among cooperatives get B+.
- [21:40] Concern for the community gets an Incomplete.
- [24:34] Diversity, equity and inclusion get a B-.
KEY TAKEAWAYS:
- In the past, you had to be an employee of a particular business to join their credit union. Today there is open membership which allows for competition and better options.
- Outside influences influence a credit union. Previously, a car loan was obtained from your local credit union. Now the dealership does the loan.
- The cooperation between credit unions and other organizations like MBFS is a positive for the industry.
RESOURCE LINKS
Mark Ritter Website
After talking about John's background in the mortgage business, Mark and John talk about the boom times over the last few years and low-interest cycles. John talks about the current regulatory climate today and what he expects the mortgage market to look like over the next few years.
IN THIS EPISODE:
- [2:22] John describes how First Heritage operates and his professional background
- [5:52] John explains how he evaluates and reacts to the ups and downs of interest rates
- [9:19] What makes a credit union successful in the mortgage business as opposed to those that are not
- [12:45] John discusses government loans and how interest rates during the pandemic have affected the housing market
- [17:18] John talks about the reasons that apartment and condo construction is up, the shortage of new homes and the amount of down payment required to purchase
- [21:54] John discusses retaining mortgages, selling the mortgages, and liquidity solutions overall for credit unions
- [25:22] John gives his short and long-term mortgage predictions
KEY TAKEAWAYS:
- First Heritage provides services and skill sets unavailable within most credit unions.
- There has been a housing recession since June of 2022. Home prices increased in value at a steep rate, and mortgage rates followed, resulting in a problem with the housing cycle and a lack of inventory.
- The average down payment required to purchase a home is $60,000.
- FHA, VA, and USDA can assist with lower down payments, making it possible for first-time home buyers to purchase.
RESOURCE LINKS:
Mark Ritter Website
MBFS - Website
Mark Ritter - LinkedIn
First Heritage - Website
John Giordano - Email
BIOGRAPHY:
John Giordano is a longtime mortgage industry veteran and is currently the CEO of First Heritage Mortgage Services. First Heritage assists credit unions nationwide with all things residential mortgages.
Joining Mark today is one of his favorite people in the credit union space along with being the most inspirational. Alisha Martin's journey is one of resilience and perseverance. Today, Alisha runs the business development efforts at Suncoast and Mark and Alisha talk about what works and what doesn't in today's marketplace to acquire new members.
IN THIS EPISODE:
- [01:54] Alisha introduces herself and shares her background and work story.
- [5:19] Alisha explains what Suncoast does and how they are customer-friendly.
- [9:09] Alisha describes her role as Vice President of Development for Suncoast Credit Union.
- [13:00] Mark asks Alisha to share a personal story that might have been devastating; however, Alisha has determination and overcomes.
- [22:46] Alisha discusses the importance of aligning yourself with individuals you want to work with.
- [28:09] Alisha shares her approach to her position as Vice President of Development for Suncoast Credit Union.
- [32:57] Alisha admits that she is shy and tells how she finds balance in her position.
KEY TAKEAWAYS:
- Suncoast is the largest credit union in Florida, having just crossed 14.4 billion in deposits.
- Suncoast Credit Union is customer-friendly and tries to do whatever it takes to work with its members.
- When life takes you in a direction you never saw coming and wouldn’t wish on anyone, attitude, determination and inner strength can turn it around for the better.
RESOURCE LINKS:
Mark Ritter Website
MBFS - Website
Mark Ritter - LinkedIn
Alisha Martin - Website
Alisha Martin - Email
BIOGRAPHY:
Alisha has lived in Lakeland for the last 20 years. 15 of those years have been focused on banking and commercial real estate. With degrees in Business Administration, Business Management, and International Business, she has originated, syndicated, and serviced commercial loans with credit unions nationwide.
As the Vice President of Development for Suncoast Credit Union, she is focused on growth opportunities and relationships in the surrounding areas in Central Florida.
Deposits. Everyone is looking for them, and no one seems to have the magic bullet---except John Ballantyne. Mark and John discuss the benefits of a commercial deposit focus and strategies to succeed in this line of business.
IN THIS EPISODE:
- [0:44] Mark explains what today’s episode is about.
- [2:12] John discusses his background and how he became CEO of Tru Treasury, and he talks about being a Blackhawk helicopter aviator.
- [4:43] John goes into the details of starting Tru Treasury during Covid.
- [8:59] Mark and John discuss why knowing which core system is used is important.
- [13:58] John and Mark reflect on how in 1998, the rules changed to permit credit unions to engage with businesses and what makes a credit union successful in meeting the needs of a business member.
- [20:17] John says credit unions are about people helping people and how if you have the right services, the deposits will follow.
- [27:03] John advises credit union executives on the best opportunities over the next few years and taking advantage of low-hanging fruit.
KEY TAKEAWAYS:
- [4:51] John describes how he had time to figure out the treasury management services and be a third-party provider to credit unions.
- [9:16] John discusses why you need to know the core system the credit union is using.
- [15:29] John describes what makes a credit union successful when serving the complete business member.
RESOURCE LINKS:
Mark Ritter Website
MBFS - Website
Mark Ritter - LinkedIn
Tru Treasury - Website
John Ballantyne - Tru Treasury LinkedIn
BIOGRAPHY:
John Ballantyne has been the CEO of Tru Treasury since its founding. After a distinguished career in the US Army, John spent several years working in the treasury management area for a large bank and owning his own financial services firm.
If you like college football talk sprinkled in with your credit union talk, this is the episode for you. Mark and Andy catch up on Penn State football before a deep dive into how LoanStar helps credit unions and the current lending/regulatory environment.
IN THIS EPISODE:
- [02:32] Andrew shares his background before starting Lone Star Technologies.
- [5:18] Andrew explains what Lone Star does.
- [8:14] Mark and Andrew talk about Penn State football.
- [10:26] Andrew discusses what surprised him about working with credit unions.
- [13:39] Andrew explains how he flips around the conversation with a credit union to include what kind of portfolio they are looking for.
- [19:53] Andrew discusses the diversity and expertise his firm brings to the table.
- [23:45] Andrew talks about his business during the pandemic.
- [28:29] Andrew predicts opportunities that could evolve in the future.
KEY TAKEAWAYS:
- [6:14] Lone Star Technologies partners with credit unions to provide a transparent product everyone understands.
- [16:17] Andrew describes what sets people in the merchant lending business apart to make them more successful than some peers.
- [19:53] Andrew discusses the diversity and expertise Lone Star Technologies brings to the table
RESOURCE LINKS:
Mark Ritter Website
MBFS - Website
Mark Ritter - LinkedIn
Lone Star Technologies - Website
Andrew Turner - Website
BIOGRAPHY:
Andy Turner has been the CEO of LoanStar Technologies for the past seven years. LoanStar works with credit unions and small businesses to bring merchant financing to lenders nationwide. Prior to founding LoanStar, Andy was an executive for financial services software companies.
Your portfolio is clean now, and "everyone is paying." Good loans sometimes go bad, and it will undoubtedly happen to your portfolio at some point. Craig and Mark talk about the history lessons of the Great Recession and how to tackle your portfolio in the future when bumps in the road happen.
IN THIS EPISODE:
- [02:58] Craig shares his background and history working in the financial industry.
- [04:57] Craig reflects on the recession when they had many coastal properties and being aware of the warning signs.
- [07:03] During the recession, there was a lack of awareness that the market wouldn’t bounce back in a few months.
- [11:02] Many people feel that real estate only goes up, and Craig also points out that commercial property still has many vacancies.
- [15:12] Craig shares his feelings on commercial real estate, and his biggest concern is office space.
- [17:47] The red flags of not paying property taxes and deferred maintenance.
- [21:07] Craig explains how he would approach delinquency with a commercial property.
KEY TAKEAWAYS:
- During the recession, borrowers were unwilling to admit they were having problems. When visiting with a borrower about a delinquency, make sure you know the laws governing the situation.
- Lenders must be proactive in annual reviews to ensure all is well with their properties and borrowers.
- Three red flags that a property owner may be in trouble are them not paying their property taxes, property insurance and deferred maintenance.
RESOURCE LINKS:
Mark Ritter Website
MBFS - Website
Mark Ritter - LinkedIn
Craig Page - LinkedIn
BIOGRAPHY:
Craig Page is the Chief Revenue Officer at MBFS. After a long career as the CEO of two business lending CUSOs, Craig joined MBFS to lead the national loan originations at the CUSO, along with helping guide the strategic direction of the organization.
Let's talk about some of the great things credit unions do every day! The CrossState Foundation executes the playbook on many of the wonderful initiatives for our industry. Sue and Mark talk about what goes on behind the scenes carrying out this crucial mission of credit unions.
IN THIS EPISODE:
- [02:46] Sue shares her journey to her current position at the CrossState Foundation
- [05:27] Sue reflects on her surprise when starting her job. She learned how credit unions nationwide work together
- [08:04] Sue explains how her foundation focuses on promoting financial credit union certification, reality fairs and financial wellness workshops
- [10:49] Sue talks about the National Credit Union Foundation hosting what is called prom night
- [12:24] Sue shares information regarding CU Kind Day
- [15:34] Younger adults are helping propel focus on serving the community
- [17:43] Sue explains how Financial Reality Fairs work
- [23:36] Sue gives an example of a teenager who had been to a Reality Fair
- [27:06] Sue encourages listeners to participate in programs that promote education and their communities
KEY TAKEAWAYS:
- Many people do not know how Credit Unions are committed to helping people in the community
- Financial Reality Fairs are beneficial to high schoolers by assisting them to plan and stay on a budget,
- The National Credit Union Foundation promotes prom night, providing gowns for girls who otherwise could not afford them.
RESOURCE LINKS:
Mark Ritter Website
CrossStates - Website
BIOGRAPHY:
Sue Ward-Diorio is the current Executive director of the CrossState Foundation. CrossState Credit Union Association is the trade association for all Pennsylvania and New Jersey credit unions. Sue joined the credit union industry in 2022 after a long career in non-profits in central PA.
Joe and Mark talk about the state of the industry and what we see on the horizon. Joe also gives a profile of his strategy for investing in CUSOs and what he looks for in a CUSO investment.
IN THIS EPISODE:
- [01:51] Joe shares his background and journey to where he is today.
- [04:01] Mark and Joe agree that it is a disservice to an employee to specialize in an area as opposed to learning the entire strategy of a Credit Union.
- [06:30] Joe says being flexible in mindset and where you live expands your opportunities.
- [09:20] Joe discusses CUSOs and why he sees it as a growth strategy.
- [14:25] Joe explains why the business units and other interdepartmental teams are so important.
- [19:34] Joe shares the importance of constant learning and integrity and how he would advise someone who desires to be a CEO.
- [24:29] Joe talks about his experience moving to Launch and discusses liquidity in the industry and how to rectify that problem.
- [31:33] Joe makes guesses on interest rates; he discusses the shrinking labor force and states that succession planning is critical for the organization.
KEY TAKEAWAYS:
- CuSOs allow you to compete with larger competitors and are a way to scale business.
- A CEO must communicate to their team that when they propose an idea, it doesn't automatically require execution; instead, it's something they wish to deliberate with the team.
- Understanding the culture of a new office you transition to is essential. Inquire about the reasons behind their established practices rather than making immediate changes because they differ from your previous approach.
RESOURCE LINKS:
Mark Ritter Website
Joe Mirachi - LinkedIn
BIOGRAPHY:
Joe Mirachi is a credit union veteran who has served as the CEO of Launch CU in Florida for the last eleven years. Before Launch, Joe served as the CEO and held other executive roles at credit unions in New Mexico. Launch CU, and Joe is an industry leader in investing and assisting in CUSOs.
Mark & Rick travel down a compliance journey today to talk about best practices in compliance and some of the pitfalls of not keeping on top of it at your organization.
Connect with Rick and his team at https://compliance4creditunions.com/
IN THIS EPISODE:
- [02:47] Rick shares his background and current position at Compliance 4 Credit Unions.
- [07:56] Rick discusses what has surprised him as the credit union space was developing.
- [10:56] Expertise in the field, as opposed to being a generalist, has made a difference in the operation of credit unions.
- [12:55] An explanation of the new NCUA rule.
- [22:17] Rick talks about the difference between having expensive staff and hiring outside help.
- [26:13] What hot buttons does Rick see coming, and what items need monitoring?
- [30:43] Rick refers back to his best crazy stories.
- [33:55] Rick invites listeners to check out the references for Compliance 4 Credit Unions and to feel free to contact him.
KEY TAKEAWAYS:
- The NCUA rule will make significant changes, resulting in a better working atmosphere at the credit union site.
- Make sure you remove private information when sharing document templates.
- The new NCUA rule will assist credit unions in dealing with difficult members.
RESOURCE LINKS:
Mark Ritter Website
Compliance 4 Credit Unions Website
Ricks Email
BIOGRAPHY:
Rick Wargo is the Chief Operating Officer of Compliance 4 Credit Unions, a collaborative compliance consulting CUSO. Rick has nearly 30 years of experience working with financial institutions, chiefly credit unions. He started his career with the Pennsylvania Department of Banking and then devoted 24 years to the credit union movement, serving in compliance and advocacy roles for the Pennsylvania Credit Union Association. Rick also gained valuable transactional experience as an Assistant Counsel for PHEAA, a student loan servicing organization.
Rick re-entered the credit union space in 2017, serving as an independent consultant. That journey spawned the creation of Compliance 4 Credit Unions in 2019. Rick continues to build the CUSO’s infrastructure while advancing the compliance interests of participating credit unions.
It's time to take a walk down memory lane and review the wackiest and wildest loan program ever: the Paycheck Protection Program. Omar Shute of DFTC and Jeff Lyons of MBFS joined us for a topic that we couldn't fit into just one episode.
IN THIS EPISODE:
- [00:31] Mark gives an overview of Part One.
- [01:35] The expectation of how long the PPP loans would last.
- [03:36] Jeff describes the second round of PPP loans, and Omar shares his view of Part Two of PPP loans and how technology assisted the process.
- [11:22] Jeff and Mark talk about the eligibility for the second round of PPP loans.
- [18:23] Jeff reflects on how business owners admittedly stated they didn’t need the money, but it was free.
- [20:37] Omar suggests which industries should have received the money, and Jeff talks about the forgiveness process.
- [26:50] What worked well on the PPP and what didn’t work.
KEY TAKEAWAYS:
- The PPP Loan Round One wasted a lot of taxpayer dollars.
- By the time Round Two of PPP Loans began, institutions could make more money because they had worked out the kinks they experienced in Round One.
- The PPP loans are responsible for the inflation we have today.
RESOURCE LINKS:
Mark Ritter Website
DFTC Inc. Website
BIOGRAPHY: Omar Shute is the Senior Vice President of Commercial Services at Development Finance Training and Consulting Inc. (DFTC). In this role, he oversees commercial underwriting and participates in all the related suites of services offered by DFTC. Omar has 20 years of commercial lending experience, and his career background encompasses commercial loan origination, relationship management, commercial loan underwriting, credit administration, commercial portfolio management, policy generation, and senior leadership experience, including working with boards of directors.
It's time to take a walk down memory lane and review the wackiest and wildest loan program ever: the Paycheck Protection Program. Omar Shute of DFTC and Jeff Lyons of MBFS joined us for a topic that we couldn't fit into just one episode.
IN THIS EPISODE:
- [02:31] Jeff and Omar introduce themselves and share their responsibilities at their respective firms.
- [04:24] Jeff’s view of the history of PPP loans and Omar reflects on the beginning phase of PPP loans.
- [08:12] Mark remembers the chaos, Jeff shares his perspective and Omar talks about rules changing three times a day.
- [13:34] Mark and Jeff speak about the bad actors, fraud and loan farms.
- [19:31] Omar reflects on how the credit union prevented fraud.
- [21:33] Mark tells about the largest fraud case.
- [26:07] Jeff and Omar discuss the systems in place to make the program work.
KEY TAKEAWAYS:
- The PPP loan program was vulnerable from the start because it was rushed, and there were no clear guidelines.
- The government was just asking for fraud because the regulations were so loose, and unfortunately, FinTech wasn’t doing its job.
- The credit unions stepped up and did what was necessary to care for customers while protecting the taxpayer.
RESOURCE LINKS
Mark Ritter Website
BIOGRAPHY: Omar Shute is the Senior Vice President of Commercial Services at Development Finance Training and Consulting Inc. (DFTC). In this role, he oversees commercial underwriting and participates on all the related suite of services offered by DFTC. Omar has 20 years of commercial lending experience and his career background encompasses commercial loan origination, relationship management, commercial loan underwriting, credit administration, commercial portfolio management, policy generation, and senior leadership experience including working with boards of directors.
Sean and Mark hit up a variety of topics to talk about the state of the mortgage industry today and how lenders can keep up with all the necessary compliance. Also, why have credit unions gotten so complicated? Mark and Sean take a deep dive into credit reporting and where it was, and where it is going.
IN THIS EPISODE:
- [01:44] Sean describes his role at United One, the areas of service United One provides, and the current state of the mortgage market.
- [12:05] How are appraisers dealing with values in the marketplace, how does an automated valuation tool come into play, and why is it difficult to become an appraiser?
- [21:39] How the credit report has changed over the years.
- [26:02] Explaining the difference between Credit Karma and other reporting agencies and Sean's opinion of a non-traditional credit scoring system.
- [30:54] Sean explains credit leads versus retention triggers.
- [38:25] New changes coming in the appraisal regulation process.
KEY TAKEAWAYS:
- It is a tough market for lenders in the residential sales market. The problem is they need more inventory, and buyers need to be able to find an affordable house and win the bid.
- Because home sales are scarce, lenders must work hard, align themselves with the right partners and real estate agents and continue growing their base.
- Many people may not sell their homes for a long time because of the low-interest rate they have.
RESOURCE LINKS
Mark Ritter Website
United One - Website
Sean's Phone Number: 570-706-2830
Sean's Email: shiggins@unitedone.com
BIOGRAPHY: Sean Higgins is the longtime executive of United One Resources in Wilkes-Barre, PA and the current Executive Vice President of the organization. For over 100 years, United One has supported the lending and real estate communities with a variety of solutions and services, including credit reports, appraisal management services, property reports, flood zone determinations, fraud reports, tax monitoring, title insurance and settlement services. United One provides a competitive advantage for lenders to move quickly from approval to close with confidence.
We all say we want to help small businesses but sometimes struggle to help growing businesses meet their cash flow demands. Mark and Pat talk about the challenges of wrapping your head around the credit culture, risk, and management of properly funding small business owners at the credit union.
IN THIS EPISODE:
- [02:27] Pat shares his banking and credit union background.
- [04:08] How were people trained in the ’80s to learn commercial lending from the ground up?
- [07:44] How did Lendovative get started, and what is the vision?
- [10:56] What are the statistics that support opportunities for credit unions to service small businesses?
- [17:07] Pat discusses the funding of small businesses and finding the middle ground of overseeing lines of credit and how meaningful the relationship between the borrower and the lender is.
- [25:21] Lendovative will partner with MBFS to provide new technology to assist credit unions in their day-to-day practices.
KEY TAKEAWAYS:
- Lendovative is a company that puts lenders and borrowers on the same page, and they can increase transparency and communication.
- The growth in small businesses from 2019 to today went from 31 million to 33 million.
- The goal of a credit union should be to have a complete relationship with a client. That is achieved by having their checking, savings, and loans all serviced by the credit union.
RESOURCE LINKS
Mark Ritter Website
Lendovative Website
BIOGRAPHY: Patrick True
After a long career helping financial institutions at Jack Henry, Patrick True has transferred to become the President of Lendovative. Lendovative's mission is to support community-centered financial institutions in the United States by empowering them to enhance business-client relationships while reducing credit risk.
What's changed since the last time Kristina was on the show? A lot. Mark and Kristina talk through what it is like to analyze and decide on lending in today's "new normal."
IN THIS EPISODE:
- [00:35] Mark explains what MBFS or Member Business Financial Services does, and Kristina explains her role at MBFS and how the company has grown since its inception.
- [08:19] Kristina explains the pros and cons of working from home.
- [13:32] Kristina discusses how the higher interest rate is impacting the lending business and how those rates are impacting the economy in general.
- [19:30] Kristina talks about the affordability of real estate and how the value of the real estate and its cash flow could be devalued.
- [21:46] Kristina believes that credit unions should get back to basics and inform, educate and give options to borrowers who may need to renew a loan.
- [25:28] Discussion of the lack of residential apartment units and low inventory of homes available.
- [28:05] Discussion of warehouse space compared to office space and shopping malls and location, location, location.
KEY TAKEAWAYS:
- Interest rates have affected the housing market; however, a credit union is still a great place to visit to obtain financing.
- The necessity for office space is declining because of employees working remotely.
- Destination malls are still thriving; however, many malls are nearly vacant.
RESOURCE LINKS
Mark Ritter - Website
BIOGRAPHY:
Kristina Paulson is the AVP of Credit Services at MBFS. After a career in banking, Kristina shifted to credit unions to assist in credit analysis. Today she leads the team's credit analysis on new loans, annual reviews and portfolio management.
After talking about the boom times in the pandemic, Mark and Dustin reset about what it takes to manage the sales and strategy for a large credit union in 2023 and beyond. Mark and Dustin do quite a bit of prognostication in this episode, so we will revisit it next year to see if they are right!
IN THIS EPISODE:
- [02:20] Dustin shares his working history through the banking field to the Credit Union industry.
- [07:10] Dustin tells the genesis of Clearview Federal Credit Union, where he is the VP of Lending.
- [09:18] Dustin talks about the differences between living in Albuquerque and the PA area.
- [12:53] What is the outlook for the liquidity situation in attracting deposits in 2023, and how do geographic limitations affect the Credit Union?
- [19:13] Dustin discusses the car lending aspect of the Credit Union.
- [23:53] Discussion of the home equity and mortgage markets and how homeowners may be staying in their homes just to keep the low-interest rate.
- [31:32] Discussion of the commercial real estate market and the challenges that exist, and Dustin reveals the message that can be sent to the marketplace.
- [36:37] Dustin talks about the solicitations he receives as the VP of Lending and how he screens those in or out.
KEY TAKEAWAYS:
- Attracting depositors is more challenging than it used to be. Credit unions need to target ways people think about their investments and develop creative ways to attract electronic deposits back into local branches.
- The biggest obstacle for Credit Unions is that they have local parameters fencing them in, whereas big banks and neo-banks do not.
- A Credit Union shouldn’t tie up all their lending power to vehicles only, which can hold you captive to the ebbs and flows of the car market.
RESOURCE LINKS
Mark Ritter - Website
Clearview Federal Credit Union - Website
Dustin Holmberg - LinkedIn
BIOGRAPHY: Dustin Holmberg is a longtime credit union executive currently the VP of Lending at Clearview FCU in western PA. In this role, he leads all consumer, business, and mortgage lending for Western PA's largest credit union. Dustin is also a board member of MBFS.
Kirk and Mark talk about the state of today's credit union industry and attempt to solve all the current climate issues. Kirk talks to Mark about the challenges for credit unions today in attracting and retaining the best talent.
IN THIS EPISODE:
- [03:19] Kirk shares his employment background and what he is currently doing.
- [10:22] Kirk discusses how he came to know the right questions to ask as a leader.
- [12:03] The concept of national credit unions and the complexity of that operation.
- [15:22] Ai technology has exploded and will change the way we do business.
- [19:57] Liquidity pressures and how credit unions need to adapt quicker.
- [24:55] Kirk explains what the job market is like for positions in the industry.
- [27:53] Salaries are up in the industry, so other credit unions can take your talented employees and long-term, the agency suffers.
- [31:06] The benefits of a 457f plan and a split-dollar-based insurance program.
- [39:23] Kirk shares his contact information and welcomes the contact.
KEY TAKEAWAYS:
- Knowing a credit union's functions from the ground up can not be overstated as you move into a leadership role.
- Ai technology is the pivotal point that will change how credit unions function, and they must adapt.
- It pays to take care of your employees if you want to retain them. CEOs can work from home and only go into the office a few times a month and, therefore, can be recruited and work for anyone.
RESOURCE LINKS
Mark Ritter - Website
OM Financial - Website
Kirk Kordeleski - Email
OM Financial Group - Webinar
Kirk Kordeleski - Linkedin
Kirk Kordeleski - 516-528-5057
BIOGRAPHY: Kirk Kordeleski is well-known in the credit union industry as a longtime executive at a large organization. These days, Kirk assists credit unions in retaining talent through OM Financial, an executive benefits consulting firm.
Mark and Mike try to demystify one of the complex and rewarding lending areas that can also be filled with pitfalls and peril if not done properly. Learn a bit about Mike's construction management history and what support exists for construction lending at credit unions.
IN THIS EPISODE:
- [01:50] Mike shares his education and professional background.
- [03:14] Mike outlines the various services LCS provides.
- [09:52] What was the construction industry like during peak-pandemic?
- [13:43] How does the construction industry handle inflation uncertainty and the different types of construction management agreements?
- [19:13] Mike describes the steps LCS takes to produce a risk report on the construction project and discusses difficult conversations when the review substantiates that a project cannot be built for the bid.
- [24:41] How do draw management and a draw inspection protect the owner?
- [30:10] Mike explains why a property condition report can assist lenders.
- [33:16] Mike relates a nightmare story costing $200,000.
KEY TAKEAWAYS:
- Construction lending creates value for a community. At the same time, properties in disrepair define that community. New construction projects contribute to society.
- Some people are intimidated by construction lending because they are risk-averse. However, with proper oversight, many problems can be avoided.
- Lenders should get assistance from a lender consulting firm at the project's conception and before funding to avoid costly mistakes.
RESOURCE LINKS
Mark Ritter Website
Lender Consulting Services Website
BIOGRAPHY: After a long career in construction management, Mike Kosmoskijoined Lender Consulting Services in 2020 to head up the construction lending management division.
Lender Consulting Services, Inc provides Risk Management Solutions for Environmental, Construction, and Valuation Due Diligence to Lenders nationwide. Headquartered in Buffalo, NY, the firm has assisted Banks, Credit Unions, Pace and Alternative Lenders, Developers and Corporations for almost three decades.
What is the one system used by the majority of the 20 largest banks in the USA and MBFS? It's nCino. They are a longtime partner of MBFS, and in this episode, Will Cameron and Mark catch up on the latest nCino news and what is happening in the loan systems industry today.
IN THIS EPISODE:
- [02:14] Will Cameron shares his job history and talks about skills veterans bring to an organization.
- [06:50] The growth of nCino from 150 to 1600 employees.
- [12:24] Will explains how the level of technology has changed and how the mindset needs to change accordingly.
- [16:04] The two key factors when choosing a technology investment.
- [19:13] Select a software system that grows with your organization.
- [23:39] nCino partners with organizations that have a limited number of employees through its support staff.
- [28:11] Why the nCino support staff is effective and how they are building intelligence into their products for both the institution and the member.
KEY TAKEAWAYS:
- It’s critical to involve the stakeholders, employees and IT personnel when shopping for a software system.
- Evaluation of software by cost alone is foolish. Instead, it should be viewed as an asset to grow the business.
- Don’t automate your inefficiencies. Rethink what the right software can do for your company.
RESOURCE LINKS
Mark Ritter Website
nCino Website
BIO:
Will Cameron is the SVP of Community and Regional Banking for nCino. nCino's Bank Operating System is a comprehensive, fully-integrated bank operating system that was created by bankers, for bankers, to drive increased profitability, productivity gains, regulatory compliance, and operating transparency at all organizational levels and across all lines of business.
What keeps you up at night at your credit union? Many of us worry about fraud and data protection constantly. Zach Douglas lives on that very topic every day for credit unions nationwide. Learn what it is like to live this topic day in and day out and what your credit union can do to minimize the risk of loss.
IN THIS EPISODE:
- [01:54] Mark gives an overview of today's topic and introduces Zach Douglas.
- [02:51] Zach shares his job title and responsibilities.
- [06:59] What does risk management encompass, and what are the three common frauds and scams?
- [10:14] The balancing act between stopping fraud and managing risk.
- 13:06] Fraudsters are more sophisticated, and two ways credit unions could improve.
- [17:01] Zach discusses how Covid affected fraud and the methods bad actors are using in technology to defraud.
- [22:02] How a two-dollar sticker saved a hundred thousand dollars.
KEY TAKEAWAYS:
- Fraudsters became more adaptable to scamming during the pandemic because they were isolated with their computers and saw how easy it was to commit fraud from a device.
- Just as security measures are developed to keep members safe, scammers are working just as hard to create new ways to commit fraud.
- Credit Unions should look at all their products and services to assess risks.
RESOURCE LINKS
Mark Ritter Website
Allied Solutions Website
BIO:
Zach Douglas works to keep credit unions aware of emerging risks to prevent losses as the director of Bond and Risk Management for Allied Solutions. Allied Solutions uses technology-based products and services to meet the insurance, lending and marketing needs of more than 4,000 financial institutions in North America. Dedicated to helping their clients grow, protect and evolve their businesses.
On today’s episode of Credit Union Conversations, Mark is joined by Bob West. Bob, a veteran of credit unions, has been in multiple executive level leadership positions at multiple credit unions and handles all things technology. Listen in as Bob and Mark discuss technology advances and how financial institutions can keep up with the changes and regulations.
IN THIS EPISODE:
- [01:50] Bob’s origin story in tech and evolving into the financial industry.
- [07:45] Technology challenges in today's world for CU’s.
- [15:15] Bob’s perspective on the regulatory landscape for institutions.
- [25:01] Vendor security and what institutions should focus on.
KEY TAKEAWAYS:
- Keeping up with changing technology is a key to keeping your credit union effective and efficient for customers
- Core conversions are a big decision and a detailed process, and it’s important to be aware of your options in the industry.
RESOURCE LINKS
Mark Ritter Website
BIO:
Bob West is currently the CEO of CU South, a CUSO dedicated to supporting the CU Base platform and providing support services to credit unions. Bob is a veteran of credit unions after holding executive level leadership positions at multiple credit unions. In addition, Bob held executive positions at Fiserv and Martin's along with serving his country in the Air Force.
What is the good, bad, and ugly of getting a coveted CEO job at a large, successful credit union? Kelly Botti of Trumark Financial to talk through the process of moving into a CEO role and lessons learned so far.
IN THIS EPISODE:
- [01:45] Kelly’s origin story and journey to Credit Union CEO.
- [11:15] Advice for those in middle management who want to move roles one day.
- [21:15] Best practices that Kelly has chosen to implement with her employees.
- [25:41] What Kelly is hopeful and excited for in the CU industry.
KEY TAKEAWAYS:
- Give your employees the ability to have their own ideas and make their own mistakes to learn from.
- Credit Unions are seeing a huge shift in how they market and rebrand as they grow with the current economy and generations.
RESOURCE LINKS
Mark Ritter Website
BIO:
After eight years at the credit union, Kelly Botti became CEO of Trumark Financial in 2022. A graduate of Villanova's Law School, Kelly entered the legal world and then transferred over to a career in commercial banks before credit unions.
We made it to one year of podcasts! Mark gives a review of the episodes from the past year and how the show has evolved. Mark gives a profile of his experiences and highlights some of the people who have impacted him over the years. Mark also gives his bio, what lessons he has learned, and how it has impacted his management style today. Mark apologizes in advance for the ramblings but enjoys talking about his past, present, and future.
IN THIS EPISODE:
- [06:00] Mark gives a background of his life and how it impacted his future in the lending business.
- [14:00] The different people Mark has met in his life and how they impacted him.
- [22:00] Building a win-win culture in the workplaces where Mark strives for everyone to be successful.
KEY TAKEAWAYS:
- Mark decided to put an emphasis on relationships and this helped foster successful people in his businesses.
- Sometimes people will impact your life in positive ways without even trying and other times people will show you exactly what NOT to do in your business and personal life.
RESOURCE LINKS
Mark Ritter Website
Jack and Mark have an insightful conversation into the history and current state of NACUSO. Mark is a big fan of the annual conference and Jack gives a preview of this year. What's the future of CUSOs look like? Jack and Mark have some thoughts.
IN THIS EPISODE:
- [02:00] Jack introduces himself and shares more about his life’s journey.
- [12:30] Jack and Mark discuss NACUSO’s upcoming annual conference.
- [22:30] Jack talks about staying up on advocacy and education to members.
- [26:51] Regulations and issues to be aware of and stay ahead of.
KEY TAKEAWAYS:
- Conferences can be opportunities to make connections and bring innovative solutions to light.
- NACUSO has a goal of education and advocating for its members.
RESOURCE LINKS
Mark Ritter Website
BIO:
Jack Antonini has been the CEO of the National Association of Credit Union Service Organizations (NACUSO) since 2010. NACUSO brings together credit unions, their CUSOs, and key partners annually at their conference attended by more than 700 people. In addition, NACUSO educates and advocates for the industry with the support of their member base.
CU 2.0's Kirk Drake and MBFS's Mark Ritter figure out what is wrong in today's world and how they can fix it asap! This is round robin and unscripted so you don't know what will go on in today's episode.
IN THIS EPISODE:
- [01:30] Kirk’s origin story and what he’s up to today.
- [06:00] Kirk and Mark discuss CEO transitions.
- [13:00] Increasing members and deposits.
- [22:00] Kirk’s west coast perspective on the Marijuana banking industry.
KEY TAKEAWAYS:
- Successful CEO transitions happen when companies have a slow transition involving working together before changing over completely.
- Building a strong team culture and dynamic is key in successfully moving a company forward.
- Credit Unions may need to change in order to better serve their members and adjust and grow with them as needs and trends change.
RESOURCE LINKS
Mark Ritter Website
BIO:
Kirk Drake is a lifelong entrepreneur, author, and founder of CU 2.0. His entrepreneurship focuses on connecting the innovation of fintechs with the mission of credit unions. He has built 8 successful businesses, including CU Wallet, the CUSO Ongoing Operations, CU 2.0, and now Painted Hills.
2022! What a year! Jeff and Mark recap the highs and lows of 2022, where the industry is at now, and what they think the future will look like. Listen in to hear the current trends, the highs and lows of the year, and what they are looking forward to in 2023!
IN THIS EPISODE:
- [03:00] Jeff and Mark break down the past year, the good & bad.
- [07:40] Credit team underwriting.
- [12:00] Having lending conversations with business owners.
- [18:12] Mark and Jeff discuss the current recession.
- [24:19] Jeff shares his favorite parts of 2022.
KEY TAKEAWAYS:
- Each year will bring highs and lows, but adjusting to them and being there for your community are key in building and maintaining those good relationships with consumers.
- Consistency is key throughout the highs and lows.
RESOURCE LINKS
Mark Ritter Website
BIO:
Jeff Lyons is the COO of MBFS and oversees several functions at MBFS such as credit, sales, and several other operational areas. Jeff joined MBFS after several years leading business lending at a New Jersey credit union but has also been a small business owner.
An executive level marketing strategist, Mike Dinneen has spent 20 years as a marketing leader in financial services. On this episode of Credit Union Conversations. Mike and Mark chat all about tailing marketing strategies to consumer behaviors and much more. Listen in to learn more!
IN THIS EPISODE:
- [02:00] Mike’s background in community banking and it’s evolution over time.
- [10:23] Mike gives his take on the bank branch’s role in marketing efforts.
- [15:00] The Consumer Behavior Funnel.
- [20:00] How media and social media has evolved marketing aspects.
- [27:00] Social media followers, subscribers, and the importance of engagement.
KEY TAKEAWAYS:
- Consumer behaviors influence marketing decisions made by different branches.
- Better data allows for more personalization of marketing materials and strategies.
- Engagement on social media platforms should be the biggest focus of companies.
RESOURCE LINKS
Mark Ritter’s Website
BIO:
Mike Dinneen is an executive-level marketing strategist, with more than 20 years of progressive financial services leadership. For the last five years he has served as the Senior Vice President of Marketing for American Heritage Credit Union.
Kabir Laiwalla has been the leader of Platinum FCU for more than 20 years. Founded in December 1999, Platinum FCU is a unique credit union that focuses on serving the financial needs of Shia Imami Ismaili Community Members. Kabir explains how his small credit union fits the needs of their community and keeps them members for life. Tune in to this episode to get more insight from Kabir and Mark on this episode of Credit Union Conversations.
IN THIS EPISODE:
- [02:19] Kabir’s journey, starting in Mumbai, India, pursuing his CPA, and moving to the US.
- [08:00] Platinum FCU, a faith based credit union serving the Shia Imami Ismaili Community.
- [12:48] Platinum’s mission to help educate immigrants with finances in the US.
- [17:14] Giving business opportunities for those new to the US.
- [23:47] The Platinum Scholarship.
- [31:00] Kabir’s thoughts on the future of Platinum FCU.
KEY TAKEAWAYS:
- Credit unions can give a sense of community and belonging within certain faiths.
- Meet your community with your business in areas that are lacking.
- Understand the needs of current members, and always strive to bridge the gaps.
RESOURCE LINKS
Mark Ritter Website
BIO:
Kabir Laiwalla is the leader of Platinum FCU for more than 20 years. Platinum Federal Credit Union was founded in December 1999 to serve the financial needs of Shia Imami Ismaili Community Members. Today, with over 11,500 members and assets in excess of $240 million, we are among the fastest growing credit unions.
What's the reality of a work from home company and their staff? On today's episode, Mark Ritter and Ellen Thorn talk about their experiences managing a work from home staff and the reality of what it is like on a day-to-day basis. Tune in to learn more from Mark and Ellen!
IN THIS EPISODE:
- [01:00] Ellen explains her background and current role at MBFS.
- [07:39] What works well when managing remote teams?
- [15:00] Being able to open up the applicant pool as a remote company.
- [22:00] Tips for managing technical needs for your remote team.
- [27:50] How to promote camaraderie, relationship building, and teamwork on remote teams.
KEY TAKEAWAYS:
- Employees tend to love the freedom and flexibility that working from home gives them, in turn making them more productive.
- Instead of having to hire someone who is in commuting distance, jobs can be filled by anyone from anywhere.
- IT can be the most challenging piece to manage for remote teams
RESOURCE LINKS
Mark Ritter Website
BIO:
Ellen Thorn is an executive at MBFS overseeing the loan operations and financial activity of MBFS. Ellen joined MBFS after a career in commercial loan servicing and has been integral to the growth of the organization.
Mark welcomes our newest executive, Craig Page, to MBFS as the Chief Revenue Officer. Mark and Craig talk about best practices for a national loan origination program and the good/bad of today's marketplace. They review the results from the first half of 2022 and the outlook for the second half of the year. Tune in to today’s episode for some risk management tools you definitely want to be using in your portfolio. You will also be challenged to consider loans outside of your zip code.
IN THIS EPISODE:
- [01:38] Craig shares his origin story.
- [03:12] Considering loans outside your own neighborhood.
- [06:56] Risk management tools credit unions should use in their portfolio.
- [09:26] Trends in the current market.
- [15:29] A review of 2022 so far and a look forward.
- [23:58] Loan originations when times are a little more stressful.
KEY TAKEAWAYS:
- Loans can be acquired outside of your direct perimeter now. It is important to focus on risk management.
- Regardless of the market, you still need to focus on the underwriting of loans and thoroughly vetting them.
- Research is vital in deciding whether it is smart to take out a loan or not. What doesn’t initially seem like it would be a good investment, could be a great investment, and vice versa, something pretty and shiny could actually be very risky.
RESOURCE LINKS
Mark Ritter Website
BIO
Craig Page is the recently appointed Chief Revenue Officer at MBFS. After a lengthy career as a CUSO executive managing the risk for a large commercial real estate portfolio, Craig has joined MBFS to build out a national CRE origination and participation program. Welcome aboard Craig!
Need liquidity to fund loans??? This episode is for you. Upgrade is well-established in driving quality assets to credit unions. Now find out how they also bring deposits to your institution as well.
Today, Mark welcomes a very special guest, NCUA Vice Chair Kyle Hauptman. Kyle shares his journey to his position and some roles of NCUA for credit unions with Mark. They talk about the importance of credit union relationships with fintechs and the new opportunities in blockchain technology. Mark gives credit to how the NCUA has helped him as a business owner. Listen in as Kyle walks through his top three priorities for his tenure at the NCUA.
Darren Thompson of Ministry Partners and Mark Ritter meet up to talk about why faith-based lending and member relationships are a nice complement to any credit union. Faith-based lending has some nuances compared to traditional lending but Darren leads us through the best practices and how to access these community organizations. Many credit unions shy away and will not work with churches, but it can be very beneficial in connections. Tune in to learn the benefits of lending to religious organizations.
IN THIS EPISODE: [02:04] Darren introduces himself and shares his background [05:26] What makes credit unions nervous about church loans? [10:06] What are the benefits of faith-based loans? [14:48] Darren talks about criteria and red flags credit unions look for when a church applies for a loan [18:08] Darren shares his experience with church lending through COVID [22:06] How does Ministry Partners work with credit unions?
KEY TAKEAWAYS: Partnering with a church gives a connection to the community. Churches often engage their lender as financial partners. Serving the church can turn into serving the families. It’s important when considering church loans to look at church governance and cash flow. It is better to have an independent board than a pastor who makes all the decisions. Ministry Partners can work together with credit unions to help with faith-based loans. Some examples would be partnering with banking services or helping with the underwriting of loans.
RESOURCE LINKS Mark Ritter Website Ministry Partners Website
Bio: Darren Thompson is the COO of Ministry Partners. They are a credit union owned CUSO serving the faith-based community through investments and lending.
Hurricane Maria and other storms in Puerto Rico have destroyed their power grid system but also their economy. Cooperativas (Puerto Rican credit unions) have had an incredible impact on the stability and recovery of communities in the aftermath. On today’s episode, Rene Vargas Martinez and Mark Ritter discuss how Puerto Rico's cooperativas and Inclusiv are working to make a difference in their local communities. Learn about the history of the cooperativa moment and how you can help support it as well as Inclusiv.
IN THIS EPISODE: [01:31] Mark gives an update on the industry [05:33] Rene introduces himself and gives his backstory [9:14] Who is Inclusiv? [15:01] The impact of hurricanes on Puerto Rico in general and financially [19:19] Rene explains the two types of credit unions in Puerto Rico and what the average credit union looks like there [26:19] The outlook for cooperativas over the next few years [29:52] How US credit unions can support Inclusiv and the Puerto Rican cooperativa movement
KEY TAKEAWAYS: Multiple hurricanes in Puerto Rico have destroyed their power grids and economies. Cooperativas play a big part in the stability and empowerment of low to moderate-earning individuals. There is some misconception about cooperativas because they are not federally backed. In reality, they are even more secure and have incredible buy-in. Here are some ways to support Inclusiv and the Puerto Rican cooperativa movement: See if you are eligible for CDFI and join Inclusiv. Hire bilingual staff to be able to cooperate with Puerto Rican cooperativas. Offer shared services for members with a partnership. Share notes and technology, as well as industry information. Educate others about the misconceptions with cooperativas. Be the bridge. RESOURCE LINKS Mark Ritter Website Inclusiv Website
Bio: Rene Vargas Martinez is the director of Puerto Rico Credit Unions for Inclusiv. A native of the island, Rene is passionate about helping the cooperativas serve the local communities. Inclusiv is a trade association dedicated to closing the gaps and removing barriers to financial opportunities for distressed and underserved communities.
Matt deLisle joins Mark Ritter to talk about their journeys in the podcast industry and the impact it has made at MBFS. Matt's career path has led him to an industry that didn't exist when he graduated college. Now, he is a leader in the podcast guesting industry. Why does podcasting work and what makes it so effective over other mediums? Listen and find out.
IN THIS EPISODE: [01:52] Matt’s background and how he got into the podcast business [06:27] Matt explains the podcast industry and the benefits of using podcasts as a marketing tool [15:46] The benefit of being a guest on a podcast [20:09] Strategies used to find guests the “right” show [24:05] Information about Interview Connections
KEY TAKEAWAYS: Podcasts have a more intimate feel to them than other forms of marketing because they center around conversation. Using podcasts to reach others is beneficial because you have an audience that has made the choice to listen and wants to know what you have to say. Appearing as a guest expert on another podcast for marketing purposes is beneficial because you don’t have to put the work into producing it. You also have the benefit of their rapport and trust with their loyal listeners.
RESOURCE LINKS Mark Ritter Website Interview Connections Website
Bio: Matt deLisle is a member of the leadership team at Interview Connections. He is an expert in all things podcasting. Matt joined a fledgling company that has grown to be a leader in the podcast guesting industry.
Matt deLisle joins Mark Ritter to talk about their journeys in the podcast industry and the impact it has made at MBFS. Matt's career path has led him to an industry that didn't exist when he graduated college. Now, he is a leader in the podcast guesting industry. Why does podcasting work and what makes it so effective over other mediums? Listen and find out.
IN THIS EPISODE: [01:52] Matt’s background and how he got into the podcast business [06:27] Matt explains the podcast industry and the benefits of using podcasts as a marketing tool [15:46] The benefit of being a guest on a podcast [20:09] Strategies used to find guests the “right” show [24:05] Information about Interview Connections
KEY TAKEAWAYS: Podcasts have a more intimate feel to them than other forms of marketing because they center around conversation. Using podcasts to reach others is beneficial because you have an audience that has made the choice to listen and wants to know what you have to say. Appearing as a guest expert on another podcast for marketing purposes is beneficial because you don’t have to put the work into producing it. You also have the benefit of their rapport and trust with their loyal listeners.
RESOURCE LINKS Mark Ritter Website Interview Connections Website
Bio: Matt deLisle is a member of the leadership team at Interview Connections. He is an expert in all things podcasting. Matt joined a fledgling company that has grown to be a leader in the podcast guesting industry.
On this episode of Credit Union Conversation, Mark & Stephanie Hainje of My Leverage talk about what's new in payments and how credit unions can use today's technology to build low-cost deposits. Connecting with digital payment platforms is key to convenience for customers so tune in to learn more on how to make that happen!
Guest: Stephanie Hainje
IN THIS EPISODE: [02:00] Stephanie talks about her start in the credit union world and the current state of credit [06:30] Pandemic recovery in terms of spending trends [10:00] Debit cards and digital payment methods [19:00] Getting credit unions connected with digital payment platforms
KEY TAKEAWAYS: Connecting credit unions with digital payment platforms is key to convenience and ease for customers Spending habits ebb and flow with time and credit unions should adjust as needed Building relationships and connecting within the community is a great thing for local Credit Unions
RESOURCE LINKS: www.markritter.com
BIO: Stephanie has over 15 years of experience in the credit union space and an extensive background in payments and RFP consulting. She has served multiple roles ranging from payments education and training, to relationship management and consulting to help credit unions enhance their payments offerings.
2022 has seen some wild swings in the financial services industry. As the world returns to in-person communication, the credit union industry is open and booming. In this episode, host Mark Ritter reviews the flourishing first half of 2022 and looks at what is to come the rest of the year. Will the second half of 2022 follow the current uptrend?? He shares insights on delinquency, interest rates, and the fundamentals of loan repayment. Mark talks about the state of credit unions, lending, and updates at MBFS.
On today’s episode of Credit Union Conversations, Mark is joined by Derek Ezovski. Derek has considerable experience in environmental and property risk management. Spending his entire career helping companies create best practices, Derek shares with us about his business, ORMS, hot-button topics and information on lending and environmental risks to consider. Tune in to learn more!
Joe Hyatt, President of DFTC, Inc., has been involved in credit unions for over 15 years assisting with many aspects of risk management in commercial lending. On this episode, Joe speaks with Mark about the good and bad of today's lending marketplace as well as challenges faced as a small business owner and credit union vendor.
In today’s episode of Credit Union Conversation, host Mark Ritter talks with Small Business Lender, Tammy Baker, of Nu Direction Lending. Tammy and Mark start the show by reviewing the new cap rules for credit union business lending. They also talk about best practices in participation lending, small business loans, and Tammy gives an overview of lending with Nu Direction Lending.
On this episode of Credit Union Conversations your host, Mark Ritter, dives into the topic of Small Business Loans. Join him as he breaks this topic down with Will McClain and Chuck Evans, two veterans of Small Business lending. Tune in as they discuss topics such as different methods of working with clients, helping people set goals for the businesses, SBA incentives, and more!
The most successful credit unions make long term commitments to be part of their community in helping small businesses succeed. Erie Federal Credit Union exemplifies this effort. In this episode, Mark talks with Nathan Crouch and Katrina Drake to pick their brain on how they manage close community relationships, have a strong work-life balance, and succeed at their credit union.
I have a great business idea....This is a no brainer....Kristina Paulson has heard and seen it all when it comes to loan requests. In today's episode, Mark Ritter and Kristina will uncover the secret sauce on what actually goes on behind the scenes before a final decision is made on financing requests. Business owners and real estate investors will learn the tricks of the trade that will help them land the financing they need.
On today’s episode, Mark is joined by longtime friend and colleague, Fred Ryerse of Patriot FCU. Fred has been in the financial services world for 42 years now and offers insight on current trends by looking back at interest rates during the 1980s. Fred and Mark catch up on the old days as well as have a candid conversation about what is in store for 2022. Listen in as they discuss what credit unions should be thinking about today and pick up some pointers for your team.
Welcome to the kickoff for Credit Union Conversations. Mark Ritter, MBFS & Nu Direction Lending CEO, has been a regular speaker on the credit union circuit for the past decade. Mark now brings his insights to the public so you can listen on your terms. Learn more about Credit Union Conversations and our plan to bring our opinions on the latest industry news to everyone on a regular basis.
You can’t move forward without first looking back! In today’s Credit Union Conversations, Mark speaks with Jeff Lyons, COO of MBFS, about what happened in the credit union industry in 2021. Mark and Jeff discuss the most surprising statistics and major changes to the business lending portfolio. It’s no surprise that COVID is still a topic of discussion and Mark and Jeff talk about how it continues to impact staffing and rising interest rates. They share their thoughts on how credit unions can thrive by focusing on repeat customers and connecting with more small businesses.
Everyone searches for the unicorn to walk through your door. It is the perfect prospect with great credit and collateral who is just begging for someone new. Does it happen? Not really. On today’s episode of Credit Union Conversations, Mark is joined by Tom Halliday to talk through meeting a new member prospect for the first time and how to separate fact from fiction while balancing the needs of everyone.
Welcome to the kickoff for Credit Union Conversations. Mark Ritter, MBFS & Nu Direction Lending CEO, has been a regular speaker on the credit union circuit for the past decade. Mark now brings his insights to the public so you can listen on your terms. Learn more about Credit Union Conversations and our plan to bring our opinions on the latest industry news to everyone on a regular basis.