Trusted News for Credit Union Leaders
Credit Union Times
DECEMBER 7, 2016 | VOL. 27 | NO. 42 | CUTIMES.COM
HUMAN RESOURCES
Open Enrollment Tech
Technology alone can’t provide a
magic solution to one of the major challenges facing Human Resources experts and employees
during open enrollment — but it
certainly helps.
“Our biggest challenge is communication,” said Linda Garcia,
vice president of human resources for Rooms to Go, a furniture
retailer based just outside Tampa, Fla. Her company has 7,500
employees working at 160 retail
outlets and seven distribution
centers across the Southeast and
Texas.
“We simply don’t have the re-
sources to send an HR person to
every store,” Garcia said. “We are
taking advantage of technology,
and we are combining the best of
old- and new-school tactics. All
employees receive printed ma-
terials, we hold as many in-per-
son meetings as we can and we
broadcast those meetings to our
distribution centers. Technology
really has helped us reach our
employees with a more consis-
tent message.”
This high-tech, high-touch
strategy also resonates with
Kathy O’Brien, vice president of
voluntary benefits and national
client group services for Unum
in Chattanooga, Tenn.
“Technology continues to
grow and be a big part of enrollment — much more than in the
past,” she said. “We probably get
more questions about technology from employers than any
other topic. Y14
Increasing
Loan
Revenue
Generation
ROY URRICO
rurrico@cutimes.com
sing technology to increase revenue is vital
to many credit unions’
“Some of our most successful
credit union clients in terms of
lending have really nailed a niche.
It could be indirect lending, small
business merchant lending, correspondent mortgage lending, etc.,
but they have become very profitable and efficient in their area of
focus with excellent performance
metrics.” Daryl Jones, director at
the Scottsdale, Ariz.-based Cornerstone Advisors, noted.
“The primary
lifeblood of every credit union
is lending,” Barry
Kirby II, vice president for the Island-ia, N.Y.-based loan
origination provider Teledata Communications Inc.,
said. Nevertheless, Kirby pointed
out, these are challenging times
for credit unions. Borrowers view
all financial institutions as commodities. “The market is
TECHNOLOGY
Y16
Must Reads
hen CU Grow
CEO James Robert Lay in Houston asked a client about the role of the financial
institution’s website, he said the
site should be treated and viewed
like a branch, like the No. 1 sales
channel.
“However, if our website were a
branch, the weeds would be grow-
ing outside and
the paint would
be peeling off the
walls,” the client
said.
Chances are pro-
spective members
are going to see
your website be-
fore they see your branches. And
expectations, particularly among
young consumers, have changed
when it comes to a website expe-
rience. Those consumer expecta-
tions mean credit unions need to
modernize their site to keep and
attract members.
But when a credit union decides its time for a total website
makeover, what is the process
like? Where do you begin? What
are the latest trends? And what
are the must-have site features
that can help the credit union effectively market products and
services?
Those are questions that De-rik Krauss, co-founder of
BRANDING
Time for a Website Makeover
PETER STROZNIAK
pstrozniak@cutimes.com
Y15
FOCUSREPORT:
CHARITABLE
GIVING & COMMUNITY
RELATIONS
With many Americans still struggling
financially due to the lasting effects
of the Great Recession, credit unions
are returning to their roots of
serving the underserved. Learn how
several are reaching out to low-and
moderate-income members in this
Focus Report.Y6
Kirby
Talking CECL
Prepare your CU for
sweeping accounting
changes. Y12
Making a
Meaningful
Impact
DMCU shares its
secrets to giving
back. Y8
Lay