Trusted News for Credit Union Leaders
Credit Union Times
FEBRUARY 28, 2018 | VOL. 29 | NO. 6 | CUTIMES.COM
Y30
FOCUSREPORT:
Trailblazer
Awards
Meet our six
winners for
2018. Y14
Fighting ADA
Lawsuits
Predatory firms
continue to target
CUs. Y12
Y33
Must Reads
HUMAN RESOURCES
Insurance Innovation
To many, the insurance industry
is a vast unknown that is sup-
posed to respond when policy-
holders have an emergency or
catastrophe, but beyond that, the
details tend to get a little fuzzy.
While not traditionally known
as a swift-moving industry that
embraces change easily, insur-
ance companies do recognize
the need to adopt new technol-
ogy and partner with innova-
tive companies that are techno-
logically savvy, understand what
policyholders need and comple-
ment what insurers have to offer.
One of those partners is Sedgwick Claims Management Services, Inc., a global provider of
technology-enabled risk and
benefits solutions that works
with insurers to manage a wide
variety of claims for more than
two million people annually.
Innovating for the Future
Sedgwick was recognized for its
innovation in how it flags and
handles workers’ compensation
claims through its decision optimization platform.
Sedgwick created and implemented a business model that
uses its data to identify workers’
compensation claims that could
exceed $50,000 in total incurred
costs, allowing the claims team
to focus on specific areas or apply the resources necessary to
ensure the best experience for an
employee.
The company also generated a
model to identify claims
Mobile has transformed the way
people interact with their
financial institutions. In this Focus
Report, discover how credit
unions can make their mobile
banking apps work harder for
them on noninterest income. Y6
NONINTEREST
INCOME
FOCUSREPORT:
New Forms App Eases CU Pain Point
elivering and processing forms electronically, which helps
credit unions cut
costs, members save time and staff
operate more efficiently, is sometimes overlooked when it comes to
plugging in new technology.
Historically, credit unions pro-
cured paper forms, which were
expensive and bulky to handle
and stockpile. In today’s highly-
regulated environment, forms
processing is a particular pain
point for credit unions because
they just increase in cost and
complexity.
The Tallahassee, Fla.-based
CUSO and application service
provider United Solutions Company determined alternative
forms and processing not only
could exist in the credit union
market space but was necessary
to help its bottom line.
United Solutions set out to provide a new forms underpinning
priced right for the market. The
CUSO developed a new product
called OnCore Forms in conjunction with Angel City Data, a platinum development partner for Apple. This solution uses the Apple
FileMaker Pro Software Engine to
deliver what the CUSO described
as a fast, efficient and secure
product.
“OnCore is really an in-and-out solution. We can take
ROY URRICO
rurrico@cutimes.com
Y32
FINTECH
New Tax
Exemption
Threat Hits
CUs
PETER STROZNIAK
pstrozniak@cutimes.com
or more than 40 years,
Senator Orrin Hatch
(R-Utah) has been a
staunch supporter of
the credit union
tax exemption. But
the longest serving
Republican Senator in U.S. history
is having second
thoughts about it,
creating a new and
serious threat that
credit union executives will be bringing up with
Washington lawmakers during
CUNA’s GAC this week.
Even though the tax status survived H.R. 1, the Tax Cuts and
Jobs Act passed by Congress in
December, CUNA President/
CEO Jim Nussle warned there will
very likely be an attempt to make
corrections to the bill that could
once again put the tax status in
jeopardy.
Scott Simpson, president/CEO
of the Utah Credit Union Association, who worked as a senior
policy adviser for Hatch about
18 years ago, said at first he was
alarmed by Hatch’s letter.
“Once we got a sense about the
why – the explanations from the
senator’s folks – it calmed
REGULATION
Hatch