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Opening a Credit Union Account During a Pandemic

I moved away from my college town about a year ago, but I was still clinging on to my old credit union account because the thought of transferring my bills, direct deposit, and savings filled me with dread. I had not even considered transferring until I bought a used bike in person, where I had to withdraw $450 in cash.

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CU2.0 Podcast Episode 103 Pablo DeFilippi of Inclusiv on Diversity, Equity, Inclusion DEI 3

“The credit union industry needs to reflect the community,” said Pablo DeFilippi, a senior vice president at Inclusiv, the association for community development credit unions, a past CEO of the Lower East Side People’s Federal Credit Union in New York, and a leading voice in the push for more Diversity, Equity and Inclusion in the credit union universe.

He points out that, as nation, we are becoming ever more diverse.  Indeed, by 2045, the US will become “minority white,” according to demographers.

The time for change is here and, said DeFilippi, he hopes we are moving beyond statements alone – well meaning as they may be – and into action.

He reminds us that the nation’s first credit union, St. Mary’s Bank, was founded in 1908 by French Canadian immigrants in Manchester, New Hampshire, who felt excluded by mainstream financial institutions.

DeFilippi’s point: this kind of outreach is in the credit union DNA, it is a mission credit unions are well positioned to fulfill.

DeFilippi worries that the nation’s minority depository institutions will be under particular strains as the nation’s deep recession amounts to an existential threat.

But he also is pleased to be able to report that Inclusiv members issued perhaps $1 billion in PPP loans (and note this interview was recorded just before the PPP application deadline was extended from June 30 to August 8th).

Listen to why he is optimistic that we are indeed on the edge of real changes.

It’s an upbeat podcast.

There are many related podcasts in this series, including #100 with Victor Miguel Corro of Coopera, another CU DEI Collective member, 101 with Renee Sattiewhite of the African American Credit Union Coalition, and also Cathie Mahon, CEO of Inclusiv, also a CU DEI Collective member. And a podcast with Cliff Rosenthal, a pioneer in the CDFI world.

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Want to listen to more of the Credit Union 2.0 podcast series? Click here to view the series.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email [email protected]

The CU 2.0 Credit Union Data Analytics Provider Guide 2020

Credit Unions are behind on several key trends—especially when it comes to technology. One the one hand, credit unions must balance technological needs with service, growth, and profit. Yet those needs sometimes compete with outside factors such as fintechs, compliance, IT security, and ever-changing regulations.

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CU2.0 Podcast Featuring the Credit Union Mastermind Group

Are you ready to jumpstart your credit union’s successes?

How about your personal success?

You want to know about the new CU2.0 Mastermind group – which is specifically created to help credit union leader and fintech leaders come together in small, working groups to hash out problems, solutions, opportunities.

Listen up: we are in a crisis. A health crisis and a national, indeed global, financial crisis.  The impacts of what we now confront will be with us for years.  You remember 2008.  This is worse. And it will cause more disruption.

That’s why now is the time for a Mastermind group.  Because it’s time for a big rethink and a Mastermind group will put this process in overdrive for participants.

Mastermind groups work. They accelerate success. In this podcast you will hear personal testimony about the power of Mastermind groups from CU2.0 founder Kirk Drake.

You also will hear from Dr. Patty Ann Tublin who shares her psychological insights into what challenges credit union leaders and fintech leaders face today and the barriers they face in succeeding.

And you will hear about how these Mastermind groups will work, mixing small group sessions with larger ones and all done virtually, at least for now.

You’ve heard of Mastermind groups? Indeed you have if you have read the great motivational writer Napoleon Hill who is credited with coining the term in his 1920s book The Law of Success.  He elaborated upon the idea in his later book, Think and Grow Rich.

In its simplest form a Mastermind group is for peer to peer mentoring – meaning the same folks get together, in person or virtually, on a regular basis and hash out what is gnawing on them.  In the CU2.0 version, sessions are facilitator led to add more focus to every session.

That will speed the results and, nowadays, who has time to wait?

Listen up.

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Want to listen to more of the Credit Union 2.0 podcast series? Click here to view the series.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email [email protected]

Five Digital Marketing Strategies for Fintechs

There are many ways to launch a new fintech startup. Getting good PR, knowing the right people, and partnering with established institutions all work very well.

But at some point, you’ll need a digital presence. Not only does it lend credibility to your organization, but it guides curious parties to your brand—and your solution.

If you want to get started with digital marketing, there are five strategies you need to know.

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