Halftime Report: Promises Made, Promises Kept
in League Initiatives
By: David Frankil, NJCUL President/CEO

Last year, our Annual Convention in October came at about the 100-day mark of my tenure here at the New Jersey Credit Union League. The event also represented a golden opportunity to unveil our new strategic focus, and describe how we were going to translate it into concrete initiatives in 2017. 

NJCUL is being re-positioned as a true strategic partner, serving as a catalyst for our members' success. Our mission is to help you meet both your immediate needs and longer term goals for growth and productivity. That focus came from you: grounded in direct feedback from more than 130 conversations with CEOs, Board Chairs, volunteers, senior staff, consultants, lawyers, vendors, and many others in the NJCUL value chain. As we’ll discuss in a future blog post, it was also confirmed with our more recent strategic alignment survey, and significantly refined by the NJCUL Board in our strategic planning session.

Our strategy for translating that focus into reality entails:

  • Providing solutions, information, programs, and relationships that offer compelling value and which are directly relevant to the challenges you face and opportunities you see
  • Building on the Banking You Can Trust foundation with fresh approaches to building consumer awareness – call it Banking You Can Trust 2.0

We rolled out a new, comprehensive set of initiatives to implement the strategy, touching nearly every aspect of what the League does. Everything we pledged to do on your behalf was well-received at Convention, but there were attendees who expressed skepticism that we would be able to accomplish it all – the phrase "very ambitious" was uttered more than a few times. Which is accurate – it was (and is) an ambitious agenda.

Nothing makes me happier than proving skeptics wrong– we kept nearly every one of those promises.

We’re now six months into 2017 – call it halftime – and it’s timely to provide a status update on all those new programs (and two bonus additions too):

  • Banking You Can Trust 2.0 – Launched new awareness campaigns focused on:
    • Phase III – Service – amazing member service stories from long-tenured employees and Board members – kicking off in August
  • CUJobs4Vets – Statewide initiative to connect veterans in need of jobs to credit unions and business that have them – delayed by technology issues, currently in soft launch phase.
  • Upgraded CU Reality Check – Thanks to the support of CUNA Mutual Group, we were able to book top-tier speakers at the first-ever Reality Check collaboration between NJCUL and the MD|DC and Pennsylvania Credit Union Associations. Among them:
    • CUNA Mutual Group Keynote speaker Jeffrey Hayzlett, author of the 2015 Forbes top 10 business book "Think Big, Act Bigger"
    • Wharton Marketing Professor Jonah Berger, author of the NY Times Best-Seller "Invisible Influence: The Hidden Forces that Shape Behavior"
    • Doug Duncan, SVP/Chief Economist at Fannie Mae, and one of Bloomberg Businessweek’s 50 Most Influential People in Real Estate
    • David Peterson, author of "Grounded Anchor Management for Strategic Leadership and Effective Decision-Making"
  • A new series of affordable, one-day, hands-on workshops focused on critical operational needs:
    • NCUA Field of Membership Rules – Jan 17
    • Branch Transformation – Feb 7
    • Core Processing I – March 7
    • HMDA Compliance – May 25
    • Marketing Workshop – June 21
    • Core Processing II– Education/Showcase – Fall 2017
    • Drive Profit and Improve Engagement at the Branch – September 13
    • All About Mortgages – Getting in the Game – September 19
    • Cybersecurity – November 2
    • All About Mortgages – Stepping Up your Game – November 7
  • Free customized performance reports to enable benchmarking against peers for key performance metrics – distributed each quarter since 4Q 2016. Based on demand, we’re also looking at some training and consulting options to help CEOs and Boards use the reports.
  • Building the next generation of leaders – successful in obtaining a NJ State training grant in conjunction with Rutgers University that will enable us to provide 48 hours of small group professional managerial development training to over 300 NJCUL member employees, at locations throughout the State. The three, two-day, 16-hour courses are:
    • Becoming a Better Manager
    • Supervisor Symposium, and
    • Human Resource Management
  • Free monthly compliance and regulatory call-ins for members:
    • Jan 12 – How to Apply for a Low Income Designation
    • Feb 9 – Risk Based Lending – Randy Thompson, CEO TCT Risk Solutions
    • Feb 17 – Regulatory Update: Compliance Outlook
    • Mar 9 – Stump Nicola!
    • Apr 13 – Succession Planning
    • Apr 21 – Future of NUCA Exams and Call Reports
    • May 11 – Regulatory Update
    • June 16 – Comment Letter Writing Process
    • July 13 – Establishing and Execution of Estate Accounts – Michael DuPont, Attorney at McKenna, Dupont, Higgins and Stone
    • Jul 21– Regulatory Update: BSA Awareness
  • Expanded access to NJCUL compliance solutions – In addition to our Shared Compliance program, members can now show an immediate ROI on their dues investment by taking advantage of below-market rates for a variety of audits (BSA, CIP, OFAC, ACH, CAT, Quality Review, Website, and more) and training (BSA, Board Governance, Supervisory Committee Duties and Responsibilities, and more)
  • Free marketing collateral for small credit unions – free member benefit provided by YourMarketingCo on a quarterly basis
  • MBL opportunities in energy loans – on hold, awaiting policy decisions from the State

We even added two new programs that we didn’t talk about in October.

  • A new home improvement loan participation program that enables credit unions to deploy capital and receive a higher return, through an innovative participation program leveraging our partner LendKey’s national network of contractors.
  • ULEND Academy – developed by CUNA Mutual Group, ULEND Academy is a compressed 2-day version of week-long lending training programs, offered locally on a more cost-effective basis. We will be one of the first three Leagues to offer the program, with our first sessions being held August 22 & 23 at North Jersey FCU and August 24 & 25 at ABCO FCU. 

2017 has been a busy year, as you can tell – and I can’t wait to tell you about all the new programs coming in 2018 at this year’s Annual Convention.

Thank you for all of your support, and as always please contact me directly at dfrankil@njcul.org if you have questions, comments, and/or suggestions for new programs and activities that meet member needs.