LEVERAGE Monthly Newsletter

We are thrilled to share some exciting news with you! The League of Southeastern Credit Unions & Affiliates (LSCU & Affiliates) is undergoing a significant transformation by consolidating our Birmingham and Common Bond Title office locations into a single, centralized hub. Our new address is:

1 Perimeter Park South
Suite 130
Birmingham, AL 35243

This strategic move is pivotal for us, fostering better team integration and collaboration. The consolidation streamlines our operations and enhances our ability to serve you more efficiently. We believe this change will elevate our capacity to deliver exceptional services and support to our valued partners.

We understand the importance of updating records and wanted to ensure you have the correct information moving forward. Kindly note our new address to facilitate seamless communication and collaboration.

LEVERAGE is committed to providing unwavering support and top-notch services. Your continued trust and collaboration mean the world to us, and we look forward to an even more successful partnership in 2024 and beyond.

For more information about LEVERAGE and our partners, visit MyLEVERAGE.com or contact a LEVERAGE Business Development Consultant at consult@myleverage.com.

As the holiday season approaches, it's a time to celebrate the spirit of giving, sharing, and caring! At Shared Cooperative Services, we embody the essence of "sharing is caring" through our commitment to providing convenient and accessible financial services for your valued members.

Shared Cooperative Services is your gateway to CO-OP Shared Branch, a credit union-owned shared network spanning 5,400+ locations across all 50 states. With 82 participating credit unions operating 382 outlets in Alabama, Georgia, and Connecticut, we strive to make accessing your funds effortless, no matter where your holiday travels take you.

Here are a few reasons why shared branching is more than just a convenience; it's an integral part of your credit union experience:

• • Security and Member Retention: Offering in-person transactions ensures security, especially for members who value face-to-face interactions. Even as members relocate, they can conveniently access shared branching locations in their new neighborhood or hometown, fostering member loyalty.
• • Business Continuity and Disaster Recovery: In times of disruptions or disasters, shared branching supports your credit union's operational continuity and provides vital cash access for members.
• • Collections and Consistent Member Experience: It helps members stay current on loans even after relocation while maintaining a consistent service experience across different locations.

This holiday season, we encourage you to explore the benefits of shared branching. Your credit union can extend its reach, providing accessibility and reliability to your esteemed members.

For more insights on how shared branching can benefit your credit union, please get in touch with Shared Cooperative Services at 866.231.0545, ext. 2181, or email us at support@myscservices.com.

Small and medium-sized businesses (SMBs) form the cornerstone of our economy, yet they often grapple with outdated, convoluted loan application processes that impede their progress. These cumbersome procedures impede SMB owners and place an immense manual underwriting burden on credit unions.

That’s why LEVERAGE, the service corporation for the League of Southeastern Credit Unions & Affiliates (LSCU & Affiliates), is thrilled to announce its partnership with Ranqx, a leading provider of cutting-edge digital lending solutions. This strategic alliance aims to transform small business lending, providing credit unions with the tools to streamline their processes and offer swift, efficient lending solutions to SMBs.

"Through our partnership with Ranqx, we're ushering in a new era of small business lending for credit unions,” said Steve Willis, President of LEVERAGE. “We're enabling credit unions to offer a hassle-free, technology-driven lending experience, fostering economic growth and serving their communities more effectively.”

The Ranqx Digital Lending Platform offers a plethora of advantages, including:

1. 1. Digital Application and Auto Decision in Minutes: By automating the lending process, credit unions can deliver loan decisions to their members within five minutes, 24/7.
2. 2. Cloud Native API-First Solution: Real-time APIs eliminate paperwork, simplifying and expediting lending.
3. 3. Supporting the Credit Union Mission: Ranqx embodies the credit union ethos of "people helping people," aligning seamlessly with the mission of these community-focused financial institutions.

This partnership introduces an array of streamlined working capital loans, simplifying SMB lending for credit unions, encompassing overdraft, term loans, and business credit cards. Credit unions reap substantial rewards, including:

1. 1. Efficiency: A dramatic 80-90% decrease in origination costs.
2. 2. Growth: The ability to serve more SMB members rapidly, digitally scaling SMB loan books and deposits.
3. 3. Accuracy: The power to leverage real-time data for improved decision-making and regulatory reporting.

LEVERAGE and Ranqx strive to accelerate the flow of working capital, fueling small business prosperity. This partnership offers a beacon of hope to those seeking the financial means to operate their businesses efficiently and profitably. Credit unions can become the most sought-after SMB lending partners in their communities thanks to the innovative solutions brought forth by this collaboration.

To learn more about Ranqx, visit MyLEVERAGE.com or contact a LEVERAGE Business Development consultant at consult@myleverage.com.

JMFA, a leading provider of financial services consultation, is thrilled to announce a significant milestone in its evolution. As part of our commitment to better serving our clients and remaining at the forefront of the financial industry, JMFA is rebranding to “ADVANTAGE, powered by JMFA.” This name change reflects our core mission to give our clients a competitive advantage in the market.

We have a 40-plus-year history of providing premier consultation services to community banks and credit unions nationwide. With this rebranding, we reaffirm our dedication to excellence and innovation in the ever-evolving financial landscape.

Our suite of consultation services includes:

Technology Strategy & Contract Negotiation
Navigating complex contracts can be a daunting task. With our adept negotiation strategies and by leveraging proprietary data, our consultants secure the most favorable terms, service level agreements, and pricing in complex contracts to ensure our clients receive the best value from their vendors.

Overdraft Compliance Consulting
Our overdraft compliance consulting is a solution with effective recommendations, process automation, in-depth data analysis and reporting, ongoing training, compliance support, and a 100% compliance guarantee. Our experts help our clients remain competitive by protecting revenue and offering their account holders an enhanced service that meets their financial needs.

“At ADVANTAGE, our mission is to empower credit unions and community banks with the knowledge and strategies they need to succeed in a dynamic and competitive industry,” said John Cohron, CEO. “Our expanded services reflect our commitment to being a comprehensive consulting partner for our clients, guiding them toward growth and compliance, helping them gain a competitive edge.”

With ADVANTAGE, you can expect the same level of excellence, dedication, and innovation that JMFA has been known for over the years.

To learn more about LEVERAGE and ADVANTAGE, powered by JMFA, visit MyLEVERAGE.com or contact a LEVERAGE Business Development Consultant at consult@myleverage.com.

by Terrance Williams, President and CEO, TruStage

Over the past six months, I’ve had a chance to meet hundreds of credit union leaders in every corner of the country, all bringing different perspectives and experiences, and representing membership bases as diverse as our country.

These leaders deal with remarkably different circumstances on a daily basis, but a commonality shines through: credit unions are an invaluable ally for middle-market consumers.

In an era of rising income disparity, at a time of tremendous economic pressure on household budgets, credit unions keep one eye on the present and one on the future – helping members navigate life’s daily challenges while anticipating tomorrow’s needs.

At TruStageTM, we’ve been a proud partner with credit unions in this work for nearly a century, and we’ll continue to be there for you. We’ve got a workforce that’s passionate about helping you and your members succeed. We walk alongside you in the commitment to build a more inclusive financial system and for the cause of betterment within our communities.

I’m a firm believer in the Power of We – recognizing and channeling our collective impact for good. My optimism for what we can accomplish together is boundless.

Commitment to relevance

As I onboarded into my role at TruStage, credit union leaders often told me TruStage has earned a reputation as a trusted partner and has credibility as a key driver in the movement – perhaps the key driver.

That’s an enviable position and it comes with great responsibility.

I admire and appreciate companies that celebrate their heritage – that’s one of the primary factors that drew me here. I’m also a firm believer that organizations must evolve if they want to stand the test of time. What's the key to maintaining relevance and expanding impact? Evolving to meet members’ ever-changing needs.

The next chapter

Earlier this year, we unified our insurance, investment, and technology solutions under the TruStage brand. Now, we’re working toward providing a unified and seamless customer experience.

Additionally, TruStage is going to help credit unions grow their digital capabilities to meet member demands. We will also provide our expertise in diversity, equity, and inclusion, touting it as a business differentiator and cultural advantage.

To help expand our collective impact, TruStage will:

• • Leverage our financial strength to invest in digital capabilities.
• • Make investments in emerging companies to provide innovative financial solutions.
• • Advocate for a more inclusive financial services system that allows credit unions maximum latitude to meet the needs of their members.
• • Show up in our communities with intention – contributing millions to create a more equitable society.
• • Look for opportunities to partner, buy, or build solutions that enable us to diversify and strengthen the portfolio of solutions we offer to you.

Thank you for your continued partnership. I look forward to meeting – and working with – many more of you in the coming weeks, months, and years.

To learn more about TruStage, visit TruStage.com.