LEVERAGE is excited to announce the next installment of its Learning with LEVERAGE webinar series, a complimentary educational platform designed to keep credit unions informed and prepared for the most critical topics in the financial services industry. These webinars cover a range of essential topics, including technology, operations, risk management, employee relations, and more. Mark your calendars for Tuesday, October 8, at 11:00 a.m. ET, when LEVERAGE will focus on one of the most pressing issues for credit unions: Vendor Management - Is Your Vendor Management Program Ready? In this webinar, Kelli Silvernale, Vice President of CUVM, and Brooke Collins, Manager of Sales and Service at CUVM, will guide you through how your vendors are navigating their world: Are you prepared if you vendors do business out of country? Make sure to join LEVERAGE every second and fourth Tuesday of the month for more insights on trending topics in financial services, from expense reduction and member relations to liquidity and lending. For more information, contact consult@myleverage.com. For a look at our past webinars, click here. |
As we move into the penultimate month of hurricane season, it’s essential to ensure your credit union is fully prepared for potential disasters. RecoveryPro is here to help you secure your operations, recover critical data, and maintain peace of mind during catastrophic events. Evaluate and Prioritize: Develop and Prepare: Test and Update: Safeguard Your Credit Union: With over 20 years of business continuity experience and guidance from the Federal Financial Institutions Examination Council (FFIEC), our program is fully vetted by multiple state and NCUA auditors. Ensure your credit union is ready for hurricane season and any other potential disasters with RecoveryPro—your trusted partner in business continuity and disaster recovery. Click here to learn more about what RecoveryPro can do for you and don’t forget to contact Compliance@lscu.coop to get started. |
Home Improvement Loans Student Loan Refinancing Private Student Loans Partner with LEVERAGE and LendKey to unlock new lending opportunities, participate in long-term products with solid returns and build stickier relationships with your members. Visit https://myleverage.com/solutions/lendkey.php or contact a LEVERAGE Business Development Consultant at consult@myleverage.com. |
In today’s digital landscape, the security of financial institutions is more crucial than ever. Credit unions, as vital components of the financial ecosystem, must prioritize cybersecurity to safeguard their members’ assets and trust. Implementing best practices in cybersecurity not only protects sensitive data but also fortifies the institution’s reputation and operational stability. Here’s why adhering to these practices is essential for credit unions. The Growing Cyber Threat Landscape Protecting Member Data Maintaining Regulatory Compliance Preserving Institutional Integrity Ensuring Operational Continuity Educating and Training Staff Investing in Advanced Security Technologies Collaborating with Cybersecurity Experts In an era where cyber threats are increasingly prevalent and sophisticated, credit unions must take cybersecurity seriously. Adhering to best practices in cybersecurity is not just a regulatory requirement but a fundamental responsibility to protect members’ data, maintain operational stability, and preserve institutional trust. By investing in advanced technologies, training staff, and collaborating with experts, credit unions can fortify their defenses against cyber threats and ensure the safety and security of their members' financial well-being. The commitment to cybersecurity best practices is not just a protective measure—it’s a strategic imperative for sustaining a secure and trustworthy financial environment Partner with LEVERAGE and CUVM to help your credit union get ahead of cybersecurity concerns. Visit https://cuvm.org/ or contact a LEVERAGE Business Development Consultant at consult@myleverage.com. |
By: Kevin Cummer, Director, Life Products for TruStage Life insurance is a crucial aspect of financial planning, providing a safety net for individuals and their loved ones. In recent years, the midmarket segment has gained prominence in the life insurance industry, showcasing its scalability potential. The mid-market consumer refers to households or individuals who fall into the $50,000 to $200,000 income bracket. These consumers are usually transitioning through key life events such as buying a home, getting married or having children. Life Insurance Demand is at an All-Time High According to a recent article by the Life Insurance Marketing and Research Association (LIMRA), 52% of American adults have life insurance, highlighting a large gap in unprotected consumers. Additionally, 41% of both insured and uninsured adults believe they could use more coverage. When we look at the differences between generations, there’s also a large gap that needs to be filled, particularly for younger consumers.
This gap in coverage for younger generations presents a great opportunity for providers to first educate consumers about the importance of life insurance and second help them find the right coverage for them. Why More Americans Don’t Have Life Insurance The biggest misconception behind life insurance is that it’s expensive. Many people believe it’s a luxury to have, and not something that could be afforded by more. An additional factor that plays into the lack of coverage are economic influences creating turbulent financial conditions for American adults. When households have financial strain, expenses will be cut down, and life insurance is not immune to this. Households with a lower income are less likely to buy a life insurance policy. A broker with access to multiple companies may be able to find affordable coverage for consumers with a lower budget. How Providers Can Engage with Mid-Market Consumers Gen Z and Millennials are more likely to be influenced by social media and online reviews when choosing a life insurance provider. They tend to be savvy consumers who will take the time to research companies and look for vendors offering differentiators that meet their needs. The mid-market consumer segment in life insurance presents a huge opportunity for providers. The ability to provide accessible, customized solutions to a diverse clientele sets the stage for sustained growth in the industry. By addressing the unique needs of the mid-market segment and leveraging technological innovations, insurers can build a robust foundation for the future, helping individuals across various income levels improve their financial well-being through life insurance. |