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Greetings from the LEVERAGE Team! We are thrilled to share the incredible success of the 2024 Southeast Credit Union Conference & Expo (SCUCE)! This year’s conference was a landmark event, bringing together industry leaders, innovative vendors, and enthusiastic partners to celebrate the spirit of collaboration and advancement in the credit union sector.
Our heartfelt gratitude goes out to all the partners, vendors, and sponsors who made SCUCE 2024 a remarkable event. Your presence and contributions were pivotal in creating an engaging and informative experience for all, and we genuinely appreciate your impact on the event's success. The LEVERAGE Networking After Dark party was a highlight of the conference! The evening was filled with vibrant conversations, new connections, and much fun. The energy and enthusiasm of the night were a testament to the strong sense of community within our industry. As we celebrate the success of SCUCE 2024, we are also incredibly excited about the future. Next year, we are rebranding our annual conference as the ENGAGE Conference! This new name reflects our commitment to fostering deeper engagement, innovation, and growth within the credit union community. The premier ENGAGE conference will be held at the Signia by Hilton Orlando Bonnet Creek on June 11-13, 2025. We are already planning an extraordinary lineup of sessions, speakers, and networking opportunities to continue elevating our industry. We can't wait to see you there! Thank you once again for making SCUCE 2024 a tremendous success. We look forward to seeing you at the ENGAGE Conference next year! Warm regards, |
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LEVERAGE is excited to announce a new strategic partnership with Clutch, a leading financial technology platform specializing in omnichannel consumer loan and deposit account opening solutions exclusively for credit unions. With Clutch’s innovative platform, credit unions gain access to cutting-edge technology that enhances member experiences while streamlining operations. Leveraging its expertise and collaborative approach, Clutch aims to empower credit unions to fulfill their digital aspirations and better serve their members in today’s rapidly evolving financial landscape. “With Clutch, credit unions can serve their members better, grow deposits, grow loan volume, and create efficiency gains,” said Steve Willis, President of LEVERAGE. “We’re excited about credit unions getting a chance to do more with the power of FinTech. Clutch will automate workflows, member accounts, and the loan process, all without unnecessary one-on-one interaction.” Clutch boasts a robust portfolio of over 110 clients and has garnered significant investment from distinguished entities such as Andreessen Horowitz, TruStage Ventures, and Curql. Founded by Nicholas Hinrichsen and Chris Coleman, both Stanford Business School alumni with a proven track record of success, Clutch is uniquely positioned to drive credit unions toward digital transformation while upholding the industry’s core values.” “This partnership marks a significant milestone in our mission to revolutionize consumer banking for credit unions,” said Nicholas Hinrichsen, CEO of Clutch. “We are thrilled to join forces with the LEVERAGE and the League of Southeastern Credit Unions to further our commitment to empowering credit unions and their members.” Credit unions’ collaborative ethos resonates deeply with Clutch’s values. “We believe in the power of collaboration and the mantra of ‘people helping people,'” added Nicholas. Together with our credit union partners, we are dedicated to fostering financial wellness and driving positive change in communities nationwide.” Brian Kaas, President and Managing Director of TruStage Ventures, one of Clutch’s investors, emphasized the transformative potential of this partnership. “TruStage Ventures is committed to bringing innovative solutions to credit unions that complement the breadth of solutions offered by TruStage.” Similarly, Curql highlighted the strategic significance of Clutch’s partnership with LEVERAGE and LSCU & Affiliates. “Clutch was one of our first investments, and we are really proud to see their products evolve and see their fast growth in the industry. We applaud any effort on their part to reach even more credit unions, and partnering with the League certainly highlights the collaboration we would like to see,” said Nick Evens, CEO of Curql Collective. With Clutch’s state-of-the-art platform, credit unions can efficiently identify and address members’ financial needs, ultimately enhancing member satisfaction and loyalty. By embracing digital innovation, credit unions can stay ahead in today’s competitive landscape while staying true to their mission of empowering communities. To learn more about LEVERAGE and Clutch, visit https://myleverage.com/solutions/clutch.php or contact a LEVERAGE Business Development Consultant at consult@myleverage.com. |
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At ODP Business Solutions, we understand that your primary goal is to serve your members with excellence. Partnering with LEVERAGE and ODP Business Solutions ensures that your credit union offers competitive products with better rates and fees than those typically found at other financial institutions. Our comprehensive suite of solutions is designed to help you reduce expenses, enhance operational efficiency, and meet sustainability objectives. Why Choose ODP Business Solutions? 1. Discounted Pricing and Quarterly Promotions 2. Real-Time User Dashboard 3. Sustainability Objectives 4. Subscription Services Comprehensive Solutions for Your Credit Union
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Ready to Get Started? If you don’t have an account yet, sign up here to start enjoying these exclusive benefits. Empower your credit union with the tools and solutions from ODP Business Solutions, allowing you to focus on what truly matters – your members. For more information about how ODP Business Solutions can help your credit union, please email us at consult@myleverage.com or call 855-9EXPERT (855-939-7378). |
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By John Pesh The legacy organizations that are thriving in the Experience Age are those that have mastered strategic pivots. From reengineering conventional products to reconfiguring entire business models, the changes these winners are making are all in the name of relevancy with stakeholders. For credit unions, two stakeholder groups receive the lion’s share of attention when strategists are shooting for relevancy: members and employees. One could argue, however, that nailing the employee experience is the more crucial win for credit unions. After all, people helping people becomes a fairly challenging mission when the people charged with helping are uninspired at work. Credit Unions Must Attract a New Kind of Leader Especially now, when top talent has more options for employment than ever before, attracting and retaining high-performing leaders requires a cultural willingness—and an effective plan—for on-the-fly transformation. That extends to an organization’s compensation strategy. The fact is credit unions with inflexible executive pay and benefits programs are finding it more difficult to attract the right executives to their C-Suites. Much of this has to do with the fact that credit unions need to attract a new kind of leader—one that has all the financial services acumen of a brilliant banking executive yet with layers of soft skills and change agency. Importantly, the new kind of leader has different—and in many ways, higher—expectations around compensation. With New Kinds of Leaders Come New Expectations Aside from being competitive, today’s top talent expects compensation packages to be personalized to their individual values and goals, as well as flexible enough to weather life changes or evolving financial ambitions. What follows are a few best practices for meeting these expectations through an evolved compensation strategy. Be Mindful of Multicultural Values C-Suites are diversifying, and with that diversification comes the need to be aware of nuances in beliefs, values—and even financial starting blocks—among executive candidates. To broaden the credit union’s perspective and raise awareness of different mindsets, hold learning discussions with multicultural employees, particularly those you want to include in your leadership succession plan. Ask empathetic and educated questions that expose executives’ biggest ambitions and dreams for the future. Aim Higher in Peer Analysis Credit unions can fall into the trap of compensating their executives just like their peers do. This has very little chance of succeeding in today’s intensely competitive talent environment. Instead, review the packages paid to the top leaders who are serving cooperatives (and banks) at least one asset class above. Do this at least annually to stay on top of competitive trends. Get Creative with Benefits Big salaries are not always in the cards for credit unions. Benefits, as a compelling part of the broader compensation package, can be more affordable. They can also be funded in ways that are highly beneficial to a credit union’s long-term financial success. Talk with a benefits consultant who has their finger on the pulse of the expansive employee benefits marketplace. They will be able to advise how to customize benefits to a particular executive based on their needs and preferences. Competing for top talent is tough—but not impossible. In fact, as younger generations of leadership rise in the ranks, mission-driven organizations are sensing a leg up in the battle for high-performing leaders who want to put their careers to work for good. Credit unions that successfully execute an agile compensation strategy will be in the best position to attract the kind of leaders who understand the mission. These leaders will have the skills to optimize that mission to bring about brighter financial futures for their members. The views expressed here are those of the author and do not necessarily represent the views of TruStage. |
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By Stephanie Hainje, Director of Marketing and Consultative Services, LEVERAGE Payment Solutions LEVERAGE Payment Solutions (LPS) offers a comprehensive suite of consulting services designed to provide credit unions nationwide with strategic consultative advice using industry best practices and benchmarking. One of the foundation services provided by LPS is Portfolio Consulting, which helps credit unions assess and manage their debit and credit portfolios effectively. This service includes reviewing debit and credit card portfolio performance metrics, benchmarking, and providing strategic recommendations to improve cardholder experience and increased portfolio growth to remain competitive in the overall payments industry. For example, since the launch of LPS Portfolio Consulting Services in 2021, our credit union’s credit card portfolio has grown by over 15%. In addition to Portfolio Consulting, LPS excels in payment Network Consulting. This service focuses on optimizing a credit union’s payment network participation and involves evaluating existing network setups to minimize expense and maximize interchange revenue. It is common to see credit unions who are “over networked” and enrolled in too many networks other than the Card Act requirement of one “affiliated” and one “non-affiliated” network. Another critical aspect of LPS’ consulting services is Invoice Consulting. This involves a detailed examination of a credit union’s payment processing invoice to identify inaccuracies, inefficiencies, and opportunities for improvement. Issuers need to understand their processor’s invoice line items, but most issuers do not. During a recent invoice review with a prospective client, LPS was able to identify over $4,000 in monthly savings for a $20M credit union by moving their processing relationship to LPS rather than a direct processor environment – without a processing conversion. Regardless of asset size, all credit unions with an LPS product or service have a complimentary, dedicated Portfolio Consultant to provide strategic recommendations for portfolio growth and profitability. Credit unions who do not have a LPS product or service can schedule a complimentary payments consultation with one of our payments experts by contacting consulting@myleverage.com or by visiting www.leveragepaymentsolutions.com. |
