Credit Union Conversations

Chris and Mark go deep on what it is like to make the jump to your own attorney practice and small business. What's it like to work full-time and build a real estate portfolio? Credit unions around the country can connect with Chris at riceparklaw.com. IN THIS EPISODE:(00:00) Intro: Meet Chris Rice(01:49) Chris Rice's professional background journey(07:25) Chris shares his experience working with credit unions and what it was like starting Rice Park Law firm(13:02) The differences between commercial and consumer collections(16:51) Do not delay on a default notice(22:06) Chris advises on selecting an attorney and he gives his outlook on the futureKEY TAKEAWAYS: Attorney Chris Rice has launched Rice Park Law, focusing on credit union representation. His extensive background in real estate and restaurant ownership gives him unique insights into business operations and challenges.Commercial and consumer collections differ: Commercial loan collections are often more straightforward due to tools like the "confession of judgment" and the use of secured assets. Consumer collections, however, are more complex due to regulations and typically involve unsecured debt.Early legal intervention in loan defaults is key. Don't delay sending default notices and involve legal counsel early in commercial loan defaults. This helps avoid "lender liability claims" and allows for effective workout solutions like forbearance agreements, saving time and money.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInRice Park Law - WebsiteChris Rice - LinkedInBIOGRAPHY:Chris Rice is the founder of Rice Park Law. For the past twenty years, Chris has helped numerous credit unions with contractual, regulatory, loan closing, and workout issues. Chris is an entrepreneur who lives and practices out of Carlisle, PA.KEYWORDS: Credit Unions, Chris Rice, Rice Park Law, Commercial Collections, Consumer Collections, Small Business, Real Estate Portfolio, Business Lending, Commercial Lending, Real Estate, Renovation Projects, Restaurant Ownership, Carlisle Community, Lending Institutions

MBFS CEO Mark Ritter and a guest from his team catch up on the latest happenings at MBFS, the credit union industry, and other odds and ends.IN THIS EPISODE:(00:00) Introduction: Meet Craig Page(02:54) New ways of making a positive customer experience(05:44) Outdated ways of advertising, the Sunday newspaper and Black Friday shopping(08:42) The new ways of networking and connection: LinkedIn and Social Media like TikTok(12:49) MBFS is hiring - reach out to Mark by video callKEY TAKEAWAYS: Digital transformation has shifted business lending from traditional methods, such as cold calling and print ads, to platforms like LinkedIn, enabling more authentic and efficient connections.Customer experience is now king. Instead of focusing on volume-driven sales tactics, successful business lenders prioritize building relationships and delivering a seamless customer experience, which drives long-term loyalty and referrals.As in-person meetings decline, adapting marketing strategies to virtual environments through video calls, social media, and personalized digital content is essential for staying relevant and competitive.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedIn

Are you ready to rethink how young people approach money and build lasting financial confidence? Welcome to Credit Union Conversations, hosted by Mark Ritter, CEO of MBFS, a business lending CUSO serving clients across the United States and Puerto Rico. In this episode, Mark is joined by Todd Romer, who partners with credit unions to leverage his "Do Money Differently" financial education approach as a powerful tool to attract younger members. With paycheck-to-paycheck living at a record high of nearly 75% and rising, Todd's strategy challenges traditional financial advice, focusing on practical, transformative steps for young adults. Today, they'll dive into Todd's journey with Young Money University, the unique advantages credit unions offer, and actionable insights on investing and avoiding college debt traps.IN THIS EPISODE:(00:00) Intro(01:39) Todd Romer discusses Young Money University(05:20) Credit unions offer named savings accounts to save purposefully (09:36) You don't have to be an expert, start with a platform like Acorns(11:13) Upbringing shapes our money habits, set up a college budget and discuss career goals and costs(21.57) How to start investing in the stock market and its historical 10.2% annual return KEY TAKEAWAYS: Early exposure to investing shapes lifelong financial habits. To foster enduring financial confidence, begin teaching teens about money and investing. Providing young people with targeted financial education, emphasizing a distinctive approach to money management, is essential.Credit unions should emphasize their unique benefits, like named savings accounts, to attract younger members.Guide high schoolers to consider affordable education paths and discuss financial realities early to avoid debt. College debt is a growing concern, with many students unaware of cost-effective options.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInYoung Money University - WebsiteBIOGRAPHY:Todd Romer is passionate about financial education. He has helped thousands of people take on a new lease of life by providing them the exact steps to dream, save, spend, invest and give money DIFFERENTLY to reach goals/dreams. Todd also partners with credit unions to use DO MONEY DIFFERENTLY financial education as their most valuable marketing tool to drive younger membership growth.

MBFS CEO Mark Ritter and a guest from his team catch up on the latest happenings at MBFS, the credit union industry, and other odds and ends.IN THIS EPISODE:(00:00) Craig Page shares his professional background and responsibilities(01:57) Mark introduces a new, shorter episode format featuring MBFS team members(04:30) Mark and Craig discuss their moves from suburbia to rural areas(06:49) MBFS sees unexpected growth in 2025 in the CUSO(08:41) Craig explains the value of small credit unions in partnering with a CUSO like MBFS(10:32) Craig shares his reaction to the boom in lendingKEY TAKEAWAYS: The Credit Union Conversations podcast has introduced a shorter, more conversational format featuring "quick hitters." These episodes, airing twice monthly, will focus on current industry topics, updates from MBFS, personal anecdotes, and team insights, in contrast to their traditional long-form interviews.Despite expectations for a flat year, MBFS has experienced rapid growth, with seven new credit unions joining early in the year and 18 more in the pipeline. Loan volume has also increased, reflecting strong demand for its services.Smaller credit unions are increasingly entering the member business lending space but face resource and staffing challenges. MBFS offers a “plug-and-play” solution, handling everything from origination and servicing to loan workouts, making it easier for credit unions to scale without heavy internal investment.RESOURCE LINKS: Mark Ritter - WebsiteMark Ritter - LinkedInCraig Page - LinkedInMBFS, CUSO, Mark Ritter, Credit Unions, Growth, Lending, Origination, Servicing, Pipeline, Small Credit Unions, Team, Industry, Business, Partnerships, Future of Lending, Boom in Lending, Unexpected Growth, Partnering With MBFS, Services, Loan Volume, Business Lending

THE MBFS COO and resident SBA expert joins Mark today to try to make sense of the 2025 regulatory chaos. What's going on with the SBA? What changes are afoot? Are they good or bad for credit unions?IN THIS EPISODE:(00:00) Intro(01:48) Jeff Lyons' professional background and what has happened with SBA with the onset of the new administration(05:30) Discussion of lending fees and zero subsidy (08:00) Discussion of PPP Loans and non-bank, non-regulated lenders, delinquencies, and selling off SBA loans for a profit(15:49) Discussion of the stability of the SBA in uncertain times and what MBFS can do for a credit union to facilitate the SBA process(20:44) Jeff shares why SBA is beneficial for your credit unionKEY TAKEAWAYS: The SBA is shifting back to pre-COVID operations, reinstating previously waived borrower lending fees. This change aims to stabilize the SBA's finances, which had gone into negative cash flow due to fee eliminations during the pandemic.The new SBA Administrator, Kelly Loeffler, has brought staff back to in-person work and announced plans to streamline SBA operations. However, concrete changes in process efficiency are still pending, and a significant workforce reduction (about 43%) is underway to adjust for post-PPP staffing levels.Due to higher delinquency rates and lax underwriting standards in the SBA loan portfolio, non-bank fintech lenders are under increased scrutiny. As a result, future non-bank SBA lending licenses are unlikely, reinforcing the SBA's preference for traditional, regulated lenders like credit unions.Lender Service Providers (LSPs) like MBFS offer valuable assistance navigating the SBA loan process, but lenders must remain actively involved. LSPs can provide expertise and guidance to credit unions, helping them understand the requirements and streamline the application. However, the responsibility for the member relationship, underwriting, and overall loan management ultimately rests with the lending institution.RESOURCE LINKS: Mark Ritter - WebsiteMark Ritter - LinkedInJeff Lyons - LinkedInBIOGRAPHY: MBFS provides credit unions with all aspects of business lending services. Nu Direction Lending is an online financial technology company based in Feasterville-Trevose Pa. The company provides funding from $25,000 to $500,000 directly to small businesses through an automated lending platform.

Danielle Gallagher is the CEO of Eagle One FCU in Claymont, DE. She has been involved with credit unions since college and worked her way up to be named CEO in 2020. Danielle and Mark take a deep dive into her journey, what's new at the credit union, and look at a crystal ball for the future of small credit unions.IN THIS EPISODE:(00:00) Introduction(02:02) Danielle Gallagher's professional background, leading her to Eagle One FCU(05:40) A snapshot of services Eagle One Credit Union provides(10:47) Danielle Gallagher's experience of taking on the role of a long-tenured CEO(14:25) Discussion of being a CDFI (Certified Development Financial Institution)(20:05) Working with QSOs and what's working well at Eagle One(23:29) Danielle Gallagher advises credit unions regarding succession planningKEY TAKEAWAYS: Danielle Gallagher's career at Eagle One Federal Credit Union began during college breaks, influenced by her mother's role there. She progressed from a member service representative to gaining experience in marketing and finance and eventually becoming CEO. Her grandfather also worked for the credit union under its former name, highlighting a family connection to the institution.Eagle One is a small but "mighty" credit union with about $85 million in assets and four branches. It serves around 9,000 members and particularly values its relationships with USPS and Philadelphia Gas Works employees. Despite its size, Eagle One offers a wide range of services and prioritizes member service. The staff wears multiple hats due to its smaller team size.Danielle emphasized the importance of succession planning, noting that Eagle One's smooth transition was due to months of preparation. She contrasts this with the trend of credit unions merging due to a lack of future leadership. Eagle One is a certified development financial institution that helps serve underbanked communities.RESOURCE LINKS:Mark Ritter - WebsiteMark Ritter - LinkedInDanielle Gallagher - LinkedIn

Welcome to Credit Union Conversations. I'm Mark, and today's episode will be a little different. I don't usually record podcasts like this, but sometimes you just need to talk through what's been on your mind. There's been a lot happening in the business lending world, and I've been reflecting on where things stand—what's working, what's shifting, and what credit unions need to be paying attention to right now. This is more of a pulse check, a chance to unpack the momentum and opportunities ahead. So, thanks for joining me for this more personal take—I'm looking forward to getting into it with you.IN THIS EPISODE:(00:00) Introduction(00:49) Mark shares what's on his mind in the credit union space(02:41) Business is up this first quarter(06:16) The shrinking base of credit unions and the pay-for-play model of conventions(12:17) The CFPB and the CDFI and the NCUA(17:11) The changing culture of the credit union and what can be doneKEY TAKEAWAYS: Business lending is experiencing a resurgence, with increased demand from small businesses and credit unions. It's proving to be a reliable income stream even amid economic fluctuations, offering more stability than consumer loans and mortgages, which have been impacted by interest rate volatility and market changes.There is a growing need for stronger portfolio management and compliance resources due to rising—though normalizing—delinquencies and heightened regulatory expectations. The competitive landscape is also intensifying, with more entrants vying for a shrinking pool of credit unions, leading to thinner margins and greater pressure on service providers.Industry conventions, especially larger ones, are becoming less effective for meaningful engagement. The consolidation of major trade organizations has shifted event participation to a pay-for-play model, limiting visibility for value-driven providers. This, combined with rising costs, is prompting a reevaluation of outreach strategies and event participation.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedIn

I'm Mark Ritter, and this is Credit Union Conversations. Today, I'm joined by Austin Wentzlaff from Nook to discuss how credit unions can evolve beyond competitive rates and traditional relationships by using digital tools to deepen member engagement. We'll explore how Nook takes a fresh approach—focusing on lifestyle topics like travel, health, and relationships—to build trust and naturally drive financial product adoption. Plus, we'll dive into the role of venture capital in fintech, the challenges early-stage companies face, and what it really takes to bring innovation to the credit union space.IN THIS EPISODE:(00:00) Introduction(01:50) Austin shares his professional journey(07:36) Austin explains Nook's purpose and how it operates(13:39) How is the industry responding to the premise of Nook's purpose(17:44) What is in Nook's future and Austin explains the roots of FinTech Accelerator(25:16) Discussion of venture capital KEY TAKEAWAYS: The credit union industry has thrived on competitive rates and strong member connections, but digital tools now deepen engagement. By focusing on lifestyle topics over direct financial discussions, this approach builds trust and drives natural product adoption.Successful early-stage fintechs and QSOs must be innovative, not just marginally improving existing solutions. They should be in a pilot phase with limited clients and employees, and they must be genuinely committed to the credit union industry rather than just exploring it as a potential revenue stream.While venture capital provides diversification and reduces risk for credit unions, it can also create a disconnect. Historically, credit unions invested in QSOs they were already working with, ensuring strategic alignment. The shift toward aggregated investment funds may weaken direct relationships between credit unions and fintechs, potentially impacting strategic collaboration.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInAustin Wentzlaff - Nook - LinkedInNook - WebsiteAustin's EmailBIOGRAPHY: Austin Wentzlaff is the Co-Founder & CEO of Nook and brings 10+ years of credit union industry, CUSO, and Fintech startup leadership experience.Prior to starting Nook, Austin was the Founder and CEO of Fintech Accelerator, a consulting firm focused on bringing new technologies to the credit union industry, whose client list included CUSOs, RenoFi and Illuma, among other successful startups. Prior to founding Fintech Accelerator, he was the Chief Revenue Officer overseeing sales and marketing efforts at OnApproach, a CUSO acquired by Trellance in 2019. He has spent the entirety of his career in the credit union industry, where he has worked exclusively for Fintech startups from the earliest stages of growth through exit. Austin has extensive experience working with Fintech startups as an early employee (joining OnApproach, Illuma, and RenoFi all with less than 10 employees) and a key contributor, instrumental in their early success. Austin is an alumnus of Gustavus Adolphus College, where he received a degree in Financial Economics.

You'll quickly find out Mark and Rodney go way back and talk about the old days. What is a corporate credit union these days, and how can it help credit unions in today's marketplace? Rodney takes a deep dive into this topic today.IN THIS EPISODE:(01:40) Rodney shares his professional journey both in landscaping and the credit union space(05:08) Rodney defines a corporate credit union(09:47) Discussion of Mid Atlantic Corporate evolving into Vizo Financial and the business lines offered(14:04) AI service launched to assist credit unions identify and use their data effectively (18:54) Education and webinars provided and following current rules for credit unions(24:35) Who are the most successful clients at VizoKEY TAKEAWAYS: Corporate credit unions, which began in the 1970s and 1980s as liquidity providers for credit unions, have evolved to offer a wide range of financial services, including ACH, wire services, and fraud prevention. The sector has consolidated over the years, focusing on building economies of scale and offering more competitive services.The primary services provided by corporate credit unions today include competitive overnight investment accounts, ACH, wires, bill pay, and fraud prevention. Additionally, services like real-time payments (FedNow) and cyber security have become increasingly important, with a growing focus on helping credit unions protect against fraud and manage risk.A successful relationship with a corporate credit union is built on regular, open communication. Credit unions should utilize corporate services for their excess liquidity and reach out when new needs arise. The goal is to maintain constant engagement, ensuring both parties stay relevant and that credit unions maximize the benefits of available services.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInVizo Financial - WebsiteBIOGRAPHY: Rodney May is the Chief Engagement Officer of the $4 billion Vizo Financial. His primary focus is directing all business development functions including marketing, investment sales, product sales, call center, back-office services, correspondent service implementation, core system support/implementation and member services.

Mark and Kyle catch up on Mark's flaws and frustrations of trying to do everything himself. Kyle talks about his career journey and life as an entrepreneur and how they assist business owners. IN THIS EPISODE:(02:38) Kyle Walburn's entrepreneurial journey and the creation of Efficient Aide(10:44) Efficient Aide offers services in various skills of fractional support for remote work(19:10) Kyle describes the situations that will benefit from his services(21:39) Kyle predicts how he sees small businesses thriving in the future(25:01) Advise for entrepreneurs who want to start a businessKEY TAKEAWAYS: Kyle Walbrun founded Efficient Aide, inspired by his uncle's entrepreneurship and his father's work ethic. Combining marketing, finance, and communication skills, he grew a solo virtual assistant service into a 50-person team, helping businesses operate efficiently without full-time overhead.Businesses are increasingly comfortable with remote work and fractional roles, which allow them to tap into a wider talent pool without needing full-time, in-office staff. Leaders realize that many tasks don't require immediate, on-site attention and can be effectively handled by experienced remote professionals at a lower cost.Advances in remote work, fractional hiring, and AI are making it easier than ever for entrepreneurs to start and scale businesses without heavy overhead costs. Outsourcing non-core tasks allows business owners to focus on growth, strategy, and innovation rather than day-to-day operations.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInEfficient Aide - WebsiteBIOGRAPHY: Kyle Walbrun is the founder and CEO of Efficient Aide. He focuses on finding, training, and managing executive assistants for entrepreneurs nationwide. You can learn more about their services by connecting with them at info@efficientaide.com.

Welcome to Credit Union Conversations! In today's episode, host Mark Ritter is joined by the industry's leading expert, Mark Treichel, to uncover the mysteries of the NCUA exam and guide you through its complexities. With insights on risk management, cybersecurity, and evolving regulations, Mark Treichel offers invaluable advice on navigating credit union challenges, especially with a new administration in place. Tune in as they discuss everything from working through exam processes, the impact of office buyouts, to the current state of credit risk and empty office spaces. Plus, get an insider's look into the concept of regulation by enforcement and how credit unions can better manage their cybersecurity efforts. Stay with us to hear Mark's advice on reaching out and getting expert assistance on your next NCUA exam.IN THIS EPISODE:(00:00) Introduction (01:34) The NCUA exam and a new administration(09:27) Buyouts and requirements of working in person(13:27) Credit risk management and empty offices(19:10) Cybersecurity and regulation by enforcement(27:53) Connect with Mark TreichelKEY TAKEAWAYS: The change in administration, particularly moving from one political party to another, significantly influences the NCUA's priorities and approach. This shift often creates chaos as new leadership adjusts priorities and regulations. The NCUA is currently dealing with internal challenges, such as a hiring freeze, regulatory pauses, and staff buyouts. These factors contribute to uncertainty within the agency and affect its ability to fulfill its mission effectively. The chaotic environment could lead to turnover, with highly skilled employees either retiring or leaving for other opportunities.There is a focus on "regulation by enforcement," where policies are often clarified through enforcement actions rather than proper regulation. This creates ambiguity and strain on organizations, and there is a push for rules that strictly follow the intent of the law to avoid overreach and unnecessary penalties.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInWith Flying Colors - PodcastMark Treichel - WebsiteCredit Union Regulatory Guidance - PodcastBIO: With 33 years of experience at NCUA, I've served in key roles, including Executive Director, Regional Director, Director of Special Actions, Supervisory Examiner, and Principal Examiner. Starting as a ground-level examiner, I rose to the organization's top. As Executive Director, I supervised Regional Directors, gaining unparalleled insight into NCUA's operations and decision-making processes.Our TeamI lead a team of former NCUA experts with a combined experience of over 240 years in credit union regulation and supervision. This wealth of knowledge allows us to provide comprehensive, insider perspectives on all aspects of credit union operations and regulatory compliance.How We Can HelpWe offer assistance with a wide range of credit union challenges, including:1. Examination preparation and response2. Regulatory approval processes3. Document of Resolution (DOR) issues4. CAMEL code assessments and improvements5. Risk management (credit, interest rate, liquidity, etc.)6. Regulatory compliance (BSA, Fair Lending,...

Welcome to Credit Union Conversations! In this episode, we wrap up our series on the powerful partnerships between credit unions and small business owners with an inspiring entrepreneurship and financial collaboration journey. Host Mark Ritter is joined by George Florence from American Heritage Credit Union and Ross Hammer from Cape May, New Jersey, to explore how credit unions play a vital role in supporting ambitious entrepreneurs. From Ross's unconventional path—dropping out of school and moving to Hong Kong—to securing an SBA loan with the backing of key mentors, this episode highlights the resilience and opportunity that credit unions help create. We spotlight Pennsylvania's American Heritage Credit Union and its commitment to empowering small businesses. Stay tuned for valuable insights on lending, perseverance, and the unexpected opportunities that shape success!IN THIS EPISODE:[2:38] George describes his role at American Heritage Credit Union [3:53] Ross shares his background[12:08] Ross drops out of school and moves to Hong Kong, and the inspiration he received from a book and wanting to be an entrepreneur [17:36] Applying for an SBA loan and getting support from key people and an unexpected windfall and a new venture[29:07] Ross connects with American Heritage Credit Union to apply for a small business lending loan[38:56] Ross advises lenders about giving people an opportunityKEY TAKEAWAYS: Ross Hammer demonstrated relentless determination despite financial struggles. He hustled to secure funding for his food truck, even using Coinstar to cash in change and taking a chance on fantasy football, which ultimately led to an unexpected windfall. His story highlights the importance of persistence and thinking outside the box to achieve goals.Key figures played crucial roles in his entrepreneurial journey. Their belief in him, financial support, and guidance helped him transition from food trucks to real estate, proving that strong networks and mentorship can be life-changing.After initial failures in the food truck business, Ross pivoted to real estate, recognizing an opportunity in distressed properties. Instead of flipping houses for a quick profit, he focused on revitalizing neighborhoods and renting them out, eventually building a substantial portfolio. His story underscores the value of adapting to market conditions and thinking long-term.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInAmerican Heritage Credit Union - WebsiteRich Dad, Poor Dad - BookZest Cape May - WebsiteTaco Caballio Tequileria - Website George Florence - LinkedIn

Welcome to Credit Union Conversations! This week, we continue our series exploring the impactful partnerships between credit unions and small business owners. Host Mark Ritter is joined by Josh Green from American Heritage Credit Union and Ted Van Beuren, the visionary behind United Sports in Pennsylvania. This episode delves into the successful collaboration between these two entities, showcasing how a strong credit union partnership can empower businesses to thrive. Discover how American Heritage has supported United Sports' growth, learn about Ted's entrepreneurial journey, and gain valuable insights for aspiring business owners. Today, we're heading to Pennsylvania to spotlight the American Heritage Credit Union—don't miss it!IN THIS EPISODE:[1:33] Josh shares his role at American Heritage Credit Union[3:41] Ted reveals how he saw the need for the sports complex he developed and gives his forecast on soccer in the United States[12:20] Ted shares some of the challenges of operations[15:00] Josh shares how American Heritage and United Sports partnered[18:00] Ted feels that working with the credit union has expedited the services they need at United Sports [19:51] Ted advises prospective entrepreneurs KEY TAKEAWAYS: Building strong partnerships is crucial for business success. The importance of cultivating long-term, mutually beneficial relationships between businesses and their financial institutions cannot be overstated. The partnership between United Sports and American Heritage Credit Union exemplifies this, demonstrating how a strong relationship can go beyond simple lending and encompass a range of support, from depository services to community involvement.Patience and a long-term vision are required in the entrepreneurial journey. Careful research, planning, and a willingness to adapt to unforeseen challenges are essential. You must demonstrate perseverance and a steadfast commitment to the long-term goal.United Sports and American Heritage Credit Union is committed to giving back to the community. This shared value strengthens their partnership and creates a positive impact beyond their core business activities.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInUnited Sports - WebsiteAmerican Heritage Credit Union - WebsiteJosh Green LinkedInTed Van Beuren LinkedIn

Welcome to Credit Union Conversations! This week, we kick off an exciting new series focused on the relationship between credit unions and small business owners. Host Mark Ritter is joined by Nathan Crouch from Erie Federal Credit Union and one of their standout business members, Joseph Markiewicz. Together, they'll explore the ins and outs of the lending process, from the challenges business owners face to the qualities they value most in their financial partners. Tune in as they discuss real-world experiences, share insights on what credit unions can do better, and highlight how these partnerships drive success for local businesses. Today, we're heading to Northwest Pennsylvania to spotlight Erie Federal Credit Union—don't miss it!IN THIS EPISODE:[3:11] Nathan explains his role at the credit union [6:24] Joe explains how he decided to go into business for himself[15:29] Why Joe made the switch to managing a wedding venue[19:41] Nathan describes how the credit union assisted with Joe's small business plan[21:35] Joe's relationship with the credit union and why he trusts them[26:13] Nathan sees a growth outlook for small business in his area, and Joe offers advice to other entrepreneurs KEY TAKEAWAYS: A key takeaway from the discussion on financing the wedding venue is the value of strong relationships between members and their credit unions. Nathan Crouch highlights the importance of detailed planning, including business plans and cash flow projections, when evaluating unique loan requests like this one. The credit union's willingness to collaborate and leverage community resources reflects its adaptability and commitment to supporting members' entrepreneurial ventures. The members' loyalty to the credit union stems from competitive lending rates, excellent customer service, and open, honest communication with their financial advisors.The outlook for the small business environment is optimistic and growth-oriented. Despite the typical seasonal slowdown in commercial lending during the fourth quarter, there has been robust loan demand. This indicates that business owners remain confident in the economic conditions and actively pursue growth opportunities. Credit union employees see this as a positive sign, reflecting a robust mindset among local entrepreneurs and a willingness to invest in their businesses despite external challenges.It is critical to start with strategic planning and balance. Instead of constantly chasing growth, small businesses should focus on achieving efficiency, streamlining processes, and aligning goals with personal priorities. Learning from the successes of others, taking educated risks backed by thorough research, and being open to feedback from trusted sources. Joe's approach underscores that success often comes from leveraging proven ideas and maintaining a clear sense of purpose rather than attempting to reinvent the wheel.RESOURCE LINKS: Mark Ritter - WebsiteMark Ritter - LinkedInEdinboro Storage Center - WebsiteCountry Elegance Venue - WebsiteBIOGRAPHIES: Joe Markiewicz is the owner of a wedding venue in Erie, PA.Nathan heads up business lending at Erie FCU.

This week, Mark welcomes Nicol Matthews, the principal behind Harvest Coaching & Consulting, to discuss how credit unions can drive sustainable growth in a competitive financial landscape. Credit unions can strengthen their market position by building a strong sales culture, developing effective leadership, and expanding business services. Nicol shares insights on how establishing a sales culture through consistent coaching, aligning leadership with a long-term vision, and growing business services—particularly deposits—can help credit unions enhance their impact, build stronger relationships, and ensure long-term stability.IN THIS EPISODE:[3:28] Nicol shares her background and why she launched Harvest Coaching & Consulting[10:20] How credit unions should adopt a sales culture with goals and leadership to maximize growth[16:07] Nicol shares her thoughts on credit union leadership[21:44] Building business services and membership[28:09] Nicol shares the advantages of having a fractional executiveKEY TAKEAWAYS: Establishing a thriving sales culture within a credit union requires more than just launching a program. It involves setting clear goals, providing consistent coaching, and allowing gradual implementation over time. Leaders must create a foundation that aligns with the organization's values and continuously build it, ensuring that empathy, integrity, and honesty are incorporated into the sales approach.Leadership development should be an ongoing process, not a one-time event. Whether someone is new to the C-suite or has been in the role for years, investing in executive leadership growth is key to fostering a positive organizational culture and long-term success. When needed, regular coaching, feedback, and external guidance can provide a fresh perspective and push leaders to improve.Credit unions can increase liquidity and grow their membership base by focusing on business services, especially deposits. Viewing business accounts not just as a line item but as a strategic growth area is essential. Implementing business deposit products and offering alternatives to banks can position credit unions as valuable resources for small businesses, ultimately driving growth in deposits and loans.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInMonday Morning Leadership - BookNicol Matthews - EmailHarvest Coaching & Consulting - WebsiteBIOGRAPHY: After a long and successful executive career in building credit unions, Nicol Matthews is now the principal behind Harvest Coaching & Consulting. Nicol can be reached at nmatthews@harvestcoachconsult.com.

This week, Mark welcomes Scott Jordan from the Alternative Finance Network to explore the unique landscape of alternative lending in the cannabis industry. Scott shares insights from his career journey, breaking down who the key lenders are and what makes alternative financing work for this fast-growing sector. From discussing the legal challenges at state and federal levels to predicting the industry's growth to $100 billion by 2027, Scott offers a deep dive into cannabis financing and what the future may hold for businesses and lenders.IN THIS EPISODE:[2:20] Scott shares a bit about himself and his career journey[4:41] Scott explains who the lenders are in the Alternative Finance Network and the risks and perceived risks[9:36] Who are the customers of Alternative Finance Network, and discussion and examples of exit strategies for those businesses[14:23] Discussion of federal and state legalities for providing financial services to the cannabis industry[20:30] How the lending environment changed since the availability is more widespread[23:25] Scott gives his predictions of where the cannabis business is going from the business and financial services side KEY TAKEAWAYS: Alternative financing for cannabis-related industries comes from diverse sources, including cannabis-friendly banks, credit unions, leasing companies, and specialty lenders. Many of these funds ultimately trace back to banks or wealthy private investors, creating a network that enables specialized lending.In alternative lending, high interest rates can't compensate for risky investments with low repayment potential. Successful lenders look for market mismatches, where perceived risk is higher than actual risk, creating opportunities for smart, lower-risk lending.Scott predicts continued growth in the cannabis industry, predicting it will reach $100 billion by 2027. He anticipates gradual state-by-state legalization and eventual federal regulation, especially for safer, cashless payment solutions. They're optimistic about expanding services, including mainstream credit card options and international market entry, and see social equity initiatives as pivotal for industry inclusivity and growth.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInScott Jordan - LinkedInAlternative Finance Network - WebsiteScott Jordan - EmailBIOGRAPHY: I created the Alternative Finance Network to serve marijuana and hemp business owners by providing one-stop shopping for all your cannabis loan needs. Whether it is financing real estate, equipment, working capital, or accounts receivable I have a funding source who can fund that loan AND get you the best possible rate and terms for your needs.

This week, Mark Brennan joins Mark to discuss his incredible journey in the credit union industry, from the highs and lows to his experiences in leadership and the transition into retirement. Mark's had a remarkable career, spending nearly 27 years with Clearview Federal Credit Union, including 17 years as CEO, where he brought his unique HR and strategic planning background to the role. IN THIS EPISODE:[2:53] Mark Brennan shares his background with US Airways and Clearview Federal Credit Union[7:59] The credit union was presented as a company benefit[17:36] Changing the name of the credit union and welcoming the community-required education[23:05] Collaborating with other credit unions and succession planning[29:16] Mark advises C-Suite people wanting to move forward[31:00] Mark shares his retirement lifestyle and his parting thoughts on the credit union industryKEY TAKEAWAYS: Presenting a credit union as an employee benefit highlights its value and encourages employees to explore how it can support their financial well-beingCredit unions prioritize community over competition, collaborating to strengthen local support, unlike banks that often focus on acquisitionsWorking at a credit union can be deeply fulfilling. Mark Brennan reflects fondly on his time at Clearview Federal Credit Union, sharing that the relationships with his coworkers and the supportive environment made it the highlight of his careerRESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInApplied Valuation Services - WebsiteMark Brennan - LinkedIn

This week, Mark is joined by Greg Schatzke of Servion to discuss the new real estate agency rules and how they impact credit unions. Greg also gives us a state of the world and discusses untapped options for credit unions.IN THIS EPISODE:[2:33]Mark and Ashley introduce themselves[4:02] Servion Group has five businesses under its umbrella[7:00] Rules have changed for real estate contracts[11:14] Greg explains how the NAR changes have created additional paperwork, and there are no standardized documents across the nation[17:06] Ashley explains how this could open the door to discrimination[21:28] What sets mortgage lenders apart?[26:40] Ashley recommends that credit unions take assessments of their performance metrics in all phases of their business[28:27] Ashley reveals the key to success for a real estate agency partnering with a credit union[30:11] The guests make their predictions for the coming years for credit unions, real estate commission structures, and interest ratesKEY TAKEAWAYS: Servion has five business units under the Servion Group: Servion Mortgage, Servion Realty, Servion Residential Title, Servion Financial Advisors and Servion Commercial Loan Resources. All of these businesses work with credit unions across the country.The NAR settlement has reshaped the real estate market, increasing buyers' responsibility to understand and negotiate agent commissions. Nationwide, buyers now need to sign a representation agreement before viewing homes, pushing for greater commission transparency. States like Minnesota, already familiar with buyer representation, will reinforce these practices as buyers adjust to these new requirements.The NAR settlement means that casual home visits are more restricted—buyers can't simply call the listing agent to see a property unless they've signed a buyer representation agreement. This adds transparency but makes the process more complex. The exception is open houses, where buyers can still look without needing an agreement, but that could lead to additional costs for the buyer down the road.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInServion - WebsiteAshley Rabamahefa - LinkedInGreg Schatzky - LinkedInContact Servion at 800-631-3111BIOGRAPHY: Greg Schatzke is the VP of Mortgage for the CUSO Servion based in Minnesota. In his role, Greg is responsible for overseeing the daily operations of Servion Mortgage and their 500+ retail, correspondent and wholesale partnerships.Ashley is a dedicated professional in the real estate industry, currently serving as an Agent Coordinator and Realtor at Servion Realty. With a background as a Property Manager overseeing portfolios of over 500 units and leading multi-million dollar remodeling projects, Ashley's expertise extends across various facets of real estate.Driven by a passion for helping people, Ashley transitioned to residential real estate as a Realtor, where she finds fulfillment in guiding clients through the home buying and selling process. Her commitment to making life-changing decisions more accessible for others is the cornerstone of her approach.Beyond her work in real estate, Ashley...

Mark goes 1-on-1 with Erie FCU CEO Brian Waugaman on various topics in and out of the credit union space. What's it like to live in Erie? How did he navigate becoming CEO after a long tenure at the credit union? What's working and what needs work today? What is Brian's crystal ball on the future? All this and more as Mark Ritter and Brian chat it up. IN THIS EPISODE:[1:32] Brian shares his career journey, and he arrived at Erie FCU[4:56] The history of Erie FCU and managing the business around Erie's winter conditions[10:33] Brian discusses working his way through the organization and the importance of community[16:45] Brian talks about the process of becoming CDFI certification and his hopes to provide funding for small business owners[21:32] Brian discusses how to drive commerce, get involved in the community and market CDs to benefit members[27:50] What is the future of the credit union space KEY TAKEAWAYS: When promoted within a company, success hinges on building trust and fostering cooperation with colleagues. Clear communication, defined responsibilities, and accountability are essential. Stay focused on the organization's vision and mission to lead effectively.Erie FCU refined its vision and mission to focus on becoming the most trusted financial resource in the region and delivering responsible financial solutions that meet community needs. These guiding principles shape the credit union's daily efforts and long-term success.Erie FCU sees technology and innovation as key future drivers. While member satisfaction has declined compared to larger banking competitors, the credit union recognizes the need to adapt to evolving technological expectations, similar to the "Amazon effect," to stay competitive and meet member needs.RESOURCE LINKSMark Ritter - WebsiteMark Ritter - LinkedInBrian Waugaman - LinkedinErie FCU - WebsiteBIOGRAPHY: Brian Waugaman is a longtime veteran of Erie FCU and has been its CEO for the last ten years. He is well-rounded in his credit union skills and touched virtually all aspects of the institution during his tenure. Erie FCU is a CDFI focused on the communities in northwest PA.

Welcome to this episode of Credit Union Conversations with Mark Ritter, where we delve into the strategies that set credit unions apart in a competitive financial landscape. Today, Mark is joined by Bill McKenna from McKenna Marketing, who brings a wealth of experience from the advertising industry to the credit union space. Together, they explore the critical importance of building strong, core relationships with members, ensuring they feel valued and connected to their credit union. This connection is essential to prevent members from seeking alternatives and to maintain their loyalty. Bill shares actionable insights on branding, the challenges credit unions face in attracting and retaining members, and the evolving needs of the credit union community. Tune in as they discuss how a well-executed vision and a focus on member relationships can propel credit unions to the forefront of the industry.IN THIS EPISODE:[0:24] Mark invites the listener to check out MBFS, which is an a la carte service provider[1:22] Mark introduces Bill, and he shares his journey from the advertising business to the credit union space[6:22] Bill describes what McKenna Marketing does, and Mark and Bill discuss the evolving credit union from days gone by[10:29] Bill discusses four topics that will remove obstacles and make way for the growth of your credit union, and they discuss which credit unions need deposits and not loans[15:37] Bill outlines the problems credit unions are having in attracting new members and keeping the members they currently have[19:20] Discussion surrounding competition and rising to the top of the competition[25:04 Discussion surrounding the sales and service culture and the benefit of face-to-face consultationsKEY TAKEAWAYS: The branding of your credit union is critical for recognition to your communityA credit union must have a vision of where they are going, understand what opportunity looks like, and determine whether it can be a reality. Then, you must execute those ideasBuilding a relationship with members is the most essential thing a credit union can do. People want to know that you care about what's important to them, so create value in your marketing messageRESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInMeKenna Marketing - WebsiteBill McKenna - LinkedInBIOGRAPHY: My passion is to learn more about you and your companies' goals. I'm passionate about building relationships, starting conversations, sharing ideas, and adding value to your organization. I've learned first-hand that no one person has all the answers. I'll learn from you first then we will combine our knowledge, experiences and expertise with the right partners to magnify opportunities, empower growth, and achieve results.I've had the privilege of working with more than 500 credit unions and community banks nationwide on marketing and growth strategies. I don't know everything, but I've seen first-hand what works, and what does not. Every partner I've chosen to be part of McKenna Marketing Network brings a wealth of expertise, experience, vision and insights. It's not one size fits all - It's about identifying what works for you. My roles have including Art Director, Creative Director, and Vice President of Marketing and New Business Development for several marketing and advertising agencies located in New York, New Jersey, and Pennsylvania.I'm the former President

How does Julie get one of the most laid-back CEOs to organize the company and get the team focused? Find out when Julie and one of her most difficult engagements discuss the EOS process and benefits. IN THIS EPISODE:[0:26] Mark describes how Julie has been a catalyst for MBFS[3:22] Julie shares her background that has brought her to the position she holds today[5:36] Julie defines EOS (Entrepreneurial Operating System) and outlines the tools: Vision, Traction, Healthy and she describes the type of companies she works with. Mark describes his need for these services[9:13] Julie describes the types of issues companies are experiencing, and she discusses delegation and leadership[13:46] Julie shares how she approaches an established CEO[16:40] Discussion about the traction component and the correct approach to vision creation and problem-solving[23:51] Julie shares personal information about her life KEY TAKEAWAYS: EOS focuses on Vision, Traction and a Healthy environment for your businessWe live in a 90-day world, so leaders should meet every 90 days to ensure everyone is clear on the vision and analyze how the last quarter met those goals. An organization should set priorities for the next 90 days to ensure progress toward achieving the one-year plan, the three-year goal, and the ten-year targetEOS is a program that teaches leaders to create leaders and ultimately makes everyone in the organization responsible for some portion of the vision you have for your businessRESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInEOS - WebsiteJulie Markee - LinkedInJulie's Chicken BlogBIOGRAPHY: Julie Markee is a lifelong entrepreneur who started her first business at 12 when she was the go-to swimming instructor in her neighborhood. She graduated from the University of Washington with a degree in Chemical Engineering and began her career as a process engineer. While her engineering mind allows her to find the quickest path to achieve the desired results intuitively, her real magic is her excellent communication skills that help others see the path and dare to follow along with her. What's behind that magic? Her passion for people and her desire to help them reach their full potential. Julie is now an EOS implementer for companies nationwide--including MBFS.

What type of impact does credit union advocacy make? How important is it to the success of credit unions? Mark and Samantha Beeler of LSCU talk about everything that goes on at our trade associations outside of the conferences we attend. Also, what is the future of trade associations for credit unions?IN THIS EPISODE:[0:25] Mark provides information about the services of MBFS and how he began his position at a credit union[2:32] Samantha shares her background, what brought her to her current position and an overview of the LSCU[5:59] Samantha discusses how LSCU is an advocate for credit unions and how they lobby lawmakers about what credit unions are doing in their communities[8:30] Discussion surrounding the familiarity of senators and members of Congress with the credit union space and how to take that sentiment and turn it into policy, and the differences between the accessibility of state and federal officials[13:10] Discussion of topics the LSCU is currently fighting for[17:28] Discussion of why LSCU is thriving and ways for Credit Unions to benefit from the LSCU without attending a conference[23:43] Samantha talks about becoming a partner with the National Trade Association KEY TAKEAWAYS: LSCU represents the credit unions in Florida, Georgia and AlabamaThe Foundation is well known in the region because it helps with disaster response and professional development. The LSCU assists credit unions through a for-profit solution, advocacy or foundation solutionLSCU is rolling out a program called Communities over a Connect platform, a free way for credit unions to gatherRESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInSamantha Beeler - LinkedInSamantha Beeler - NewsletterBIOGRAPHY: Samantha Beeler is the President of the League of Southeastern Credit Unions (LSCU), the trade association for Georgia, Florida, and Alabama credit unions. She began her credit union journey at the Northwest Credit Union Association before transitioning to LSCU as its leader.

Bryan and Mark go round-robin on the state of the lending world and working with partners to build your lending program. What's the state of the world like in 2024? Bryan looks into his crystal ball to discuss what volumes will be like in 2024 and 2025. What's it like to get pitched by every potential lending partner in America every week? How do you separate the good partners from the pretenders?IN THIS EPISODE:[1:43] Brian shares his background story and that of American Heritage[5:34] Brian reflects on how he ended up in the credit union space[9:29] Brian discusses the last four volatile years in the credit union field[13:45] Discussion of the anticipated events for 2024, what actually transpired, and predictions for the future.[21:22] Discussion of FinTechs and Bryan's appreciation of them if they have shared values and common ideals[27:04] Discussion of NCUA, being transparent and doing due diligence to develop a clear plan [29:54] Brian discusses AI and the displacement of financial institutions, and he uses UBER as an example[33:07] Brian reflects on mistakes and lessons learned KEY TAKEAWAYS: Today, we need to price the secondary market, meaning not just the rate but making sure we're originating based on our guidelines and practices. Then, we should consider making every loan on our balance sheet sellableFrom a member impact, this higher inflationary period meant higher loan payments and home purchase costs. Everything was higher, and you were getting less for your money. The credit impact was higher delinquencyMore importantly than having a plan to use FinTech, you must have a good problem to solve. If you don't have a significant problem, don't work with FinTech to implement a solution. Implement and work with a FinTech to solve a problem you're dealing with todayRESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInBryan Eichenbaum - LinkedInBIOGRAPHY: Bryan Eichenbaum is the current SVP of Consumer Lending for American Heritage Credit Union, a $5B Credit Union headquartered in Philadelphia. He has over 20 years of experience in lending at various credit unions in New York and New Jersey. Bryan is considered an expert in cultivating strategic opportunities, building niche products and services that align with credit union demographics, mission and values, delivering strong business outcomes that build capital and sustained growth and positions credit unions to remain viable and relevant in a changing financial and economic landscape.

Today, Mark Ritter shares his insights on the state of credit unions and strategies for running a successful credit union. He discusses the challenges and benefits of working remotely and emphasizes building strong community relationships. Mark also offers his perspective on whether attending all available conferences is wise. His comprehensive analysis aims to guide credit union leaders toward sustainable success.IN THIS EPISODE:[0:24] Mark gives an update on his life and MBFS, and discusses working remotely for himself and how other businesses manage to work remotely[5:02] Mark invites the listeners to reach out to mritter@mbfs.org with topics and guest suggestions for future podcasts [9:04] How MBFS can help Credit unions who are struggling as a neutral third party, and Mark discusses working with Inclusive, a National Trade Association of Community Development Credit Unions[11:06] Mark discusses the need for SBA loans, and he advises making lasting relationships to ensure success in the credit union space and seeking out the 95% who are not using a credit union[17:15] Mark discusses being on the road going to conferences and his desire to see conferences educate the attendees and discuss topics to problem-solve issues[21:36] Mark wants to provide value to credit unions, and he appreciates you, the listenerKEY TAKEAWAYS: Mark is interested in providing content through his podcast that listeners want to hear, so if a listener has a suggestion for a topic or a guest, contact Mark.Credit unions will be successful if they work hard to build relationships. Don't rely on a large commercial loan to sustain you; instead, focus on the community, build relationships, and reach 95% of those not using credit union services.Conferences have become very expensive. It would be helpful to have more conferences that deal with the issues and problems a credit union faces rather than hear motivational speakers. RESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedIn

Bill Beardsley of Michigan Business Connection joins our host, Mark Ritter today to hit a wide range of topics from the credit union and non-credit union worlds. Since Bill's office is in Ann Arbor and he's a Michigan State fan there will bound to be some Big Ten talk sprinkled in the conversation.IN THIS EPISODE:[2:26] Bill shares his professional background[7:47] Discussion of the creation of QUOS and the NCOA[13:13] Bill discusses his role at NACUSO and its function[17:17] Bill explains what is working for credit unions in 2024 and what challenges he expects[25:07] Discussion of grooming people within the credit union space to continue the business when leadership positions become available and the way the NCUA could improve[32:07] Bill gives his advice on starting a new QSOKEY TAKEAWAYS: The culture of the banking industry and the credit union space are vastly different. With a credit union, it is about relationship building in the communityQUOS's success is due to its focus on the consumer rather than just making moneyCollaborative relationships among QUOS and credit unions create an atmosphere of cooperation and knowledgeRESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInMichigan Business Connection - WebsiteNACUSO - WebsiteBIOGRAPHY: Bill Beardsley is a financial services professional with more than 30 years of business and community organization leadership responsibilities. Led the start-up of the MBC "CUSO" in 2004 to energize and enable Michigan credit union success in commercial lending; now recognized as a leading CUSO in the USA with more than $1.5 Billion of commercial loan commitments under management. Board member for NACUSO, the national trade association for CUSOs, frequent industry event speaker related to CUSOs, collaboration, credit risk and commercial lending and personal advocate for the American Red Cross, American Foundation for Suicide Prevention and the Cystic Fibrosis Foundation.

Today, Mark is joined by Seth Brickman, President of Ranqx, to discuss small business digital lending. Seth shares insights from his time working with Microsoft and Amazon and how he uses what he's learned to help small businesses. IN THIS EPISODE:[2:22] Seth shares his background story leading him to Ranqx[4:08] Discussion of how lending to small businesses has been transformed by digitizing the process[7:18] Seth talks about what it was like working at Microsoft and Amazon[12:15] Seth compares working for billion-dollar companies to working in the credit union space and how to make a QSO run efficiently[20:39] Discussion of the automation of credit unions and changing focus to small business loans rather than property loans[26:01] Discussion that Ranqx was founded in New Zealand and how they are funded KEY TAKEAWAYS: Credit unions care about people. Although they are in business to make money, they focus on customer care and serviceLending money to small businesses helps communities prosperAutomating the credit union process will ensure quicker decisions than in the pastRESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInSeth Brickman LinkedInSeth Brickman - EmailRanqx - WebsiteBIOGRAPHY: Seth is an innovative leader with a successful track record of building software products customers love to use and transforming businesses through the use of data-based decision making and conversion rate optimization.As Head of Product for Amazon and leading high performing technical teams at Microsoft and Carnival Corporation, he has seen many successes and has consistently grown customer satisfaction/engagement, revenue and EBITA.As a veteran of the US Navy and MBA Adjunct Professor, Seth gets to regularly interact with future leaders and also grow his own knowledge base.

Lance Teinert and Mark Ritter get together to talk about the current state of education and student lending. Today's marketplace is interwoven with the political landscape, so Lance weighs in on how today's news headlines impact his business, CURevl. IN THIS EPISODE:[3:02] Lance describes how he became involved in working with credit unions and weathering the storm we faced in 2018 and, subsequently, Covid[10:26] Lance explains how he derived the name for his QSO[15:30] Discussion on lack of planning for college education[19:55] Student lending programs taking a beating in the media[25:33] Confusion surrounding forgiveness of a federal versus private loan[28:22] Lane describes how his marketing team provides financial aid offices and college fairs with information regarding the credit union available to make loans KEY TAKEAWAYS: Financial planning requires two things. Make a plan and then plan for the disasterEducational finance planning can be accomplished through your credit unionStudent loan forgiveness does not apply to private loansRESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInLance Teinert - EmailBIOGRAPHY: Lance Teinert celebrates a career of over 30 years in Education Finance, Financial Technology and Capital Markets by approaching life and business from an entrepreneurial perspective. Establishing and maintaining an ideal work-life balance is easy when you enjoy life both inside and outside of work.Lance is currently the CEO of CURevl, a CUSO that is dedicated to connecting families with credit unions through education finance. Our unique approach to the business intertwines full service, capital markets support and software as a service, enabling credit unions to meet the needs of their members by partnering with experts that get the job done efficiently and effectively.

Alan Ropes and Mark Ritter discuss information security, an essential topic for our listeners. Mark admits he is not a detail guy by nature, but fortunately, VyFi is a Credit Union Service Organization, and they do a great job keeping members' information private. Tune in for valuable information on keeping your data secure.IN THIS EPISODE:[2:06] Alan shares the history of VyFi and how they partner with credit unions[6:58] Alan describes what is involved in protecting members' information[12:14] Alan advises what a credit union should demand from third-party operators to safeguard data[15:41] Discussion of how data breaches can occur, and Alan gives examples[20:26] Discussion on how to determine the risk a credit union should take, and Alan explains how his job is to help a credit union and not be an adversary[26:56] Alan explains what you should do immediately if you have a data breachKEY TAKEAWAYS: Information security comes in many forms. VyFi dives deep into where you store your data, that you have the controls in place, are practicing them, and that they workGood firewalls, perimeter security and passwords are critical. Employees must also follow the rules, and the right policies and procedures must be in place. If there is a breach, handle it immediatelyVyFi operates as the pre-exam before the NCUA gets involvedRESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInAlan Ropes - EmailVyFi - WebsiteBIOGRAPHY: Alan Ropes is currently the CEO of VyFi, LLC. VYFI is a Credit Union Service Organization (CUSO) with 100% ownership by Florida-based Launch Credit Union. We work to enable Credit Unions to meet their NCUA and state regulatory mandates in Information Security, Governance and Compliance.

MBFS and Miri have had an amazing journey together, and I'm thrilled to chat with her today. Tune in as she shares her extensive expertise in marketing and brand development. Miri also offers a unique take on AI and social media platforms. I hope you enjoy this episode of Credit Union Conversations.IN THIS EPISODE:[2:22] Miri describes how Cowe Communications has evolved over the past nine years[5:18] How do you tell if you are selecting the correct marketing firm to assist you in business, and what questions to ask[10:01] How AI will be a game changer in the industry[16:06] Miri advises when non-creatives throw their personal preferences on overall business strategies without knowing what media their target audience consumes[20:09] Mark asks what media that was effective 10 to 15 years ago isn't working and the benefit of the LinkedIn platform if done properly[31:15] Discussion about TikTokKEY TAKEAWAYS: If someone solicits your business, ask them about their experience in your industryA marketing firm's goals should align with your goals and vision; if they haven't asked about your goals, this is not the company for youAI is an excellent tool for some applications; however, it lacks the personal relationship aspect for long-term ventures. It works well for suggesting ideas, but it takes a human to craft the best productRESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInMiri Rossitto - LinkedInMiri Rossitto - EmailCowe - WebsiteBIOGRAPHY:Miri Rossitto is the current CEO of Cowe Communications, a business and brand development firm specializing in strategic communications. Headquartered in Calabasas, California, Cowe's dynamic in-house team partners with companies and organizations of all sizes to help make them more efficient, wildly memorable, and significantly successful.

What are your borrowers thinking? What do they want to make you their preferred lender? Brandon Cobb joins Mark today to talk about what it is like to be a borrower and what credit unions can do to make real estate investors long-term and happy members. IN THIS EPISODE:[2:26] Brandon shares his professional background, taking him to HBG Capital[7:27] Brandon gives his impression of what he thought a credit union was before he spoke to Mark[11:31] Interest rates have affected the real estate market, particularly with commercial property [15:29] Brandon speaks about the Nashville market[17:36] The cost of goods has stabilized somewhat over what it was three years ago; however, the situation with cargo ships has affected the arrival of goods[20:19] Brandon talks about the supply and demand for entry-level properties, and he suggests following the money[27:30] Brandon states what a suitable lender looks like to him[31:56] How to contact BrandonKEY TAKEAWAYS: Many people believe that you have to be a member of a union to use the services of a credit union. That is untrue.Commercial property has decreased in value because the costs of upkeep and payment are higher. Many commercial properties are not occupied.When a market is affected negatively, it presents an opportunity to buy low.RESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInHBG Capital WebsiteBIOGRAPHY: Brandon Cobb is the CEO and founder of HBG Capital in Nashville, TN. HBG Capital is a vertically integrated real estate investment firm providing investors superior risk-adjusted returns built to be transparent for the investor and designed to be insulated against market volatility, secured by entry-level single-family residential real estate in Middle TN & value-add Class B & C multifamily in the southeast.

What has changed since MBFS started working with Weidenhammer? Basically everything. Jody and Mark make sense of the coming AI revolution and what we should be worried about these days with security.IN THIS EPISODE:[2:00] Jody shares his background and professional career path[6:06] Jody explains how Weidenhammer is different than other tech firms and the evolution of AI[11:46] Discussion of the limitations and accuracy of Chat GPT and whether systems like this will remain free to the user[19:10] Good uses of AI, security, and what causes security breaches[26:28] How working from home has impacted the security world[28:22] What does Jody see happening around AI in the next five yearsKEY TAKEAWAYS: Although the general public believes that AI and systems like Chat GPT are new creations, they have been running in the background for a long time.AI is an extremely expensive process, much more than a typical search engine, and companies will need to devise a way to recover that activity. Machine learning will make jobs more manageable in the future because it will absorb the mundane aspects of the job, giving more time for creative thinking. RESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInWeidenhammer WebsiteJody Pillard LinkedInBIOGRAPHY:Jody Pillard is the Chief Revenue Officer at Weidenhammer, a longtime MBFS partner. He likes to say that he helps IT folks have less stress, more time, and more recognition for their hard work.

Mark and Bob talk about the evolution of credit unions' relationship with auto dealers and indirect financing, what the pandemic was like, and what it is like to finance vehicles these days.IN THIS EPISODE:[0:51] Mark describes why he needed to purchase his first pickup truck[2:24] Bob shares his professional background [4:08] Discussion about liquidity and interest rates[8:13] Bob discusses lending during the pandemic and how the value of automobiles has risen[11:18] The value of a Tesla and the impact of the battery cost and which are the better-selling vehicles[17:47] Discussion of the inventory of new vehicles and how online shopping has impacted the credit union business in terms of providing loans[24:05] Bob talks about the due diligence needed to work with a dealershipKEY TAKEAWAYS: During the pandemic, parts were difficult to source for new cars, and dealers had low inventory. They realized that they didn't need to carry such a large inventory because people would wait for a car they had ordered.The impact of purchasing batteries for cars like a Tesla hasn't been felt yet. It will be interesting to see whether a vehicle with a new battery will have a higher value.Online shopping has impacted the car lending business. The finance companies show up on a drop-down menu, and credit unions won't have a significant space to be seen.RESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInKeystone Lending Alliance WebsiteBIOGRAPHY: Bob BrantFor the past 15+ years, Bob Brant has been the CEO of Keystone Lending Alliance. KLA is a western PA-based CUSO specializing in facilitating auto financing for members throughout the northeast United States

Nolan Bradbury joins Mark today to talk about the relationship between lender, accountant, and member. Also, what is the best way to manage debt load? What does the conversation look like between accountant and business owner when they talk about lenders? Nolan and Mark look under the covers to talk about what lenders should know.IN THIS EPISODE:[1:52] Nolan shares his professional journey and how his firm is dedicated to helping small business owners succeed [5:16] Nolan gives his perspective on carrying debt as a small business owner, and he discusses lines of credits[9:55] Nolan advises what people should be looking for in a financial institution based on their needs and the support they are seeking[15:19] Discussion of the requirements and covenants of the loan documents and why they should be read and understood[19:41] Nolan describes his favorite clients[23:15] Nolan outlines what he wishes lenders knew and would do differently [27:42] Nolan shares his contact informationKEY TAKEAWAYS: Carrying debt as a business owner is a cost-effective way to scale a business without giving up control or equity. Being smart about debt is critical.Getting a line of credit is easier when you don't need it, but be wise in how you use it. Not all lenders are the same. Some predatory lenders will take advantage of the relationship or the small business owner.RESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInBradfield Co. - WebsiteNolan Bradbury - LinkedInBIOGRAPHY: Nolan BradburyNolan Bradbury is the owner of Bradfield Accounting in Washington state. He consults with business owners nationwide on how to maximize their business results and manage their finances.

What's the value? Noelle McDonald can help. The commercial real estate market is upside down today. Mark and Noelle talk about the current state of the appraisal marketplace and what lenders should be on the lookout for now and in the future.IN THIS EPISODE:[1:16] Noelle shares her background and describes what Lender Consulting Services does[6:49] The appraisal industry is aging people out, and new people are not coming into the field because becoming an appraiser is challenging because of the requirements[12:42] Noelle discusses aspects of the process that people are not aware of[16:37] Noelle talks about how she deals with the emotions of the appraisal and how appraisers are coping with the uncertain landscape of commercial appraisals [23:10] Noelle is wary of new technology, where you can have valuations done cheaper, faster, and quicker on the fly.KEY TAKEAWAYS: Often, there needs to be more communication between the appraiser and the entity that will process the loan. People need to understand that once the appraisal is done, it is done.Appraisers are being aged out, and the training involved in becoming an appraiser is vigorous and much more complicated than in the past. Appraising commercial property has changed since COVID. There are so many empty office spaces that values are bound to be affected. Appraisers are catching up on the data they need to do their job. Interest rates have also changed the landscape. It all affects the appraisal. RESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInLender Services WebsiteNoelle McDonald LinkedInBIOGRAPHY: Noelle McDonaldNoelle McDonald is the VP of Valuation Services for Lender Consulting Services. With over twenty years of experience, she leads one of the leading lender support companies in the country through a variety of commercial appraisal requests.

Mark Treichel and Mark Ritter talk about their respective backgrounds and what it is like on both sides of the examination process. They also talk about the current state of the NCUA and staffing levels. When should you take on examiners and when to back off? Mark and Mark talk about different strategies.IN THIS EPISODE:[0:52] Mark Ritter introduces his guest and the topic of NCUA Examinations[1:55] Mark Treichel shares his background story[5:35] Mark Ritter shares his background story[7:50] Mark Treichel discusses how the industry has changed over 34 years[9:24] Discussion of the NCUA board meeting on YouTube and what the board has planned for the future[14:04] Discussion of liquidity[16:52] Mark Treichel suggests that credit unions keep their examiner informed and build a working relationship [19:50] Telltale signs of a flawed and incomplete loan paper documentation and discussion of small credit unionsKEY TAKEAWAYS: Thirty-four years ago, who would have thought that your only choice was to go to a credit union or the ATM? Members can now apply for a loan without them physically entering a branch. There are fewer credit unions than there were back then, and there is an extensive use of third parties.Mark Treichel predicts that Chairman Harper will bring forth a rule that there will be a regulation on succession planning, which would only impact federal charters.An Examiner can tell if the credit union has done their job by looking at the loan papers. They also can learn by reviewing the documents of loans that were denied and ones that were approved. RESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInMark Treichel WebsiteMark Treichel LinkedinMark Treichel Phone - 407-493-1180BIOGRAPHY: Mark TreichelAfter a 33-year career at NCUA, Mark Treichel served as Executive Director, Regional Director, Director of Special Actions, Supervisory Examiner, and Principal Examiner. He knows how NCUA thinks, why they think it, and the examination process inside and out. Today, he runs a consultancy practice where he assists credit unions with the examination process.

Mark and Jeff discuss Jeff's background and the mission of River City FCU. Jeff explains the value of CDFI status that credit unions can access. Jeff and Mark have a lengthy discussion about the value of credit unions of all sizes and the purpose credit unions have in today's economy, along with ideas on how to maintain the number of credit unions in the United States.IN THIS EPISODE:[0:48] Mark describes his business goals[2:53] Jeff shares his background and how his credit union serves the Hispanic community of San Antonio, TX[7:40] Jeff discusses the advantages of serving the Hispanic community[11:24] Members need to understand that a credit union that is insured by the NUCA is safe, and their money is protected [12:59] Discussion on small credit unions and the importance they have in the marketplace for minority neighborhoods and how some larger credit unions have left the minority communities behind[20:55] Mark and Jeff discuss succession planning when a CEO retires[25:01] Jeff describes what it is like regarding companies approaching him who want to merge and what he would do to grow the number of small credit unionsKEY TAKEAWAYS: River City FCU serves the Hispanic community in San Antonio, TX in many ways. One important service is to provide lending, which helps a person establish themselves in the United States and is also better for the economy because they don't require government assistance.Credit unions need to adapt to the ethnic communities in their area by understanding the needs and goals of the people and offering services to meet those goals. One size does not fit all. If a large credit union acquires a small credit union and closes its doors, it damages the entire premise of a credit union helping the community they are in. RESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInRiver City Credit Union WebsiteJeff Ivey's Phone Number: 210-244-2545BIOGRAPHY: Jeff Ivey is the current CEO of River City FCU in San Antonio, TX. River City is a CDFI-designated institution serving consumers since 1936. Jeff has also been a board member of Inclusive. Previous to his current position, Jeff helped credit unions with strategic planning and CDFI opportunities.

Craig and Mark talk about the old days of commercial lending in credit unions and how the dynamics between CUSO and CU's have changed over the years. They also review the best practices in utilizing third parties to assist your lending operations. IN THIS EPISODE:[0:24] Mark discusses what MBFS does and how it can assist credit unions.[2:17] Craig describes his background and professional history. [3:28] Discussion of the history of CUSOs and how they have developed over the years.[6:04] Credit Unions require specialized guidance across various domains, relying on individuals who excel in specific areas rather than expecting one person to have expertise in all areas. [8:20] Benefits of having relationship managers and problems that arise when you don't. [11:13] The advantage of third-party oversight who goes in and out when needed is that they can assist a credit union better and faster in reaching goals.[13:57] Craig shares the history of guiding credit unions and members through difficult economic years to the advantage of both parties and how annual reviews can prevent issues. [19:36] How a CUSO builds scale and neutrality, why examining policies once in a while is helpful and reaching out for non-judgmental help is wise.KEY TAKEAWAYS: CUSOs are specialized and have experts in many different areas that can speak specifically to originations, credit, closing of loans, portfolio management, SBA loans, etc., to ensure credit union partners receive the expertise necessary for the specific portion of their credit union that needs the assistance.It's hard to build relationships, but if you have worked with a borrower frequently, you know they will bring you a quality loan and have the financial wherewithal to back up their requests. If it's an SBA loan, you know they understand the intricacies of the paperwork involved. Don't be embarrassed if you need some temporary help. Loans can go sideways. There is help available, and it is nonjudgmental. RESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInBIOGRAPHY: Craig Page is the Chief Revenue Officer at MBFS. He joined MBFS after a long career of successfully leading CUSOs and as an executive in commercial real estate financing.

Where has the time gone? Mark and Jeff look back at what they said a year ago to see how accurate their predictions were. They also take a look at how 2023 played out, both good and bad and what CUs should be doing to plan for the future.IN THIS EPISODE:[1:40] Jeff shares his duties and responsibilities at MBFS. [2:00] Mark and Jeff discuss how things shifted in 2023. The hope is things will stabilize in 2024, but most likely will not improve. [5:55] Discussion regarding credit quality and dealing with delinquency rising into 2024 if credit unions don't take a proactive approach. [11:06] SBA loans will benefit credit unions. Credit unions should become familiar with these government-backed loans even though they are somewhat more time-consuming. [13:53] Discussion about how a credit union deals with higher interest rates impacting profitability. [17:01] What does the future hold in 2024, and why planning and communication are essential. KEY TAKEAWAYS: Planning for the possible ups and downs in the foreseeable future is critical. Communication with staff, members, and clients is essential to the planning for 2024. Good credit quality is necessary to maintain successful lending. However,  long before it becomes an issue that is difficult to deal with, delinquency is part of the process and should be addressed. Again, communication is key.Loans enjoying a low interest rate will be coming due, and refinancing those loans will create a hardship for the borrower. Higher interest rates have already impacted the housing market.RESOURCE LINKSMark Ritter WebsiteMark Ritter LinkedInBIOGRAPHY: Jeff Lyons is the COO of MBFS. In his role, he currently oversees the credit, loan originations, and SBA loan functions. Jeff has a long career in banking and a small business owner. 

How do we REALLY do as an industry? In today's solo episode, Mark looks at the principles of the credit union industry and grades each area to see where we excel and where we can improve.IN THIS EPISODE:[01:19] Mark will evaluate how credit unions are doing. [03:43] Voluntary and open membership gets an A+. [06:18] Democratic member control gets a D. [09:37] Member economic participation gets an A. [12:52] Autonomy and independence get a B. [16:14] Education, training, and information get an A+. [18:09] Cooperation among cooperatives get B+. [21:40] Concern for the community gets an Incomplete. [24:34] Diversity, equity and inclusion get a B-.KEY TAKEAWAYS: In the past, you had to be an employee of a particular business to join their credit union. Today there is open membership which allows for competition and better options.Outside influences influence a credit union. Previously, a car loan was obtained from your local credit union. Now the dealership does the loan.The cooperation between credit unions and other organizations like MBFS is a positive for the industry.RESOURCE LINKSMark Ritter Website

After talking about John's background in the mortgage business, Mark and John talk about the boom times over the last few years and low-interest cycles. John talks about the current regulatory climate today and what he expects the mortgage market to look like over the next few years.IN THIS EPISODE:[2:22] John describes how First Heritage operates and his professional background[5:52] John explains how he evaluates and reacts to the ups and downs of interest rates[9:19] What makes a credit union successful in the mortgage business as opposed to those that are not[12:45] John discusses government loans and how interest rates during the pandemic have affected the housing market[17:18] John talks about the reasons that apartment and condo construction is up, the shortage of new homes and the amount of down payment required to purchase[21:54] John discusses retaining mortgages, selling the mortgages, and liquidity solutions overall for credit unions [25:22] John gives his short and long-term mortgage predictions KEY TAKEAWAYS: First Heritage provides services and skill sets unavailable within most credit unions. There has been a housing recession since June of 2022. Home prices increased in value at a steep rate, and mortgage rates followed, resulting in a problem with the housing cycle and a lack of inventory. The average down payment required to purchase a home is $60,000.FHA, VA, and USDA can assist with lower down payments, making it possible for first-time home buyers to purchase. RESOURCE LINKS:Mark Ritter WebsiteMBFS - WebsiteMark Ritter - LinkedInFirst Heritage - WebsiteJohn Giordano - EmailBIOGRAPHY:John Giordano is a longtime mortgage industry veteran and is currently the CEO of First Heritage Mortgage Services. First Heritage assists credit unions nationwide with all things residential mortgages.

Joining Mark today is one of his favorite people in the credit union space along with being the most inspirational. Alisha Martin's journey is one of resilience and perseverance. Today, Alisha runs the business development efforts at Suncoast and Mark and Alisha talk about what works and what doesn't in today's marketplace to acquire new members.IN THIS EPISODE:[01:54] Alisha introduces herself and shares her background and work story. [5:19] Alisha explains what Suncoast does and how they are customer-friendly.[9:09] Alisha describes her role as Vice President of Development for Suncoast Credit Union. [13:00] Mark asks Alisha to share a personal story that might have been devastating; however, Alisha has determination and overcomes. [22:46] Alisha discusses the importance of aligning yourself with individuals you want to work with. [28:09] Alisha shares her approach to her position as Vice President of Development for Suncoast Credit Union.[32:57] Alisha admits that she is shy and tells how she finds balance in her position. KEY TAKEAWAYS: Suncoast is the largest credit union in Florida, having just crossed 14.4 billion in deposits. Suncoast Credit Union is customer-friendly and tries to do whatever it takes to work with its members.When life takes you in a direction you never saw coming and wouldn't wish on anyone, attitude, determination and inner strength can turn it around for the better.RESOURCE LINKS:Mark Ritter WebsiteMBFS - WebsiteMark Ritter - LinkedInAlisha Martin - WebsiteAlisha Martin - EmailBIOGRAPHY: Alisha has lived in Lakeland for the last 20 years. 15 of those years have been focused on banking and commercial real estate. With degrees in Business Administration, Business Management, and International Business, she has originated, syndicated, and serviced commercial loans with credit unions nationwide. As the Vice President of Development for Suncoast Credit Union, she is focused on growth opportunities and relationships in the surrounding areas in Central Florida. 

Deposits. Everyone is looking for them, and no one seems to have the magic bullet---except John Ballantyne. Mark and John discuss the benefits of a commercial deposit focus and strategies to succeed in this line of business. IN THIS EPISODE:[0:44] Mark explains what today's episode is about. [2:12] John discusses his background and how he became CEO of Tru Treasury, and he talks about being a Blackhawk helicopter aviator. [4:43] John goes into the details of starting Tru Treasury during Covid.  [8:59] Mark and John discuss why knowing which core system is used is important. [13:58] John and Mark reflect on how in 1998, the rules changed to permit credit unions to engage with businesses and what makes a credit union successful in meeting the needs of a business member. [20:17] John says credit unions are about people helping people and how if you have the right services, the deposits will follow.[27:03] John advises credit union executives on the best opportunities over the next few years and taking advantage of low-hanging fruit.KEY TAKEAWAYS: [4:51] John describes how he had time to figure out the treasury management services and be a third-party provider to credit unions.[9:16] John discusses why you need to know the core system the credit union is using.[15:29] John describes what makes a credit union successful when serving the complete business member.RESOURCE LINKS:Mark Ritter WebsiteMBFS - WebsiteMark Ritter - LinkedInTru Treasury - WebsiteJohn Ballantyne - Tru Treasury LinkedInBIOGRAPHY: John Ballantyne has been the CEO of Tru Treasury since its founding. After a distinguished career in the US Army, John spent several years working in the treasury management area for a large bank and owning his own financial services firm.

If you like college football talk sprinkled in with your credit union talk, this is the episode for you. Mark and Andy catch up on Penn State football before a deep dive into how LoanStar helps credit unions and the current lending/regulatory environment.IN THIS EPISODE:[02:32] Andrew shares his background before starting Lone Star Technologies. [5:18] Andrew explains what Lone Star does. [8:14] Mark and Andrew talk about Penn State football. [10:26] Andrew discusses what surprised him about working with credit unions. [13:39] Andrew explains how he flips around the conversation with a credit union to include what kind of portfolio they are looking for. [19:53] Andrew discusses the diversity and expertise his firm brings to the table. [23:45] Andrew talks about his business during the pandemic. [28:29] Andrew predicts opportunities that could evolve in the future. KEY TAKEAWAYS: [6:14] Lone Star Technologies partners with credit unions to provide a transparent product everyone understands. [16:17] Andrew describes what sets people in the merchant lending business apart to make them more successful than some peers.[19:53] Andrew discusses the diversity and expertise Lone Star Technologies brings to the tableRESOURCE LINKS:Mark Ritter WebsiteMBFS - WebsiteMark Ritter - LinkedInLone Star Technologies - WebsiteAndrew Turner - WebsiteBIOGRAPHY: Andy Turner has been the CEO of LoanStar Technologies for the past seven years. LoanStar works with credit unions and small businesses to bring merchant financing to lenders nationwide. Prior to founding LoanStar, Andy was an executive for financial services software companies.

Your portfolio is clean now, and "everyone is paying." Good loans sometimes go bad, and it will undoubtedly happen to your portfolio at some point. Craig and Mark talk about the history lessons of the Great Recession and how to tackle your portfolio in the future when bumps in the road happen.IN THIS EPISODE:[02:58] Craig shares his background and history working in the financial industry.[04:57] Craig reflects on the recession when they had many coastal properties and being aware of the warning signs.[07:03] During the recession, there was a lack of awareness that the market wouldn't bounce back in a few months.[11:02] Many people feel that real estate only goes up, and Craig also points out that commercial property still has many vacancies.[15:12] Craig shares his feelings on commercial real estate, and his biggest concern is office space.[17:47] The red flags of not paying property taxes and deferred maintenance.[21:07] Craig explains how he would approach delinquency with a commercial property.KEY TAKEAWAYS: During the recession, borrowers were unwilling to admit they were having problems. When visiting with a borrower about a delinquency, make sure you know the laws governing the situation.Lenders must be proactive in annual reviews to ensure all is well with their properties and borrowers.Three red flags that a property owner may be in trouble are them not paying their property taxes, property insurance and deferred maintenance.RESOURCE LINKS:Mark Ritter WebsiteMBFS - WebsiteMark Ritter - LinkedInCraig Page - LinkedInBIOGRAPHY: Craig Page is the Chief Revenue Officer at MBFS. After a long career as the CEO of two business lending CUSOs, Craig joined MBFS to lead the national loan originations at the CUSO, along with helping guide the strategic direction of the organization.

Let's talk about some of the great things credit unions do every day! The CrossState Foundation executes the playbook on many of the wonderful initiatives for our industry. Sue and Mark talk about what goes on behind the scenes carrying out this crucial mission of credit unions.IN THIS EPISODE:[02:46] Sue shares her journey to her current position at the CrossState Foundation[05:27] Sue reflects on her surprise when starting her job. She learned how credit unions nationwide work together[08:04] Sue explains how her foundation focuses on promoting financial credit union certification, reality fairs and financial wellness workshops[10:49] Sue talks about the National Credit Union Foundation hosting what is called prom night [12:24] Sue shares information regarding CU Kind Day[15:34] Younger adults are helping propel focus on serving the community [17:43] Sue explains how Financial Reality Fairs work[23:36] Sue gives an example of a teenager who had been to a Reality Fair[27:06] Sue encourages listeners to participate in programs that promote education and their communitiesKEY TAKEAWAYS: Many people do not know how Credit Unions are committed to helping people in the community Financial Reality Fairs are beneficial to high schoolers by assisting them to plan and stay on a budget,The National Credit Union Foundation promotes prom night, providing gowns for girls who otherwise could not afford them.RESOURCE LINKS:Mark Ritter WebsiteCrossStates - WebsiteBIOGRAPHY: Sue Ward-Diorio is the current Executive director of the CrossState Foundation. CrossState Credit Union Association is the trade association for all Pennsylvania and New Jersey credit unions. Sue joined the credit union industry in 2022 after a long career in non-profits in central PA.

Joe and Mark talk about the state of the industry and what we see on the horizon. Joe also gives a profile of his strategy for investing in CUSOs and what he looks for in a CUSO investment.IN THIS EPISODE:[01:51] Joe shares his background and journey to where he is today. [04:01] Mark and Joe agree that it is a disservice to an employee to specialize in an area as opposed to learning the entire strategy of a Credit Union. [06:30] Joe says being flexible in mindset and where you live expands your opportunities. [09:20] Joe discusses CUSOs and why he sees it as a growth strategy. [14:25] Joe explains why the business units and other interdepartmental teams are so important.[19:34] Joe shares the importance of constant learning and integrity and how he would advise someone who desires to be a CEO.[24:29] Joe talks about his experience moving to Launch and discusses liquidity in the industry and how to rectify that problem. [31:33] Joe makes guesses on interest rates; he discusses the shrinking labor force and states that succession planning is critical for the organization. KEY TAKEAWAYS: CuSOs allow you to compete with larger competitors and are a way to scale business.A CEO must communicate to their team that when they propose an idea, it doesn't automatically require execution; instead, it's something they wish to deliberate with the team.Understanding the culture of a new office you transition to is essential. Inquire about the reasons behind their established practices rather than making immediate changes because they differ from your previous approach. RESOURCE LINKS:Mark Ritter WebsiteJoe Mirachi - LinkedInBIOGRAPHY: Joe Mirachi is a credit union veteran who has served as the CEO of Launch CU in Florida for the last eleven years. Before Launch, Joe served as the CEO and held other executive roles at credit unions in New Mexico. Launch CU, and Joe is an industry leader in investing and assisting in CUSOs.

Mark & Rick travel down a compliance journey today to talk about best practices in compliance and some of the pitfalls of not keeping on top of it at your organization.  Connect with Rick and his team at https://compliance4creditunions.com/IN THIS EPISODE:[02:47] Rick shares his background and current position at Compliance 4 Credit Unions.[07:56] Rick discusses what has surprised him as the credit union space was developing. [10:56] Expertise in the field, as opposed to being a generalist, has made a difference in the operation of credit unions.[12:55] An explanation of the new NCUA rule. [22:17] Rick talks about the difference between having expensive staff and hiring outside help. [26:13] What hot buttons does Rick see coming, and what items need monitoring? [30:43] Rick refers back to his best crazy stories. [33:55] Rick invites listeners to check out the references for Compliance 4 Credit Unions and to feel free to contact him. KEY TAKEAWAYS: The NCUA rule will make significant changes, resulting in a better working atmosphere at the credit union site.Make sure you remove private information when sharing document templates.The new NCUA rule will assist credit unions in dealing with difficult members. RESOURCE LINKS:Mark Ritter WebsiteCompliance 4 Credit Unions WebsiteRicks EmailBIOGRAPHY: Rick Wargo is the Chief Operating Officer of Compliance 4 Credit Unions, a collaborative compliance consulting CUSO.  Rick has nearly 30 years of experience working with financial institutions, chiefly credit unions.  He started his career with the Pennsylvania Department of Banking and then devoted 24 years to the credit union movement, serving in compliance and advocacy roles for the Pennsylvania Credit Union Association.  Rick also gained valuable transactional experience as an Assistant Counsel for PHEAA, a student loan servicing organization.Rick re-entered the credit union space in 2017, serving as an independent consultant.  That journey spawned the creation of Compliance 4 Credit Unions in 2019.  Rick continues to build the CUSO's infrastructure while advancing the compliance interests of participating credit unions.

It's time to take a walk down memory lane and review the wackiest and wildest loan program ever: the Paycheck Protection Program. Omar Shute of DFTC and Jeff Lyons of MBFS joined us for a topic that we couldn't fit into just one episode.IN THIS EPISODE:[00:31] Mark gives an overview of Part One.[01:35] The expectation of how long the PPP loans would last. [03:36] Jeff describes the second round of PPP loans, and Omar shares his view of Part Two of PPP loans and how technology assisted the process. [11:22] Jeff and Mark talk about the eligibility for the second round of PPP loans. [18:23] Jeff reflects on how business owners admittedly stated they didn't need the money, but it was free. [20:37] Omar suggests which industries should have received the money, and Jeff talks about the forgiveness process. [26:50] What worked well on the PPP and what didn't work. KEY TAKEAWAYS: The PPP Loan Round One wasted a lot of taxpayer dollars.By the time Round Two of PPP Loans began, institutions could make more money because they had worked out the kinks they experienced in Round One.The PPP loans are responsible for the inflation we have today.RESOURCE LINKS:Mark Ritter WebsiteDFTC Inc. WebsiteBIOGRAPHY: Omar Shute is the Senior Vice President of Commercial Services at Development Finance Training and Consulting Inc. (DFTC). In this role, he oversees commercial underwriting and participates in all the related suites of services offered by DFTC. Omar has 20 years of commercial lending experience, and his career background encompasses commercial loan origination, relationship management, commercial loan underwriting, credit administration, commercial portfolio management, policy generation, and senior leadership experience, including working with boards of directors.

It's time to take a walk down memory lane and review the wackiest and wildest loan program ever: the Paycheck Protection Program. Omar Shute of DFTC and Jeff Lyons of MBFS joined us for a topic that we couldn't fit into just one episode.IN THIS EPISODE:[02:31] Jeff and Omar introduce themselves and share their responsibilities at their respective firms. [04:24] Jeff's view of the history of PPP loans and Omar reflects on the beginning phase of PPP loans. [08:12] Mark remembers the chaos, Jeff shares his perspective and Omar talks about rules changing three times a day. [13:34] Mark and Jeff speak about the bad actors, fraud and loan farms. [19:31] Omar reflects on how the credit union prevented fraud. [21:33] Mark tells about the largest fraud case. [26:07] Jeff and Omar discuss the systems in place to make the program work. KEY TAKEAWAYS: The PPP loan program was vulnerable from the start because it was rushed, and there were no clear guidelines.The government was just asking for fraud because the regulations were so loose, and unfortunately, FinTech wasn't doing its job.The credit unions stepped up and did what was necessary to care for customers while protecting the taxpayer.RESOURCE LINKSMark Ritter WebsiteBIOGRAPHY: Omar Shute is the Senior Vice President of Commercial Services at Development Finance Training and Consulting Inc. (DFTC). In this role, he oversees commercial underwriting and participates on all the related suite of services offered by DFTC. Omar has 20 years of commercial lending experience and his career background encompasses commercial loan origination, relationship management, commercial loan underwriting, credit administration, commercial portfolio management, policy generation, and senior leadership experience including working with boards of directors.

Sean and Mark hit up a variety of topics to talk about the state of the mortgage industry today and how lenders can keep up with all the necessary compliance. Also, why have credit unions gotten so complicated? Mark and Sean take a deep dive into credit reporting and where it was, and where it is going.IN THIS EPISODE:[01:44] Sean describes his role at United One, the areas of service United One provides, and the current state of the mortgage market. [12:05] How are appraisers dealing with values in the marketplace, how does an automated valuation tool come into play, and why is it difficult to become an appraiser?[21:39] How the credit report has changed over the years. [26:02] Explaining the difference between Credit Karma and other reporting agencies and Sean's opinion of a non-traditional credit scoring system. [30:54] Sean explains credit leads versus retention triggers. [38:25] New changes coming in the appraisal regulation process. KEY TAKEAWAYS: It is a tough market for lenders in the residential sales market. The problem is they need more inventory, and buyers need to be able to find an affordable house and win the bid. Because home sales are scarce, lenders must work hard, align themselves with the right partners and real estate agents and continue growing their base. Many people may not sell their homes for a long time because of the low-interest rate they have.RESOURCE LINKSMark Ritter WebsiteUnited One - WebsiteSean's Phone Number: 570-706-2830Sean's Email: shiggins@unitedone.comBIOGRAPHY: Sean Higgins is the longtime executive of United One Resources in Wilkes-Barre, PA and the current Executive Vice President of the organization. For over 100 years, United One has supported the lending and real estate communities with a variety of solutions and services, including credit reports, appraisal management services, property reports, flood zone determinations, fraud reports, tax monitoring, title insurance and settlement services. United One provides a competitive advantage for lenders to move quickly from approval to close with confidence.

We all say we want to help small businesses but sometimes struggle to help growing businesses meet their cash flow demands. Mark and Pat talk about the challenges of wrapping your head around the credit culture, risk, and management of properly funding small business owners at the credit union.IN THIS EPISODE:[02:27] Pat shares his banking and credit union background. [04:08] How were people trained in the '80s to learn commercial lending from the ground up? [07:44] How did Lendovative get started, and what is the vision? [10:56] What are the statistics that support opportunities for credit unions to service small businesses? [17:07] Pat discusses the funding of small businesses and finding the middle ground of overseeing lines of credit and how meaningful the relationship between the borrower and the lender is. [25:21] Lendovative will  partner with MBFS to provide new technology to assist credit unions in their day-to-day practices. KEY TAKEAWAYS: Lendovative is a company that puts lenders and borrowers on the same page, and they can increase transparency and communication.The growth in small businesses from 2019 to today went from 31 million to 33 million.The goal of a credit union should be to have a complete relationship with a client. That is achieved by having their checking, savings, and loans all serviced by the credit union.RESOURCE LINKSMark Ritter WebsiteLendovative WebsiteBIOGRAPHY: Patrick TrueAfter a long career helping financial institutions at Jack Henry, Patrick True has transferred to become the President of Lendovative. Lendovative's mission is to support community-centered financial institutions in the United States by empowering them to enhance business-client relationships while reducing credit risk.