In Your Best Interest: An ALM First Podcast

Merger integration represents the most challenging phase for credit unions pursuing strategic partnerships, requiring careful attention to people, processes, systems, and communication strategies to ensure success.• Credit union mergers require extensive planning beyond the initial agreement • Integration typically takes at least six months, even with similar core systems• Cultural integration proves more challenging than technical integration• Leaders often struggle to implement "best of both worlds" processes during transition• Communication needs exceed expectations—consistent, transparent messaging is essential• Members may complain about changes that didn't actually occur (resistance to change)• Contact centers face significant challenges during conversion periods• Project planning with clear phases and milestones is critical to success• Employee wellbeing must be prioritized to prevent burnout during integration• Contract management, especially for core processors, requires careful attention• Documenting the journey through photos helps preserve cultural continuityIf you're considering a merger or currently navigating integration challenges, visit our website for more resources, including our Education Hub, Resource Center, and upcoming webinars. Stay safe, stay healthy, and thank you for listening to In Your Best Interest, an ALM First podcast.

Credit unions face a massive leadership transition as 40% of CEOs retire by 2030, yet only 54% of boards have succession plans in place, creating both challenges and opportunities for reimagining executive leadership.• Wave of retirements includes not just CEOs but also C-suite leaders and board members creating multi-level leadership turnover• Internal CEO candidates often lose to external ones because they haven't proactively developed strategic leadership skills• Responsibility for succession planning falls on boards, current CEOs, and candidates—but ultimately aspiring CEOs must take ownership of their development• Today's boards seek transformative leaders with clear vision rather than just operational excellence• Successful candidates demonstrate emotional intelligence, cross-enterprise experience, and strategic thinking• Assessments help quantify leadership potential while supporting successful onboarding• Boards should establish clear expectations with current CEOs about transition timelines• Aspiring CEO candidates should seek mentors, request rigorous feedback, and continuously learn• The best boards prepare themselves to work effectively with a new generation of credit union leadersIf you're a board member, start by examining your succession planning quarterly. If you're an aspiring CEO, don't wait for others to develop you—seek teachers, mentors, and challenging experiences to build your leadership capabilities.

In celebration of Black History Month, we explore the AACUC Future Fund, a groundbreaking initiative transforming financial inclusion in the credit union movement. Since 1999, the African American Credit Union Coalition has been a pioneering force in fostering diversity and creating lasting positive impacts across communities. Through its four key pillars—internships and leadership development, small credit union sustainability, international cooperation with African financial cooperatives, and community wealth building—the Future Fund ensures sustainable funding for programs that expand access to financial services and create opportunities for future leaders.This episode features:AACUC's historical role in advancing diversity in credit unionsThe strategic vision behind the Future Fund's launchHow the four pillars drive meaningful change in communitiesInnovative approaches to developing diverse industry leadersStrategies for strengthening small credit unionsInternational partnerships empowering African cooperativesInitiatives for building generational wealthUnderstanding charitable donation accounts as investment vehiclesWays credit unions can participate and drive changeInsights from industry leaders on creating lasting impactJoin us for an inspiring discussion about building pathways to financial inclusion and honoring the legacy of cooperative finance in the Black community.

This episode delves into the current trends and strategic considerations in the credit union merger landscape, highlighting the importance of preparation and adaptability in navigating the evolving M&A environment. The discussion emphasizes the significance of scale, proactive strategies, and understanding regulatory implications for successful future mergers.• Exploring the increasing trend of larger credit union mergers• The importance of geographic diversification in expansions• Understanding regulatory scrutiny and merger approval processes• The necessity for proactive preparation for merger discussions• Examining board dynamics and engagement strategies in mergers• Future projections for merger activity and market consolidation

How can aligning purpose, strategy, and culture propel your organization to new heights? Join us as we chat with Jessica Kriegel, Chief Strategy Officer at Culture Partners, who shares her transformative journey from humble beginnings to the helm of leadership. Jessica reveals her mission to quantify culture through data and the stunning results of her collaboration with Stanford University—organizations that fully align on purpose, strategy, and culture see remarkable revenue growth. Together, we debunk popular myths about corporate culture and discuss practical steps to embed culture into daily actions, creating workplaces that truly win.Ever wondered how to navigate cultural transformation in a global and remote work environment? Drawing from a compelling case study of Redstone Federal Credit Union, Jessica illustrates how consistent cultural practices and leadership alignment can dismantle internal silos and build trust. Discover how evolving cultural strategies can sustain long-term success and drive significant growth, supported by insights from Stanford research. With real-world examples, Jessica outlines how creating consistent experiences and recognizing desired behaviors can lead to extraordinary organizational results.Looking ahead to the future of workplace culture, we explore the challenges and opportunities posed by remote work, pay equity, and shifting generational expectations. Understand why some companies are adamant about returning to the office and the growing impact of social media on corporate transparency. We also discuss potential future scenarios, including significant cultural improvements and labor strikes fueled by workforce frustrations. Alongside this, we highlight the resources available through ALM First for financial education, emphasizing the importance of personalized advice and informed decision-making. Tune in for a comprehensive look at driving results with an aligned culture and the evolving landscape of workplace dynamics.

Ready to unlock the secret to impactful charitable giving within the credit union community? Join us for an enlightening conversation with Renée Sattiewhite from the African American Credit Union Coalition (AACUC) and Jason Haley from ALM First. Together, they reveal the innovative AACUC Charitable Donation Account Fund and how it promises to revolutionize support for vital initiatives. Learn firsthand how this fund is designed to sustain impactful programs like internships and leadership development while providing a flexible and efficient avenue for credit unions to contribute to meaningful causes.Our discussion takes a deep dive into the AACUC's Future Fund and its critical role in the growth and sustainability of small credit unions. Discover how ALM First has crafted a streamlined investment vehicle to facilitate contributions from multiple credit unions, maximizing the impact on the community. We dissect the fund's unique structure and the strategies in place to manage financial risks, ensuring a steady income stream for long-term initiatives. Hear Renée and Jason share their experiences and insights, giving you a personal connection to their mission and the greater credit union movement.In our final segment, we spotlight the newly launched fund aimed at supporting smaller credit unions, backed by substantial investments from industry giants. Understand the process and importance of contributing to this fund, and the critical role it plays in the future of the credit union industry. We wrap up with heartfelt gratitude and optimism, celebrating the dedication and leadership of Renee and Jason in driving this groundbreaking project forward. Tune in to be inspired and informed about the transformative power of credit union charitable giving!

Welcome to this episode of, In Your Best Interest, an ALM First podcast. Have you ever wondered how financial institutions can stay ahead of uncertainties and manage competitive pressures? Join us as Jessica Coulis and Ben Schexnayder reveal the secrets of Enterprise Risk Management (ERM) and its critical role for many institutions. Through personal stories and professional insights, they detail how ERM can break down departmental silos, foster collaboration, and provide a comprehensive view of risks that enhances strategic decision-making. Listen in to understand how a holistic approach to risk management can transform your organization's ability to navigate rapidly changing environments.Unlock best practices for strategic risk management, with a focus on dynamic risk appetite statements and proactive risk metric monitoring. Jessica and Ben discuss how aligning products and services with an organization's risk-taking philosophy ensures new offerings fit within the company's risk appetite. Additionally, get a deep dive into the challenges of deposit sourcing, loan growth, and FinTech integration, all while emphasizing the significance of creating a robust risk culture. Don't miss this opportunity to learn how a strong ERM program can prevent financial surprises and build resilience in today's volatile market.

Discover the transformative world of credit union securitizations with insights from Travis Goodman, a principal at ALM First. Have you ever wondered how the credit union industry navigates the complexities of securitizations? Today, we're diving into the world of securitizations in credit unions with ALM First Principal Travis Goodman. Travis and his team have assisted with more than half of all public industry securitizations, playing a role in 8 of the 13 such transactions that have occurred since June 2017. We'll explore the journey from pioneering issuances to the strategic balancing act between liquidity and profitability. Travis will also provide an insightful commentary of the regulatory landscape that credit unions must navigate to issue asset-backed securities (ABS). You'll learn about the steps required for both federally and state-chartered institutions and the operational shifts needed for success in this space.Additionally, we'll tackle the critical topic of managing financial transaction risks, especially within the credit stack, the importance of mitigating these risks with thorough preparation. Tune in to gain comprehensive insights into how credit unions can effectively manage risks, build lasting investor relationships, and thrive in the evolving world of securitizations.

Get ready to witness banking revolutionized as Jackie and Sonia from Amplify Credit Union unveil their bold stride toward a fee-free future. Discover the power of a financial institution that tosses out the fee playbook, carving a path for others to follow and shifting the landscape for generations to come. They share the remarkable story of Amplify's evolution from an IBM employee-founded organization to a technological titan with a $1.4 billion portfolio. Delving into the heart of the credit union's decision, we celebrate the familial legacy of financial wisdom passed down in Jackie's family and Sonia's profound expertise in asset-liability management.This conversation breaks ground on how Amplify Credit Union's fee-free model elevates member engagement, nurtures financial stability, and fortifies average deposit balances. We scrutinize the unexpected economic patterns that emerged, with reduced overdrafts and charge-offs, and how this strategy not only aids members but also fortifies the institution's financial health. Embracing Sonia's acumen in financial strategies, we peer into the future with anticipation and edify the importance of partnership and innovation in the banking sector. Be part of this ambitious journey toward a fee-free banking realm that redefines consumer relationships and sows seeds for a thriving, equitable financial ecosystem.

Discover the strategies financial titans are employing to steer through the stormy seas of today's economy with our guest, Mark Meyer, the insightful leader at the helm of Filene Research Institute. As we tackle topics like the effects of high inflation and shifting consumer behaviors, Mark sheds light on the need for adaptability and data-driven decision-making. The conversation promises key insights into how credit unions are not just weathering the storm, but redefining their roles and services in response to evolving demands and regulatory pressures, all the while upholding their foundational values.Get ready to unravel the ethical threads that weave through the tapestry of financial leadership. Our dialogue with Mark takes a turn into the principles of transparency and the bravery required to own up to missteps—a culture where failure becomes a stepping stone to success. We uncover the importance of third-party reviews in building trust and accountability, as Mark stresses the urgency for credit unions to innovate and align with the expectations of today's tech-savvy consumers. You'll learn how structured creativity can transform the financial landscape and why embracing change is crucial for thriving in an industry ripe with fintech disruption.As we close the episode, the spotlight turns towards the crucial role of diversity and inclusion in sparking innovation within organizations. Mark and I dissect the 'muscles' needed to incubate new ideas, emphasizing the contagious confidence of leadership that emboldens teams to test, learn, and scale new concepts. We also reflect on how embracing demographic shifts positions organizations for future success and societal progression. And as we part ways, our disclaimer serves as a humble reminder that knowledge is power, and our goal is to empower, not advise, as you navigate the ever-evolving financial terrain.

Join us for a look at the mortgage market's current state as we team up with Jake Silvey, Director of Mortgage Pipeline Hedging at ALM First. From the seismic shifts of post-recession interest rates to the dizzying heights of 2023's market values, we explore  strategies that keep lenders afloat. Learn how fine-tuning operations and slashing overhead are critical maneuvers for riding the waves of economic uncertainty and why meticulous process auditing is not just necessary, but at the heart of sustaining profitability.Venture with us into the intricate world of outsourced mortgage processes. Discover how the agility of month-to-month contracts can provide a lifeline for lenders in a rapidly changing environment. We tackle the significance of product and pricing engines for independent bankers and reveal how the strategic adoption of automated systems can streamline operations. And, for those contemplating the leap from best efforts to mortgage-backed securities hedging, we map out how expertly navigating interest rate risks could position you at the vanguard of the industry.In our closing insights, we reveal the potent strategies that can bolster your bottom line amidst investor unpredictability. Hear the transformative tale of a client's windfall through shrewd partnerships with federal home loan banks. Delve into the art of vendor relationship management, where flexible contracts and proactive customer service aren't just perks—they're the pillars of success. For anyone with a stake in the mortgage market, this episode is a treasure trove of insider knowledge, guiding you to thrive in a landscape where only the most adaptable and astute will prosper. Join us and arm yourself with the intelligence to navigate the mortgage industry's future with confidence.ALM First Financial Advisors is an SEC registered investment advisor with a fiduciary duty that requires it to act in the best interests of clients and to place the interests of clients before its own; however, registration as an investment advisor does not imply any level of skill or training. ALM First Financial Advisors, LLC (“ALM First Financial Advisors”), an affiliate of ALM First Group, LLC (“ALM First”), is a separate entity and all investment decisions are made independently by the asset managers at ALM First Financial Advisors. Access to ALM First Financial Advisors is only available to clients pursuant to an Investment Advisory Agreement and acceptance of ALM First Financial Advisors' Brochure. You are encouraged to read these documents carefully. All investments involve risk and may lose money. Speakers today are affiliates of ALM First, an investment adviser registered with the U.S. Securities and Exchange Commission. All investment decisions for client portfolios are made independently by the asset managers at ALM First. The views expressed are those of the speakers, and do not necessarily reflect the views of ALM First or any of its affiliates. These comments may not be relied upon as recommendations, investment advice or an indication of trading intent.

Unlock insights to successful executive search and talent retention with industry insiders Deedee Meyers and Tom Sievewright in the latest episode of "In Your Best Interest." Discover how the high-stakes game of recruiting top players in financial services demands a blend of strategic foresight and competitive compensation. We delve into the urgency of initiating CEO searches with ample time, and the evolving nature of the CFO role to one that requires a strategic mindset. Our conversation uncovers the pitfalls of sluggish hiring processes and reinforces the necessity for organizations to pivot quickly to secure the right candidates, ensuring their visions for the future align perfectly with those stepping into leadership roles.All statements are made exclusively on behalf of ALM First Executive Benefits LLC.

Organizational priorities, new challenges and rising expectations continue to evolve for CEOs and other leadership team members. As a leader, it's more important than ever to stay optimistic as you help ensure your team is ready to tackle whatever's next. Join two experienced leaders from ALM First and DDJ Myers as they share insights from successfully growing their businesses, brands and personal followings. 

Higher rates are generally good for depository balance sheets, income statements and franchise values. But what is the path forward for loan originators in the current environment? In this month's podcast, Kevin Shaner, Managing Director of ALM First's Loan Transaction Network joins us to discuss best practices in the lending arena along with insider tips to help your institution evaluate loan participations, loan sales, secondary markets, pricing models and profitability.

Financial institutions should consider M&A as a strategic growth option. The key to an effective transaction is ensuring ensure board members and the C-Suite are on the same page. In this month's podcast, David Ritter, Managing Director at ALM First, talks about the environment for M&A activity and how boards and executives can come together to achieve growth objectives. 

It's a classic banker's dilemma: borrowers want long loans, with today's low interest rates, and banks want to be as short as they can. In a volatile rate environment, we tackle the challenge of risk management and managing your balance sheet, as we discuss hedging strategies with Robert Perry, principal at ALM First.  

Travis Goodman is a Principal at ALM First Financial Advisors, joining the firm in 2003. Travis oversees the Advisory Services department, which is responsible for implementing actionable and effective ALM and investment strategies for client financial institutions. In addition to overseeing Advisory Services, he assists large, complex financial institutions in achieving optimal performance within policy and risk tolerances.Kevin Shaner joined ALM First in 2018 and currently holds the position of Managing Director, Loan Transaction Network and is also responsible for the national banking channel. Kevin has over 20 years of commercial and corporate banking experience and has originated, underwritten, and managed billions of dollars in the primary and secondary loan markets, across a wide variety of loan types including: government contracting, C&I, CRE, SBA, construction, project finance, auto, and residential mortgages.

David Ritter is a Managing Director at ALM First, who works with clients by focusing on both their quantitative and qualitative strategic growth initiatives; whether via facilitating an entire merger and acquisition process, conducting strategic planning, building customized sophisticated yet practical financial scenario analyses models for clients, or creating de novo business plans. David provides a multitude of advisory services to clients, including merger and acquisition guidance, business valuation and strategic planning. He has worked with credit unions, banks, mortgage companies and CUSOs to help build strategies and move quickly towards their financial goals. David also helps clients understand the true value of their business through a wide range of financial valuation services.

Robert Perry is a Principal at ALM First, joining the firm in 2010. Mr. Perry leads ALM First’s ALM and Investment Strategy Groups and is responsible for the development of asset liability and investment portfolio themes for the firm. Mr. Perry has more than 30 years of experience in the banking and bank-consulting businesses. Before joining ALM First, Mr. Perry previously served as Chief Investment Officer for First Coastal Bank in Manhattan Beach and was a Principal and Product Portfolio Manager at Smith Breeden Associates, Inc.

In the premiere episode of In Your Best Interest, we sit down with ALM First CEO, Emily Hollis. Emily joins us to discuss the history and leadership of ALM First. The company celebrates its 25th year in business and we dive into how ALM First got started and the future of the business as it looks ahead.