CenterPoint 1Q Spring 2016

Spring.2016

A publication of the Cooperative Credit Union Association, Inc.

CARING FOR THE COMMUNITY

Stories Inside: Digital Wallets Gradually Gaining Traction

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MA Social Responsibility Committee Donates To Coalition For The Homeless

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Credit Unions of Rhode Island Reps Gather at the State House

Cooperative Credit Union Association, Inc. www.ccuassociation.org 800-842-1242 Paul Gentile, President/CEO

EDITORS: Donna M. Bevilacqua Walter Laskos

CARING

CONTRIBUTORS: Robert Delaney Bonnie L. Doolin William F. Nagle Charlotte Whatley

FOR THE

COMMUNITY

Table of Contents PUBLISHED BY

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08 DIGITAL WALLETS BEGINNING TO

DELIVER ON THEIR PROMISE 09 MA SOCIAL RESPONSIBILITY

COMMITTEE PRESENTS CHECK TO

MA COALITION FOR THE HOMELESS

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10 CREDIT UNION NEWS –

Governmental Affairs Day Heralds the Contributions of Rhode Island’s Credit Unions

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Community Events Promote the Credit Union Difference

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Small Credit Union Conference Features Insightful Speakers

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Guinta and Matz Engage New Hampshire CU Leaders on Key Regulatory Issues

14 COMMUNITY INVOLVEMENT –

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NH Governor Hassan Purchases First Make-A-Wish Fundraising Calendar

16 CARING FOR THE COMMUNITY 19 CREDIT UNION PEOPLE 22 CALENDAR

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M E S S AG E F RO M T H E P R E S I D E N T

| by paul gentile

THE WRITING IS ON THE WALL 2015 was a good year for credit unions. As 2016 continues to unfold, let’s consider some key areas that continue to exert a positive influence on our industry and the many ways credit unions are making a difference in meeting the financial needs of their members.

LOANS CONTINUE TO GROW Credit unions do it all today in financial services, but our lifeblood remains loans.

We can all be thankful that lending at credit unions continues to boom. It’s good for business and it’s good for consumers.

The growth is happening in all areas, but auto loans stick out as a true bright spot with 19 percent and 13 percent growth in new and used respectively. More consumers who held back during the Great Recession have returned to the road with car purchases.

Member business loan growth remains steady at 11 percent as credit unions help more and more small businesses realize their dreams.

INDUSTRY HEALTH IS STRONG The health of credit unions today has never been better. Any “health” stat you look at shows that credit unions are doing quite well. Consider that the system hovers around 11 percent capital, 80 basis points of earnings, .74 delinquency and .46 charge-offs. Health abounds in the credit union system.

Today only 1 percent of shares are in troubled credit unions and the number of troubled credit unions is just 250. These are historically low numbers and one of the reasons the Cooperative Credit Union Association is advocating for a return to an 18-month exam cycle.

I am particularly thankful that NCUA Chairman Debbie Matz has taken an openminded approach to 18 months when recently engaging with our New Hampshire credit unions and is considering ways to find a path to 18 months.

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ADVOCACY IS PAYING OFF We continue to tell our story to Congress that credit unions are doing true small business lending and deserve relief from the MBL cap. All of our member credit unions can be thankful that our strong U.S. senators in Rhode Island quickly came out to sponsor the latest version of MBL legislation to expand the gap. Thank you senators!

Congress has also shown that it will get involved on behalf of credit unions.

We recently saw their support as more than 300 letters were sent by members of Congress to NCUA, calling on the agency to take a hard look at its original RiskBased Capital proposal. Many lawmakers, including our own Sen. Kelly Ayotte from New Hampshire, also urged the CFPB to push back the compliance date for TRID. Their voices weighed heavily thanks to our advocacy efforts and the relationships we have formed with lawmakers. Let’s double these efforts in the months to come.

VALUES MAKE A DIFFERENCE With approximately 100 million members nationwide, credit unions are no longer the best-kept secret in America.

The reason that consumers like us is even a better story.

Credit unions provide value. Credit unions are local. Study after study shows consumers want to do business with “values-based” organizations. Locally grown food, locally run businesses, and businesses that give back … these are all traits consumers are looking for, and credit unions are the sweet spot for locally-based “values-based” businesses.

Membership in our three states is particularly strong with 44 percent of New Hampshire consumers as members, 38 percent in Massachusetts and 33 percent in Rhode Island.

As we continue to tell our “value” story, those numbers should only improve.

It’s one of the reasons the Association launched its “Better Values. Better Banking.” consumer awareness campaign in 2015. We will tell our “value” story to consumers and look not only to increase membership, but reaffirm to existing credit union members that credit unions are the place to be.

Our industry health is strong. We’re growing our loan portfolios. Our advocacy efforts are yielding strong results, and our values-based business model continues to attract the highest ratings from consumers from among all financial services providers.

The writing is on the wall. Working together, let’s make 2016 a stellar year!

Paul Gentile, president

RECONSIDER YOUR APPETITE FOR SUBPRIME CONSUMER LOAN RISK

By Steve Hoke Even the steady consumer loan growth in recent years probably still can’t erase the conservative lending mindset most credit unions adopted in the wake of the Great Recession. “Subprime” still has an ominous connotation, spilling over from the mortgage side.

But if you’re not giving serious consideration to increasing your subprime consumer loan portfolio, you could be leaving substantial loan growth and interest income on the table. You could also be missing an opportunity to build brand loyalty by helping people rehabilitate their credit scores and escape the predatory lending cycle.

Two key factors in the lending marketplace point to increased potential for subprime loan growth and profitability: Increasing adoption of mobile banking: For many subprime borrowers, convenience is critical and the traditional lending process isn’t how they prefer to do business. Mobile devices suit their needs.

A strong, stable auto lending market: According to Experian, the total dollar volume for outstanding automotive loan balances grew by $92 million from the second quarter of 2014 to the second quarter of 2015 – the largest dollar volume growth since 2006. The increase brought the total auto loan balance to a record $932 billion.

Loan quality didn’t suffer during this growth. Experian’s report showed that the 30-day delinquency rate of 2.32 percent was the lowest Q2 rate in the past five years, down from 2.37 percent in Q2 2014.

The 60-day delinquency rate was up very slightly, from 0.603 percent in Q2 2014 to 0.607 percent in Q2 2015.

Don’t be satisfied to ride along with the national trend of increasing vehicle loans. A strong mobile lending platform and a more receptive approach to the subprime market can help you attract high-yield auto loans from a core of young members.

REACH OUT TO UNDERBANKED, MOBILE-ENABLED Unbanked and under-banked consumers are key targets for buyhere-pay-here auto lenders, finance companies, and payday lenders. A fast, convenient lending process is typically an important selling point for these lenders.

Having a sound mobile lending platform is a good tactic for any type of loan growth today. It’s especially important when you’re seeking a foothold within the population hard-working, time-pressed subprime borrowers. And they’re more attached to mobile devices than you might think.

A March 2015 report by the Federal Reserve estimated the share of underbanked consumers – those who have a bank account but also use an alternative financial service such as a payroll card, payday lender, check casher, pawn shop or auto title loan – at 16.9 percent of all consumers in 2013.

Among these underbanked individuals, 88 percent had a mobile phone, 64 percent of which were smartphones. Almost 39 percent of 6 | centerpoint | Spring.2016

this underbanked population reported having used mobile banking in the previous 12 months.

Also keep in mind that most mobile device users overall are (or soon will be) in their prime borrowing years. The Fed’s survey showed that of the mobile phone users who had used mobile banking within the last 12 months, 39.1 percent were 18-29 years old, and 33.7 percent were 30-44.

Is your website optimized for mobile devices? Do you offer a mobile lending app that streamlines the lending process?

THE SUBPRIME YIELD ADVANTAGE Let’s compare the interest income from a subprime and a superprime used-car loan, using Experian’s average Q2 2014 interest rates: 3.53 percent for super-prime (VantageScore 740+) and 14.15 percent for subprime (550-619).

Say both loans are $15,000 with a 60-month term. If both are paid off in 60 months, you earn interest of $1,384.64 from the super-prime loan and $6,011.50 from the subprime.

What about charge-offs? Even if we use a 1 percent C/O rate for super-prime and 20 percent C/O for subprime, the difference for 100 loans paid off in 60 months looks like this: • Interest for 100 super-prime loans: $138,500 - 1,385 in charge-offs = $137,115 • Interest for 100 subprime loans: $480,880 - $96,176 in charge-offs = $384,706 In addition to generating a higher average loan yield, subprime borrowers may also be a source of young, loyal member families that can leverage these loans to improve their financial futures.

According to a 2015 Equifax report, “Subprime Auto Loans: A Second Chance at Economic Opportunity,” The credit scores of consumers who received a subprime auto loan (Equifax Risk Score of under 550) in June 2010 had increased by a median of 52 points as of June 2013. Compared with consumers who had less than a 550 credit score but didn’t get auto loans, the group that did get these loans were four times more likely to have raised their credit score above 640 after three years.

The subprime auto loan market should be a good fit in many ways for the credit union industry’s mission of people helping people, as long as risk is managed prudently. This market should at least be a serious topic of discussion during strategic planning for 2016.

Steve Hoke is director of loan growth products at CUNA Mutual Group.

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DIGITAL WALLETS BEGINNING TO DELIVER ON THEIR PROMISE

By Bill Prichard

After sitting on the sidelines the last few years, the digital wallet is finally gaining traction with consumers. According to mobilepaymentstoday.com, a new Juniper Research study projects that the number of mobile wallets using contactless technology will reach 200 million by the end of 2016, representing growth of more than 100 percent since the end of 2014.

So while current reports of U.S. digital wallet adoption remain lackluster, a sneak peek into the future reveals a different paradigm.

“Right now, having a digital wallet on your phone does not mean you can give up carrying plastic cards,” said Amy MacMullen, senior product manager for CO-OP Financial Services. “You still have to find a merchant equipped with near field communication technology in order to use a digital wallet in-store, and many merchants just aren’t there yet. But we expect that dynamic to change soon.”

Consider also that Android Pay has just recently launched in the U.S with a couple of the largest issuers. And it is anticipated that Samsung Pay will soon follow.

While these and other factors have paved the way for an impending digital wallet boom, research indicates that consumers still have their hesitations. In fact, in a recent Gallup poll of 17,000 consumers, 55 percent expressed concerns over the security of digital wallets.

“The irony is that digital wallet transactions are believed by experts in the industry to be more secure than the mag stripe transactions we make every day,” said MacMullen. “So there is some education that needs to take place in the marketplace.”

Can your credit union use some help in member education about digital wallets? Please visit the website of CO-OP Financial Services (www.co-opfs.org) for a new white paper with an in-depth analysis of digital wallets technologies and market dynamics.

Bill Prichard is the senior manager of PR and corporate communications for CO-OP Financial Services.

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MA SOCIAL RESPONSIBILITY COMMITTEE PRESENTS $110,000 CHECK TO MASS. COALITION FOR THE HOMELESS; RECOGNIZES OUTGOING CHAIR

Making the check presentation from left to right are: Stephen Jones, Jeanne D’Arc CU; CCUA Chairman Bernie Winne, Boston Firefighters CU; Paul Marotta, Hanscom FCU; CCUA President Paul Gentile; MA Coalition for Homeless Executive Director Robyn Frost; David Plantier, MassMutual FCU; MA Social Responsibility Chair Nicole James, RTN FCU; Rui Domingos, Naveo CU; and Charlene Bauer, Metro CU. Missing from photo are Jon Reske, UMassFive College FCU and Debra Lee Surface, St. Jean’s CU.

Massachusetts Credit Unions continue to display their extraordinary generosity with their support of the Massachusetts Coalition for the Homeless. Members of the Social Responsibility Committee presented Coalition Executive Director Robyn Frost with a ceremonial check representing the overall donation of $110,000 on behalf of all the credit unions from 2015.

“The Massachusetts Coalition for the Homeless is grateful to the Massachusetts Credit Unions for the strong partnership we have in helping low- and moderate-income households throughout our state to avoid being homeless,” stated Frost. The support that the Coalition receives from the credit unions fuels its work, crafting statewide public policy efforts ranging from affordable housing to creating housing for unaccompanied youth. “Our mission is to eradicate homelessness from the commonwealth of Massachusetts,” remarked Frost.

Sixty-nine credit unions throughout Massachusetts that took on a wide variety of fundraising activities made this donation possible. The biggest individual contributions came from RTN Federal Credit Union in Waltham, Mass., raising more than $30,400 and Hanscom Federal Credit Union located at Hanscom Air Force Base with a donation of more than $12,000. Both credit unions raised these amounts through their own initiatives, the largest for RTN being the annual “Walk Home” which is held in June at three locations and Hanscom’s employee raffle and additional activities.

Cooperative Credit Union Association President/CEO Paul Gentile remarked, “Building on the credit union core principles of cooperatives helping people and local communities, the Massachusetts Credit Unions are committed to the Coalition and its efforts to ensure

Honoring Nicole James are CCUA Chairman Bernie Winne (left) and CCUA President Paul Gentile.

everyone has a place to call home. We are enthusiastic to strengthen our support in 2016 and working with the Coalition on future initiatives.”

Credit unions including: Boston Firefighters Credit Union, Brotherhood Credit Union, Harvard University Employees Credit Union, Liberty Bay Credit Union, MassMutual Federal Credit Union, Members Plus Credit Union, Metro Credit Union, and St. Jean’s Credit Union showed major support by donating $2,000 and above.

Frost praised the compassionate spirit of Massachusetts Credit Unions and expressed her gratitude to them for supporting the Coalition’s work. “The continuing assistance from the credit unions makes a huge difference for us to be a voice for those who are voiceless in the areas of poverty and homelessness,” exclaimed Frost. She continued, “Your efforts help us create more affordable housing within the state for families and individuals who are at-risk or homeless.”

Prior to the check presentation, Association President Paul Gentile and Chairman Bernie Winne from Boston Firefighters Credit Union recognized Social Responsibility Committee Chair Nicole James from RTN Federal Credit Union with a spray of flowers and a small token of their appreciation. James was stepping down from the committee having served more than 10 years. She was most appreciative of the gesture and thanked all members of the committee as well as Robyn from the Coalition.

The Association’s Social Responsibility Committee members extend their sincerest “Thank You” to all the credit unions and chapters in Massachusetts that supported their efforts for the Coalition. The generosity of the officials, staff and members of so many credit unions throughout the state is a true testament to the philosophy of “people helping people.”

Spring.2016 | centerpoint | 9

C R E D I T U N I O N N EWS

GOVERNMENTAL AFFAIRS DAY HERALDS CONTRIBUTIONS OF CREDIT UNIONS IN RHODE ISLAND

Credit Unions of Rhode Island attendees gather with lawmakers at RI GAD.

Lt. Gov. Daniel McKee addresses the attendees at RI GAD.

Senate President Teresa Paiva Weed commends credit unions for their good deeds.

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Rhode Island marked its Credit Union Governmental Affairs Day at the State House in Providence on Jan. 13 with a late afternoon assembly with more than 50 credit union executives meeting with lawmakers and their aides.

Association President/CEO Paul Gentile hosted the affair, calling on Gary Furtado, chairman of the Rhode Island Advocacy Committee and president/CEO of Navigant Credit Union, to also welcome those in attendance and help introduce several of the ranking lawmakers in attendance, notably General Treasurer Seth Magaziner, Lt. Gov. Daniel McKee and Senate President Teresa Paiva Weed.

McKee expressed his appreciation to the gathering for the quality of their work and service to the citizens of the state, a message repeated and underscored by Paiva Weed, who noted an assortment of milestones distinguishing that service: • Consumers save more than $31 million per year in direct financial benefits through their business with local credit unions.

• Approximately 358,000 Rhode Island residents, 34 percent of the state’s population, are credit union members personally served by 21 credit unions with over 67 local branches operating in the state.

• Rhode Island credit unions employ approximately 945 full-time and 82 part-time employees in the local workforce. They pay more than $51 million in wages annually to employees.

With financial literacy and education continuing to be a top priority for Rhode Island credit unions, the CU 4 Reality Financial Literacy Program conducted four reality fairs in 2015 impacting more than 500 students. The fairs were hosted by Wave Federal Credit Union, Community & Teachers Federal Credit Union, and Westerly Community Credit Union.

Cordial networking and discussions with lawmakers continued after the conclusion of the formal presentations.

C R E D I T U N I O N N EWS

COMMUNITY EVENTS PROMOTE THE CREDIT UNION DIFFERENCE “Better Values. Better Banking.” kicked off its consumer engagement in November, December and January, visiting select area venues in Massachusetts, New Hampshire, and Rhode Island to promote the credit union difference.

Venues included local sandwich and coffee shops, car washes, movie theaters, and bakeries, to name a few. The campaign aimed to educate consumers about credit unions and how their values make for a better banking experience.

“Each outing gave us a unique opportunity to engage consumers – listening to their stories, and telling them about the values that make credit unions what they are, while also encouraging them to visit the website, BetterValuesBetterBanking.com, to find and join a credit union in their own neighborhood,” explained Walter Laskos, senior vice president of strategic communications at the Cooperative Credit Union Association.

Campaign representatives covered the cost of a cup of coffee, a movie pass or a car wash for consumers. They also gave consumers a $10 money card to pay it forward, doing the same act of kindness for a friend or family member, courtesy of credit unions.

CREDIT UNIONS OF RHODE ISLAND FRONT AND CENTER AT DUNKIN’ DONUTS CENTER The Dunkin’ Donuts Center in Providence hosted Better Values.

Better Banking. during a Providence Bruins Game in December. Credit union representatives handed out canvas grocery bags emblazoned with the logo of Better Values. Better Banking. Before the start of the game, Credit Unions of Rhode Island were prominent as a donation was made to Special Olympics Rhode Island for the holidays.

DEBUTS FIRST IN A SERIES OF MEMBER TESTIMONIALS “Members are our most powerful advocates,” Laskos said. “Put them on camera and ask them their opinions and what you get back can be priceless,” he said, unveiling the first two video episodes in a series that has members sharing their thoughts and stories on why they do their banking at a credit union.

The new videos, each running two and a half minutes in length and labeled “Family,” parts one and two, are based on interviews Laskos conducted with actual credit union members – non-rehearsed and nonscripted – as part of the Association’s “Casting Call” and Better Values.

Better Banking.

The videos were promoted on the Better Values. Better Banking. website and through social media on Facebook and YouTube.

More episodes depicting members and their comments are in production, including another series of videos shot as “street interviews” conducted by Association President/CEO Paul Gentile. The street videos have Gentile asking random people if they know what a credit union is. And, much like the interviews done by Jay Leno during his tenure hosting the “Tonight Show,” the responses heard back can be quite entertaining.

Monty Tech students display their Better Values. Better Banking. bags and 15 Reasons. Pictured, from left: John O’Brien, Leominster CU; Monty Tech students Mariah Batallas, Gabby DaCosta, and Maddie Russo; Francis Morales, GFA FCU; and Craig Madonia, Leominster CU.

Customers at the Bean Counter and Bakery receive shopping bags and the 15 Reasons to Join a Credit Union booklet from Association President/CEO Paul Gentile (center) and WZLX-FM DJ Chuck Nowlin (far right).

The jumbotron at the Dunkin’ Donuts Center displays one of the highlights of the evening, a check presentation to Special Olympics Rhode Island. Pictured, from left: Paul Gentile, Credit Unions of Rhode Island; David Dupere, Wave FCU; and Michael Lucca and Dennis DeJesus, Special Olympics Rhode Island.

C R E D I T U N I O N N EWS

SMALL CREDIT UNION CONFERENCE

FEATURES INSIGHTFUL SPEAKERS The Small Credit Union Conference, held Nov. 8-10 in Providence, Rhode Island, brought much to the table for small credit union attendees in terms of topics including an industry update, succession planning, new mortgage opportunities, compliance, and lending, along with insightful speakers from NCUA’s Office of Small Credit Union Initiatives and Google.

The conference was hosted by the Cooperative Credit Union Association in partnership with the FISERV/CUSA Product Users Group.

Event sponsors included Navigant Credit Union, NEACH, CUNA Mutual Group, and HappyOrNot. Association President/CEO Paul Gentile kicked off the event with an update on current statistics covering national averages on ROA, CAMEL ratings, mergers, failures, and growth, specifically as they apply to smaller credit unions, as well as an overview of current lending trends. Regulation was addressed, specifically NCUA’s two big exam issues, interest rate risk, and cybersecurity, their push to gain vendor authority and the Association’s work in pushing them for an 18-month exam cycle.

Several of the speakers included: • Ann South, president/CEO of Novartis Federal Credit Union, who provided an overview of the CUSO Symbionce, which provides a wide array of mortgage services including marketing, tracking, reporting, servicing, and selling on the secondary market that all help small credit unions compete in the mortgage space.

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• Joe Casali, vice president/senior director of education at NEACH, discussed the current changes happening in the ACH world that will affect small credit unions including the Return Rate Rule, the Reinitiation of Entries Rule, and the Same-Day Clearing Rule.

• Shawna Rogers, lending consultant at CUNA Mutual Group; Ian Lampl, co-founder/CEO of LoanStreet LLC; and Krissy Ziegler, CU sales executive for CU Direct, led a three-part program titled “Lending Trends, Opportunities, and Solutions.”

The conference wrapped up with two powerful presentations. The first was delivered by Thomas Penna, economic development specialist (EDS) with the NCUA’s Office of Small Credit Union Initiatives.

Penna opened with an overview of the services provided by the agency. As an EDS, Penna supports small credit unions with training and consulting in budgeting, strategic planning, internal controls, lending, marketing, and compliance. Penna highlighted the recent changes and additions to NCUA’s website. He also reviewed the low-income designation and the grants and loans available for such activities as branching, new products, liquidity, and sustainable initiatives.

The final speaker, Loren Hudziak, solution architect at Google, presented his program, “Demystifying Google.” From the basic search engine functionality that Google is famous for to Gmail, Android Pay, Google Docs and YouTube, Hudziak highlighted changes and advances.

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C R E D I T U N I O N N EWS

GUINTA AND MATZ ENGAGE NEW HAMPSHIRE CU LEADERS ON KEY REGULATORY ISSUES

18-MONTH EXAMS, FOM, MBL, CFPB TOOK CENTER STAGE

Pictured, from left: NCUA Chairman Debbie Matz, Rep. Frank Guinta and Association President/CEO Paul Gentile.

Rep. Frank Guinta held a roundtable discussion with more than 30 credit union officials at America’s Credit Union Museum in Manchester, New Hampshire. The program featured National Credit Union Administration Chairman Debbie Matz as the guest speaker.

As a longtime member of St. Mary’s Bank Credit Union, Guinta noted his strong focus on the wellbeing of New Hampshire credit unions, and his growing concerns over the difficult regulatory climate they face.

Matz noted the importance of such roundtable discussions with credit union officials to her and the agency. She noted that while overarching policy conversations are important, the one-on-one conversations and dialogue she has with credit union officials and volunteers gives her valuable insight into the day-to-day business and issues credit unions face.

Cooperative Credit Union Association President/CEO Paul Gentile addressed the group. He said that New Hampshire credit unions have had continuous strong performance levels, and that 44 percent of the state’s population is a credit union member.

In kicking off the Q&A portion of the program, he noted that the credit union community was pleased that a proposed fieldof-membership regulation was released. The ability for congressional districts to be considered well-defined local communities, and the addition of service facility to include a transactional website are welcomed provisions. He noted that the Association plans to provide substantive comments on the rule, to include comments on the 2.5 million limit on MSAs. Credit union officials, as well as Guinta, focused on a variety of issues with the chairman.

Front and center was the issue of an 18-month examination period. Attendees expressed that New Hampshire credit unions are well positioned to be low-risk, useful candidates for a potential pilot program to test the implementation of an 18-month exam period.

Matz remained steadfast in her position that moving to an 18-month exam period in 2016 at the same time as many of the agency’s regulatory relief proposals will become effective would be an irresponsible approach.

Guinta questioned whether the NCUA has the flexibility to consider some type of col-

laboration with New Hampshire credit unions, who are performing so well, to test out a longer examination period. The chairman noted that it is a sensible idea to have some type of pilot program in a state such as New Hampshire and expressed a willingness to continue a more focused dialogue and potentially implement such a program in the future.

Other topics of interest included the difficulty credit unions are having feeling any kind of regulatory relief when regulations are constantly being amended, and new regulations are implemented. Multiple credit union officials mentioned the increased burden faced due to regulations from the Consumer Financial Protection Bureau (CFPB). Matz said she and her staff are constantly engaging with the CFPB, and attempt to explain the credit union difference and position on every issue they can, such as overdraft. Guinta asked that the chairman continue making every attempt to explain the credit union position.

Other issues of note include Matz’s expectation that the member business lending regulation would be out in 2016; that she does not anticipate that the agency will issue any new regulation or guidance on interest rate risk; and that cybersecurity is an issue of utmost concern to the NCUA and the agency strongly encourages credit unions to use the FFIEC Cybersecurity Assessment tool, and remain mindful of third-party vendor relationships.

The congressman asked that the dialogue continue between the NCUA and the New Hampshire credit union community.

“I thank both the congressman and Chairman Matz for spending the time to dialogue with New Hampshire credit unions about issues that are so vital to how they serve their members,” said Gentile. “I was thrilled with the congressman’s idea on an 18-month pilot program and for the chairman’s willingness to dialogue further on how an extended exam cycle dialogue could begin and be used to find a path to extended cycles.”

Spring.2016 | centerpoint | 13

C O M MU N I T Y I N V O LV E M E N T

NH GOVERNOR HASSAN PURCHASES FIRST MAKE-A-WISH® NH FUNDRAISING CALENDAR

The credit union representatives along with Wish Children Matty and Reese take a “photo opp” with Gov. Maggie Hassan during the 2016 Make-A-Wish Calendar kick off.

New Hampshire Gov. Margaret Hassan kicked off the MakeA-Wish 2016 Calendar Program with the New Hampshire Credit Unions and Make-A-Wish New Hampshire.

New Hampshire Credit Unions President/CEO Paul Gentile emphasized the significance of fundraising initiatives by the New Hampshire Credit Unions and praised Hassan for her support of the calendar.

“The New Hampshire Credit Unions have established a strong bond with its charitable partner, Make-A-Wish New Hampshire since 1997. This bond has become stronger, as has the respect for the tremendous work each organization does to make children’s wishes come true,” Gentile said.

He added, “The secret to the success of this relationship is our shared commitment to service and our core values of helping people.

Anyone involved knows how important Make-A-Wish is to the wellbeing of the children and the families they serve which is a true testament to the New Hampshire Credit Unions’ principles.”

The Make-A-Wish Calendar Program, limited to 2,500 calendars, gives the recipient chances at daily, weekly, and monthly cash prizes all year-long in 2016, and is in its eighth year.

Julie P. Baron, CEO of Make-A-Wish New Hampshire, commended the dedication of New Hampshire Credit Unions, the governor and the credit union community at large. “We devotedly thank you for understanding that a wish experience can be a game-changer for a child with a life-threatening medical condition. Your dedication 14 | centerpoint | Spring.2016

and passion make wishes possible that change the lives of the kids we serve. Your help allows and compels us to be creative in exceeding the expectations of every wish kid. It drives us to bring each heartfelt wish to life, while striving to make our donated resources go as far as possible,” Baron said.

She added, “Most of all, your support brings us closer each year to the founding principle of our vision to grant the wish of every eligible child. You have helped us grow from granting just a few wishes annually to a goal of granting 90 wishes this year. For us, you wear the superhero capes.”

Hassan applauded New Hampshire Credit Unions for their commitment to all the children, saying that “the spirit, strength and resilience of the Make-A-Wish children and their families inspire the people of New Hampshire. I am proud of Make-A-Wish, the New Hampshire Credit Unions and all of your supporters for providing hope to these brave children facing their toughest battles and reminding us that when we care for one another, we all get stronger.”

Hassan purchased the first 2016 Make-A-Wish Calendar from Wish Children Matthew, age 13, from Guilford, and Reese, age 9, from Brentwood, who autographed the governor’s calendar. The governor received Calendar #81, representing the Granite State’s 81st governor. The group presented the governor with a framed memento of both Matthew and Reese’s stories from the 2016 calendar, which they also autographed.

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CARING FOR THE COMMUNITY CREDIT UNIONS FIND PERFECT PARTNERS IN COMMUNITY CHARITIES

By Anna Sims

Paul Gentile

Nicole James

Robyn Frost

Brian Hughes

“People helping people” is a phrase that anyone in the credit union world is well acquainted with. The expression, of course, is the philosophy of credit unions around the country. But this philosophy is much more than words on a page, said Paul Gentile, president/CEO of the Cooperative Credit Union Association.

“Helping people, giving back – that’s kind of inherent in the structure of credit unions,” Gentile said. “Our ultimate goal is just to serve our members, and part of that is showing your members that you’re a partner in the community, beyond just providing financial services.”

One way that the credit unions in Massachusetts, New Hampshire, and Rhode Island show support for their communities is through Social Responsibility Committees. Each state has its own committee, and each committee has partnered with a local organization to provide support to its cause.

The Massachusetts Credit Unions partner with the Massachusetts Coalition for the Homeless; the New Hampshire Credit Unions partner with Make-A-Wish® New Hampshire; and the Credit Unions of Rhode Island partner with Special Olympics Rhode Island.

Together, the three states have donated more than $3.75 million to their partner charities. But these credit unions do more than provide financial support. Over the years, credit union employees have volunteered their time at events, donated personal belongings and spoken out to spread awareness for their causes.

“We take a lot of pride in each state pursuing its own individual effort,” Gentile said. “They’ll do it for years and years to come because it’s so true to nature of what credit unions are all about.”

MASSACHUSETTS The Massachusetts Credit Unions have been working for more than 20 years with the Massachusetts Coalition for the Homeless, which works toward systemic change for the issues around poverty and homelessness. Two years ago, at a walk to raise money for the organization, Nicole James, senior vice president of retail services at RTN Federal Credit Union and head of the Massachusetts Social Responsibility Committee, was reminded of why that relationship is so important to her.

The credit unions had brought in a local musician to sing the national anthem before the walk began. She was a beautiful young woman, somewhere in her twenties, James recalled. “Before she sang she told me, ‘The reason I wanted to do this is because I was homeless at one point in 16 | centerpoint | Spring.2016

Julie Baron

David P. Dupere

Dennis DeJesus

my life,’” James said. “It sent chills down my spine because it made me realize, the face of homelessness is so different than what we might think.”

James has been involved with the Massachusetts Social Responsibility Committee for more than 10 years. In that time, she’s learned a lot about the true face of homelessness in the Bay State.

“The average age of a homeless person is seven or eight,” James said, citing a statistic from the Massachusetts Coalition for the Homeless.

“Typically, it’s a mother with two children who is no longer able to stay in an apartment. Typically, it’s not someone who isn’t working; they are working [and] they do have some source of income, but given the cost of housing in Massachusetts, they’re unable to support themselves and their children.”

In addition to providing assistance to individuals without housing, the Massachusetts Coalition for the Homeless also operates a furniture bank and has began a program called A Bed for Every Child; both of these initiatives assist adults and children who are transitioning back into a house after experiencing homelessness.

The Massachusetts Credit Unions have raised more than $100,000 in support of these efforts this year, and more than $1.6 million since the partnership began, through golf tournaments, credit union donations, and more. The credit unions have also donated books and blankets to be distributed to children in need.

James believes fighting homelessness is particularly in line with the mission of credit unions. “When you think about the purpose of credit unions, we are there to help our members get into homes, through home mortgages and things like that. And yet there’s a percentage of the population who are not able to own or rent a home,” James said.

“That’s a big deal.”

Officially, there are around 20,000 individuals currently accessing some form of state-funded shelters, said Robyn Frost, executive director of the Massachusetts Coalition for the Homeless. “But that number is not a true number because there are thousands more people who are without housing of their own who are not being counted,” Frost said.

According to Frost, the support from the credit unions is invaluable to providing these services. “Our partnership [with the credit unions] is not only a financial one; it is a partnership that helps with material needs and education,” she said. “Without partners like the credit unions across Massachusetts, the work that we do cannot be accomplished.”

Continued on page 18

Credit unions in all three states not only support their state-designated charities, they also support their local communities, schools, agencies, charities, and so many in need. Listed below and on the following page is a random sample of credit unions and chapters and their charitable endeavors from October to January.

Align Credit Union – Our Neighbors’ Table, Manolis Family Foundation, Inc. (Project Helping Hands), MassHousing, Merrimack Valley Housing Partnership, Coalition for a Better Acre (Community Dream Mortgage Program), Boys & Girls Clubs of Greater Haverhill, Greater Lowell and MetroWest Central One Federal Credit Union – Shrewsbury Education Foundation Athol Credit Union – Salvation Army City of Boston Credit Union – Boston First Night Fireworks Coventry Credit Union – Coventry High School Cranston Municipal Employees Credit Union – Comprehensive Community Action Program (Toy Drive) First Priority Credit Union – East Boston Community Thanksgiving Day Dinner, Crossroads Family Shelter, Labouré Center, North Shore Animal Shelter Freedom Credit Union – Food Bank of Western Mass.

Greylock Federal Credit Union – Berkshire County Kids’ Place, Special Olympics of Berkshire County, Moments House, Elder Services of Berkshire County, Construct, Pediatric Development Center, PopCares Inc., Kiwanis Club, Eleanor Sonsini Animal Shelter, Berkshire County Arc (BCArc), Soldier On, The Dream Center, Neighbor-to-Neighbor Fund, St. John Paul the Great Food Pantry Hanscom Federal Credit Union – Red Sox Foundation,Massachusetts General Hospital (Home Base Program), Home Base Mission Gratitude, Hanscom AFB Airman Leadership School Graduation, Fisher House, Burlington Food Pantry, Patriot Enlisted Association Holy Rosary Credit Union – The Community Food Pantry of Somersworth, Interfaith Food Panty of Farmington, Christmas for the Elderly in Rochester, the SHARE Fund of Rochester, Seeds of Faith in Somersworth, the Friends of Hyder Family Hospice House, Rochester Youth Reach, Dover Police Charities, Seymour Osman Community Center Barrington Community Food Pantry, On Belay, Spaulding High School Raider Station Student Pantry, Hope on Haven Hill, St. Elizabeth Seton School, Community Action Partnership of Strafford County, Somersworth SHARE Fund, Homeless Center for Strafford County

Merrimack Valley Federal Credit Union – Merrimack Valley Turkey Brigade, Emmaus Metro Credit Union – CONNECT, Chelsea Collaborative, Chelsea Education Foundation Inversant Program, Jordan Boys and Girls Club, Roca, Hallmark Health System, The Neighborhood Developers of Chelsea Naveo Credit Union – City of Somerville (Bike Racks), Leukemia & Lymphoma Society, Somerville Homeless Coalition, Boston Children’s Hospital Northeast Credit Union – Honor Flight New England, Heart Media (Lend A Helping Can), Pro Portsmouth, Inc. (First Night, Children’s Day, Market Square Day, Summer in the Street) Homeless Center for Strafford County, 13 Food Pantries, Portsmouth Naval Shipyard Pawtucket Credit Union – RI Food Pantries People’s Credit Union – United Way, Salvation Army Pioneer Valley Credit Union – Shriners Hospitals for Children (REACH Toy Drive), Toys for Tots, Westover Airman and Family Readiness Center (Children’s Christmas Party),94.7 FM WMAS 94 Foot Christmas Tree Gift Giving Programs Polish National Credit Union – Forest Park Zoo Premier Source Credit Union – Springfield Salvation Army (Coats for Kids) Quincy Credit Union – Avon Foundation for Women, Braintree High School (Wamp Stop) RTN Federal Credit Union – Newspapers in Education, Costumes for Kids Service Credit Union – Landstuhl Fisher House in Landstuhl, Germany, NH Global War on Terror Memorial, GreenLight A Vet Campaign, NH Food Pantries, Chaplain Emergency Relief Fund Southern Mass Credit Union – Fairhaven Council on Aging (Veterans’ Day Lunch), Massachusetts National Guard St. Mary’s Bank Credit Union – Boys & Girls Club of Manchester Triangle Credit Union – Humane Society of Greater Nashua, The Front Door Agency, The Salvation Army

IC Federal Credit Union – DAV Chapter 24, Vet Togethers, Boys & Girls Club, GVNA, Health Alliance Hospital

UMassFive College Federal Credit Union – American Cancer Society

Jeanne D’Arc Credit Union – Power of Flowers, Lowell General Hospital Team Walk for Cancer, Mays Miller Corn Flour Factor in Nairobi, Kenya, Toys for Local Children

Westerly Community Credit Union – Ocean Community YMCA, American Cancer Society, American Heart Association, Mini’s Making a Difference, Children’s Miracle Network Hospitals, American Lung Association, American Diabetes Association-Tour de Cure,Food Allergy Research and Education,Alzheimer’s Association

Leominster Credit Union – Kylee’s Kids, Leominster Mayor’s Heating Fund, Habitat for Humanity/Worcester, Sholan Farms, Community Harvest, Two Local Families MembersFirst Credit Union of N.H. – Manchester Police Athletic League

Workers’ Credit Union – American Cancer Society (Relay for Life), Kylee’s Kare Kits for Kidz, United Way of North Central Massachusetts, Home Instead Senior Care, Toys for Tots,The Arc of Opportunity Spring.2016 | centerpoint | 17

CARING FOR THE COMMUNITY

Continued from previous page

Chapters

NEW HAMPSHIRE Central Mass. Chapter, MA – Worcester County Food Bank Metro-Boston Chapter, MA – Toys for Tots Merrimack Valley Chapter, NH – Make-A-Wish New Hampshire Monadnock Chapter, NH – Make-A-Wish New Hampshire Pioneer Valley Chapter, MA – Toys for Tots Southern Mass. Chapter, MA – Massachusetts Coalition

for the Homeless (Toy Drive)

Before he began working with Make-A-Wish® New Hampshire, Brian Hughes, president/CEO of Holy Rosary Credit Union and head of the New Hampshire Social Responsibility Committee, had no idea how much work went in to granting each child’s wish.

Julie Baron, CEO of Make-A-Wish New Hampshire, agreed that it is a very detail-oriented process. “When granting a wish, we try to get at why this child wants this wish; what about it makes their heart sing?” she said.

“So, we train our wish granters to meet with the child and try to sift out why they want it. They ask questions – ‘When you close eyes, what do you see? Who’s around you?’ This helps us get at the ‘why.’ It is how we can put the special touches in and bring each wish to life in a really creative way.”

The New Hampshire Credit Unions put just as much effort into their partnership with Make-A-Wish New Hampshire as the nonprofit puts into granting the wishes of children with life-threatening medical conditions. The New Hampshire Credit Unions have raised a total of $2.1 million for Make-A-Wish New Hampshire, thanks, in part, to the enthusiasm of its Social Responsibly Committee.

“I have not been on any committee that has shown the same kind of enthusiasm that this committee has,” Hughes said. “Everyone really seems to connect to Make-A-Wish and the work they do. And the folks from Make-A-Wish are so involved with the committee – Julie Baron and the staff, together come to the credit union events.”

The mutual support and admiration between the New Hampshire Credit Unions and Make-A-Wish New Hampshire became especially apparent when the child receiving a wish was the granddaughter of an employee at Triangle Credit Union.

Hughes said being a part of this wish, which involved giving the child a tree house, was one of the most memorable moments of his involvement.

“It was just such a remarkable experience to see. She took me to the tree house, and she was so excited,” Hughes recalled. “She had a pretty serious illness, but for that period of time, she was just like any other kid. That’s the kind of stuff you see that makes you want to keep doing more and more.”

Make-A-Wish New Hampshire is able to grant about 84 children’s wishes per year, Baron said. It’s an impressive number, but, according to Baron, the hope is to grant them all. “We know that approximately 112 kids are diagnosed with life-threatening medical diseases in New Hampshire each year. … Our goal is to grant a wish for every eligible child, and we’re not there yet,” she said. “These wishes really do make a difference in these kids’ lives.”

Baron knows the credit unions are committed to helping Make-AWish New Hampshire achieve this goal. “The credit unions have been 18 | centerpoint | Spring.2016

literally a hero for us for 18 years,” Baron said. “They have been there through thick and thin. They have inspired others to be part of our mission. And it’s amazing how people from all aspects of the credit union movement have gotten involved, supporting us each and every year.”

RHODE ISLAND The Credit Unions of Rhode Island have been a proud partner of Special Olympics Rhode Island for more than 15 years. While many people know about the statewide Summer Games that Special Olympics puts on every year, Dennis DeJesus, executive director of Special Olympics Rhode Island, said that event is only one part of the organization’s work. “Certainly the [Summer] Games are a highlight, but we are running events January through December,” DeJesus said.

Special Olympics Rhode Island offers year-round sports training and athletic competitions for more than 3,000 athletes with disabilities in 25 official and demonstration sports. Outside of those events, Special Olympics is also heavily involved with health issues, and it offers nutrition seminars and walking clubs.

Through Special Olympics Project UNIFY, a national project funded by the U.S. Department of Education, athletes with and without disabilities compete together, fostering friendship, understanding, and respect between all athletes, regardless of their differences.

David Dupere, executive vice president and COO at Wave Federal Credit Union and chair of the Rhode Island Social Responsibility Committee, believes Special Olympics Rhode Island is able to handle so many events and projects because of its dedicated employees. “The staff of the organization is phenomenal,” he said. “I don’t think there’s one person there who doesn’t work 50 to 60 hours per week.”

DeJesus thinks the Credit Unions of Rhode Island play a role in the organization’s success. “When you look at our operating budget, [the Credit Unions of Rhode Island] are the largest single corporate donor. They’re just amazing,” DeJesus said. “They work tirelessly to make sure our athletes have the resources they need in order to compete and train and get ready for competition. … Every year, the Social Responsibly Committee sets the bar higher and higher. There’s no such thing as ‘status quo’ with this group.”

The Credit Unions of Rhode Island have raised $800,000 for Special Olympics Rhode Island since the organizations partnered. The credit unions have held golf and bowling tournaments, sold candy bars, and much more to raise those funds. But the support the credit unions provide is much more than financial. Dupere has served on the Special Olympics Rhode Island board of directors for four years. The credit unions send between 60 and 70 volunteers to the Summer Games.

Dupere said volunteering at the Summer Games is one of his favorite parts of the partnership. “When I initially [became involved], I was fundraising, and it was great because I like organizing,” he said. “But going down to the Games, working one-on-one with the athletes and being there at the finish line cheering for them was great. … Seeing everyone’s hard work come together, you have this moment where you’re just breathless.”

Dupere called the atmosphere at the Summer Games, “like a family [where] everyone knows everyone.” “The athletes are very grateful.

They’re always telling us how thankful they are for what we do, and we’re telling them how grateful we are to work with them,” Dupere said.

“The Rhode Island credit unions are very committed to this cause, and we’re so grateful that we’re able to be involved.”

C R E D I T U N I O N P EO P L E Welch Named President/CEO at Freedom Credit Union; Crosby Retires Freedom Credit Union’s board of directors in Springfield, Mass., announced the appointment of Glenn S. Welch as the new president/CEO, effective Jan. 4. Welch succeeds Barry F. Crosby, who has served as president/CEO of the stateGlenn S. Welch chartered credit union since 2003.

“After conducting an extensive search that identified several superbly qualified candidates, we have decided that Glenn S. Welch is our choice to lead Freedom,” said Lawrence Bouley, chairman of the board. “Throughout the process, it was extremely important to us that the new president could build on the strong foundation already in Barry F. Crosby place at Freedom. And to that point, we are grateful for the leadership that Barry Crosby has provided over the past 12 years,” Bouley added.

“I am grateful to serve as Freedom’s new president and to continue the organization’s 93-year tradition of serving the members, families, businesses, and communities of the Pioneer Valley,” Welch said.

Most recently, Welch was an executive vice president of Berkshire Bank following their acquisition of Hampden Bank (HB). Prior to that, he was president/CEO of Hampden Bank for two years before the Berkshire Bank acquisition. During his 17-year tenure at HB, he held various positions including, president/COO, executive vice president, and senior vice president of business banking.

Barry Crosby, president/CEO, has been in the financial services industry for more than 40 years. During his tenure at Freedom, Crosby has overseen the growth of the credit union from a one office operation in Springfield to 10 branch locations and an operations center throughout the Pioneer Valley of Western Massachusetts.

A key part of this growth was Crosby’s management of two mergers – one with a credit union in Hampshire County and another in Franklin County. These mergers led to the expansion of Freedom’s products and services to residents who live, work, or attend school in the four counties of Western Massachusetts.

Murphy Named President/CEO at Members Plus Credit Union; Santoro Retires

John J. Murphy

Al Santoro

Members Plus Credit Union in Medford, Mass. announced the election of John J. Murphy as president/CEO. He succeeds Al Santoro, who served as president/CEO since 2008.

Prior to joining Members Plus in 2015 as the executive vice president, Murphy was president of Salem Seaport Credit Union, senior vice president of Reading Cooperative Bank, president/CEO of Everett Credit Union, and first vice president and director of operations of the Federal Home Loan Bank of Boston.

“Having served as executive vice president for the past year, I am pleased to say that serving in a leadership role at the credit union has been an honor, not to men-

tion a wonderful experience working with a great group of employees and dedicated membership. I look forward to my new role in the coming year. I am truly committed to our members and the communities that we serve,” Murphy said.

A resident of North Reading, where he is town moderator and former chairman of the board of selectmen, Murphy is always active in business and community affairs. He is currently a director of the Burbank YMCA in Reading and a corporator for Hallmark Health.

Al Santoro retired as president/CEO of Members Plus Credit Union, effective Jan. 1. His retirement brings to close a noteworthy career of over 35 years in banking and credit union management and leadership.

During the last 10 years, Santoro has been a strong leader in the evolution and growth of Members Plus Credit Union. He first came on board in 2005 as the vice president of development and planning. In this role he was tasked with the critical responsibility of planning and the establishment of the main branch in Medford, located at 29 High St. in Medford Square.

In December 2008, the board appointed Santoro as president/CEO. Since this time he has successfully managed the credit union through system conversions, regulatory changes and financial, market and recession challenges. He was the first CEO in the Massachusetts financial industry to implement a prefunded employee benefit portfolio.

Greylock Federal Credit Union Appoints New Director; Announces Promotions Greylock Federal Credit Union in Pittsfield, Mass., announced the selection of Tyrone A. Jackson as the newest member of the credit union’s volunteer board of directors. Jackson fills the board Tyrone A. Jackson seat vacated by former President/CEO Marilyn L. Sperling, who retired in October. Jackson has served on Greylock’s Supervisory Committee for the past year. The board of directors also approved the promotions of Jodi Rathbun-Briggs to senior vice president and chief lending officer and Michael Stoddard to executive vice president.

Jackson is currently the head of Big Head Jodi Rathbun-Brigg Books LLC, a literacy organization he founded in 2011 with an educational and socially conscious mission. The organization’s goal is to expose children to the joy of reading through visits to schools, libraries, youth organizations, and other venues.

Jackson is the author of several children’s books, including, “When I Close My Eyes,” “The Supadupa Kid,” “You Are Amazing, I am Amazing,” and Michael Stoddard “Danny Dollar Millionaire Extraordinaire.”

Rathbun-Briggs was previously vice president of commercial banking and will replace Chief Lending Officer Charles A. Bercury, who retired in 2015.

Rathbun-Briggs has been with Greylock for five years, after a 10-year banking career. She joined Greylock as the assistant vice president of risk management and within a short time was promoted to vice president of commercial banking.

Continued on next page

Spring.2016 | centerpoint | 19

C R E D I T U N I O N P EO P L E

Continued from the previous page

Stoddard has been with Greylock since 2014. Previously, he spent 30 years at Concord Savings Bank in Concord, N.H., and at Maine Bank & Trust in Portland, Maine. He will continue in his role as Greylock’s chief financial officer.

Bank in Brockton, Mass., and also worked for Fleet Bank and the New Bedford Institution for Savings.

Pawtucket Credit Union Announces Promotions

Merrimack Valley Federal Credit Union Announces New Senior Managers

Michael Farren

Anthony Marino

Yean-Ai Long

Merrimack Valley Federal Credit Union in Lawrence, Mass., added three new senior managers to its management team.

Michael Farren joined the credit union as vice president of lending. In this position, he will be responsible for retail and business lending. Farren has over 15 years of lending experience with broad lending and business development background from previous credit unions, and as a former business owner.

Anthony Marino was promoted to vice president of operations. Through his 35 years of financial institution experience, Marino has compiled an extensive background in both sales and operations. He will lead retail operations and manage the network of branches.

Yean-Ai Long joined the credit union as vice president of marketing. Long has over 20 years of marketing, communications, product management, and supervisory experience in state government and the financial services industry. She will be responsible for all marketing and communications efforts.

MembersFirst Credit Union of NH Promotes McCormick MembersFirst Credit Union of NH in Manchester, N.H., announced the promotion of Cynthia McCormick, vice president of retail and operations. In her new role, McCormick will be responsible for operation and oversight of all Cynthia McCormick MembersFirst branches, its call center, deposit operations and compliance, and Bank Secrecy Act (BSA) compliance.

McCormick received her bachelor’s degree from the University of New Hampshire and her master’s degree from the University of Nottingham, England, and she is a BSA-certified specialist.

People’s Credit Union Announces Promotion of Vice President of Retail and Member Experience

Joseph Silva

John Clarkson

Brian McMahon

Pioneer Valley Federal Credit Union Announces Promotion of Hayward Pioneer Valley Federal Credit Union (PVFCU) in Springfield, Mass., has announced the promotion of Debra Hayward to vice president of branch administration. Hayward has been with PVFCU for more than 23 years, most recently as the vice presiDebra Hayward dent of lending. Prior to joining Pioneer Valley Federal Credit Union, she was a branch manager with SIS Bank.

Jeanne D’Arc Credit Union Announces New VP of Operations

Richard Denio

People’s Credit Union in Middletown, R.I., announced the promotion of Jane McDurman as vice president of retail and member experience.

Along with her current duties of managing the Jane McDurman credit union branch network, McDurman will be responsible for the credit union’s Member Experience Program.

Prior to joining People’s Credit Union in 2012, McDurman held the position of vice president of retail operations at the Community

Mark S. Cochran, president/CEO of Jeanne D’Arc Credit Union in Lowell, Mass., has announced the hiring of Richard Denio as vice president of operations. Denio has 20 years of experience in the financial services industry and extensive experience in operations management.

Rodman Joins Holy Rosary Credit Union as VP of Lending Holy Rosary Credit Union in Rochester, N.H., announced the addition of Lisa Rodman as vice president of lending. Bringing more than 25 years of experience in banking and lending to HRCU, Rodman’s career has included working for credit Lisa Rodman

20 | centerpoint | Spring.2016

Pawtucket Credit Union President/CEO George J. Charette announced the following promotions: Joseph Silva has been promoted to senior vice president of commercial lending. He is responsible for the management and growth of the credit union’s commercial loan portfolio including real estate and business lending.

John Clarkson has been promoted to vice president of security. Clarkson’s responsibilities include the overall security of the credit union, fraud investigations and anti-money laundering along with employee training regarding security matters.

Brian McMahon has been promoted to vice president of commercial lending, having previously served as assistant vice president of commercial lending. McMahon is responsible for developing new business loan relationships including real estate, equipment loans and lines of credit.

unions and banks located in Missouri, Virginia, North Carolina, and even a two-year stint in Spain.

Rodman is a graduate of the University of Missouri, holding a degree in business administration with a focus in finance.

W.H. Nichols Employees Federal Credit Union’s Manager Retires

The new year saw many changes for the W.H. Nichols Employees Federal Credit Union in Devens, Mass., as its Manager Helen Desrochers retired after a 54-year career and a merger with Hanscom Federal Credit Union. The credit union served the employees of Nichols Waltham and Parker Devens for 57 years.

Desrochers helped so many Parker employees and family members grow and will always be remembered for her unending giving of friendly guidance to those who had little financial knowledge. She went above and beyond the motto of people helping people by sending gentle reminders to members that their mortgage was due; delivering checks and loan applications directly to a member’s house; calling credit companies to consolidate a struggling member’s bill payments; reviewing a member’s debt to plan a manageable recovery of credit; helping employees negotiate car deals; collecting food and other items for charitable organizations; and so much more. Desrochers had a positive impact on every member who traveled through the credit union’s doors.

In Memoriam: Andy Hollatz

Glen “Andy” Hollatz, director, employee benefits with Members Insurance Agency (a subsidiary of the Cooperative Credit Union Association), passed away unexpectedly on February 25. He joined the Agency in 1999.

He will always be remembered by his colAndy Hollatz leagues and credit union friends and associates for his warm and encouraging personality and his commitment to credit unions and their success.

Andy was a loving and devoted husband, married to Christine (Power) Hollatz and the proud father of two sons, Alexander of Tamworth, N.H., and Matthew. He grew up in West Yarmouth but lived in Quincy with his wife and son.

His love of sports began at an early age as a starting pitcher for the Stonehill College Skyhawk’s baseball team. In addition to Andy’s service to the Agency and his many credit union clients, he loved coaching his Quincy Elks youth baseball teams and basketball. He gave freely of his time and truly enjoyed encouraging, inspiring and being a strong mentor.

The Agency and Association’s deepest sympathies are extended to Andy’s family.

Donations can be made in memory of Andy to Quincy Youth Baseball, 101 Butler Road, Quincy, MA 02169, Attn: Mike Conners.

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C R E D I T U N I O N C A L E N DA R SPECIAL EVENTS

Financial Education Network

Credit Unions of Rhode Island “Strike for Gold” Charity Bowling Tournament March 23 – East Providence Lanes, East Providence, RI

Financial Education Network Meeting March 16 – CCUA, Marlborough, MA

Great New England Credit Union Show April 28 – Holiday Inn, Boxborough, MA

HR Meeting June 2 – CCUA, Marlborough, MA

Special Olympics Rhode Island 48th Summer Games June 3-5 – University of Rhode Island, Kingston, RI Richard Mahoney Charity Golf Tournament June 9 – Candia Woods Golf Links, Candia, NH Credit Unions of Rhode Island Charity Golf Tournament July 18 – Crestwood Country Club, Rehoboth, MA Massachusetts Credit Unions Charity Golf Tournament August 10 – Juniper Hills Golf Course, Northborough, MA Hike-The-Hill September 14–15 – Washington, DC

HR Network

Lending Network

New Federal Regulations Targeting Student Accounts, Including Debit & Prepaid Cards: Effective July 1, 2016 April 5 Managing IRA Beneficiary Designations & Distributions April 6

Lending Network Meetings Sponsored by: CU Direct Corporation April 26 – CCUA, Marlborough, MA

Post EMV Card Liability Shift: Managing & Mitigating Card-Not-Present Fraud April 7

Marketing & Business Development Network

Your Depositor Has Died: Actions to Take, Mistakes to Avoid April 13

Marketing & Business Development Network Meetings Sponsored by: Synergent March 24; June 23 – CCUA, Marlborough, MA

Small Credit Union Network

Fundamentals of Residential Mortgage Underwriting April 19

Small Credit Union Network Meetings Sponsored by: NEACH March 22 – CCUA, Marlborough, MA

Troubled Debt Restructuring: Determination & Accounting April 20

Training Network

Managing Absenteeism & Leaves of Absence April 21

CONFERENCES AND CONVENTIONS

Training Network Meetings Sponsored by: New England College of Business April 27 – CCUA, Marlborough, MA

CU Accelerate 2016 May 13-15 – Newport Marriott Hotel, Newport, RI

CHAPTERS Central Massachusetts Chapter t

Regulator Expectations for Risk Assessment: Policies, Procedures & Steps in Obtaining Board Approval April 26

Cooperative Credit Union Association Annual Meeting and Convention October 12-14, 2016 – Mohegan Sun, Uncasville, CT October 25-27, 2017 – Mohegan Sun, Uncasville, CT

Monadnock Chapter

Call Report Preparation: Avoiding Common Errors April 27

Pioneer Valley Chapter

ACH Rules Update 2016 April 28

SEMINARS AND SCHOOLS

Developing Great Managers Part II – April 5; Part III – May 3 – CCUA, Marlborough, MA

Credit Union Employee Boot Camp May 25; September 14 – CCUA, Marlborough, MA Supervisory Skills April 12 – CCUA, Marlborough, MA Account Administration April 14 – CCUA, Marlborough, MA Exceptional Leadership Part I – May 10; Part II – June 7 – CCUA, Marlborough, MA BSA Update May 17 – Whites of Westport, Westport, MA September 20 – Angelica’s Middleton, MA

NETWORKS Compliance Network

Compliance Network Meetings Sponsored by: Macpage March 10; June 9 – CCUA, Marlborough, MA

Finance Network

Finance Network Meeting Sponsored by: UBS May 18 – CCUA, Marlborough, MA

May 11 – Wachusett County Club, West Boylston, MA

April 7 – NGM Emp. FCU, Keene, NH April 12 – Location TBA May 10 – Location TBA

Tri-County North Chapter April 13 – Location TBA June 7 – Anthony’s, Malden, MA

WEBINARS Flood Insurance Compliance Update & FAQs March 16 Lending Series: The CFPB’s Four Ds of Fair Lending: Deceptive Marketing, Debt Traps, Dead Ends & Discrimination March 22 Cyber Series: Outsourcing Tech Services: Regulations, Examiner Expectations & Actions for Vendor Management March 23 Hot Topics in Social Media Strategies: Techniques & Trends for Credit Unions March 29 Debt Collection Series: Your Member Has Filed Bankruptcy, Now What?

March 30 Developing Your Same-Day ACH Game Plan March 31

Conducting the Annual Physcial Security Review May 3 Loan Participation Due Diligence: Practices, Documentation, Servicing & Risks May 4 Fee Income Strategies 2016: Challenges, Issues & A Look Ahead May 5 Quarterly Supervisory Committee Series: Success Planning for the Board & Supervisory Committee May 10 Frontline Series: Business Accounts: Who is Authorized to Open, Close, Transact?

May 11 Managing the Force-Placed Insurance Process May 12 Wire Transfer Compliance, Including International Remittances May 17 Director Series: Appraisal & Evaluation Guidance on Collateral Valuation: Lender & Board Perspectives May 18

Please visit the Cooperative Credit Union Association’s website for additional calendar events, webinars, meetings dates and times. www.ccuassociation.org.

22 | centerpoint | Spring.2016

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