Newsroom
NAFCU Networks reach 12,000 users
In less than two years, NAFCU Networks have reached more than 12,000 total registered members. Launching first in 2018 with the CFO Network, the online communities have expanded to encompass five other role-specific platforms for credit union professionals to connect with peers on key industry issues.
Each of the networks – complimentary for NAFCU members – is designed by a steering committee of credit union professionals who serve in those roles, ensuring relevant discussion threads, exchanges, resources, and insights. Here's a look at the networks:
After hearing from member credit union CFOs that they needed a space to network and learn from others serving in the role, NAFCU launched the CFO Network in conjunction with its 2018 CFO Summit. NAFCU uses threads on the network to develop content for the annual summit. Some of the recent discussions have shared operational insights related to investments, what credit unions are investing in amid the coronavirus pandemic, adjusting ALM minimum thresholds, and more.
Compliance, Risk & BSA Network
Ensuring compliance across the organization is a priority for credit unions, but it can be a challenge. NAFCU launched its second network in June 2019 – now its largest – to give compliance professionals the latest regulatory and legislative updates; a resource library of templates, reports, and training; and a space to connect with others in charge of managing risk, compliance, and Bank Secrecy Act (BSA) programs. Visit the network to get insights on concentration risk, synthetic fraud, disclosures, Small Business Administration (SBA) loans, and more.
Growth is another priority for credit unions, which led NAFCU to launch the Lending Network in November 2019. As lending is an integral part of credit unions' success and income, this network is a vital resource amid the coronavirus pandemic and economic recession as consumer trends, credit needs, and lending strategies have changed. Key lending issues, including the pandemic's impact on portfolios and regulatory requirements, are covered in recent discussions, as well as specific questions on student lending, home equity lines of credit, foreign visas and more.
Supporting lending and other aspects of growth, NAFCU's next network launched earlier this year to share insights on marketing strategies, business development, and member experience. This platform allows credit union marketing professionals to get insights into marketing on mobile banking apps, advertising requirements, building member relationships, and operational issues related to holding virtual meetings or managing call centers.
As the coronavirus pandemic forced many credit unions to implement work from home policies and alter the way they typically operate, NAFCU identified a need to connect HR professionals. This platform isn't only for pandemic-related issues; visit the network to get insights into implementing social media policies, hiring strategies, offering incentives, and more.
NAFCU's newest network tackles the difficult challenge of strengthening institutions' systems and protecting members' financial data. The platform allows IT professionals to discuss and share strategies to identify fraud, guard against cybercriminals, bolster security, and improve databases.
The NAFCU Networks are free, member-only resources. Register now to join a NAFCU Network, or email info@nafcu.org for assistance. Representatives from NAFCU-member credit unions may use their NAFCU website login to access the network.