Credit Union Conversations

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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