In the latest episode of 22 Minutes in Lending , we’re joined by Elizabeth Adcock and Darcie Morgan of MAC Federal Credit Union who have helped oversee transformational growth at the credit union, driven by a diligent approach to AI and digital investments. Discover how this credit union has bridged the gap between traditional and technical services while still keeping their communities loyal and engaged. Key takeaways: 01.35: An overview of MAC FCU and how they strategically expanded their phys...
Dec 30, 2024•22 min•Transcript available on Metacast In this episode, Capitol Hill insider John McKechnie takes an unflinching look at the Consumer Financial Protection Bureau's (CFPB) Rule 1033, unpacking what it means for credit unions, consumers, and fintech. In this top-level discussion, McKechnie and host Vince Passione discuss the liability risks posed by third-party data sharing, the rule’s black, white, and grey areas, and the roadmap for navigating further regulatory complexities in the year ahead. Key takeaways: 00.47: Key implications f...
Dec 16, 2024•25 min•Transcript available on Metacast In this episode of 22 Minutes and Lending , host Vince Passione welcomes Juan Fernández Ceballos , president and CEO of Luminate, the credit union league for Louisiana. From helping smaller credit unions build economies of scale to challenging core providers to do better; addressing succession issues to navigating the incoming political administration, Juan Fernández offers a bold new vision for how credit union leagues can adapt and evolve their services to ensure every credit union can thrive....
Dec 02, 2024•26 min•Transcript available on Metacast In this second of two episodes with Kareem Saleh , Founder and CEO of FairPlay AI, host Vince Passione continues the conversation on how AI, to date, has fallen short of its potential to deliver a fairer lending environment for all consumers, but how addressing historical bias in the learning data can create a more equitable future. Key takeaways: 0:00 Intro 1:00 How historical data–the data that AI is typically trained on–contains bias, and therefore can perpetuate bias in the future. 2:2...
Nov 12, 2024•19 min•Transcript available on Metacast In this first of two episodes with Kareem Saleh , Founder and CEO of FairPlay AI, host Vince Passione takes a deep dive into the world of AI underwriting: How it’s been used in the past, how it has fallen short of its potential to remove bias in lending decisioning, and how the pioneering concept of Fairness-as-a-Service may yet revolutionize the AI lending game. Key takeaways: 0:00 Intro 2:06 How the murder of George Floyd compelled Kareem Saleh to look for ways he could more effectively change...
Oct 28, 2024•24 min•Transcript available on Metacast In this episode, Misha Esipov , co-founder and CEO of Nova Credit, joins host Vince Passione to discuss the millions of “Credit Invisible” people in the country, and how innovations in credit reporting can help more lenders reach and serve them. Key takeaways: 0:00 Introduction 1:29 Millions of people arrive in the U.S. each year, many of whom have been credit-worthy in their respective nations but the U.S. credit system doesn’t recognize their credit history. 2:19 There are around 100 million A...
Oct 15, 2024•24 min•Transcript available on Metacast Join host Vince Passione as he meets with Bill Moniz , CEO of Cinch, to discuss the turbulence and trends of the auto finance industry. From the rise of negative equity to prime-only lending strategies, Bill shares insights on how credit unions can navigate credit quality challenges, discusses educating members on financing options, and gives his thoughts on market reactions to an expected Federal rates drop. Key takeaways: 1:21 - The history of Credit Union Loan Source and Cinch: Two organizati...
Sep 23, 2024•25 min•Transcript available on Metacast If the 67 million Hispanic consumers in the USA were their own nation, they’d have the sixth largest GDP in the world. And yet, they’re overlooked and underserved by mainstream banks and credit unions alike. On this episode, host Vince Passione and Victor Corro , CEO of Coopera Consulting, discuss how credit unions can earn the right to serve these nuanced members. Key takeaways: 03:17 - “Hispanic, Latino, Latinx” are imperfect labels that fail to acknowledge the depth and nuance of individual i...
Sep 09, 2024•27 min•Ep 7•Transcript available on Metacast Serious mistakes on credit reports is the number one consumer complaint, but are these issues really a surprise? The systems were developed decades ago, and were never intended to take the scale and breadth of information the modern consumer can now provide. On this episode, host Vince Passione is joined by Christian Widhalm , CEO at Bloom Credit, to discuss the opportunities for improvement. Key takeaways: 01.24: Almost a quarter of people find serious mistakes in their credit reports. The CFPB...
Aug 19, 2024•24 min•Transcript available on Metacast Is the key to credit union success just better marketing? On this episode, host Vince Passione is joined by Barry Kirby, co-founder and chief revenue officer of Union Credit, to discuss the products and placements that could revolutionize consumer preferences. Key takeaways: 2:07 - How a “marketplace” helps expand credit unions’ institutional reach and brand awareness. 5:25 - Opportunities for credit unions to leverage credit cards to reach younger audiences. 8:28 - The ‘08 financial crisis shif...
Jul 29, 2024•26 min•Transcript available on Metacast On this episode, host Vince Passione is joined by Dave Ledwell, SVP, Consumer and Business Lending at Navy Federal Credit Union–the world’s largest credit union. The discussion covers all things auto-lending, the opportunities and risks facing fintech, and how credit unions can thrive in both areas by focusing on outstanding member service. Key takeaways: 2:24 - How member service–proactive, clear communication, and efficient support–can be the bedrock of credit union growth and member loyalty. ...
Jul 15, 2024•24 min•Transcript available on Metacast On this episode, host Vince Passione talks mortgage lending, consumer behaviors, credit-building and financial wellness with Richard Wada, Chief Lending Officer of Patelco Credit Union. Key takeaways: 0:00 - Intro 1:12 - Patelco Credit Union overview 1:59 - The value of diversifying a loan portfolio. 4:35 - Challenges and changes of mortgage books in a high-rate environment 7:56 - How partnerships can help credit unions scale loans outside of traditional lending parameters 10:21 - How Patelco is...
Jul 01, 2024•20 min•Transcript available on Metacast On this episode, host Vince Passione is joined by Jeff Kesler, President Dallas-Ft Worth at Veritex Community Bank, for an exploration of how a financial institution’s values and principles can drive strategic growth—even through the most economically challenging times. Key takeaways: (1:25) How Veritex Community Bank was founded with strong values. (4:55) Veritex’s M&A strategy, and how it changed through the recent Fed cycle. (8:00) How intentionality and a commitment to organization v...
Jun 17, 2024•23 min•Ep 2•Transcript available on Metacast On this episode, host Vince Passione is joined by Dr. Brandi Stankovic , a strategic advisor to credit unions, focusing on risk, growth, profitability and leadership. The no-holds-barred conversation challenges credit union leaders to look internally first, for everything from fintech and innovation to leadership succession and their institutional strategies to achieve long-term financial sustainability. Key takeaways: (1:38) Credit unions don’t have the luxury of ignoring the fintech market, co...
Jun 03, 2024•23 min•Transcript available on Metacast On this episode, host Vince Passione is joined by Shirley Senn , Chief Consulting Officer at CU Strategic Planning, a Callahan company, for a deep-dive into the CDFI program: How it can strengthen credit unions, what's required to achieve and retain a CDFI designation, and how it ultimately benefits credit union members. Key Takeaways: (2:35) The criteria for CDFI designation - for credit unions, banks and VC funds. (5:52) Credit unions can use CDFI Financial Assistance grants to enhance reserve...
May 20, 2024•27 min•Transcript available on Metacast On this episode, host Vince Passione is joined by Tony Boutelle , CEO of Origence (formerly CU Direct). Tony shares insights into the evolution of auto lending and the strategic shifts in the credit union sector. The discussion delves into pioneering work at Origence, touching on the integration of technology and the future of finance in the auto industry. Key Takeaways: (01:32) The early days of fintech and how CU Direct was a disruptor in the auto lending space. (02:13) The strategic advantage...
May 09, 2024•38 min•Transcript available on Metacast On this episode, host Vince Passione is joined by Gary Lewis , Senior Managing Director of Lending and Deposit Solutions at Jack Henry . Gary discusses the impact of AI on the financial services industry and strategies for navigating market cycles. Key Takeaways: (02:15) Having a long-term strategy is crucial for handling market cycles and managing liquidity to fund loan demand. (06:45) Branches still play a role by allowing customers to seamlessly transition between digital and in-person intera...
Apr 22, 2024•43 min•Transcript available on Metacast On this episode, host Vince Passione is joined by Dee Edie, President and CEO of Pine Bluff Cotton Belt Federal Credit Union; Tanya Romero-Sturgeon , President and CEO of Guadalupe Credit Union; and Tyler Valentine , President and CEO of StagePoint Federal Credit Union , for a 3-part series. In this final episode of the series, they talk about using loan participations to mitigate geographic risk, dealing with fraud, collaborating with fintechs and the importance of the human element in financia...
Apr 01, 2024•21 min•Transcript available on Metacast Host Vince Passione is joined by Dee Edie, President and CEO of Pine Bluff Cotton Belt Federal Credit Union; Tanya Romero-Sturgeon , President and CEO of Guadalupe Credit Union; and Tyler Valentine , President and CEO of StagePoint Federal Credit Union for a 3-part series. In this second episode, they look at strategies for working with delinquent borrowers, regulatory considerations around debt restructuring, indirect auto lending programs, and serving immigrant communities through ITIN lending...
Mar 18, 2024•23 min•Ep 16•Transcript available on Metacast Host Vince Passione is joined by Dee Edie, President and CEO of Pine Bluff Cotton Belt Federal Credit Union; Tanya Romero-Sturgeon , President and CEO of Guadalupe Credit Union; and Tyler Valentine , President and CEO of StagePoint Federal Credit Union for a 3-part series. In this first episode, they discuss strategies for dealing with economic challenges. Key Takeaways: (02:12) Collaborative discussions help guide credit union strategy and decision-making. (04:22) Getting creative with new emer...
Mar 05, 2024•25 min•Transcript available on Metacast On this episode, host Vince Passione is joined by Brian Creagh , SVP, Credit Card and Education Lending at Navy Federal Credit Union . Brian talks about serving member needs across their financial lifecycle, education loans, establishing trust with members and growth opportunities. Key Takeaways: (03:07) Serving rising tuition costs. (05:48) Student loan refinancing demand. (06:45) How to prepare members for repayment. (09:03) The importance of focusing on customizing products to members. (14:40...
Feb 19, 2024•31 min•Ep 14•Transcript available on Metacast On the second half of this two-part episode, host Vince Passione is joined by Ronaldo Hardy , President and CEO of NACUSO , to discuss the future of credit unions. Ronaldo talks about how, since the industry will be built on technology, leaders must have tech proficiency. He also emphasizes the need for emotional intelligence in leadership and the benefit of CEOs from diverse backgrounds. Key Takeaways: (1:10) Leaders need tech proficiency. (2:54) Leadership skills such as emotional intelligence...
Feb 06, 2024•19 min•Transcript available on Metacast On this episode, host Vince Passione is joined by Ronaldo Hardy , President and CEO of the National Association of Credit Union Service Organizations ( NACUSO ). Ronaldo talks about the basics of a credit union service organization as well as the benefits for fintech companies in partnering with credit unions through CUSOs. With nearly a decade leading financial institutions, Ronaldo provides insights into how CUSOs operate today and the direction they are moving towards in the future. Key Takea...
Jan 22, 2024•24 min•Transcript available on Metacast On this episode, host Vince Passione is joined by Nick Evens , President and CEO of Curql Collective , to discuss the unique model bringing fintech and credit unions together through strategic investing. Curql takes a unique approach to facilitate collaboration between credit unions and fintech startups. Key Takeaways: (00:34) Curql invests in fintechs on behalf of credit unions. (04:49) Curql helps educate fund managers on credit unions. It keeps fintechs and credit unions connected. (08:...
Jan 08, 2024•27 min•Transcript available on Metacast On this episode, host Vince Passione is joined by Jim Merrill , President and CEO of Inspire Federal Credit Union . With over 30 years in the industry, Jim shares insights on partnerships, funding strategies and predictions for the future of credit unions. Jim provides an insightful look into the industry for credit unions, from transforming services to competing with fintechs. Key Takeaways: (05:26) Criteria for identifying fintech partnerships vs. competitors — seeking synergies that allow mut...
Dec 18, 2023•22 min•Ep 10•Transcript available on Metacast On this episode, host Vince Passione interviews Benson Bolling , Chief Lending Officer of Alabama Credit Union , about the state of lending and current economic trends. Benson provides perspective on lending’s key topics including rising auto loan payments, dropping used car values and increasing consumer budget strain. He talks about commercial real estate concentration risk limits and the uncertainty in retail and office spaces. Benson warns of liquidity challenges as rates rise but sees...
Dec 11, 2023•23 min•Transcript available on Metacast On this episode, Chip Mahan , Chairman and CEO of Live Oak Bank , joins host Vince Passione. He shares his extensive knowledge of the evolution of banking, the impact of technology in the finance sector and the shifts in investment trends. Key Takeaways: (01:23) Chip discusses the inception and mission of Live Oak Bank, focusing on providing exceptional service to niche industries through technology. (09:32) How Canapi leverages relationships to bring unmatched value to companies. (15:55) ...
Nov 27, 2023•28 min•Transcript available on Metacast In this episode, we sit down with Ron Draper , CEO of Somerville Municipal Federal Credit Union , to discuss the evolving dynamics of the financial world. As a leader of a smaller credit union, Ron sheds light on the challenges and the strategies they use to stay competitive, innovative and relevant in today’s rapidly changing financial landscape. Key Takeaways: (04:10) Ron discusses the increasing competition from larger banks and the importance of matching their interest rates to retain custom...
Nov 15, 2023•24 min•Ep 7•Transcript available on Metacast On this episode, host Vince Passione is joined by Matt Harris , Partner at Bain Capital Ventures . Matt provides an insightful look into the evolving world of fintech, sharing his knowledge of new technology waves and the dynamics of the finance industry. From the intricacies of fintech to the expanding influence of generative AI, the conversation touches on a myriad of topics reshaping the landscape of financial services today. Key Takeaways: (03:48) Matt shares his background and how he first ...
Nov 06, 2023•24 min•Transcript available on Metacast On this episode, host Vince Passione is joined by Charles Krawitz , Senior Vice President, Chief Capital Markets Officer and Head of Commercial Lending at Alliant Credit Union , to discuss: - Charles’ journey from the banking industry to credit unions and how it changed his perspective on lending. - Alliant’s focus on commercial real estate loans, including multifamily, student housing and hospitality. - The impact of the refinancing cliff and the potential for commercial-to-residential property...
Oct 24, 2023•21 min•Transcript available on Metacast 
