Mike Farrell

New blog post: CECL implementation is creating new norms for banks and credit unions. Learn which model inputs your financial institution should be evaluating to ensure you're maintaining a proactive approach to CECL. Read today: https://lnkd.in/eSHWeF-t Thanks to Zach Englert for sharing! Empyrean Solutions

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Credit unions have expanded to be a significant buyer of banks. As Banking Dive denotes here, it is the 11th such purchase this year. What does this mean to you, your job, your career, your company? 🔸 The speed with which banks will consolidate is accelerated by providing additional buyers? 🔸 The value of banks, especially community banks have gone up? 🔸 If your job is in a key area that credit unions need to grow their talent polls in (like commercial lending?) your potential opportunities increased? 🔸 How will credit unions maintain their nonprofit and member orientation? Are you in the right place? Do you have the right talent to succeed? #mergersacquisitionsdivestitures #mergersandacquistions #mergers #bankingindustry #banking #banks #creditunions #creditunion #career #careerplan #jobsearch #jobgrowth #growth #businessbanking #commerciallending

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At LoanBud, we understand how crucial quick access to funds is for your business. That's why we offer SBA FastTrack™️ loans that close in as little as 14 days. No more waiting weeks or months for the financing you need. With our streamlined process, you can have the funds in your hands quickly, enabling you to focus on growing and scaling your business. Whether you need to purchase equipment, expand operations, or manage cash flow, our fast SBA loans are designed to meet your needs efficiently and effectively. Want to learn more? Visit: https://lnkd.in/gJWevask #sba #sbaloan #businessloan #businesssuccess #businessfinancing #business

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At 2:00 pm ET/ 11: 00 am PT, Lynn Tarantino, CRCM, CAMS Tarantino will moderate the session, “Preparing for Large Bank Status – A Roadmap for Compliance” at the Risk and Compliance Conference hosted by the American Bankers Association. #ABARCC #CenlarIsSubservicing #cenlar #cenlarfsb #riskandcompliance

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If you’re operating an ACH integration, you’ll sometimes receive return requests beyond the allowed window. NACHA rules for late return requests require that you provide the receiving institution with evidence that the debit was authorized by the account holder. At scale, this process can be manual and toilsome. Luckily, we’ve built an API for responding to these requests that can automate this workflow. Learn more at: https://lnkd.in/gEpn23sn 

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Credit Union branch growth. The sub header brings up a good point, how will the spate of bank/branch acquisitions impact this growth? In Q1 into Q2 we saw a lot of announcements. I've actually seen quite a few in my local area. However, the overall growth has slowed. Is this because of a slowdown in overall growth, or a tough building environment during supply chain issues in the pandemic, or digital offerings being used to expand instead of traditional branches? "Credit unions expanded their branch footprint from December to March, but it was the smallest quarterly gain in more than a year." "NCUA data showed credit unions had 21,928 branches and other locations as of March 31, 146 more locations than a year earlier and 17 more since Dec. 31." "Credit unions lost 449 branches from December 2019 to December 2020 during the height of the COVID-19 pandemic, and since then have gained 362 branches." #creditunions #branches #growth #lending #deposits https://lnkd.in/gV2ixbud

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ACH processing is distinct from card processing in many ways and often misunderstood by card processing professionals. ACH processing can be lucrative and beneficial for many merchant types, but it's important to understand how it differs from credit card processing. In part, because ACH processing is not as well understood, the pricing disparity for ACH is many times greater than it is for credit card processing. Check out my short The Green Sheet regarding ACH processing. Thoughts and comments welcomed. https://lnkd.in/gGkMXjjc

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Digital banking does not reign supreme for all services.

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As embedded finance continues to be a strategy for credit unions' member growth, credit unions should keep an eye on these emerging trends: https://loom.ly/T0OcDRw Union Credit #creditunions #membergrowth #embeddedfinance

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💡 Great breakdown from John Meyer for CUES CU Management Magazine on how credit unions can beef up their digital account opening process to better compete with digital banks. "Certainly, a credit union must verify that the person applying is an upstanding human and that the person behind the screen is that same human. The great news? There is technology that can do that task for you. Use technology like Alloy or some other tool to help prove a potential member is who they say they are. In doing so, your CU will avoid asking the many questions that digital-first institutions don’t pose up front to potential customers." https://lnkd.in/eB8Qh4yA

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For more than a decade, the popularity of ACH transactions has been on the rise. 📈 In 2023, the ACH Network handled 31.5 billion payments valued at $80.1 trillion 💰– and of those, Early Warning® helped manage the risk of 2.1B payments. As usual, criminals are paying close attention to banking trends, and they continue to devise new #fraud schemes that target ACH transactions. In response to rising ACH fraud threats, Nacha, is proposing a series of updates to its rules and regulations.💡Check out our latest blog to learn how the new rules will impact your financial institution!

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💰 Moov saved a lender a million dollars a year, but that's not the reason they love working with us. Accessing a new kind of infrastructure that's flexible and capable of enabling immediate and multi-party disbursements is paramount to their business. 💡 Here's how they're changing the model of what lenders can accomplish. 👇

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A 47% increase in Same Day ACH volume helped lead the way as the ACH Network began 2024 by handling 8.2 billion payments in the first quarter. There were 273.7 million Same Day ACH payments in the first quarter. The value of those payments was $719 billion, up 27.2% from a year earlier. Same Day ACH volume in March 2024 was 95.6 million, averaging more than 4.5 million payments per day, both all-time monthly highs since Same Day ACH launched. Business-to-business (B2B) payment growth remained strong, with 1.7 billion payments in the first quarter, a 10.8% increase. Total first quarter ACH Network volume was 8.2 billion payments valued at $20.7 trillion, respective gains of 5.6% and 5%. #ACH #SameDayACH #FedACH #NACHA #ACHNetwork #CHIPS #RTP #FedNow #Payments #InstantPayments #RealTimePayments #Zelle #ChinnapaReddy #Banking #Innovation #Fintech #BillPay #B2B #FasterPayments #B2BPayments #SWIFT #NEFT #RTGS #FedWire #LYNX #CHAPS

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Today at 2pm EST: CFPB 1033 and Open Banking: Opportunities and Challenges for Banks Explore the potential of CFPB 1033 for open banking initiatives within your bank. You’ll learn how to leverage data sharing to enhance customer experiences, create new product offerings and navigate potential competition from fintech players. Also, discover the challenges and opportunities presented by the rule and develop strategies to capitalize on this evolving landscape. Register now:

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SimpliCD makes it easy to turn your excess liquidity into a high yielding certificate of deposit portfolio. With SimpliCD, your credit union can: ✔️Purchase multiple CDs in a single transaction with no fees ✔️Eliminate the need for multiple wire transfers - Corporate Central makes the transfers for you ✔️Receive one consolidated interest payment to your Corporate Central account Contact QuantyPhi to learn more about SimpliCD: https://lnkd.in/gUcynyxN #CorporateCentral #QuantyPhi #CUInvestments

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SimpliCD makes it easy to turn your excess liquidity into a high yielding certificate of deposit portfolio. With SimpliCD, your credit union can: ✔️Purchase multiple CDs in a single transaction with no fees ✔️Eliminate the need for multiple wire transfers - Corporate Central makes the transfers for you ✔️Receive one consolidated interest payment to your Corporate Central account Contact QuantyPhi to learn more about SimpliCD: https://lnkd.in/gUcynyxN #CorporateCentral #QuantyPhi #CUInvestments

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In light of NEACH Payments Group's insightful 2023 ACH Audit Findings, it's evident that equipping staff with proper ACH training is pivotal in preventing costly errors. This is where NEACH can help! NEACH U, our cutting-edge educational platform, offers comprehensive training programs curated by certified experts to equip you with the expertise needed to navigate challenges and seize opportunities in the evolving payments industry. Don't miss out on the latest insights from the 2023 ACH Audit Findings and discover how NEACH can empower you to excel in the payments realm. www.neachu.com.

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