Tyfone

What can U.S. credit unions learn from Ireland?

Ireland’s credit unions are facing a familiar challenge: strong member trust, but growing pressure from digital competitors like Revolut.

In this new op-ed, Josh Herman of CU WealthNext looks at what Ireland’s experience with consolidation, shared technology and changing member expectations could mean for U.S. credit unions — especially when it comes to winning the next generation.

The threat may not be on this year’s balance sheet. It may be in where young people open their first account.
https://bit.ly/4ztbQrn

OCCU is selling its headquarters to Costco — but it’s not leaving yet.

The $3.5 billion Oregon credit union says it has signed a nonbinding letter of intent to sell its 53,000-square-foot Eugene headquarters property to Costco, which wants the site to support its neighboring warehouse.

OCCU says it uses only about 40% of the building after shifting much of its workforce to remote work in 2020. The credit union plans to remain at the property for a multiyear transition while it determines what its next workplace should look like.

The proposed deal offers a glimpse at how remote work, technology and changing workplace needs are reshaping even large financial institutions.

Read the story:
https://bit.ly/4xaSoOH

Credit unions could get more room to invest.

A new bipartisan House bill from Reps. Janelle Bynum and Young Kim would give federally chartered credit unions more flexibility to invest in corporate bonds and asset-backed securities — with a 10% cap on investments in any single issuer.

Supporters say the changes could help credit unions diversify, strengthen their balance sheets and offer more competitive rates and loan products to members.

With more than 144 million Americans belonging to credit unions, the proposal could have a broad impact if Congress moves it forward.

Read the full story: What would greater investment flexibility mean for credit unions and their members?
https://bit.ly/4zoc8j4

Tracey Miller, Senior Vice President and VP of Operations at Pioneer Federal Credit Union, said the institution has partnered with Tyfone for more than three years and uses many of its products including nFinia.

She said Tyfone’s openness and willingness to listen to ideas has made problem solving much easier. Miller said that having strong relationships with vendors is crucial for Pioneer, and she has no problem recommending Tyfone to the credit union’s peers.
https://bit.ly/3WE0Y7V

Are credit unions being used as political pawns?

In a new op-ed, Jason Stverak, chief advocacy officer at the Defense Credit Union Council, argues that the fight over the Marshall-Durbin interchange bill risks turning credit unions and their members into collateral damage in a broader Washington dispute over digital-asset legislation.

Stverak examines the potential impact on interchange revenue, fraud prevention, member benefits and — particularly — military families who rely on secure payment systems.

His argument is straightforward: If Congress believes Marshall-Durbin is sound policy, lawmakers should debate it on the evidence — not use it as leverage in an unrelated political fight.

Read the full op-ed.
https://bit.ly/3RUp4wx

Ohio regulators have cleared a major hurdle for Interra Credit Union’s proposed acquisition of Hicksville Bank.

The Ohio Division of Financial Institutions said it found no basis to consider the deal unsafe or unsound — though final approval is still pending.

The decision comes amid a broader fight over credit unions acquiring banks, with the Ohio Bankers League vowing to challenge the transaction.

Read the full story for what the ruling means for Interra, Hicksville and the growing debate over credit union-bank deals.
https://bit.ly/4xzSIpQ

👟 What’s the story behind Tyfone’s iconic red shoes?

It started with a seven-minute presentation, a pair of red Air Jordans and a simple goal: stand out.

Today, the red Converse Chucks have become a symbol of the — representing unity, humility, teamwork and a little fun along the way.

But how did a pair of shoes become such a recognizable part of Tyfone’s identity?

Read the story behind the red shoes. 👇
https://bit.ly/4zeMDRm

Credit unions are embracing AI — but not without guardrails.

At the NASCUS State System Summit in Philadelphia, credit union executives and regulators offered a measured view of AI adoption: use the technology to make employees more efficient, but don't lose sight of the risks.

At $92.7 million-asset Upward Credit Union, Microsoft Copilot is being used by managers and select employees for tasks such as reviewing policies and drafting communications. CEO Jason Mertz-Prickett said the goal isn't to eliminate jobs, but to give employees more time to work directly with members.

Upward also established an AI policy before it even began using tools like Copilot and ChatGPT — including a ban on putting proprietary or nonpublic information into AI platforms and requiring senior review of member-facing content.

For regulators, the message was equally clear: the more consequential the use of AI, the stronger the governance needs to be.

As Georgia regulator Melissa Sneed put it: “You can't outsource your risk.”

Read the full story on how credit unions are trying to balance AI's potential with the responsibility that comes with using it.
https://bit.ly/45ZdQdn