4Q19 Data, Swing Space Lessons, Organizational Compliance

Five can't-miss data points this week on CreditUnions.com.

This week, CreditUnions.com identifies takeaways from fourth quarter data, shares lessons from a three-year swing space journey, learns how one credit union spreads compliance management across the organization, and more.

Here are five can’t-miss data points:

$158.2 Billion

Callahan & Associates hosted its quarterly Trendwatch webinar on Thursday, detailing fourth quarter and full year 2019 industry trends. As Callahan officially releases its last call report data set of the decade, Trendwatch recaps the past 10 years to reflect on the cooperative model and its importance in the financial world in the decade following the Great Recession. Of note: loan production at credit unions nationwide reached $158.2 billion, the largest three-month loan origination volume on record. Here are additional takeaways from the event:

Read: 3 Takeaways From Trendwatch 4Q 2019

3 Years

Greater Texas FCU has operated from the same headquarters building since the 1980s. In the past three decades, the credit union has had a good run of growth. But as the twenty-tens drew to a close, the credit union had to face facts: Greater Texas had outgrown its headquarters. For a time, the credit union simply made room. Employees worked in traditional offices and cubicles as well as in meeting rooms. That approached addressed the immediate need; however, the Texas cooperative knew it needed a long-term solution. So in early 2018, 13 Greater Texas executives moved into a swing space. When the credit union’s new headquarters building is completed in 2021, they’ll have worked in a temporary office for three years.

Read: 3 Years In Swing: Lessons From Life In A Temporary Office


Seth Schaefer became president and CEO of Rivermark Community Credit Union in July 2018, culminating a journey at the Portland cooperative that began with his hiring as a webmaster in 2003. That trajectory, which took him through successive marketing and member experience positions, reflects the movement’s move toward recognizing the importance of digital prowess along with financial expertise in both personnel and products. Schaefer says he is seeing more peers emerge at the top of the organizational chart from non-finance positions, bringing with them new perspectives on how to ensure an ideal member experience. And, he emphasizes that such a priority is now more important than ever.

Read: Seth Schaefer On Leadership

280 Companies

The Research Triangle region in North Carolina is anchored by three large research universities: Duke, North Carolina State, and the University of North Carolina at Chapel Hill. It’s also home to an abundance of technology and data companies, some 280 of which are headquartered in Raleigh’s Research Triangle Park, the largest research park in the United States. For recent graduates or those looking for work in technology or business intelligence, the Triangle is flush with opportunity. For those looking to fill an open technology or business intelligence position, the competition can prove challenging. Many different companies, regardless of industry, today have technology or data divisions. Local Government Federal Credit Union, for example, employs nearly 200 full-time North Carolinians currently seven in its BI department. In her role as the vice president of business analytics at LGFCU, Alicia Daugherty has learned how to hire and retain talent in a region where the Lenovo’s and Cisco’s rule.

Read: Hire For Culture. Train For Technical Skill.


Every month, a group of senior leaders at WSECU gather to review their organization’s appetite for risk, renew its focus on member protection, and break down silos that block the view of how compliance concerns are playing out across the enterprise. WSECU created its consumer protection compliance committee in early 2014 in the wake of new Dodd-Frank mortgage rules and state examinations.

Read: Rules, Regulations, And Relationships: How WSECU Spreads Compliance Management Across The Enterprise

Happy Reading!

February 18, 2020

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