Corporate Connection is our quarterly e-magazine that features information on our latest happenings and hottest services. If you want an insider look at what’s going on at Vizo Financial, Corporate Connection is a must-read! Check it out now!
First and foremost, I want to say Happy New Year! It is hard to believe we are in 2024 already, but it is exciting to start off another new year. We will soon be looking at our budgets and rate forecasts and wonder what we were thinking back in October/November when we put them all together, but that is what makes working in this industry so much fun!
I’m both thrilled and humbled to be able to write to you for the first time as the new president/CEO of Vizo Financial. It’s an honor to step into this role and be successor for David Brehmer, who I had the pleasure of working alongside for many years. In that time, I’ve seen your Corporate grow successfully from a financial standpoint and continue to remain a trusted partner for all credit unions. We truly appreciate the support over the years and are excited about doing more for our credit unions in the future.
My time in this role is only beginning, but I’m lucky to be leading Vizo Financial, which has built a legacy of service, trust and community impact. Most importantly, we pride ourselves in our professionalism, which is evident in our incredible staff. We have always said the greatest value of your ownership in Vizo Financial is in our people, and many of you already know we have a remarkable team of professionals that are always here, ready to help your credit union succeed.
As we embark on this journey together, I want to assure everyone that my commitment is to continue furthering your success. Believe me, we do not take this responsibility for granted. Our values and mission here at Vizo Financial remain the same, and I know they will continue to steer us toward a bright future filled with continued financial strength, innovation, education and cooperation.
As always, we can’t thank you enough for your ongoing trust and support and for being part of the Vizo Financial family. I look forward to seeing many of you over the next year, and I’m excited to continue working together!
Education, member appreciation, time spent with peers and opportunities for growth are top of mind for Vizo Financial in 2024. We’ve got several occasions for you to take advantage of all these things over the next 12 months. Keep reading to learn what events we’re hosting in 2024!
As a reminder, you can get all the different event details on our Upcoming Events page. You’ll also want to check back throughout the year, as we may add events to this list. Perhaps consider bookmarking the page for easy access!
Now, without further ado…here’s the lineup for 2024:
March 13, 2024 – Hershey, Pa.
March 27, 2024 – Richmond, Va.
April 10, 2024 – Charlotte, N.C.
May 8, 2024 – Pittsburgh, Pa.
April 24-25, 2024
The Hotel Hershey – Hershey, Pa.
March 20, 2024
June 19, 2024
September 18, 2024
December 11, 2024
June 18, 2024
August 6-7, 2024
September 11-13, 2024
The Omni Grove Park Inn – Asheville, N.C.
November 5-6, 2024
Rewards? Yes, please!
You may have heard the big news by now…in December, Vizo Financial gave back more than $3.8 million to capital members. And in addition to this giveback, which included a service usage credit and a higher rate on the Perpetual Contributed Capital (PCC) account, Vizo Financial also introduced the new Member Incentive Credit (MIC) program!
This rewards program is meant for credit unions that support the Corporate through capital investments and usage of our services. We consider it a MIC-dropping token of our appreciation for the many years of partnership and cooperation our capital members have shown us, and we hope you will too.
Now, let’s get to the details – how does the MIC program work? Well, the rewards come back to credit unions in the form of an additional dividend, which is based on how many products and services the credit union uses with the Corporate and its payments CUSO, MY CU Services.
Each year, based on our financial performance and with board approval, Vizo Financial will distribute a portion of earnings to each member based on their usage of key services such as ACH, official checks, electronic bill payment, domestic wires, member share drafts, image capture and safekeeping. The more key services used, the larger the dividend.
And, as always, THANK YOU for being members of the Corporate. You’re the reason we exist and the “why” behind our mission! Now, how’s that for a MIC-drop moment?
Step aside, Taylor Swift. At Vizo Financial, we’re all about the instant payments era!
We’ve gone from fast payments, with ACH and debit/credit cards, to even faster payments, with things like P2P apps. But now, we’re entering an era that tops them all, with instant payments thanks to the newest rail, the FedNow® Service.
The FedNow® Service rail works by initiating and settling payments within seconds through a technology-driven, back-end process. It’s run through the Federal Reserve to provide safe and efficient instant payment services 24 hours a day, seven days a week, 365 days a year. That means both your business and individual members now have the opportunity to handle transactions instantaneously so that they go from sender to recipient in near real-time, making it, quite literally, a Timeless gift in the payments arena.
When it comes to accessing instant payments, you don’t have to look far. In fact, your connection to the FedNow Service is right here…through Vizo Financial and MY CU Services! We’re certified to offer settlement for FedNow Service instant payments, as well as receiving capabilities through our payments service provider. As a correspondent, we can provide your credit union with a direct connection point to instant payments through the FedNow Service.
If you’re looking for a way to settle instant payment transactions, our settlement services are the perfect fit. Here’s how they work and the advantages of working with Vizo Financial/MY CU Services:
This connectivity profile allows your credit union to receive instant payments from members. It’s a quick, multistep process that goes a little something like this:
From individual transactions such as P2P and A2A, to business transactions like B2B and B2C, there are so many payment options available through the FedNow Service that will benefit from the convenience of instant processing. So convenient, in fact, that it’ll give both you and your members a Gold Rush of satisfaction.
The evolution of payments has seen a lot of wonderful innovations, but nothing is quite as intriguing and promising as instant payments. It really is the payment solution of our Wildest Dreams, and we want you to be part of this industry-changing journey.
So, credit unions, consider this your official welcome to the era of instant payments. NOW is the time to take your place in this revolutionary time and build your Reputation as a leader in modern payments.
The new year is a time of new adventures, new beginnings and big changes. Perhaps one of those new and big changes is a core processing system for your credit union.
If that’s true, how would you feel about a core that has all of the following…
Does that sound like the new, exciting core solution you’re looking for in the new year? Then the CU*BASE system through CUaxis – the cooperative core community built on the partnership of Vizo Financial, MY CU Services and CU*Answers – might just be for you.
And if you need more convincing, consider these things about our core:
If you want to pursue a new core solution in the new year, look no further than CU*BASE through CUaxis! For more information, please contact your corporate account manager at email@example.com.
When it comes to credit union security, where does your institution stand on multifactor authentication (MFA)? Have you implemented it? Are you looking into utilizing it? Are you still on the fence?
Regardless of your answers to these questions, the case for MFA is loud and clear: in a world where security is always at risk, more protection doesn’t hurt!
MFA is an additional layer of protection that requires users to have at least two factors of authentication to sign into their accounts — both personal and business. These methods are typically broken down into three factors:
With MFA, users can decide what factors to use when accessing their accounts. For example, they can choose to use a PIN and a security question even though both fall into the something you know factor. On the other hand, 2FA, or two factor authentication, requires users to use two different factors. This authentication typically uses the something you know and something you have factors to allow users to access their accounts. 2FA is a more secure form of MFA, but both MFA and 2FA further protect users’ accounts – banking, personal email, professional email, other professional systems, etc. — from bad actors looking to gain access.
You’ve probably used MFA before and may not have even realized it. When you swipe your debit card to purchase items or retrieve money from your ATM, the card is something you have and the PIN is something you know. And companies like Yahoo and Google have implemented 2FA as an option for their users to increase their account security. So, if you have a Yahoo or Google account, 2FA is already available to you as an option. Since it is already in use in most instances, there’s a case to be made here on why it’s important for credit unions to implement MFA or 2FA methods for employees to access credit union systems like core and email and for members to access their online banking. Consider these factors when determining whether or not MFA or 2FA should be a change your credit union implements:
The truth of the matter is financial institutions are a target for bad actors because of the information that they hold. Without MFA or 2FA, your financial institution’s system security is only as strong as your weakest password. With these things in mind, perhaps MFA and 2FA present a case worth considering.
Vizo Financial continues to make a positive difference in our local communities, and we were proud to have participated in some wonderful events over the past year. As we head into 2024 and continue to move forward with our community efforts, let's first take a look back at how we reached our local, as well as national and international, communities in 2023!
Get even more details on our 2023 community efforts from our press release, “Vizo Financial Reaches Local, National and International Communities in 2023,” which you can find on the Press Releases page of our website.
Vizo Financial’s education sessions for the first quarter of 2024 are:
Andi Crockett, product manager, EFT, Vizo Financial/MY CU Services
January 17 at 2:00 p.m. ET
It’s that time of year again…time to review the upcoming rule changes for ACH. Nacha Operating Rules need to be followed by all financial institutions that process ACH transactions. This webinar will provide the details your credit union needs to stay informed on the ACH payment requirements and remain in compliance with all the changes throughout 2024. Join Andi as she reviews current and upcoming Nacha Rules.
Cindy Hagan, VP, compliance and fraud risk, Vizo Financial
January 24 at 10:00 a.m. ET
The NCUA requires Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) training each year for credit union personnel. Fulfill this requirement by attending this webinar on the basics of BSA/AML. The cost for this session is $79.00 per registered attendee.
Kari Kronberg AAP, NCP, director of education, Macha/PAR
January 30 at 10:00 a.m. ET
Dealing with the big three of check issues – forgeries, alterations and counterfeit checks – are some of the most challenging situations a financial institution can encounter. These issues have a very narrow return window and no adjustment options. Does your financial institution understand your obligations and options when it comes to handling these complicated situations?
Mike Bechtel, information security engineer, Vizo Financial
February 13 at 10:00 a.m. ET
Bad news…there’s been a business email compromise at your credit union. In addition, one employee is reporting that they received a pop-up message about viruses on their computer and your CEO clicked an email link that, in hindsight, seems suspicious. No doubt about it, it’s a bad day for security at your credit union. But there’s no time to dwell on the negatives – it’s time to take action.
When these scary security situations arise, you have to have a plan of attack…or, rather, counterattack. That’s what this session, led by information security engineer, Mike Bechtel, is all about. Let’s analyze the steps you can take to address a variety of security issues that may befall your credit union.
Mike Smith, VP – senior business services officer, CU Business Group, LLC
February 27 at 10:00 a.m. ET
A business relationship with your credit union begins at account opening. In this session, we’ll discuss business entity types and the required documentation to open and maintain business accounts. We will also cover the importance of the Certificate of Beneficial Ownership, pertinent regulations for financial institutions and the types of information that are required to be collected. In addition, we will review the value of a business profile and how your credit union can utilize this information for sales opportunities.
Andi Crockett, product manager, EFT, Vizo Financial/MY CU Services
Tarah Sweigart, payments risk analyst, Vizo Financial
March 21 at 10:00 a.m. ET
There are quite a few rails that payments can travel on these days — ACH, checks, cards, wires, real-time payments and the newly created FedNow® Service rail. With your members utilizing multiple rails every day, it can be difficult to remember the processes, timelines, rules and regulations for each. Join Tarah Sweigart and Andi Crockett for this webinar to take a ride on the rails that include international wire transfers. From the operations side to the rules and regulations, Andi and Tarah are going to be your tour guides as they help you rediscover the world of international wire transfers.
Vizo Financial will be hosting the following events for credit unions. Please register for any of our events on the Upcoming Events page of our website.
March 13, 2024 - Hershey, Pa.
March 27, 2024 - Richmond, Va.
April 10, 2024 - Charlotte, N.C
May 8, 2024 - Pittsburgh, Pa.
Some may think that credit union finance is just about crunching numbers, moving assets and a bunch of other monotonous tasks – but you know better. Of course, it’s about all those things, but it’s also about playing the game – the very intricate and interrelated tug-of-war involving interest rates, market trends, economic performance and many other contributing factors. And that game, above all else, requires good strategy to keep your credit union well-positioned for success.
Vizo Financial’s 2024 Financial Strategies Workshops are back to give your credit union those strategies to manage your financials and stay ahead of the game. Each one-day event will provide engaging and informative content, brought to you by our very own financial experts, to empower you with essential financial strategies that go beyond the basics. Join us to learn about all the things that influence your financials and receive practical insights to help you achieve your financial goals.
With sessions on current economic trends to the latest investment options – complete with CPE credits – this isn’t just an educational opportunity, but an experience that will enhance your expertise and give you the tools you need to handle the complexities of credit union finance!
March 20, 2024 - Virtual
*More dates available
Did you know there are approximately 11,651 financial technology startups throughout the United States, with many ranging all the way from person-to-person (P2P) and wealth management apps to stock trading and e-commerce sites? That’s according to a 2023 study conducted by Statista.
With the ability to deeply understand the ins and outs of both the financial and technology industries, these fintechs are positioned to grow even more in the coming years. In fact, they’re already profoundly reshaping financial services through innovation, member-centric value propositions, collaborative business models and so much more! That then begs the question: How many of these fintechs has your credit union looked at – 20, 10, even five? And moreover, how is your credit union embracing this evolving service landscape?
If you’re not sure how to answer either of those questions, that’s okay. We’ve got you covered! Vizo Financial is here to serve as your link to these fintechs.
During each 30-minute quarterly Tech Talk, we will showcase a few fintechs that we believe may bring benefits to your institution. We highly recommend that you use these 30 minutes to seek out the technology and innovation that may help revolutionize how you serve your members. And you never know, one of these may end up holding the key to innovation for your credit union because if your credit union isn’t already looking at fintechs, then you could be falling behind.
Your members are expecting the latest modern solutions, after all, so make sure you’re prepared to provide them by joining us for Vizo Financial’s 2024 Quarterly Tech Talks!
April 24-25, 2024 - The Hotel Hershey – Hershey, Pa.
In the world of credit unions, where financial services meet the unpredictable, a delicate dance between light and dark ensues. In the midst of the shadows, risk management serves as the guiding light, illuminating the path through potential scams, unexpected disasters, fraud schemes and more. To dispel the darkness of unforeseen risks, credit unions must shine a light on new and emerging risk management tools and practices. At Vizo Financial’s Risk Management Conference on April 24-25, 2024, that’s exactly what we’ll be doing to help your institution outshine the shadows of uncertainty.
Be prepared for education sessions on cyberscams and the dark web, the challenges of real-time payment fraud, the role of AI in finance and payments, the building blocks of enterprise risk management…and then some. And to make this event even more vivid and exciting, attendees will receive all of these perks:
Will you join us for this eye-opening educational event and illuminate your view of the newest trends and best practices in credit union risk management? We certainly hope so…let’s light it up!
Vizo Financial is gearing up to hit the road again in 2024! But before we tell you where we’re heading, let’s do a little recap of where you may have spotted us in the fourth quarter of 2023. Remember, if you spot us, make sure you tag us on social media using hashtag #VizoFinancialOnTheRoad.
Robyn Cooper, corporate account manager, and Ashley Aubele, core solutions account manager, attended APEX 2023 in Uncasville, Conn., on October 11-13, 2023. The event was hosted by the Cooperative Credit Union Association and the Credit Union League of Connecticut. Our reps sure did enjoy the social media vending machine and were also pleased to present our gift basket to Brian Therrien of Holy Rosary CU (HRCU), New Hampshire. Congrats, Brian!
Corporate account manager, Jill Bennett, attended the Northwest Chapter Bingo With A Cause event in Winston Salem, N.C., on October 12, 2023. The event benefited the Clemmons Food Pantry in Clemmons, N.C.
Joe Reiner, corporate account manager and part-time disc jockey, attended and acted as the DJ for the Baltimore Chapter’s Bull, Oyster & Shrimp Feast in Baltimore, Md., on October 13, 2023. The event supported Children’s Miracle Network (CMN) Hospitals and the CU Foundation of MD|DC.
Jaime Agostino, VP of sales, marketing and education, and Cindy Hagan, VP of compliance and fraud risk, attended Penlanco Federal Credit Union’s fourth annual Designer Purse Bingo event on October 14, 2023, in Lancaster, Pa. In addition to attending, Jaime donated homemade cookies for the event, which raised money for the Power Packs Project, an organization that provides nutritious weekend meals to food-insecure children.
On October 23-25, 2023, corporate account managers, Ty Snavely and Robyn Cooper, attended the CrossState Credit Union Association’s CU Reality Check. The event was held at the Borgata Hotel in Atlantic City, N.J. Trish Shermot from Visions Federal Credit Union was the winner of our gift basket…congratulations again, Trish!
On November 2, 2023, Andi Crockett, product manager, EFT, and Jaime Agostino, VP of sales, marketing and education, attended an event held by Northeast Regional Group of Corelation, Inc. At the event, Andi spoke to attendees about the FedNow® Service and instant payments.
Corporate account manager, Joe Reiner, and VP of sales, marketing and education, Jaime Agostino, enjoyed an evening of good food, good company and a good feeling of giving back at the Baltimore Chapter’s Dinner and Food Drive in Hunt Valley, Md., in November. Shout out to Mary Burrs from Baltimore County Employees Federal Credit Union for winning our door prize gift basket. We hope you enjoyed it!
On October 6, 2023, corporate account manager, Ty Snavely, teed up for the NET FCU Annual Charity Golf Tournament at the Blue Ridge Golf Course in Scranton, Pa. All proceeds from the tournament were donated to Camp Freedom, an adventure camp for disabled veterans and first responders, as well as their families, and Gold Star families. The camp provides opportunities for lots of outdoor activities, including hunting, fishing, hiking, etc. Vizo Financial also acted a hole sponsor for the event.
Jaime Agostino, VP of sales, marketing and education, and her guest, Amey Sgrignoli, president/CEO of Belco Community CU (Harrisburg, Pa.) attended the Capital Affair Gala at The Watergate Hotel in Washington, D.C., on November 9, 2023. A Capital Affair brings the credit union industry together for an elegant evening of mixing and mingling at a venue unique to the nation's capital. The event is one of the region's main fundraisers for CMN Hospitals, along with the Credit Union Cherry Blossom Ten Mile Run. Vizo Financial acted as the gift sponsor for the event.
Vizo Financial’s new president/CEO, Fred Eisel, and VP of sales, marketing and education, Jaime Agostino, enjoyed a few days in Key West, Fla., during the CrossState Credit Union Association’s CEO Summit from November 28 – December 1, 2023.
Corporate account manager, Joe Reiner, attended the virtual Suburban Chapter’s Virtual Holiday Celebration on December 19. The group may have been on Zoom, but they had a great time gathering for this holiday event.
January 23, 2024 in Columbia, S.C.
Who to Look For: Scott Wood
January 29, 2024 in Pittsburgh, Pa.
Who to Look For: Fred Eisel, Lori Gall, Rodney May, Jeff Stoner, Jaime Agostino, Steve Houser and Ashley Aubele
January 30, 2024, Virtual
Who to Look For: Jaime Agostino
February 7-8, 2024 in Concord, N.C.
Who to Look For: Jill Bennett & Robyn Cooper
March 3-7, 2024 in Washington, D.C.
Who to Look For: Jaime Agostino, Robyn Cooper, Joe Reiner & Ty Snavely
April 15-18, 2024 in Orlando, Fla.
Who to Look For: Jaime Agostino & Andi Crockett
April 22-24, 2024 in Columbus, Ohio
Who to Look For: Jaime Agostino & Steve Houser
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