|Peter Alvarez, emerging markets manager for Redstone FCU, Huntsville, Ala., and Laura Castro de Cortes, vice president of alternative financial services for Centris FCU, Omaha, Neb., discussed their success in serving the underserved Wednesday at BAI's Retail Delivery Conference in Denver.|
Credit unions had a presence at the BAI Retail Delivery Conference, which met in Denver this week, both as participating panelists and attendees.
A panel on serving the underserved featured Peter Alvarez, emerging markets manager for Redstone FCU, a $3.5 billion asset credit union based in Huntsville, Ala., and Laura Castro de Cortes, vice president of alternative financial services for $512 million asset Centris FCU, Omaha, Neb.
"About 40% of the households in the Huntsville, Alabama, area are either unbanked or underbanked," Alvarez told those attending the session.
Redstone FCU created Right Choice Money Services outlets to serve primarily Hispanics in the Huntsville area., said Alvarez. "We're a credit union," he said. "Our mandate is to serve people of modest means."
|Celent Senior Analyst Bob Meara (left) presented research on consumers' use of branches at BAI's Retail Delivery Conference Wednesday. Steve Kubala, senior vice president and chief operating officer of University FCU in Austin, Texas, discussed his credit union's innovative self-service model blending technology, culture, and organizational change.|
In a session on consumers' use of branches, Bob Meara, senior analyst with Celent, presented research on the topic. Celent is a research and advisory firm that helps financial institutions with business and technology strategies.
Also in that session, Steve Kubala, senior vice president and chief operating officer of the $1.64 billion University FCU in Austin, Texas, talked about his credit union's innovative self-service model that blends technology, culture, and organizational change. In its first six months, the initiative saved more than $400,000 per branch in annual operating costs and more than doubled sales productivity, he said.
The credit union was named a Celent Model Financial Institution in 2013.
|Belinda Caillouet (right), chair of the CUNA Technology Council and vice president of IT for Spokane (Wash.) Teachers CU, presents the council's Best of Show Award to Mitek--a mobile banking imaging software innovator. Accepting the award at BAI's Retail Delivery Conference is Keith Gray, vice president of sales for Mitek. Looking on is BAI CEO Debbie Bianucci.|
Also at the conference, CUNA Technology Council presented its Best of Show Award to Mitek, a mobile banking imaging software provider.
Earlier this fall, Mitek introduced a mobile photo account opening product that captures a picture on the front and back of a driver's license and the validated data is automatically populated into an application to open an account (News Now Sept. 11).
Other activities during the conference included:
Peter Sheahan, author of FL!P and Generation Y, told BAI's conference that
brands should promise to solve problems. (Photos provided by CUNA)
Steve Chen, co-founder of video sharing website YouTube, which has more than 6.3 million followers on Google +, who discussed theories of innovation in a panel session with Brian Wong, co-founder and CEO of Kiip!, a mobile rewards network. "Every minute, 18 hours of content are uploaded to YouTube," Chen told attendees during the session, which was moderated by Sheahan.
The conference ended Thursday.