Credit Union Exam Solutions Presents With Flying Colors

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.A Conversation with Brian Knight of NASCUS  00:00 Introduction 00:41 Reflections on NASCUS and Credit Unions in 202301:05 NASCUS Initiatives and Achievements in 202301:59 Discussion on Anti-Financial Crimes and Cybersecurity03:32 Legal Roundtable and Litigation in the Financial Services Sector04:26 NASCUS's Regular Operations and Achievements05:43 Training and Education Initiatives by NASCUS06:26 Looking Ahead: Challenges and Opportunities in 202406:53 Discussion on AI and Fraud in the Financial Sector15:12 Implications of Mergers in the Credit Union System17:15 Changes at the NCuA Board and Potential Impacts27:29 Looking Forward: NASCUS's Agenda for 202439:20 Closing Remarks and Future 

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.Introducing the Credit Union Regulatory Guidance PodcastIn this episode of 'With Flying Colors', host Mark Treichel announces a new podcast titled 'Credit Union Regulatory Guidance'. Sponsored by Credit Union Exam Solutions, this new program will primarily focus on educational content presented in an audiobook-style format, explaining new regulatory directives from the National Credit Union Administration (NCUA), FDIC, OCC, FFIEC, and the CFPB. The aim of the podcast is to ensure credit union leaders understand crucial guidance often cited in NCUA exam reports. The host of this new podcast, Samantha Shares, is introduced. Samantha, who is an AI voice, outlines plans to release two episodes weekly and gives a sneak peek into topics like contingency funding and commercial real estate concentrations, among others.00:35 Introduction and New Year Wishes00:40 Introduction to the New Podcast: Credit Union Regulatory Guidance01:16 Purpose and Focus of the New Podcast02:42 Invitation to Subscribe to the New Podcast03:01 Introduction of the New Podcast Host: Samantha Shares03:12 Discussion on the Upcoming Episodes of the New Podcast04:32 Conclusion and Final Remarks

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.What topics would you like to cover in 2024?Who Should We Interview?Let us know at info@marktreichel.comorhttps://www.linkedin.com/in/mark-treichel/

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.In this episode, Mark Treichel summarizes the major developments at the NCUA and provided his insights on how Tanya Otsuka's appointment may influence the NCUA moving forward. Mark discusses the important role of the 'overhire' power within NCUA and how it could be used in 2024. He anticipates an increased focus on climate change issues and consumer compliance from the board, with the potential for larger budget allocations in these areas. Furthermore, Mark expects Tanya and Chairman Todd Harper to work closely together,  shifting the dynamics and future focus of the NCUA board.00:35 Introduction and Year-End Recap01:01 New Board Member at NCUA01:37 Potential Influence of New Board Member on NCUA02:33 Predictions for NCUA's Budget and Priorities03:54 Expectations for Consumer Compliance and Overdraft Policies06:03 Budget Adjustments and Overhiring in NCUA08:08 Chairman's Influence and Potential for Cooperation Among Democrats09:44 Introduction of Tanya Otsuka and Her Potential Impact10:55 Closing Remarks and Future Plans

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.Host Mark Treichel interviews Bill Paton, Vice President at Alloya Federal Credit Union on the topics of liquidity in credit unions, focusing on events that took place in 2023. Bill identifies issues and developments including a rise in creative strategies for liquidity management such as securitizations and deposit swaps. He surmises that this ingenuity, likely a consequence of challenging times, will continue into 2024. The two also discuss the role of corporates credit unions and the Federal Home Loan Bank system in aiding liquidity. Lastly, they touch on the importance of loan pricing in managing liquidity, the potential benefits of non-member deposits, and the complexities of managing underwater loans. 00:35 Introduction and Guest Presentation00:59 Discussing Liquidity in Credit Unions01:11 Reflecting on the Year 2023 in Credit Unions01:43 Exploring the Role of Aloia Federal Credit Union02:15 Analyzing Liquidity Challenges in Credit Unions02:52 Understanding the Impact of the Pandemic on Credit Unions03:27 Discussing the Role of Large Credit Unions in Overall Numbers04:34 Exploring the Concept of Loan to Share Ratio08:14 Discussing the Future of Credit Unions in 202409:03 Understanding the Role of Securitizations in Credit Unions14:50 Discussing the Impact of Federal Home Loan Bank System20:10 Exploring the Role of Non-Member Deposits in Credit Unions22:38 Discussing Loan Pricing in Credit Unions28:22 Conclusion and Contact Informationhttps://www.linkedin.com/in/william-d-paton/https://www.linkedin.com/in/mark-treichel/

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.NCUA Chairman Todd M. Harper's Written Testimony Before the House Financial Services CommitteeNCUA Chairman Todd M. Harper testifying before the House Financial Services Committee in 2023.Chairman McHenry, Ranking Member Waters, and members of the committee, thank you for inviting me to discuss the work of the National Credit Union Administration (NCUA).The NCUA insures deposits at federally insured credit unions, protects credit union members, and charters and regulates federal credit unions. The NCUA also protects the safety and soundness of the credit union system by identifying, monitoring, and managing risks to the National Credit Union Share Insurance Fund (Share Insurance Fund). In my testimony today, I will discuss the state of the credit union system, recent efforts by the agency to strengthen the system, and several legislative requests.State of the Credit Union SystemThe credit union system over the last year has remained largely stable in its performance and relatively resilient against economic disruptions. However, during the last few quarters, the NCUA has seen growing signs of financial strain on credit union balance sheets and in household budgets. Economists are also forecasting an economic slowdown as the lagged effects of elevated interest rates take hold. Each of these developments could affect credit union performance in the coming quarters.Over the same period, the NCUA has also seen growing stress within the system because of a rise in interest rate and liquidity risks. In fact, this financial stress is reflected in the increasing number of composite CAMELS code 3, 4, and 5 credit unions.1 Assets in composite CAMELS code 3 institutions increased sizably in the second quarter, especially among those complex credit unions with more than $500 million in assets. Such increases may well continue in future quarters. We have additionally seen more credit unions fall into the composite CAMELS code 4 and 5 ratings during the second quarter.Credit Union System PerformanceAs of June 30, 2023, the system’s net worth ratio stood at 10.63 percent. There was continued year-over-year growth in assets and lending, with system assets surpassing $2.2 trillion and outstanding loans at more than $1.5 trillion. Although insured shares and deposits decreased slightly compared to the previous quarter, they stood almost 2 percent higher than one year earlier.Second quarter data also demonstrate some indications of growing consumer financial stress. The delinquency rate for loans rose slightly to 63 basis points, although it remains below historic averages. Credit cards and automobile loans, however, show increased delinquency levels at 154 and 67 basis points, respectively. Additionally, net charge-off levels have risen over the last year, returning to pre-pandemic averages.Additionally, funding costs for credit unions have increased significantly in the rising interest rate environment. Credit unions have increased their issuances of time deposits, leading to total interest expenses growing substantially over the year. However, the industry’s return on average assets remains sound at 79 basis points. Together, these numbers show the credit union system continues to rest on a solid footing.External Factors Affecting the SystemThe NCUA is closely monitoring the financial markets and the economy as the current environment has created challenges for some consumers and credit unions. Inflation and interest rates are affecting household budgets, which could lead to an increase in credit risk in future quarters. In addition, the prevalence of hybrid work environments has placed pressure on commercial real estate lending. While the credit union system overall has modest exposure to this type of lending, the NCUA is closely monitoring individual credit unions with material exposure to commercial real estate.The rise in interest rates has also increased liquidity and interest rate risks in the credit union system, including at several of the 421 federally insured credit unions with more than $1 billion in assets. Accordingly, the NCUA has emphasized the importance of liquidity risk management and contingency planning in its industry communications and will continue to ensure credit unions conduct liquidity and asset-liability management planning to address current challenges and future uncertainties.With respect to all these risks and to protect the Share Insurance Fund against potential losses, the NCUA will continue to vigilantly monitor credit union performance through the examination process, offsite monitoring, and tailored supervision. The NCUA will also, when appropriate, take action to protect credit union members and their deposits.Share Insurance Fund PerformanceBacked by the full faith and credit of the United States, the Share Insurance Fund provides insurance coverage for individual accounts at federally insured credit unions up to $250,000.2 As of June 30, 2023, the Share Insurance Fund insured $1.7 trillion in deposits and shares. Notably, the Share Insurance Fund protects nearly 92 percent of total share deposits in the credit union system. In comparison, uninsured shares and deposits equaled approximately $160 billion in the second quarter or 8 percent of total share deposits.The Share Insurance Fund continues to perform well, with no premiums currently expected. As of June 30, 2023, the Share Insurance Fund reported a year-to-date net income of $79 million, a net position of $20.3 billion, and an equity ratio of 1.27 percent.3 ...

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.Should Artificial Intelligence or AI Scare Credit Unions?  This  is With Flying Colors but this is NOT Mark Treichel.  This is an AI  recording of my voice that is saying what I type.  It is an earlier version of my podcast software's AI tools which I have never used.  I am not a fan but wanted you to hear how it sounds.  I don't think someone could pretend to be me with this low quality of AI.  But it will only get better.In my opinion I feel like Winnee the Pooh's friend Eeyore the Donkey.This IsFunI listened to another podcast about AI and it stated that the head of the CFPB was recently asked by congress what he could do about AI risks.  While I do not always agree with the CFPB I loved his answer.  He said the real question is what can congress do?To add a bit more meat to the AI aspects of this podcast I asked ChatGPT a question which is below and the answer:are there banking risks for artificial intelligenceChatGPTYes, there are various banking risks associated with the use of artificial intelligence (AI). Some of these risks include:Security Risks:Data Security: AI systems in banking often require access to large amounts of sensitive customer data. If not properly secured, this data can be vulnerable to breaches, leading to financial losses and reputational damage.Cybersecurity Threats: AI systems may be susceptible to cyber attacks, including hacking attempts or attempts to manipulate AI algorithms for fraudulent activities.Operational Risks:System Failures: AI systems can experience technical failures, leading to disruptions in banking operations. This could result in financial losses, customer dissatisfaction, and regulatory scrutiny.Integration Challenges: Integrating AI technologies into existing banking systems may pose challenges, and inadequate integration can lead to operational inefficiencies.Regulatory and Compliance Risks:Compliance Issues: AI applications in banking must adhere to various regulatory standards. Failure to comply with these standards may result in legal and financial consequences.Lack of Regulatory Clarity: The evolving nature of AI technology may lead to a lack of clear regulatory frameworks, making it challenging for banks to ensure compliance.Ethical Risks:Bias and Fairness: AI algorithms may inherit biases present in the training data, leading to discriminatory outcomes. This can result in unfair treatment of certain individuals or groups, raising ethical concerns.Transparency: Lack of transparency in AI decision-making processes can be a concern. Understanding and explaining the rationale behind AI-driven decisions is crucial for building trust among customers and regulators.Reputational Risks:Public Perception: If customers perceive that AI is being used inappropriately or without proper safeguards, it can harm a bank's reputation. Negative public perception can lead to customer distrust and a loss of business.Financial Risks:Model Risk: The accuracy and reliability of AI models can impact financial decisions. If AI models are not well-calibrated or fail to adapt to changing market conditions, it can lead to financial losses.Overreliance on AI: Excessive reliance on AI without appropriate human oversight can pose financial risks if AI systems make incorrect decisions or fail to adapt to unforeseen circumstances.Banks and financial institutions need to carefully manage these risks through robust governance, compliance measures, ongoing monitoring, and regular audits of their AI systems. Collaboration with regulators and industry stakeholders is also essential to address the evolving challenges associated with AI in banking.In closing and as a reminder this is NOT Mark Treichel.  It is all AI.  Thanks for listening to my monotone robotic AI version of me.  This is NOT Mark Treichel, signing off With Flying Colors

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.NCUA is adding a new Supervisory Level position which is a good move.  In this episode we discuss why they are doing it and what it means for credit unions.https://www.linkedin.com/in/mark-treichel/www.marktreichel.com

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.Full Testimony below.  In this episode, I discuss why the statements below and recent events in credit union cybersecurity will lead NCUA to push harder on obtaining 3rd Party Vendor Authority.  I predict it will be Priority One for NCUA in 2024.Director of Financial Technology and Access Charles Vice's Written Testimony Before Subcommittee on Digital Assets, Financial Technology, and InclusionChairman Hill, Ranking Member Lynch, and members of the subcommittee, thank you for inviting me to discuss the efforts of the National Credit Union Administration (NCUA) to encourage innovation in financial technology. I am Charles A. Vice, Director of the NCUA’s Office of Financial Technology and Access.Introduction and BackgroundI began my career with the Federal Deposit Insurance Corporation in 1990, serving as an examiner for 18 years. In 2008, I was appointed Commissioner of the Kentucky Department of Financial Institutions, a post I held for 14 years before joining the NCUA on January 1, 2023.Having worked with financial regulators for over 33 years, I understand the financial services industry’s vital role in the U.S. economy. The NCUA insures deposits at federally insured credit unions, protects the members who are not only consumers but also owners of credit unions, and charters and regulates federal credit unions. The strength of the credit union industry is based on the number and diversity of credit unions that meet the financial needs of their members. Safe, fair, and affordable access to financial services is necessary to ensure that local, state, and national economies grow and thrive.During my three decades of experience, I have witnessed the resiliency of the credit union and banking industries in the face of challenges such as Y2K, the Great Recession, natural disasters, and the COVID-19 pandemic. I have also seen how technology can be both a boon and a bane. On one hand, technology can improve efficiency, facilitate better communication with members, and offer round-the-clock services. On the other hand, technology presents risks that must be managed, monitored, and mitigated. The NCUA understands this fine balance.NCUA Office of Financial Technology and AccessThe NCUA Office of Financial Technology and Access identifies barriers, challenges, and opportunities credit unions face in adopting and using technology to provide financial products and services to their members. Recently, the NCUA Board adopted the financial innovation rule, which provides additional flexibility for federally insured credit unions to use advanced technologies and opportunities offered by the financial technology sector.1 During the notice and comment period, the proposed rule received supportive comments from the public and was finalized in September 2023.In addition, the NCUA is committed to promoting effective and efficient uses of emerging technology. The agency has implemented several initiatives, including a Virtual Examination Program and a Digital Asset Working Group. With its Virtual Examination Program, the NCUA is exploring methods to use technology to improve its examination and supervision procedures. The NCUA’s Digital Asset Working Group is an agency team that develops guidance for the credit union industry’s use of distributed ledger technology, digital assets, and cryptocurrency.The NCUA is also evaluating digital identification technology. The use of digital identification can be a reliable tool for verifying identity and is becoming increasingly popular with a number of states issuing mobile driver’s licenses. Some credit unions have completed successful pilot tests using digital identification and have updated their policies and procedures to incorporate this technology for onboarding new members.While technology can offer benefits for member services, as well as back office and compliance functions, the agency is monitoring for safety and soundness, consumer financial protection, and the potential for bias in technology platforms and solutions.Furthermore, the NCUA values the synergy between financial technology innovation and credit union inclusion. In 2020, the NCUA launched the ACCESS initiative—Advancing Communities through Credit, Education, Stability, and Support—which promotes financial inclusion using technology to achieve its goals. The NCUA is actively working to establish plans, objectives, and research to enhance financial inclusion through technology.In 2024, ACCESS will spearhead an initiative to improve access to financial services in financial deserts. This initiative will highlight opportunities where the agency can assist communities where credit union services are limited, or certain segments of the population are underserved. This initiative will also identify outreach opportunities, ensuring that ACCESS’s actions are timely, relevant, and impactful. Using this information, the ACCESS team will pilot targeted outreach for three communities in 2024. As part of this pilot, the NCUA will catalog and track the impact of the agency’s financial inclusion efforts and identify additional gaps and opportunities to foster financial inclusion.Third-Party Vendor AuthorityIn the context of financial innovation and technology, the NCUA’s need for supervisory examination authority over credit union service organizations and third-party vendors is a noteworthy vulnerability for the system. Other independent entities, including the Government Accountability Office, the Financial Stability Oversight Council, and the NCUA’s Office of Inspector General, have identified this deficiency as inhibiting the NCUA from fulfilling its mission to safeguard credit union members and the financial system. And it is the NCUA Board’s continuing policy to seek third-party vendor authority from Congress.2Credit unions increasingly partner with third-party vendors to enhance their products and services, make their programs cost-effective, provide access to expertise, and promote programs that may not be feasible if provided independently. The pandemic has accelerated the industry’s shift to digital services, which has inc...

Set up a call:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Check out our website:https://calendly.com/cuexamsolutions/talk-to-mark-about-any-exam-topic?month=2024-10Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.Hire us and gain:• Peace of mind during your exam process• Insider knowledge of NCUA procedures and expectations• Strategies to address potential issues before they become problems• Continuous access to our extensive subject matter expertiseWith our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union passers its exam with flying colors in its next examination.Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.In this episode of the 'With Flying Colors' podcast, host Mark Treichel interviews Dan Prezioso, a partner at Olden Lane, to discuss the dynamic landscape of credit union examinations and mergers. They touch on the unique aspects of credit union mergers, potential challenges, and strategies to navigate them effectively. Building on his insider knowledge, Prezioso shares his perspective on the critical role of subordinated debt and the need for strategic consolidation in the industry, in the light of recent market shifts and changing consumer appetites. The impact and response to the COVID-19 pandemic, deposit competition, tightening monetary policies, and the retirement of aging leadership, were also highlighted as driving factors for mergers and consolidation in the credit union market. The conversation emphasizes the need for credit unions to plan ahead, consider economies of scale, and take a strategic, proactive approach to mergers.You can reach Dan at:https://oldenlane.com/https://www.linkedin.com/in/danielprezioso/00:00 Introduction and Sponsorship00:31 Guest Introduction: Dan Prezioso01:02 Olden Lane and Credit Unions01:30 Subordinated Debt Market and Credit Unions03:35 Market Consolidation and Mergers04:07 Challenges in Credit Union Market06:46 Impact of COVID-19 on Credit Unions10:22 The Role of Regulatory Response11:46 Profitability and Efficiency in Credit Unions12:33 Challenges in Technology and Electronic Payments18:03 The Impact of Aging Leadership and Retirement22:59 Strategic Mergers and Acquisitions28:04 Conclusion and Contact Information