North Central Area Credit Union

Protecting Member Data in the Digital Age  By Mark Richter  President & CEO    Cybersecurity remains a paramount concern, with threats evolving as fast as the financial services landscape advances. As CEO of North Central Area Credit Union, there are insights all of us can agree on regarding emerging threats and effective security measures to safeguard our members' data. Emerging Threats and Security Measures The digital transformation has brought about unprecedented convenience and efficiency. However, it has also opened new avenues for cyber threats. Cybercriminals are increasingly sophisticated, targeting financial institutions with phishing attacks, ransomware, and data breaches. At NCACU, we are committed to staying ahead of these threats through advanced security measures such as encryption, detection systems, and continuous monitoring of our networks. Educating Members on Cybersecurity One of our key strategies is member education — with informed members being our first defense against cyber threats. To assist our members, we promote cyber security measures monthly in our blog and send customized emails with current information, as well as online tools and workshops that help provide a continual fresh pipeline of resources on the importance of cybersecurity. Highlighting local scams & phishing emails.  Securing personal devices.  Understanding the risks of public Wi-Fi. Encouraging Multi-Factor Authentication (MFA)  Multi-factor authentication (MFA) is another critical tool in protecting member accounts. MFA adds an enhanced layer of security by requiring not only a password and username but also a second form of verification that only the user possesses. This second form can be a one-time code sent to the user's smartphone, a biometric verification like a fingerprint or facial recognition, or a physical token. By combining multiple factors, MFA significantly reduces the risk of unauthorized access to accounts, even if a password is compromised. We strongly encourage our members to activate MFA on their accounts. We provide step-by-step guidelines and 24/7 support to facilitate this, ensuring a seamless setup process.  Best Practices  In a digital-first banking environment, adhering to cybersecurity best practices is crucial. We advise our members to: Use strong, unique passwords: Avoid easily guessed passwords, and consider using a password manager.  Regularly update software: Ensure all devices and applications have the latest security patches.  Be cautious with emails: Never email personal information; always verify the sender's authenticity before responding.  Monitor accounts regularly: Check account statements for unauthorized transactions. Final Thoughts  Cybersecurity is not just the responsibility of the financial institution; it's a collective effort that includes our members. We can create a safer digital banking world by staying informed, using the latest security tools, and following best practices. 

Looking to another chance to take out the clubs for a good cause? Get ready for the biggest NCACU event of the year! Superhero September, in collaboration with Put on the Cape: a Foundation of Hope, is our largest fundraiser, and we need your support to make a difference in the lives of children in need. This year we have our first annual golf outing in the Grand Rapids area to help us generate thousands of dollars to provide at-risk kids with essential services, clothing, and toys. Sign up today! https://lnkd.in/dRYbsDNM

Empowering Our Team to Guide Members to Financial Success  As we navigate a landscape rich with diverse financial products, the role of credit unions in guiding members through their financial journeys becomes increasingly vital. At North Central Area Credit Union (NCACU), we believe that the cornerstone of effective member service is a profoundly knowledgeable and empathetic staff who can confidently navigate these waters. Comprehensive Training: The Foundation of Expert Advice  It’s essential that our team not only understands each product in our portfolio but also the real-life applications of these financial tools. To achieve this, we’ve implemented rigorous scenario-based training that helps our staff relate products to individual member needs under varied circumstances. This method enhances their ability to foresee and solve member issues before they become problems. Enhancing Communication Skills  Equally important is empowering our team with advanced communication skills. At NCACU, we prioritize ongoing training that enhances our staff’s ability to engage with members effectively. Whether it’s explaining complex financial terms in simpler ways or understanding and responding to non-verbal cues during consultations, our goal is to build a rapport based on trust and understanding. Building Rapport with Insight and Empathy  Our approach is simple: advise members with empathy and insight. Each person’s financial health and satisfaction are paramount, and by empowering our staff to provide personalized advice, we ensure that each recommendation aligns with individual financial goals and risk tolerances. This tailored approach helps strengthen member trust and enhances long-term relationships. Leveraging Technology to Enhance Interaction  In today’s digital age, supporting our staff with advanced tools is non-negotiable. We leverage cutting-edge technology to provide our team with up-to-date information on member preferences and histories, facilitating more informed discussions and decisions. Digital tools also offer our members transparency and direct control over their financial decisions, reinforcing trust and satisfaction with our services. AI is also making an impact, allowing us to serve our members in a more tailored, informed way. Commitment to Member-Centric Service  Training our team to effectively guide our members in making informed financial decisions is crucial. As financial products evolve, so does our approach to member service. At NCACU, we are committed to continuously improving our educational tools and training programs to keep pace with both technological advancements and the changing financial landscapes.  At NCACU, we do more than perform transactions; we build relationships. By investing in our staff’s development, we are equipping them to help our members achieve financial clarity and success. Let’s focus on what truly matters—supporting our members in achieving their financial aspirations. 

Team NCACU got together in training in Mt. Pleasant! It’s always a good day when we get to all be together as a team! We learned about ourselves and our teammates and members through True Colors and we got lost on the moon. Lots of ah-ha moments and laughter! We are North Central!

Bridging the Digital Divide:   Our Commitment to Inclusive Digital Banking  By Mark Richter As financial institutions deeply rooted in community service, credit unions play a pivotal role in bridging the digital divide that prevents many, including older adults and residents of underserved and rural areas, from accessing essential digital banking services. At NCACU, we want to ensure that every community member can leverage the power of digital banking to enhance financial inclusion and equality.   Why is this mission critical?   Digital banking is as essential as any utility service in today’s world. It provides equal opportunities for all to manage their finances securely and efficiently, regardless of location, age, or economic status.  Here’s how NCACU and the broader credit union community are taking action: - Enhancing Accessibility: We continuously review the ease and usability of our digital platforms to ensure they’re accessible to everyone, including those with limited tech experience or disabilities. This includes intuitive design, and multi-language support. - Educational Initiatives: We educate members about the benefits of digital banking through informal workshops, one-on-one coaching, and online resources. These initiatives are geared towards members who may feel left behind by the digital shift, including those in rural areas with limited accessibility. - Partnerships for Wider Internet Access: Recognizing that reliable Internet is a prerequisite for digital banking, NCACU advocates for and partners with local initiatives to boost Internet accessibility in rural and underserved areas. - Tailored Financial Products: We develop financial products that can be easily used and managed through our digital platforms, ensuring everyone can access tools that enhance their economic well-being. To further promote digital inclusion, as credit unions, we can:  - Collaborate with mobile network operators to offer subsidized data plans.  - Set up community Wi-Fi hubs in partnership with local businesses or government facilities.  - Train digital literacy representatives who effectively assist members in using digital banking tools.  - Offer incentives for digital transactions, such as lower fees and rewards for signing up for eStatements.  - Provide robust technical support to build user confidence.  - Continuously enhance the user experience, such as regularly updating apps and websites to improve features for diverse segments, including youth, teens, individuals with disabilities, and older adults.  - Implement feedback mechanisms to gather insights and continuously improve digital services. At NCACU, we believe in leveling the playing field so everyone can participate in the digital economy. This commitment goes beyond enhancing our members’ banking experience; it’s about ensuring fairness, supporting economic advancement, and building robust, resilient communities.  #DigitalInclusion #CreditUnions #DigitalBanking #NCACU 

The credit union difference means collaborating with 1,200 professionsals from Michigan Credit Unions and coming together to raise $100,000 for Children's Miracle Network! Michigan Credit Union League & Affiliates

It has been an honor to have Randy volunteering for the credit union for over 40 years. Helping us grow, showing dedication and support to get where we are today. We honored him today as he retired from the board and surprised him by dedicating our Grandville conference room to him. Cheers to you Randy!

It was a beautiful morning to stomp out stigma for mental health with @benice.mi

Another amazing opportunity put on by Michigan Credit Union League & Affiliates allowing credit unions, including some from North Central, join together at the Captial building in Lansing for the State Governmental Affairs Conference. Representing credit unions and discussing state issues with law makers, during panels and enjoying discussion during lunch with our local lawmakers per district. This event makes an impact while we have the chance to talk with representatives one-on-one in our local districts and tell them stories about how the state issues effect our members. One topic in particular that was discussed was about short term/pay day lending and how credit unions are working to create products to help members get out of the snowball effect at payday lenders. This also leads into the discussion on how passionate credit unions are about financial literacy in our communities and schools. We are the voice and can make an impact to help our members! #legislativeadvocacy #PAC #governmentalaffairs #creditunions

Harnessing the Power of Unity:   Growth through Mergers and Acquisitions for Credit Unions    As the financial landscape continues to evolve, credit unions stand at the cusp of unprecedented opportunities for growth and expansion. The essence of our mission — to serve and uplift our communities — has never been more critical. One pathway to serving more people in our communities is through strategic mergers and acquisitions (M&As), a route that has seen a significant uptick in recent years.   Consider the North Central Area Credit Union (NCACU) journey, a testament to growth through strategic collaboration.   Early in 2022, CEO of First United Credit Union in Grandville, Michigan, was presented with the opportunity also to lead NCACU, based in Houghton Lake, Michigan. During his 16-month tenure serving as ‘dual CEO,’ his role expanded from leadership to mentorship, culminating in a decision by both boards to unify operations. Leading our teams and members through the transition with foresight and empathy, ensuring seamless integration that respected both organizations’ values and objectives.  This narrative underscores a vital opportunity for credit unions to lend their expertise and resources to their colleagues and counterparts. In doing so, we’re not diluting our essence or community ties, but instead, we’re amplifying our collective strength and reach.   Fears often associated with M&As — loss of identity, community disconnect, and a loss of familiar faces — are not inevitable. Instead, we can use these ventures to preserve and bolster our unique cultures and connections, enabling us to bring more value to members.   While this strategy is not the right fit for all, I encourage you to view M&As not as transactions but as opportunities to further our mission. They are vehicles for partnership, allowing more experienced credit unions to guide others toward greater operational efficiency, technological adoption, and service diversification.   Moreover, staying relevant in our communities doesn’t solely hinge on physical presence.   It’s about being responsive to evolving needs, which M&As can facilitate. Through strategic integration, credit unions can leverage combined resources to invest in new technologies, expand into undeserved markets, and introduce innovative products and services. These pathways are designed not merely for survival but to thrive in a competitive financial ecosystem.  Mergers can benefit many credit unions, but maintaining independence while forging strong alliances can better serve others. Even if a merger is not the answer, these alliances can bolster sustainability, enhance impact, broaden reach, and affirm our dedication to our communities.    Remember, strength lies in unity. Together, we can preserve our legacy and build a brighter, more inclusive future for all.