Welcome to this week’s edition of the NY News Roundup, where we bring you the latest and most exciting happenings in the world of New York credit unions. In this issue, we cover State Assemblywoman Pamela Hunter’s visits to various credit unions, a meeting with Senator Daniel Stec, Michele Dean’s local recognition, a helpful webinar from Posh, and a festive showcase from recent holiday chapter events.
NYCUA Adirondack Chapter Meets with Senator Daniel Stec
Recently, the Adirondack Chapter hosted a meeting with New York State Senator Dan Stec. In addition to the Senator and his Chief of Staff, attendees included representatives from UFirst FCU, Dannemora FCU, and Mountain Valley FCU.
Senator Stec’s district encompasses a large portion of Upstate New York, including parts of the Adirondack Mountains and the Champlain Valley. The district covers Clinton, Essex, Franklin, Warren, Washington, and parts of St. Lawrence Counties. As a lawmaker, Senator Stec has focused on issues such as job creation, economic development, and expanding education opportunities within his communities.
Among many topics, discussions focused on the current nature of fraud within the financial services industry, the future implications of artificial intelligence, and the impact that credit unions have in supporting community organizations to help improve the lives of those within their community. The discussion was informative and thought-provoking, highlighting the importance of ongoing dialogue and collaboration between credit unions and policymakers.
The New York Credit Union Association would like to extend our sincere appreciation to Senator Stec for taking the time to meet with us. We look forward to continuing to work together to ensure a better future for all New Yorkers.
Leading with Innovation: President and CEO of Suffolk FCU Named in 2023 Influencers List
Michele Dean of Suffolk Credit Union has been named in the Long Island Business News (LIBN) 2023 Influencers List, highlighting her impactful leadership since joining in 2020. Dean has led the credit union to surpass $1 billion in loan balances, a historic milestone reflecting a $181 million growth in 2022. Her strategies also resulted in significant deposit balance increases and a 10% growth in new memberships.
Dean’s focus on member experience and innovation is evident in her introduction of market-leading rates and the credit union’s first Interactive Teller Machine. This commitment to service quality has earned Suffolk Credit Union the title of “Best Credit Union on LI” for two consecutive years.
With a 30-year career in financial institutions and a strong educational background, Dean’s expertise is well-recognized. Her role in LIBN’s 2023 Influencer’s List is a testament to her significant contributions to Long Island’s financial sector, especially in a challenging economic climate.
Join us in congratulating Michele for this recognition of her hard work!
Unlocking AI: The Power of AI for Small Credit Unions with Posh
The New York Credit Union Association, in conjunction with other state leagues, will be partnering with Posh to host a complimentary webinar to explore the transformative power of Artificial Intelligence (AI) for small credit unions. Please join us on Wednesday, December 13 at 2 pm EST. Nick Leonard, SVP & GM of Posh Technologies, will delve into the basics of AI for financial institutions, outlining practical applications specifically tailored for credit unions. He will also present an actionable plan of how credit unions under $300M in assets can kickstart their AI journey within the next 30 days.
Please note, this webinar is tailored specifically for CUs with assets $300M and below
Posh’s mission is to accelerate the responsible adoption of AI for financial institutions, empowering them to best serve their communities. Posh’s AI solutions address challenges unique to the financial services industry, such as:
- Alleviating long wait times in favor of warm, conversational customer self-service
- Enabling 24/7 access to banking services
- Creating lead-generation opportunities without compromising VIP customer service
- Streamlining knowledge management
Also being discussed will be Posh’s newest AI web assistant, Poshie. Poshie learns from your website to answer common member questions. It can be set up on your site in less than a day and serves your members 24/7, in over 50 languages. Through a partnership with the NYCUA, Poshie is free to all CUs under $300M in assets. Together our goal is to empower as many small CUs as possible, who historically have been marginalized in their access to cutting-edge technology.
Any questions can be directed to Lawrence Quan, Director of GTM for Posh, at Lawrence.email@example.com
Assemblywoman Pamela Hunter Visits Local Credit Unions
Chair of the New York Assembly Banks Committee and Assemblywoman Pamela Hunter continued her tour of local credit unions to hear more about the tremendous work they are doing for their members and communities. We would like to thank AmeriCU Credit Union for hosting the most recent visit. Previous visits were held at Municipal Credit Union, Hudson Valley Credit Union, Sunmark Credit Union, and Mountain Valley FCU.
Credit unions play a vital role in providing affordable financial services to their communities and promoting financial literacy. Through collaboration and participation, those in attendance were able to gain a deeper understanding of the challenges these institutions face and the advocacy required for policies that align with the mission of ‘People Helping People’. The New York Credit Union Association thanks Assemblywoman Hunter for her commitment to these important causes and looks forward to continuing to work with her to support credit unions and their members across the state.
Chapters Across the State are Feeling the Holiday Spirit
Credit union chapters across the state have gathered this week for their annual holiday parties! Members and attendees enjoyed food and drinks while catching up with old friends and making new ones. The parties also featured fun activities, like raffles, festive games, and donation events for local charities. These events leave all with a renewed appreciation for the credit union movement and the warm community that credit unions foster. These gatherings serve as a reminder that our organizations are more than just financial institutions, but active parts of the communities we serve.
Credit unions have a long-standing tradition of giving back and supporting local causes, and these holiday parties are just one way they showcase that commitment. Thanks to our dedicated efforts, we’ve proudly made significant contributions to the following organizations: Catholic Charities, Community Hunger Outreach Warehouse (CHOW), St. Luke’s Mission of Mercy, and The Regional Foodbank of NENY. By bringing people together in a festive atmosphere, credit unions build and strengthen relationships among members. Building community through events like these is what sets credit unions apart from other financial institutions and is a big reason why so many choose to be a part of them. As the new year approaches, credit unions will continue to be an important part of their communities, working to make a positive impact and provide financial services that benefit everyone.
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