Tuesday, November 24, 2020

👨🏼‍🚒 Happy Thanksgiving

 


Have a safe and Happy Thanksgiving!

“Thanksgiving” is a day when we pause to give thanks for what we have!

The board and management of NCOFCU would like to give thanks to our NCOFCU family members for proving that,

"great things happen when firefighters and
first-responders come together"


Save the Date
Fort Worth,TX. September 29-October 2, 2021
https://ncofcu.org/fort-worth-tx

👨🏼‍🚒 Auto Link Announces Patent Approval


HARAHAN, La., Nov. 17, 2020 /PRNewswire/
-- Auto Link, a leading technology and marketing company serving financial institutions, today announced that the United States Patent and Trademark Office has issued the company's U.S. Patent 10,817,145. This patent covers a method for enhancing an existing web site with a seamless integration of complex functionality provided by an external iframe. Using the novel methods presented in the patent, dynamic interoperability of an existing outer web site with an inner iframe is enabled to provide internal linking, coordinated color schemes, social media integration, seamless styling, and other adaptations so that the iframe appears to be an integrated part of the existing web site. In the first application of this new seamless iframe technology, Auto Link's car research portal allows financial institutions to provide their customers and members a safe place to search for their next vehicle without worrying about internet cookies tracking their search and following them with competitors' easy digital financing offers.


Auto Link's exclusive Digital Car Buying Solution allows financial institutions of any size to compete and win in the auto-vertical against competitors such as auto dealers and internet marketers by providing all of the vehicle research, buying and financing tools directly on the client's website. With more and more consumers going digital and spending an average of 12-14 hours online researching their next vehicle purchase, attracting consumers early in the car buying process without the third-party cookies and ads is key to success for any financial institution.

The patent serves to enhance the consumer experience as they complete their online search funneling into client auto lending solutions. This technology provides financial institutions a method to embed a world-class vehicle search within their website, keeping consumers within their site as they browse and provides leads and loan applications before competitors can even begin targeting them.

Ed Bourgeois, Auto Link CEO, states "We are passionate about providing the most value to financial institutions, and this patented technology is an important piece of our mission.  We are excited to work with our clients to ensure they remain competitive in the auto-vertical today and in the future as technology and consumer habits change."

The company currently works exclusively with credit unions, although the patent technology can be used in a wide array of industries.

About Auto Link
Auto Link offers a best in class solution for credit unions of all sizes looking to have a more successful and profitable auto-lending program, including those that do indirect auto financing. Auto Link provides a complete auto lending solution from web interface, marketing library, social media portal, training tools and analytics to a built-in loyalty feature. Each member that finances a vehicle at an Auto Link credit union, automatically receives a myEZ Car Care membership filled with discounts at over 10,000 locations nationwide and an Electronic Glove Box® desktop and mobile app.

Contact Ed Bourgeois, 504-273-0337
259157@email4pr.com
BookMoreAutoLoans.com
 

Friday, November 20, 2020

REQUIRED INFORMATION FOR CREDIT UNION BOARD CHAIRMEN AND MANAGEMENT

 REQUIRED INFORMATION FOR CREDIT UNION BOARD CHAIRMEN AND MANAGEMENT

Letter to Federal Credit Unions (20-FCU-04)
Federal Credit Union Meeting Flexibility
During the COVID-19 Pandemic

Dear Board of Directors and Chief Executive Officers:

The NCUA understands COVID-19 continues to affect federal credit unions and their members to varying degrees. The agency, therefore, is extending the relief measures outlined in Letter to Federal Credit Unions, 20-FCU-02, NCUA Actions Related to COVID-19 – Annual Meeting Flexibility.

Under this authority, a federal credit union may adopt, by a two-thirds vote of its board of directors, the bylaw amendment below to Article IV without additional approvals by the NCUA. As indicated by the underlined language below, the NCUA is also adding optional language related to board of directors’ meetings to the amendment. A federal credit union may choose to adopt the amendment with or without the underlined language related to board of directors’ meetings.

Read the Letter to Federal Credit Unions



Richards & Associates Weekly Summary

 

Weekly News Summary - November 20, 2020

Press Release

 

 

Weekly News Summary

Here are some things that were in the news last week. Please share these articles with your Supervisory Committee and Board of Directors. If you missed previous editions of the weekly news, summaries of those can be viewed at our archive.  



Have a great week!

Mike Richards, CPA

 

 

Economic and Industry Issues

Knowledge is the key to effective corporate governance. Staying abreast of economic

and industry issues affecting your credit union will prepare you for those responsibilities.

The Credit Union Movement and Veterans Read More

Lending Perspectives: Tips For Making Your Auto Loan Approach COVID-19 Proof Read More

Lending in 2021 Read More

 

 

Regulatory and Accounting Issues

 

Regulatory and accounting issues are changing all the time. Staying abreast of those changes

is an important part of the corporate governance.

Interagency Proposed Rule Regarding Supervisory Guidance Read More

Actions needed now to head off deeper, longer crisis Read More

 

Fraud Awareness

As you will see from reviewing these articles, fraud can happen in any credit union. Staying vigilant is the key to preventing your credit union from being the next victim.

October 2020 – NCUA Issues Prohibition Notice Read More

Susanville Woman Sentenced to More Than Two Years in Prison for Bank Fraud and Related Offense  Read More

 

 

If this email was forwarded to you by another subscriber, you can join our mailing list and have the free Weekly News Summary sent directly to you. Subscribe now

 

Visit us at richardscpas.com