Learn how Mazuma Credit Union and Allentown Federal Credit Union are meeting their revenue goals while maintaining compliance.

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The Floyd ReportVolume 12, Issue 2

Inside this issueJMFA Case Study Performance/Profitability Solutions

Generating Non-Interest Income in a Highly Regulated Environment

Financial institutions looking for ways to remain viable and competitive can no longer rely on conducting business as usual.

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Floyd’s ForumRevenue isn’t Expected to Return in the Near Term

Steps you can take to remain viable

By John M. Floyd, Chairman and CEO

Since the economic downturn in 2008, financial institutions across the nation have made adjustments to increase revenue and reduce expenses. But no one expected the difficult conditions to last as long as they have. Five years later, economic and regulatory factors continue to restrict revenue opportunities. Credit unions face new worries today about the cost of regulations, increased capital requirements, low interest rates, and reduced loan quality and demand.

Until the economy gets firmly back on track, it is clear banks need to take a new strategic approach to their daily operations if they want to maintain stability during this uncertain ride.

While managers continue to be cost-conscious regarding staffing levels, it’s important to remember consumer demand for financial services remains high. Maintaining sufficient front-line personnel is essential. As the old adage warns, “you can’t cut your way to prosperity,” especially if it means a drop in member services, causing you to lose business.

Discover what’s going on beneath the surfaceThe best approach today is a strategic review of your ongoing expenses, with an eye on long-term consequences and benefits. You’ll see an appreciable difference in the bottom line and uncover new opportunities to improve the services provided to your institution. Relying on the “we’ve always done it that way” strategy could be costing you much more than you realize and affecting the level of service you receive from vendors throughout the year.

Taking a more strategic approach to cost-cutting initiatives – with input from the staff and board of directors – can lead to substantial savings, more efficient operations and a more cohesive work environment.

Of course controlling expenses is only half the equation. Discovering new sources of income generation is equally imperative in today’s challenging environment. Take a look at the related article in this issue, “Generating Non-Interest Income in a Highly Regulated Environment,” to learn more about how to boost your bottom line with products and services that are in demand by today’s consumers.

When all is said and done, remaining viable in today’s economy takes a balanced approach of maintaining an efficient organization, supported by compliant, income-producing products and services that provide value to members.

Are You Linked?Credit Unions Look to Human Resources for Social Media Policies

Nurturing Emotional Ownership Makes for a Stronger OrganizationBy Keith Hughey, Senior Consultant

As consumers rely more on social media to stay informed, get connected, and interact with the marketplace, credit unions have an opportunity to reach more audiences through more avenues than ever before possible – and reach them fast.

From internal employee communications to external marketing of new products, social networking sites disseminate your messages quickly, with immediate feedback.

The number of users today is staggering. More than 1 billion on Facebook. Some 500 million on Twitter. And 200 million and growing on LinkedIn. Not to mention sites like Google+, YouTube, Pinterest, Tumblr, Flickr, Instagram and Blogs, all of which continue to attract increased traffic.

Keep in mind, however, when you open up these new channels of communication and interaction with internal and external

audiences, you also open the door to security, compliance and reputational risks – unless you have a firm policy in place to control social media usage and conduct.

A social media policy – one that clearly outlines how your institution and its employees should be represented in the virtual community – is imperative today. Your policy should be specific, with clear rules on when and how employees may use social media. It should do everything possible to protect network security, the privacy of your members and staff, and the credit union’s reputational integrity.

For reputational purposes, it’s a good idea to implement guidelines on how to address discourteous or disrespectful comments from internal personnel or social media followers, and what course to take in the event information needs to be removed from a site.

Make sure all employees understand your organization’s definition of social media, as well as how they should conduct themselves when representing or discussing the credit union on a selected network. Schedule training opportunities where a designated social media contact can go over the usage policy and ensure your staff understands the importance of adhering to this organization-wide code of conduct – and the consequences of violating those policies. Your social media plan should include periodic follow-up training to keep everyone up-to-date on the latest compliance guidelines and risks, to avoid any regulatory or reputational consequences.

While no case law currently exists for dealing with employee use or abuse of social network sites, you can create a positive flow of content and interaction, and protect your financial institution, by establishing responsible use policies from the outset.

While economic conditions may be improving, credit unions continue to face challenges that can only be overcome with a completely dedicated workforce. As a principal of the credit union, you have the benefit of “owner” attributes that drive your unwavering commitment to the institution’s success. But how do you get your employees – regardless of their job title or responsibilities – to share the same level of dedication?

Creating a culture where employees maintain a clear emotional connection between their efforts and the resulting benefit for the organization makes for a happier, more productive work environment. If the voices of your employees are heard and their opinions are valued, they feel more connected and have a greater appreciation of the relationship between their actions and overall results for the short- and long-term.

It’s called “emotional ownership.” Think about when you first became interested in baseball or any other sport. No matter your age, at some point – whether you were rooting for the home team or became enamored with a certain player’s prowess on the ball field – you adopted a certain team as “your favorite.” From then on, you only wore sportswear that bore the name,

The Floyd Report Volume 12, Issue 2 Page 1

Recruitment ServicesEstablishing a Winning Team Requires Covering all the Bases

Recruiting and retaining top-notch staff can be an intense process. Learn a few tips on how to assemble the best team to achieve your goals.

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continued on page 4

The Floyd Report Volume 12, Issue 2 Page 2

In today’s ever-changing environment, the success of a credit union is due, in large part, to the expertise and skill of its employees. However, recruiting and retaining top-notch staff can be an intense process. Whether you are looking for a CEO to replace a beloved leader due to retirement or need to add specialized talent to an existing department, combining an efficient recruiting process with quality resources will give you the best long-term results.

Finding the right match for your leadership needsIdeally, a succession plan should be put into place long before you are facing the departure of your existing CEO or president. If you don’t already have a strategy in place, take necessary steps toward establishing a plan that ensures a seamless transition to new leadership.

Start with an internal search There are several benefits to beginning your search from within. Internal candidates are already familiar with the credit union’s culture and staff; as well as the opportunities and challenges the credit union may face. By establishing an internal path to leadership, you have a better chance of retaining up-and-coming

stars. Plus, you will demonstrate to other staff that you reward hard work and loyalty.

One drawback of promoting from within is that you don’t always get fresh ideas from someone who has seen things from a different perspective – or from outside of the credit union industry. To make sure you have the opportunity to select from a broad range of available leadership talent, broaden your search as much as possible.

Accessing external talentOnce you expand your search outside of the credit union, don’t spend a lot of time and money on resources that won’t bring the greatest results, such as relying solely on newspaper or online advertising. While this may result in a pile of resumes to review, many times potential candidates who have the best qualifications to fill an open position are not actively seeking a job. But they might be interested in an opportunity to increase their skills or move for a position that gives them the chance to grow and gain more responsibility.

If you don’t have the resources internally to conduct a thorough outside search, a recruiting firm can give you access to highly qualified candidates while saving you a tremendous amount of time. Just make sure the firm you select knows the financial industry inside and out.

Plant seeds with all industry connections for cream-of-the-crop candidatesTo get a head start on filling positions as they come available, it is important to establish a Human Resources Information System (HRIS). This will allow you to gather and track resumes and applicant information, even if you don’t currently have openings in their areas of interest. Then, begin to build a database of possible candidates.

To find candidates set up an internal referral program to incent staff members to refer candidates. Also consider establishing a social media presence and taking advantage of trade association membership resources. If you are looking for entry-level talent, one way to find star candidates is getting to know college recruiters .

Keeping new employees happy and productive The investment in your new team members is essential. Here are some ways to ensure they are set up to contribute to your organization:

Welcome them onboard To keep new employees help them get acquainted with staff and show them where everything is located so they feel like an important part of the team.

Challenge them professionally Talented individuals expect to spend their time on worthwhile assignments that motivate them. If momentum starts to wane they may look for other opportunities.

Maintain competitive compensation Salary offers should be competitive within your market. Then, consider annual percentage increases and/or bonus opportunities so they have ways to increase their compensation.

Recognize good performance One of the easiest ways to motivate employees is to recognize performance. Whether it is the CEO or teller, all employees need to know they are appreciated.

To learn more about finding the best talent for your organization, contact Charles Shanley at 866-264-5017 or Charles.Shanley@JMFA.com.

Credit unions looking for ways to remain viable and competitive can no longer rely on conducting business as usual. As the opportunities to generate fees from traditional services are reduced, many are concerned with how to maintain a level of income that allows them to offer the services that keep them competitive. It’s a challenging balancing act at best: increase your bottom line while staying compliant and delivering the services and service levels your members demand.

According to industry experts, service charges on deposits have decreased substantially from levels reported just two years ago. And with ongoing regulatory pressures during that timeframe, the two products that produced the most non-interest income – debit card interchange fees and overdraft/NSF fees – have been greatly restricted.

What actions can credit unions take to offset the reductions in net non-interest income losses as a result of these pressures? By following these five strategies, your credit union can streamline your processes, increase your non-interest income and provide services that more accurately reflect what your members want and need:

1. Let go of unprofitable products.Constantly review product profitability to determine if an offering has passed its prime. If you introduced a product as a growth loss leader and now have enough – or even too many – deposit balances, it is time to

remove that product from your list of offerings.

2. Look outside of the traditional revenue boxes. Limiting your focus to the standard checking and savings accounts, auto and signature loan product offerings will limit your marketability and revenue opportunities. In today’s environment, consumers demand more sophisticated financial products that help them reach and maintain their financial goals. By diversifying your product offerings, you can increase your revenue opportunities and remain competitive.

3. Change your delivery to a “Sales and Service” culture. Train your staff to cross-sell peripheral products that result in increased revenues. Universal Financial Services representatives who can provide members with access to multiple services – such as opening new accounts and taking loan applications – provide convenience and are part of a more cost-effective operating strategy for the institution.

Also, basing compensation on production can be a win-win for both motivated staff and the credit union as new business goals are met.

4. Combine compliant products with great service. You can set your credit union apart by providing your members with access to the products and services they need to manage their finances, such as an overdraft privilege program. Just make sure you provide full disclosure of all fees and usage terms.

While consumers continue to be wary of hidden charges, they are willing to pay for services that add value to their lives. By providing transparent communication and education regarding eligibility,

appropriate program usage and repayment policies, you can strengthen the relationship you have

with existing members. Plus, you can avoid regulatory concerns while earning the

non-interest income you need to reach your performance goals.

5. Determine the best way to provide service to members.As consumers rely more and more on untraditional ways of conducting business, it is imperative to learn how your members – as well as non-

members – want to interact with their financial institution. Do your

competitors offer mobile,

Establishing a Winning Team Requires Covering all the Bases

Generating Non-Interest Income in a Highly Regulated Environment

By Charles Shanley, SPHR, CFS, Executive Vice President

continued on page 3

The Floyd Report Volume 12, Issue 2 Page 3

JMFA Adds Consulting Expertise

JMFA is pleased to introduce the following additions to our staff of experts:

James Barkley, National Sales Director, Recruiting and Staff Augmentation

James joins JMFA as national sales director, recruiting and staff augmentation. With more than 25 years of experience in human resource consulting, executive search, recruitment process outsourcing and corporate recruiting, James specializes in staff augmentation and flexible staffing projects, as well as providing specialized talent for difficult-to-fill positions on an

interim/contract basis or full-time recruiting/search situations. He also has expertise in the procedures and structural design of the recruiting process, as well as client management and development.

Prior to joining JMFA, James worked for several years as an independent consultant, providing executive search and flexible staffing solutions to the financial and energy industries. His previous experience includes HR consulting and the design of employee benefit plans, as well as HR outsourcing operations. He is a member of the Society for Human Resource Management and the National Association of Placement Specialists. In addition, he currently holds a CSAM (Certified Senior Account Manager) designation and is the recipient of eight “Pacesetter Awards” from Management Recruiters International, as well as a Star Performers Award from Futurestep (Korn Ferry International).

Shannon Williams, Executive Search Director

Shannon Williams joins JMFA as executive search director. Previously, she worked for a government agency where she performed a variety of workforce functions, including career planning, resume writing and review, recruiting, business development and adjudication of unemployment insurance. Shannon’s background also includes working for a large global

recruiting agency where she specialized in finance, accounting and mortgage positions within large financial institutions. She also has experience recruiting for all levels of management positions across a variety of industries, including financial services. Shannon received a Bachelor’s degree in psychology from Southern Illinois University, Edwardsville.

Josie Rocha, Junior Recruiter

Josie joins JMFA as junior recruiter. Previously, Josie was a sourcing specialist and coordinator with Futurestep, a Korn/Ferry Company, and was trained on Korn/Ferry International’s Interview Architect. Her background includes retained search across several industries and multiple countries. Her experience of recruiting finance positions began while she was working on behalf of

Kraft/Mondolez Foods and American Express.

Josie received a Bachelor of Liberal Arts degree in organizational/corporate communications from the University of Houston, where she was a member of the Association of Women in Communications (AWC).

“As the challenging business environment continues for financial institutions, so does the need for experienced personnel who have the skills and professional attributes to fill a wide range of key positions,” said JMFA Chairman and CEO John M. Floyd. “We welcome James, Shannon and Josie to our recruitment services team and are confident their recruiting and staffing expertise will be valuable in helping our clients find the candidates they need to fill their important vacancies.”

How Does Your Credit Union Measure Up?

Economic and regulatory challenges impact credit unions of all sizes – from Missouri’s Mazuma Credit Union, serving more than 52,000 members, to the much smaller Allentown Federal Credit Union in Pennsylvania, with less than 8,000 members. While their situations are distinctly different, they shared concerns over declining revenue, maintaining compliance and providing valuable service. They found a common solution with JMFA.

Revenue challenges and service opportunities Mazuma had a relatively successful in-house overdraft program up until the passage of Regulation E, which required members opt-in for overdraft coverage on electronic transactions. According to Mazuma CEO Brandon Michaels, “with the implementation of Reg E, our overdraft income was cut by more than half.”

Michaels realized that the steep revenue decline could mean a reduction in staff, as well as reduced deposit rates and fewer member services. “We knew we had to do something to offset the lost income,” he said.

Mazuma’s overdraft solution did not provide coverage for overdrafts incurred by debit card or ATM transactions. So when credit union met with JMFA in January 2011, they saw an opportunity to expand their member services while potentially increasing income.

“JMFA OVERDRAFT PRIVILEGE® helped us provide our members with access to their funds through more delivery channels,” Michaels explained. “While some may not support an overdraft privilege program because they feel it is a catalyst for poor member choices, we felt that we had an obligation to provide our members with access to their money, and then to help them avoid over using the ‘privilege’ through educational resources.”

According to Michaels, any reservations the credit union had about implementing an overdraft program were alleviated by JMFA’s fully disclosed, fully communicated approach.

Providing a safety net when neededThere were also reservations early on at Allentown Federal Credit Union.CEO Barry Weiner had concerns about remaining well-capitalized given the declining economy, as well as on-going concerns regarding NCUA assessments.

Weiner was skeptical about offering an overdraft program. “I didn’t see the value of allowing someone to overdraw his or her account,” he said. But as the economy worsened, Weiner saw that some members continued to have difficulty making ends meet. “With people living paycheck to paycheck, it occurred to me that we needed to provide a safety net to give these members access to the funds they needed and help them avoid paying additional merchant penalty fees,” he said.

So when the decision was made to implement an overdraft program in 2005, Weiner contacted JMFA based on the company’s reputation for providing a comprehensive, compliant program.

Making it easy to succeedAs a smaller credit union, Allentown didn’t have the manpower to devote to implementing a new overdraft program, and still keep up with the day-to-day needs of their members. JMFA’s implementation team to do all of the heavy lifting freed up the staff to continue providing members with the best possible service. “JMFA’s team was extremely helpful and delivered on everything they had promised,” said Weiner, echoing Michael’s experience at Mazuma.

For Mazuma, while the credit union initially planned to keep its in-house software for reporting charge-offs and recoveries, they discovered that JMFA’s Privilege Manager CRM® software provides better tracking. “Having this program makes it much easier to track the fees and principal in our charge-off recoveries,” Michaels said.

Reaping the revenue rewardsWith its original overdraft program, Mazuma was earning more than $150,000 a month in non-interest income, which declined sharply when Reg E restrictions were put in place, falling to $68,000 a

month. Since implementing JMFA OVERDRAFT PRIVILEGE®, it has rebounded dramatically, growing to well over $400,000 a month. And with JMFA’s input on best practices regarding Reg E’s opt-in requirements, more members are opting in.

At Allentown, CEO Weiner has also seen impressive revenue results from JMFA OVERDRAFT PRIVILEGE®. “I thought we did well with income before JMFA,” he said. “But in my wildest dreams I didn’t expect to see so much earning improvement as a result of this program.”

Best practices for complianceThe management teams of both credit unions are relying on JMFA’s compliance expertise. “The resources and services provided by JMFA have improved employee training, which has been instrumental in helping members understand how to better manage their funds,” Michaels explained.

“JMFA provided all of the education and member communications materials we need,” added Weiner. “The fact that their programs are guaranteed compliant translates into real relief.”

More than pleased with the resultsWhile he admits being a bit skeptical early on, Weiner has been extremely pleased with the outcome. “My advice is to just keep it simple, follow JMFA’s advice and you can’t go wrong.”

Michaels shares that sentiment, concluding “When we selected JMFA, we did so based on their reputation for providing successful revenue results and their 100 percent compliance guarantee. Going forward, I have unwavering confidence that JMFA will help Mazuma Credit Union maintain both.”

Visit www.JMFA.com/CaseStudies to read more client success stories.

person-to-person or business to-business banking? If you want to remain competitive, it may be necessary to change your existing business model.

If you’re not sure what types of products and services your

members want or need, ask them. Create a short survey to gather input on the value your members place on your existing offerings and ask them about their level of interest in services that you don’t currently offer, but would be willing and able to add. Also, train your front-line staff on how to begin discussions regarding

financial products and services with your members. Face-to-face conversations are a great way to gauge interest in a topic and demonstrate that your institution is truly committed to providing excellent service and meeting the needs of members.

Asset quality, loan demand, decreasing margins and dominant regulatory expectations continue to weigh on the challenge of maintaining a competitive advantage.

Whether you are currently re-evaluating your credit union’s strategic plan or making plans for 2014 we can help.

Our Net Operating Analysis is a unique, proprietary tool that looks at both sides of the balance sheet – income and expense. It will objectively and unequivocally reveal your most likely opportunities to realize greater success. And, you can view comparisons with as many as five of your toughest competitors.

Need some insight? We can walk through the report with you to help identify opportunities for creating an action plan so your credit union can reach its goals.

Visit www.JMFA.com/NOA and pinpoint your potential in minutes.

Compliance, revenue and customer service These credit unions made one choice and got all three

News Generating Income...continued from page 2

logo or mascot of that team and you cheered for them every season, no matter their win/loss record. For most of us it is safe to say that there was no major financial connection with the team – we didn’t have a stake in the revenue or support them beyond the cost of our game tickets. But every time you saw someone wearing a ball cap or t-shirt with that team’s name, you smiled and felt a connection, even if you had never seen that person before.

In the work environment, this emotional ownership can result from giving employees ownership in the process – even though they may not have direct participation in the profits and losses of the institution. For employees to feel this connection, they need to know the following:

• Where the institution is going (the vision);

• Why it is going in that direction (the mission or purpose);

• How you intend to get there (the values everyone will honor, as well as an action plan to help you achieve the vision);

• When you plan to arrive at that destination; and perhaps most importantly

• What role they play in making that vision become the new reality.

To create a sense of emotional ownership in the workplace, managers need to make those around them feel appreciated by sincerely and objectively listening to all of their ideas and, more importantly, acting on the ones that have merit. As a result of these simple efforts, a

higher degree of dedication and enthusiasm will be apparent at all levels of the organization.

One of the truly incredible things about emotional ownership is that once someone’s personal radar becomes fixed on that frequency, all it takes to generate unwavering dedication is minimal training and support.

Conversely, if you stifle the ideas of others, either through words or actions, or send the message that people are simply units of production, the only way to keep them physically engaged and intellectually focused on the tasks at hand is to pay them far more than what they might earn elsewhere. Just know that those golden handcuffs will do little to foster any positive emotional attachment.

The Floyd Report Volume 12, Issue 2 Page 4

August 25-28CUESExecu/NetFish Camp, CA

September 5-7Texas Credit Union LeagueLeadership ConferenceSan Antonio, TX September 5-7Pennsylvania Credit Union AssociationFall Leadership ConferenceChampion, PA September 13-15Metropolitan Area Credit Union Management AssociationAnnual Leadership ConventionCambridge, MD September 25-26Indiana Credit Union LeagueAnnual Meeting & ConventionIndianapolis, IN

October 8-10Northwest Credit Union AssociationConvention & Annual Business MeetingPortland, OR October 9-12Kentucky Credit Union LeagueAnnual Meeting & ConventionLouisville, KY October 22-24Montana Credit Union NetworkFall ForumBillings, MT

October 22-24Missouri/Oklahoma Credit Union AssociatonConvention & ExpoLake Branson, MO

October 28-30California and Nevada Credit Union LeagueAnnual Meeting & ConventionSan Francisco, CA

EVENTS

Senate Bill Would Prohibit Re-Ordering of Consumer Transactions

A bill introduced by U.S. Senator Sherrod Brown (OH) on July 22, would

prohibit banks and credit unions from ‘batching’ account holder transactions

in order to create additional overdraft fees.

The Brown bill would put a stop to the practice of re-ordering account holder

payments and allow the Consumer Financial Protection Bureau (CFPB)

to establish fair guidelines that would protect consumers, bar financial

institutions from employing predatory practices and provide a safe harbor

from litigation for the banks and credit unions that play fair with their

account holders.

Specifically, the Brown bill would crack down on predatory practices by:

• ensuring financial institutions post transactions in an objective way;

• requiring financial institutions to disclose their policy on how

they order transactions so consumers can avoid additional fees;

• giving the CFPB the authority to monitor overdraft practices to

determine if they are predatory; and

• establishing fair guidelines to protect consumers now and in

the future.

According to Brown, “reordering is confusing to consumers and has helped

contribute to higher fees for the one in every five Americans who will

overdraw their checking account this year.”

Recently a Federal district court came to a similar conclusion that financial

institutions regularly reorder transactions from high-to-low, instead of low-

to-high, to generate additional fee income at the expense of consumers.

Support for the legislation also comes from The Pew Trust’s “Safe Checking

in the Electronic Age Project” that identified where transaction reordering

caused one consumer to incur four overdraft charges instead of one – result-

ing in an additional $66 in fees.

The bill closely follows a recent study by the CFPB that determined some

institutions purposely “reorder” account holder debit card transactions from

high to low in order to maximize profits at the expense of consumers.

Compliance Corner

Chief Executive Officer – TexasReference #186Approaching $400 million in assets, Security First Federal Credit Union, located in the Rio Grande Valley, is seeking an executive to join their team as the next President/CEO. This experienced leader will have a minimum of five years of managerial experience with a financial background, excellent communication skills and the ability to work in a collaborative team environment.  A college degree is a must, while an MBA is preferred.  

Chief Executive Officer – FloridaReference #191Located in beautiful Palm Beach County, Florida, IBM Southeast Employees’ Federal Credit Union is seeking a strategic and innovative leader to continue with the vision and direction of this family-oriented, service focused and financially sound institution as their next President/CEO. A bachelor’s degree and 10 years of experience at the executive management level is required.

Chief Executive Officer – MontanaReference #144Celebrating 18 consecutive years as the Best Financial Institution in Missoula, Montana, Missoula Federal Credit Union is seeking a strong executive to continue with the vision and strategic direction for their next President/CEO. A bachelor’s degree and 10 years of experience at the executive management level is required. An advanced degree is preferred.

Chief Financial Officer – IowaReference #189Collins Community Credit Union, with over $730 million in assets, is looking for an executive to join their forward-thinking team as the Chief Financial Officer. A bachelor’s degree plus 10 years of experience in a senior finance management role within a financial institution are required. CPA certification is required and a graduate degree is strongly preferred. Candidates with an MBA/CPA will be given priority consideration.

Agriculture Commercial Lender – TexasReference #197Opportunity for seasoned commercial lender with agriculture experience. Position requires a strong credit foundation and existing client

network in the prospective communities. Internal Auditor – VirginiaReference #205Justice Federal Credit Union, serving Justice Across the Nation, is seeking an experienced Internal Auditor to fulfill the organization’s internal audit function. The ideal candidate will possess a bachelor’s degree in accounting or finance, an active CPA license, CIA designation and five-plus years of internal audit experience to include auditing within a credit union environment.

Chief Executive Officer – NebraskaReference #236A Nebraska financial institution is seeking a Chief Executive Officer to provide strategic leadership and direction for the future of this growing organization. A proven track record of excellence with over 10 years of financial experience, along with a bachelor’s degree in business or finance is required.

Chief Financial Officer – North DakotaReference #204Northern Tier Federal Credit Union, headquartered in Minot, North Dakota, with over $100 million in assets, is looking for an experienced management professional to assume the position of Chief Financial Officer. A bachelor’s degree and five-plus years of experience in an accounting management role are required; CPA is preferred.

Vice President, MIS – New YorkReference #242Nassau Educators Federal Credit Union is seeking a Vice President of Management Information Systems. Must have technical expertise in all facets of UNISYS large systems COBOL, utilities, DMSII, NDLII, computer system equipment configurations, communication equipment and software, FIS (MISER3) applications, LAN configurations, and the ability to supervise and manage all computer and machine operations. A college degree or a minimum of 10 years of experience in the MIS field is required.

Vice President Lending – PennsylvaniaReference #226A financial institution with $200 million in assets is seeking a Vice President to lead the lending operations and oversee a growing portfolio. Business lending experience is a

plus and a bachelor’s degree in business or finance is strongly preferred.

Operations Manager – PennsylvaniaReference #228A premier financial institution is in need of an Operations Manager. Individual will be responsible for enhancing member satisfaction through back office and retail operations. Ideal candidates should have knowledge of federal regulations that affect the operation of a financial institution. Candidates should also have a degree in business, finance or accounting, plus three years of relevant financial institution experience.

Vice President of Lending – TexasReference #220River City Federal Credit Union, a growing financial institution approaching $150 million in assets, is seeking a Vice President of Lending. A minimum of seven years of lending experience and a four-year degree are highly preferred.

Senior Web/Application Developer – TexasReference #214Financial institution is seeking a talented web application and .NET developer. A bachelor’s degree in software engineering, computer science, or a closely related discipline is preferred and five or more years of experience developing and supporting software applications, preferably in a Microsoft.NET/Microsoft SQL Server environment are required.

Chief Lending Officer – AZ, CA, FL, NM, PA and TX Reference #300Several billion dollar financial institutions are seeking Chief Lending Officers. These individuals will be responsible for all loan production, policy and procedure, monitoring and guiding subordinate loan staff, rates and product structures.  Twelve years of executive lending experience and a bachelor’s degree are required.

Interested candidates will send their resume in Word format to ESG@JMFA.com. Please include reference number. To confidentially explore, please contact one of our Executive Search Consultants at 866-264-5017 or visit www.jmfaesg.com.

JMFA Connections

Nurturing Ownership...continued from page 1

Goal:Reduce expenses.

Goal:Streamline processes.

Goal:Implement Intelligent business strategies.

Goal:Grow

Solution:Reach out to JMFA.

www.JMFA.com | 800.809.2307