Welcome to Credit Union Conversations! In today’s episode, host Mark Ritter is joined by the industry’s leading expert, Mark Treichel, to uncover the mysteries of the NCUA exam and guide you through its complexities. With insights on risk management, cybersecurity, and evolving regulations, Mark Treichel offers invaluable advice on navigating credit union challenges, especially with a new administration in place. Tune in as they discuss everything from working through exam processes, the impact of office buyouts, to the current state of credit risk and empty office spaces. Plus, get an insider's look into the concept of regulation by enforcement and how credit unions can better manage their cybersecurity efforts. Stay with us to hear Mark's advice on reaching out and getting expert assistance on your next NCUA exam.

IN THIS EPISODE:

(00:00) Introduction

(01:34) The NCUA exam and a new administration

(09:27) Buyouts and requirements of working in person

(13:27) Credit risk management and empty offices

(19:10) Cybersecurity and regulation by enforcement

(27:53) Connect with Mark Treichel

KEY TAKEAWAYS:

• The change in administration, particularly moving from one political party to another, significantly influences the NCUA's priorities and approach. This shift often creates chaos as new leadership adjusts priorities and regulations.
• The NCUA is currently dealing with internal challenges, such as a hiring freeze, regulatory pauses, and staff buyouts. These factors contribute to uncertainty within the agency and affect its ability to fulfill its mission effectively. The chaotic environment could lead to turnover, with highly skilled employees either retiring or leaving for other opportunities.
• There is a focus on "regulation by enforcement," where policies are often clarified through enforcement actions rather than proper regulation. This creates ambiguity and strain on organizations, and there is a push for rules that strictly follow the intent of the law to avoid overreach and unnecessary penalties.

RESOURCE LINKS

Mark Ritter - Website

Mark Ritter - LinkedIn

With Flying Colors - Podcast

Mark Treichel - Website

Credit Union Regulatory Guidance - Podcast

BIO:

With 33 years of experience at NCUA, I've served in key roles, including Executive Director, Regional Director, Director of Special Actions, Supervisory Examiner, and Principal Examiner. Starting as a ground-level examiner, I rose to the organization's top. As Executive Director, I supervised Regional Directors, gaining unparalleled insight into NCUA's operations and decision-making processes.

Our Team

I lead a team of former NCUA experts with a combined experience of over 240 years in credit union regulation and supervision. This wealth of knowledge allows us to provide comprehensive, insider perspectives on all aspects of credit union operations and regulatory compliance.

How We Can Help

We offer assistance with a wide range of credit union challenges, including:

1. Examination preparation and response

2. Regulatory approval processes

3. Document of Resolution (DOR) issues

4. CAMEL code assessments and improvements

5. Risk management (credit, interest rate, liquidity, etc.)

6. Regulatory compliance (BSA, Fair Lending,...

Welcome to Credit Union Conversations! In this episode, we wrap up our series on the powerful partnerships between credit unions and small business owners with an inspiring entrepreneurship and financial collaboration journey. Host Mark Ritter is joined by George Florence from American Heritage Credit Union and Ross Hammer from Cape May, New Jersey, to explore how credit unions play a vital role in supporting ambitious entrepreneurs. From Ross’s unconventional path—dropping out of school and moving to Hong Kong—to securing an SBA loan with the backing of key mentors, this episode highlights the resilience and opportunity that credit unions help create. We spotlight Pennsylvania’s American Heritage Credit Union and its commitment to empowering small businesses. Stay tuned for valuable insights on lending, perseverance, and the unexpected opportunities that shape success!

IN THIS EPISODE:

• [2:38] George describes his role at American Heritage Credit Union
• [3:53] Ross shares his background
• [12:08] Ross drops out of school and moves to Hong Kong, and the inspiration he received from a book and wanting to be an entrepreneur
• [17:36] Applying for an SBA loan and getting support from key people and an unexpected windfall and a new venture
• [29:07] Ross connects with American Heritage Credit Union to apply for a small business lending loan
• [38:56] Ross advises lenders about giving people an opportunity

KEY TAKEAWAYS:

• Ross Hammer demonstrated relentless determination despite financial struggles. He hustled to secure funding for his food truck, even using Coinstar to cash in change and taking a chance on fantasy football, which ultimately led to an unexpected windfall. His story highlights the importance of persistence and thinking outside the box to achieve goals.
• Key figures played crucial roles in his entrepreneurial journey. Their belief in him, financial support, and guidance helped him transition from food trucks to real estate, proving that strong networks and mentorship can be life-changing.
• After initial failures in the food truck business, Ross pivoted to real estate, recognizing an opportunity in distressed properties. Instead of flipping houses for a quick profit, he focused on revitalizing neighborhoods and renting them out, eventually building a substantial portfolio. His story underscores the value of adapting to market conditions and thinking long-term.

RESOURCE LINKS

Mark Ritter - Website

Mark Ritter - LinkedIn

American Heritage Credit Union - Website

Rich Dad, Poor Dad - Book

Zest Cape May - Website

Taco Caballio Tequileria - Website

George Florence - LinkedIn

Welcome to Credit Union Conversations! This week, we continue our series exploring the impactful partnerships between credit unions and small business owners. Host Mark Ritter is joined by Josh Green from American Heritage Credit Union and Ted Van Beuren, the visionary behind United Sports in Pennsylvania. This episode delves into the successful collaboration between these two entities, showcasing how a strong credit union partnership can empower businesses to thrive. Discover how American Heritage has supported United Sports' growth, learn about Ted's entrepreneurial journey, and gain valuable insights for aspiring business owners. Today, we're heading to Pennsylvania to spotlight the American Heritage Credit Union—don’t miss it!

IN THIS EPISODE:

• [1:33] Josh shares his role at American Heritage Credit Union
• [3:41] Ted reveals how he saw the need for the sports complex he developed and gives his forecast on soccer in the United States
• [12:20] Ted shares some of the challenges of operations
• [15:00] Josh shares how American Heritage and United Sports partnered
• [18:00] Ted feels that working with the credit union has expedited the services they need at United Sports
• [19:51] Ted advises prospective entrepreneurs

KEY TAKEAWAYS:

• Building strong partnerships is crucial for business success. The importance of cultivating long-term, mutually beneficial relationships between businesses and their financial institutions cannot be overstated. The partnership between United Sports and American Heritage Credit Union exemplifies this, demonstrating how a strong relationship can go beyond simple lending and encompass a range of support, from depository services to community involvement.
• Patience and a long-term vision are required in the entrepreneurial journey. Careful research, planning, and a willingness to adapt to unforeseen challenges are essential. You must demonstrate perseverance and a steadfast commitment to the long-term goal.
• United Sports and American Heritage Credit Union is committed to giving back to the community. This shared value strengthens their partnership and creates a positive impact beyond their core business activities.

RESOURCE LINKS

Mark Ritter - Website

Mark Ritter - LinkedIn

United Sports - Website

American Heritage Credit Union - Website

Josh Green LinkedIn

Ted Van Beuren LinkedIn