Connect Archive

  • Catalyst Connect - January 19, 2021

    What Should You Be Doing for CECL in 2021? Despite NCUA Chairman Rodney Hood’s best efforts to push off the impending CECL transition, it appears January 1, 2023 remains the effective date of compliance for most credit unions – and that means, now is the time for credit unions to prepare. Good news, Catalyst Strategic Solutions' CECLution platform is now scheduled for launch this spring!

    P2P...Made Possible by Technology, Powered by Trust: Person-to-person. Peer-to-peer. P2P. All different ways to describe online technologies that essentially allow consumers to transfer funds from their financial institution account to another individual's account via the Internet or a smartphone app. But techy definitions aside, many consumers simply define P2P as: convenience. Learn more about P2P in this week's blog

    Catalyst Corporate Announces Changes to Board and Committees: As of January 2021, there have been several changes to Catalyst Corporate's board of directors and committees. We appreciate the commitment and dedication of all these – and the many other – volunteers who provide leadership for the organization. You can find additional details on the recent changes here

    Training Webinars: TranZact Administration (January 27), ACHOne Receipt (February 3) and Deposit Capture Research & Accounting (February 10).

  • Catalyst Connect - January 12, 2021

    Pandemic Accelerates P2P Payments Trend: According to Joe Sullivan, CEO and Founder of Market Insights, Inc., the COVID-19 pandemic has fast-tracked several underlying financial services trends, especially mobile person-to-person (P2P) payments. Sullivan will share insights based on recent industry research during a virtual presentation entitled: To P2P or Not to P2P…That is the Question. The 45-minute presentation will be held February 11 at 1 p.m. Central Time. Learn more.

    Are Your Investment Policy Limits Working Against You? The record low-rate environment of the COVID-19 pandemic has shifted the focus of some portfolio managers, while others remain tied to pre-pandemic policy parameters. Unfortunately, those parameters may be working against your long-term interests.

    2020 ALM Survey Results Up 26.8 Points: Every year, Catalyst Strategic Solutions surveys its Asset/Liability Management Service clients to ensure ALM products and services meet expectations. The 2020 survey results were overwhelmingly positive. The overall Net Promoter Score increased 26.8 points over the previous year, and analysts received high marks for team knowledge.

    Mark Your Calendar...2021 Important Dates: Is your 2021 calendar up-to-date with our training webinars, events and holidays? For starters, Catalyst Corporate will close on Monday, January 18 to observe MLK Day. There's also the Annual Meeting in May, the Economic & Payments Forum in September and a host of online training opportunities throughout the year. View the Training & Events Calendar.

    Training Webinars: ACHOne Administration (January 13), TranZact Administration (January 27), ACHOne Receipt (February 3) and Deposit Capture Research & Accounting (February 10).

  • Catalyst Connect - January 5, 2021

    Reflections and Projections...Annual Member Update from CEO Bruce Fox: Although the past 12 months unfolded much differently than expected, Catalyst Corporate remained focused on its strategic plan and delivered strong results for its membership. In this year's Member Update, President/CEO Bruce Fox recaps key 2020 initiatives and plans for the road ahead. Watch the five-minute video here. And for forward-looking takeaways on the economy, check out 2021 Insights & Outlooks, now available on-demand.

    Advisory Service Receives Record-High Rating for Second Consecutive Year: To gauge satisfaction and ensure quality service, Catalyst Strategic Solutions surveys its Advisory Service clients on an annual basis. With an overall Net Promoter Score of 96.5, this year's results surpassed the record-high rating established in 2019. 

    As Painful as it May Be...Invest! Although we've officially said goodbye to 2020, the credit union industry is still adapting to the new normal it ushered in. One challenge we face is the low interest rate environment. According to Catalyst Corporate Investment Officer Leah Schlangen, it's time to rip the Band-Aid off and invest

    Are You Prepared for the New Stimulus Payments? The Coronavirus Response and Relief Supplemental Appropriations Act of December 27, 2020, authorizes a second round of Economic Impact Payments to be made by the IRS by January 15, 2021. Release of ACH files to financial institutions was set to begin as early as December 30 or 31, for settlement this week. Learn more.

    Training Webinars: ACHOne Administration (January 13),  TranZact Administration (January 27) and ACHOne Receipt (February 3).

  • Catalyst Connect - December 22, 2020

    The Basics of Backtesting: At one time or another, you've probably heard the term backtesting. But what does it really mean? Backtesting is simply the comparison of your actual income statement to your projected income statement. This can provide valuable insights into the accuracy and reasonableness of your interest rate risk model. Learn more in this helpful blog from Catalyst Strategic Solutions Senior ALM Consultant Theresa Batoon.

    2021 Insights & Your Fingertips! In case you missed it – or want to review it again – the informative content from this year's Insights & Outlooks economic panel is now available on-demand. Check out what our experts had to say about the year ahead. 

    The Gifts of 2020... If the year 2020 could be characterized, I would relate it to Uncle Eddie, from National Lampoon’s Christmas Vacation – great intentions, but always seems to say or do the wrong thing. As we reflect, the year started with great intentions. After all, we were in the longest bull market in U.S. history, with no real end in sight. Then the pandemic hit, and it has been the gift that keeps on giving.

    Ho Ho Ho...and Happy NEW Year! In observance of the upcoming holidays, Catalyst Corporate will be closed on December 25 and January 1. Additionally, Member Services support will end at 8 p.m. Central Time on December 24 and December 31. View the full holiday schedule here.

    Training Webinars: ACHOne Administration (January 13). 

  • Catalyst Connect - December 15, 2020

    Election & Vaccines Among Topics for Insights & Outlooks Economic Panel: Hundreds of credit unions gained actionable insights during the recent Economic & Payments Forum. But that was two months ago, and a few things have changed the landscape since then, including an election and the imminent rollout of COVID-19 vaccines. To examine recent developments, Catalyst Corporate will host the Insights & Outlooks virtual event on Thursday, December 17 at 1 p.m. Central Time. Register today!

    Home Sweet Home...Office? Assessing Enterprise Risk Beyond CU Walls: The concept of working from home was foreign to many until the World Health Organization officially declared the COVID-19 outbreak a pandemic. Nine months later, what was once a culture shock has slowly become “normal." However, an expanded remote workforce comes with its own set of risks as credit unions deal with highly confidential data daily. For this reason, it’s important to account for these various types of risks.

    Trial Periods for ACHOne Optional Modules End Soon: Catalyst Corporate recently finished the successful transition of 600 credit unions to its robust new ACH platform – ACHOne. With migration to this platform, users received free, three-month trial access to five of ACHOne’s optional service modules. The trial period for these services ends December 31, 2020.

    Conference Board Projects 3 Potential Scenarios for U.S. Economy: The Conference Board has just released its economic outlook for 2021. Not surprisingly, the well-regarded organization has projected a range of scenarios – largely based on the continued impact of the COVID-19 pandemic. Learn more.

    Training Webinars: Insights & Outlooks 2021 (December 17) and ACHOne Administration (January 13).