BUILDING THE MODEL CREDIT UNION

Defined. Delivered. Together.

Your Solution: Expanding and Delivering

CUDA solutions are modular, providing you with the flexibility to utilise only what is relevant. Solutions are designed with members for the sole purpose of enhancing their business, ensuring business fit and compliance. Delivery using credit union owned shared services creates economies of scope, scale and replication of best practise, providing solutions and expertise not accessible as a standalone entity.

Representation

Lobbying for fair and proportionate legislative and regulatory treatment as the voice of CUDA Owners, securing fair deals from suppliers and presenting a positive image to stakeholders and society.

Key themes for 2020-2022 include new business opportunities in social and affordable housing, mortgage and business lending. We will advocate for Balance Sheet competitiveness through a wider range of investment and funding options, including intra-member liquidity mechanisms and loan syndication, the issue of bonds and securitisation.

In 2019 we delivered 3 regulatory successes – CP125 reform allowing more capable credit unions to increase lending, lower resolution and stabilisation levies, and the restoration of a level playing field with PCP providers. We also led multiple business model initiatives. Prior successes include loan diversification to facilitate additional lending, tailored SME regulations, personal insolvency application and the ability to transfer in and out of reserves.

Services

  • Lobbying for fair legislation and regulation
  • Lobbying for proportional treatment for capablemembers
  • Ensuring a level playing field versus competition
  • Securing competitive deals from suppliers
  • Presenting a positive image of members tostakeholders and society

Benefits

  • Permission to prudently offer more services, tomore members.
  • Cost savings on charges, levies and commercialcontracts
  • Reduced reserve and liquidity allocationrequirements
  • New segmental and product opportunities
  • Sector competitiveness

Strategy & Solutions

Business solutions that deliver tangible results. The key focuses are lending growth, improving market reach and member engagement, supported by innovation of complimentary products, processes and partnerships.

Our digital roadmap will extend market and product coverage to grow and diversify income, cut cost and improve business model agility. Hive’s member engagement and business intelligence functions will be expanded, including integration to Digital Marketing and banking systems to facilitate end-to-end processes. In Digital Marketing we plan new channels, optimisation of performance and outbound marketing. In addition to Online Member Onboarding, plug-in opportunities exist for the origination of personal loans at the point of sale (POS), credit scoring and data aggregation.

In 2019 Digital Marketing reached an audience of 2.7m creating 18,000 loan leads worth €117m. Hive was launched in 4 credit unions, processing 11,000 inbound loan leads worth €25m, our consent management plug-in for digital AGM packs provided ROI within 20 minutes of its first campaign. The SAM mortgage support framework has processed over 400 mortgages worth €50m since launch.

Digital Shared Services

• Advertising, campaign management and copy for loan lead generation on social media and Google

Hive

• Digital platform for member engagement, business intelligence and workflow management

Plug-ins

• FinTech plug-ins to enhance member engagement
and process efficiency

Services

• Innovation of complimentary new products, processes and partnerships
• Project support in conjunction with partners

Benefits

  • Implement a proactive member engagementstrategy
  • Higher income from improved market reach andmember engagement
  • Improved member experience from effectiveservice delivery
  • Cost saving versus 3rd party alternatives
  • Better business design and resource allocationby utilising business intelligence and sharing best practise

Training & Development

Role and function-based courses and toolkits to help staff, management and boards improve their effectiveness, develop new capabilities and attain CPD.

In 2019 we delivered 20+ high-quality events for 500+ attendees from 36 members providing 70 hours of CPD.

We will enhance existing courses and introduce Director Development and Asset Liability Management programs to enrich capabilities. A new online learning platform will provide convenience to busy staff, management and volunteers.

Services

  • Range of role and function-based courses
  • Continuous Professional Development certification
  • Toolkits to assist planning and operations

Benefits

  • Higher income from improved lending and selling
  • Cost savings from process efficiencies
  • Member experience from effective service delivery
  • Higher capability supports additional regulatorypermissions

Compliance

On-demand helpdesk and IT solutions to support credit unions fulfil their duty of care, meet PRISM requirements and internal governance challenges. Monitor all impacting legislation and regulations, updating policies as necessary.

CUDA will support members with expert advice on internal and external governance matters, meet evolving challenges such as Environmental, Social and Governance (ESG) and privacy, and enhance our CUSP and SAM solutions to facilitate more lending and other business development.

In 2019 we assisted members on topics including accrued interest, GDPR, MRR and use of ECB two-tier system and developed a new Top-Up Loan Credit Agreement.

Services

  • On-demand legal and regulatory helpdesk
  • Pre and post PRISM inspection support
  • Confidential internal governance advice
  • Compliance briefings
  • Monitor all impacting legislation and regulations,updating policies as necessary

Solutions

  • CUSP: repository of polices, guidance, self- assessments and a risk management system
  • Mortgage Framework (SAM): Full suite of supports with bespoke mortgage origination platform for consistent and compliant mortgage lending

Benefits

  • Cost saving versus 3rd party alternatives
  • Reduce staff time spent on compliance, freeingthem to focus on growth
  • Help bridge any internal expertise / experience gaps
  • Help reduce potential for regulatory enforcement
  • Higher capability supports additional regulatorypermissions