Credit Union Conversations

Mark Ritter
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Credit Union Conversations

Welcome to Credit Union Conversations podcast with your host, Mark Ritter, a forward-thinking CEO, who excels in helping credit unions, small businesses, and real estate investors succeed. Join Mark as he explores current trends, interview industry experts, and get fresh insights on optimizing your lending operations and delivering the best possible services to credit union members. More about your host: Mark Ritter is the CEO of MBFS & Nu Direction Lending and an expert in credit unions and business lending. His primary role at MBFS is overseeing the strategy of helping credit unions assist members with business needs and consulting with credit unions on planning the delivery of services to their membership. In 2002, Mark started a large central Pennsylvania credit union’s business lending program as “one person and a desk” with no policies, products, staff, systems, or business members. That program grew to be one of the top ten in the nation. In 2012, he took on the challenge of being the CEO of a business lending CUSO. Mark was the fifth CEO in five years for the organization, which lost money every month of its existence. Since joining MBFS, Mark increased the number of credit unions the CUSO and revenue by over 10x and ensured positive cash flow every full year he’s been at the CUSO. More importantly, MBFS has helped countless credit union members gain the financing they need for business and investment needs. Mark is a native of Berwick, PA in northeast Pennsylvania, where he was a member of his high school’s nationally ranked and state championship football team. After high school, Mark hung up his cleats to work for the Penn State Nittany Lions full-time as a student assistant while attending Penn State as an undergrad. During this time Penn State transitioned to the Big Ten and culminated in Penn State’s first Big Ten Championship and a trip to the Rose Bowl. Mark remains an avid Penn State supporter. Today Mark lives in Bucks County, PA outside of Doylestown with his wife and two teenagers.

  1. The World of Financing Outside CUs With Scott Jordan

    4 DAYS AGO

    The World of Financing Outside CUs With Scott Jordan

    This week, Mark welcomes Scott Jordan from the Alternative Finance Network to explore the unique landscape of alternative lending in the cannabis industry. Scott shares insights from his career journey, breaking down who the key lenders are and what makes alternative financing work for this fast-growing sector. From discussing the legal challenges at state and federal levels to predicting the industry’s growth to $100 billion by 2027, Scott offers a deep dive into cannabis financing and what the future may hold for businesses and lenders. IN THIS EPISODE: [2:20] Scott shares a bit about himself and his career journey[4:41] Scott explains who the lenders are in the Alternative Finance Network and the risks and perceived risks[9:36] Who are the customers of Alternative Finance Network, and discussion and examples of exit strategies for those businesses[14:23] Discussion of federal and state legalities for providing financial services to the cannabis industry[20:30] How the lending environment changed since the availability is more widespread[23:25] Scott gives his predictions of where the cannabis business is going from the business and financial services side  KEY TAKEAWAYS:  Alternative financing for cannabis-related industries comes from diverse sources, including cannabis-friendly banks, credit unions, leasing companies, and specialty lenders. Many of these funds ultimately trace back to banks or wealthy private investors, creating a network that enables specialized lending.In alternative lending, high interest rates can't compensate for risky investments with low repayment potential. Successful lenders look for market mismatches, where perceived risk is higher than actual risk, creating opportunities for smart, lower-risk lending.Scott predicts continued growth in the cannabis industry, predicting it will reach $100 billion by 2027. He anticipates gradual state-by-state legalization and eventual federal regulation, especially for safer, cashless payment solutions. They’re optimistic about expanding services, including mainstream credit card options and international market entry, and see social equity initiatives as pivotal for industry inclusivity and growth. RESOURCE LINKS Mark Ritter - Website Mark Ritter - LinkedIn Scott Jordan - LinkedIn Alternative Finance Network - Website Scott Jordan - Email BIOGRAPHY:  I created the Alternative Finance Network to serve marijuana and hemp business owners by providing one-stop shopping for all your cannabis loan needs. Whether it is financing real estate, equipment, working capital, or accounts receivable I have a funding source who can fund that loan AND get you the best possible rate and terms for your needs.

    28 min
  2. Catching Up With Retirement Life of Mark Brennan

    DEC 10

    Catching Up With Retirement Life of Mark Brennan

    This week, Mark Brennan joins Mark to discuss his incredible journey in the credit union industry, from the highs and lows to his experiences in leadership and the transition into retirement. Mark’s had a remarkable career, spending nearly 27 years with Clearview Federal Credit Union, including 17 years as CEO, where he brought his unique HR and strategic planning background to the role.  IN THIS EPISODE: [2:53] Mark Brennan shares his background with US Airways and Clearview Federal Credit Union[7:59] The credit union was presented as a company benefit[17:36] Changing the name of the credit union and welcoming the community-required education[23:05] Collaborating with other credit unions and succession planning[29:16] Mark advises C-Suite people wanting to move forward[31:00] Mark shares his retirement lifestyle and his parting thoughts on the credit union industry KEY TAKEAWAYS:  Presenting a credit union as an employee benefit highlights its value and encourages employees to explore how it can support their financial well-beingCredit unions prioritize community over competition, collaborating to strengthen local support, unlike banks that often focus on acquisitionsWorking at a credit union can be deeply fulfilling. Mark Brennan reflects fondly on his time at Clearview Federal Credit Union, sharing that the relationships with his coworkers and the supportive environment made it the highlight of his career RESOURCE LINKS Mark Ritter - Website Mark Ritter - LinkedIn Applied Valuation Services - Website Mark Brennan - LinkedIn

    36 min
  3. It's A New World For Real Estate

    NOV 12

    It's A New World For Real Estate

    This week, Mark is joined by Greg Schatzke of Servion to discuss the new real estate agency rules and how they impact credit unions. Greg also gives us a state of the world and discusses untapped options for credit unions. IN THIS EPISODE: [2:33]Mark and Ashley introduce themselves[4:02] Servion Group has five businesses under its umbrella[7:00] Rules have changed for real estate contracts[11:14] Greg explains how the NAR changes have created additional paperwork, and there are no standardized documents across the nation[17:06] Ashley explains how this could open the door to discrimination[21:28] What sets mortgage lenders apart?[26:40] Ashley recommends that credit unions take assessments of their performance metrics in all phases of their business[28:27] Ashley reveals the key to success for a real estate agency partnering with a credit union[30:11] The guests make their predictions for the coming years for credit unions, real estate commission structures, and interest rates KEY TAKEAWAYS:  Servion has five business units under the Servion Group: Servion Mortgage, Servion Realty, Servion Residential Title, Servion Financial Advisors and Servion Commercial Loan Resources. All of these businesses work with credit unions across the country.The NAR settlement has reshaped the real estate market, increasing buyers' responsibility to understand and negotiate agent commissions. Nationwide, buyers now need to sign a representation agreement before viewing homes, pushing for greater commission transparency. States like Minnesota, already familiar with buyer representation, will reinforce these practices as buyers adjust to these new requirements.The NAR settlement means that casual home visits are more restricted—buyers can’t simply call the listing agent to see a property unless they've signed a buyer representation agreement. This adds transparency but makes the process more complex. The exception is open houses, where buyers can still look without needing an agreement, but that could lead to additional costs for the buyer down the road. RESOURCE LINKS Mark Ritter - Website Mark Ritter - LinkedIn Servion - Website Ashley Rabamahefa - LinkedIn Greg Schatzky - LinkedIn Contact Servion at 800-631-3111 BIOGRAPHY:  Greg Schatzke is the VP of Mortgage for the CUSO Servion based in Minnesota.  In his role, Greg is responsible for overseeing the daily operations of Servion Mortgage and their 500+ retail, correspondent and wholesale partnerships. Ashley is a dedicated professional in the real estate industry, currently serving as an Agent Coordinator and Realtor at Servion Realty. With a background as a Property Manager overseeing portfolios of over 500 units and leading multi-million dollar remodeling projects, Ashley's expertise extends across various facets of real estate. Driven by a passion for helping people, Ashley transitioned to residential real estate as a Realtor, where she finds fulfillment in guiding clients through the home buying and selling process. Her commitment to making life-changing decisions more accessible for others is the cornerstone of her approach. Beyond her work in real estate, Ashley...

    36 min
  4. One-On-One With Brian Waugaman of Erie FCU

    OCT 29

    One-On-One With Brian Waugaman of Erie FCU

    Mark goes 1-on-1 with Erie FCU CEO Brian Waugaman on various topics in and out of the credit union space. What's it like to live in Erie? How did he navigate becoming CEO after a long tenure at the credit union? What's working and what needs work today? What is Brian's crystal ball on the future? All this and more as Mark Ritter and Brian chat it up.  IN THIS EPISODE: [1:32] Brian shares his career journey, and he arrived at Erie FCU[4:56] The history of Erie FCU and managing the business around Erie’s winter conditions[10:33] Brian discusses working his way through the organization and the importance of community[16:45] Brian talks about the process of becoming CDFI certification and his hopes to provide funding for small business owners[21:32] Brian discusses how to drive commerce, get involved in the community and market CDs to benefit members[27:50] What is the future of the credit union space    KEY TAKEAWAYS:  When promoted within a company, success hinges on building trust and fostering cooperation with colleagues. Clear communication, defined responsibilities, and accountability are essential. Stay focused on the organization's vision and mission to lead effectively.Erie FCU refined its vision and mission to focus on becoming the most trusted financial resource in the region and delivering responsible financial solutions that meet community needs. These guiding principles shape the credit union's daily efforts and long-term success.Erie FCU sees technology and innovation as key future drivers. While member satisfaction has declined compared to larger banking competitors, the credit union recognizes the need to adapt to evolving technological expectations, similar to the "Amazon effect," to stay competitive and meet member needs. RESOURCE LINKS Mark Ritter - Website Mark Ritter - LinkedIn Brian Waugaman - Linkedin Erie FCU - Website BIOGRAPHY:  Brian Waugaman is a longtime veteran of Erie FCU and has been its CEO for the last ten years. He is well-rounded in his credit union skills and touched virtually all aspects of the institution during his tenure. Erie FCU is a CDFI focused on the communities in northwest PA.

    31 min
  5. Talking Marketing With Bill McKenna

    OCT 15

    Talking Marketing With Bill McKenna

    Welcome to this episode of Credit Union Conversations with Mark Ritter, where we delve into the strategies that set credit unions apart in a competitive financial landscape. Today, Mark is joined by Bill McKenna from McKenna Marketing, who brings a wealth of experience from the advertising industry to the credit union space. Together, they explore the critical importance of building strong, core relationships with members, ensuring they feel valued and connected to their credit union. This connection is essential to prevent members from seeking alternatives and to maintain their loyalty. Bill shares actionable insights on branding, the challenges credit unions face in attracting and retaining members, and the evolving needs of the credit union community. Tune in as they discuss how a well-executed vision and a focus on member relationships can propel credit unions to the forefront of the industry. IN THIS EPISODE: [0:24] Mark invites the listener to check out MBFS, which is an a la carte service provider[1:22] Mark introduces Bill, and he shares his journey from the advertising business to the credit union space[6:22] Bill describes what McKenna Marketing does, and Mark and Bill discuss the evolving credit union from days gone by[10:29] Bill discusses four topics that will remove obstacles and make way for the growth of your credit union, and they discuss which credit unions need deposits and not loans[15:37] Bill outlines the problems credit unions are having in attracting new members and keeping the members they currently have[19:20] Discussion surrounding competition and rising to the top of the competition[25:04 Discussion surrounding the sales and service culture and the benefit of face-to-face consultations KEY TAKEAWAYS:  The branding of your credit union is critical for recognition to your communityA credit union must have a vision of where they are going, understand what opportunity looks like, and determine whether it can be a reality. Then, you must execute those ideasBuilding a relationship with members is the most essential thing a credit union can do. People want to know that you care about what’s important to them, so create value in your marketing message RESOURCE LINKS Mark Ritter Website Mark Ritter LinkedIn MeKenna Marketing - Website Bill McKenna - LinkedIn BIOGRAPHY:  My passion is to learn more about you and your companies' goals. I'm passionate about building relationships, starting conversations, sharing ideas, and adding value to your organization. I've learned first-hand that no one person has all the answers. I'll learn from you first then we will combine our knowledge, experiences and expertise with the right partners to magnify opportunities, empower growth, and achieve results. I've had the privilege of working with more than 500 credit unions and community banks nationwide on marketing and growth strategies. I don't know everything, but I've seen first-hand what works, and what does not. Every partner I've chosen to be part of McKenna Marketing Network brings a wealth of expertise, experience, vision and insights. It's not one size fits all - It's about identifying what works for you.  My roles have including Art Director, Creative Director, and Vice President of Marketing and New Business Development for several marketing and advertising agencies located in New York, New Jersey, and Pennsylvania. I'm the former President

    31 min
  6. Time To Organize Your Organization

    OCT 1

    Time To Organize Your Organization

    How does Julie get one of the most laid-back CEOs to organize the company and get the team focused? Find out when Julie and one of her most difficult engagements discuss the EOS process and benefits.  IN THIS EPISODE: [0:26] Mark describes how Julie has been a catalyst for MBFS[3:22] Julie shares her background that has brought her to the position she holds today[5:36] Julie defines EOS (Entrepreneurial Operating System) and outlines the tools: Vision, Traction, Healthy and she describes the type of companies she works with. Mark describes his need for these services[9:13] Julie describes the types of issues companies are experiencing, and she discusses delegation and leadership[13:46] Julie shares how she approaches an established CEO[16:40] Discussion about the traction component and the correct approach to vision creation and problem-solving[23:51] Julie shares personal information about her life   KEY TAKEAWAYS:  EOS focuses on Vision, Traction and a Healthy environment for your businessWe live in a 90-day world, so leaders should meet every 90 days to ensure everyone is clear on the vision and analyze how the last quarter met those goals. An organization should set priorities for the next 90 days to ensure progress toward achieving the one-year plan, the three-year goal, and the ten-year targetEOS is a program that teaches leaders to create leaders and ultimately makes everyone in the organization responsible for some portion of the vision you have for your business RESOURCE LINKS Mark Ritter Website Mark Ritter LinkedIn EOS - Website Julie Markee - LinkedIn Julie's Chicken Blog BIOGRAPHY:  Julie Markee is a lifelong entrepreneur who started her first business at 12 when she was the go-to swimming instructor in her neighborhood.  She graduated from the University of Washington with a degree in Chemical Engineering and began her career as a process engineer. While her engineering mind allows her to find the quickest path to achieve the desired results intuitively, her real magic is her excellent communication skills that help others see the path and dare to follow along with her. What’s behind that magic? Her passion for people and her desire to help them reach their full potential.  Julie is now an EOS implementer for companies nationwide--including MBFS.

    28 min
  7. State of Advocacy and Associations With Samantha Beeler

    SEPT 17

    State of Advocacy and Associations With Samantha Beeler

    What type of impact does credit union advocacy make? How important is it to the success of credit unions? Mark and Samantha Beeler of LSCU talk about everything that goes on at our trade associations outside of the conferences we attend. Also, what is the future of trade associations for credit unions? IN THIS EPISODE: [0:25] Mark provides information about the services of MBFS and how he began his position at a credit union[2:32] Samantha shares her background, what brought her to her current position and an overview of the LSCU[5:59] Samantha discusses how LSCU is an advocate for credit unions and how they lobby lawmakers about what credit unions are doing in their communities[8:30] Discussion surrounding the familiarity of senators and members of Congress with the credit union space and how to take that sentiment and turn it into policy, and the differences between the accessibility of state and federal officials[13:10] Discussion of topics the LSCU is currently fighting for[17:28] Discussion of why LSCU is thriving and ways for Credit Unions to benefit from the LSCU without attending a conference[23:43] Samantha talks about becoming a partner with the National Trade Association   KEY TAKEAWAYS:  LSCU represents the credit unions in Florida, Georgia and AlabamaThe Foundation is well known in the region because it helps with disaster response and professional development. The LSCU assists credit unions through a for-profit solution, advocacy or foundation solutionLSCU is rolling out a program called Communities over a Connect platform, a free way for credit unions to gather RESOURCE LINKS Mark Ritter Website Mark Ritter LinkedIn Samantha Beeler - LinkedIn Samantha Beeler - Newsletter BIOGRAPHY:  Samantha Beeler is the President of the League of Southeastern Credit Unions (LSCU), the trade association for Georgia, Florida, and Alabama credit unions. She began her credit union journey at the Northwest Credit Union Association before transitioning to LSCU as its leader.

    28 min
  8. Checking In With Bryan Eichenbaum of American Heritage

    SEPT 3

    Checking In With Bryan Eichenbaum of American Heritage

    Bryan and Mark go round-robin on the state of the lending world and working with partners to build your lending program. What's the state of the world like in 2024? Bryan looks into his crystal ball to discuss what volumes will be like in 2024 and 2025. What's it like to get pitched by every potential lending partner in America every week? How do you separate the good partners from the pretenders? IN THIS EPISODE: [1:43] Brian shares his background story and that of American Heritage[5:34] Brian reflects on how he ended up in the credit union space[9:29] Brian discusses the last four volatile years in the credit union field[13:45] Discussion of the anticipated events for 2024, what actually transpired, and predictions for the future.[21:22] Discussion of FinTechs and Bryan’s appreciation of them if they have shared values and common ideals[27:04] Discussion of NCUA, being transparent and doing due diligence to develop a clear plan [29:54] Brian discusses AI and the displacement of financial institutions, and he uses UBER as an example[33:07] Brian reflects on mistakes and lessons learned   KEY TAKEAWAYS:  Today, we need to price the secondary market, meaning not just the rate but making sure we're originating based on our guidelines and practices. Then, we should consider making every loan on our balance sheet sellableFrom a member impact, this higher inflationary period meant higher loan payments and home purchase costs. Everything was higher, and you were getting less for your money. The credit impact was higher delinquencyMore importantly than having a plan to use FinTech, you must have a good problem to solve. If you don't have a significant problem, don't work with FinTech to implement a solution. Implement and work with a FinTech to solve a problem you're dealing with today RESOURCE LINKS Mark Ritter Website Mark Ritter LinkedIn Bryan Eichenbaum  - LinkedIn BIOGRAPHY:  Bryan Eichenbaum is the current SVP of Consumer Lending for American Heritage Credit Union, a $5B Credit Union headquartered in Philadelphia. He has over 20 years of experience in lending at various credit unions in New York and New Jersey. Bryan is considered an expert in cultivating strategic opportunities, building niche products and services that align with credit union demographics, mission and values, delivering strong business outcomes that build capital and sustained growth and positions credit unions to remain viable and relevant in a changing financial and economic landscape.

    36 min
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About

Welcome to Credit Union Conversations podcast with your host, Mark Ritter, a forward-thinking CEO, who excels in helping credit unions, small businesses, and real estate investors succeed. Join Mark as he explores current trends, interview industry experts, and get fresh insights on optimizing your lending operations and delivering the best possible services to credit union members. More about your host: Mark Ritter is the CEO of MBFS & Nu Direction Lending and an expert in credit unions and business lending. His primary role at MBFS is overseeing the strategy of helping credit unions assist members with business needs and consulting with credit unions on planning the delivery of services to their membership. In 2002, Mark started a large central Pennsylvania credit union’s business lending program as “one person and a desk” with no policies, products, staff, systems, or business members. That program grew to be one of the top ten in the nation. In 2012, he took on the challenge of being the CEO of a business lending CUSO. Mark was the fifth CEO in five years for the organization, which lost money every month of its existence. Since joining MBFS, Mark increased the number of credit unions the CUSO and revenue by over 10x and ensured positive cash flow every full year he’s been at the CUSO. More importantly, MBFS has helped countless credit union members gain the financing they need for business and investment needs. Mark is a native of Berwick, PA in northeast Pennsylvania, where he was a member of his high school’s nationally ranked and state championship football team. After high school, Mark hung up his cleats to work for the Penn State Nittany Lions full-time as a student assistant while attending Penn State as an undergrad. During this time Penn State transitioned to the Big Ten and culminated in Penn State’s first Big Ten Championship and a trip to the Rose Bowl. Mark remains an avid Penn State supporter. Today Mark lives in Bucks County, PA outside of Doylestown with his wife and two teenagers.

Information

  • Creator
    Mark Ritter
  • Years Active
    2022 - 2024
  • Episodes
    71
  • Rating
    Clean
  • Copyright
    © Copyright 2024 Credit Union Conversations
  • Show Website
    Credit Union Conversations

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