Bits & Banks 路 Episode 23
Bits & Banks - With Paul James Jockisch - Episode 23
A changing borrower, a moving target for credit risk, and a new era of payments. How should credit unions respond?
In the latest episode of Bits & Banks, we sat down with Paul Jockisch, SVP and CFO at Stanford Federal Credit Union, to discuss what serving a digital-first membership looks like, from understanding the HENRY borrower to rethinking credit risk and keeping pace with how money moves.
Key Highlights from the podcast:
饾棫饾椀饾棽 饾棝饾棙饾棥饾棩饾棳 饾棔饾椉饾椏饾椏饾椉饾槃饾棽饾椏: 饾棝饾椂饾棿饾椀 饾棙饾棶饾椏饾椈饾棽饾椏, 饾棥饾椉饾榿 饾棩饾椂饾棸饾椀 饾棳饾棽饾榿
A high income can come with a surprisingly complex financial life. Think stock compensation, a mortgage, young kids, ageing parents and competing savings goals. As Paul explains, members aren't waking up wanting another financial product. They want help making sense of it all.
饾棓 饾棖饾椏饾棽饾棻饾椂饾榿 饾棪饾棸饾椉饾椏饾棽 饾棗饾椉饾棽饾榾饾椈'饾榿 饾棫饾棽饾椆饾椆 饾榿饾椀饾棽 饾棯饾椀饾椉饾椆饾棽 饾棪饾榿饾椉饾椏饾槅
How do you assess someone with substantial stock compensation, significant assets but limited income, or no established credit history? Paul discusses how RSUs, asset depletion models and employment relationships can open up new ways to understand a borrower's financial picture.
饾棫饾椀饾棽 饾棙饾棶饾椏饾椆饾椂饾棽饾榾饾榿 饾棪饾椂饾棿饾椈饾棶饾椆饾榾 饾椉饾棾 饾棖饾椏饾棽饾棻饾椂饾榿 饾棪饾榿饾椏饾棽饾榾饾榾 饾棤饾棶饾槅 饾棥饾椉饾榿 饾棔饾棽 饾椂饾椈 饾榿饾椀饾棽 饾棖饾椏饾棽饾棻饾椂饾榿 饾棩饾棽饾椊饾椉饾椏饾榿
A change in direct deposits or spending behavior may tell a story long before a missed payment does. Connecting these signals could help credit unions reach members earlier, when a conversation, a financial product or some guidance could make a difference.
饾棪饾榿饾棶饾槅饾椂饾椈饾棿 饾椂饾椈 饾榿饾椀饾棽 饾棛饾椆饾椉饾槃 饾椉饾棾 饾棛饾槀饾椈饾棻饾榾
Members don't think in terms of ACH, FedNow, cards or stablecoin rails. They want their money to move where they need it, safely and seamlessly. For credit unions, that raises a bigger question about the value they bring beyond the transaction.
