For Media Inquiries contact Caroline Schaffer @ cshaffer@sdfcu.org


Tuesday, December 13, 2016
State Department Federal Credit Union Saves Members $1.1 Million While Closing Mortgages for Members in the U.S. and Overseas

 

SCOTTSDALE, A​riz., CU Realty Services welcomes State Department Federal Credit Union to elite Million Dollar Club. A desire to better meet the real estate and mortgage needs of a geographically diverse member base was the catalyst behind State Department Federal Credit Union’s (SDFCU) 2004 implementation of HomeAdvantage​®​. quote from KatieToday, the CU has not only helped thousands of members buy and sell their homes, but it has also delivered more than $1.1 million in HomeAdvantage Cash Rewards along the way. While hundreds of CUs and CUSOs across the U.S. offer HomeAdvantage to its members, SDFCU is one of only eight to surpass the million dollar milestone and join the program’s prestigious Million Dollar Club.The Washington, D.C.-based credit union serves a unique group of more than 73,000 members. Many—including Department of State foreign service officers, diplomats and ambassadors—live and serve outside of the U.S. Regardless of their location, SDFCU helps members navigate the search for and purchase of a U.S.-based home, often while they are still living overseas.

A quote from KATIE

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HomeAdvantage, a turnkey real estate program offered by CU Realty Services, makes it possible by offering members a one-stop, home buying experience. Members can visit the site from anywhere in the world to search for homes, connect with local real estate agents and earn HomeAdvantage Cash Rewards—an average of $2,200 per transaction—at closing. “It gives us the ability to tell our members this [SDFCU] is where they will not only get their mortgage,” said Katie Gillogly, manager of mortgage lending at SDFCU, “but where they will get all their home buying needs met—from A to Z.”

SDFCU’s Million Dollar Club success is tied to their members’ use of the HomeAdvantage agents. “We have members purchasing homes they’ve never stepped inside. Our HomeAdvantage agents provide videos of homes and neighborhoods and will often work with the member for six months to a year before they come back to the states,” said Gillogly.

While Cash Rewards help attract members to the program, Gillogly says providing them with an experienced real estate agent gives members a sense of security. “The relationship we have with the HomeAdvantage real estate agents is critical. These agents are not working with the average home buyer,” said Gillogly. “At any given time, about nine to 10 percent of our members are overseas. Our agents understand their unique needs and are veterans at navigating our members through this process. For us, the HomeAdvantage program is about improving the member experience by giving them what they need for their very specific, home buying situations.”

About CU Realty Services, LLC
CU Realty Services provides real estate services to credit unions across the nation, helping them increase their purchase mortgage business. Launched in 2001, the CUSO has worked with more than 100 credit unions and thousands of their members. CU Realty’s range of web-based tools helps home buyers find homes, research neighborhoods, calculate costs, connect to experienced real estate agents, and earn a cash reward. By offering this program to members, credit unions are able to achieve significant increases in their purchase mortgage business.
About SDFCU
State Department Federal Credit Union is a member-owned full-service financial institution that is committed to serving its over 73,000 members worldwide. With $1.7 Billion in assets, SDFCU offers a wide range of financial products and special services that address the diverse and unique needs of its members. Visit SDFCU ​www.sdfcu.org.


Friday, July 15, 2016
Consumers Now Can View Credit Card Data alongside Checking and Savings from Their Online and Mobile Banking Solutions

 

- DULUTH, Ga. & ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Digital Insight, an NCR company, and PSCU today announce new credit card management capabilities that will enable consumers to access credit card accounts alongside checking and savings accounts in online and mobile banking applications.

Known as Card Management Services for Digital Banking, the new service will give consumers a fast and easy way to manage their credit card accounts via web browsers, smartphones and tablets. Mutual customers of Digital Insight and PSCU can offer their consumers the ability to cancel a credit card permanently, report a lost or stolen card and temporarily suspend a card online in a self-service manner. Consumers also can view their credit card accounts and transaction history in real time. All of these new features help reduce the costs associated with credit card fraud and call center inquiries./p>

Digital Insight and PSCU’s platforms integrate APIs, which allow credit card account and transaction data to flow seamlessly between the two platforms in real time. Digital Insight uses PSCU's Data eXchange middleware for real-time integration. Over 120 PSCU Owner credit unions have leveraged Data eXchange’s open architecture to provide the functionality and the enhanced service experience that members are demanding. The State Department Federal Credit Union (SDFCU) has been piloting the solution since this spring. Initial reactions from the credit union and its members have been highly positive./p>

"We are always listening to our members and know that integration is a key component to providing the exceptional experience they want from SDFCU. By partnering with Digital Insight and PSCU, we were able put fraud fighting card controls in the palm of our member’s hands using one seamless user interface,” said Angel Baltimore, Director of eStrategy and Innovation, SDFCU. “Our members can now control when their cards can be used by turning them off and on, ultimately reducing fraudulent transactions over time. If by chance a card is compromised they can also report the card lost or stolen with the tap of a button."/p>

About SDFCU:

State Department Federal Credit Union is a member-owned full-service financial institution that is committed to serving its over 67,000 members worldwide. With $1.6 Billion in assets, SDFCU offers a wide range of financial products and special services that address the diverse and unique needs of its members. Visit SDFCU www.sdfcu.org.


Monday, July 11, 2016
PSCU, Digital Insight Unveil Credit Card Management Tool

 

Credit Union Times - Digital Insight and PSCU announced the roll out of a new service that provides credit card account access alongside checking and savings information in online and mobile apps. Known as Card Management Services for Digital Banking, the service gives consumers a way to manage credit card accounts via web browsers, smartphones and tablets. These new features are designed help reduce the costs associated with credit card fraud and call center inquiries.

The Duluth, Ga.-based Digital Insight, an NCR company, and the St. Petersburg, Fla.-based PSCU’s platforms integrate APIs, which allow credit card account and transaction data to flow between the two platforms in real time. Digital Insight uses PSCU's Data eXchange middleware for real-time integration. Mutual customers of Digital Insight and PSCU can offer consumers the ability to cancel a credit card permanently, report a lost or stolen card and temporarily suspend a card online using self-service tools. Consumers can also view their credit card accounts and transaction history in real time. The $1.7 billion Alexandria, Va.-based State Department Federal Credit Union has been piloting the solution since this spring. Initial reactions from the credit union and its members have been positive, according to a Digital Insight press release.

"We are always listening to our members and know that integration is a key component to providing the exceptional experience they want from SDFCU. By partnering with Digital Insight and PSCU, we were able put fraud fighting card controls in the palm of our members' hands using one seamless user interface,” SDFCU Director of eStrategy and Innovation Angel Baltimore said. “Our members can now control when their cards can be used by turning them off and on, ultimately reducing fraudulent transactions over time. If by chance a card is compromised they can also report the card lost or stolen with the tap of a button. More than 120 PSCU owner credit unions use Data eXchange’s open architecture.


Monday, September 21, 2015
SDFCU Shares Best Practices for a Seamless Conversion at Symitar Conference

 

Symitar® invited the State Department Federal Credit Union (SDFCU) to share best practices and tips at the 2015 Symitar Educational Conference & Technology Expo in San Diego, California after SDFCU completed a top-notch core conversion experience and an exemplary first-day live.

Best Practices for a Flawless First-Day Live,” and “Lessons Learned: Third-Party Integration During a Core Conversion.” The sessions were well received with over 90 attendees.

“The audience was engaged and we were able to give them practical advice to prepare for vendor communications in conversions for instance working with MeridianLink early in the process and testing scenarios,” said Will Parker, Assistant Manager of Support Services at SDFCU. “It’s great to be able to provide insight to Credit Unions in the process now.”

SDFCU completed its core conversion on September 1, 2014 migrating from Summit to Episys. A partnership with Cornerstone Advisors, Inc. was invaluable to aid in the massive project management required for the year long undertaking to convert a core processor and the project was a success, with minimal impact on SDFCU membership.

“After working with SDFCU on their conversion to Episys, I thought other Credit Unions would benefit from learning about how their collaborative culture and supportive leadership contributed to their success. Jan (SDFCU CEO) was right there in the trenches—from kickoff through first-day live,” said Gretchen Holloman, Senior Project Manager at Symitar, a Jack Henry & Associates Company.

“I would advise any Credit Union in their training plan to come up with creative ways to ensure retention and reinforce learning of the new system, such as scheduling practice sessions and incorporating quizzes,” explained Sharon Camper, Managing Director of Human Resources and Administration. “Collaborating and including the front line staff on our training action team helped us to develop our successful methodology.”

About SDFCU:
State Department Federal Credit Union is a member-owned full-service financial institution that is committed to serving its over 67,000 members worldwide. With $1.6 Billion in assets, SDFCU offers a wide range of financial products and special services that address the diverse and unique needs of its members. Visit SDFCU www.sdfcu.org.


Sunday, September 2, 2012
State Department Federal Credit Union Offers New Interest Checking Products With Incentive

 

Alexandria, Va. – State Department Federal Credit Union has launched new and improved interest earning products, the Advantage and Privilege checking accounts. In conjunction with this announcement, SDFCU is currently offering a cash bonus until October 31st for any person who opens a new checking account with Direct Deposit.

The Advantage checking account requires a minimum balance of just $2,000 to earn dividends, while the Privilege checking account earns the highest dividend rate and the minimum balance is $25,000. Unlike many financial institutions there is no fee for falling below the minimum balance required for these.

An interesting feature of these accounts is the possibility of getting ATM and Visa International Service Assessment Fees reimbursed up to a certain amount each month. “We have really been looking at ways to better the lives of our overseas traveling members and are so excited to offer a product that can help with the ISA and ATM Fees they tend to incur,” said Jan N. Roche, CEO of SDFCU.

Additional, checking account information can be found by visiting the SDFCU website at wwww.sdfcu.org.

As a member-owned, full service financial cooperative, State Department Federal Credit Union remains committed to serving the over 68,000 members it serves worldwide. With over 1.3 Billion in assets, SDFCU offers a full range of financial products and services that address the diverse economic and social make-up of its members.


Monday, May 21, 2012
State Department Federal Credit Union Announces New Senior Team

 

Alexandria, VA State Department Federal Credit Union recently announced new members to the SDFCU Executive Team. Jan N. Roche, President and CEO of SDFCU, announced that Floyd Matsuda has been named Chief Information Officer and Bill Thorla has been hired as Chief Operating Officer. Matsuda has been with SDFCU since 2005, most recently serving as Director of Information Technology and responsible for successfully converting a back-office IT department into a front office IT Services division. In his new role, Matsuda will remain based at the credit union’s headquarters in Alexandria, Virginia and will have an expanded responsibility for Systems and Online Delivery, Networks, and Facilities.

Thorla is a new addition to the SDFCU team, bringing with him decades of experience in the financial industry. As the Chief Operating Officer, Thorla is responsible for leading the Sales and Service Division which includes Branch Operations, Member Call Center, Business Development, Marketing, and Lending Solutions. Thorla joins SDFCU from The Golden 1 Credit Union in California, where he served as Senior Vice President of Retail Delivery.

This announcement comes on the heels of a recent change in SDFCU organizational structure, of which Roche says, “I am excited for this new leadership team and proud that this new structure improves functionality and allows us to promote leaders who have excelled in recent years.” Thorla and Matsuda will join Roche and existing Chief Financial Officer, Randy McClintock in leading the credit union to even greater success—continuing a legacy of superior service

Since 1935, as a member-owned, not-for-profit financial cooperative, State Department Federal Credit Union remains committed to serving its 68,000 members worldwide. With over $1 Billion in assets, SDFCU offers a full range of financial products and services that address the diverse needs of its members.

Executives


Thursday, May 19, 2011
State Department Federal Credit Union Board Completes Financial Skills Training

 

A new regulation will take effect later in 2011 that clarifies the expected duties of federal credit union directors. State Department Federal Credit Union (SDFCU) initiated an in-house training session for its directors, which focused on the best ways for them to fulfill their roles. On Friday, April 29, 2011, all nine members of the SDFCU Board of Directors officially graduated from Financial Skills Training as required by the National Credit Union Administration (NCUA).

The SDFCU finance team partnered with Human Resources to develop a full curriculum and conduct the training. Four modules were taught over a three-month period including Statement of Condition; Statement of Income and Expenses; SDFCU Ratios; and Asset/Liability Management Ratios.

“By carefully developing and designing the curriculum in-house, the information is real to us. The staff linked the content back to discussions we've had in Board meetings. We've learned about SDFCU financials, not ABC credit union” - Marlene Schwartz, Board Chairman.

Participants utilized hands-on exercises to reinforce their knowledge of these important financial concepts. At the end of each session, they were tested and scored on their basic understanding of the material covered.

“One of the best examples of training I've seen in brevity, tone and content” - Rich Greene, Director.

“We partnered our Training experts with our Finance/ALM experts and they created a learning environment that resonated with our Board of Directors. They went beyond balance sheet basics and expanded into advanced ALM ratios. The Board is now able to better understand the monthly information presented at each ALCO meeting and ask staff more relevant questions” - Jan Roche, CEO.

Since 1935, as a member-owned, not-for-profit financial cooperative, State Department Federal Credit Union remains committed to serving its 68,000 members worldwide. With over $1 Billion in assets, SDFCU offers a full range of financial products and services that address the diverse needs of its members. Visit SDFCU at www.sdfcu.org