Santa Clara County Federal Credit Union Promotes Montero and David to New Executive Roles

County Federal Names New Chief Administrative Officer and Chief Experience Officer.

San Jose, CA, USA — The Santa Clara County Federal Credit Union (http://www.sccfcu.org) today announced the promotions of Jennifer Montero and Divine David to new executive roles.

Jennifer Montero has been named Senior Vice President/Chief Administrative Officer. Jennifer has been serving as SVP/Organizational Development. She has extensive knowledge in the field of human resources management and specializes in high-growth operations and restructuring. Jennifer previously served on County Federal’s Board of Directors. In her expanded role, she will be responsible for providing strategic leadership in all human resource functions, learning and talent development initiatives, and special programs. Jennifer holds a bachelor’s degree in Business Management from San Jose State University.

Divine David has been promoted from Senior Vice President/Chief Lending Officer to Senior Vice President/Chief Experience Officer. Divine has a long history in banking, having worked with San Francisco Federal Credit Union, Provident Credit Union, Golden 1 Credit Union, and Bank of the West. In her new role, Divine will be responsible for enhancing the member experience and improving membership services. She holds a Management degree from Golden Gate University.

“Both Jennifer and Divine have been instrumental in helping us maintain the standard of excellence that members expect from County Federal” said Rebecca Reynolds Lytle, President and CEO of County Federal. “Expanding their roles allows us to have an even greater impact on the member experience and help us improve and expand our financial services.”

About Santa Clara County Federal Credit Union
For more than 65 years Santa Clara County Federal Credit Union has been helping county, city, and school employees and affiliated organizations with financial services to help them realize their dreams. In addition to maintaining a passionate commitment to provide knowledgeable financial solutions to its members, County Federal also maintains an extensive community outreach program, providing educational support through its scholarship program and dedicating time and resources to a variety of regional non-profit organizations. County Federal offers a comprehensive line of financial products and preferred rates and is committed to empowering, enriching and enhancing members’ financial lives.

For more information, please visit http://www.sccfcu.org.

Media Contact:
Marilyn Avalos
Santa Clara County Federal Credit Union
408.282.0782
mavalos@sccfcu.org
http://www.sccfcu.org

Santa Clara County Federal Credit Union Adds Two New Vice Presidents to Leadership Team

County Federal Adds Senior Staff to Credit Union As Part of Ongoing Commitment To Extend Superior Services to Members.

San Jose, CA, USA — The Santa Clara County Federal Credit Union (http://www.sccfcu.org) today announced the expansion of its leadership team with the addition of two new Vice Presidents:

Carol Presar is the new Vice President of Learning & Talent Development with responsibility for employee training and human resources support. Carol has an extensive background in developing operational policies and procedures, instructional design, and enterprise-wide talent development. She previously worked with 1st Franklin/Merrill Lynch (now part of Bank of America) and holds a degree in Business Administration.

Steven Naylor is the new County Federal Vice President of IT Infrastructure. Steve has two decades of IT experience, including financial systems design and management. He comes to County Federal from Technology Credit Union and holds a bachelor’s degree from San Jose State University as well as a Business degree from West Valley Mission College.

“The success of any credit union hinges on the quality of service to its members, and as part of our commitment to our members, we seek out corporate leaders who share our vision and dedication to excellence,” said Rebecca Reynolds Lytle, President and CEO of County Federal. “As our new Vice Presidents, Carol and Steve bring extensive experience and fresh expertise to help County Federal enhance our member services and improve the membership experience. We are delighted to welcome these credit union veterans to the County Federal family.”

About Santa Clara County Federal Credit Union
For more than 65 years Santa Clara County Federal Credit Union has been helping county, city, and school employees and affiliated organizations with financial services to help them realize their dreams. In addition to maintaining a passionate commitment to provide knowledgeable financial solutions to its members, County Federal also maintains an extensive community outreach program, providing educational support through its scholarship program and dedicating time and resources to a variety of regional non-profit organizations. County Federal offers a comprehensive line of financial products and preferred rates and is committed to empowering, enriching and enhancing members’ financial lives.

For more information, please visit http://www.sccfcu.org.

Media Contact:
Sandy Roque
Santa Clara County Federal Credit Union
408.282.0722
sroque@sccfcu.org
http://www.sccfcu.org

Market Rates Insight Report Analyzes How Bank Deposit Rates Are Likely to Rise in 2014

New Analytical Report, “Likely Scenarios of Rising Deposit Rates in 2014 and Beyond,” Reveals Deposit Rate Trends Expected for CDs, Money Market, and Savings Accounts.

Market Rates Insight

San Anselmo, CA, USA (January 11, 2014) — How will rising deposit rates affect CD rates and savings and checking interest rates in the coming year? That’s the question answered in the latest research report from Market Rates Insight, Inc. (http://www.marketratesinsight.com), the leader in financial services intelligence for deposits, personal loans, mortgages, and fees. The new report, “Likely Scenarios of Rising Deposit Rates in 2014 and Beyond,” provides an analysis of what deposit rates for CDs, savings accounts, money market, and checking accounts are likely to look like in the 2014.

This latest report reveals how deposit rates are likely to trend based on historical data from the last rising rate environment between July 2003 and July 2007. The predictive report can be invaluable to bank marketing executives and senior staff at banks and credit unions who need to plan their rate increases and budget for future interest expenses. Market Rates Insight is the only research company to have more than 25 years of cumulative bank and credit union rate data, giving the firm a more accurate portrait of cyclical market trends.

“As the economy continues to improve, there is no question that bank deposit rates will begin to rise,” said Dr. Dan Geller, Executive Vice President of Market Rates Insight and author of the study. “The real question is when will they rise and to what degree? No one has a crystal ball, but we do have historical data that accurately shows how deposit rates perform during the last rising economic cycle. Scrutinizing past performance can be a very reliable indicator of what lies ahead for deposit rates.”

Trends revealed in the report include:

– The impact of 3-month and 6-month LIBOR rates on deposit products.
– The average increase of deposit product rates on a month-to-month basis.
– The projected performance curve of term accounts and liquid accounts.
– The increase in interest expenses for banks and credit unions for consumer deposits.
– And much more.

The “Likely Scenarios of Rising Deposit Rates in 2014 and Beyond” report provides average rates in seven deposit-product categories: checking, savings, money markets, brief-term CDs (3 months or less), short-term CDs (3 months to 1 year), mid-term CDs (1 to 3 years), and long-term CDs (over 3 years). The report is available now for $995.

For more information, visit http://www.marketratesinsight.com/news/2014DepositTrends.html.

About Market Rates Insight
For more than two decades, Market Rates Insight (MRI) has been helping clients price with precision by providing banks, thrifts, credit unions, and other financial institutions with comprehensive market intelligence on deposits, loans, and fees. MRI’s products include web-enabled, customizable report programming, proprietary product research tools, searchable databases, market alerts, and online dashboards that aggregate key client data to provide real-time interactive views on how they rank against their specific competitors. MRI provides advanced toolsets for deposits, deposit surveys, mortgage and consumer loans, and loan surveys, fees and features pricing in addition to studies, new product alerts, benchmarking and market analyses to give subscribers the intelligence needed to strategically position products, optimize pricing and react to emerging trends.

Market Rates Insight is located in San Anselmo, California. For more information, see http://www.marketratesinsight.com.

Graphics available upon request

For additional information contact:
Tom Woolf
Market Rates Insight
(415) 259-5638
tom.woolf@marketratesinsight.com

Market Rates Insight Releases Findings from its New Consumer Study: Growth and Revenue Potential from Emerging Financial Services

Market Rates Insight

New fee optimization study reveals perceived value of new financial services and how to optimize fees with service bundles to generate new revenue.

SAN ANSELMO, Calif. (May 30, 2013) — Market Rates Insight, Inc., a leader in financial services intelligence for deposits, personal loans, mortgages, and fees, has completed the analysis phase of its latest consumer research and fee optimization study, “Growth and Revenue Potential for Emerging Financial Services.” The study examines 13 emerging financial services and assesses consumer attitudes about the importance and value of each service, segmented by banks and credit unions as well as demographic groups. The study findings will be reviewed in a webinar to be hosted by Market Rates Insight on June 18.

This study is the only one of its kind to measure consumer attitudes about banking fees and services and was conducted nationwide to help banks and credit unions better understand consumers and identify new revenue sources from fee-based services and service bundles. Banks and credit unions are facing new challenges from non-banking competitors offering banking services, and they need to identify new ways to attract and keep customers. This study provides empirical data on the importance and value of emerging services to help financial institutions create service offerings that attract and retain customers while building revenue.

Some of the preliminary findings reveal that identity theft alerts (70.8%), credit score reporting (71.4%), payment protection services (64.6%), and same-day bill pay (58.7%) currently ranked with the highest consumer demand. Other services such as eldercare services, prepaid reloadable cards, and location-based coupons showed the greatest growth potential with consumers.

This study also reveals for the first time how consumers value certain combinations of services. Consumers typically value service bundles more than individual services, and will pay a premium for bundled services. The study reveals which combination of services command higher fees because of increased consumer demand.

“For the foreseeable future deposit rates will remain flat and loan demand will stay soft, so financial institutions will have to rely in fee revenues for income growth. But to convert services from ‘free to fee,’ banks and credit unions will have to identify new services that consumers want and are willing to pay for. Our new study shows banks and credit unions how to use service fees to expand profits and penetration with both existing and new customers.”

The “Growth and Revenue Potential lf Emerging Financial Services” study is being offered in both an Essential and Premium package. The Essential package includes copies of the complete 150-page study and a competitive survey of 10 financial institutions and their adoption of the 13 emerging financial services. The Premium package includes the survey and competitive data, as well as an optimization analysis of service bundles, an online optimization consultation, copies of the Emerging Trend Spotlight quarterly update, and access to trend analysis and service integration online seminars.

For more information about the study or the upcoming webinar, contact Market Rates Insight at info@marketratesinsight.com.

About Market Rates Insight
For more than two decades, Market Rates Insight (MRI) has been helping clients price with precision by providing banks, thrifts, credit unions, and other financial institutions with comprehensive market intelligence on deposits, loans, and fees. MRI’s products include web-enabled, customizable report programming, proprietary product research tools, searchable databases, market alerts, and online dashboards that aggregate key client data to provide real-time interactive views on how they rank against their specific competitors. MRI provides advanced toolsets for deposits uses deposit surveys, mortgage and consumer loans, and loan surveys, fees and features pricing in addition to studies, new product alerts, benchmarking and market analyses to give subscribers the intelligence needed to strategically position products, optimize pricing and react to emerging trends.

Market Rates Insight is located in San Anselmo, California. For more information, see http://www.marketratesinsight.com.

Photos available upon request

For additional information contact:
Tom Woolf
Market Rates Insight
(415) 259-5638
tom.woolf@marketratesinsight.com