The Lowdown on Alternative Deposit Solutions

The need for deposit solutions is on the rise. Allied Solutions' Charlie Peterson breaks down traditional and non-traditional solutions to help Credit Unions navigate turbulent economic times.

In this episode...

[0:28] Meet Charlie Peterson
[1:51] Liquidity Crisis -- why so much “hype” around it?
[3:22] Organic lending is starting to come back, and people are getting nervous because...
[4:00] 75% of CFOs are nervous, 25% are “game on”.
[5:44] Strategic planning became a strategic adjustment conversation.
[6:33] Nontraditional ways institutions can achieve the same goals...
[7:01] What is a “broker deposit”?
[10:01] When looking into an investment or new deposits, talk to your regulator.
10:32 You need a solution that is more infrastructure based.
11:02 If you are not able to give your members or consumers what they need, that’s a high cost.
[12:25] At the end of the day the low-income credit unions (LICUs) have a greater demand (for deposits).
[12:45]: A: Can CUs use secondary capital in conjunction with DTC eligible share certificates/ broker deposits? absolutely!
[13:14] Its most important that you are looking to bring the deposits in the door.
13:47 Time is an enemy, right now pull the trigger and make a decision on what you want to do... make more loans to your members.
[14:00] Newer channels available to financial institutions - technology, everything is technology.
14:38: From a consumer’s perspective...
[17:32] 83% of all internet traffic is estimated to be streaming and video.
[18:12] A homework assignment for listeners- open an account with your competitors.
[19:49] If a customer experience is strong, WOM is one of the best things that can happen.