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From the CEO
September 30, 2020

Dear Members:

I recently read an article by the Harvard Business Review titled “Digital Transformation is Not About Technology.” The article resonated with me because one of the chief lessons the authors highlight is about the importance of digital transformation being guided by an organization’s broader business strategy, not the other way around. In essence, before deciding what digital tools to implement and how to use them, it’s important to first have a strategic focus and direction that complements and aligns with the trends and considerations impacting an organization's members, as well as the industry overall.

As we’ve witnessed our industry change dramatically over the last 10 years due to advances in technology and the explosive migration to digital financial experiences, the article’s perspective validated the mindset we’ve adopted as we seek to ensure Corporate One’s longstanding mission of helping our members succeed continues to be fulfilled. We have been applying digital transformation efforts not only to those products and services we innovate on behalf of our members, but also to modernizing our own internal systems so we can operate more efficiently, serve our members more effectively, and continue to improve the overall management of our corporate as industry and market forces evolve. Many of our strategic initiatives, such as the 2019 launch of our digital technology CUSO Sherpa and our transition to cloud computing, were selected for these reasons. Other examples of how we have been enhancing and modernizing our capabilities just this year include the following:

  • MyCU Manager. With the rollout of MyCU Manager, our new online user-management hub, members can easily update profile information, maintain organizational details, and manage user authorities and permissions related to the Corporate One solutions they use. This new resource is a more convenient, faster way to do business with Corporate One, especially during these unprecedented times when organizations may need options to manage their information and users from remote workplaces.
  • Digital Business Lending Center. By leveraging a modern, high-speed app development platform, our commercial lending CUSO, Lucro, launched its Digital Business Lending Center (DBLC), in just 15 weeks. The DBLC is a custom, web-based, online business loan portal that assists with automating and centralizing the collection of applications and documents. When the impacts of the pandemic hit small businesses a few months ago and the U.S. Paycheck Protection Program (PPP) was launched, Lucro was able to adapt the DLBC in just a few short days to include PPP loans, and they have further adapted the DBLC to help credit unions with PPP loan forgiveness.
  • Mosaic. Sherpa Technologies’ open, digital business platform, called Mosaic , is a cloud-based, digital development and integration platform that enables credit unions to connect all their fintech solutions and optimize the data to better serve their members. By leveraging plug-and-play technology, Mosaic facilitates high-tech, high-touch, low-code member experiences and offers integration of everything from digital payments platforms to identity verification tools.
  • Real-time payments: Thanks to Corporate One’s recent certification as a participant to receive payments via The Clearing House’s RTP® network, along with Sherpa’s proven ability to connect certified credit union industry entities to the RTP network, credit union access to the RTP network is opening. All this connectivity is being built and facilitated via Mosaic.

As we continue to navigate the future for our members, it helps to know how we are doing and what services our members desire to drive our improvements and future initiatives. I would appreciate your feedback on how you think we are doing. Please reach out to me anytime at mashley@corporateone.coop or 614/825-9351.

Best,
Melissa Ashley
President/CEO