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Cubus Solutions Newsletter: October 2016


Wells Goes Far (Too Far) to Make a Quick Buck

By now you’ve all read the news about Wells Fargo cheating millions of their customers by opening two million checking and credit accounts without their knowledge. The bank submitted applications for 565,443 credit card accounts without consent, and roughly 14,000 of those accounts incurred more than $400,000 in fees, according to CNN Money. In addition to the fee money collected, when a credit account is opened, credit scores can go down. When credit scores go down, interest rates get higher. Wells Fargo stood to make more ill-gotten gains off the defrauded customers through higher interest rates.

What’s the takeaway? First, this scandal is different than previous bank scandals, like the big short, for example. Consumers don’t understand mortgage-backed securities and credit default swaps, but they clearly understand credit card fraud. Second and clearly obvious, when “establishment” banks are seen as ripping off the little guy, credit unions benefit. The Wells Fargo scam could help make 2016 a banner year for you. And lastly, use this despicable fraudulent scheme to further illustrate why credit unions are needed in this country more than ever. Take this opportunity to tell the credit union story. To tout your difference. Take action through marketing, on social media, with scripts for tellers and call centers. You can start with this. You’re welcome.

~John-Ashley Paul, President/CEO

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Welcome Monterey Credit Union to Cubus One

Another credit union has signed up for the Cubus One digital banking platform. Monterey Credit Union, located in Monterey, CA, has 7 branches, $225 million in assets and 19,000 members. With this addition, we now have 21 credit unions using Cubus One. Find out more today and be the next to say you've joined the club! Email us for a demo.

Visit Monterey Credit Union

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Visa Mandates Issue Alerts by October

We are please to announce that Cubus already has a Visa transaction alert. As we reviewed the wording of the mandate and discussed it with Visa, we found that it required that the last four digits of the card number be included in the alert.

We have added the option to add this data to your alert but it will require an upgrade to your existing Notify product.

Please log a case using our support portal or by emailing us at, to schedule your upgrade.

Positive Messaging You Can Use Now - CUNA launched the second phase of their “Strong Credit Unions. Strong Middle Class” campaign on the night of the first presidential debate. The non-partisan effort represents CUNA’s efforts to ensure credit unions are part of the ongoing conversation around the election. This is great fodder for your social media marketing, and for engaging happy members.

See CUNA's Campaign

Millennials…What About Gen Z? - Everyone is talking about the Millennials, but if you really want to get on the front side of a generation, now is the time to target Gen Z, those born between 1995-2012. How better to do that than through a program called Biz Kid$. Maybe you’ve heard about it. Backed by the NCUF and started in 2008, it’s the only credit union-branded national financial literacy initiative that teaches kids about money and business. It engages young people and helps them develop early life skills in the areas of financial literacy and entrepreneurship. The initiative (and marketing opportunities) includes an Emmy award-winning television series, free classroom curriculum, outreach activities, and a website targeting kids 9 – 16 years old. This is a no-brainer. Leverage this (mostly) free treasure chest of marketing to engender your credit union to this up-and-coming consumer.

Learn more about Biz Kid$

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