April 21, 2025—On Tuesday, April 15, EasCorp held its 47th Annual Meeting and Membership Conference at the Conference Center at Bentley University.
During the business meeting, Cynthia Nelson, President/CEO of EasCorp, and Asim Mian, CEO of our technology CUSO, Vertifi Software, presented their Management Reports. Nelson focused her report on 3 major themes: the strong financial performance of EasCorp and its members in the past year, the impact of monetary policy and liquidity pressures in 2024 on credit union performance, and championing the principles of the credit union industry.
She noted, “We believe in credit unions, are optimistic about your continued relevance and unique position in the market no matter the industry detractors. And we believe that our unique cooperative structure requires its own regulatory structure.”
Asim Mian reported on updates to some of Vertifi Software’s most popular, and for its clients, business-critical services, including its flagship remote deposit capture service and the FedNow® Service gateway.
Vertifi’s DeposZip® Mobile and Desktop RDC solutions are now integrated with more than 20 leading digital and mobile banking platforms, supporting over 750 financial institutions nationwide. Mian noted that despite the ongoing decline in check volumes, its RDC service has continued to expand its market share – a clear testament to the strength and relevance of Vertifi’s offering. He went on to announce that a powerful, new, check fraud prevention service for Vertifi’s RDC platform will be released later this year. A formal announcement is expected soon.
Mian spoke about the approach of the second anniversary of the launch of the FedNow® Service. He noted that the recent executive order mandating the discontinuation of paper checks from the U.S. Treasury later this year is expected to act as a major catalyst for institutional adoption and transaction volume on this payments channel.
Finally, Mian announced that Vertifi is developing a new, multi-channel payments hub to simplify money movement—for financial institutions and their consumers—across payments rails. Mian said “The underlying rail—whether it’s ACH, Same-Day ACH, FedNow® Service, or domestic wires—shouldn’t matter to the user. What matters is delivering a frictionless experience, where the right payment method is chosen automatically based on real-time need and preferences.” This service is expected to be announced by the third quarter of this year.
Wrapping up the Management Reports, Nelson reported on Credit Unions Kids at Heart® and aired a video message from our partners at Boston Children’s Hospital which demonstrates the impact of the studies funded by the foundation and the value of its continued investment. Nelson concluded that this year, with Corporate Sponsors and Participating Credit Unions financial support, the foundation is approaching a fundraising milestone—$10 million raised since its founding in 1996. (Those interested in helping CU Kids at Heart reach that goal should contact us at 800-428-1144.)
This year’s program also featured insightful discussions on the State of the Credit Union Industry led by credit union advocate and lobbyist John McKechnie, and a captivating keynote on the Wonders of the Deep Sea by Dr. David Gallo. Both speakers were highly engaging and received enthusiastic feedback from attendees.
During the State of the Credit Union Industry conversation, led by Mary Ann Clancy, EasCorp’s Senior Vice President, John McKechnie shared updates and addressed audience questions regarding the activities of the NCUA, Congress, and other agencies under the new administration in Washington, DC. The informative exchange covered topics such as the debate around credit union tax reform, regulatory consolidation, and the regulatory environment at the NCUA.
Dr. David Gallo, a distinguished oceanographer with three decades of experience in ocean exploration and advocacy, enthralled the audience with insights into the life-sustaining power of the world’s oceans and the incredible biodiversity of its deep-sea creatures. He recounted his expeditions to map the remains of the RMS Titanic, a passion he continues to pursue. In closing, Dr. Gallo described how he fosters a culture of accountability, collaboration, and curiosity among the crews he leads to the ocean’s depths.
We thank all attendees for their participation and contributions, and we look forward to continuing our journey together towards a brighter and more prosperous future for all.