In what is a recurring feature, Finopotamus spotlights innovative women who are positively impacting technology applications in the credit union industry, and beyond. For this issue, we visited with Financial Plus Credit Union Senior Vice President of Technology Jessica McNier.
By W.B. King
As self-described “data geek,” Jessica McNier said that in years past, tools and solutions to “properly cleanse or manipulate” data were lacking, which placed financial institutions at a disadvantage.
“Now, more technologies are coming to market to solve for an array of data needs. I think the personalization tools and data cleansing technology are two innovations that are going to take the personalization game to the next level,” McNier told Finopotamus. “And as a consumer, it excites me to know that credit unions will be able to become more personalized and relevant to their members.”
McNier has spent the last 25 years working in the credit union space in roles ranging from retail and operations to lending. “I have always been very hybrid by role and extremely curious. I need to know how and why something works to be the best user and promoter,” she noted.
Tech Curious
In recent years, McNier became more interested in the tech side of the business. “As new business partners entered the market with more ‘Lego’ type designs, I became entrenched in a learning journey to understand our core systems and integrations with our partners,” she continued. “I started raising my hand for every opportunity to learn more about our systems and processes.”
These experiences would prepare her for an even bigger tech undertaking: a merger and acquisition. At the time, 2022, she was the director of integration at the Saginaw, Mich.-based Wanigas Credit Union, which was being acquired by the Flint-based Financial Plus Credit Union. McNier had joined Wanigas CU in 2014 as an indirect lending manager before becoming its digital solution lending manager.
After the merger was successfully completed in 2022, she maintained her position and title at the $1.4 billion Financial Plus Credit Union, which today serves more than 82,000 members at 12 branch locations.
“I collaborated with all our business lines and quickly realized how technology is the heart of our organization. I was able to see all the veins in our organization, and I fell in love with how important a role technology plays to keep everything alive,” McNier, now senior vice present of technology, said. “When the opportunity came to work directly with our technology area, I knew I had to jump in.”
Think Like an Artist and Shoot for the Stars
Over the course of her career, McNier, a “digital native,” has noticed many tech changes, especially deviations in user expectation, which shape and inform departments and teams.
“As our workforce and membership generationally shifts, we are dealing with ecosystems, products, services, and now users (both members and team members) that have expectations of experience and ease of use,” she told Finopotamus. “I believe this shift is causing leadership to evolve. Leaders need to blend expertise in technology with a focus on experience and innovation. It's no longer enough to be an architect; we need to think like artists.”
When it comes to women working in technology, she said “we have room to move the needle across our industry and partners.” To this end, she added that it’s not surprising that technology departments have fewer females in the ranks.
“I’m proud to promote STEM [science, technology, engineering, and mathematics] activities and focus efforts in my community, being a female leader that young women can look up to,” McNier noted. “We’re responsible for exposing future generations to the possibilities within technology. It’s not just about encouraging more women to join the field; it’s about promoting diversity in all its forms.”
Throughout the years, McNier said she has been able to remain her “authentic self” thanks, in part, to those champions and mentors who encouraged her to reach intended goals. Most recently, she said Financial Plus’ CEO Brad Bergmooser has had a significant impact on her career.
“Brad pushes me to see my potential and get outside of my comfort zone, while being a trusted source of reality and honesty,” she shared. “I dream big and he allows me the space to reach for the stars.”
First Impressions
Financial Plus, McNier explained, has been on a journey to create seamless and consistent access for its membership, which includes enhancing and elevating the “first impression” members have with the credit union. To achieve this goal, the credit union partnered with the New York City-based MANTL, which offers a consumer and commercial account origination solution. The objective was to deliver a seamless, intuitive experience, similar to the way consumers shop online or consume media.
“With MANTL, we created an online and in-branch account opening solution that allows the member to choose the way they want to do business with us. What really makes this accomplishment a win is that the improved experience extends into our internal ecosystem, elevating the experience for our team members as well,” she continued. “It is important that we continue to focus on technology and partnerships that allow for our most valuable resource, our team members, to spend more time engaging with our members.”
Building on this premise, the credit union industry’s cooperative spirit is a clear differentiator in the financial services space, McNier noted.
“The collaboration and network of people that are willing to help, or hand over something they created that could help someone else, never gets old,” she continued. “The credit union community will continue to be our superpower for sure. If we can continue, and even grow that superpower, just imagine what we could do to compete with the banks and other disrupters out there.”
A Spirit of Partnership
To compete and become a superpower in the FI space, she said fintech partnerships that align with the noted credit union philosophy is critical, although Financial Plus tends not to use words like “vendors” or “fintechs.” Rather, the credit union is focused on “partnerships,” including the one it shares with the Malvern, Penn.-based AKUVO, which offers a credit risk management solution.
“We have several great partners that we are proud to collaborate with, but one that truly embodies the culture and spirit that we have at Financial Plus Credit Union is AKUVO. Jay Mossman [CEO] and team have been a fantastic addition to our fabric and strategy of elevating member experience and streamlining internal member processes,” she told Finopotamus.
“Knowing that we are all rowing in the same boat with shared values and a true consideration for a mutually beneficial relationship and purpose is essential,” McNier continued. “Just because we have ventured into the fintech space does not mean we have deviated from our ‘People Helping People’ mission, and our partners must have that same spirit.”