NY Fed: Household debt exceeds peak reached in 2008
The Federal Reserve Bank of New York this week released second quarter data on household debt and credit that showed total household debt reached a new high of $13.86 trillion…
Syndicated
Inside Marketing: Machine learning is the secret to personalization
“Machine learning” and “financial services” are not two concepts that obviously go together—after all, financial institutions, particularly credit unions, rely and pride themselves on established trust with their members that…
McHenry calls for financial industry cybersecurity hearings
The ranking Republican on the House Financial Services Committee is requesting hearings on data security in the financial industry, including the role that regulators play in the oversight of data…
5 reasons why attending a CO-OP Roadshow gets you ahead of industry challenges
Four incredible cities remain in CO-OP’s 2019 Roadshow tour: Chicago, Nashville, Houston and Washington, D.C. CO-OP Roadshows are designed to help you get ahead of the payment and fintech trends…
Paul Newman, millennials and the CU passage to lending in the future
Have you ever tried Newman’s Own salad dressing? Most of us have at one point or another and, if you haven’t, chances are you’ve heard of it. It’s owned and…
What financial marketers can learn from Amazon about personalization
The intersection of privacy and personalization is a hot topic across all industries, not least the banking industry. Consumers are growing increasingly skeptical of what brands know about them and…
The role of credit unions in the student loan crisis
With student loans continuing to soar, the crisis has become a hot topic in both political and financial news. Student loan debt has reached astronomical levels in the United States,…
Credit union lending reaches $1.1T. That’s only part of the story
The total loan portfolio at U.S. credit unions reached almost $1.1 trillion in the first quarter of 2019. Aggregate loan balances expanded 7.9% — or $77.6 billion — year-over-year. Growth,…
NW CUs meet with Congress, NCUA during Congressional recess
Northwest credit union leaders welcomed an opportunity to meet in Olympia last week with Todd Harper, recently sworn in as a Director on the three-person board of NCUA. Rep. Denny…
What do CUs want in Fed’s real-time payments service?
NAFCU Tuesday sent a Regulatory Alert to member credit unions seeking feedback on the Federal Reserve's FedNow Service – a real-time gross settlement service that will feature integrated clearing functionality…
NextGen Know-How: Why great leaders invest in themselves
I just returned from five days at the National Speakers Associationconference in Denver, Colorado, where I had the opportunity to learn from the best speakers in the world about how…
Maurice Smith receives Lifetime Achievement Award
The African-American Credit Union Coalition (AACUC) recognized Maurice R. Smith as the 2019 Recipient of the AACUC Pete Crear Lifetime Achievement Award at its 21st Annual Conference in Charlotte, N.C.…
Summer brings fintech advances & new CU solutions
A rundown of some recent credit union financial technology announcements focuses on core platform changes, a strategic innovation group, an automated lending solution and a collaborative analytics ecosystem. Jack Henry,…
There’s a difference between strategy and execution
What’s the difference between a successful planning session and an unsuccessful planning session for your credit union or bank? Execution. Execution makes all the difference. As strategic planning season gears…
The failure of Nokia: A lesson about credit union data
Credit unions have a great deal of data on their members - how much they earn, where they spend their money, how much their house is worth. Credit unions now…
Fifteen years
Roughly 15 years ago, a good friend let me know about a job opening at a place called NAFCU. Long story made short, I got the job. (And something else…
Beyond containment, eradication and recovery – What’s next when you’re the victim of a breach
This has been a tough month for the industry in terms of data breaches. The most significant incident was the Capital One breach, in which over 100 million consumers were…
How to move at the speed of technology
IT is a fast-paced field, but Michigan State University Federal Credit Union($4.2B, East Lansing, MI) keeps up with the constant change. Rather than partner with turnkey providers, the MSU-affiliated credit…
CFPB announces updates TILA fees, thresholds for 2020
The Consumer Financial Protection Bureau (CFPB) has announced adjusted threshold amounts for several provisions in Regulation Z, which implements the Truth in Lending Act (TILA). The CFPB is required to…
URLA preferred language question now voluntary
A preferred language question on the government-sponsored enterprises' (GSEs) redesigned Uniform Residential Loan Application (URLA) will now be voluntary instead of mandatory, the Federal Housing Finance Agency (FHFA) announced last…
How to evaluate a fintech start-up company
The demand for innovative financial solutions is rapidly evolving. Credit unions looking to stay competitive in the market will need to adopt a culture of innovation. However, building or buying…
From false identities to phony companies to . . .
As credit unions compete more aggressively for small business loans, one expert believes many are moving too quickly and not paying attention to risk from fraudsters who are increasing their…
Visa celebrates 25 years of ecommerce
25 years ago, shopping malls reigned supreme, Neiman Marcus introduced the ‘gift card’1, and Pizza Hut started accepting online orders for the first time. Shoppers did not have the luxury…
CUES Membership Minute: Leverage belonging to boost your learning in 2020
It’s budget season for many credit unions right now. Organizations are deciding what will be their most important goals for 2020—and planning how they will fund them. This season of…