Compensation Update: Proceeding with caution
While credit union CEOs and other executives received healthy salary hikes and bonuses over the past year, the pace of those increases slowed slightly as compared to 2018 for more…
Syndicated
CU mission is ‘just rhetoric,’ state banking groups tell congressional tax-writing panels
Every state banker association is asking congressional tax-writing committees to examine whether credit unions still should be exempt from filing federal tax documents detailing their activities. The 50 state associations…
Does your credit union have grit?
Grit is essential for survival. Life gives us challenges and we face most of them when we feel the least capable of handling them. I recently joined toastmasters and during…
Visa puts fintechs on Fast Track to payments innovation
The United States is a massive market for innovating in the space of banking and financial services, with fintech investment in the U.S. more than doubling to $52.5 billion last…
Here’s why credit freezes are hot this summer
Data breaches have been all over the news lately, first with the announcement of the settlementof the 2017 Equifax breach and more recently with reports of a new major data…
NCUA increases commercial loan appraisal threshold!
In theirJuly Board meeting,NCUA's Board approved a final rule, which increases the loan value threshold for when a commercial real estate appraisal is not required from $250,000 to $1,000,000. In…
What’s in a name: Chief Growth Officer
When Alissa Sykes was named the first chief growth officer at Sunmark Federal Credit Union ($678.3M, Latham, NY) in January, it continued a trajectory of personal and career growth that…
WCUC 2019: Challenges/opportunities come with future tech
World Council of Credit Unions President/CEO Brian Branch channeled 6th-century BC Chinese Philosopher Lao-Tzu for his “State of the Movement” presentation during Monday morning’s general session at the 2019 World…
NAFCU to NCUA: Preserve alternative dollar limit under public unit, nonmember shares
In a letter to the NCUA Monday, NAFCU's Andrew Morris shared the association's support for its proposal to allow federal credit unions (FCUs) to receive public unit and nonmember shares…
Credit union loan officer helps police arrest accused ‘con artist’ pastor
The sharp eyes of a credit union loan officer led to the arrest of a pastor who attempted to take out a loan for a pontoon boat with a power…
Why loan analytics are key to your credit union’s profitability
One of the most common questions I hear thrown around is, “what is the purpose of analytics?” It’s a great question, but that’s because the answer isn’t as straightforward as…
Squad Goals: How Navy Federal simplifies the homebuying process
In early March 2013, a video on Business Insidertalked about 2010s being the Age of the Customer. Advances in technology have underpinned the proliferation of competitors in the field of…
Cause for Community – What it means to be a good credit union neighbor
Communities are continually challenged to find ways to care for those on the margins of society. While we are all capable of improving our own conditions, we are also capable…
Zelle continues to battle Venmo in person-to-person payments
Zelle, the bank-owned response to PayPal’s Venmo person-to-person mobile payment service, Square Cash, and others, continues to grow by long strides since its launch in 2017. Early Warning Services, the…
Capital One says data breach affected 100 million credit card applications
Capital One, the Virginia-based bank with a popular credit card business, announced Monday that a hacker had accessed about 100 million credit card applications, and investigators say thousands of Social…
CUNA engaged with blockchain hearing this week
The Senate is in session this week for what is expected to be the final time before Labor Day, and the House has already adjourned until Sept. 9. CUNA will…
NAFCU’s cybersecurity resources help CUs navigate changing times
Last week, Equifax reached a settlement for their massive data breach that affected an estimated 147 million Americans. The company has agreed to pay $700 million for claims tied to…
Maximizing mobile solutions
David Dean, SVP/marketing solutions & business development for CUES Supplier memberCU Solutions Group, Livonia, Michigan, says credit unions are really in the same boat as everyone else when it comes…
Husband sentenced to life in prison for murdering wife in a CU branch
A Wisconsin judge last week sentenced a 70-year-old man to life in prison for murdering his wife in 1982 while she closing a credit union branch. During a bench trial,…
What you need to know about Libra
Libra. It’s a word most of us know, and it’s a word most often associated with astrological signs. Facebook is hoping to change that. When people think of currency, Facebook…
Purposeful Talent Development: How to address two key layers
To get people to buy into any idea, you need to address two layers: understanding and action. When working to get buy-in for talent development plans for next year, you…
The updated fidelity bond rule goes final
At the July meeting of the NCUA Board, the Board voted to finalize the fidelity bond rule proposed in November 2018. It was published in the Federal Register on July…
A holistic look at member growth
Americans continue to join credit unions in record numbers. Each person joins for their own reasons, but together they’re energizing a movement that now accounts for more than one-third of…
Without branches, banks and credit unions say they can’t survive
Branches aren’t just important to banks and credit unions. They’re viewed as essential to institutional existence by a significant majority in the industry. Seven out of ten bank and credit…