Recently, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published “A Framework for OFAC Compliance Commitments” to help organizations take a risk-based approach to developing a…
As a thought experiment, imagine if one evening Amazon CEO Jeff Bezos had one too many cocktails and errantly gave an order to purchase your bank. Imagine further that, a…
No other single word creates more angst for a contact center manager than turnover. Agents leaving is a manager’s greatest ongoing challenge because it affects so many aspects of contact…
Are you getting ready to do some business continuity planning (BCP)? Does your credit union need a little guidance on where to start and what you’ll need? In this blog,…
More than 5,500 eligible institutions will receive dividends totaling $160.1 million from the National Credit Union Share Insurance Fund starting this week, according to NCUA. Credit unions have received statements…
Pushing back against opponents of the NCUA's proposal to raise the appraisal threshold for credit union nonresidential real estate loans from $250,000 to $1,000,000, NAFCU's Carrie Hunt penned an op-ed…
By definition, strategic planning and financial forecasting require making assumptions about the future. However, common sense tells us that the future seldom unfolds as expected. Therefore, a well-developed business plan…
Interest-rate risk is a core competency, not only for directors, but for their credit unions, says Brian Smith-Vandergriff. “If you do interest-rate risk well, you can be a better credit…
Edward Rostohar, 62, the former president/CEO of the $21 millionCBS Employees Federal Credit Union, is scheduled to be sentenced in September after he pleaded guilty to one count of bank…
Instant payments is an innovationthat doesn’trequiremuchexplanation.Getting immediate access to money isan obviously bettersolution thanwaitingfor the check to arrive in the mail, or constantly refreshing a mobile banking app to see…
Banks and credit unions face many challenges when it comes to the minimization of risks and losses, but the level of acceptance varies for new solutions built to meet the…
For CUES member Marty Pell, CIE, SVP/chief lending officer for $3.2 billion Coastal Federal Credit Union, Raleigh, North Carolina, the economic landscape is top of mind when it comes to…
With the unemployment rate hitting a 50-year low of 3.6%, credit unions across the nation are competing like never before in a highly fluid job market. A 2018 Gallup pollfound…
Financial institutions have been scrambling to develop a data analytics roadmap to drive their digital transformation efforts. Yet senior leaders often fail to prioritize one mission-critical step early enough to…
CUNA supports federal credit unions’ access to federal courts via diversity jurisdiction, one of the two methods for a federal court to have jurisdiction, the association indicated in an amicus…
Treasury Department Counselor Craig Phillips is expected to leave the department next month, according to Politico. NAFCU has met with Phillips several times on housing finance issues, most recently in…
Building a business intelligence (BI) program starts with one question: Why? “Too many people are affected by ‘shiny object syndrome,’” where they’re distracted by the latest new tool, says Anne…
The Bank of Mom and Dad (BoMaD) isn’t new as kids have been borrowing or receiving gifts from parents for years. But a new study by Legal & General, a…
The intersection between strategy and performance can be difficult to maneuver for many credit unions. A strategic plan is often the culmination of months of discussion and work that encompasses…
Over the last few weeks, the NAFCU Compliance team has received several questions about NCUA’s lending compensation rules related to senior management officials. While this blog will highlight some of…
For the legions of Chris Skinner fans, don’t worry. He hasn’t gone soft. The veteran blogger and author of Digital Bank, ValueWeb, and Digital Human still believes the traditional banking…
Nearly a decade has been dedicated to seeing who would win the Iron Throne and there were some massive roadblocks along the journey to last night’s series finale. Whether or…
The popular CUNA News Podcast is now available on Spotify, putting the program on the top four podcast directories. With more than 116,000 downloads, the CUNA News Podcast has welcomed…
NAFCU's concerns about the negative impact of the current expected credit loss (CECL) standard on credit unions – including increasing the cost of credit to consumers, constrainingthe amount of credit…