Amid uncertain economic conditions, credit unions and their members are expected to see a surge in fraudulent activity in 2023. Fraudsters have become more sophisticated and have adapted quickly to finding new, creative ways to [...]
I was recently having a conversation with a credit union CEO about the obstacle that is keeping credit unions from growing and attracting younger members to their credit union brand. “Often credit union board members ([...]
Succession planning is one of the most pressing issues for today’s credit unions. Too many have aging executives and board members without skilled people ready to take control once the current leadership cadre leaves. [...]
Despite the economic headwinds credit unions are facing right now, they’re also entering one of the most significant transformational periods the industry has ever experienced. This is largely due to the rapid digitization of [...]
It’s been just over five years since the American financial system joined the real-time payment (RTP) revolution that started in Europe. We’ve watched as mega banks in particular have processed increasingly large volumes [...]
In her book, Great Companies Deserve Great Boards, Beverly Behan describes five performance modes: Imperial, Independent, Entrenched, Hostile, and High Performing. Where does your Board land? I have had the opportunity to work with boards, [...]
Short and intermediate Treasury yields rose sharply in 2022 to the highest levels in 15 years. One clear impact to depository institutions was higher unrealized losses on their AFS portfolios, but at the same time, [...]
It’s a crazy, weird, and often unpredictable world. There are ups, and there are downs. That’s especially true in business. As soon as we overcome one challenge, another — sometimes even bigger — one is [...]
The National Credit Union Foundation (the Foundation) published a Philanthropy Toolkit—a resource designed to help credit unions maximize their community impact and align philanthropic activities to strategic objectives. The toolkit, available for free on [...]
The Bureau of Labor Statistics (BLS) issued the latest jobs report Friday, which revealed that the unemployment rate rose to 3.6 percent in February. NAFCU Chief Economist and Vice President of Research Curt Long [...]
In 2023, new vehicle inventories are finally projected to begin returning to normal. Following a record-high average price for new vehicles, auto lending is set to have an interesting year, given the current environment in [...]
Vote now for Credit Union Magazine's 2023 Credit Union Hero of the Year. The four finalists are: Amanda Merz, community impact manager at $4.6 billion asset SAFE Credit Union, Folsom, Calif. Michael Ray, vice [...]
Signature Bank, a New York-based regional bank that became a leader in cryptocurrency lending, shuttered suddenly on Sunday, marking the third-biggest bank failure in U.S. history just two days after the country’s second [...]
The financial institution best known for its relationships with high-flying world technology startups and venture capital, Silicon Valley Bank, experienced one of the oldest problems in banking – a bank run – which led to its failure [...]
Payments fraud is a persistent threat for credit unions and their members that is poised to grow even more acute in the next few years. Fraud experts predict the financial services industry will sustain $408 [...]
