“Blindly following the maxim that good managers should keep close to their customers can sometimes be a fatal mistake.” That quote came from a book I read recently, “The Innovator's Dilemma,” by Clayton Christensen. Christensen [...]
I heard that first prediction in 1983. The CEO of the credit union I was working at announced, “We are investing in an ATM and it will someday replace tellers.” I was a teller at [...]
Budgeting and the “holiday season” don’t always seem synonymous. But the reality is, they should be. Additionally, safety and security, especially when it comes to your members’ transactions, should take up first position in [...]
The Bureau of Labor Statistics issued the November jobs report Friday, which revealed that the unemployment rate remained at 3.7 percent during the month. NAFCU Chief Economist and Vice President of Research Curt Long [...]
Although the first cryptocurrency launched in 2009, participation and speculation accelerated rapidly over the last two years with terms like NFT and dogecoin entering the daily lexicon. However, interest often outpaces understanding in the cryptocurrency [...]
Our latest Economic Update examines different ways to measure financial health and wellness, which is essential to our continued work bringing the credit union difference to more people and communities. The Financial Health Network estimates [...]
To help your front-line staff spot forged checks before they cash or deposit them, first teach them about “negotiable instruments” and “words of negotiability,” suggests our most recent edition of First Line of Defense, offered [...]
Fintechs are growing rapidly — faster than all other types of financial institutions — and are capturing more of members’ daily interactions. For example, between 2021 and 2022, PayPal experienced five times relative growth in PFR, Chime [...]
Happy December, compliance companions! This year seems to have flown by in warp speed, and so much has happened, both personally and professionally – we moved into our new house, had to replace the furnace a [...]
The CFPB has no authority to police discrimination in financial services and a federal court should swiftly make that abundantly clear, the U.S. Chamber of Commerce and banking trade groups said last week. “Through [...]
Thank you for tuning in to episode 149 of The CUInsight Experience podcast with your host, Randy Smith, co-founder of CUInsight.com. This episode is brought to you by Elan Credit Card. Elan partners with [...]
To the NCUA, the lack of supervisory powers over third-party vendors is a regulatory blind spot. To credit union trade groups, granting the agency those powers would amount to a regulatory over-reach. The two sides [...]
In their history, credit unions have evolved from “order-taking” organizations to “value-creating” organizations. It’s been an important shift from simply processing transactions to truly serving member needs. Making this shift has made credit unions [...]
As we move toward a new year, it’s important to keep your credit union’s good reputation at the forefront of your business, HR, operations, marketing and community engagement initiatives. The Eight Reputation Enhancement [...]
CUNA Senior Economist Dawit Kebede issued the following statement in response to the Labor Department’s November Employment Situation: “The November employment report showed that the labor market is still strong despite rising interest rates [...]
