For decades, credit unions have set themselves apart from their bank competitors through focusing on superior levels of service to their membership, driven in large part by hyper-specialization in serving a particular professional, demographic or [...]
Strategic planning—now there are two words that can strike cynicism and frustration into the hearts of any bank or credit union executive. And with good reason. Financial institutions spend a great deal of time, [...]
During its June 2021 open meeting, the National Credit Union Administration (NCUA) Board approved a final ruleeliminating the prohibition on the capitalization of interest in loan workouts and modifications. The final rule was published in [...]
A funny thing happened on the way to the great reflation trade that, just a few weeks ago, was the dominant market theme. The reflation trade was supposed to get out in front of strong [...]
“CDFIs, at the heart of it, are community lenders. If you think about where banks step out, CDFIs step in. They deliver responsible capital where it is needed in a very place-based, community-first approach. Most [...]
Electronic bill payments are only possible because of the payment methods that make digital fund transfers possible. The “big three” funding methods of electronic bill presentment and payments (EBPP) include credit cards, debit cards, and [...]
According to PWC’s 2020 Retail Banking Survey, 61% of bankers say a customer-centric business model is ‘very important,’ but only 17% are ‘very prepared’ for it. Digital transformation is one key component in facilitating [...]
Ooh baby, baby. It’s a wild world … Transformation. Like it or not, we’ve all done some major adjusting this past year. But intentional transformation? Now, that’s where the real magic happens. And [...]
I recently returned from a week away from the office, savoring some wonderful mother-daughter time in the Colorado mountains. My daughter MacKenzie is ten years old and I’m relishing the fleeting moments of her [...]
In today’s recovery climate, consumers are hungry for more than great rates and friendly service. They’re looking for an anchor. Although this is a time of change, it’s also a time of [...]
The World Council of Credit Unions welcomed hundreds of credit union professionals to day one of the 2021 World Credit Union Conference, opening the first all-virtual WCUC with a keynote speech and breakout sessions on [...]
On a seasonally-adjusted basis, overall consumer prices rose 0.9 percent in June, with the Bureau of Labor Statistics reporting the overall consumer price index (CPI) grew 5.3 percent over the 12-month period. In [...]
Transitioning into a leadership role for the first time can feel overwhelming and uncertain. More often than not, new managers aren’t provided training on where to focus their time and energy for successful leadership. [...]
UW Credit Union in Madison, Wis., reduced its overdraft and (OD) and nonsufficient funds (NSF) fees by more than 80%, to $5 per occurrence from $30. The $4.5 billion asset credit union says the [...]
For many banks, the ability to offer small-business loans efficiently, quickly and compliantly has been more of an aspiration than a reality. The technical, financial and staffing obstacles involved in launching small business loan products [...]
