News Archives

CUNA concerned with ‘rent-a-bank’ trend, ‘true lender’ proposal

CUNA concerned with ‘rent-a-bank’ trend, ‘true lender’ proposal

CUNA supports oversight of financial technology companies, it wrote Wednesday to the Senate Banking, Housing, and Urban Affairs Committee. The committee conducted a hearing on so-called “rent-a-bank” relationships, and CUNA believes the committee should examine [...]

NAFCU raises rent-a-bank, fintech chartering concerns

NAFCU raises rent-a-bank, fintech chartering concerns

NAFCU Vice President of Legislative Affairs Brad Thaler reiterated the association's concerns about companies taking advantage of regulatory loopholes and chartering schemes to expand their reach in the U.S. financial system ahead of today's [...]

Tech Time: Chatbots in the credit union

Tech Time: Chatbots in the credit union

One of the key takeaways for new board volunteers at credit unions is the emphasis on the human touch. Credit unions like to promote the superior quality of their member interactions versus those of commercial [...]

The power of a single decision

The power of a single decision

Double-digit loan growth and membership growth—that’s what one credit union achieved thanks to one bold strategic decision. Do you feel stuck? Are you spinning your wheels trying to grow loans and membership but [...]

Litigation risk: Account fees

Litigation risk: Account fees

In the past few years, credit unions have faced increasing litigation risk from plaintiffs’ attorneys filing class action lawsuits, particularly in the area of various fees that may be assessed to both members and nonmembers. [...]

The secret behind SEG success at Franklin Mint FCU

The secret behind SEG success at Franklin Mint FCU

Franklin Mint Federal Credit Union ($1.4B, Chadds Ford, PA) is coining new business relationships to the tune of 500 new select employee groups (SEGs) a year. Typically, a SEG is a source for consumer [...]

Money and marriage: Common pitfalls to avoid

Money and marriage: Common pitfalls to avoid

For many people, the day they get married is one of the happiest days of their lives. The dress, the reception, being surrounded by family and friends, and vowing to spend the rest of your [...]

5 ways to support young professionals

5 ways to support young professionals

Credit unions have thrived during the last few months and have been able to make strides in innovation. By the rapid pace of change at all levels, from executives to tellers, everyone has had to [...]