Holiday fraud — Expect the unexpected in 2020
2020 is the year of the unexpected — and this holiday shopping season will be no different. The pandemic has changed our world in so many ways, especially when it comes to how we shop and [...]
News Archives
COVID-19 heightens need to intertwine sales and service
If consumer demand for speedy innovation was high before COVID-19, it’s off the charts now. We’re coming off a moment in time when all kinds of entities—corporations, startups, restaurants, retailers, financial institutions, [...]
Contingency planning
Financial Readiness is something we all champion when promoting our credit union values to each of our members. Everything from building a “rainy day” fund and saving 3–6 months of pay to getting out [...]
What we all want, no matter how we voted — and how credit unions can deliver
At the beginning of COVID, all we heard was, "We're in this together." But that feeling of togetherness, while somewhat of a mirage from the beginning, hasn't lasted. Many see our country as more divided [...]
Commercial loan review tips that create stability
The initial process of qualifying a borrower for a loan is built on verifying their ability to repay the loan using the resources they have on hand, but reviewing their finances doesn’t end when [...]
The League System: Supporting credit unions during crisis
For the past few years, large wildfires have ravaged and devasted California. Just since August of this year, there have been 8,200 fires throughout the state, burning through a record 4 million acres. More [...]
Gen Z vs. Millennials – What you need to know
If you haven’t noticed, Gen Z has arrived! They are the “newest” generation to enter into the workplace and will soon pass Millennials as the largest generation, with 1/3 of the world’s [...]
Compliance: Agencies clarify BSA due diligence for charities, nonprofits
Federal financial institution regulatory agencies, including NCUA, issued a joint fact sheetclarifying that credit union and compliance efforts to meet Bank Secrecy Act (BSA) due diligence requirements for customers that are charities and other nonprofit [...]
Tax deductions not allowed for PPP loans, reiterates IRS
The IRS last week published a revenue procedure providing a safe harbor for taxpayers to deduct eligible 2020 expenses from this year's taxes under certain circumstances. The agency reiterated that taxpayers who received a paycheck [...]
Six strategies to make the most of lending in the coming year
As credit union executives and industry partners set their course for lending in 2021, they share prime areas for growing auto loan and mortgage volume. 1. Reach out to millennials. $840 million/60,000-member Point [...]
7 tips for educating members on insurance coverages
Recent trends indicate that consumers don’t stick to just one approach when searching for and purchasing auto and home insurance. While personal interaction is still important, experts recommend a newer multi-channel approach to meeting [...]
Online scheduling tools: 3 stories of deployment and adoption
When COVID-19 spread across the United States in the spring of 2020, retail institutions, including credit unions, had to pivot standard operating procedures to provide member service while adhering to social distancing and other safety [...]
NCUA adopts annual meeting, board meeting flexibility for FCUs
A few weeks ago, we blogged about holding virtual meetings into 2021 and the limitations of guidance issued by NCUA back in March 2020 with regard to the ongoing COVID-19 pandemic. Many federal credit unions ([...]
Credit union workplaces and the transition to remote working: Part 1
We recently hosted an insightful conversation between our own Mark Alguard and Erik Anderson, Director of Workplace Intelligence at Microsoft author of the HBR article “Microsoft Analyzed Data On Its Newly Remote Workforce” (https://hbr.[...]
3 ways your credit union can offer better financial education during COVID-19
The coronavirus crisis is stretching into its ninth month — and the pandemic is still weighing heavy on the minds (and pocketbooks) of many Americans. As difficult as they may be, times like these present an [...]