Grow your ‘curiosity muscle’
If your credit union is wildly successful, be very worried. That’s when complacency sets in, says Diana Kander, author of “The Curiosity Muscle." “Every dollar you make is a reason not to change,” says [...]
News Archives
Former MCU board chair pleads not guilty as CU reports drastic membership & revenue loss
Sylvia Ash, a New York judge and former board chair of the $2.9 billion Municipal Credit Union, pleaded not guilty to three obstruction of justice charges in U.S. District Court in Manhattan Monday. [...]
Eye on payments 2019: Part II – Debit preferred, even online
It may surprise you to learn that a shift in preferred payment method occurred over the past year, where people of all ages are now reaching to pay with debit instead of credit – even for [...]
Hemp regulations bring banking issues to the forefront
On October 29th, the USDA issued interim final rules providing a framework for the legal protection and distribution of hemp in states that choose to legalize it. The long awaited regulations bring about a new [...]
8 avenues to avoid a fair lending exam
The Federal Financial Institutions Examination Council (FFIEC) in September released HMDA data for 5,683 U.S. financial institutions on 12.9 million home loan applications in 2018. The report includes 48 data points, including [...]
5 actions to take when tech cripples financial institution competitiveness
Who is really setting your financial institution’s strategic direction? You may think it’s top management and the board, and you may even think that the marketing function is exercising some influence through insights [...]
Social media ads vs content for credit union member acquisition
For several years now, most credit unions have used social media to bring in new members and engage existing ones. However, new changes to business accounts and advertising might affect their social media strategy going [...]
How to be at the center of a member’s financial universe
You’ve got competition everywhere. If you want to stay relevant, you’ve got to be able to provide something your competitors and fintechs aren’t providing. Here are three ways you can continue to [...]
Our global movement: 274 million strong and growing through engagement
The recently released World Council of Credit Unions’ 2018 Statistical Report illustrates the continued growth of credit unions and cooperatives, with 274 million members worldwide—an increase of 14 million from the year before. What [...]
Compliance is the baseline for credit union diversity-equity-inclusion programs
As credit unions increasingly embrace diversity, equity, and inclusion (DEI) initiatives and seek to better represent and serve their ever-changing communities, understanding the regulatory components that touch such initiatives is an important starting place. For [...]
Don’t be a Judgy McJudgerton
Last week I was running around town making local connections. I truly love doing that. I like to frequent local Ma & Pa shops and give them business. Business from me personally and business from [...]
Compliance: 2020 thresholds for higher-priced mortgages, Regs Z, M
The Consumer Financial Protection Bureau and other federal agencies have announced thresholds for certain regulations for 2020. This includes for higher-priced mortgage loans made during calendar year 2020 and Regulations Z and M for consumer [...]
Despite GM strike, October jobs see gains
Despite a General Motors strike that depressed the month's numbers, October's "job report was a solid one which supports [last] week's Fed decision of a hawkish rate cut," said NAFCU Chief Economist and Vice President [...]
Long-term rate decrease spurs plan adjustments
In recent years, credit unions have been dedicating more assets to split-dollar life insurance arrangements to reward and retain top executives. According to National Credit Union Administration 5300 data, assets for collateral assignment split-dollar life [...]
Bet on yourself to overcome setbacks
In 2013, the FBI arrested Molly Bloom and confiscated her assets due to illegal activities related to her poker business. In 2018, she attended the Academy Awards after her bestselling memoir, “Molly’s Game,” earned [...]