According to economists, a recession is looming. In a recent survey by the National Association for Business Economics, 74% of economists who responded expect a recession by the end of 2021. Historically low levels of [...]
Affinity Plus Federal Credit Union($2.3B, Saint Paul, MN) has been busy. In the past three years, the second-largest credit union in the Gopher State has undergone seven major systems conversions, including changes to [...]
Growth in core, low-cost deposits seems to be a source of frustration for many credit unions of late. While overall credit union deposit growth is positive, much of the growth is in the form of [...]
Perhaps you’ve ran into this before. You’re in a car accident and your vehicle is declared a “total loss.” What does that mean? What happens next? Assuming there’s been an accident, a [...]
Today, payments options for consumers are endless, and credit unions should be prepared to provide members with access to as many offerings as possible. While new payment methods such as digital wallets and real-time payments [...]
Sounds crazy, doesn’t it? Yet that seems to be the thinking of some “old school” credit union executives. And at a very fundamental level, they’re right. Just like when St. Mary’s Bank [...]
The month of October is a great time of year that hosts one of my personal favorite holidays: no, not Halloween or the “unofficial holiday” of the annual Homecoming Football Game. October 17th is International [...]
President Donald Trump Wednesday signed an executive order requiring federal regulatory agencies seek comment on major federal guidance and better explain the guidance to the public. “Today’s executive order is a strong step toward [...]
At NAFCU's Congressional Caucus last month, NCUA Board Chairman Rodney Hood announced that the agency has the authority to phase in the Financial Accounting Standards Board's (FASB) current expected credit loss (CECL) standard. NCUA Board [...]
In August, our family welcomed an au pair from Italy who was supposed to be with us for a year. With a busy household of three young kids, my husband and I were hopeful this [...]
New research from Minneapolis-based Code42 underscores the major data security threat posed by employee actions; and disputes the notion that personnel are an effective frontline of defense against data breaches. The data loss protection provider [...]
Artificial intelligence and machine learning promise nothing short of a customer experience transformation in retail banking — but the best ideas for their application could fail if projects are not built on firm foundations of clean, [...]
If you love someone you tend to kiss them. Your significant other. Your kids. Your pet. And whether you love (or hate) your marketing and marketing strategy, it’s time you KISS it as well. [...]
Greetings Compliance Friends! The NAFCU Compliance Team has been tirelessly combing through NCUA’s recent final rule which makes several updates to the FCU model bylaws located in Appendix A to Part 701. NAFCU previously [...]
The NCUA states that the rising threat of ransomware is a particular concern for smaller financial institutions like credit unions. Ransomware attacks skyrocketed in the first quarter of 2019, according to the Beazley Breach Response ([...]
