The rise of credit unions in auto finance
As credit unions consolidate, their membership bases are growing. In 2017, the number of members per credit union grew to nearly 20,000, up from 13,700 in 2012. At the same time, credit unions [...]
News Archives
Financial wellness strategies crucial for credit union growth
Financial institution marketing has long focused on the milestones of life — first big job, marriage, homebuying, retirement. But that legacy focus may soon be eclipsed by the concept of financial wellness. Major life events clearly [...]
Only 1 in 5 CUs offer free checking
Moebs Services is reporting that credit unions have dramatically reduced their offerings of free checking. Free checking has declined by 59.2 percent so far this year at credit unions. According to Moebs Services, only [...]
Using the Windows 10 update to enhance the ATM experience
Nearly a third of Americans visit the ATM at least once a week.1 Even after 50 years, ATMs continue to be an important self-service channel between credit unions and members looking to deposit checks, [...]
4 ways to foster social media engagement
The existence of social media is not breaking news, but its widespread adoption in today’s increasingly digital world makes it a topic that continues to gain in importance. By some estimates, there are 3.[...]
How to talk finance: How and why every generation spends their money
Particularly in the consumer finance market—personal loan, insurance, and credit products have a staying power, but there is a need to remind consumers how these products can benefit them. In order to reach and [...]
5 ways to ensure TRID compliance for credit unions
TRID rules and regulations are designed to give consumers a clear and easy to understand picture of the costs involved in a mortgage. Credit unions need to navigate these rules very carefully in order to [...]
Let’s do better: Educate members to prevent card fraud
Card data is one of the most commonly compromised pieces of data in a breach. There is still more we can do to help protect credit union members' data security. There are five key industry [...]
4 ways to drive loan growth
It’s fall, which means most of us are waist deep in budget and strategic planning discussions. It wouldn’t surprise me if loan growth is one of your top priorities in 2020 (as usual). [...]
Compliance: CFPB issues FAQs on SAFE Act amendments
The Consumer Financial Protection Bureau (CFPB) has published four frequently asked questions about the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) of 2008, and the amendments made by enactment of S. 2155. [...]
NAFCU supportive of NCUA’s hiring reform; requests additional details
NAFCU offered its support for the NCUA's proposed guidance that would allow credit unions to more easily hire job candidates with minor criminal records as it "ensures the safety and soundness of credit unions while [...]
Why care about culture, and how to make it thrive
Although not as easy to pin down as revenue or retention, organizational culture is perhaps the single biggest thing impacting your employees and your members right now. And it’s quite likely you’re not [...]
Costly account leads to big change
Free checking is in the “coffin,” according to one new report, which has found a rapid acceleration in the number of credit unions eliminating their free checking offerings. A new report from Moebs $ervices indicates [...]
Our best strategy: Preparing for the worst
Nobody likes to dwell on the unthinkable. But September was National Preparedness Month, making now an opportune time to take stock of how ready we are personally and collectively for a natural disaster or other [...]
Visa brings installment payment options to the US
The millennial generation is like no other, especially when it comes to matters of the wallet. Sixty percent of millennials in the U.S. said that they are interested in point-of-sale financing for large online [...]