2022 lending forecast: A return to historic norms
Credit union loan portfolios are expected to return to historic growth rates in 2022 as CUNA economists predict a 9% increase in total loans outstanding. That’s just above the historic…
Syndicated
Diversity gains on the board
Board succession planning and recruitment has been a hot topic for a while now. This isn’t my firstblog postabout it, and I’ve been talking about it at trade conferences and…
Soft impacts and hard numbers
You’ve probably seen this quote from Maya Angelou: “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you…
3 advantages of banking with local financial institutions
In the days before the Internet, switching banks or credit unions after moving to a new city was pretty much required. Nowadays, though,online banking and mobile appslet you access and…
New Year’s resolutions Part 3: NCUA
Over the past few weeks we’ve blogged about the “New Year’s Resolutions” – i.e. the rulemaking agendas – of bothFinCENand theCFPB. Today we’ll round out this topic by discussing the…
Credit card balances are growing for credit unions – are yours?
It’s official, Q3 of 2021 NCUAdata is in.Thestatistics look promising for credit unions: A YoY growth in credit card balances has been recorded for the first time in the last six…
Spiczenski, EventsDC provide safety update on CUNA GAC
CUNA Chief Products and Services Officer Todd Spiczenski and EventsDC Chief Operating Officer Samuel Thomas spoke withCUTimesabout thelatest safety and health protocolsat the 2022 CUNA Governmental Affairs Conference (GAC). EventsDC…
White House expected to release digital asset strategy
The Biden Administrationplans to release a government-wide strategy for digital assets, outlining digital assets’ opportunities and risks. Senior government officials have held multiple meetings to discuss the plan, which is…
Good Governance: Why directors are chess pieces, not checkers
We worked with $6.5 billionHudson Valley Credit Union, Poughkeepsie, New York, on an extensive board renewal project. During that effort, the CU’s nominations subcommittee decided that every candidate on its…
Delivering focused financial education
WhenVirginia Credit Unionin Richmond teamed up with theFinancial Health NetworkandGeorge Fox Universityto conduct a series of member surveys, it learned that its female members struggled the most with financial health…
How American Express Digital Labs creates payments innovations
Historically American Express had a “build first” culture, preferring to invent its own wheels from scratch when a new idea came to mind. That’s how the strategy for Amex Digital…
Beware tax filing scams
It’s tax season, so it’s time to get your paperwork in order and hire a tax preparer. Unfortunately, though, there are thousands of scammers looking to steal your information and…
How the semiconductor shortage will impact auto lending in 2022
Semiconductor supply chain issues caused major headaches for auto lenders throughout 2021 and vehicle production continues to suffer into 2022. In this blog post, we’ll take a deep dive into…
CUNA provides suggestions for NCUA’s draft strategic plan
CUNAsupportsthe high-level goals of NCUA’s strategic plan and provided suggestions on achieving them in comments submitted Monday to the agency. NCUA’s draft strategic plan covers goals and objectives for the…
NAFCU to NCUA: Give CUs flexibility in 2022-2026 strategic plan
NAFCU Vice President of Regulatory Affairs Ann Kossachev last Fridaywrote to the NCUAregarding its draft 2022-2026 strategic plan, which was approved by the NCUA Board in November of last year.…
Private student loans and your credit
Taking out any student loan is a big financial decision. If you’ve exhausted the amount of federal student loans you’re eligible for, you may be considering additional, private loans to…
3 questions credit union leaders must ask right now
“Every day more of our life is used up and less and less of it is left.” Those are the words of Roman emperor and philosopher Marcus Aurelius. So why…
Scam victims are getting younger
Our most recent edition ofFirst Line of Defense, offered by CUES in partnership with TRC Interactive, Inc., brings updates on weather/climate disaster fraud and a reminder that everyone–regardless of age–can…
Networking + Community: Your CU in 2022 with Sara Freeman
Ah the limitless power of networking. We all want to access it more effectively, but the goal can be daunting. Luckily, we got to sit down and chat with an…
How to stop rising fraud without frustrating your members
As fraudsters continue to evolve and adapt to changing consumer behavior, having a multi-layered strategy is more important than ever. It’s not just aboutreducingthe number of incidents, becausefraud prevention hasalsobecome…
CFPB opens inquiry into “Buy Now, Pay Later” credit plans
We’re definitely cruising through January, with only one week left of the first month of 2022. It’s been a busy month, both personally and professionally.On a personal note, my husband…
CUNA’s Spiczenski provides GAC update
CUNA Chief Products and Services Officer Todd Spiczenski provided the latest safety information for the 2022CUNA Governmental Affairs Conference(GAC) in an interview withCUBroadcast.CUNA GAC will take place Feb. 27 to…
Fed asks public for feedback on issuing a U.S. central bank digital currency
The Federal Reserve Thursdayreleased a public discussion paperexamining the pros and cons of a potential U.S. central bank digital currency (CBDC). Of note, the paper invitescomment from the public on…
PODCAST: Opportunities abound in 2022
A new year doesn’t just mean new calendars in the branch lobbies. It’s also a chance for credit union leadership to discover new opportunities and find ways to improve. “It’s…