The Federal Reserve's second-quarter senior loan officer opinion survey (SLOOS) revealed that banks have eased lending standards in several areas following a year-long trend of tightening due to the coronavirus…
The average cost of a cyberattack in the financial industry is between $4 – $6 million, making it a profitable matter of interest for hackers all over the world. The…
One factor that credit unions search for when choosing a merger partner is a “good fit.” But what does “fit” mean? It’s not like trying on a pair of shoes…
Cloud computing has changed the cybersecurity industry in many ways. For starters, it has made the digital world more convenient through availability, the scope of data, and interconnective capabilities. However,…
Born in 1987, I was your typical 90s kid. I kept my Tamagotchi™ on the belt loop of my JNCOs while jamming Blink 182 on my non-skip CD player. I…
Happy Wednesday, compliance friends, I hope you are all having a great week! In case you need it: we’re halfway to Friday; keep up the good work! When the COVID-19…
The basic concept of decentralized financial services has been around since the beginning of the credit union movement in the early 1900s. Immigrants required loans to buy animals and farm…
CUNA President/CEO Jim Nussle, Deputy Chief Advocacy Officer Elizabeth Eurgubian, and Senior Director of Advocacy and Counsel Elizabeth LaBerge spoke with acting Federal Housing Finance Agency (FHFA) Acting Director Sandra…
Secretaries of the Department of Housing and Urban Development (HUD), the Treasury Department, the Department of Agriculture, the VA, along with FHFA Acting Director Sandra Thompson released a joint statement…
If you’ve worked at the same credit union for years, you’ve likely grown accustomed to how things are run. Learning that there will be a change of leadership may then…
COVID accelerated the online movement for all aspects of social and economic life. In credit unions, some assert the transition away from the branch-based model of financial services to an…
As a millennial, you’re part of a unique and special generation. You’re probably at the exciting stage in life where you’re just starting out — or you’re beginning that career…
"Each year, the Great Pumpkin rises out of the pumpkin patch that he thinks is the most sincere. He's gotta pick this one. He's got to. I don't see how…
Do as I say, not as I do. It’s never been an effective policy, and it never will be. That the command-and-control leadership style held reign for so long in…
“Sales” is not a dirty word atAll In Federal Credit Union($2.0B, Daleville, AL). It’s the avenue to being all a member-owned financial cooperative can be and a lifeline to survival…
Credit union compliance isn’t just a headache—it’s a big expense. Not just the cost of noncompliance, but keeping up. Credit unions spend $115 per year, per member household on regulatory…
The House is out for its annual August recess, while the Senate is expected to consider infrastructure legislation and a potential budget resolution this week. NCUA Chairman Todd Harper will…
The NCUA in July issued two prohibition notices, prohibiting individuals previously associated with credit unions from any future participation in the affairs of a federally-insured financial institution. Violation of a…
I’m probably not supposed to have favorite issues of CU Management, but this month is definitely in my top 10. Not only do I love the beautiful cover, but the…
There is a somewhat dated adage in business that it costs five times more to acquire a new customer than it does to retain an existing one. However, in focusing…
How can Credit Unions cope with digital transformation and the rising competition with banks? What can be done, during the member’s journey, to solve needs across every interaction between the…
Being denied a loan for a home or a car — or anything — can feel like a punch in the gut. But no matter how you got to the…
Collection agencies are constantly looking for ways to reduce their collections costs, and card processing is one of the best ways to do so. If you’re a collections agency or…
NAFCU’s compliance team receives questions from time to time about how long of a maturity limit may be permitted under certain circumstances. The maturity limits of loans often vary based…