The current state of mortgage subservicing
A mortgage relationship between member and lender can last for decades. Credit unions can also completely divest themselves from both financial and servicing responsibility almost as soon as the deal…
Syndicated
How credit unions can maximize financial inclusion for members
Here is a statistic to perk your eyes and ears: Underserved consumers spent $189 billion on fees and interest across five financial product categories in 2018 that included short-term credit.…
Creating effective meetings
People seem to love meetings. Yet, we have all seen that not everything requires a meeting. When a meeting is necessary, it must have a clear purpose and agenda. John…
NCUA issues complex CU leverage ratio proposal for RBC compliance
NCUA issued a proposal on a complex credit union leverage ratio (CCULR) at its July 22 board meeting. CUNA supports the option for a CCULR when complying with NCUA’s risk-based…
Last chance to save $250 on NAFCU’s online training
Tomorrow is the last day to save $250 off of NAFCU's online training subscriptions with code SUMMER. Credit unions can secure invaluable training for their staff and board until 11:59…
Cannabis banking can be a catalyst for credit union growth
Over the past several months it's been hard to ignore the seemingly constant stream of news regarding states enacting new or updated legal cannabis programs. A notable example is March…
How to prepare for the next cyber attack
What is your cyber recovery strategy and cyber risk threshold? Who has better insight into your cyber vulnerabilities – your IT leader, or cyber criminals? Does cyber insurance make you…
What credit unions are all about
Often people wonder what is a credit union, and how are they different from a bank? Here we have put together a quick list of what credit unions are all…
What’s with all the ‘why’ talk?
You and 55 million others have seen Simon Sinek’s TED Talk, “How great leaders inspire action.” It’s an inspiring, captivating and straightforward 18-minute speech that links many successes of those…
How to convert customers to paperless billing
Some customers might prefer paper bills for perceived benefits like record retention and physical reminders of upcoming payments due. However, the global pandemic has increased the demand for paperless everything.…
Mergers shouldn’t be your organization’s primary tool for growth
On the one hand, mergers are a key way for credit unions use to grow so they can serve more members and benefit from economies of scale. On the other…
Final WCUC morning session explores impact of AI on credit unions
Financial services are being forever and irrevocably disrupted due to artificial intelligence—and credit unions will never be the same because of it. That is the message Dr. Ayesha Khanna, Co-Founder…
NAFCU Reg Committee discusses change in leadership at FHFA, recent regulator proposals
NAFCU's Regulatory Committee met Tuesday and discussed proposed rulemakings currently open for comment from the NCUA, the Federal Reserve, and the Department of Housing and Urban Development (HUD). NAFCU staff…
Leadership Matters: Building a culture of trust
Why is it that mid-level managers from a variety of areas—sports, healthcare, sales, banking, insurance, manufacturing, churches, non-profits, academia and the military, to name a few—who appear ready, willing and…
Assess your vendors’ use of network-wide access tools and ask questions like these
Kaseya is the latest company to be victimized by a cyberattack. Like theSolarWinds eventearlier this year,this attacknot only affects Kaseya but also hundreds of its clients. A remote monitoring and…
Consumers are relying on you: How to support account holders through financial literacy
125 million US adults live paycheck to paycheck, 33% of consumers have less than $1,000 saved up for an emergency and most Americans wouldn’t consider their financial status healthy. Combine…
To sell or not to sell your card portfolio, that is the question
Buildinga robust credit card portfoliois integral to credit unionhealth andgrowth. Credit cards represent three out of every four loan accounts, outpacing other loan product acquisitions by nearly 56 percent.1And once…
CFPB’s COVID-19 Mortgage Servicing Final Rule: Foreclosure safeguards
Happy Wednesday, compliance friends! We’re halfway through another week of summer. I hope you’ve been able to stay safe and enjoy it, so far! The Consumer Financial Protection Bureau’s COVID-19…
White paper: The battle for small business lending – part one
In this series, we will lay out a battle plan for overcoming obstacles and conquering the competition in the digital small business lending space.
Analyzing the credit unions that expanded via SEG additions in 2019
Our recent article,Analyzing Credit Unions' 2019 SEG Additions provided insight intothe types of select employee groups (SEGs) federal credit unions are adding. Now, let's talk about the credit unions that…
MCUEs: Loans outstanding increased 0.8% in May
Credit union loans outstanding increased 0.8% in May, compared to a 0.6% increase in April of 2021 and a 1.1% increase in May of 2020, according to CUNA’s latest Monthly…
NAFCU, CU trades urge Senate Armed Services Committee to omit lease provisions from NDAA
NAFCU President and CEO Dan Berger, along with the heads of the Defense Credit Union Council (DCUC) and CUNA, wrote to the Senate Armed Services Committee ahead of tomorrow's full…
Nothing beats the real thing
New hires for contact center positions atCorning Federal Credit Union($2.0B, Corning, NY) are often entry level. These hires are typically in their early 20s and from outside the financial services…
Chatbots are popular, but are they up to the task?
Financial institutions have increasingly been utilizing Chatbots over the last few years. But when the stay-at-home orders hit during the pandemic, adoption accelerated dramatically. Research from Cornerstone Advisors revealed that…