NAFCU has announced the results of its Board of Directors election. A new board member, Frank Mancini, President and CEO of Connex Credit Union (North Haven, Conn.), will fill the…
If you think it’s time for someone to put serious brain power and artificial intelligence tools into producing better chatbots and robotic interactive voice response for credit unions, there’s good…
I accidentally fell into the credit union movement. I started my financial career as a teller for a commercial bank right out of high school. When my position as assistant…
Convenience is everywhere. Consumers are offered nearly real-time service (and next-day delivery) from Amazon, Doordash, and Google. And while expectations are rising for all industries (including financial services), not everyone…
Here are two phrases commonly found in the mission or value statements of banks and credit unions: “The path to financial wellness starts here.” Or, “Helping members achieve financial success.”…
Most credit union observers agree that the emergence of financial cooperatives was one outgrowth of the reform movements affecting many areas of American society at the beginning of the 20th…
On June 4, 2021 the CFPB published a new compliance aid – some frequently asked questions about Regulation E. Specifically, these FAQs address issues surrounding unauthorized use and investigations of…
The U.S. Credit Union System Digitization Working Group, led by CUNA Executive Vice President and Chief Engagement Officer Greg Michlig, released a purpose statement Thursday. The group includes 41 credit…
Yesterday, NAFCU’s award-winning advocacy team monitored a Senate Banking Subcommittee hearing to examine thedigital dollar. The hearing largely focused on ensuring privacy, security, and countering China’s attempts to become the…
Even the smoothest credit union merger is a whirlwind of details. Of course, making sure the accounts transition smoothly is job #1, but merger partners also have to pay close…
Large legacy financial institutions are scrambling to become technology powerhouses, competing for software expertise to create user-friendly apps and convenient digital service. Smaller startups — most of them “fintechs”— make…
To become a leading financial institution in your area, you have to stay five steps ahead of the competition. But how? The fact of the matter is that a flooded…
The way Americans work and what employees value in a benefits package has been rapidly evolving for the past decade. In the wake of last year’s COVID-19-related shutdowns and subsequent…
The emergence of the coronavirus pandemic has tested our leadership abilities. As leaders, we often find ourselves taking on a new job responsibilities during times of crisis. Wise leaders look…
Despite the turbulence of the last year due to the COVID-19 outbreak, the consumer credit market is poised to make a strong recovery. As detailed in the just-released Q1 2021…
There have been substantial developments in cryptocurrencies lately, but what does it all mean for your credit union? We’re talking with Larry Pruss, Senior Vice President at SRM, on recent…
It feels like everywhere you look these days, you see companies of all types leveraging advances in machine learning, natural language processing, and other forms of artificial intelligence. Through this…
CUNA joined several organizations Wednesday to encourage Congress to carefully assess the costs and benefits of imposing a new level of data collection to the tax reporting structure. President Joe…
The Federal Reserve last week issued a proposed ruleto govern funds transfers over its FedNow Service that would establish a new, comprehensive set of rules and set out legal rights…
A couple of weeks ago, I had professional business photos taken at my home. I always dread photos because I am not a natural smiler. Even when I was a…
I am a reformed banker and was doing commercial lending for a community bank in southeast Wisconsin. An old middle school friend was the financial analyst at Guardian Credit Union…
You could say uncertainty is the only certainty in the financial services industry. In addition to the challenges of a global pandemic, credit unions are navigating constant change – whether…
In late May, the National Credit Union Administration board approved a final ruling on derivatives use that aims to offer some federal credit unions more flexibility to manage interest rate…
I talk to credit union CEOs almost every day. As we approach the other side of this pandemic many have accelerated their move to digital, understanding that their members’ priorities…