Syndicated

One clear lesson from the coronavirus pandemic has been the need for adaptability. Change is not an uncommon characteristic in business or life. But when situations change quickly – affecting…

TheSmall Business Administration, in consultation with the Treasury, will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and…

NAFCU sent members a Regulatory Alert Wednesday outlining the NCUA'srequest for information (RFI) related to its communication methods in an effort to increase transparency and promote efficiency.The association outlined the…

As we head into the new year, credit unions and their boards are typically finalizing their budgets for the upcoming year. This year that means dealing with the operational impacts…

What do members really want? Simply put, they want their credit union to support their financial wellbeing. Members who agree that their credit union looks out for their financial wellbeing…

Today’s uncertain economic conditionsand the continuing effects of the COVID-19 pandemic have left financial institutions scrambling to develop and implement consumer retention strategies to drive revenue. Social distancing measures put…

Faced with an economic downturn and rising unemployment, financial institutions and other organizations need a more complete picture of the consumer. As lenders recalibrate their acquisition and risk management strategies,…

It’s a fact: banking consumers are primarily relying on digital channels for their banking needs. According to a recent Aite report, more than half of all generations—including seniors and baby…

For community banks and credit unions, digital channels are the most cost-effective way to deliver financial products and services. But as consumers embrace cashless payments and online banking, financial institutions…

The theme of 2021 National Credit Union Youth Month, which occurs in April, is “Be a credit union saver and your savings will never go extinct.” “National Credit Union Youth…

NAFCU President and CEO Dan Berger wrote to the Small Business Administration (SBA) following the announcement that there will be a dedicated window for paycheck protection program (PPP) applications from…

Doesn’t it feel good to turn the page to 2021? Perhaps not much has changed, but having a fresh start with the new year brings hope of better things to…

The coronavirus pandemic made 2020 a challenge to say the least, but it also brought to light the increased need for educating consumers on financial wellness.In our last blog, we…

Passed by Congress on Dec. 21, 2020,the Economic Aid to Hard-Hit Small Businesses and Nonprofits and Venues Act, a part of the Continuing Appropriations Act, 2021, covers the incremental $284…

Financial wellness is a linchpin of member service atTeachers Credit Union($3.9B, South Bend, IN), so it’s appropriate the veteran staffer now in charge of that effort comes directly from the…

The NAFCU compliance team has blogged about field of membership a couple of times over the past few months. The first blog provided an update on the litigation between the…

CUNAand the African-American Credit Union Coalition (AACUC) announced a strategic alliance to further diversity, equity and inclusion (DEI) within the credit union movement. The collaboration agreement focuses on a scholarship…

Total consumer credit rose 4.4 percent in November (seasonally-adjusted, annualized), up 0.4 percent versus a year ago. NAFCU Chief Economist and Vice President of Research Curt Long analyzed the latest…

With 2020 came a move to all things digital. In payments, digital-first cards—new and replacement cards that are available digitally before a physical card is issued—have risen as the new…

It’s not news that revenue from payments is at risk. According to Accenture Research, by 2025, nearly 15% of retail payments revenue will be at risk from card displacement by…

With COVID-19 continuing to wreak havoc on the US, credit unions and members have had to adapt to a primarily digital world. But it has also created a conundrum: How…

Real-time payments (RTP) is gaining traction in the U.S. as more financial institutions (FIs) enable their Direct Deposit Accounts (DDA) for this first new payment format in over 40 years.…

In the second part of this series, we're focusing on key fraud prevention strategies for your credit union. We'll discuss tips for institutions and members alike on keeping their data…

If there is one word that has kept the banking and fintech industry awake (apart from “COVID-19,” that is) it would be ‘Contactless’. Payment options that reduce the number of…