Succeed by asking “What if?”
The coronavirus pandemic has changed the way we do business. It's caused us to review our priorities to ensure they align with what our members/customers expect from us. It's changed…
Syndicated
Video banking comes of age in the time of COVID-19
Virtual tellers are serving members with a smile, be it via stand-alone machines or handheld smartphones. Shuttered lobbies have forced members into drive-thru teller lines and onto digital channels like…
$10B of PPP funding set aside for CDFI lending
The Small Business Administration (SBA) announced Thursday it is setting aside $10 billion of Paycheck Protection Program (PPP) Round 2 funding to be lent exclusively by Community Development Financial Institutions…
CU leaders discuss trends in operations, payments, more amid COVID-19
Mission Federal Credit Union President and CEO Debra Schwartz, Webster First Federal Credit Union President and CEO Mike Lussier,Strategic Resource ManagementSenior Vice President Larry Pruss, and NAFCU President and CEO…
On Compliance: Will a COVID-19 recession lead to supervisory enforcement actions?
The National Credit Union Administration and state regulators have taken a variety of actions to grant credit unions regulatory relief during the COVID-19 pandemic. Most of those regulatory relief actions,…
Assisting vulnerable populations
Some of the people who have been hit hardest by the coronavirus (COVID-19) pandemic are also those who have the least amount of resources and funds available to them. Point…
How balancing members’ needs improves end-to-end ATM experiences
ATMs are known for their convenience, offering walk-upor drive-through access to financial products like checkingor savings accounts. Users leave with cash in hand or have checks deposited in minutes, all…
Farewell independent Federal Reserve . . . hello modern monetary theory?
The Federal Reserve Open Market Committee (FOMC) April 29th meeting minutes, released this past Tuesday had one rather alarming comment. "Several participants remarked that a program of ongoing Treasury securities…
How to add secure forms to your credit union website
One of the more common questions we get from our credit union website clients is “how can we put secure forms on our website?” Credit unions can be far more…
A credit union career isn’t for me. Change my mind. (Part 1)
Unemployment in the United States jumped into the double-digits in April, hitting 14.7%as the fallout of the coronavirus continues to deepen. But even as credit unions put systems and strategies…
Revive and reengage member swiping & deposit activity
In a blow to our economy unlike anything we’ve seen before, spending has plummeted across all payment methods and has impacted nearly every category, except for necessities such as groceries.…
CUNA’s van Rijn discusses coronavirus loans with Forbes
Around 80% of credit unions are offering some form of new loan for their members, CUNA Senior Economist Jordan van Rijn told Forbes recently for an article on coronavirus hardship…
New-home sales rise slightly amid the coronavirus pandemic
New-home sales were up 0.6 percent from March's revised rate of 619,000 annualized units to 623,000 units in April. NAFCU Chief Economist and Vice President of Research Curt Long noted…
Tech Time: 4 signs that your credit union’s website needs an overhaul
The financial services industry has never really been static and has long been subject to shifts in government regulations and tax codes, disruptive technologies, economic policies, inflation rates and, most…
MED5 FCU kick-starts community mask initiative
A South Dakota credit union CEO has leveraged a single donation into a community effort to provide supplies for frontline workers battling the coronavirus (COVID-19). Pam Brown-Graff was watching the…
Expired identification documents and CIP during COVID-19
A month ago I blogged about BSA/AML compliance during the COVID-19 pandemic. Today’s post covers one of the most frequently asked questions the compliance team at NAFCU has received the…
Stay smart at home with these 4 e-Learning platforms
Have you been dreaming of adding a new skill set to your resume, but you just haven’t had the time? Maybe you set a goal for yourself many years ago,…
CommonWealth One makes the most of staying at home
These might be uncertain times, but that doesn’t mean down time has to be chalked up to lost opportunity. CommonWealth One Federal Credit Union($413.2M, Alexandria, VA) has turned to professional…
Arkansas Governor thanks CUs for meeting member needs
Arkansas Governor Asa Hutchinson thanked credit unions for their work on behalf of communities across the state, particularly with so many impacted by the coronavirus disease (COVID-19) pandemic. Hutchinson has…
PPP loan forgiveness rules for lenders, borrowers released
The Small Business Administration (SBA) issued two interim final rules (IFRs) providing paycheck protection program (PPP) borrowers and lenders with additional information on loan forgiveness and the loan review process.…
Good Governance: Tuning up your board’s meeting practices
Have your board and staff leadership teams been running a little hectic lately, as you respond to COVID-19? As things slowly start to get more settled, it could be a…
Keeping your credit union collection department compliant and up-to-date
As we experience the unprecedented impact of the COVID-19 pandemic on the U.S. economy and unemployment rates, an unfortunate result is the expected increase in delinquencies – which means an…
Purposeful Talent Development: Attending live virtual learning vs. getting the playback
We have access to so many on-demand resources these days, including digital or audiobooks, streaming TV shows and movies, virtual workouts, and recorded webinars and podcasts. As a result of…
5 ways your financial institution can use digital tools to connect with customers during COVID-19
In response to the continuing challenges related to COVID-19, many financial institutions are relying on digital tools, including document management systems, to keep some semblance of normality. Document management systems…