Back to the Future – DoD reverts MLA guidance to 2016 edition
On February 28, 2020 the Department of Defense (DoD) issued a third interpretive rule for its Military Lending Act (MLA) regulations. This adds one more finite question & answer to…
Syndicated
Is your overdraft program UNMANAGED?
Is your credit union offering only static, one-size-fits-all overdraft limits? Giving every member the same overdraft limit means you’re working with an UNMANAGED program and limiting your ability to manage…
Credit union tax status is ‘crucial’ part of financial system
The importance of not-for-profit financial cooperatives is as significant today as it’s ever been, CUNA President/CEO Jim Nussle wrote Tuesday for a hearing discussing the proposed Treasury Department budget for…
NAFCU meets with FCC to further address call blocking concerns
Members of NAFCU's Regulatory Affairs team joined a coalition of other organizations yesterday for a meeting with the Federal Communications Commission (FCC) to discuss the Declaratory Ruling and Notice made…
HR Answers: How to increase frontline employee retention through engagement
According to BalancedComp’s annual salary and incentive survey, the average employee turnover rates for banks and credit unions peaked at 19.7% in 2018. Unlike banking and tech firm competitors, credit…
What is a credit union? The key to snagging a low-interest mortgage
When shopping for a mortgage, there's one lender that home buyers often overlook: credit unions. So what is a credit union? It's a cooperative financial institution owned and controlled by…
Is fintech ready for coronavirus?
The coronavirus outbreak is having a wide range of side effects, from pasta shortages at U.S. grocery stores to a rise in stock prices for video-conferencing companies. The ripples could…
In celebration of Women’s History Month
As I reflect on International Women’s Day (March 8) and National Women’s History Month, I realize just how profound of an impact the women’s movement has had on my professional…
Competitive compensation strategies
As job surpluses, quit rates and employee turnover rates continue to rise, so too does the need for employers to attract and retain employees. These factors have led to increases…
‘Trust, but verify’ in your watchdog role
It’s not enough to know employees are doing their jobs. Follow that up by documenting how they’re doing their jobs and how they’re following policies and procedures. “The mantra for…
CUNA engaged with FY2021 appropriations hearings this week
Both chambers of Congress are in Washington, D.C. this week and CUNA will be engaged with a number of hearings covering credit union priorities. Appropriations bills for fiscal year 2021…
This week: NAFCU watching CFPB constitutionality arguments, Super Tuesday primaries
It's a busy week in Washington with Congress in session and most news coverage focused on tomorrow's Super Tuesday contests – where 14 states will hold their presidential primaries. In…
Compensation collaboration
Later this year, CU Management will publish highlights from the CUES Executive Compensation Survey. Last year we reported that the median CEO total compensation for all assets was $289,576, with…
Standing out in today’s financial services landscape
Customers have endless choices. Go to the grocery store or have a meal kit delivered? Take your car or use a ride-hailing service? Go to the movies or stream? This…
How to battle flat or down auto market
With the auto market expected to be flat or down this year compared to 2019, one expert is contending that how well credit unions fare will depend on how well…
Member experience drives digital dealings at Bay Federal
Bay Federal Credit Union($1.1B, Capitola, CA) is four years into a new digital presence that it continually upgrades by listening to the Voice of the Member. That’s the name of…
Calling all rising stars: Apply to Crash THINK 20!
CO-OP’s THINK 20 conference – May 4-7, 2020 – is fast approaching, and we are once again looking for rising stars within the credit union industry to join us in…
Rates, charges and fees vs. NCUA’s interest rate limitation
A couple of weeks ago, we wrote about Regulation Z’s rule that details the requirements for over-the-limit transactions on a credit card and the opt-in process that must be completed…
Call blockers should provide redress mechanisms for legit calls
The Federal Communications Commission should require entities that block or label calls to provide real-time notification and adopt effective, transparent and timely redress mechanisms, CUNA wrote to the FCC Friday.…
NAFCU closely monitoring coronavirus
The Centers for Disease Control and Prevention (CDC) earlier this week provided an update on the spread of the coronavirus also being referred to as COVID-19, as new cases were…
Grow your slice of the digital pie
Digital has magnified the marketer’s playground, providing both new tools and new channels for reaching audiences. Despite the innovation, there remains a constant: Marketing abhors a vacuum. “The truth is,…
Vote for the 2020 Credit Union Hero of the Year
CUNA has announced the finalists for the 2020 Credit Union Hero of the Year award, sponsored by Symitar. Voting is open to select one of these individuals as the 2020…
NCUA approves CECL policy statement; HMDA annual LAR deadline
During the National Credit Union Administration (NCUA) Board's February 2020 meeting, the NCUA Board approved the final Interagency Policy Statement on Allowances for Credit Losses(Policy Statement).NCUA, together with the three…
Coronavirus wipes $5 trillion off global stocks as it spreads to new countries
Global stock markets have plummeted to their worst week since the 2008 financial crash, with $5 trillion wiped off global stocks as the coronavirus takes hold in new territories and…