Platform “ecosystems,” once the exclusive domain of key direct-to-consumer players like Amazon and Google, are set to have a significant impact on retail banking institutions. Banks and credit unions need…
While credit unions support efforts to rein in high-cost loan products that aren’t consumer-friendly, it warned against overly prescriptive rules that could hamper availability of safe and affordable credit union…
Continuing NAFCU's credit union priorities push for the new year, association President and CEO Dan Berger and Vice President of Legislative Affairs Brad Thaler were on Capitol Hill Wednesday to…
While he’s most famously known for saying “None of us is as smart as all of us,” best-selling author Ken Blanchard penned another quote that’s always been a favorite of…
One expert is warning extending auto loan terms could be even riskier in 2020 should depreciation rates on used cars return to more normal levels, putting borrowers even deeper into…
Strategic planning is one of my all-time favorite activities. There is nothing better than getting management teams and boards offsite, out of their routines, and thinking about the future. As…
Cyber crime is a clear and present danger. Most, if not all, organizations take precautions to avoid loss from traditional robberies or theft, but may not give cyber security a…
How many people attend your credit union or bank’s strategic planning session? Ten? Twelve? More? Regardless of the number of voices, have you ever paused to really consider just how…
There’s nothing artificial about the intelligenceFirst Financial Federal Credit Union($1.0B, Lutherville, MD) is applying to the new loan decisioning solution the credit union has created in-house. The Baltimore-area cooperative is…
NCUA’s latest Letter to Credit Unions (20-03) outlines submission of 2019 Home Mortgage Disclosure Act (HMDA) data. Credit unions located in metropolitan areas that engage in certain types and volume…
Total vehicle sales increased to a rate of 16.8 million annualized units in January – up 0.8 percent from last year. Of note, strong light truck sales beat expectations and…
When it comes to leveraging member data, 2020 needs to be the year credit unions do things they’ve never done before, says Tom Davis, making clear those efforts are not…
The tech revolution in financial services continues to evolve, coaxing organizations to change and grow along with it. The new year and decade will present the industry with fresh challenges…
The Credit Union National Association, a major lobbyist and trade association for credit unions, is recovering after its systems were knocked offline earlier this week following a “cyber incident.” CUNA,…
As digital tools become a more integral part of our daily lives, the days of doing business strictly in person are becoming a thing of the past. The best way…
According to a global survey of managers and executives conducted byMIT Sloan Management Reviewand Deloitte, close to 90% of executives anticipated that their industries would be disrupted by digital trends…
As part of a recent appropriations bill, Congress extended the National Flood Insurance Program (NFIP) to September 30, 2020!The National Flood Insurance Act of 1968 (NFIA), as amended and implemented…
CUNA wrote in support of NCUA’s proposal to raise the residential appraisal threshold earlier this month, as CUNA originally requested the rule to give credit unions parity with banks. Several…
As health officials analyze reports of coronavirus cases as the flu season continues, NAFCU is encouraging credit unions to revisit or update their business continuity plans to ensure continuous operation…
Human resources’ primary purpose should be the fostering of a company’s human capital. However, the operational side of HR can get in the way. As organizations grow, more and more…
Visa Inc. is planning the biggest changes in a decade to the rates U.S. merchants pay to accept its cards, hoping to persuade more people to abandon checks and adjusting…
Conscious regard for the facts tells us that fintechs and big banks are innovating at a rate that far exceeds credit unions, primarily in the areas of channel integration and…
Financial institutions that structure and optimize pricing for loans are able to make sure they are adequately compensated for the risk they are taking. Instead of pricing loans based on…
On July 24, 2019 the NCUA finalized a rule amending its regulations regarding fidelity bonds (Parts 704 for corporate credit unions and 713 for natural person credit unions). These rule…