CUNA Board election results announced
CUNA’s Corporate Governance Committee has announced the results of the District 3, Class A special election for the CUNA Board of Directors. Ron Smith, President of Enbright CU in Nashville,…
Syndicated
NCUA to accept ‘good faith efforts’ for CDD compliance
Acknowledging implementation concerns related to the Financial Crimes Enforcement Network's (FinCEN) customer due diligence (CDD) and beneficial ownership provisions, NCUA Chairman J. Mark McWatters said "NCUA examiners have been instructed…
The evolution of overdraft – It’s not the wild west anymore!
In the early 2000s, as overdraft processing was evolving from a back-office burden into a full-blown business line and revenue stream, it seemed that everywhere you turned there were vendors…
What ‘due diligence’ in benefits investing means
The first step in exercising due diligence is learning exactly what “due diligence” means. When it comes to meeting the National Credit Union Association requirements for investing money to fund…
Achieve goals the SMART way
Raise your hand if you’ve ever set a goal and didn’t quite achieve it. Many methods exist for goal setting. You might even be familiar with the most common approach—the…
Police investigate stabbing of Navy Federal employee
Virginia Beach police are investigating a stabbing that injured a Navy Federal Credit Union employee Friday. Shontrina Fountain, 39, of Virginia Beach, walked into Navy FCU’s Providence Road branch after…
Keep your eye on the ball – the fundamentals still drive the outlook in auto lending
There are two important factors driving our current auto sales and lending environment. First, we are at the end of a seven-year run of year-over-year growth, the first time that…
Seven reasons not to hire a digital marketing agency
Hiring a digital marketing agency isn’t for everyone. Working with an agency is a relationship, and just like when it comes to romance, it isn’t always the right time to…
What Starbucks got right with opening a deaf-friendly store
Starbucks announced this week it will be opening its first U.S. “signing store,” a store designed to uniquely serve the hearing impaired. The coffee giant has long been known for…
Back to school! S.2155 amendments to private student loans
Greetings Compliance Friends! School is back in full swing up here in the nation’s capital, and unfortunately so is morning rush hour. While the NAFCU compliance team can’t do much…
Helping Hispanic students pursue STEM careers
According to the U.S. Department of Commerce, employment opportunities in science, technology, engineering and math (STEM) are booming, with 24.4 percent growth over the last decade. Yet, not enough students…
Compliance: NCUA answers S. 2155 frequently asked questions
NCUA’s latest issue of The NCUA Report contains a list of frequently asked questions regarding the impact of the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155). President…
This week: NAFCU monitoring Senate action on nominees, FASB meeting for CECL details
The Senate remains in Washington again this week as the House wraps up its final week of August recess. Senators are expected to vote on a number of nominations, including…
Why financial management isn’t just for your finance department
You’ve probably heard the words “financial management” thrown around at your credit union. You may even have some familiarity with the subject. Financial management isn’t an easy skill to master,…
Branch staff take center stage amid transformations
For many financial institutions, the teller line is no longer a line and a teller is no longer a teller. Technology, consumer preferences, and design changes have altered the way…
Big percentage of this portfolio going away?
What are credit unions going to do if they lose 40% of their auto lending portfolio? It’s a difficult question to answer, and unfathomable to many. But is also a…
Finally! The annual privacy notice exception goes final
If a comet or other projectile were to destroy the planet Saturn, it would take 767 days for gravity to pull its remains into the sun. Coincidentally, that is also…
Hurricane Preparedness: Is your credit union ready?
Many threats face credit unions, but the forces of nature represent a growing yearly risk. How can you prepare for a hurricane? And how can you test your plans to…
These women lead us in thought and practice
By today's standards, the right to vote and own property seems basic. But, until August 26, 1920 -- less than 100 years ago -- it wasn't for American women. According…
Are you fulfilling your teams’ No. 1 need?
Most of our organizations are made up of teams. And we need these teams to perform as just that – a team. However, conflicting personalities, unclear communication and just plain…
4 new branches. 4 more on the way.
Rogue Credit Union($1.5B, Medford, OR) is building out a branch network that gives members what they want now while making way for new ways of doing business. In the past…
CUNA corrects false banker attack in Wall Street Journal
CUNA and credit unions responded to the latest banker attack in the Wall Street JournalThursday, with CUNA President/CEO Jim Nussle leading the response letters to the editor. Nussle responded to…
567K payment cards possibly exposed in restaurant data breach
Information from about 567,000 payment cards may have been exposed in a data breach at the Cheddar's Scratch Kitchen restaurant chain between Nov. 3, 2017, and Jan. 2. As more…
Putting people first
Check out the latest news reports from Wall Street and the focus is almost always on profits and losses. How much is the market up or down? Which corporation made…