Coronavirus Archives

2021 crisis spotting

2021 crisis spotting

Confession ... our firm, which specializes in crisis response for credit unions, didn't see the crises of 2020 coming. Who did, really? While we eerily predicted in January that 2020 would be the "Year of the [...]

Building a digital strategy for post-COVID debt recovery

Building a digital strategy for post-COVID debt recovery

As the COVID-19 pandemic continues, some credit union relief and government support programs are due to expire – and many Americans are still struggling financially. While these short-term programs have helped, the drastic disruptions in employment [...]

PPP report flags potential fraud, abuse

PPP report flags potential fraud, abuse

Following Tuesday's hearing with Treasury Secretary Steven Mnuchin, the House Select Subcommittee on the Coronavirus Pandemic released a preliminary analysis of the paycheck protection program (PPP), which found that "billions of dollars in PPP loans [...]

Lending in this COVID-19 world

Lending in this COVID-19 world

Even amid all the uncertainties with the ongoing course of COVID-19 and the related recession, lending leaders should be seeking out ways to build business and improve the loan experience their credit unions offer. Though [...]

Strategic speed

Strategic speed

When credit union leaders could finally take a step back and consider all the changes made in short order to serve members and protect staff amid the COVID-19 pandemic, they may have surprised even themselves [...]

How are credit unions using excess liquidity?

How are credit unions using excess liquidity?

Share balances at U.S. credit unions have grown at near-record rates since the onset of COVID-19 and the resulting lockdowns. According to second quarter data from Callahan & Associates — representing 99.6% of industry [...]

CFPB report examines early impact of pandemic on consumer credit

CFPB report examines early impact of pandemic on consumer credit

The Consumer Financial Protection Bureau (CFPB) issued a report Monday examining the early effects of the COVID-19 pandemic on consumer credit. The report found that consumers have not experienced significant increases in delinquency or other [...]

Should you reopen all of your branches?

Should you reopen all of your branches?

Whenever banks and credit unions face earnings challenges, the branch network emerges as an obvious target for expense reduction. At typical retail-driven institutions, branch operations account for about two-thirds of total noninterest expenses. In that [...]

Staying sane in crazy times

Staying sane in crazy times

Let’s put things into perspective: only months ago you were living one life, leading an organization, and making decisions on what you felt were basic known premises. Then, the world changed. Virtually overnight, much [...]