Coronavirus Archives

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 [...]

How to help members after federal unemployment runs out

How to help members after federal unemployment runs out

Federal unemployment assistance during COVID-19 has kept many families (and some say the U.S. economy) afloat throughout the pandemic crisis. While the near-term future of the benefit remains unknown, the extra $600 a week [...]

Opening a credit union account during a pandemic

Opening a credit union account during a pandemic

I moved away from my college town about a year ago, but I was still clinging on to my old credit union account because the thought of transferring my bills, direct deposit, and savings filled [...]

7 ways to still do event marketing in 2020

7 ways to still do event marketing in 2020

This year, we’re all saying adios to traditional event marketing. No more event booths, community festivals or neighborhood fun runs. But that doesn’t mean event marketing cannot or should not happen. Here are [...]

The impact of COVID-19 on the auto lending industry

The impact of COVID-19 on the auto lending industry

One of the greatest things about my job here at SWBC, and as a former lending executive, is that I get to speak with financial institution leaders, more specifically, credit union lending executives, on a [...]

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