CUInsight Minute with Jen McFadden – April 14, 2023
Our favorites from the week in sixty seconds.
Welcome to the CUInsight Minute, sixty seconds from our Director of Marketing, Jen McFadden with our favorite reads from the week.
Mentioned:
Financial and cybersecurity literacy: The pillars for credit unions
by BRITTANY DEMENDI, ADLUMIN
Financial literacy is all about education, awareness, and preparation. When your credit union is no stranger to fraud and other forms of cybercrime, it is safe to assume that neither are your customers. The Federal Trade Commission released its annual report showing that in 2022, 2.4 million fraud reports resulted in an $8.8 billion reported loss. Scammers contacting consumers via phone or social media led to the most significant loss. Reported fraud losses increased more than 30 percent from 2021 to 2022. (Read more)
Uphill both ways: The battle against delinquencies and collections
by ANNE HOLTZMAN, ALLIED SOLUTIONS
As interest rates continue to rise, credit unions are likely to experience an ongoing rise in delinquencies and collections. In this economy, this can be a significant challenge for credit unions, as delinquencies and collections impact your bottom line and ability to continue lending to members. (Read more)
Why is data transformation so hard?
by RICK FOWLER, CRMNEXT
84% of data transformation efforts fail. But if you know what you’re looking for, the reasons are obvious. Remember dial-up modems? They were kinda magic, in the sense that you could simply dial up another modem (with some coordination beforehand), and in just a few minutes, your modem was linked to the receiving modem, and you could send an actual file—across miles and miles. And it only took four or five minutes! It was revolutionary—replacing the need to overnight a floppy disk with your information on it. Hello Modern Age! (Read more)
Note: CUInsight is hosting a free webinar presented by CRMNEXT on Monday, April 24th titled, “All Wrong: 84% Of Data Transformations Fail. How to do Data Transformation Right”. We hope you’ll join us! Register here.
