CUInsight Weekly Minute with Robbie Young – October 14, 2022
Our favorites from the week in sixty seconds.
Welcome to the CUInsight Minute, sixty seconds from our Associate Publisher Robbie Young with our favorite reads from the week
Mentioned:
Enter the danger zone: How to face your worst problems
by MARK ARNOLD, ON THE MARK STRATEGIES
When I think of the “danger zone,” my brain automatically leaps to Top Gun. Besides riding a cool motorcycle and playing beach volleyball, Tom Cruise’s Maverick literally enters dangerous life-or-death scenarios. And while you’re not flying a plane or being shot at, your credit union might have its very own danger zone.
What do I mean?
I mean your credit union could have an unsolvable problem no one is willing to touch. A problem everyone knows about but nobody talks about. An elephant in the room.[Read more]
What CUs should consider when planning a digital currency strategy
by PAULIN BYUSA, AVENIR
As crypto adoption increased, many credit unions have experienced significant outflow of member funds, yet 81% of their members want to buy digital assets from their primary financial institution, which provides a great opportunity for credit unions.
The reality is, even with the market downturn, enthusiasm for crypto isn’t going away and financial institutions are faced with decisions to make:
- Option 1: Take a hands off approach as there are retail crypto apps their members can use
- Option 2: Proactively offer crypto products in your banking services [Read more]
Importance of DEI in the governance of credit unions
by MICHELLE D. NEARON, PH.D., AACUC
We live in a rapidly changing and evolving world. Technological advances alone have literally taken us both physically and virtually to places that were once considered beyond the realm of everyday existence and possibility. Over the years, credit unions, to remain competitive and viable, have welcomed opportunities to transition and evolve in a dynamic economic playing field. Emerging from the last great recession here in the United States and other parts of the world, the credit union industry had to avail itself of new and innovative ways to effectively serve its existing members, attract new ones, and establish opportunities to continue to grow. Mobile apps, Interactive Teller Machines, person-to-person payment services, mergers, and acquisitions, have changed the face of the industry. With the advent of the internet and social media, regular interactions with the global community have become commonplace bringing more visibility to the more intimate world of credit union banking. [Read more]
