Financial institutions spend thousands to tens of thousands of dollars every year on getting new consumers (an average acquisition cost of $200 per new consumer). However, in recent years, consumer habits have changed for a [...]
Capturing a member’s share of wallet has always been a challenge for financial institutions, including credit unions. Given today’s economy, credit unions are working even harder at gaining new members and retaining the [...]
The credit union system is fantastic for its peer networking groups and sharing of knowledge and best practices. While the point of these is to share challenges and ideas for creative solutions and innovation, they [...]
Jim Woodrum believes that credit unions have “Hotmail directors in a WannaCry world.” In case you’re not familiar with these technologies, let’s break it down. Hotmail was a web-based email service launched in [...]
Now’s the time to prepare for managing increased loan workouts and loan modifications. Loan performance since the pandemic has remained strong across many U.S. financial institutions in recent quarters, but credit unions and [...]
Most managers don’t receive any formal training before being promoted into a leadership role. That was certainly the case for me. My first official leadership position was a supervisor for the IT help desk [...]
Like you, I strive to use LinkedIn effectively. Unlike you, I know a LinkedIn expert who has shown me how to do this. Now she’ll show you. Beth Granger helps people find more prospects [...]
It’s always a good idea for leaders to get as much data as possible before making key decisions. Good information drives out fear and helps leaders understand the likely outcomes of various choices. Take [...]
For years, corporate wellness programs focused on the bottom line of reducing healthcare expenses: health screenings, exercise programs and programs that targeted dangerous behaviors like smoking and drinking. That focus paid off. Traditional wellness programs [...]
I’ve been thinking about diversity, equity and inclusion—and believing in it passionately—since before DEI came to the forefront of conversations in business. One of the reasons I love working in the credit [...]
When your credit union has 12 branches spread across New Mexico—a state that is culturally and ethnically diverse—and another in California serving a completely different population, diversity, equity and inclusion must become the [...]
The shift to digital banking is transforming the way credit unions interact with members from branch to call center. In the past, members who had problems brought them to the branch where they were solved [...]
It should not surprise you that I love reading. An editor who loves to read? Hardly a shock, right? As I shared in the February issue of CU Management, I read a lot and each [...]
A lot can happen in 12 months. Interest rates are rising. Recession worries are mounting. But there is one concern that’s on the decline from executives at financial institutions across the country—challenger banks. [...]
“Why are you a credit union director?” Ancin Cooley, principal of Synergy Credit Union Consulting Inc., began his breakout session, “Amazing Boards Ask Great Questions” with this seemingly simple query at Directors Conference in December. [...]
