The purpose of the SEG Analyzer Tool is to allow federal multiple common bond credit unions to benchmark their SEG addition activity against their peers. It also visualizes growth measures from call report data. How [...]
The National Credit Union Administration (NCUA) last week announced it would open a streamlined CDFI Application Qualifying Round beginning on September 12 and running just over a month through October 15. What is a CDFI [...]
What is a SEG? Though commonly referred to as Select Employee Groups or SEGs, these groups can share any common bond of association or occupation, not just a single employer. Common types of SEGs include: [...]
Starting this month, the NCUA (National Credit Union Administration) will begin implementing a new, modernized system focusing specifically on the online application process for Field of Membership expansion. The news was announced via a letter [...]
Our recent article, Analyzing Credit Unions' 2020 SEG Additions provided insight into the types of Select Employee Groups (SEGs) federal credit unions have added recently. Now, let's talk about the credit unions that were able [...]
Jeremy Garza has been the CEO at Gulf Coast Federal Credit Union for eight years; he’s worked at the credit union for a total of 18 years. Now, the credit union is making history [...]
Our recent article, Analyzing Credit Unions' 2019 SEG Additions provided insight into the types of select employee groups (SEGs) federal credit unions are adding. Now, let's talk about the credit unions that are adding SEGs. [...]
What is a SEG? Though commonly referred to as Select Employee Groups or SEGs, these groups can share any common bond of association or occupation, not just a single employer. Common types of SEGs include: [...]
2020 is no doubt a year most would prefer to soon forget, yet amid so much darkness bright spots could be found within the credit union industry as many institutions found ways to strategically expand [...]
Congress passed the Federal Credit Union Act in 1934. Since then, credit unions have consistently provided their members better pricing and service than banks. So why is credit union market share so small? The answer [...]
The current business development market has changed over the last few months. It may feel impossible at times to reach new potential SEGs and their employees. Below are a few tips to overcome the current [...]
If your credit union is actively, or wants to be, adding new select groups, you should buy an ownership interests in any shared branching or ATM networks you participate in that will allow you to. [...]
In most states, credit unions have a choice of operating with a state or federal charter. There are a number of considerations in determining which charter is more advantageous. This is an overview of some [...]
Low-income credit unions (LICU) have benefits that help mitigate the impact of the COVID-19 recession while helping to serve members who need support the most. If you are not aware of where your credit union [...]
I am going to tell you a secret I recently discovered about credit union chartering that (almost) no one else knows. Federal SEG based credit unions can serve larger communities than practically any other charter, [...]
