We live in a world of rapid change and evolution. We regularly identify how we can adapt and adjust to changes—from new technology to new member needs. However, if asked to list why we [...]
The impact of the COVID-19 pandemic on credit union income statements won’t be clear for many months or even years, but it’s not too soon to consider some long-term recovery strategies. One of [...]
Two watch phrases guide compliance officers as their credit unions navigate a steady stream of regulatory guidance and changes in serving members during the COVID-19 pandemic: Stay tuned. Document everything. Federal and state agencies are [...]
Sitting down at my computer at the end of another long day, I find comfort and stress relief thinking about what our credit union has achieved in the last six weeks. In early to mid-March, [...]
Even as branch locations close and all but a few credit union employees migrate to a home office or other remote workplace, the industry continues to help people through one of the most chaotic times [...]
For any business, the threat of industry disruption can loom large on the minds of those in charge. What’s the next big thing? Will we be ready? How will we adapt? What does success [...]
A recent William Mills/Harris Poll asked 1,043 U.S. adults, “During social distancing, how much more or less likely are you to leverage digital banking and digital payments?” Not surprisingly, most people said [...]
The National Credit Union Administration has given federal credit unions increased flexibility to hold virtual annual meetings or delay their annual meetings because of the COVID-19 pandemic. On March 20, NCUA issued a letter to [...]
Worries of an economic recession loom as the COVID-19 pandemic continues to sweep across the globe. While the everyday routines and the future of your credit union may be uncertain, it is possible to prepare [...]
If you’re still not sure how the Setting Every Community Up for Retirement Enhancement Act of 2019 has already changed your credit union’s retirement plans, you’re forgiven. The law passed rather unexpectedly [...]
As everyone reading this is well aware, credit unions are special. No other financial institution exists with the mission of serving the well-being of their customers above all else, like credit unions do for their [...]
Here’s a scenario that may become more common as credit unions deploy remote workers as part of their COVID-19 pandemic response: A scammer looks up CU employees on LinkedIn and then calls the IT [...]
You, your employees and members have been bombarded with traditional and social media reports, speculation, facts, conjecture and outright mistruths for weeks now and the barrage is likely to continue. Amidst all the havoc, there [...]
Governing changes during crisis. Boards need to stay out of operational decision-making, yet they need to be aware of what is happening in the credit union. Awareness—even of bad news—is extremely important. As [...]
For 15-year-old Lawndale High School student Deven A., growing up without a father or male figure in the home means dealing with insecurities and less guidance. “You have to learn to make your own path,” [...]
