Many are concerned that the next few years could be financially tough for credit unions, even if we avoid recession. Tight liquidity, escalating cost of funds, inflation-driven operating expense increases and accelerating loan losses are [...]
Credit unions are known for their personalized financial services, not just for profit. But in recent years, they’re facing the increasing cost of compliance, specifically amid shrinking budgets. With annual regulatory changes and state [...]
Recent bank failures in the United States have raised concerns with individuals and businesses alike. On March 10, 2023, Silicon Valley Bank failed after a bank run, marking it the third-largest bank failure in United [...]
Uncertainty and volatility seem to be the only consistent elements in the post-COVID economy. So, how do you adequately measure the financial impact today’s economic landscape will have on your business? By utilizing a [...]
CU Management Editor’s Note: This is the first of a three-part series to help prioritize the burning issues that face credit union leaders, offering actionable tips to help grow wealth management departments. Among the [...]
In an interview last winter, Bill Gates described Elon Musk’s decision-making style as “seat-of-the-pants” rather than based on “an objective set of measures done by a broad group of people.” The most prominent instance [...]
Payment systems are evolving at an exciting pace and in a way that will help shape the future of financial services in the U.S. Businesses and consumers have been looking for faster, more efficient [...]
In the last year, a quote by Warren Buffett gained significant visibility in the field of business strategy. The Oracle of Omaha reportedly said, “The difference between successful people and really successful people is that [...]
Financial institutions across the nation are bearing the brunt of an unstable economy—and liquidity challenges have taken center stage in the minds of industry leaders. With high interest rates and fear of a looming [...]
Application programming interfaces have been around for more than two decades, but their importance is only growing, at least according to 88% of IT banking executives in a report done by Mckinsey. That’s not [...]
Credit union executives must activate the significance of “relevance” as critical to the sustainability of the cooperative, not-for-profit business model. The question we must ask is “How are you incorporating it into strategy?” Increasing your [...]
CUES is a pioneer in offering flexible and remote work options—we’ve had “telecommuters” since the late 1990s. Our first telecommuter—as remote and hybrid workers were called back then—asked for and received [...]
It was a sunny spring afternoon in 2022 when Jed Meyer, president/CEO of $327 million St. Cloud Financial Credit Union, St. Cloud, Minnesota, first saw a post on LinkedIn from Montana’s Credit Unions’ [...]
For Spectra Credit Union, diversity, equity, and inclusion is not a new initiative. In fact, Spectra CU’s team comprises 60% of people of color and 65% of women. With a diverse senior management team, [...]
Financial institutions are aggressively competing to attract deposits and savings accounts. Liquidity risk for credit unions, in particular, has been identified by the National Credit Union Administration as one of the biggest challenges in 2023. [...]
