Sometimes the effort credit unions take to protect themselves creates the opposite effect — the effort itself harms the organization’s best interests and the interests of those you dedicate yourselves to helping. A recent study [...]
The founding purpose of credit unions has been to serve their members. When society and consumers’ needs evolve based on the advanced tools and technologies they utilize every day, so must the credit union adapt [...]
All four federal regulatory agencies, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Federal Reserve, and the Federal Deposit Insurance Corporation, have once again released separate joint statements encouraging [...]
The last year and a half has proven we realized both the inevitability and acceptance that has come with the digitization of the economy in the United States during and after COVID. Since March of [...]
I began my credit union career over 40 years ago as a teller. I came into the industry at the dawn of the share draft account. I saw the quick adoption and religious-like devotion to [...]
For most consumers in the United States, a good credit score represents a pathway to increased wealth and access to a “better life” — the American Dream. As we are beginning to discover, however, not all [...]
There has been a great fallacy permeating popular media over the last few years about the credit union movement and its growth through the acquisition of banks. Bank associations have pushed heavily on an inaccuracy ([...]
It has never been said the journey through a given member’s financial life is guaranteed to be a walk in the park. There’s no doubt your days may occasionally include member stories of [...]
The effects of the COVID-19 pandemic, as it’s been widely recognized in the last year, accelerated mobile banking innovation in the financial services industry. While it’s also true that the technology for mobile [...]
Here is a statistic to perk your eyes and ears: Underserved consumers spent $189 billion on fees and interest across five financial product categories in 2018 that included short-term credit. It shouldn’t necessarily come [...]
I just read an article about UW Credit Union in Madison, WI reducing their NSF fee by more than 80% to just $5 per occurrence. I think that’s less than we charged in the ‘[...]
“CDFIs, at the heart of it, are community lenders. If you think about where banks step out, CDFIs step in. They deliver responsible capital where it is needed in a very place-based, community-first approach. Most [...]
Millions of consumers in the United States are learning to re-adjust to this near post-COVID period. Many are also re-thinking their approach to newfound financial challenges, how to overcome them, and how to take proper [...]
Following a year like no other in recent memory, America deserves a Fourth of July filled with jubilation for the ideals and vision this country represents. The day prior, however, offers cooperatives worldwide, credit union [...]
I started my career in credit unions as a teller in 1980. I used an employment agency to get the job and I had to pay the fee, which was a month’s salary spread [...]
