Credit unions strive to become their members’ primary financial institution. The theory is that being the PFI increases the likelihood of a continual and robustly valuable relationship. We want to be the go-to source of [...]
Credit unions serve as financial intermediaries to members who need money they don’t yet have (borrowers) as well as those who have money they don’t yet need (savers). As such, they are always [...]
Several metrics superficially indicate that deposit initiatives might no longer “move the needle” for financial institutions. The recent data presented below from www.fdic.gov is striking. We have recently experienced the greatest deposit growth [...]
An odd contradiction may be impacting your institution’s ability to raise deposits. Financial institutions routinely disclose substantial early withdrawal fees on deposit accounts — fees that, historically, they never really expect to collect. Yet in [...]
In the past, photography relied on film and printed photographs. Today, it relies on electrons to capture and distribute images to our family members and friends. The tools we once associated with photography became obsolete [...]
Time deposit buyers always want the same thing Betty wanted when she bought her last time deposit–more yield. When rates were lower than today, Betty researched yield and maturity combinations from a few sources [...]
Clearly and consistently navigating the route to optimized future balance sheets and income statements is the responsibility of a credit union’s asset/liability committee. ALCO meetings can be some of the most dynamic and [...]
When the marketplace anticipates higher interest rates, it can become increasingly difficult to get members to accept longer-term deposit accounts. At the exact same time, credit unions may be looking for ways to encourage more [...]
As credit union executives look to fund expanding loan portfolios, most turn to a tried-and-true method: promoting a share certificate “special.” Recognizing that price impacts volume, executives have historically ratcheted up the price on “CDs” [...]
