The new year is upon us and, as ever, it presents both challenges and opportunities for credit unions. Chief among these is the process of annual reporting, which, although at times a daunting task, should [...]
The American Bankers Association (ABA) was right: credit unions haven’t provided sufficient evidence to demonstrate their success in meeting the needs of their members or their communities. However, the validity of that assertion extends [...]
Success at credit unions is often defined as achieving 10% asset growth and 1% return on assets, while maintaining an 8% net worth. But I firmly believe those figures do not truly define success. All [...]
What does it mean to be a successful credit union? Having worked in the industry for close to fifteen years I’ve found that, while individual credit unions may measure and track several key performance [...]
To best serve their members, credit unions must offer a broad range of well-priced services, grow along with their communities, and remain financially sustainable. For many institutions, accomplishing all these goals can seem a daunting [...]
Thank you for tuning in to episode 25 of The CUInsight Network, with your host, Lauren Culp, Publisher & CEO of CUInsight.com. In The CUInsight Network, we take a deeper dive with the thought [...]
In the 21st century, it’s no longer sufficient to be known simply as a financial institution. Credit unions and other financial institutions must actively demonstrate how they give back to their local communities and [...]
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 [...]
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 U.S. Supreme Court’s decision not to hear American Bankers Association v. National Credit Union Administration is a huge win for credit unions. It not only means that credit unions will be able [...]
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 [...]
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, [...]
Credit unions have historically seen growth during declining economic times, such as the Great Recession. While everything going on in today's world due to COVID-19 may seem frightening, there is also a significant opportunity for [...]
