Top 10 CUInsight lending and compliance posts in 2022
Happy Holidays from CUInsight! It’s been another great year and it’s time again to take a look at the year’s best. Here are your top ten lending and compliance posts from 2022!
The Credit Card Competition Act pours salt on a wounded economy
by CAROLINE WILLARD, CORNERSTONE LEAGUE
It was the Senate bill heard round the credit union movement. On Thursday, July 28, Sens. Roger Marshall (R-Kan.) and Dick Durbin (D-Ill.) introduced legislation that would create new mandates on credit card issuers, affecting financial institutions… (read more)
Don’t let them fool you: Interchange legislation hurts CUs and their members
by B. DAN BERGER, NAFCU
Last month, Senators Dick Durbin, D-Ill., and Roger Marshall, R-Kansas, introduced legislation to expand the “Durbin Amendment,” which was enacted in 2010 as part of the Dodd-Frank Act. This NAFCU-opposed legislation, the Credit Card Competition Act… (read more)
Why you should fire 20% of your credit union’s members
by BO MCDONALD, YOUR MARKETING CO
I keenly remember an exercise Lois Kitsch shared at a conference several years ago that is still etched in my mind: “If you think that mission is the most important thing at your credit union, go to this side of the room… if you think profit is the most important thing… (read more)
The two main drivers of credit union asset growth: High interest rates on deposits and marketing expenses
by LUIS G. DOPICO, CUCOLLABORATE
Credit unions play a key and growing role in the financial lives of American consumers. For over one hundred years in fact, as Figure 1 below shows, credit unions have steadily gained market share in the US… (read more)
Inflation and how it impacts your credit union
by DAN PRICE, 2020 ANALYTICS
Things have been good economically for so long it’s hard to imagine a time when they weren’t. Even in the face of a devastating global pandemic, asset prices performed well and delinquencies and defaults have trended in the right… (read more)
Credit union net worth – enough already!
by RICH NAVE, AUX
Have we lost our way? Have we forgotten who Net Worth belongs to? Have we forgotten about the uniqueness of the cooperative model? There is much discussion in the credit union industry about the very questionable reasons for mergers and… (read more)
How to save your small credit union (without merging)
by SAM BROWNELL, CUCOLLABORATE
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… (read more)
Small credit union lenders – kicking ass and taking names
by SCOTT BUTTERFIELD, YOUR CREDIT UNION PARTNER
According to CUNA Mutual’s Credit Union Trends Report – December 2021, credit union consumer loan growth peaked at 10.5 percent in 2016. It has decreased annually since then, reaching 5.9 percent in 2021. Drilling down a bit further… (read more)
Rising delinquencies among younger generations require modern collections strategies
by GLENN WILLIAMS, SWBC
We live in a time in which more generations are working side-by-side in the workplace than at any point in history. From Gen X to Baby Boomers, we’ve all experienced working with individuals from different generations, and that’s a good… (read more)
Did you know chunky people buy CARS?!
by NANCI WILSON, UNIVERSITY FEDERAL CREDIT UNION
I attended a conference where we were encouraged to speak about marketing outside of the box. We were to come up with ideas outside of the norm and pitch them to the audience. As I sat with my table-mates, thoughts were being tossed. Most of which were just safe. We do that a lot… (read more)
