PALM DESERT, Calif.–Credit unions may frequently talk innovation, but they are by design not intended to change much. And yet CUs have still drawn more than 100-million people as members in the U.S. For one person who bills himself as a futurist and hacker–the challenge for CUs now lies in understanding what will be “compelling” to consumers moving forward.
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HARRISBURG, Penn.—The $4.5-billion Pennsylvania State Employees CU believes the time has come for the “network credit union model” in the United States.
DES MOINES, Iowa—It’s time credit unions look at debit as if it were a line of business that’s not making any money.
ALEXANDRIA, Va.–During an Open Forum hosted by NCUA’s board and senior management, questions were posed regarding RBC calculations, the exam cycle, and changes to the 5300, plus more.
ATLANTA–The Franken-credit union. The “ghosts among us.” Frighteningly empty lobbies. In keeping with Halloween, CUToday.info asked the credit union community for some of the most ghoulish things they have seen. Here’s are some tales from the Credit Union Crypt in the second of a two-part series.
SPOOKSDALE, Ariz.–Frightening member service. Scary internal practices. Vampire procedures that suck the life out of a credit union.
RANCHO CUCAMONGA, Calif.—With all the attention now being paid to EMV, experts are advising CUs to avoid focusing too much on chip cards at the expense of the overall security strategy.
HAUPPAUGE, N.Y.—Credit unions can expect auto lending to remain strong in 2016 due to several factors—one being that the CFPB is cracking down on lenders allowing dealers to significantly mark up the rate.
GONZALES, La.—The oldest member of Shell Geismar FCU’s management team is 34, and the CEO is one of the youngest in the group.
BROOKFIELD, Wis.—It’s time to reduce “operational friction” between the credit union and its members, and also do a much better job of explaining the CU difference if credit unions are to compete with non-traditional lenders entering the financial services space.