WASHINGTON–With voting now officially underway on the proposed merger between CUNA and NAFCU, the respective chairs of the two trade groups have shared with CUToday.info what they have been hearing, where there are tough issues that have yet to be decided, and why they believe the combination is in credit unions’ best interests.
DUBLIN, Ohio—The war for talent is still heated but it could be cooling, according to new data that show the dramatic increases in credit union pay—especially at the upper levels—are beginning to soften.
BIRMINGHAM, Ala.—As some CUs experience a decline in auto lending volume as rates rise, can asset protection product sales make up for some of the revenue loss?
SCOTTSDALE, Ariz.—Any credit union that views youth banking as a loss-leader is missing where the real loss is occurring—future members, according to one expert who stresses it’s time for CUs to focus on the “family digital wallet.”
BRIGHTON, Mich.—Helping tiny businesses to grow and expand is one of the best ways to support the community, according to one credit union that has found a unique way to do that.
PETERBOROUGH, N.H.—The Federal Reserve’s ongoing rate hikes could ultimately push credit unions out of the credit card rewards battle, resulting in many of their cardholding members taking their balances and business to other issuers, a new analysis suggests.
WILLIAMSPORT, Penn.—Just as what were once staples of the retail financial relationship have faded away or are fading—first, the passbook and now the checkbook—so, too, will certificates of deposit become a thing of the past, predicts one credit union that’s doing away with CDs for good.
NEW YORK—One $73-million credit union that consistently boasts ROAA above 3% and eye-opening membership growth is emphasizing what a handful of other successful undersized cooperatives have also told CUToday.info—an organization needs a niche to succeed.
ATLANTA—Expect new and used car prices to level off this year and then fall in 2024, a situation that’s good and bad news for credit unions, according to Equifax.
MILWAUKEE—Credit unions with a clear vision of their future are doing a better—and more cost-effective—job of constructing operations centers today, according to one expert, who outlined the right and wrong ways to build these in-demand facilities.
