LAKEWOOD, Colo.–Credit unions are at a crossroads when it comes to the future of the movement, according to one person, who believes many CUs have become too “bank-like,” one result of which is member perception of their service is sliding.
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TAMPA, Fla.—Just as credit unions are questioning making investments in branches, they also need to be taking a hard at the dollars they spend to upgrade technology infrastructure and the space used to house on-site systems, according to one person.
LAKE FOREST, Ill.—Is inflation having an impact on checking account growth? Apparently, according to a new Moebs $ervices study that shows 36.4 million new consumer checking accounts were opened in 2022—with the majority going to a few major players.
RANCHO-CUCAMONGA, Calif.—Offering a cryptocurrency service can slow, if not stop the outflow of CU deposit dollars to digital dollar platforms, and at the same time the service can also boost use of the cooperative’s mobile solution, according to one person.
CARMEL, Ind.—Credit unions are being advised to move more quickly when it comes to auto repossessions, as the number of vehicles being repo’d is up and the trend isn’t going to improve anytime soon, according to Allied Solutions.
NEW YORK–The types of tools available to credit unions to manage their balance sheet have grown in both number and sophistication, and four people here offered their insights on how they are using those tools during NCUA’s Capital Markets Symposium here.
SAN ANTONIO—Automobile repossessions are not just rising as delinquencies creep higher, a bigger concern is that “skips”—where borrowers stop paying and drive off with the vehicle—are happening within credit unions at an almost record rate, SWBC says.
LAKE FOREST, Ill.—Inflation may have surged in 2022, but the median overdraft price tumbled more than 25%, as financial institutions moved to keep up with other players in the market and also avoid regulatory scrutiny.
DETROIT—The current state of the U.S. banking system, which has become more fragile following the failure of three banks, could benefit from credit unions looking to buy a bank, reports the pioneer of these deals.
TAMPA, Fla.–Discussions around DEI often fall into the trap of becoming all about platitudes, high-minded ideals and statements that seem aimed at getting applause. But they can also be touching, insightful, emotional and even funny, as one panel discussion here made clear.