LAS VEGAS–It’s a given that credit unions must partner with fintechs on not just the offerings that keep them relevant and competitive, but also on the “cool things.” Yet as a discussion here made clear, the CU/fintech partnerships are often a landscape in which both parties misunderstand each other, where smaller CUs reportedly get “shafted” on contracts, where regulators are seeking to balance oversight without being restrictive, among other complications.
LAS VEGAS–Executives from some of the largest banks in the country have offered credit unions insights into their thinking around what’s ahead in fintech, how they choose to invest and where, what’s really the hardest part of implementation (it’s not the technology), and why fintech is “on sale right now.”
TACOMA, Wash.—All of bumps in the road the pandemic laid in front of credit unions has altered the strategic planning process, says Mike Beall, who emphasized responding isn’t just about changing the view toward the future itself but also how the CU approaches planning itself.
WASHINGTON—A great deal of focus has been placed on diversity, equity and inclusion in recent years, but how much attention has been paid to making DEI part of the CU’s business model? One credit union that has made inclusivity a big part of its business plan—and which has just been recognized nationally for its accomplishments--says the focus not only helps people, but the bottom line, as well.
WASHINGTON–After a record $59 billion in indirect auto loans and $78 billion in total lending on its platforms during 2022, Origence isn't just working to respond to what is a changed market in 2023, the company is urging CUs to react appropriately, as well.
DALLAS—Many credit unions have mispriced their auto loans by 150 to 200 basis points, according to ALM First, which is predicting those decisions will be coming back to haunt their bottom lines in 2023 due to rising deposit rates.
WASHINGTON—The failure of two large banks has not just the federal government, regulators and the banks’ customers scrambling to respond, but also the nation’s credit unions, regulator and trade associations, which are offering a number of viewpoints, including whether any similar systemic risks exist within CUs.
NEW YORK—When it comes to those “moments of truth”—those times when new and old member relationships are either growing or broken—are credit unions doing a good job?
WASHINGTON–In a Q&A with CUToday.info, NCUA Chairman Todd Harper has shared his thoughts and responses around questions related to whether CUs are underpricing loans, the future of smaller CUs, what’s ahead for overdrafts, and more.
MADISON, Wis.–Three case studies around a trio of small credit unions that have been identified as “thriving” are being shared, offering insights into their unique operations and why they have prospered, including generating the kinds of ROAs that would be the envy of much larger credit unions in some cases.
