LAKE FOREST, Ill.—As credit unions scan the market to assess what bank competitors are charging for overdrafts, they might be surprised at what they find this year, one economist is asserting.
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LAHAINA, Maui–Crypto and blockchain are going to be game-changers, but in the short-term it’s not going to be in the way many credit unions believe, according to one person.
LATHRUP VILLAGE, Mich.—As Michigan First CU CEO Michael Poulos steps into retirement, he is most proud of the work the organization has done to change the financial lives of so many members—but that never could have happened until credit unions first changed his own life.
LAHAINA, Maui, Hawaii–Credit union board members who haven’t bought crypto, taken offerings like Marcus for a spin, and that “punch their CEOs in the face” for tech investments that don’t meet expectations need to make some big changes, CU volunteers gathered here were told.
MADISON, Wis.–The stigma is gone, the benefit is popular, and the hybrid work environment is here to stay—and so are the challenges around how credit unions can develop the most ideal work arrangements, how to address “frictions” around perceptions of work, how to maintain and build productivity, and how to rework physical spaces.
LAKE FOREST, Ill.—What is driving checking growth at some of the biggest banks and credit unions in the country? Once again new data show it’s the lowering of overdraft charges.
ST. PETERSBURG, Fla.—Credit unions that are ignoring past practices and “blowing up” their business model are the ones that will succeed in the future, says Brian Scott.
ALCOA, Tenn.—Alcoa Tenn CU says it doesn’t need to offer indirect lending because its consumer loan refinance program—which gives members up to $500 cash back and a low rate—is better approach.
KYIV, Ukraine–Indicative of what is going on in his country, one person offering an update on credit unions and the people in Ukraine was only able to do so after scrambling to find electricity and an Internet connection. But as he made clear, those are only minor challenges and the country and its credit unions are resolved to keep moving forward despite the daily attacks from Russia to keep helping those who never expected the kind of help they are getting from CUs.
IRVINE, Calif.—It’s been well-documented excessive “friction points” have been hurting perceptions of credit union service, and now there is another growing pain point that needs to be addressed—the funding of loans, according to Origence.