As head of a member‐owned financial institution, I know far too much of our and our members’ money has been lost dealing with data breaches at retailers, other merchants, and services providers across the country.
THE 'tude
A core data processing conversion requires a substantial investment of your credit union’s financial (not to mention human) resources.
How capital is defined for most U.S. natural-person credit unions is unique compared to other financial institutions in the U.S. and globally.
At its Feb. 15, 2018 meeting the NCUA Board took up the issue of who would share in the distribution of excess monies that remained in the Corporate Stabilization Fund (CSF).
When it comes to performing risk assessments, it appears the credit union industry is doing them for just about every process, product, and service our coops offer including third party providers of home banking, vendor relationships, BSA, ACH, cybersecurity, IT infrastructure, disaster recovery and business resumption, core providers, etc.
When I speak with credit union peers who are originating mortgages and selling them into the secondary market, I often hear they are only selling through brokers’ channels or directly to the GSEs other than the Federal Home Loan Banks.
Within the last two years, a handful of companies have emerged in the employee benefits space, helping large organizations develop and administer student loan repayment assistance plans for their employees.
I keep reading articles about the improved outlook consumers have.
n addition to the obvious advantages of outsourcing certain credit union functions – cost savings, freeing up staff, enhancing member service – you can add one more.
Running a CUSO with multiple data centers, I sometimes feel like a connoisseur of security products.