Kalamazoo, MICH — Consumers Credit Union is pleased to announce the addition of David Pendley as the new vice president of mortgage lending at the…
Credit Union Business Magazine
Many people think they have the wherewithal to avoid scam traps, but what they may not realize is how scammers take advantage of human psychology…
Reinvestment risk is rearing its ugly head for investment managers everywhere, but the challenges are especially striking for depositories that have a history of investing…
It was 2010. America was just coming out of the Great Recession. The credit union outbound sales team I was leading had just doubled its…
Firefly Credit Union and TruStone Financial CU have announced their intent to merge subject to regulatory approval and a member vote. The combined entity will operate under the TruStone…
With more people working remotely, financial institutions are looking to offer more secure and flexible connections to their data and services, which often leads institutions…
Credit unions are unique, because by definition, they are by and for their members. They have always prioritized providing an exceptional service and building personal…
The world is grappling with an issue of enormous scale and I find myself cherishing my family, work family, friends, and amazing clients. Our hearts…
Last month we published the first ten myths of this “Twenty Credit Union Sales Myths Debunked” series. *** I received some great reviews of the…
Never before have credit unions confronted a more challenging competitive landscape. Digital lending and online account origination are no longer things credit unions must work…
Prior to the influx of fintechs, credit unions were the friendly face of finance, a distinctly different entity than the faceless giants of Wall Street.…
AUSTIN, TX (April 8, 2020)—Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, today announced the launch of its end-to-end…
In an increasingly hybrid cloud environment, Data Mesh technology offers a secure, holistic approach to data connectivity across fintech applications According to a recent survey,…
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Keeping Up with the Times: the Importance of Modernizing Member Service in a Digital-First World
Technology advances have significantly impacted consumers’ expectations for every service provider they interact with, including their financial institutions. Uber and Lyft can immediately populate frequent…
Acumatica, the world’s fastest-growing cloud enterprise resource planning (ERP) company, recently announced a strategic relationship with BDO USA, one of the nation’s leading accounting and advisory firms. The relationship was specifically…
Suddenly, every day seems to provide less certainty of the future. Our communities, our country and our world are drawn together in purpose and sacrifice…
Choosing Survival or Growth during the Current Market Disruption: Management Lessons Learned from 3 Previous Crises The Coronavirus pandemic and its economic impact threatens credit…
Digitization and mobile banking continue to expand and alter the traditional branch-based model for credit unions. AI-powered BOTs are transforming online customer interactions for all…
A growing number of technology trends—from the massive influence of the cloud and mobile devices, to the impact of big data—are pressuring all types of…
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20 CU Sales Myths Debunked {Part 1}.
As I travel the country to provide training to salespeople and their leaders, I encounter many myths about selling. While some are quite funny and…
Just a few years ago, financial institutions and fintechs seemed to be squarely positioned on a collision course, with institutions working to protect their customer…
JW Michaels makes comparing executive salaries of the financial service industry a snap with release of compensation data report data NEW YORK, March 9, 2020…
Deeply rooted in the credit union philosophy of “people helping people,” SchoolsFirst FCU believes it is important to give back to communities served by our…
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3 Core Liquidity Principles
Recent events in the repo market serve as a reminder for depository institutions to continue to heed essential liquidity procedures, considering that the Federal Reserve…
Over the last few years, there has been a rise in the number of credit unions acquiring community banks. Several additional complexities exist when a…
E-mail is an incredibly popular way of communicating with other people, probably because it’s so fast and simple. For credit unions, e-mail represents a great…
Banking, ordering a pizza, calling a taxi—these mundane tasks, and countless others, used to require a telephone call, if not an in-person errand. Now, they…
While IT professionals at credit unions generally have physical control over staying compliant – from guaranteeing the server is locked to having access to the…
As we enter a new decade, credit union executives around the world are reflecting on the past ten years in hope of identifying trends that…
As interest in U.S. faster payments systems continues to grow, so too do the questions and concerns many companies have regarding not just its impact…
Alex Mendes recently joined SPIRE Credit Union, Falcon Heights, MN, as its new Senior Vice President, Chief Financial and Technology Officer (CFO). He comes with…
What are credit unions known for? This is a great question to ask yourself and others whether you are a credit union leader, an employee,…
According to Accenture, we are entering the Experience Era, punctuated by the delivery of more personalized and adaptive customer experiences powered by human-machine collaboration. This…
Many from the Southeast have heard of the largest employee-owned grocery chain in the country; after all, it is one of the most sought-after employers…
Simply put, PFCU’s primary focus is on our members, because we believe there’s no better investment than community. We have branches throughout Philadelphia and Columbia…
Financial institutions used to compete on product. Today we compete on customer experience, but what began as a digital arms race to deploy seamless online…
Teachers Federal Credit Union (TFCU), with $7.5 billion in assets and more than 335,000 members, announced today that Denise McGlone joins the executive team as its…
Elevations Credit Union joined elite companies across the globe after being ranked in Training magazine’s Training Top 125 in November. The Training Top 125 recognizes…
As the digital age continues apace, the need for brands to develop strong connections with consumers is more important than ever. One of the most…
No matter the movement in rate forecasts and growth expectations, liquidity remains critical for healthy institutions. In order to ensure that adequate liquidity sources are…
There have been many improvements over the past few years in the customer service sector. Yet, while some of those positive changes are because of…
If you have ever received sales training you are probably very familiar with the saying, “Features Tell – Benefits Sell”. In fact, it’s likely the…
PSCU, the nation’s premier payments CUSO, today announced the deployment of desktop automation through its partnership with Jacada, a leading worldwide provider of customer service robotic process automation (RPA).…
As many credit union executives know, communication is a crucial aspect of building long-standing relationships with members. Credit unions need to use each channel and…
The convenience brought by the advances in fintech has been a welcome change for consumers. From global remittance to mobile apps that allow us to…
Loan participation is not a new concept, but the way credit unions approach it is in need of an update. Currently loan participation is a…
Some unexpected and somewhat unwelcome news came to light recently that has caused ripples among credit unions. Traditional financial institutions are currently forging alliances with…
VyStar Credit Union has recently invested $1.25 million in PayverisCU, a Credit Union Service Organization (CUSO) with a focus on financial wellness and innovative money…
CU Members Mortgage, a division of Colonial Savings, F.A., launched a new mortgage intelligence tool on its website to include innovative mortgage analytics and enhanced…
As the Internet of Things (IoT) continues to find its way into the IT framework of credit unions, businesses are enjoying a broad range of…
Washington, D.C.-based Bank-Fund Staff Federal Credit Union (BFSFCU) has reached the threshold of returning more than $5 million in cash back to members buying and…
As a result of daily interactions with experience leaders like Amazon, Spotify and Google, today’s credit union members are conditioned to anticipate delightful, technological interactions…
PSCU, the nation’s premier payments credit union service organization (CUSO), today announced a multi-year investment of $100 million to further advance its industry-leading solutions to benefit the…
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Tremont CU Takes Its SEGs Seriously
Boston Based CU Adds Biotech Council and its’ 1,200 Firms to Fields of Membership and Utilizes Innovative Approach with its many SEGs Select Employee Group…
Increasingly sophisticated and pervasive cyber threats, the entrance of new competitors and complex regulatory and compliance requirements have all significantly impacted the credit union landscape…
ALM First works with hundreds of financial institutions, sharing the team’s insights on the latest market trends and economic data. This article includes key takeaways…
Today’s tight margin environment makes it difficult for financial institutions to maintain profits. Those that don’t understand the sources of that profitability will continue to…
Customer experience and security – these are top objectives for credit unions today, and the need for sound strategies to support these priorities that can…
SAFE Credit Union President and CEO Dave Roughton received the California Advocate of the Year Award for 2019 from the California and Nevada Credit Union…
Solutions enable company to standardize processes and enhance member experience for Owner credit unions PSCU, the nation’s premier payments credit union service organization (CUSO), today…
What is digital marketing? Digital marketing is an overarching term for all things related to online marketing, including everything from SEO to social media…
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Zeal Credit Union announces new CEO transition to position organization for next phase of growth.
Julie Kreinbring has been chosen to succeed Anthony Carnarvon as President/CEO, bringing design thinking, innovation and significant executive and leadership experience to the role. Zeal Credit…
Payrailz™, a digital payments company offering smarter more engaging payment experiences to banks and credit unions announced it has hired financial services industry veteran Gereen…
What Exactly Is Voice Banking? Banking through voice recognition is no longer a topic that people can easily ignore. That’s because it’s on the rise…
ACT Advisors, a firm specializing in financial planning and investment management for credit union executives, welcomes James Gowan as senior credit union executive consultant who…
Many Bank and Credit Union Sales Cultures Could Use a Makeover Have you noticed customers and members aren’t responding like they used to and more…
Over the last few years, I have had the great pleasure of working with many amazing credit unions. More importantly, I have been able to…
Move to LPL Financial Will Enable Tech CU to Scale its Investment Services Platform Technology Credit Union (Tech CU) recently entered into a new broker-dealer relationship…
The U.S. is experiencing a turning point in the adoption of contactless payment methods. More and more merchants are beginning to embrace contactless and turn…
Over the course of 2019, the yield curve has significantly decreased and flattened causing primary mortgage rates to fall. This has caused an increase in…
After years of assisting credit unions and banks navigate the merger & acquisition process, I’ve learned many valuable lessons. One of the most important is…
Teaching is one of the oldest professions. Through the years, we have learned teaching methods from people of the past, such as Socrates and Marie…
As we approach the next decade, data integrity and cyber security have risen to the top of financial institutions’ list of mission-critical initiatives. With instances…
Open banking is currently mandated in the EU, via a European directive. The regulation behind open banking is the second Payment Services Directive (PSD2). Open…
October 2, 2019, Mt. Prospect, IL – Cummins Allison, the leading innovator and provider of coin, currency and check processing technology as well as ATMs, today…
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LEADERSHIP: TFCU CEO Helped Build the 200th Home for Habitat for Humanity on Long Island, NY
Brad Calhoun, President/CEO of Teachers Federal Credit Union (TFCU) in Happauge, NY, one of the country’s largest credit unions, joined other CEOs and top executives…
What is the No. 1 goal for any contact center manager in any industry? To provide world-class service. This is an invariable response that beckons…
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The Future of SMB Credit Data
Is small business risky business? Without comprehensive credit data to demonstrate whether small and medium businesses (SMBs) are reliable, some companies hesitate to engage their…
Sharonview Federal Credit Union, one of the nation’s top 200 credit unions, is pleased to announce its new Chief Financial Officer – Jim Edwards, who…
The average cost of a data breach in the United States increased from $7.91 million in 2018 to $8.19 million in 2019, according to this…
In a previous article, my business partner, John Gregoire, wrote about BARS…. not the bars where you can get a drink, nor the bars that…
Fresh off the success of its highest attended owner meeting since inception, MEMBERS Development Company (MDC) hosted a dynamic and successful FinTech Expo on August…
According to a recent Kasasa/Harris Poll study1, more than half of Americans (55%) would be most likely to consider opening a new checking account at…
AUSTIN, Texas – August 13, 2019 – As Amplify Credit Union enters its 53rd year in 2020, it will do so with a new Chief Executive…
Hyperconverged infrastructure (HCI) is a software-defined solution that is gaining rapid interest across the financial services industry due to its ability to enable seamless connection…
When you begin life as the credit union for IBM employees, you quickly learn that your members are always going to be early adopters. This…
In our experience nearly all CEO evaluation surveys fall short of their intended objective. Board members want to fulfill their obligation to provide candid and…
Livonia, Mich. – July 29, 2019 – Following the announcement from T-Mobile and Sprint confirming approval from the Department of Justice of the merger between these…
Nation’s Largest Ethnic Credit Union Surpasses Asset Milestone NEW YORK, NY (July 2, 2019) – It took the Polish & Slavic Federal Credit Union 28…
Launching a new credit union service to thousands of members can be a nerve-wracking experience. But the “unmatched” support provided by Catalyst Corporate Federal Credit…
As peer-to-peer lending grows in popularity and consumers increasingly have access to lenders outside of their local communities, what can community banks do to strengthen…
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Within the Financial Services Industry, even high wage-earners are often financially fragile
This is worrying in many respects, but particularly so in the context of disability. When a household’s breadwinner can’t earn a paycheck, it may be…
The Federal Reserve Board’s Survey of Household Economics and Decisionmaking (SHED) from 2017 revealed that about half of U.S. adults with bank accounts had used…
Institutions insured by the NCUSIF reported rising net income year-over-year, yet it would behoove credit unions to remain cautious. Abundant risks, such as exposure to…