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The World is Advancing Quickly In Many Ways (But not all!)


Welcome to yet another (our 157th) issue of Credit Union BUSINESS magazine,  featuring a very well balance editorial menu of helpful articles for CU professionals.

One of the major differences between credit unions and their community bank competitors is the belief in actively building financial literacy among its’ members.   Philadelphia Federal Credit Union’s Erin Ellis has a full -time position doing just that – as an accredited financial educator at PFCU.   On next page, Erin tells our readers how she goes about spreading the word on financial literacy.

If you’re not yet familiar with the term “distributed ledger”, this may be your lucky day, because we have a terrific introduction to the credit union blockchain called CULedger written by Julie Esser, who goes by the title of chief engagement officer of CULedger, the new CUSO which is engaging in some very exciting technology.  Julie’s article begins on page 12.

If you’re interested in finding out exactly how to make your branches perform at the top of their potential, read Chad Davis’ article on a new and thoroughly modern was to schedule branch staffing using real-time data.  Chad’s article begins on page 16.

Selling is such an active part of branch performance and Nick Brown (page 21) makes a very good living by helping credit union branch personnel become better sales people.  It begins with the hiring process and extends to important formal sales training.  With traffic in many branches slowing due to technology, it’s possible to increase loan volume and quality through solid teller and MSR sales training.

Ken Bator is a knowledgeable advisor to many sophisticated financial institutions and beginning on page 18 he shares a success story of a recent credit union start-up operation called The Finest FCU serving law enforcement officials in the New York City area.

I visited a friend recently and thought she was speaking with another person named “Alexa” until I came into her living room to find her adjusting the music.  Artificial intelligence is making its’ way into our homes and our financial lives, and Rene` Clayton, an innovation expert at the leading CUSO PSCU knows all about it.   Read all about the benefits and challenges that lay ahead with AI beginning on page 32.

Every responsible financial executive has to be aware of the dangers of being exposed to a charge of sexual harassment in the workplace.  Last month, seasoned business freelance writer Lin Gresing-Pophal shared some very good advice on the topic, and in this issue, she continues with this important topic.  Please see page 34 for the update.  And, in case you missed it, we’ve linked part 1 on that page for your convenience.

Finally, I’m pleased to announce that July 5th marked our 14th anniversary of publishing CU BUSINESS magazine every month, and we are eager to share its information with new subscribers to our website and to do that have strategically placed house ads featuring a brief and colorful video.  Please click on the ad and again on the arrow to view this masterpiece.  And, please take advantage of an opportunity to save 60% in doing so.  Thanks for reading!!


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