Bouncing Back After the Recession

CUs’ top planning strategies include proactive lending and mobile banking.

June 27, 2013
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2. Mobile banking
Mobile banking has gone from cutting edge to mainstream faster than any other financial innovation. It’s quickly becoming a basic expectation, especially among younger consumers.
The number of U.S. consumers accessing bank accounts via mobile devices will nearly triple to 96 million by 2016, according to projections from Aite Group. And the number of mobile transactions will grow to 17 billion by 2015—nearly triple the total from just four years earlier, according to CEB TowerGroup.
It’s no longer sufficient to view your competition in terms of other credit unions and community banks. Your members expect your credit union to offer the products they see advertised by big banks—specifically mobile banking and payments capabilities.
If your credit union already offers these services, tell members and potential members about them.
Mobile bill payment, remote deposit capture, digital wallets, and person-to-person payments are on the verge of widespread availability. Soon, mobile devices will become the primary touch point with consumers. But there’s a downside, and it involves …
NEXT: Mobile malware

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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory ( will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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