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Articles Tagged with 'regulatory'
‘If You’re Not at the Table You’re on the Menu’
October 26, 2012
CUs face “crisis of creeping complexity” in regulations.
NCUA’s Top 10 Compliance Issues
October 22, 2012
Topping the list are multi-featured open-end lending plans.
Remember Our Roots and Stretch Further
October 01, 2012
The CU movement’s founders would salute us for keeping the dream alive, but would remind us our work is not yet done.
Problems With BSA E-Filing?
September 01, 2012
FinCEN mandated the electronic filing of Bank Secrecy Act (BSA) reports beginning July 1, 2012.
Cheney: Look to the Future With a Common Purpose
June 19, 2012
Don’t let others define what CUs are and what they should be, CUNA's CEO urged ACUC attendees Monday.
Three Top Compliance Challenges
April 14, 2012
Increased emphasis on these issues will require CUs to re-examine their processes, disclosures, and training.
Take a Legislative Look Ahead
March 19, 2012
CUNA will continue to drive home the message that CUs' tax-exempt status is a result of their not-for-profit cooperative structure and their special mission to serve consumers.
CFPB: A Cry From The Heart
February 10, 2012
CUs face a deluge of rules both baffling and complex.
Surviving the Examination During Challenging Times
December 12, 2011
Proper preparation can be the 'transactional lubrication' your CU needs to reduce the regulatory friction of an exam.
CUNA Aims to Ease CUs’ Reg Burden
December 01, 2011
Any new requirements that may emerge over the horizon will only add to the load CUs already must shoulder.
Credit Union Magazine
July 2014 digital edition
Beware of Casual Conversation with Members
Rewards Keep CU Cards ‘Top of Wallet’
Tech Budgets Are Going Mobile
Leadership Q&A: Brandon Michaels
Guard Against Employment Practices Liability Claims
While I thought that the premise of the article was good, I found one point very disturbing. It is that the Visions FCU ages people off their board at age 70. I found that really offensive. It perpetuates what I believe to be the regrettable marginalization of elders in our society, and the often erroneous assumption of debility and decline after a certain chronological age. Lots of folks over 70 are leading dynamic and viable professional lives and contributing to our society. How about Warren Buffet, a number of Supreme Court Justices, Jimmy Carter, the late Nelson Mandela and the late Maya Angelou, to name but a few, along with scads of writers, academics, performers, artists, and often our friends, neighbors and colleagues. If Visions wants new people on their board, it seems as though the term limitations and a nominating committee can accomplish that without aging all people off at age 70. I think that’s so insulting. And if those were paid employment, it would be illegal. I do wish you’d have picked a different credit union to profile---one that perhaps does many of the same things, without the arbitrary age exclusion. There have to be others out there.
David, good point about the "recovering comfortably" comment. That was an editorial addition--which I'll remove.
Many good points but too rosy? Will the "Federal Reserve raise short-term interest rates 1% per year for the next three years, starting in 2015—“probably next year at this time” ? I have heard from other economist that the US government will go bankrupt if that happens due to the QE the fed has done for several years. Also it seems an exaggeration to say “We survived a heart attack,now the economy is recovering comfortably." Comfortably recovering is too ignore the economic stress that many members still live with daily that will eventually affect many credit unions.
Karan, Great article and insight. I would also recommend that you start getting those credit cards into the hands of the youth BEFORE they are in college. One of the best ways to reach this young generation is through mom and dad. Before the student goes to college, get them started with a credit card (even if mom and dad are joint on it). It's never too early to start marketing credit cards. Mark
I would respectfully disagree that transactional data is a good place to start. In my opinion, relationship data is a much better starting point. Transactional data tends to require more "mining" of thousands/millions of transactions to identify opportunities or threats. Relationship data, however, involves identifying and profiling your high-value relationships (those profitable relationships with multiple products/services, for example) and leveraging that information to attract/cross-sell similar members. Generally involves a bit less effort and quite a bit higher return.
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