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Articles Tagged with 'digital'
Disruption on Deck for Retail Financial Services
June 09, 2014
In the future, financial institutions may focus on being consumers ‘primary financial application.’
Digital Payments ‘Happening Now’
May 03, 2014
At stake is control of member data and a digital pathway toward other revenue sources.
Fight for a Bold Social Media Future
May 03, 2014
‘Standing for everything will get you nowhere.’
Will Digital Empower or Destroy CUs?
April 20, 2014
Young adults embrace CU qualities such as trust, fairness, and legitimacy.
Solving Consumers' Problems Wins Their Wallets
April 19, 2014
The digital revolution has transformed how consumers make purchasing decisions, says content marketing guru Marcus Sheridan.
Do Consumers Understand Your Brand?
January 22, 2014
Technology provides the opportunity to revive member loyalty.
Prepare for the Next Revolution
January 06, 2014
‘I never think about the future—it comes soon enough.’
Involve the Board in Technology Planning
October 18, 2013
Is your CU making the most of technology?
CU Industry at the Tipping Point
November 09, 2012
CUs need a growing number of channels to connect with their members.
Improve Your Digital Convenience
November 01, 2012
Nearly 70% of nonmembers between the ages of 18 and 24 are not at all familiar with credit unions.
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Regulators Focus on Interest-Rate Risk
Advocacy Puts Board Members on Offense
Five Cyber Security Considerations for CUs
Win Employee Love: Four Steps
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.
Congratulations on a fine article. Perhaps the best advise is unsaid but exemplified throughout the article - namely avoiding the use of the term "Financial Literacy." The term is insulting and counterproductive because it implies that those who take the training are "Illiterate."
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