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safe credit union
lora bray 2014
Articles Tagged with 'risk'
Prepare for Interest-Rate Risk Reg
June 13, 2012
Federally insured credit unions with more than $50 million in assets must comply with the IRR regulation, but federally insured credit unions with less than $10 million in assets are exempt.
Keep the Lid on Lender Liability Losses
May 24, 2012
Reducing exposure to this risk starts with basic due diligence, says CUNA Mutual Group's Jay Isaacson.
CFOs Offer Big-Picture Projections
May 01, 2012
How do CFOs view credit unions’ outlook in the months ahead?
No CU Is Immune From Employee Dishonesty
April 27, 2012
Many boards aren’t prepared for the financial and reputational impact of embezzlement. Whether your CU is large or small, employee dishonesty doesn't discriminate.
Use Social Media Wisely
April 16, 2012
Failure to clearly outline the CU’s social media use expectations through a written policy can significantly increase risk.
New Threats Require a New Approach to Risk Management
March 29, 2012
Risk management challenges come in all shapes and sizes, from new forms of fraud to the increased regulatory burden.
A Proactive Regulatory Approach
March 20, 2012
New approach by regulator isn't mean to cause undue burden on CUs.
Think You Know CPI? Think Again
March 01, 2012
If certain borrowers aren’t insuring collateral, your CU—and your members—bear the risk.
Living With Narrow Net Interest Margins
February 16, 2012
In the past, most CUs could generate sufficient net interest to cover operating expenses. For most of us, this is no longer true.
Five Questions You Should Ask About FFIEC Compliance
February 08, 2012
Address these questions before implementing a solution to comply with FFIEC’s Internet banking authentication requirements.
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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