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lora bray 2014
small business loans
auto lending weak economy
Articles Tagged with 'economy'
Members’ Balance Sheets on the Mend
July 28, 2014
CUs play a key role in advising members on how to navigate their financial difficulties.
Navigate today’s economy safely
July 01, 2014
The CUNA Economics & Investments Conference provides insight from CUNA's top economists on how credit unions can best thrive in the current financial environment.
What’s the Future of Interest Rates?
June 20, 2014
The first Fed funds rate increase should take place in the middle of 2015.
Our Employment Situation: What Is America Singing?
June 09, 2014
‘Job prospects for young high school and college graduates remain dim.’
Economic Tailwinds Create Smoother Sailing
May 20, 2014
CUNA economist predicts gradually rising short- and long-term interest rates.
Economists See Reasons for Optimism
March 01, 2014
Bill Hampel, CUNA’s chief economist, discusses what’s behind the positive forecast.
Economy Dodges Bullet but Deficits Loom
December 12, 2013
The federal government shutdown and budget debacle this fall led to a near miss for the U.S. and world economies.
Allow Me to Introduce Myself
December 09, 2013
Talent retention remains employers’ top HR priority.
CUs Can Expect Economic Tailwinds
December 05, 2013
With 2014 right around the corner, CU executives are wondering what’s in store for the economy.
Schenk: Expect a ‘Slow and Unsteady’ Recovery
November 06, 2013
New-auto loans will be a sweet spot for CUs next year.
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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