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Articles Tagged with 'credit'
CARD Act Holds Down Rates and Fees
July 21, 2011
Consumers are seeing fewer late fees, eradication of over-limit penalties, and minimal changes to annual fees since the CARD Act's passage.
Taking Risks To Help Members
July 18, 2011
If we adopt a totally risk-averse position we, in effect, behave no differently than many of our for-profit competitors.
Intent to Confuse
July 18, 2011
I tend to get suspicious when the name of a trade association doesn't accurately describe who it represents.
Top 10 Fraud Trends
July 15, 2011
Skimming, data breaches, and social engineering are three of the biggest threats credit unions will face in 2011.
Profile: Kimberly Woollard, Grow Financial FCU
July 15, 2011
A commitment to diversity can give CUs a competitive edge, HR executive says.
CUs Have Large Small-Business Opportunities
June 21, 2011
Small businesses dissatisfaction with banks gives CUs a prime opportunity.
Want to Attract Hispanic Members? Build a Community Presence
June 20, 2011
Several barriers have kept CUs from engaging fully with the Hispanic community.
‘Top-Level Thinking, Bottom-Line Success’
June 14, 2011
CUNA CFO Council conference addresses everything from interchange to innovation to investments.
Ready for July 21?
June 11, 2011
July 21, 2011, is a significant date for all credit union compliance staff. Why?
Get a Charge Out of Your Cards
June 07, 2011
Credit card profitability is surprisingly robust for many CUs.
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Regulators Focus on Interest-Rate Risk
Where Does it All Go?
A Social Media ROI Success Story
Happy 25th Birthday, Filene!
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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