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Articles Tagged with 'retail'
Six Factors That Will Change the Future of Payments
May 06, 2014
Checking account remains a valuable asset for CUs.
Teaming Up With Walmart
May 31, 2012
While some see Walmart as a threat, some credit unions see opportunity and enjoy a healthy business relationship with the retail giant.
Financial Services Undergoing ‘Secular Shift’
March 01, 2012
The financial services industry is transitioning from a high-margin business to a low-margin undertaking.
It’s Time to Deconstruct the Branch
October 11, 2011
Today’s banking experience is less about place and more about touch points. Deconstructing the branch allows financial institutions to match these touch points to customers’ needs.
NRF Forecasts 2.3% Holiday Sales Increase
October 18, 2010
After a ho-hum 2009 and a disastrous 2008, holiday retail sales are expected to increase 2.3% this year to $447.1 billion, according to the National Retail Federation.
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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