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Articles Tagged with 'strategy'
Give HR a Seat at the Leadership Table
April 21, 2014
‘Many in executive leadership have not given HR leaders the respect they deserve.’
Outsource Social Media? It's Working for These CUs
April 09, 2014
'It takes time, diligence, and consistency to implement a social media strategy.'
It’s Time to Rethink IT Recovery
March 27, 2014
Shift continues from disaster recovery to business continuity.
Innovation Often Happens at 'the Click Moment'
November 07, 2013
'The purpose of strategy is to convince ourselves to act,' says Frans Johansson, author and CEO of The Medici Group.
June 01, 2013
The key strategic point is: The one who enrolls is the one who controls.
Exploring a Payments Strategy
April 08, 2013
The days of relying on a steady income stream from debit card interchange fees are fading.
Combine Member Information with Sound Judgment
January 06, 2013
Investing in member-centric strategies can ensure a CU’s long-term competitiveness.
It's Time to Make Mortgages
May 23, 2011
The housing crisis and recession have given CUs an opportunity to serve more members. But this period of heavy mortgage refinancings won’t last forever.
20 Questions for Your CRM Provider
May 18, 2011
If a vendor makes a claim but won’t guarantee it in writing, that speaks volumes.
Act Like a Shark: Keep Moving
April 06, 2011
You may think you don't have enough time, money, or people to innovate. But limited resources can force us to be more creative.
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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