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The Path to The Cloud
September 09, 2013
'The cloud turns computing into a utility.'
Five Cloud Security Myths Debunked
August 27, 2013
The biggest obstacle to cloud adoption is the idea that the cloud is not as secure as on-premise systems.
Ten Strategies for Living in the Past
August 23, 2013
If you decide to reject these 10 low-tech strategies, be prepared to kiss your nice empty parking lot goodbye.
Stars Align for Mobile Payments
August 21, 2013
Redefining payments will help CUs reduce costs, increase revenue, and create a better member experience.
Harland Bolsters Fraud Prevention Capabilities
August 19, 2013
The announcement occurred at Harland's Connection Conference in Nashville, Tenn.
ATMs: Much More Than Money Machines
August 01, 2013
“Don’t think of ATMs in just their historical role as cash dispensers in a wall. Think of their increasing capabilities," Diebold's Jim Block says.
Holographic Reps Add New Dimensions
August 01, 2013
OmniSuite creates the illusion that members are “simply having a comfortable conversation with someone across the desk,” says MidUSA President/CEO Jim Miles.
Consumers Gravitate Toward Mobile RDC
July 29, 2013
Half of CUs with more than $50 million in assets will introduce mobile remote deposit capture within the next year.
'Spotpay' Deepens Ties with Business Members
July 22, 2013
Centra CU in Columbus, Ind., went live with SpotPay in May 2013.
Cross-Selling Solely in Cyberspace
July 16, 2013
Micronotes Cross-Sell produces customized loan offers for members, and prompts call centers to follow up on hot leads.
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Regulators Focus on Interest-Rate Risk
A Social Media ROI Success Story
Where Does it All Go?
Happy 25th Birthday, Filene!
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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