Lending

Sales Events Put Auto Loans in Overdrive

June 10, 2010
A recent auto sale at $1.4 billion asset Nassau Educators Federal Credit Union (NEFCU) yielded three times the usual application volume with an 89% approval rate. READ MORE

Gift Card Compliance Begins in August

June 01, 2010
This spring, the Federal Reserve Board amended Regulation E to implement the gift card provisions of the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. READ MORE

How to Run a Successful Auto Sales Event

May 26, 2010
A recent auto sales event yielded three times the usual amount of applications. READ MORE

Mortgage Fraud Continues to Climb

May 14, 2010
Reported incidents of mortgage fraud and misrepresentation by professionals in the mortgage industry grew 7% from 2008 to 2009, according to The 12th Periodic Mortgage Fraud Case Report  from the Mortgage Asset Research Institute , a LexisNexis® service. “While this is a noticeable increase, we believe that mortgage fraud is... READ MORE

Five Mortgage Fraud Schemes

May 14, 2010
There are a variety of schemes by which mortgage fraud can take place—sometimes involving staff inside the financial institution. The Federal Financial Institutions Examination Council  warns financial institutions to be on the watch for these common mortgage schemes: 1. Buy and bail This scheme typically involves a borrower who is... READ MORE

Beggs on the Market: Vehicle Prices Stabilize

April 29, 2010
After five consecutive weeks of auto price gains and nine weeks of truck price gains, vehicle pricing is showing signs of stabilization, says Ricky Beggs, vice president and managing editor for Black Book USA, a Gainesville, Ga., publisher of electronic and print valuation guides. Each week, Black Book representatives attend... READ MORE

Avoid Collateral Damage

April 26, 2010
When auto loans go bad, collateral-management tools help CUs pick up the pieces. In today’s tough economy, when many people are defaulting on car loans, you’d expect auto repossession agents to be rolling in clover. But they’ve also run into tough times. “Just when you’d think there... READ MORE

Car Wars

April 26, 2010
Rate competition becomes intense as auto makers unleash incentives. Focus •  CU auto loans as a percentage of total loans dropped from 39.4% in 1999 to 30.3% in 2009. •  Lenders that find ways to say “yes” to auto loan applications are garnering double-digit growth. •  Board... READ MORE

Housing Slump Doesn't Slow Down CUs

April 26, 2010
CUs set records in 2009 for mortgage originations and sales in the secondary market. Focus •  U.S. home sales dropped in first-quarter 2010, while CU mortgage originations continued to grow. •  CUs that don’t prepare now to grab mortgage market share might be missing a rare opportunity.... READ MORE

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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory (www.appreciationatwork.com/assess) will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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