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Developing Tomorrow's CU Leaders
December 26, 2013
Three themes emerge from Bill Vogeney’s career: Service, education, and financial performance.
Bringing New Business on Board
December 23, 2013
Be strategic in your business development efforts.
Survey: Young Credit Card Users are Better Credit Risks
December 07, 2013
Those who obtain credit cards early in life tend to be better credit risks in the long-term.
A Closer Look at Payday Loans
November 22, 2013
Yes, payday loans are horrible, but research shows they meet a need.
Student Loans: ‘What Are You Waiting For?’
November 14, 2013
Consolidating student loans can help both CUs and borrowers, but make sure members know what they may be giving up.
Put Staff and Members First, Advises 'Old School' Lender
November 13, 2013
‘Never lose sight of our two most important things: employees and members.’
Growing Business Loans After the Recession
November 07, 2013
'Bankers spend too much time at their desks and not enough time out with their small-business accounts.'
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.
Scenes from the 19th Annual CUNA Lending Council Conference
November 06, 2013
A photographic look at the conference at the Arizona Biltmore.
Schenk: Expect a ‘Slow and Unsteady’ Recovery
November 06, 2013
New-auto loans will be a sweet spot for CUs next year.
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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