Lending

The Profitability of Data Accuracy

January 01, 2008
The Profitability of Data Accuracy January 1, 2008 By Jennifer Maisano The tides have changed over the last few years and you can either ride the wave or get stuck in the undertow. Consumers are bombarded daily with dozens of commercials advertising "know your credit score" and "obtain your free... READ MORE

Bring Indirect Members Into the Fold

January 01, 2008
Bring Indirect Members Into the Fold January 1, 2008 By Cathy Fleming Converting indirect loan applicants into active members isn't easy. But doing so is a great way to expand membership, credit union executives say. Seek Out Reputable Dealers Indirect lending is a higher-risk channel. Work with reputable dealers. Some... READ MORE

The Relationship Pricing Conundrum

December 01, 2007
The Relationship Pricing Conundrum December 1, 2007 By Rich Jones Credit unions are innovating incentives and relationship packages to create more member loyalty. Member loyalty is tied directly to: Engagement; Brand image; Convenience and physical proximity; and Price. Let's dissect each of these. Engagement Engagement is measured by the number... READ MORE

Mortgage-Backed Securities: To Sell or not to Sell?

November 01, 2007
Mortgage-Backed Securities: To Sell or not to Sell? November 1, 2007 By Emily Moré Hollis Countrywide Financial Corp., Calabasas, Calif., in August, announced liquidity problems due to its inability to sell securities collateralized by mortgage loans. This prompted investor questions about the risk of principal losses on Countrywide securities backed... READ MORE

After Katrina, CUs Take Small Steps to 'Normal'

November 01, 2007
After Katrina, CUs Take Small Steps to 'Normal' November 1, 2007 Recovery partners Enterprise Corp. of the Delta (ECD) is the nonprofit sponsor of HOPE Community Credit Union . HOPE is a community development credit union with $60 million in assets and 9,500 members. Both organizations are based in Jackson,... READ MORE

Instant-Issue Cards Add Convenience

October 01, 2007
Instant-Issue Cards Add Convenience October 1, 2007 In today's fast-track culture, people remain on the lookout for products or services that streamline their lives. Instant-issuance technology for debit, ATM, credit, and prepaid cards has gained its share of attention in the past few years, and with good reason. Financial institutions... READ MORE

Members Go For Gift Cards

October 01, 2007
Members Go For Gift Cards October 1, 2007 By Cathy Fleming Gift cards might not be big money-makers for credit unions. But members like the convenience the cards provide, and credit union executives find value in adding the cards to their product lineup. Sarah Canepa Bang, CEO of Financial Service... READ MORE

Emerging Lending Trends & Innovations

August 01, 2007
Emerging Lending Trends & Innovations August 1, 2007 By Steve Rodgers "Credit unions are becoming more discriminating in the business loans they make," Keith Reynolds, vice president of lending and business services at $3.1 billion asset CEFCU , Peoria, Ill., told attendees during the Credit Union National Association's America's Credit... READ MORE

Card Security: Protect Data as if it Were Cash

August 01, 2007
Card Security: Protect Data as if it Were Cash August 1, 2007 By Andre Muscat The theft of more than 45 million credit/debit card details and 455,000 merchandise records from TJX Co.s Inc. over an 18-month period was one of the worst security breaches to hit the headlines this year.... READ MORE

Riding Out the Storm

August 01, 2007
Riding Out the Storm August 1, 2007 By Dianne Molvig On June 14, 2007, $1 billion asset Landmark Credit Union , New Berlin, Wis., closed its first Rescue Refi mortgage. After the closing, the borrower wrote to the credit union to express her gratitude. "I'm thankful to Landmark," she wrote,... 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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