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Credit Cards Rising
June 27, 2013
If you haven’t taken a long, hard look at your credit card portfolio lately, now’s the time.
CDFI Fund Makes a Difference for Communities
June 18, 2013
Fifteen CUs received $13.7 million in financial assistance and $678,000 in technical assistance from the fund in 2012.
Don’t Overlook the Higher-Priced Mortgage Rule
June 17, 2013
There’s no better time than now to comply with and implement these changes.
Prepare for the ‘Tidal Shift’ Shaping Financial Services
June 13, 2013
Mobile services, hybrid cards help lenders serve underbanked consumers.
Special Report: Eighth Annual Underbanked Financial Services Forum
June 10, 2013
‘Our focus is on the consumer’s need to borrow, spend, save, and plan better.’
The Return of the Borrower
June 07, 2013
Expect CU loan balances grow 5% to 6% in 2013—and even faster in 2014.
Members ‘Like’ Calcubot
June 01, 2013
The tool gives CUs a branded social media billboard that culls daily loan rates.
CFPB Issues Guide on Truth in Lending
June 01, 2013
The CFPB in April released a “plain language” guide on the agency’s Ability-to-Repay (ATR) and Qualified Mortgage (QM) rule under Regulation Z (Truth in Lending).
Confusion Reigns Over Student Loan Costs
May 26, 2013
Half of high school seniors don’t understand the cost and terms of student loans.
Identify & Monitor Indirect Auto Lending Risks
May 20, 2013
A successful indirect auto lending program forecasts risk and monitors deviations from your CU's plan.
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Advocacy Puts Board Members on Offense
Win Employee Love: Four Steps
Five Cyber Security Considerations for CUs
Harness the Power of 'Intrapreneurship'
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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