Lending

An Opportune Moment

September 23, 2009
Dianne Molvig Use the consumer backlash from banks’ credit card practices to your CU’s advantage. Like a lot of people, Bill Winter still gets credit card offers in his mailbox, but not as many. And the ones he gets aren’t very appealing. “I got an offer the other day that... READ MORE

The Evolution of Credit Cards

September 23, 2009
    The credit card industry has certainly had a colorful past, but it’s now at a crossroads. Robert D. Manning The U.S. credit card industry’s lust for ever-greater profits—the highest in retail banking—has collided with the consumer-led recession and the collapse of the conglomerate structure of commercial banking. It... READ MORE

Hispanics Drive Member Growth

September 23, 2009
Attracting and serving Hispanic members drives membership growth and bolsters the bottom line. READ MORE

The First Supper

September 23, 2009
An embarrassing moment sparks a multibillion dollar industry. In 1949, Frank McNamara, head of the Hamilton Credit Corp., went out to eat with some of his buddies. At the dinner were Alfred Bloomingdale (grandson of the founder of Bloomingdale’s department store) and Ralph Sneider, McNamara’s attorney. The three men ate... READ MORE

Loan Modifications: Lessons From Ent FCU

August 27, 2009
Roughly 70% of members with modified loans resume their original payments. READ MORE

Take the Paper Out of Lending

August 27, 2009
Eliminating paper from the lending process saves credit unions money and makes them more efficient, say Scott Cowan , vice president of sales and marketing, and Teri Rosquist , marketing assistant for Millennial Vision Inc . (MVI). Getting to that point takes some work, the right tools, and a new employee... READ MORE

Show Me the Data: Boost Card Success With Information

August 27, 2009
By Brian Scott Every swipe of a credit card generates hundreds of lines of data. Everything from merchant information to purchase details to rate and finance statistics are captured and stored following each plastic transaction. Buried deep within this data are the answers to questions that can mystify even the... READ MORE

Compliance Q&A: Adverse Action Notices

August 27, 2009
By Valerie Moss Q Must a credit union provide an adverse action notice under Regulation B when it turns down a business loan application?   A Yes . Regulation B (Equal Credit Opportunity) applies to all credit—commercial as well as consumer loans. However, if two or more people have applied... READ MORE

Restructuring Troubled Debt

August 25, 2009
Can you spot the troubled debt restructuring in these scenarios? READ MORE

'Don't You Love a ... Controversy?'

July 20, 2009
I love a good controversy. This one comes courtesy of the quirky world of statistics, the American Bankers Association's perennial credit union basher/economist Keith Leggett. 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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