Management

Valerie Moss Gambling reg has implications for CU transactions and relationships. Credit unions participating in certain payment systems will have to verify at account opening that their member businesses aren’t Internet gambling outfits and have procedures in place to prevent restricted transactions. That’s according to a regulation effective Jan. 19... READ MORE

Sharyn Alden CUs accelerate back-to-basics approaches to boost auto loan programs. How do you encourage auto loans during a down economy? While no one formula fits all situations, CEOs agree: You must approach auto lending differently. You must work smarter to attract members who may be interested in, and qualify... READ MORE

John Magill The movement’s political force has put CUNA at the bargaining table with legislators. Influence is to Congress what the dollar is to the economy. Both allow the holder to obtain a desired product. In the economy, the dollar gives you purchasing power. In Congress, influence gives you power,... READ MORE

John Franklin Deliver the five things members want most. In my 41 years in the Credit Union System, I’ve seen periods where credit unions experienced problems and losses due to the economy or market fluctuations. They survived every one of them and usually emerged stronger and more highly esteemed than... READ MORE

Daniel A. Mica The CU movement definitely faces a monster of a problem. Veteran comedian Bob Newhart had a famous routine that may describe best what credit unions have been experiencing during the past months. It goes something like this: It’s a security guard’s first night on the job at... READ MORE

LEAD STORY Promotional messages emphasizing a person’s time and experiences with a product lead to more favorable attitudes and more purchases, according to Stanford Knowledgebase . Researchers Jennifer Aaker and Cassie Mogilner cite MillerCoors’ “It’s Miller Time” and Citigroup’s “Live Richly” as effective campaigns because they focus on the consumer... READ MORE

Mary Dunn The final costs to CUs are unknown at this time. Most agree the National Credit Union Administration (NCUA) Board needed to act in January to assist the corporate credit unions and that it had few options. Concerned about capital and liquidity in these institutions that also might affect... READ MORE

Bill Klewin It’s time to rethink all your old lending assumptions. In my April 2008 column, I wrote about black swans. To refresh your memory, a black swan is a highly improbable event with three principal characteristics: 1) It’s unpredictable; 2) it carries a massive impact; and 3) after the... READ MORE

Pam Finch NCUA’s corporate CU proposal liberates movement leaders to talk structure. When news of the National Credit Union Administration’s (NCUA) corporate stabilization plan broke, you almost could see the smoke rising from the network server housing the CUNA CFO Council e-mail list activity. The opinions and emotions of the... READ MORE

Kathleen Thompson Take note of IRS Form 990’s new Part VI on nonprofit governance. A new Internal Revenue Service (IRS) requirement has focused attention on credit unions’ need for conflict of interest policies and annual disclosure processes for board members and senior staff to report possible conflicts. Review a sample... READ MORE