Management

Online Gambling: Don't Bet on It

April 27, 2009
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

Rev Up Auto Lending

April 27, 2009
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

The Barometer of Influence

April 27, 2009
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

Trigger a Mood Swing

April 27, 2009
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

Let's Get the Ape Off the Building

April 27, 2009
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

A Matter of Time

April 27, 2009
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

Work Continues On Stabilization Program

March 30, 2009
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

Unforeseen Consequences Of Black Swans

March 30, 2009
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

Look for Opportunities Behind Corporate Banter

March 30, 2009
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

CUs Need Conflict of Interest Policies, Disclosures

March 30, 2009
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

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