Management

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

Thwart Internal Theft And Fraud

March 30, 2009
Sharyn Alden Develop and communicate strong antifraud policies and procedures. In a perfect world, all employees are honest and trustworthy at all times. This isn’t a perfect world. Technological changes and new products and services make preventing internal theft and fraud an ever-challenging endeavor, agree credit union executives. The tough... READ MORE

Unlimited Reasons To Serve Unmet Needs

March 30, 2009
Mark Condon Purpose-driven CUs have done business right for 100 years. Purpose drives everything. That’s the primary theme of a timely new business book titled “It’s Not What You Sell, It’s What You Stand For: Why Every Extraordinary Business Is Driven by Purpose.” Written by Roy M. Spence Jr. with... READ MORE

Forbes Has Solutions

March 30, 2009
LEAD STORY Forbes Has Solutions “In 2004, the Federal Reserve made a fateful miscalculation,” said Steve Forbes, editor of Forbes magazine, during the Credit Union National Association’s (CUNA) recent Governmental Affairs Conference (GAC) in Washington, D.C. Determining the U.S. was heading into a decade-long recession like Japan, the Fed started... READ MORE

'We'll Get Through This Together'

March 27, 2009

CUNA President/CEO Dan Mica to GAC attendees: 'Our work as your trade association is focused on finding other alternatives...and mitigating the cost to CUs.'

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