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A Merger of Equals
August 01, 2012
Mergers of credit unions, especially those of relatively equal size, can be difficult because the partners often struggle with leadership, governance, and cultural issues.
Highlights From CUNA’s ACUC
August 01, 2012
The state of the credit union industry is outstanding, says CUNA President/CEO Bill Cheney.
Kick the Tires on Your Interest-Rate Risk Model
July 31, 2012
Just like maintaining a vehicle, CUs should review their interest-rate risk models to determine whether current assumptions are appropriate.
Branch Security: Identify Your ‘Hot Points’
July 26, 2012
Some security hot points are consistent from branch to branch.
Help Members Navigate Investment Waters
July 24, 2012
Members crave unbiased information from an institution they trust.
Four Simple Rules for Balance Sheet Management
July 16, 2012
Large balances sitting in Fed funds have amounted to a painful and mistaken bet on rising interest rates.
Don’t Let Severe Weather Rain on Your Loan Portfolio
July 06, 2012
Ultimately, CUs want to do more than protect their own assets during storm season.
Speed is the Key to Beating New Account Fraud
July 03, 2012
It takes financial institutions 151 days, on average, to detect a fraud occurrence.
Care About the Rule-Making Process
July 02, 2012
Proposed rules are important to follow in this compliance environment.
Fee or Free
July 01, 2012
Credit unions benefited from the bankers’ misstep on fees, garnering hundreds of thousands of new members.
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Regulators Focus on Interest-Rate Risk
Where Does it All Go?
A Social Media ROI Success Story
Happy 25th Birthday, Filene!
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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