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Defend Against Fraudsters’ Tactics and Threats
May 14, 2014
CUs must balance security and member service.
Create Card Carrying Members
May 13, 2014
Use data analysis to staunch the outward flow of credit card business.
Lower Risk; Greater Value
May 03, 2014
NCUA has approved its final rule on derivatives.
CUs Search for Balance on BYOD
April 30, 2014
CUs are justifiably concerned about overtaxing their IT departments as they balance staff's needs with security concerns.
Help Kids Brush Up on Finances
April 21, 2014
Tooth Fairy offers chance to teach children about smart money habits.
'A Little Predicting Goes a Long Way'
April 20, 2014
Analytical tools sift through mountains of consumer behavioral data.
Scenes from NACUSO 2014
April 18, 2014
Conference draws nearly 450 attendees to Lake Buena Vista, Fla.
Retirees’ Longevity Takes Luster off Golden Years
April 15, 2014
‘Members need CUs today more than ever.’
NASCUS Chair: Regulators Should Address CUSO Function, Not Safety
April 15, 2014
‘We don’t need to regulate CUSOs, we just need to understand how they work.’
Jumiya: There's a Direct Link Between Health and Finances
April 08, 2014
When people are healthy, they’re less likely to have delinquencies, defaults, or bankruptcies.
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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