Operations

Six Cost Control Myths

April 27, 2009
Expense control is fraught with myths for two reasons: 1. What works for one organization won’t work for another; and 2. Changes in technology and regulations. That’s according to the CUNA CFO Council  white paper, “The Essentials of Expense Control,” by Mike Moebs, principal and founder of Moebs Services ,... READ MORE

Control Costs, Boost Spreads

April 27, 2009
Judy Dahl Shrinking margins make cost control vitally important. Credit union margins are perilously low: Return on assets fell to 31 basis points (bp) at year-end 2008 versus a five-year average of 71 bp, reports the Credit Union National Association. This makes cost control more important than ever, say Eve... READ MORE

Marketing: Do More With Less

April 27, 2009
LEAD STORY Take these steps to get more from your marketing budget, advises Anne Legg, vice president of marketing for $168 million asset Cabrillo Credit Union, San Diego, and chair of the CUNA Mar-keting & Business Development Council Executive Committee: Evaluate processes. Map out your marketing activities and “sculpt” away... READ MORE

Beat the Repo Blues

April 24, 2009
Mary Mink Underwriting changes and loan workouts avert some vehicle repossessions. But when CUs must take back vehicles, remarketing recoups some losses. With unemployment at record levels and property values down, credit union members across the country every day face the unthinkable choice between a car to drive or a... READ MORE

Handheld Hazard

April 23, 2009
Mary Mink While portable digital devices afford convenience, they also make it easier to steal CU data and disrupt operations. Take note: Glue guns aren’t a reliable form of information security in the age of smartphones, MP3 music players, laptop computers, digital cameras, and thumb drives. Countrywide Home Loans, Calabasas,... READ MORE

Safety With Style

March 30, 2009
Patrick Totty Aesthetics play a bigger role in CUs’ physical security. “Physical security” is a catch-all term including objects and processes ranging from bullet-resistant laminates to electronic countermeasures against fraudsters to high-tech solutions for retrieving stolen money. In each measure used to ensure a credit union’s physical security or the... READ MORE

Suncoast Schools, GTE Plan to Merge

March 03, 2009
Suncoast Schools Federal Credit Union and GTE Federal Credit Union have signed a letter of intent to merge the two credit unions subject to satisfactory due diligence reviews and regulatory approval. The Tampa, Fla.-based credit unions will conduct due diligence to review a number of points including financial statements, reports... READ MORE

When CUs Flooded the National Mall

February 20, 2009
LEAD STORY On Feb. 28, 1991, 15,000 credit union people flooded the National Mall in Washington, D.C. They rallied “to show lawmakers and the nation that credit unions are the one bright spot in an otherwise bleak financial marketplace,” Richard “Sandy” Beach, the Credit Union National Association’s (CUNA) vice president... READ MORE

Think Thrift

February 20, 2009
Judy Dahl Teach members to make smart financial decisions and their fiscal health will improve. So will your CU’s. Even before the current financial crisis swept the globe, consumers were falling deeper into debt. Many made uninformed financial decisions, often at the hands of predatory lenders and banks. “When I... READ MORE

It's Time to Shape History

February 20, 2009
Tough times call for rallying around common challenges. History is a collection of watershed events and momentous times that can shape and define an industry. The credit union movement experienced such a time following the Great Depression. Challenging times call for banding together, caring for one another, and... READ MORE

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