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Prepare for Catastrophic Losses Before Disasters Hit
July 22, 2013
Does your CU's disaster recovery plan account for natural disaster losses you’re likely to experience?
CU Branches Evolve to Meet Members' Needs
July 19, 2013
Four CUs discuss changes designed to elevate staff efficiency, reduce costs, and improve member service.
Fee or Free? Let Members Choose
July 19, 2013
‘Menu-based’ pricing helps CUs generate income in a fee-averse environment.
Win the Battle for Members' Wallets
July 16, 2013
Technology has changed the delivery of financial services to consumers, opening the door for outside competition.
Market the Debit Difference
July 16, 2013
Improved data analytics and segmentation tools give credit unions the ability to identify and target member segments with relevant offers.
Public Debt and GDP
July 15, 2013
The pace of U.S. economic growth continues to lag long-run norms.
Emerging Loss Trends Threaten CUs' Financial Health
July 08, 2013
CUs are becoming more susceptible to emerging loss exposures, according to CUNA Mutual Group's Roger Nettie.
Debit Boosts Revenue, Cuts Costs
July 05, 2013
Despite regulatory changes that have slowed debit card use, financial institutions stand to gain by prioritizing their programs.
Strong Membership Growth Continues at CUs
June 21, 2013
Momentum from Bank Transfer Day continues.
Federation Receives Grant for Shared Banking Platform
June 17, 2013
Federation also receives $125,000 award for leadership program.
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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