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» Community Service
CUs Pull Together to Help Oklahoma Tornado Victims
July 10, 2013
Influx of support reminds Tinker FCU's Matthew Stratton that credit unions are a "close-knit community."
Three Great Initiatives for CUs
July 10, 2013
Our challenge is to be heard— loud and clear.
Looking for Rock Stars
July 01, 2013
If you know a Credit Union Rock Star, tell us about him or her.
Serving Low-Income Populations Requires Innovation
June 17, 2013
Low-income consumers need relief from payday lenders, more public and private investment, and greater access to mainstream financial products and services.
Why Financial Empowerment Matters
June 14, 2013
Combining workforce development with financial counseling can prevent people from needing additional government help.
How to Build Community Partners
June 14, 2013
Cooperation was a central theme of the Federation’s 2013 Annual Conference in Baltimore.
Prepare for the ‘Tidal Shift’ Shaping Financial Services
June 13, 2013
Mobile services, hybrid cards help lenders serve underbanked consumers.
Reach the Underserved
June 13, 2013
The quality of your offerings is irrelevant if you don’t get them in front of those who need them.
Photos From Miracle Jeans Day
June 10, 2013
The CU movement raised more than $300,000 last year for Children's Miracle Network Hospitals during Miracle Jeans Day.
Scenes from the Federation's 2013 Annual Conference
June 07, 2013
Speakers urge CUs not to wait for federal immigration reform to reach out to the immigrant community.
Credit Union Magazine
July 2014 digital edition
Beware of Casual Conversation with Members
Rewards Keep CU Cards ‘Top of Wallet’
Tech Budgets Are Going Mobile
Leadership Q&A: Brandon Michaels
Guard Against Employment Practices Liability Claims
While I thought that the premise of the article was good, I found one point very disturbing. It is that the Visions FCU ages people off their board at age 70. I found that really offensive. It perpetuates what I believe to be the regrettable marginalization of elders in our society, and the often erroneous assumption of debility and decline after a certain chronological age. Lots of folks over 70 are leading dynamic and viable professional lives and contributing to our society. How about Warren Buffet, a number of Supreme Court Justices, Jimmy Carter, the late Nelson Mandela and the late Maya Angelou, to name but a few, along with scads of writers, academics, performers, artists, and often our friends, neighbors and colleagues. If Visions wants new people on their board, it seems as though the term limitations and a nominating committee can accomplish that without aging all people off at age 70. I think that’s so insulting. And if those were paid employment, it would be illegal. I do wish you’d have picked a different credit union to profile---one that perhaps does many of the same things, without the arbitrary age exclusion. There have to be others out there.
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.
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