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» Community Service
Don't Be Satisfied With the Status Quo
February 07, 2013
'Be heavily involved in your local community.'
‘Eagle Advance,’ ‘Credit Builder’ Give Members a Second Chance
February 06, 2013
‘We’re trained to recognize patterns in a member’s credit history.’
Underbanked Consumers: The Next Frontier?
February 01, 2013
The underbanked market shows promising revenue growth.
Meet the 2013 Wegner Award Recipients
February 01, 2013
The Wegner Awards are named in honor of late CUNA CEO Herb Wegner.
Counseling Helps Keep Foreclosures at Bay
January 21, 2013
Mortgage defaults are expected to remain elevated until 2016.
CUs Lend a Helping Hand During the Holidays
January 11, 2013
The holidays have come and gone, but CUs across the country created some memories that are still bringing holiday cheer.
Student Loans Show Potential
January 01, 2013
Student loans offer opportunities for income and provide an affordable way for members to send their children to college.
CU Takes Financial Education to the Big Screen
December 17, 2012
“Carter’s Fun Facts About Money” are filmed on location in the communities the CU serves.
CUs Shine in the Face of Hurricane’s Devastation
December 01, 2012
CUs from coast to coast have helped with volunteers, loan relief, and direct financial aid.
Bank Transfer Day—One Year Later
November 09, 2012
From a marketing and public relations standpoint, Bank Transfer Day was a success.
Credit Union Magazine
July 2014 digital edition
Regulators Focus on Interest-Rate Risk
A Social Media ROI Success Story
Where Does it All Go?
‘Always Know and Listen to Your Customers’
Happy 25th Birthday, Filene!
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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