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Chatzky Writes the Book on Personal Finance
February 13, 2013
See how simple, straightforward financial advice applies to your CU, members, and community.
NBC’s Tom Brokaw to address General Session
February 13, 2013
Distinguished television news anchor Tom Brokaw’s advice to those seeking a clear understanding of current events might be a bit surprising.
Meet the 2013 Wegner Award Recipients
February 01, 2013
The Wegner Awards are named in honor of late CUNA CEO Herb Wegner.
Gear Up Now for Training
February 01, 2012
Professionals and volunteers are heading back to the classroom, and these CUNA schools offer innovative approaches for handling new regulations.
Scenes from CUNA's GAC
March 08, 2011
Legislators urged attendees to pressure Congress to stop, study, and start over on the interchange issue.
Expect Fewer Corporates in CUs’ Future
March 04, 2011
Corporates will focus more on settlement and payment services; less on investments.
Maxwell, Herring Award Winners Continue Tradition of Service
March 04, 2011
The Dora Maxwell Social Responsibility/Louise Herring Philosophy in Action Awards winners have long histories of socially responsible activities to make their communities better and to improve members’ financial health.
Hill Visits Cover Key CU issues
March 03, 2011
State delegations realize their Hill visits can leave lasting impressions with lawmakers.
CUs Champion Youth Financial Education
March 03, 2011
Creativity and determination can produce dramatic results, especially in the realm of youth financial education.
Royce: 'Business Lending has Tremendous Traction.'
March 02, 2011
"You didn’t get us into the recession, but your business model can get us out," said the California congressman.
Credit Union Magazine
July 2014 digital edition
Regulators Focus on Interest-Rate Risk
Rewards Keep CU Cards ‘Top of Wallet’
A Social Media ROI Success Story
‘Always Know and Listen to Your Customers’
Where Does it All Go?
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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