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» CU Data
A Bridge Too Far
April 30, 2012
Wise information management will lead to a clean bill of health.
Rates & Ratios: Savings Outpace Loans During February
April 16, 2012
Adjustable-rate mortgages lead loan growth at 0.7%, followed by fixed-rate mortgages, which grew 0.4%.
The Guest in the Garage
April 16, 2012
Finding answers to our problems may take time, trial, and error, but performing due diligence is a great start.
Don't Throw Tomatoes During Difficult Conversations!
April 09, 2012
Nearly three-fourths of retirees don’t regularly discuss their personal finances with family.
It's Tea Time!
April 02, 2012
Our cup runneth over with information about the economy, employment, and healthcare.
That's What Friends Are For
April 01, 2012
This week’s survey findings examine mobile banking, budget issues—and a brief about young adults moving home that may surprise you.
The 2012 Economy: ‘Good, Not Great’
March 21, 2012
Barring any major shocks, the U.S. economy should experience gross domestic product growth of 2.5% in 2012.
There's No Place Like Home...
March 19, 2012
With mortgage lending there’s more at stake than a simple refinance, first home purchase, or ‘routine’ foreclosure.
NCUA Settles Claims Against HSBC
March 12, 2012
HSBC has agreed to pay NCUA $5.25 million to reduce the losses associated with the five corporate CU failures.
Lost in Plain Sight
March 12, 2012
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Regulators Focus on Interest-Rate Risk
Advocacy Puts Board Members on Offense
Five Cyber Security Considerations for CUs
Win Employee Love: Four Steps
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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