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Rates & Ratios: CU Loans Grow 0.4%
July 15, 2011
Unsecured personal loans led loan growth, followed by credit card loans, adjustable-rate mortgages, used auto loans, and fixed-rate mortgages.
A Sea of Liquidity
July 01, 2011
Should the Federal Reserve start a new round of quantitative easing (QE3) to ensure the economic recovery, or is it time to let the market determine interest rates and let economic chips fall where they may?
A Research-Rich Summer
July 01, 2011
Projecting future financial services trends isn't for the meek.
Cheney: State of CUs is ‘Extremely Good’
June 21, 2011
CUs must be consistent in their messages to Congress.
Rates & Ratios: CU Loans on the Rise
June 14, 2011
CU loans outstanding increased 0.2% during April compared to a 0.1% decline in March, according to CUNA’s economics and statistics department.
What Do Consumers Want From Their PFI?
June 09, 2011
Key differences exist between what younger and older consumers want from their primary financial institution.
Net Income Will Gain Momentum
June 02, 2011
You might be surprised by CUNA’s economic forecasts for 2011 and 2012.
Rates & Ratios: Members Take Up ARMs
May 18, 2011
Overall, CU loans outstanding decreased 0.1% during March, compared to a 0.4% decrease during February.
CFOs Increasingly Optimistic About U.S. Economy
May 04, 2011
National CFO survey reveals increased optimism on the U.S. economy and hiring, but serious concerns about inflation.
Half Would Switch if Fees Increase
April 07, 2011
Raising checking account fees would cause 51% of consumers to shop around.
Credit Union Magazine
July 2014 digital edition
Rewards Keep CU Cards ‘Top of Wallet’
A Social Media ROI Success Story
‘Always Know and Listen to Your Customers’
Happy 25th Birthday, Filene!
Soak up the Sun, Sing in the Rain
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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