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Build an Exceptional Service Culture
June 01, 2014
Successful credit unions nationwide are discovering that “sales” and “service” can work hand-in-hand
Auditors Take the Fight to Fraudsters
May 21, 2014
Seven common audit findings—and how to avoid them.
Create a Great Workplace
May 12, 2014
Does your workplace challenge and appreciate its employees?
Solve Compliance Issues Before They Happen
April 21, 2014
CUNA Regulatory Compliance School addresses the complex regulatory environment.
Want to Provide Exceptional Service? Go Beyond the Obvious
April 17, 2014
‘It’s not enough to put the right people in place if they’re handcuffed with poor processes and policies.’
Get Compliant, Not Complacent
April 07, 2014
CUNA Lending Compliance School offers in-depth instruction in all lending disciplines.
See you in San Francisco for ACUC 2014
March 05, 2014
Think, motivate, learn, lead, and discover.
Gen Y Redefines 'Good Member Service'
February 20, 2014
The soon-to-be powerful group demands current technology, products, and services.
Connect With Council Networks
February 17, 2014
Be the first to know about—and help drive—advances that will influence your credit union and the entire industry.
Enterprise Risk Management Training Opportunities in 2014
February 04, 2014
Evaluating risk while making strategic decisions is crucial to success.
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Regulators Focus on Interest-Rate Risk
Where Does it All Go?
A Social Media ROI Success Story
Happy 25th Birthday, Filene!
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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