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» Bill Klewin
Things I Think I Know
A curmudgeon’s take on compliance requirements in the New Year.
December 31, 2013
New disclosure requirements will not improve consumers' understanding of loan products.
Beware Zombies, Vampires, and TCPA
Some scary stories are real—and potentially costly.
November 25, 2013
Members must provide prior express written consent to receive marketing calls, texts, and faxes.
Get Comfortable with Constantly Changing Regulations
Follow a three-step road map to manage the growing compliance burden.
June 18, 2013
Like death and taxes, the growing volume of complex regulations is inevitable.
Lending Compliance Takes a Detour
Slow down and watch for compliance hazards with multifeatured open-end lending plans.
November 1, 2012
CUs now can find the lending solution that is right for members.
It’s Time for an Auto Lending Compliance Tune-up
Auto-loan uptick provides opportunity for review.
July 27, 2012
Compliance requirements differ for direct and indirect loans.
CFPB: Brace for Impact
CUs must continue to watch the volume, complexity, and novelty of new consumer regulations.
March 1, 2012
The Consumer Financial Protection Bureau is taking very seriously its role as protector of consumers against abusive credit providers.
CFPB: A Cry From The Heart
Establish the new agency’s legality before subjecting CUs to still more regulations.
February 10, 2012
CUs face a deluge of rules both baffling and complex.
CFPB Takes on Perennial Challenge as First Big Test
From Ficus to Nandina, agency aims to simplify cumbersome and redundant mortgage disclosures.
December 21, 2011
It would be a rare win-win if the new bureau could streamline the mortgage process for lenders in a way borrowers could understand.
Compliance: Never Let Your Guard Down
A case in point involves the Equal Credit Opportunity Act.
November 23, 2011
Penalties for violating ECOA can be quite severe. Just ask a small bank in Texas.
Lending in the Not-Too-Distant Future
See what the member of the future, Olivia, will expect from CUs.
July 25, 2011
Technology will continue to change how members obtain CU services.
View All Articles by Bill Klewin
Credit Union Magazine
April 2014 digital edition
Five Steps to Social Media Success
Give HR a Seat at the Leadership Table
Create Awareness of Your CU
Cheney: ‘We’ve Energized the Movement’
Can Consumers Trust Their Retirement Intuition?
So, sick people can't get loans, or suffer higher interest rates? This is interesting info, but what does it lead to, especially for the relationship between my credit union and my family? I've had bypass surgery and knee replacements. Do I get penalized on my mortgage? While the data may pique ones interest (no pun intended), I just can't figure out how it's actionable, either for the member or the credit union. IMHO!!!!
I, until recently, have been a manager of two small credit unions. We recently merged with a larger credit union as a result of the regulations and not being able to keep up. We were in a "catch 22" of not being able to afford more staff to help with the back room work, compliance issues, and many other tasks. After going through two federal exams we felt the writing was on the wall. We found a merging partner while we were still sound and not waited until we were forced to merge. Although the merged has been good for the membership over all we have lost our identity. My advice to any other credit union in this position would be to think long and hard and see if there is any other way to make the credit union work. I have learned a lot since the merger and can see things we could have done to make the credit union survive.
I am so happy to see the passion being instilled in our credit union future leaders! They can make a huge difference in the strength of our industry. They ARE more when they take that back to their credit unions.
Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory (www.appreciationatwork.com/assess) will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.
Walt: Thank you for your entry encouraging credit unions to “get in the(mobile) game.” CO-OP Financial Services could not agree more. Every market study is arriving at the same finding – U.S. consumers are conducting financial transactions using their mobile phones. Even more importantly, younger adults – a prime target for new members – say that they can't imagine life without their mobile devices. Credit unions have a tremendous opportunity to attract and retain members with mobile services, and there is equal risk in not doing so. Caroline Willard, EVP, CO-OP Financial Services.
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Say: Who should be Credit Union Magazine's 2014 CU Hero of the Year?
William Armstrong, Northeast Community CU
Dan Morrisey, Queen of Peace Arlington FCU
William Rissel, Fort Knox FCU
Joni Senkpeil, Illinois CU System
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