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» Steve Rick
What’s the Future of Interest Rates?
Expect a gradual return to interest-rate normalization.
June 20, 2014
The first Fed funds rate increase should take place in the middle of 2015.
Solving the Fannie and Freddie Puzzle
The nation’s $10 trillion housing finance system needs reform, but there’s little agreement about what reform should look like.
March 5, 2014
Reform could have a significant impact on credit union mortgage lending operations and earnings.
CUs Can Expect Economic Tailwinds
The economy is gaining traction in several sectors, according to CUNA's senior economist.
December 5, 2013
With 2014 right around the corner, CU executives are wondering what’s in store for the economy.
The End Is Near!
Federal Reserve announces plans to phase out quantitative easing.
August 1, 2013
The Fed has used this tool to purchase $40 billion in mortgagebacked securities and $45 billion in longer-term Treasury securities each month since December 2012.
The Return of the Borrower
Less household debt and the improving labor market bode well for CU lending.
June 7, 2013
Expect CU loan balances grow 5% to 6% in 2013—and even faster in 2014.
Will the Fourth Time Be a Charm?
The Fed’s QE-4 plan will keep pressure on CUs’ net-interest margins.
February 11, 2013
The Fed is saying it’s willing to accept an inflation rate that is higher than its target of 2%.
Fiscal Cliff Deal Should Spur Optimism
CUNA economist says the deal will boost household and business confidence.
January 12, 2013
The fiscal cliff agreement will have a net positive effect on the average American.
Dear President Obama…
How to stimulate both short-term economic growth and long-term fiscal responsibility.
December 10, 2012
These suggestions aren’t politically palatable, but at least you have options.
CU Financials Show Improvement
Mortgage balances are growing and delinquency ratios are dropping.
September 1, 2012
In the first half of 2012 credit unions reported improving financial results.
CU Assets Hit $1 Trillion Mark
But future asset growth will be limited by capital growth.
June 1, 2012
In March 2012, the credit union movement’s total assets reached $1 trillion for the first time in history.
View All Articles by Steve Rick
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!
Guard Against Employment Practices Liability Claims
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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