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Articles by Patrick Totty

Debit rewards

Durbin Amendment Shakes Up Debit Rewards

CUs reshape loyalty programs in anticipation of lower interchange fee income.
May 15, 2012
Patrick Totty
0 Comments
The Durbin amendment is like a big earthquake: Those closest to the event experience the most severe trauma. Those further away experience less shock but still feel uneasy.
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ALM

A Balance Sheet Balancing Act

ALM tools help CUs determine which loans best fit their balance sheets.
April 11, 2012
Patrick Totty
0 Comments
It doesn't take a mind reader to know one of the top questions facing CUs: “Will we be able to increase lending this year?”
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The consumer is king

Compliance: The Consumer Is King

Expect more scrutiny on fair lending and other consumer-focused issues.
March 11, 2012
Patrick Totty
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CUs can expect to face three major regulatory compliance issues this year: safety and soundness, fair lending, and Unfair Deceptive Abusive Acts and Practices.
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Business cards

Taking Care of Business Cards

Commercial credit cards provide access to new revenue opportunities.
February 07, 2012
Patrick Totty
0 Comments
CUs have a history with consumer credit cards, and many are expanding into business credit card services with a minimum of pain and fuss.
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Tools of the Trade

CUs Navigate the Mortgage Reg Maze

Impending regulations are ‘more fast-track than ever before.’
January 04, 2012
Patrick Totty
0 Comments
CUs face a jumble of new mortgage regulations in 2012.
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Tools of the Trade

Member Databases a ‘Gold Mine’

Mining member records helps CUs unearth a treasure trove of data.
December 19, 2011
Patrick Totty
0 Comments
Too many CUs either fail to segment or use obsolete segmentation schemes.
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Mobile Providers Tackle Security Concerns

Some mobile banking security fears are based on the unknown.
November 19, 2011
Patrick Totty
0 Comments
Mobile security is an integral part of any security discussion.
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Repo Man Goes High-Tech

Auto remarketers handle all aspects of the repossession process.
October 15, 2011
Patrick Totty
0 Comments
Auto repossessions are as American as apple pie, reaching nearly three million during the depths of the Great Recession.
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Executive Compensation: Waiting for a Rebound

Expect smaller pay increases, fewer incentives.
September 09, 2011
Patrick Totty
0 Comments
When compensation does rebound, CU executives can expect greater regulatory accountability.
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Beware the Inside Job

Core processors warn CUs about the threat of internal fraud.
September 02, 2011
Patrick Totty
0 Comments
Core processors are well aware of the need for security against fraud and theft—whether committed by employees, members, or outside scammers.
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CU Mag Cover May 2012

Credit Union Magazine

Access the May digital edition

May 2012

Book reviews

What's Popular

Popular Stories

‘Do One Thing Every Day That Scares You’

‘Reward Excellent Failure, Punish Mediocre Success’

Peters: It’s Good to be the Little Guy

MBL: If Banks Win, CUs Lose

A Bit of Unpleasantness

Recent Discussion

Lora has some excellent tips for us on articles we should read. Thanks Lora!

Definitely, we agree. It’s not only important to adapt to the market, but also to ensure that the organization as a whole has buy-in of this growth strategy. Without full commitment, you could be doing a disservice to your credit union and your Hispanic community.

Good points all, Joni, and thanks for putting it in plain English. DigitalMailer has been consulting a number of clients and affiliates on social media, and the question always arises: "Well, what if someone says something bad about us?" The answer is, they might be already. Not seeing it doesn't mean it can't hurt you. Make sure that, if you're not offering an engaging social media presence, you're at least able to monitor the possible threats.

Chris Brogan is simply awesome and this interview is spot on. Hearing Brogan speak at America's Credit Union Conference is worth the price of admission. Every credit union can learn from his wisdom. Social media is about building a community and credit unions can do that successfully with their members. But they can't do it with everyone: they should also target their social media efforts to particular niches.

Bill, your comments are on the mark. In order to demonstrate that the CU truly understands the risk inherent in lending, the ability to clearly articulate a meaningful discussion of the lending rationale behind lending decisions is critical. All too often, CUs leave it up to the sales force to determine a "marketing" direction for lending activity and the sellers are only too willing to fill the void create by a lack of a clear defined lending culture and credit environment. In large organizations marketing and lending should work hand in hand in defining what sales and lending goals are. The marketing culture needs to be informed of the dynamics of the lending environment and the credit culture must understand the marketing opportunities and threats. In smaller CUs the senior lender in conjunction with the board must, as you indicate, clearly document the what and why of the credit culture.

heroes

Your Say: CEO Succession

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