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Articles by Patrick Totty

Tell, Don't Sell

CUs boost income with member-friendly investment and insurance services.
May 12, 2013
Patrick Totty
No Comments
'Fees' not necessarily a four-letter word when linked with member-friendly services.
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Tools of the Trade

Safeguarding Members From Fraud

Despite CUs’ best efforts, fraudsters continue to catch people off guard.
May 11, 2013
Patrick Totty
No Comments
Fraud—the intent to trick people out of their wealth—is as old as humanity.
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CRM: ‘The Great Differentiator’

Software helps CUs use service as a selling point.
March 8, 2013
Patrick Totty
No Comments
Staff buy-in is crucial for making CRM systems effective.
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Tools of the Trade

More Regulatory Pressure in Store for CUs

CUs are at the intersection of regulatory pressure and operational complexity.
March 1, 2013
Patrick Totty
No Comments
Pay close attention to dotting regulatory i’s and crossing compliance t’s.
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regulation sm

Compliance Raining on CUs’ Mortgage Parade

Mortgage demand grows at CUs, but so does the related compliance burden.
February 6, 2013
Patrick Totty
No Comments
It is an era of mixed blessings for CUs and consumers.
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Tools of the Trade

Identify the Signs of Financial Stress

Credit risk management tools help CUs make loans to high-risk members.
January 4, 2013
Patrick Totty
One Comment
CU's not doing credit risk management faces risks—either criticism from regulators or danger to the bottom line.
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Subprime Auto Loan Market Holds Promise

But be careful and don’t stray too far from your current membership base.
November 23, 2012
Patrick Totty
No Comments
'To do it right, credit unions need to hire experienced people to work with them on entering the subprime market.'
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Tools of the Trade

Mobile Offers Opportunities, Threats

Mobile services improve member satisfaction but raise new risks.
October 1, 2012
Patrick Totty
No Comments
How big are those risks? It’s hard to tell.
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CUs Snowed Under by Compliance Burden

Core processors help CUs dig out from under the regulatory avalanche.
September 1, 2012
Patrick Totty
No Comments
The pace of regulatory change in the credit union movement today is unprecedented.
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Human capital

Boost Returns on Your Human Capital

New performance-management and appraisal tools help CUs find staff with the right skills.
August 13, 2012
Patrick Totty
No Comments
Hiring, training, developing, and compensating employees accounts for 53% of expenditures at most companies.
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May Cover

Credit Union Magazine

• May digital edition

May 2013

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What's Popular

Popular Stories

Look into the Future of Finance

Finovate Highlights Industry's Best and Brightest

Scenes from FinovateSpring 2013

Gladwell: CUs are David to Banks’ Goliath

Lessons in Crisis Management from Sept. 11

Recent Discussion

In remembering Warren, the first thing I think of was his smile. He was a gentle, caring man who always thought of others first. I was honored to be a part of the MiOpportinidad project with Affinity Credit Union, Warren and Miriam. His hard work and dedication to that project was inspirational. Warren so deserves this award.

The author really understands the credit union philosophy and I really enjoyed the analogy of his bathroom remodel. The only thing missing was pictures of the finished bathroom! :)

Thank you Phillip for showing the differences between a Big Bank that is only looking to sell you products and a Credit Union that actually looks out for its members needs. Great article!

I love and give a standing ovation to Ron Kase and to other caring people just as much as those who passed away on 2012 like Warren Morrow at Des Moines Iowa. He worked hard for those who are under-served an under-represented, but wasn't mentioned in your magazine. It may be beneficial for the entire world to know about his accomplishments no for his benefit, obviously, but to increase the number of positive and caring people and to add members the CU. Just ask Coopera Consulting at Des Moines Iowa about Warren Morrow's legacy.

That’s right Lisa. The servicing rule would not require a credit union to create its own policies and procedures if all aspects of the servicing are delegated to a sub-servicer. However, remember that the credit union will have to conduct due diligence on the sub-servicer to make sure it is following the minimum requirements for policies and procedures. Unfortunately, even those credit unions that use a third party servicer will need to have a working knowledge of the CFPB’s servicing rule.

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