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Articles by Patrick Totty
Tools of the Trade
Mobile Offers Opportunities, Threats
Mobile services improve member satisfaction but raise new risks.
October 1, 2012
How big are those risks? It’s hard to tell.
CUs Snowed Under by Compliance Burden
Core processors help CUs dig out from under the regulatory avalanche.
September 1, 2012
The pace of regulatory change in the credit union movement today is unprecedented.
Boost Returns on Your Human Capital
New performance-management and appraisal tools help CUs find staff with the right skills.
August 13, 2012
Hiring, training, developing, and compensating employees accounts for 53% of expenditures at most companies.
Help Members Navigate Investment Waters
Revenue from member investment programs helps CUs counteract lower interest income.
July 24, 2012
Members crave unbiased information from an institution they trust.
ATMs, Kiosks Continue to Evolve
Technology gives CUs the edge in delivery systems and marketing.
July 1, 2012
The trend in ATM design is toward a higher level of predictive analytics and the ability to feed real-time information to the cloud.
Durbin Amendment Shakes Up Debit Rewards
CUs reshape loyalty programs in anticipation of lower interchange fee income.
May 15, 2012
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.
A Balance Sheet Balancing Act
ALM tools help CUs determine which loans best fit their balance sheets.
April 11, 2012
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?”
Compliance: The Consumer Is King
Expect more scrutiny on fair lending and other consumer-focused issues.
March 11, 2012
CUs can expect to face three major regulatory compliance issues this year: safety and soundness, fair lending, and Unfair Deceptive Abusive Acts and Practices.
Taking Care of Business Cards
Commercial credit cards provide access to new revenue opportunities.
February 7, 2012
CUs have a history with consumer credit cards, and many are expanding into business credit card services with a minimum of pain and fuss.
Tools of the Trade
CUs Navigate the Mortgage Reg Maze
Impending regulations are ‘more fast-track than ever before.’
January 4, 2012
CUs face a jumble of new mortgage regulations in 2012.
Credit Union Magazine
October 2014 digital edition
Apple Pay Will ‘Chew Into’ Interchange Revenue
CUNA Tech/OpSS Conference Concludes
Sievewright: Buckle In for a Transformative Decade
Three Components to Meaningful Conversations
Illuminate the Frequency of Fraud
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
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