WAIMEA, Hawaii–Just as the only way to truly make authentic gumbo requires only the right ingredients with nothing left out, so too does effectively creating a culture of DEI and seeing the resulting bottom-line improvements, according to one person, who told an audience here that future audiences will need to look much different than them.
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LINCOLN, Neb.—One attorney believes the decision by the Nebraska Department of Banking and Finance to block the sale of Premier Bank to GreenState CU will be overturned in district court here, and that the original decision “only shoots Nebraska state-chartered banks in the foot.”
LAKE TAPPS, Wash.—As the number of credit unions eliminating or reducing overdraft fees continues to rise, will the trend also lead to more small credit unions merging out?
SAN CARLOS, Calif.—One payments expert says if credit unions don't study what happened with the checking account Google had planned to offer with a group of financial institutions, they will face some of the same issues the proposed Plex account encountered as they seek to get more aggressive in the in the digital products space.
MADISON, Wis.—As Americans prepare to mark Martin Luther King Day, which now recognizes not just Dr. King’s legacy but also the importance of diversity across the nation, a new study reveals effective DEI practices don't just make a credit union feel better about itself, they drive business results.
LOMBARD, Ill.—The biggest challenge for members and would-be members in doing business with many credit unions is there is just too much “friction” in the process, says one expert, who noted that CUs not only must respond to banks that have been working and investing diligently to ensure seamless customer interactions, but also to a generational shift.
LAKE FOREST, Ill.—The nation’s second-largest bank, the $2.16-trillion Bank of America, announced it has lowered its OD fee to $10 per transaction from $35 in a move one expert believes will be followed by even more financial institutions either dropping or eliminating their overdraft charges.
ST. PETERSBURG, Fla.—Providing members with a personalized experience when they connect with the credit union or any of its services, such as payment cards, is no longer a “nice to have,” says Chuck Fagan.
LAKE FOREST, Ill.–The “fabric of financial institutions” will continue to change in 2022, according to one person, who said credit union leaders must be prepared for new fintech competition, what rising oil prices will mean, and even a change in the marketplace not seen since the 19th century.
GAINESVILLE, Fla.—Travel-related credit card rewards just keep getting more attractive, and credit unions need to find ways to respond or risk losing card spend, experts say.