LAKE FOREST, Ill.—A new study that says it is the first of its kind reveals financial institutions have not made many recent changes to how they price their fees, a decision the study suggests hurts not only consumers but the institution’s bottom line as well.
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PALO ALTO, Calif.–Stanford FCU was looking to offer its members a “unique experience” when it partnered with Google in a pilot of a new checking product in 2019. But even with Google now ending the pilot, the credit union it has gained a great deal from the process of working with the tech giant.
METAIRIE, La.—Providing financial counseling to the underserved is nothing new for credit unions, but using artificial intelligence to do so more effectively certainly is, says Judy De Lucca.
ST. PETERSBURG, Fla.—It isn’t just the approaching holiday shopping season that should have credit unions paying attention to prepaid plastic, according to one expert, who is reminding consumers are turning in large numbers to the product.
LAKE FOREST, Ill.— The coronavirus pandemic has also changed consumer behavior when it comes to using overdrafts, and credit union leaders must change their thinking in response, according to one expert.
SAN ANTONIO—To effectively serve military members, credit union staff must do more than put themselves in servicemembers’ boots—they have to become a greater part of the military culture and speak their language, says Danny Sanchez.
ANN ARBOR, Mich.–It’s now become clear that what was once considered an alarming finding—credit unions falling behind banks in a highly respected national consumer satisfaction survey—is an established trend, and it may not end soon if CUs can’t improve their digital presence, according to one expert.
NEW YORK–For all their accomplishments and service to members, credit unions have also had their fair share of management mistakes and poor decisions—but they are nowhere to be found when it comes to the worst business decisions of all time.
SUITLAND, Md.—One credit union that serves the military took extra steps to get closer to its members during the pandemic—including blanket loan payment deferrals--to help them financially survive the health crisis, and has now been recognized for its efforts.
LAKE FOREST, Ill.—The overdraft market has changed, which means credit unions must adapt their OD policies if they expect to keep members—especially young members—using their product, says one economist.