IRVINE, Calif.—Banks are elbowing in on credit union auto loan market share and a big reason is human resources, says one expert, who is additionally urging CUs to prepare now for a shift in how used cars are bought and sold.
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DALLAS—With margins continuing to shrink, a proposal from NCUA that would make hedging simpler for credit unions is being called a “big deal” by one analyst.
SPOKANE, Wash.–STCU here recently did something it has never done before: it paused one morning, set aside everyday business and checked in with all of its employees via videoconference—not only to see how everyone has been faring during the pandemic but also to pass along some needed reassurance.
LAKEWOOD, Colo.—Twelve percent of credit unions in a recent survey indicated they will cancel existing branch-building plans as a result of the pandemic. That is just one of many insights gleaned by a survey of CU leaders across the country about what their plans are for branches moving forward.
LAKE FOREST, Ill.—The COVID-19 pandemic is driving overdraft prices lower, according to third quarter data, which also show banks are beginning to offer better OD prices than credit unions.
TALLAHASSEE, Fla.—Extremely close communication with members and a greater emphasis on data analytics are the keys to collections during the COVID-19 crisis, says United Solutions.
JESUP, Ga.—Another credit union has allegedly been hit with a ransomware attack, and one security expert is warning similar attacks targeting smaller organizations are showing no signs of slowing down.
MADISON, Wis.–It may be counterintuitive to many in credit unions for whom “service” is defined as in-person, face-to-face interaction, but one expert is cautioning the rapidly approaching future is all about giving members tools for “self-service” as well as understanding there is a new “differentiator” other than service for CUs.
LAKE FOREST, Ill. – Credit unions are at risk of losing those government stimulus funds that have flowed in, according to one economist, who is not just predicting deposit rates will begin rising soon but is also offering some suggested strategies.
DES MOINES, Iowa—As credit unions hustled to assist members and keep their teams safe as the pandemic struck, one analysis reveals there were some big gaps in CU business continuity plans related to a host of issues ranging from third parties to the testing of plans to remote systems availability and more.