PHILADELPHIA—Looking to speed up how quickly a new branch becomes profitable? One CU claims it has come up with a new way to do just that, and it plans to sell the concept to other credit unions.
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WASHINGTON—While new Military Lending Act (MLA) guidance no longer discriminates against servicemembers and makes it easier to obtain GAP insurance, it won’t make up for the harm previous MLA guidance caused over the last 2.5 years, according to the Defense Credit Union Council (DCUC).
CINCINNATI—The COVID-19 crisis is having a big impact on leasing. Swapalease.com is reporting a 66% increase in customers seeking to exit a lease in April—and that’s right after leasing reached record levels to start the year. But the reason some people are looking to get out of a lease may not be the reason may assume.
LAKE FOREST, Ill.—Fee income at financial institutions is down across the board, with interchange revenue taking a big hit, and the experts are recommending credit unions adjust their strategies—now.
MADISON, Wis.—Orders that people wear masks in public to help reduce the spread of coronavirus have had the reverse effect in one instance: spreading the risk of robberies and attempted robberies.
TYSONS, Va.—Carefully monitoring member demand, and meeting them in their channel of choice, is how the nation’s third-largest credit union has addressed whether or not to close lobbies—and then when to reopen them.
CINCINNATI—As CU leaders are learning or about to learn, there’s a lot more to reopening facilities than “just reopening,” with many getting a fast education in ventilation and filtration, the benefits of copper, UV lights, and the exposure risks to employees from cleaning chemicals.
MADISON, Wis.–It’s the question CUNA Mutual Group reports it has been getting from credit unions more than any other—what do we need to do to re-open our branches? It’s a complex question, but as one company expert reminded, in the race to open branches, it’s not a race a credit union has to win.
MADISON, Wis.–Reopening branches involves far more than disinfectant and social distancing practices—credit unions are having to now consider everything from the risk of employee lawsuits to no more “entry-level” staff to whether an office chair should swivel.
ROYAL OAK, Mich.—The coronavirus pandemic has caused a number of credit unions considering buying a bank to hit the pause button, according to Michael Bell, who believes that coming out of the health crisis CUs should see a bigger opportunity to buy bank branches.