SACRAMENTO, Calif.—Credit unions in all states should be paying close attention to the California Consumer Privacy Act (CCPA) that took effect earlier this month, as it’s likely to lead to many CUs investing significant time and money addressing the data privacy of their members, one analyst is stressing.
NEW YORK—As a member of the LGBTQ community, Myles Meyers knows what it’s like to be treated in a different manner by a financial institution.
O’FALLON, Mo.–Instead of spending dollars on traditional marketing, one CU is experimenting with a new way to sway consumers—paying them to read their materials.
ROYAL-OAK, Mich.—When a credit union faces a lawsuit over its overdraft practices, should it fight or settle?
WASHINGTON—The recent passage of the 2020 National Defense Authorization Act (NDAA) was not only a victory for CUs on military bases, many may not realize it has the potential to be a victory for all credit unions, asserts Tony Hernandez.
ST. PETERSBURG, Fla.—Yes, it’s risky to even be a fast follower in issuing contactless plastic, but Chuck Fagan has a warning for credit unions: Get moving or lose cardholders.
SCOTTSDALE, Ariz.—While a recent study shows that for the first time American consumers have rated service provided by credit unions below that provided by banks, one analyst believes it’s not yet a tipping point–but is certainly a “big red warning sign” indicating how consumer definitions around service are changing.
LOMBARD, Ill.—Are credit unions the frog in a slowly boiling pot of water when it comes to their attention to service? One analyst believes that may just be the case.
BOSTON—Credit unions have a vast trove of member data, but if they can’t find a way to effectively consolidate it they will fall behind banks in utilizing that data—and that means not just fewer cross sales, but poorer member service than their for-profit competitors, too. And that’s especially true in a digital environment, according to one expert.
HUNTSVILLE, Ala.—One credit union didn’t really believe tractor loans were much of a business line—then it got a “billion-dollar” wakeup call.
