MADISON, Wis.—One economist is advising credit unions to begin closely monitoring deposits for outflows and to consider new savings products and pricing to fuel loan demand in the next few years as rates rise.
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ST. PETERSBURG, Fla.—Just as cyber-threats are changing and evolving into new types of attacks, CUs will also need to change how they think about defending member data.
SAN FRANCISCO–“Gamification” can be an effective way to create incentives for consumers to adopt more secure habits when working online, according to a new analysis.
CHICAGO—The math behind branch banking—at least based on how many financial institutions currently run their bricks-and-mortar networks–doesn’t work, contends one CEO whose credit union relies heavily on a remote delivery model.
SANTA ANA, Calif.—Bill Cheney says the close bond SchoolsFirst FCU has formed with its members over the last 81 years has not faded even as the credit union has grown to more than $11 billion in assets—and that is the key reason SchoolsFirst was ranked No. 1 for service in a recent national survey.
LOS ANGELES—That the minimum wage is rising across the country—sharply in some cities—isn’t in doubt. What’s less certain, however, is that smaller credit unions are going to have the biggest challenges in responding to the increased wage demands, and that there could be fallout for loans to small businesses, as well.
FARMERS BRANCH, Texas–A law that will go into effect in this state allowing the open carry and concealed carry of handguns has credit unions here scrambling to respond with new policies, and to ensure any signs they post are in compliance with specific rules.
WASHINGTON, Penn.—Chrome FCU will soon introduce a “small business incubator” at its main office that is to function as a meeting space where local entrepreneurs can share ideas, work and get to know the credit union.
TAMPA, Fla.—As the year 2020 approaches, credit unions will likely need to institute more relationship pricing and fees to support existing free services, as many new competitors will challenge current revenue structures, predicts CSCU.
NEWPORT NEWS, Va.—Following sweeping changes to its lending practices—including adding an 8% salary bonus incentive for staff—Langley FCU doubled its loan portfolio in the last two-and-a-half years.