WASHINGTON, Penn.—Predicting that the typical CU business model won’t survive in the not-too-distant future, Chrome FCU is overhauling its branches to address what it says are consumers’ changing needs and growing competition from outside the financial services sector.
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BROOKFIELD, Wis.—Just how well can small CUs defend against growing cyberattacks, which one expert terms a “tidal wave” of trouble headed their way?
LAWRENCEVILLE, Ga.—Electric vehicles may save owners a lot of money on gas, but those savings may not be worth the extra sticker price.
GARBERVILLE, Calif.—Credit union offices across California appear to be safe from the wildfires raging across the state, but the same can’t be said for the homes owned by some members and CU staff.
DENVER—The Fourth Corner CU feels it is time someone besides regulators and the Federal Reserve make the call on whether a credit union chartered to serve the marijuana industry can open its doors.
ST. PETERSBURG, Fla.—Small merchants are expected to lag well behind major retailers and even regional stores in converting POS to EMV—which may impact the future of some mom-and-pop shops and loans made to them, asserts one expert.
ARVADA, Colo.—At the start of the year Partner Colorado CU introduced its marijuana banking program, a new business platform serving the pot industry in this state, and a program the CU plans to offer to FIs across the country.
ALPAHRETTA, Ga.—If new labor guidelines for overtime pay go into effect, one analyst said there is an important number for credit unions to consider when making salary decisions—as well as other issues that must now be considered.
WASHINGTON—Not much is being said about the possibility of NCUA making changes to the formula it uses for NCUSIF assessments, and experts are mixed on why all fronts are quiet on the topic now.
ST. PETERSBURG, Fla.—Community roots will help credit unions prosper in 2020, but the movement will have to make some adjustments to the function of branches, according to PSCU.