PLANO, Texas—Dick Ensweiler is well known for his long career in credit unions, especially for his passion for the business. What may be less well known is that passion can also be inherited.
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MIAMI—Consumers have been on a credit card “spending spree” in 2023, according to one analyst, who is predicting that pace may be sustainable in 2024 but certainly will not be in 2025 when the market could be “headed for trouble.”
BANNOCKBURN, Ill.–Artificial intelligence, and specifically so-called “conversational AI,” has come along at just the right time for one credit union that has joined a growing number of financial institutions using the tool to take the load off time- and resource-challenged call centers.
LAWRENCEVILLE, Ga.—Will the United Auto Workers (UAW) strike slam the brakes on what appears to be a return to more normal used car values?
WASHINGTON–Who’s liable if a credit union’s AI-based decision engine makes a decision on its own, outside parameters the CU put in place? What are the implications of the “arms race” taking place in AI? How can Congress “not screw this up?” Those questions and others were at center of discussion in the Senate as the government—and industry—race to get a framework in place around the rapid developments in artificial intelligence.
SCOTTSDALE, Ariz.—With credit unions having worked diligently to overhaul point-of-sale delivery systems, one analyst says it’s now time to shift the focus to a different point.
CHARLESTON, W.Va.—Is ChatGPT the answer for small, short-staffed, overworked credit unions?
ST. PETERSBURG, Fla.—If credit unions look closely at their payments data they will likely be “shocked” at the number using buy now, pay later (BNPL), according to PSCU, which believes that in the near future BNPL will become table stakes in a CU’s payments mix.
SAN FRANCISCO—The day is rapidly approaching when credit union staff won’t just be working closely with each other, they’ll be handing off work to a new set of “employees”—AI “agents.”
SUNNYVALE, Calif.–With FedNow launched, one credit union that is already part of the Federal Reserve’s new 24x7x365 real-time payments network is stressing it’s even more critical to get members involved in the fraud fight.