The craft industry-cooperative movement can be traced back tothe mid-1700s and the beginning of the Industrial Revolution, when local craftsman found themselves with little access to markets and financial services as a result of the newly created industrial processes.
THE 'tude
I recently read an article in American Banker titled, “Merge or die: Small credit unions struggle to stay afloat.” What a click bait headline and a patently false blanket statement!
If you want the family-friendly version of what Sue Mitchell is seeking to accomplish in credit unions, the GSD is all about Getting Stuff Done.
The NCUA and Community Development Financial Institutions Fund recently announced that the NCUA’s streamlined certification process would no longer be supported.
As the books closed on 2021, the industry was treated to the traditional flurry of credit union special dividend awards announcements.
In a place between simply existing and intentional results, I had balanced my thoughts and actions. I was not who I knew I should be.
As I was placing my bag in the trunk of my Uber at the San Antonio airport last week, I couldn’t help noting the driver's license tag began with “CU.” Occupational hazard, I suppose, but I immediately wondered if he was a member or had worked at a credit union, or, who knows, maybe a CU had financed the car.
The phrase “digital transformation” itself is a misnomer, as transformation implies there is an end. For credit unions and community banks, however, that can never be true if they want their digital experience to remain competitive.
The new RBC/CCULR rule must meet two administrative procedural tests, as any other rule, when NCUA claims to be implementing a law. The first was outlined in an earlier column: Was there substantial objective evidence presented to justify the rule?
Just what will NCUA be looking at this year when it comes to overdraft programs? What are credit unions similar to one popular Bible story? Will agency examiners be poking around with consumer protection questions this year?