Free checking is dying.
THE 'tude
In February, the U.S. Government Accountability Office (GAO) published a report to Congress based on reports of businesses and residents of Southwest border communities whose financial services were terminated—and in some cases whole branches closed—due to the perceived Bank Secrecy Act risk.
Consumers and members are approaching financial services with an Amazon.com mindset, and I don’t think that anyone doubts the projection that mobile and digital methods are the primary way institutions will interact with members in the future.
How nervous are your direct reports to ever make a mistake? What is your reaction? Does your credit union or organization prefer to avoid innovation rather than have a failure?
Millennials are destined to change the world as we know it…And it’s already begun.
The board of the National Credit Union Administration (NCUA) is headed towards again being at full strength with its compliment of three members for the first time since April 30, 2016
Joining lunch buffet lines and vendor hall putting contests in the Pantheon of CU conference must-haves is the anthem sung by every attendee about exceptional member service.
Just a few years ago, industry publications were abuzz with talk of disruption.
Credit union call centers are always looking for ways to deliver the best possible member service.
Increased competition, emerging CECL standards, and shifting member demographics are making it more difficult to win.