Credit unions that want to really succeed at working with low-income members and communities need to embrace doing it, advocates suggested.
The NCUA approves 19 mergers in December. At this rate, only 5,400 credit unions will remain in 2018.
Small credit unions say they've experienced big noninterest income gains after launching relatively traditional services such as courtesy pay and gap coverage on auto loans. Our experts say larger credit unions should consider noninterest income opportunities in mergers and acquisitions, and debit rewards programs.
Noninterest income, both expected and unexpected, can make a big difference for small credit unions. For two relatively new CEOs and one industry veteran all managing credit unions with less than $50 million in assets, single activities provided a real boost to their respective bottom lines.
Market developments and new regulations are challenging credit unions to find new sources of noninterest income in order to grow. While it can be difficult to thrive or even survive in an unstable environment, change also brings opportunity. One option for credit unions is using strategic mergers and acquisitions. The...
Face the camera. When Filene asked credit unions a year ago how they were planning to increase revenue in 2014, the list we got contained all the usual suspects: lending, checking accounts, mortgages. Does this sound like you?
Checking accounts still command loyalty and still have revenue benefits.
The NCUA should attempt to update its field of membership rules before taking FOM to Capitol Hill.
As new developments in mobile technology continue to penetrate users’ lives, financial institutions have a strong advantage over non-bank services like Apple, Mint, Square and PayPal in the battle for mobile users.
Larry Fazio's commentary (“Revised RBC Proposal Reflects Lessons Learned,” Jan. 22, 2015, CU Times) cites the financial crisis as the catalyst for the NCUA's second risk-based capital proposal, stating that many of the failures would have been prevented in part if this new rule had been in place.
We respectfully disagree with the assertion made about whether it's worthwhile for credit union industry resources to be used for finding a “legal way out of risk-based capital” (“RBC Legal Challenge Is a Waste,” Jan. 28, 2015, CU Times).
A new survey showed that most credit unions rate their mobile banking solutions from above average to good, but short of great.
As credit unions across the country gear up for another year of new marketing campaigns, CU Times asked experts what the top marketing trends in the credit union industry will be in 2015. The experts also offered marketing advice, tips and ideas.
NAFCU Director of Research/Chief Economist Curt Long estimated the NCUA's revised risk-based capital ratio proposal would cost the credit union system a total of $760 million.
The $6 billion Suncoast Credit Union and Florida Southwestern State College have announced construction on the school's new athletic facility, the Suncoast Credit Union Arena, scheduled to break ground in mid-2015.
Consumer data firm Equifax said auto loans made up about one-third of all consumer non-mortgage debt in the U.S.
Tom Ridge, the first U.S. Department of Homeland Security Secretary, will deliver a keynote address at CUNA's Governmental Affairs Conference in March.
A new white paper released by the Merchant Advisory Group revealed the Federal Reserve's debit interchange regulation has kept debt interchange rates high at the same time that costs to process debit transactions have been falling.
The $521 million IC Federal Credit Union in Fitchburg, Mass., announced Brenda Bujnevicie as SVP of mortgage lending & loss mitigation; Christine Lane was promoted to SVP of risk & budget; Bruce Mathieu was promoted to SVP of retail & consumer lending; Philip Richards is now SVP of operations &...