"We compensate board members more out of a sense of fairness than anything else,” explained Lin Hodges, president/CEO of Associated Credit Union of Norcross, Ga.
NEW YORK — Although competition for consumers’ wallets is more intense than ever, credit unions are in a good position to compete if they use data they already own to become more member centric, said John Lass, senior vice president of Strategy and Business Development for CUNA Mutual Group during...
When the tiny Saguache County Credit Union, plagued by losses for several years, was finally liquidated last spring, its 3,185 members faced not having another financial institution in the area to serve them.
Making good on its word to track concerns such as questionable interest rates and discrimination, the Consumer Financial Protection Bureau recently sent a stern message that it is monitoring auto lenders’ activities.
Making good on a promise it announced this past spring, CO-OP Financial Services is rolling out a new logo and branding for shared branching.
NEW YORK — University of Louisville Coach Rick Pitino and a group of uncoordinated 12-year-old girls know how credit unions could conquer big banks in the financial marketplace. Run the full-court press.
If James Marshall has his way, in the next few years, The Cooperative Trust will not only be self-sustaining but also known as the resource for those under age 35, not just in the U.S. but worldwide.
When the business day began on July 1, the $1.8 billion HarborOne Credit Union in Brockton, Mass., one of the oldest credit unions in the country, opened its doors as HarborOne Bank.
After a quick two-day retrial before re a judge, former United Food and Commercial Workers Local 1776 FCU CEO Anne L. Clyburn was convicted June 28 on 12 counts that she used credit union checks to pay personal dental bills.
Senate Finance Committee Chairman Max Baucus and Ranking Member Orrin Hatch have sent a letter to their colleague stating that they want to start with a clean slate on tax reform. It would be excellent if that really happens. Programs would have to prove that they provide value in order...
When credit union advocates battled three bills in the Oregon legislature, Advantis Credit Union put on its combat gear.
In the constant bid for growth, it may help to work on building and reinforcing a strong foundation before chasing the next new thing.
I spend a lot of time in strategic planning sessions, and growth is almost always the dominant focus. A majority of our nation’s credit unions are considered small, with less than $50 million, and the sad reality is that most in this group are having a difficult time with membership,...
Branding. It’s a hot buzz word and topic in credit union circles these days. Credit unions spend a ton of time and resources on their brand’s look, design, graphics and marketing. But branding is more than your strategy and look. Branding is also about your people.
Is loan regime split dollar snake oil or liquid gold? How is a board to know? If it works, LRSD is a powerful tool for compensating key executives and preserving credit union assets. If it doesn’t work, the costs to the credit union and the participating executives are high.
First Financial Federal Credit Union, Wall, N.J., has hired Deborah Downie as director of business development. Downie brings to First Financial over 21 years of experience at various Wall Street firms in corporate lending and institutional investing. Prior to her employment with the credit union, she founded the Two Rivers Women...
It has truly been an honor to serve as NAFCU’s president and CEO for 13½ years. Before I leave, I’d like to share a few thoughts about where our industry has been and where it is likely headed.
NEW YORK — Indirect auto lending and the growth it brings isn’t a new topic, but a July 1 breakout session at CUNA’s America’s Credit Union Conference utilized relatively new technology that allowed audience members to voice their opinions. The debate, which was moderated by CUNA Mutual’s David Polet, included...