Commentary

With all the bad publicity generated about the banking industry, I expected the results of a recent poll I posted on LinkedIn to be vastly different. The poll consisted of only one statement with two possible choices:

The Golden 1 Credit Union's data center experienced a complete loss of power last February. This resulted in a hard crash of the mainframe system as well as all networks and other in-house systems.

Nothing is more unsettling than an abrupt and rapid change in your paradigm. Such a change creates the need to rethink everything.

What does it take to lower delinquencies? Today's economic climate challenges credit unions to practice early interventions and maintain a proactive attitude toward preventing growing defaults.

In these unprecedented economic times, there are really only two ways to deal with this financial crisis: increase revenues or cut operating expenses.

Jeffrey Pfeffer, a Stanford professor and author, points out that Detroit automakers have pandered to Wall Street rather than listen to their customers,

There has never been a more appropriate time for all financial institutions, particularly CUs,

Credit unions feel as if they are being hit in all directions. From the overall economic downturn to the corporate credit union crisis to the mortgage lending mess,