Last week, 700,000 Department of Defense civilian employees began taking once-a-week furlough days that will cut their pay by roughly 15%. How will the temporary pay cuts affect credit unions?
Two percent of FCUs are military-based but they represent 21% of FCU assets and may feel the pinch of federal furloughs.
Operation begun as credit union-focused Digital Insight in 1995 now gets third owner.
Somebody is winning. Somebody is losing. Just don’t expect an easy to decipher who will win the battle in this update on the credit union core systems war.
Credit union core systems are old, truly antique in computer terms, but they also seem to be immortal in most institutions.
Core processing systems can often do more than they're typically used for, but less than what's needed.
The announcement last month by Fiserv that it would acquire Open Solutions Inc. for roughly $1 billion, most of that in debt assumption, has sent some shivers through the credit union core processing world.
Intuit CEO touts new generation of field-leveling analytical tools.
An asset-liability management model makes a number of complex calculations for computing your credit union’s interest rate risk. The model’s results depend on the assumptions and whether the model was set up correctly to handle them.
New regulations that aim to benefit consumers have become such a burden for credit unions that the cost of compliance may hamper growth and bring changes in the products, services and convenience consumers want the most.