The brain of every credit union is its core computer system–the tabulation of every transaction and thus the essential record. But voices increasingly are heard that it is time for a substantial reevaluation of those core systems.
Accept this reality: How corporate credit unions were will not be again, at least not soon.
There may be no more contentious question in the typically placid world of credit unions than this: How many corporate credit unions are needed to keep the system smoothly functioning? And that leads to the allied question: Do we need any corporates at all?
Failure happens, often again and again. When the nation was beset with a huge wave of savings and loan failures in the late 1980s–747 institutions were shuttered by regulators–lawmakers and regulators assured the public it had taken steps to prevent this from happening again. And then the recent more expensive...
BECU went live on March 20 with person-to-person payments and since then has moved approximately $700,000 for about 5,000 newly enrolled users.
Is the death knell sounding for branches? Can we expect more closings or will there be a surge in branching taking advantage of the current economic environment?