What might look like a typical thumb drive to members of Northern Lights Federal Credit Union may actually be what regulators consider a top-tier secure and compliant way to access the Internet for online banking and shopping.
The plight and protection of small U.S. credit unions came in for new scrutiny last week following a controversial think tank study by Celent, the Boston research firm, finding that CUs under $50 million are fast disappearing under the weight of tech products, competition, compliance and their own “inefficiencies.”
Study saw demise of small CUs approaching.
Think firm finds technology, competition working to shrink population of smaller credit unions.
The $1.6 billion Lansing-based credit union merging with $7 million Father Kramer Credit Union of Center Line.
At my ATM, a message displays: “Quinton, how will you pay for your daughter’s college education in seven years?”
Virginia CU has only branch on campus at James Madison University.
Let's face it; these are tough times to be a strategic leader at a credit union. It makes you wonder why you got into this business in the first place. But we all know it comes down to one word: Passion.
Thomas Edison once said that most people miss a good opportunity because "it is dressed in overalls and looks like work." Sage advice from a great man. But many times, seizing a good opportunity isn't that hard at all.
Connect Financial Software Solutions of Salt Lake City said it has signed a multiyear agreement to provide online banking services to the $333 million BrightStar Credit Union of Fort Lauderdale, Fla.