The post Hurricane Sandy lessons learned keep coming in as it becomes plain that some credit unions had woefully inadequate disaster recovery and business continuity plans, but other institutions kept operating despite the devastation that hit much of New Jersey and New York City.
One loud take-away from Sandy: Every credit union needs a disaster recovery plan. Check out this preview from next week's print edition.
Credit union members are increasingly demanding more online interaction from their institutions. The request is forcing credit unions to adjust websites and self-service portals to accommodate members.
Opportunity to build enduring relationships by leveraging the mobile channel is within reach. But credit unions must act now, before their members direct their payments elsewhere.
Core processor says its widely used Episys system does not permit share drafts to be posted in order they are received.
CUSO@Work, a division of CU*South in Fairhope, Ala., said its new Collections by Objective team has gone to work at the $36 million Flag Credit Union in Tallahassee, Fla.
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.
Tallahassee credit union opts for new service from CU*South in CUSO's first collections work outside core processing base.
Some facts behind the analytical Holy Grail that is Big Data, and why real-time analysis is so fundamental to measuring levels of customer satisfaction.
As the payment industry begins to move toward replacing magnetic stripe cards with cards that use embedded smart chips, credit unions and other card issuers will have to eventually decide whether they will issue cards that use personal identification numbers or signatures to validate transactions.