TORONTO – Some credit unions aren’t doing all their financial analyses before pricing their products. In fact, some do nothing but react to competitor pricing. CUNA Mutual says it’s going to help take the guesswork out of product pricing with its new I-Price solution. CUNA Mutual partnered with Farin & Associates, Madison, Wis., to bring the solution to CUs. It ensures that CUs have the most accurate, and up-to-date data to support their loan and deposit pricing decisions. “Fundamentally, price decision-making hasn’t changed in 30 years. Pricing has been off the competition. All it takes is one competitor that doesn’t know how to price and it can affect the bottomlines of everyone else,” said Tom Farin, developer of the I-Price solution which is being used by about a dozen CUs throughout the country. The software sifts through various market data fees and downloads market interest rates and competitive loan and deposit survey data from Web sites, giving CU officials a complete pricing picture of the market before changing its pricing.
The disruption could introduce new risks into the system by compelling banks to loosen lending standards and take on greater risk.
The CDFI awards support to developers, renters and buyers.
Without email authentication standards, hackers don’t need to compromise accounts to send emails that impersonate FIs.
Sponsored by Epic River
Learn how your credit union can onboard new sources of deposit revenue from hospital systems and healthcare providers in your community with the strategy outlined in this white paper.
Sponsored by Finastra
Taking the first step towards a complete digital mortgage experience can be the hardest. Learn six strategic steps to start your credit union’s journey today.
Credit Union Times
Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!
- Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
- Exclusive discounts on ALM and Credit Union Times events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.