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To better plan and allocate their own resources, credit unions should begin implementing the new expected loss method now.
Evaluate whether your technology meets the needs of business members and your CU's strategies to provide superior member service.
Abrigo details three ways CUs can be ready for what's expected to be a crush of small business members seeking help.
CUs should develop credit analysts to be curious and introspective, and have perspective and emotional intelligence.
A strong credit risk review function is not only important for making examiners happy - here's how to implement one.
Here's what you can do to attract more small business members to your credit union.
It's possible, but in any case, CUs must be prepared to document and support why their allowance levels are what they are.
CUs must familiarize themselves with effective pricing models and how changes such as CECL may impact pricing decisions.
When routine data entry tasks are automated, lenders have more time to provide a personal level of service.
Sageworks details three areas of data quality that credit unions should focus on.
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here's how to implement one.", "body": null }, { "uri": "/2019/08/23/why-some-small-business-borrowers-bypass-credit-unions/", "title": "Why Some Small Business Borrowers Bypass Credit Unions", "byline": "Mary Ellen Biery", "kicker": "Expert Opinion", "prettyDate": "August 23, 2019", "timeToRead": "5 minute", "image": { "uri": "", "width": "", "height": "" }, "authors": [ { "webUrl": "/author/profile/mary-ellen-biery/", "name": "Mary Ellen Biery" } ], "kickerNode": [ { "uri": "/expert-opinion/", "sectionName": "Expert Opinion" } ], "summary": "Here's what you can do to attract more small business members to your credit union.", "body": null }, { "uri": "/2018/10/29/can-a-credit-unions-allowance-be-lower-under-cecl/", "title": "Can a Credit Union's Allowance Be Lower Under CECL?", "byline": "Mary Ellen Biery", "kicker": "Expert Opinion", "prettyDate": "October 29, 2018", "timeToRead": "5 minute", "image": { "uri": "https://images.cutimes.com/contrib/content/uploads/sites/413/2018/03/accounting-specialist-crop-600x338.jpg", "width": "600", "height": "338" }, "authors": [ { "webUrl": "/author/profile/mary-ellen-biery/", "name": "Mary Ellen Biery" } ], "kickerNode": [ { "uri": "/expert-opinion/", "sectionName": "Expert Opinion" } ], "summary": "It's possible, but in any case, CUs must be prepared to document and support why their allowance levels are what they are.", "body": null }, { "uri": "/2018/08/09/why-credit-risk-rating-systems-matter-for-your-credit-union/", "title": "Why Credit Risk Rating Systems Matter for Your Credit Union", "byline": "Mary Ellen Biery", "kicker": "Expert Opinion", "prettyDate": "August 09, 2018", "timeToRead": "3 minute", "image": { "uri": "", "width": "", "height": "" }, "authors": [ { "webUrl": "/author/profile/mary-ellen-biery/", "name": "Mary Ellen Biery" } ], "kickerNode": [ { "uri": "/expert-opinion/", "sectionName": "Expert Opinion" } ], "summary": "CUs must familiarize themselves with effective pricing models and how changes such as CECL may impact pricing decisions.", "body": null }, { "uri": "/2018/07/13/human-touch-high-tech-business-loan-growth/", "title": "Human Touch + High Tech = Business Loan Growth", "byline": "Mary Ellen Biery", "kicker": "Expert Opinion", "prettyDate": "July 13, 2018", "timeToRead": "4 minute", "image": { "uri": "https://images.cutimes.com/contrib/content/uploads/sites/413/2018/07/Oped-Chart-1-e1530802325647.jpg", "width": "650", "height": "429" }, "authors": [ { "webUrl": "/author/profile/mary-ellen-biery/", "name": "Mary Ellen Biery" } ], "kickerNode": [ { "uri": "/expert-opinion/", "sectionName": "Expert Opinion" } ], "summary": "When routine data entry tasks are automated, lenders have more time to provide a personal level of service.", "body": null }, { "uri": "/2018/05/25/cecl-prep-understanding-loan-level-data-requirements/", "title": "CECL Prep: Understanding Loan Level Data Requirements", "byline": "Mary Ellen Biery", "kicker": "Expert Opinion", "prettyDate": "May 25, 2018", "timeToRead": "4 minute", "image": { "uri": "https://images.cutimes.com/contrib/content/uploads/sites/413/2018/03/accounting-specialist-crop-600x338.jpg", "width": "600", "height": "338" }, "authors": [ { "webUrl": "/author/profile/mary-ellen-biery/", "name": "Mary Ellen Biery" } ], "kickerNode": [ { "uri": "/expert-opinion/", "sectionName": "Expert Opinion" } ], "summary": "Sageworks details three areas of data quality that credit unions should focus on.", "body": null } ] } }
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Download ResourceFrom Elan Credit Card
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Download ResourceFrom Elan Credit Card
Young adults are the future of your credit union. From college to home-buying, learn why credit cards are key to winning the loyalty of Gen Z and millennials.
Download ResourceFrom Elan Credit Card
With the current economic environment and rise in interest rates, credit unions may find the credit card market increasingly complex to operate internally. Learn why shifting from insourcing to outsourcing your credit card program can benefit your credit union.
Download ResourceFrom Elan Credit Card
A credit union’s ability to deliver the right products and services that best meet members’ daily needs is the most important factor in creating a superior member experience.
Download Resource