LAKE FOREST, Ill.–Is the much anticipated, long-predicted cashless society coming into view? It’s getting closer. New data show that for the first time in U.S. history debit card transactions have exceeded cash transactions as the number-one payment method.
SAN FRANCISCO–There’s been a change in the world when it comes to sexual harassment in the workplace, and there’s no going back, according to one expert.
SAN FRANCISCO–Is the whole concept of field of membership for credit unions now “antiquated?” One person told credit unions here she believes that’s the case, while also sharing a number of other interesting developments and trends when it comes to FOM.
WASHINGTON—To drive greater focus on the needs of the military community in Washington, the Defense Credit Union Council has formed the Military Advocacy Committee.
BOSTON—As credit unions compete more aggressively for small business loans, one expert believes many are moving too quickly and not paying attention to risk from fraudsters who are increasing their attacks in the space.
TAMPA, Fla.—Global fifth-generation cellular wireless, better known as 5G, is going to have a big impact within financial services–including in one way that will be “counterintuitive” to many CUs, according to the experts.
CHATTANOOGA, Tenn.—What John Merritt likes about the set of new, edgy TV commercials Tennessee Valley FCU has created is consumers can’t get the ads’ jingles out of their heads.
MADISON, Wis.—A Jetsons-like age with flying cars may be a long way off, but the emergence of autonomous vehicles and new types of transportation services is not—and it’s changing consumers’ car-buying habits, the auto lending market and even the family garage.
ALEXANDRIA, Va.—NCUA may consider a new net worth ratio that will mirror the formulas in place at the banking regulators, similar to the community bank leverage ratio, according to the agency’s chairman.
PARADISE ISLAND, Bahamas–Age. It’s never off the table as a point of debate and even charges of bias within credit unions. The desired demographic is younger. Most board members are too old. C-suite execs don’t respect younger professionals. Younger professionals refuse to “pay their dues.” But so much of that misses the point, say five people who shared unique perspectives on age here.