MIAMI BEACH, Fla./Ft. LAUDERDALE, Fla.–Two separate credit union audiences meeting just 30 miles apart heard from different experts–a chef famous for feeding people after disasters and an author who sees a Flintstones-like advantage for CUs in a Jetsons world–who shared similar, outside perspectives on what CUs need to be doing.
MIAMI BEACH, Fla.–In the credit union business, the focus is overwhelmingly on the word “credit. But that’s the wrong word in the name on which to focus, according to one person, who was outspoken in challenging all kinds of other traditional assumptions, as well including why CUs should think “small,” why the marketing funnel should be turned upside down, what it means to lead, and more.
TAMPA, Fla.—There are many concerns among credit unions when it comes to the new CECL rules, and the biggest may well be CUs reacting by unnecessarily tightening lending standards to adjust to the new accounting rule, according to Bill Hampel.
LAKELAND, Fla.—The credit union that just agreed to close the biggest CU purchase of a bank to date made the decision in part because it believes not many medium-to-large CUs are seeking to merge today.
KEY WEST, Fla.–Two CEOs and one senior executive from three large credit unions shared their views and experiences in steering their organizations through everything from recruiting and retaining talent, to the use of incentives, to attracting deposits, to where they want to be a few years from now among other issues during an interactive discussion here.
KEY WEST, Fla.–CEOs gathered here were given warnings and some reassurances over a wave of litigation risks credit unions are facing, but cautioned the biggest threats are coming not from C-suite decisions, but instead from all the letters being sent out and phone calls answered each week by employees
PHOENIX—Strategic planning sessions can be made far more productive when the credit union invites a “disruptor” to the meetings, one person insists.
LAKE FOREST, Ill.—The typical credit union’s business model is big, heavy and cumbersome—high operating expenses supported by hefty fee income—and it will no longer carry them forward as competition becomes much more nimble and efficient, warns one economist.
LOMBARD, Ill.—Credit unions are increasingly facing a big cost-of-funds “bugaboo,” needing to devise strategies to attract deposits to meet loan demand without driving down net interest margins, according to one expert.
RANCHO CUCAMONGA, Calif.—Are the ultra-rich credit card rewards programs finally having a spillover effect on debit card offerings?