LOMBARD, Ill.—One person has a suggestion for credit unions looking to stop cannibalization of existing low-rate deposits as they offer high rates to attract funds to support lending demand—don’t market to the general public.
MECHANICSBURG, Penn.—As the financial services industry rushes to embrace digital service delivery, one credit union is going in a whole other direction, sending representatives to members’ homes to discuss banking needs.
PARADISE ISLAND, Bahamas–More than 2,000 people representing credit unions from more than 60 countries around the world gathered here this week for the World Council’s World Credit Union Conference. It was an opportunity for most to learn what was taking place at credit unions in other parts of the globe, and CUToday.info has extensive coverage.
PARADISE ISLAND, Bahamas–Credit union executives are frequently challenged to ask themselves how they might start their own CU were they launching it today. One person here also posed that question, but then offered an answer.
PARADISE ISLAND, Bahamas–Look up, look down and, especially, don’t forget to look sideways–and toward specific places. It’s the only way to stay ahead of and even drive innovation while dealing effectively with disruptive threats, advises one person.
PARADISE ISLAND, Bahamas–Are you influential, or really just a persuasion steamroller when it comes to leading your team or organization? Your future depends on it, according to one person who has spent 20 years studying how influence works.
BOSTON—It’s getting a “little nutty” in the financial services space now as institutions grapple for deposits, says one expert, who is offering suggestions for how CUs can most effectively secure funds to support lending.
SANTA MONICA, Calif.—The days of haggling with car dealers for hours and then wading through pages of paper in the F&I office are on their way out, according to one company that lets consumers order a car on their smartphone in five minutes—never touching a pen to a deal.
TAMPA, Fla.–A credit union that has meticulously reviewed all member touch-points around its cards is now bringing its cards in-house, saying the “card experience” is going to be more critical to future card loyalty than even rate or rewards.
WASHINGTON—The one-year delay for credit unions of CECL’s implementation date is likely not an indication FASB is considering exempting CUs from compliance. Instead, say experts, what the additional time will do is help credit unions better prepare for the guidelines and also learn from others.