WASHINGTON—Military members need help transitioning from active duty to civilian life, and one piece of legislation currently in the House might make that move easier from some, asserts Anthony Hernandez, CEO of the Defense Credit Union Council.
LAKE FOREST, Ill.—Can banks, credit unions, thrifts and fintechs afford to lose $34 billion in annual revenue?
CEDAR CITY, Utah—Sue Longson was always accustomed to examiners and auditors taking an indepth look into the books when she ran credit unions and “poking around in her business.”
SCOTTSDALE, Ariz.—It's never been more important for credit unions to be able to sell digitally, says one analyst, who points out that just because an organization offers products online and via mobile does not mean it’s “selling” digitally. Also key: CEOs need to get involved.
BIRMINGHAM, Ala.—Credit unions are mistaken if they believe bankers are done with their lawsuit over NCUA’s new field of membership rules, according to Dennis Dollar, who also believes NCUA will need to act to again expand its FOM rules.
ST. PETERSBURG, Fla.—Digital wallets may never gain widespread acceptance unless the different “pays” begin playing together, says one analyst, who cautions if that does not happen, contactless plastic could leapfrog digital wallets.
TAMPA—The Federal Reserve’s recent rate cut is an opportunity for credit unions–but they need to act or risking losing members to other FIs that recognize how consumers are shopping around, according to one person.
MARSHFIELD, Wis.—Another small credit union is stepping up to help its small CU brethren by creating a CUSO for shared services.
ALEXANDRIA, Va.—Credit unions say more time is needed to study NCUA’s risk-based capital rule and its potential impacts—including possibly limiting the ability to serve the underserved—and in the process the agency should consider raising the asset ceiling for what’s considered a complex CU.
SCOTTSDALE, Ariz.—The checking account is no longer what it once was, asserts one analyst. who says they’re quickly morphing into “paycheck motels.”