HARRISBURG, Penn.—Be competitive, but don’t be too competitive. That’s the advice from one CEO who has managed his credit union through several rising rate environments and who warns that chasing the high deposit rates of top-of-market competitors is often a losing battle.
SAN DIEGO—Already facing an increasing wave of ATM skimming attacks, credit unions are now being warned they must brace for “digital skimming” on home banking sites.
LAKE FOREST, Ill.–Many credit unions will look back on 2018 as the year former bank customers were in, and free checking was on its way out as a result, according to one analyst.
MADISON, Wis.—If the partial government shutdown has demonstrated anything, it’s made clear just how many Americans lack any savings for a rainy day and live paycheck to paycheck. It’s also revealed an opportunity for CUs to “distinguish” themselves, according to sources who spoke with CUToday.info.
WASHINGTON–For hundreds of thousands of federal workers today, the government shutdown will officially be felt as they miss their first paychecks. With some federal workers even creating GoFundMe pages as they seek help, CUToday.info has compiled a list of more than 50 credit unions that are offering various forms of assistance.
ROYAL-OAK, Mich.—When Michael Bell looks back on what are now the “early days” of acquisitions of banks by credit unions, he recalls all the phone calls he made to tell potential bank sellers that credit unions are good buyers.
BIRMINGHAM, Ala.—Get ready: in 2019 credit unions will face a “strategic conundrum” when it comes to lending, will need to take steps to address the “crazy pace” of digital change, and will be taking a different view of vendors.
LAKE FOREST, Ill.—Expect a good year for the economy and an even stronger year for checking accounts in 2019—especially at credit unions—says one economist.
NEW YORK—Even what was once a 44% capital ratio was not enough for a taxi medallion lender in this city to withstand the impact of ride sharing services—a fact Robert Familant, CEO of Progressive CU, now knows.
ATLANTA—It’s a long-time practice in verifying income on a loan application–ask for a paystub. But the increasing availability of fake financial documents, including paystubs, is demanding that lenders to beef up their income, employment and identity verification processes, Equifax is warning.