Based on the article on this site last week, the new CUNA CEO thinks that “bold leadership” is working with bankers on certain issues of common interest. The only things CUNA has worked on with banks are the common interests of bank and credit union executives. The common interest issues up until now have certainly not been in the interest of members. Ever since the glorious, cash-rich days of the HR 1151 fight, the CU trade associations have been desperate to latch onto emotional issues that will keep the associations’ phones ringing, the coffers full, and the staff salaries high.
There’s no doubt the under-34 crowd is leading the charge toward mobile banking. Yet older consumers are increasingly turning to their smartphones and tablets to meet their banking needs, representing a big opportunity for credit unions. While older consumers still account for a smaller chunk of the market — approximately 27% of those who perform mobile banking transactions, according to a 2012 online survey of nearly 3,000 individuals conducted by the Consumer Research Section of the Fed — the percentage of older individuals swapping branch activities for mobile banking is only getting bigger, multiple studies reveal.
By Joe Brancucci
Sometimes we get so engrossed in the day-to-day elements of our business that we lose sight of the bigger picture. There’s a lot going on in our industry and this is probably as good a time as any to take a few steps back to put it all into perspective.
Reflecting on this, I think that 2011’s Bank Transfer Day was a great shot in the arm for all of us who participated actively, creating a group of passionate supporters and demonstrating how we care for our current and future members. But there was a lot more to it than that. Credit unions demonstrated their real value, which goes much deeper than products like financing and checking/savings accounts.
At the heart of it, providing favorable rates for home loans and car loans really helps keep families together and allows them to hold on to their jobs. And, by showing the intrinsic value of credit unions, which is to help keep members “whole,” we were able to reinforce our messages to current members and reach an entirely new set of prospective members in a different way.
As I was saying…
That “something cool” is finally here. And we think we’ve delivered.
Welcome to CUToday.info. Our tagline is “For Better Credit Unions Tomorrow,” and everything about CUToday.info is about helping you in your job, about helping credit unions to grow, and about better serving members. Not just today, but tomorrow, and the year after that, and the years after that, and well into the future.
If you look at figures from the Filene Research Institute and compare them to the Fortune 500’s record on women in leadership, you may think life is pretty darned good for women at credit unions. However, if you’re an ambitious young woman looking to make it to the top, here are a few things you can do in the meantime to break through. If you’re an ambitious young man, these tips can help you, too.
Why do boards find strategic planning so hard? It’s probably because they feel they can’t predict the future and therefore find it difficult to plan for the unknown. That’s true, but boards are composed of passionate, resourceful people and CAN create scenarios, CAN conceptualize the credit union’s future, and CAN plan to make it happen.
A little more than 10 years ago, I walked through NAFCU's front door for the first time. Such milestones give one reason to reflect. Here are 10 thoughts from my first 10 years.