THE 'tude

As market conditions continue to evolve, today’s institutions face a dynamic landscape burdened with pressures on margins and loan credit quality, restrictions on capital and directives to reduce expenses. Profitability and cost management are now at the forefront as credit unions work to build their balance sheets and thrive in this challenging environment.

When it comes to credit unions’ involvement in politics and advocacy, two interesting statements were made almost simultaneously that should really cause the whole CU community to pause and think for a moment.

Facebook made changes to their API and SDKa recently. In their announcement of these changes, they let people know they no longer can use incentivizing to increase Page Likes. In other words, you can’t make people “like” your page by giving them something in exchange.

In the cartoons, the Voice of Conscience is always portrayed as a little white angel sitting on a character’s shoulder, struggling to be heard over the temptations being whispered into the other ear by a grinning, little red devil.

Headlines concerning financial literacy over the past several years have been pretty grim: failing grades, declining savings and mounting debt. That’s not surprising.

FinCEN believes that more explicit customer due diligences (CDD) rules are necessary for financial institutions to clarify and strengthen CDD within the Bank Secrecy Act regime.

For most credit unions, the added expense was justified by the risk of losing their most prized members, the transaction-rich and less-loyal millennials.  Committing to Apple Pay was more of a defensive move, because numerous studies indicate more than half of the millennials are likely to switch their primary financial institution relationship for a mobile wallet.

It is a well-known fact that if you are seeking a new job, a government appointment or looking to get something accomplished, you want it to be on the short list.


Michael Fryzel

It is also generally believed that the shorter the list you give to someone, the greater the chance of getting done what is on that list.

It’s hard to exaggerate the fears and rumors that have surrounded the terrible outbreak of Ebola.

Some have called for stopping all travel, for mass quarantines, and not just suggested but claimed to know that the whole tragic sequence is. in fact, a government conspiracy.