4 Tips for Unleashing Your Credit Union’s Best Kept Secret
Very few credit union members even know their credit union offers advice that can help them achieve financial security. We see surveys where an overwhelming number of people say, ‘Hey, if my credit union offered this, I would be very open to talking with them.’ Can you guess what service these members are talking about? […]
Drive Innovation, Today and Tomorrow
Strategic planning is both an obligation and an opportunity. Credit unions who plan well, execute well and employ innovation are the ones you read about today … growing faster, staying more relevant and becoming financially stronger. What makes one credit union’s plan better than another? Often, it is about how you plan as much as […]
Navigating Risks in the Lending Landscape
While speaking at a recent credit union league conference, I was asked by an attendee, “Are we going to learn how to be risk-free?” I responded, “If our goal is a completely risk-free credit union, then we can turn off the lights and go home.” Risk is inherent in lending. Because there is risk in […]
What Matters Now Research – 6 Key Differences Drive Multicultural Consumer Behavior
Over the past five years, multicultural consumers* have accounted for 100 percent of the U.S. population growth and 61 percent of credit union membership growth. As the population becomes increasingly diverse, understanding cultural differences might cause credit unions to reconsider their communication messages and product delivery channels. Our What Matters Now™: Insights from Multicultural Consumers […]
Running for a Great Cause
CUNA Mutual Group’s Tim McAdow shares his experience running the Credit Union Cherry Blossom Run. On April 8, I was one of several who represented CUNA Mutual Group at the Credit Union Cherry Blossom Run. We joined thousands of runners from coast-to-coast participating in credit union road races to benefit the Children’s Miracle Network Hospitals. […]
Risks as You Grow: Critical Considerations for the C-Suite
The C-suite plays a critical role in growing your credit union’s assets, employees, product portfolio, and membership reach. But with growth comes more potential for risk and a new level of scrutiny from competitors, members, potential consumers, regulators, fraudsters, and even your employees. Strengthen your risk management posture and create an organizational culture that can […]
Design Executive Deferred Compensation Plans that Won’t Handcuff Future Boards
Setting executive salaries may not always be an easy task for a credit union board, but the process of arriving at equitable numbers usually isn’t complicated. Supplemental benefits such as deferred compensation plans, on the other hand, can involve so many variables that it can be a full-time job to narrow down the choices. Even […]
The Evolution of Auto & Home Insurance in 2018
From Amazon and Alexa to Uber and Zillow, we don’t need to look far to see how technology and connectivity have changed our way of life, how we communicate, and how we do business. The auto and home (A&H) insurance industry is no exception. Regardless of whether your credit union currently offers A&H insurance, trends […]
Fintech: Friend or Foe?
Over the last several years, credit unions have shown tremendous growth, even alongside the uprising of many “fintech” companies. In the last number of years, credit union membership has experienced robust growth, with this year exhibiting the fastest member growth in more than 25 years, as measured from October of 2016 to that point in […]
Is Your Credit Union Prepared for These Emerging Risks?
For many credit unions, identifying, assessing, and mitigating risks can be a challenge, considering nearly every aspect of the business can pose a risk. While some credit unions have a solid strategy for recognizing existing risk and anticipating emerging ones, others are less proactive in their pursuit of risk mitigation. Emerging risks can be difficult […]