Comments on: If only email was more like… http://cuinnovators.com/blog/if-only-email-was-more-like/ At CU Innovators, we help credit unions, CUSO's, and service providers create meaningful products and services for their members and clients. Mon, 14 Mar 2011 17:53:41 +0000 hourly 1 By: Robbie Wright http://cuinnovators.com/blog/if-only-email-was-more-like/comment-page-1/#comment-500 Robbie Wright Wed, 16 Apr 2008 21:47:05 +0000 http://blog.cuemployee.com/?p=236#comment-500 This just in... Ebay releases first quarter earnings results. <a href="http://files.shareholder.com/downloads/ebay/270696492x0x188143/0f787a2a-4ebb-4b72-8439-40e711047d9d/eBay_FINALQ12008EarningsRelease.pdf" rel="nofollow">PayPal makes $582M in the first quarter</a>. The first quarter!!! This just in…

Ebay releases first quarter earnings results. PayPal makes $582M in the first quarter. The first quarter!!!

]]> By: Elaine http://cuinnovators.com/blog/if-only-email-was-more-like/comment-page-1/#comment-499 Elaine Wed, 16 Apr 2008 21:04:56 +0000 http://blog.cuemployee.com/?p=236#comment-499 Hmmmm...also sounds like text messaging, to some extent, except for the processing time. (Although I have had weird things happen with texts occasionally.) Hmmmm…also sounds like text messaging, to some extent, except for the processing time. (Although I have had weird things happen with texts occasionally.)

]]> By: Robbie Wright http://cuinnovators.com/blog/if-only-email-was-more-like/comment-page-1/#comment-498 Robbie Wright Wed, 16 Apr 2008 05:04:07 +0000 http://blog.cuemployee.com/?p=236#comment-498 @Matt - Just look at how much was made off of this Visa IPO! And I'm with your conspiracy theory. If it wasn't built from the ground up like email, I don't think we'll ever get there. While that is a grossly simplified analogy, FI's will not switch unless they have a monetary reason to do so. @Matt – Just look at how much was made off of this Visa IPO! And I’m with your conspiracy theory. If it wasn’t built from the ground up like email, I don’t think we’ll ever get there. While that is a grossly simplified analogy, FI’s will not switch unless they have a monetary reason to do so.

]]> By: Credit Union Warrior http://cuinnovators.com/blog/if-only-email-was-more-like/comment-page-1/#comment-497 Credit Union Warrior Wed, 16 Apr 2008 00:15:52 +0000 http://blog.cuemployee.com/?p=236#comment-497 Debit/Credit transaction processing, inter-account transfers, and the Federal Reserve clearinghouse, while integral to business in general and financial institutions specifically, are so poorly understood by the masses. Why? My take is that financial institutions have intentionally kept this information secret. A ton of non-interest income is made in interchange fees, wire transfer fees, and the like, so FI's, I believe, want the public to know as little about the process as possible. I have no idea why I'm being all "Conspiracy Theory" here, but transparency in financial transaction transmissions, to me, is severely lacking. I truly believe that if credit unions could collaborate on changing the way we process these transmissions (cutting out the middle man, educating the public on how it works, etc.), we could save members, businesses, and the communities we serve tons of money each year. I certainly don't mind paying for convenience, but let's take a look at how much we are paying for certain conveniences. The fee structure at, say, Paypal screams to me that something needs to be done. And if that means a reduction in non-interest income, so be it (every finance guy in the industry just laughed out loud). Debit/Credit transaction processing, inter-account transfers, and the Federal Reserve clearinghouse, while integral to business in general and financial institutions specifically, are so poorly understood by the masses. Why? My take is that financial institutions have intentionally kept this information secret. A ton of non-interest income is made in interchange fees, wire transfer fees, and the like, so FI’s, I believe, want the public to know as little about the process as possible.

I have no idea why I’m being all “Conspiracy Theory” here, but transparency in financial transaction transmissions, to me, is severely lacking. I truly believe that if credit unions could collaborate on changing the way we process these transmissions (cutting out the middle man, educating the public on how it works, etc.), we could save members, businesses, and the communities we serve tons of money each year.

I certainly don’t mind paying for convenience, but let’s take a look at how much we are paying for certain conveniences. The fee structure at, say, Paypal screams to me that something needs to be done. And if that means a reduction in non-interest income, so be it (every finance guy in the industry just laughed out loud).

]]> By: Alex Carmichael http://cuinnovators.com/blog/if-only-email-was-more-like/comment-page-1/#comment-496 Alex Carmichael Wed, 16 Apr 2008 00:10:16 +0000 http://blog.cuemployee.com/?p=236#comment-496 Bravo! ...always wondered that myself... Bravo!

…always wondered that myself…

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