Archive for CU Industry

why are CU’s converting

Here’s a great blog on some of the issues around credit union conversion: http://www.uspirg.org/consumer/archives/2006/08/nonprofit_membe.html

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how cool is your lobby?

These guys have a lounge and wander around with wireless laptops helping customers, both potential and current, use their online services. Makes a sign-in sheet look kinda silly, huh… https://www.frostbank.com/

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you might be a bank if…

I just stumbled upon this ABA article about “You Might be a Morphed CU if…” http://www.aba.com/Industry+Issues/cuarticle011805.htm Well you might be a bank if: -you charge your “underserved” members $35 dollars a month for a checking account-you can’t remember the last time you reversed a fee-you charge your customers to talk to you on the phone-you [...]

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The changing times

“My grandma belongs to that credit union” is something I frequently hear. CU’s do a great job of serving their current, aging members. But we are going to have to change our focus very soon to providing services to our younger members. To quote Debbie Matz from the Board of the NCUA: “Members age 18-24, [...]

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two factors concerning earnings

Our CFO brought this article to my attention from c. myers. It’s a must read for anyone on the finance side of the building in a CU. http://www.cmyers.com/education/EarningsChallenges051906.pdf

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High Yielding Savings Accounts

A must read about high yielding online saving accounts… http://www.creditunions.com/resources/press/pressreleases/40116/Internet%20Strat%20Consortium%20062606.doc So are credit unions ready to go? Can we open accounts, completely, online with no human interaction? Can we afford to pay for these high-yielding, online only accounts?

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shrinking margins…

As the fed keeps raising rates (I hear an 80% chance for the upcoming meeting), credit unions are trying to find new and innovative ways of squeaking out some more margin. You’ll notice by looking at some of the call reports, or just attending the TrendWatch quarterly conference call put on by creditunions.com and Callahan, [...]

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CU’s and WiFi

I’ve heard some whispers that the credit union industry might be uniquely positioned to provide WiFi service to areas surrounding their branches. While this proposition could pose security risks, additional cost during a margin-shrinking period, and operational problems (think about people hanging out in the lobby all the time), it is also ripe with opportunity. [...]

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