Archive for Products
Beer Summit Part 3
Back in December, Keith Leggett posted an article on his blog, Credit Union Watch, about non-member business lending. To summarize the post: The reporter was shocked that credit unions were funding business loans to nonmembers, as this seems to contradict the raison d’etre for credit unions as membership organizations. He then stated a few statistics from [...]
Read moreIs the weakening dollar going to affect your CU?
Unless you are an ostrich and have had your head in the sand, the US economy isn’t doing great. Arguably we are already in a recession with the dreaded word "Depression" occasionally getting thrown around if we have any type of bank runs or if more large investment or retail banks go under like Bear [...]
Read moreProsper takes a huge move forward with a secondary market
Prosper announced this morning that they will be creating a $500M secondary marketplace for the person-to-person loans they manage. This will enable lenders to resell loans they have on their books to other investors to free up capital. Currently, when you lend money on Prosper, it is lent directly to a person, unlike Zopa which [...]
Read moreYet another Money Merge Account
Stumbled onto CMG Financial Services just now. It appears that yet another mortgage broker-esque company has entered into the One Account aka Money Merge Account space. CU’s have an opportunity here to help mainstream this product, but we’re falling farther and farther behind!
Read moreWhat's an IDA?
I asked the same question the first time I saw IDA. Did someone misspell IRA??? An IDA is an Individual Development Account and it is an initiative the state of Oregon kick off a few years ago through The Neighborhood Partnership Fund. The fund lists three main goals: Oregon’s communities will thrive while meeting the [...]
Read moreMore on the Money Merge Account / One Account
I encourage everyone to go look at the conversation going on at The Simple Dollar in reference to the money merge account/one account. They’ve had a lot of comments weighing in on the subject. In addition, it appears yet another financial institution is offering this type of product. Salem Five calls it their Ultimate Account.
Read moreZopa – Still coming soon
Zopa issued an update today through their mailing list detailing their new plan for national expansion, details about their new CEO, and even some job postings. They said that they’ve made some “adjustments” for their business model in the US, but provided no details about exactly how the US system will work. Until they’re ready [...]
Read moreUser generated content @ FI’s
So we’re talking about making a product manual for our staff to have quick reference to all of our product info. Everyone is talking about “manual owners” and who will be responsible for updating it, making it work in conjunction with the other manuals, etc, when I blurt out “what if we did a wiki?” [...]
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