Backed by one of the early backers of Skype, Zecco is bringing $0 commission trading to the stock market. Not only are the trades free (up to a limit of course), but they also have a “community” of investors that haves blogs, forums, etc. They’re trying to bring the social web to trading.
3rd quarter earnings are being released left and right. Amazon had an amazing run up after closing today (14%) when they announced their earnings for Q3 2006. Weyerhaeuser and GM will announce their earnings tomorrow. What does this mean to CU’s??
Watch your outgoing ACH transactions. We learned a lot about where our members are moving their money to when we started to watch ours. How much are your members transferring out to ING? How much to Sharebuilder, Scottrade, or Sogo Invest? With some minor uncertainty with the Fed meeting this week, as some decent earnings in the stock market, don’t be surprised to lose some core deposits and CD’s in the next few weeks.
So what’s a CU to do?
I believe the saying is, "He who has the most data wins." Finding out where your members’ money is going is numero uno priority. Once you know why it is leaving and where it is going to, find out why you can’t meet their needs, or why Sogo Invest is beating you.
Get to the bottom of why your investment solutions aren’t cutting it. Call them!! Blog about it!!