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Apr 11, 2024 | 
cuinsight.com | Scott Butterfield |Albert Howard |Jill Nowacki |Asha Connors
The many threats to fees and other income are top of mind for everyone today. And for good reason. Most credit unions wouldn’t have a positive bottom line without fees and other income. Credit union leaders are engaged and committing time, talent, and financial resources to advocate against the threats to fee income. Truly it is a time for all credit union leaders to work together to protect credit unions’ ability to earn fair fees and other income.
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Apr 11, 2024 | 
cuinsight.com | Albert Howard |Jill Nowacki |Asha Connors |Eric Marcus
In the fast-paced digital age, credit unions face a unique set of challenges, particularly in maintaining uninterrupted communication with their members. Traditional methods, especially reliance on phone systems, have proven vulnerable to disruptions, posing significant risks to service continuity and member trust. However, innovative digital platforms are emerging as vital tools to overcome these challenges, ensuring credit unions can keep their operations resilient and responsive.
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Apr 10, 2024 | 
cuinsight.com | Stephen Culp |Jill Nowacki |Asha Connors |Eric Marcus
U.S. stocks tumbled to a lower close on Wednesday after hotter-than-expected inflation data threw cold water on hopes that the Federal Reserve would begin cutting interest rates as early as June. All three major U.S. stock indexes veered sharply lower at the opening bell after the Labor Department’s Consumer Price Index (CPI) report landed north of consensus, a reminder that inflation’s road back down to the Fed’s 2% target will remain a long and meandering one.
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Apr 10, 2024 | 
cuinsight.com | Preston Packer |Jill Nowacki |Asha Connors |Eric Marcus
In today’s dynamic financial landscape, credit unions face the challenge of meeting the evolving needs and expectations of their members. As technology advances and consumer preferences shift, it’s imperative for credit unions to understand what members truly want in the lending process. From simplicity and transparency to embracing digital solutions, the key to enhancing member satisfaction lies in catering to these core desires.
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Apr 10, 2024 | 
cuinsight.com | Mark Arnold |Jill Nowacki |Asha Connors |Eric Marcus
Many institutions are submitting consultation requests for community bank and credit union strategic planning sessions this fall. As dates fill up, the conversations become increasingly centered around the calendar…what dates work and what dates don’t. And a date is necessary to have the session, but the session is not about the date. Too often, community financial institutions treat strategic planning as just a day on the calendar. But it’s a process. You must build a plan you actually use.
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Apr 10, 2024 | 
cuinsight.com | Laurie Maddalena |Jill Nowacki |Asha Connors
Managing people takes a lot of time, energy and effort. Maximizing the time you spend with employee will help you increase engagement and productivity on your team while ensuring you have time to juggle the responsibilities of leadership. Most managers spend their one-on-one meetings with employees reviewing tasks. While this may be necessary at times, there are ways to better utilize this precious time for coaching, developing skills and building career paths.
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Apr 10, 2024 | 
cuinsight.com | Alexandra Canal |Jill Nowacki |Asha Connors |Eric Marcus
US consumer prices came in hotter than expected in March, according to the latest data from the Bureau of Labor Statistics released Wednesday morning. The Consumer Price Index (CPI) rose 0.4% over the previous month and 3.5% over the prior year in March, an acceleration from February’s 3.2% annual gain in prices. The data matched February’s month-over-month increase.
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Apr 10, 2024 | 
cuinsight.com | Jill Nowacki |Asha Connors |Eric Marcus |Matt Saefkow
The CFPB’s proposed annual collection of auto loan data points is beyond the bureau’s statutory authority, America’s Credit Unions and other trade organizations wrote to leaders of the Senate Banking and House Financial Services Committees Tuesday. The CFPB requested approval from the Office of Management and Budget in January to expand a pilot program to more than 4,000 auto lenders that make at least 20,000 auto loans per year.
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Apr 10, 2024 | 
cuinsight.com | Jill Nowacki |Asha Connors |Eric Marcus |Matt Saefkow
An email from Scott* when he was notified he would not be considered as my client’s next President/CEO:Jill, I’ll be interested to see the candidate you select as my experience in retail banking is extensive. My background is diverse in retail sales, customer experience, strategy, finance, and risk. I am currently responsible for over $2 Billion in portfolio assets, not to mention lending investments with assets under management exceeding $100 Million.
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Apr 10, 2024 | 
cuinsight.com | Eric Marcus |Matt Saefkow |Jimese Harkley |Asha Connors
The “Great Resignation” may be over, but the talent gap in the credit union industry persists. While there may be a larger pool of applicants, finding the right fit with the specific skills and experience your credit union needs remains a challenge. Traditional hiring can be time-consuming and expensive, especially for niche tech positions. Recruiting top tech talent often requires offering competitive salaries and benefits, which can strain credit union budgets.
