Cindy McGinness

Dec 11, 2023 | cuinsight.com | Jeff Rendel |Mark Arnold |Cindy McGinness |Chris Corse

A partnership, in its simplest form, allows two parties to produce a result that is greater than the sum of what they could each do individually. Naturally, the partnerships with the strongest goal alignment tend to be the most successful. In the case of credit unions and fintechs, it just so happens that both are chasing the same ambition – growth. Something is standing in the way, however.

Dec 11, 2023 | cuinsight.com | Jeff Rendel |Mark Arnold |Cindy McGinness |Jennifer Wagner

“We need you to push our limits this year,” said a credit union CEO as we built an agenda for a few days of strategic thinking, dialogue, and planning with senior executives and the Board of Directors. “We’ve been successful, but our members deserve more from their credit union. What can we create and do to drive more value to their relationships with us?”We built the framework for our meeting around a model exhibited by the US Navy.

Dec 8, 2023 | cuinsight.com | Mark Arnold |Cindy McGinness |Jennifer Wagner

Total loans outstanding in federally insured credit unions increased $132 billion, or 9.1%, over the year ending in the third quarter of 2023, to $1.59 trillion, according to the latest financial performance data released by NCUA. Total assets rose by $79 billion, or 3.7%, to $2.23 trillion during the same period. Insured shares and deposits increased $23 billion, or 1.4%, to $1.72 trillion, from one year earlier.

Dec 8, 2023 | cuinsight.com | Mark Arnold |Cindy McGinness |Jennifer Wagner

The Treasury Department Thursday released a revised CDFI certification application after delays that have set back financial institutions. The CDFI Fund initiated a certification blackout period Oct. 1, 2022, as it proposed changes to the process and application. “NAFCU appreciates the CDFI Fund finalizing its application for certification and incorporating several recommendations from CUNA and NAFCU.

Dec 8, 2023 | cuinsight.com | Rich Jones |Mark Arnold |Cindy McGinness |Jennifer Wagner

When asked “In the past year, which method did you use most often to manage your bank account(s)?” consumers responded as follows: Mobile (apps on smartphone or tablet) – 45% Internet/Online (Laptop or PC) – 27% Branches – 14% (Oct 31, 2022 – American Bankers Association) This statistic says a lot!Mobile utilization is the preferred method for consumers to manage their money and make deposits, transfers, and payments.