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Oct 31, 2024 | 
gonzobanker.com | John Meyer |Kelli Schultz
The FDIC issued a consent order against Discover Bank last year for lacking oversight into third-party risk management and a compliance vendor management program. The time is past for all financial institution leaders to heed this message, take a hard look at their vendors and highlight concerns to their boards of directors. But with so much information being gathered within an institution, what should CEOs share?
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Oct 2, 2024 | 
canadianmetalworking.com | John Meyer
Today’s machine tool builders have read many articles and technical papers about the emerging concept of digitalization.
Digital twins are emerging as viable tools in the design and marketing of many CNC machine tools today, a trend that will continue to grow.
Digitalization, both at the concept and build stages for the OEM and in the field for end customers, can be implemented at every level of machine tool operation today.
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Aug 19, 2024 | 
cumanagement.com | David Israelson |John Meyer |Pam Cohen
10 minutes Does your credit union’s strategic plan live in a binder? It should be an ongoing process. Recently, it can seem as though every aspect of society is moving at the speed of light: everything from technology to interest rates, to members’ priorities can change in the blink of an eye. “We are now in a new age. We’re in an environment where the business world is moving at such a fast pace—technology is moving at such a fast pace.
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Aug 19, 2024 | cumanagement.com | David Israelson |John Meyer |Pam Cohen
10 minutes Does your credit union’s strategic plan live in a binder? It should be an ongoing process. Recently, it can seem as though every aspect of society is moving at the speed of light: everything from technology to interest rates, to members’ priorities can change in the blink of an eye. “We are now in a new age. We’re in an environment where the business world is moving at such a fast pace—technology is moving at such a fast pace.
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Aug 5, 2024 | 
cumanagement.com | Matt Morris |Jennie Boden |John Meyer
4 minutes Discover the hidden factor sabotaging your board's engagement and accountability, and learn how to address it effectively. In 2023, we identified four elements of good governance in our State of Credit Union Governance Report: 1) board members fulfilling their roles and responsibilities; 2) engagement; 3) accountability and 4) trust.
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Jul 8, 2024 | 
cumanagement.com | Jennifer Geis |Art Chamberlain |John Meyer
5 minutes Master change management with these essential steps for effective leadership. In the rapidly evolving financial services industry, every leader needs to be proficient in guiding their organization and people through change. However, in my work with credit unions, I have found change management to be one of the most overlooked and undervalued leadership skills. The lack of a strategic approach often dooms important change initiatives to failure.
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Jun 28, 2024 | 
cumanagement.com | John Meyer |Allie Braswell Jr. |Bethany Ramos
As every executive and director knows, the way credit unions are regulated and monitored has changed dramatically over the last 20 years as the industry and the dangers it faces have shifted. Regulators have moved away from prescriptive checklists of do’s and don’ts that worked when credit unions provided limited services in limited ways, and shifted to an approach based on a broader overview of their actions and potential threats.
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Jun 6, 2024 | 
gonzobanker.com | John Meyer
The hacker group ShinyHunters allegedly breached Ticketmaster’s data in late May 2024, including credit and debit card information for over 560 million consumers worldwide. That’s more than 2.5 times the prior largest breach of Experian a decade ago. So, what will happen to U.S.-based consumers whose card information was compromised? Depending on how recent the cards were issued and their balances, they will sell for $8 to $20 per card on the dark web.
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May 13, 2024 | 
cumanagement.com | John Meyer |Jeremy B. Teitelbaum |Cheryl Jones
4 minutes What your credit union should learn about risk and liquidity from First Republic, Republic First and other bank seizures A nearby house fire caused by the lack of fireproofing might prompt a family to install fire-resistant materials inside their house, update smoke detectors and sprinklers, and perform recurring maintenance to the furnace and any other equipment that could start a fire.
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Mar 14, 2024 | 
gonzobanker.com | John Meyer
Mea culpa. Years ago, when I was a chief product officer involved in helping my company’s sales team conduct demonstrations with prospects, I made many of the mistakes I am ranting about here. At Cornerstone Advisors, I’m now on the other side of the table. I watch two or three software demonstrations each week and it kills me to see so many basic mistakes being made. I offer up this feedback with good intentions so we can all improve how we demonstrate our products to prospects and customers.
