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Feb 27, 2024 | 
cuinsight.com | Lauren Culp |Joshua Barclay |Becky Reed |Bill Ashland
Members really only want to go to your branch when they have an issue. Is your frontline equipped enough to handle the challenge?
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Dec 20, 2023 | 
cuinsight.com | Joshua Barclay |Greg Mesack |Nicolle Hood |Joman Kwong
Credit union loans outstanding increased 0.4% in October, compared to a 0.5% increase in September of 2023 and a 1.2% increase in October of 2022, according to CUNA’s latest Monthly Credit Union Estimates. Home equity loans led loan growth during the month, rising 3.4%, followed by credit card loans (1.3%), adjustable-rate mortgages (1.2%), unsecured personal loans (1.1%), other mortgage loans (0.09%), and used auto loans (0.2%).
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Dec 20, 2023 | 
cuinsight.com | Greg Mesack |Joshua Barclay |Nicolle Hood |Joman Kwong
NAFCU and other financial services trade groups sent a joint letter to the U.S Senate on Tuesday opposing Sen. Jack Reed’s, D-R.I., Predatory Lending Elimination Act. The legislation would impose a limitation to fees and interest charged on consumer loans through an all-in national rate cap of 36 percent, preventing lenders the ability to appropriately assess borrower risk.
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Dec 20, 2023 | 
cuinsight.com | Steve Cocheo |Joshua Barclay |Greg Mesack |Nicolle Hood
Navy Federal Credit Union went live on the Real Time Payments Network in early November and on its first full day received over $2.7 million in real-time deposits, setting a network record. Adding Navy Federal to the network is strategic to The Clearing House, the private-sector group that runs several payments systems, including the RTP Network, according to Elena Whisler, chief client officer at TCH. The reason is its sheer size and its profile.
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Dec 20, 2023 | 
cuinsight.com | David Baumann |Joshua Barclay |Greg Mesack |Nicolle Hood
Most consumers who were hit by overdraft fees during the past year said they were surprised by the charges, the Consumer Financial Protection Bureau said Tuesday, in a study that appears to contradict a key argument made by financial services trade groups. Using data from the agency’s Making Ends Meet survey, the CFPB said that only 22% of the people assessed overdraft fees had expected the fees.
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Dec 20, 2023 | 
cuinsight.com | Frank Allgood |Joshua Barclay |Greg Mesack |Nicolle Hood
There is a delicate dance of expressing gratitude this time of year. There is a stronger desire to show employees appreciation through festive cheer, gift-giving, and sugary bliss in the breakroom. But how can you go beyond surface appreciation? Expressing thanks and showing appreciation fosters a sense of mutual respect and connection with others. However, wouldn’t you agree that gratitude should know no season?
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Dec 20, 2023 | 
cuinsight.com | Joshua Barclay |Greg Mesack |Nicolle Hood |Joman Kwong
Data is the key to unlocking a robust member experience. That’s because it enables CUs to learn deeply about members and predict and identify their next best needs. Doing this allows the credit union to demonstrate itself as a partner in their financial journey and conveniently position its products at just the right time. To succeed with data, credit unions need a strategy to bring data together and use it to drive actionable insights.
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Dec 4, 2023 | 
cuinsight.com | Lena Giakoumopoulos |Courtney Bravo |Matt Wolf |Joshua Barclay
What do you find when you have a room filled with credit union women? Learning on all things leadership. Relationship building that goes beyond networking activities. Women not afraid to be authentic and vulnerable, showing true emotions (laughter and tears)! And a deep look into the data for women in leadership on a national and international scale.
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Dec 4, 2023 | 
cuinsight.com | Courtney Bravo |Matt Wolf |Joshua Barclay |Tim Daugherty
75% of American teenagers report feeling stressed and unconfident when it comes to their finances. And, admittedly, I can’t say that I blame them. While inflation and the costs of goods are a challenge many Americans are battling; teens aged 13-18 also cite student loans, lack of financial knowledge, and peer pressures as a source of stress. As of June this year, only 22 states require high schools to offer financial literacy courses. And even fewer require it as a requisite to graduate.
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Dec 1, 2023 | 
cuinsight.com | Richard H. Gamble |Joshua Barclay |Tim Daugherty
If volts are replacing gallons in the car world, does that change auto lending for credit unions? Electric vehicles are coming on strong, says Bob Child, chief operating officer of Origence, a CUES Supplier member based in Irvine, California. “The manufacturers are committed,” he says. “They introduced 32 new EV models in 2023 and are slated to introduce 50 more in 2024.”Currently EVs make up just 7.2% of car sales, but that number is doubling every year, he reports.
