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Jul 15, 2024 | 
cuinsight.com | Mark Bugalski
As we move beyond the midpoint of the year, it’s an opportune moment to reflect on the challenges and opportunities that have defined the first half of 2024. For credit unions, the landscape has been particularly complex, and the road ahead requires a combination of creativity, resilience, and strategic foresight. First and foremost, it’s crucial to acknowledge that there is no panacea for the multifaceted risks faced by the financial sector today. Recent events have underscored this reality.
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Dec 20, 2023 | 
cuinsight.com | Greg Mesack |Nicolle Hood |Joman Kwong |Mark Bugalski
Credit unions are an integral part of the American economy. They provide safe and affordable financial products and services to their nearly 140 million members and Main Street small businesses. As not-for-profit financial cooperatives, every dollar that goes into a credit union goes back into serving their members and communities – unless it’s money they’re required to pay to their federal regulator. For credit unions, that regulator is the National Credit Union Administration (NCUA).
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Dec 20, 2023 | 
cuinsight.com | Nicolle Hood |Joman Kwong |Mark Bugalski |Jackie Brown
America is in a financial crisis. No, not like the 2008 meltdown that engulfed the entire world overnight. This financial crisis is gradually crippling the country, draining American pocketbooks of hundreds of billions of dollars every year. In 2023, in the most prosperous country in history, Americans lost a staggering $350 billion a year due to mismanagement of our personal finances. The data is devastating:Fifty-six percent of Americans don’t have the savings to cover a $1,000 emergency expense.
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Dec 19, 2023 | 
cuinsight.com | Yinglian Xie |Joman Kwong |Mark Bugalski
The launch of FedNow is a milestone in America’s journey towards payments modernization, enabling another option for digital payments 24 hours a day, every day of the year. While faster real-time payments have been available through The Clearing House’s rails and other popular solutions for faster payments like Zelle, many credit unions have been slower to adopt as they carefully weigh the risks and advantages.
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Dec 19, 2023 | 
cuinsight.com | Lauren Culp |Mark Arnold |Joman Kwong |Mark Bugalski
Bank or credit union consumer experience training is one of the best ways to excite staff about the work you did during a journey mapping session. It explains your new experience program to them and prepares them to deliver high quality service to members and customers. It’s also fun…a key element of breaking through with any piece of training content. But what does a training session look like?
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Dec 19, 2023 | 
cuinsight.com | Esteban Camargo |Joman Kwong |Mark Bugalski |Jackie Brown
Following its October budget proposal and subsequent commenting period, the NCUA Board has approved the 2024-2025 and Central Liquidity Budgets. In October, the NCUA had proposed a substantial increase to its Operating budgets for 2024, up nearly $38 million from $344 million in 2023 to $382 million in 2024, an 11.0% increase. The response from trade groups and credit unions alike was swift: the proposed budget increases were too high.
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Dec 19, 2023 | 
cuinsight.com | Lauren Culp |Joman Kwong |Mark Bugalski |Jackie Brown
CUInsight Publisher & CEO Lauren Culp is joined by Jessvin Thomas, Chief Product Officer at Adlumin for a quick interview with just 3 questions about technology and security…Three questions:(0:27) Generative AI and chatgpt have been a big topic of interest lately. What is your take on the subject, how can credit unions benefit and what risks should we be aware of? (4:03) Many credit unions were impacted by citrixbleed as well indirectly from third party outages. What lessons can we learn from this?
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Dec 19, 2023 | 
cuinsight.com | Chris Gottschalk |Joman Kwong |Mark Bugalski |Jackie Brown
For most people, January is a time to prepare for the year ahead. The most popular way to do that is by making New Year’s resolutions, but people also like to prepare by cleaning their homes, scheduling medical appointments and even taking advantage of post-holiday sales. If you really want to own the new year, though, you’ll also want to make sure your finances are prepared for the year ahead. This might sound like a complicated, tedious process, but it’s really not.
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Dec 19, 2023 | 
cuinsight.com | Jim Marous |Joman Kwong |Mark Bugalski |Jackie Brown
The 2024 Retail Banking Crystal Ball research project gathered input from large global and national banks as well as regional banks, community institutions, credit unions, fintech firms, vendors and advisors spread across North America, Europe, Asia and other regions. To answer questions facing financial institutions as we enter the new year, the Digital Banking Report asked people in the industry to provide their projections regarding what will happen in the future … and when?
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Mar 7, 2023 | 
cuinsight.com | Mark Bugalski
The credit union industry has faced many challenges in recent years, including a persistent period of high inflation, rising interest rates, compressed income margins, and stagnant demand in the economy. This economic phenomenon has been difficult for many credit unions to navigate. The economy has prompted many questions over the last several years from, “Are we headed into, or in a recession?” “Are we out of pandemic norms or into the new?”.
