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Jan 15, 2025 | 
blog.flexcutech.com | Preston Packer
As the credit union industry evolves, staying informed about key trends and performance metrics is essential for ensuring long-term success and growth. In 2024, there have been significant shifts in asset growth, lending, deposits, and net income. Whether you're a credit union leader or part of a financial team, understanding these statistics can guide decision-making, help refine strategies, and identify emerging opportunities.
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Dec 6, 2024 | 
blog.flexcutech.com | Preston Packer
As a compliance officer at your credit union, you face a dynamic and demanding role. Navigating ever-changing regulations, managing audits, and staying aligned with your credit union’s goals are no small feats. Let’s explore the top challenges you encounter—and practical steps to overcome them. Top 7 Challenges & SolutionsRegulatory updates can feel relentless.
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Oct 18, 2024 | 
cuinsight.com | Preston Packer
In today’s digital age, cybersecurity should be a top priority for every credit union. With the rise in cyberattacks, it’s more crucial than ever to have a solid plan in place. However, sticking to old methods isn’t enough, as cyber threats continue to evolve and become more sophisticated. Unfortunately, some common misconceptions about cybersecurity can leave your credit union vulnerable to these risks.
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Jul 12, 2024 | 
cuinsight.com | Preston Packer
Credit unions are an excellent choice for those seeking a personalized banking experience, strong local support, and more favorable rates and lower fees. While the benefits of being a credit union member are numerous, it’s essential for credit unions to invest in the right technology to build a sustainable and future-ready institution. This involves attracting the newest generation of members each year.
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May 24, 2024 | 
cuinsight.com | Preston Packer
With the average age of a credit union member being , it is crucial to implement forward-thinking strategies aimed at attracting younger generations and expanding your credit union membership. One effective method to appeal to Gen Z is through the enhancement of your digital payment strategy. Continue reading to discover the significance of attracting Gen Z and learn effective strategies to capture their attention.
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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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Dec 29, 2023 | 
cuinsight.com | Preston Packer |Darren Smith |Atm Usa |Laurie Maddalena
Within the context of a credit union, one of the great things about technology is that it is always changing–meaning that new opportunities are always available to take advantage of. This does, however, change the type of risk an organization is exposed to–meaning that your risk mitigation strategies need to evolve with it. This isn’t necessarily a challenge, but there are several strategies that you’ll certainly want to implement to make sure you remain protected at all angles.
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Nov 28, 2023 | 
cuinsight.com | Preston Packer |Kristen Jason |Jenni Speth |Angela Prestil
Credit unions often provide a diverse range of loans to cater to the unique needs of their members. However, by strategically utilizing specific loan types, credit unions can experience accelerated growth. Therefore, if you want to continue to grow your credit union and expand in terms of critical metrics like return on assets, there are a few loan types in particular to leverage.
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Nov 21, 2023 | 
cuinsight.com | Preston Packer |Joman Kwong |Ben Stangland |Anna Baskin
As the fiscal year comes to a close, it presents a golden opportunity for your credit union to thoroughly assess not only the current direction of the organization but also its overall well-being and solidity. However, achieving significant and impactful change goes beyond a superficial overview of your performance.
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Nov 15, 2023 | 
cuinsight.com | Preston Packer |Jack Wayne Imes |ARIS JERAHIAN |Brittany Holmes
For your credit union, it’s important to acknowledge that “asset growth” and “increasing assets” are two different goals. A generalized growth in assets looks good in the short-term, yes. But sustainable asset growth requires a solid strategy. Let’s explore five impactful strategies to enhance your capability for asset growth. The most active credit unions also tend to be among the strongest lenders. They not only issue more loans but also maintain a higher number of loans per member.
