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Oct 31, 2024 | 
cuinsight.com | Rebekah Higgins
Since the pandemic, consumers have been highly focused on safe, fast methods of payment. There are several products that allow funds to move faster, however, the question remains of how we can get payment methods to consumers faster as well. Traditionally, physical plastics take anywhere from 7-10 business days to be delivered to cardholders, leaving a significant amount of time and space for someone else to become top of wallet for your members.
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Mar 27, 2024 | 
cuinsight.com | Chary Krout |Laurie Maddalena |Jovilyn Herrick |Rebekah Higgins
It isn’t unusual in times of significant change – like a merger, a new CEO hire, or member program changes – for leaders to want to wait until ALL details are baked before sharing news with employees. So, how do you know when there is enough information to share with employees and begin engaging them in the journey, preparing for the change ahead? As leaders, we often adjust to change as we spend months in preparation phases.
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Mar 27, 2024 | 
cuinsight.com | Laurie Maddalena |Jovilyn Herrick |Rebekah Higgins |Brenton Peck
According to Gallup, only 21% of U.S. employees strongly agree that they trust the leadership of their organization. There are many ways executives and managers can build a culture of trust, and one of the most important elements is fostering psychological safety.
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Mar 27, 2024 | 
cuinsight.com | Jovilyn Herrick |Rebekah Higgins |Brenton Peck |Lauren Culp
Leadership continuity has been on the minds of many in the industry, including credit union regulators. For its part, the National Credit Union Administration (NCUA) has called out inadequate succession planning as a contributor to the credit union system’s ongoing trend of consolidation. What’s more, our team of compliance consultants is hearing of regulators bringing up the topic during exams more frequently.
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Mar 26, 2024 | 
cuinsight.com | David Baumann |Rebekah Higgins |Brenton Peck |Lauren Culp
Conservative taxpayer organizations and banking trade groups say they have new ammunition in their argument that the credit union tax exemption is outdated. They are arguing that credit unions are leveraging their tax exemption to gobble up community banks.
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Mar 26, 2024 | 
cuinsight.com | Michael S. Derby |Rebekah Higgins |Brenton Peck |Lauren Culp
The Federal Reserve said on Tuesday that it officially saw a net negative income of $114.3 billion in 2023, a record loss tied to expenses related to managing the U.S. central bank’s short-term interest rate target. The loss last year follows $58.8 billion in net income in 2022, the Fed said. The numbers released were an audited tally following preliminary numbers reported earlier this year.
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Mar 26, 2024 | 
cuinsight.com | Lauren Culp |Shelly Berryman |Rebekah Higgins
CUES caught up with Shelly Berryman to learn about SchoolsFirst Federal Credit Union’s efforts to educate its top leadership—its board members—about diversity, equity and inclusion. Berryman is VP/board and committee relations of $29 billion SchoolsFirst FCU, Tustin, California. A. As educators, our board members have a natural thirst for learning. We have a robust annual training schedule for directors that includes regulatory training and continuing education requirements.
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Mar 26, 2024 | 
cuinsight.com | Bo McDonald |Rebekah Higgins |Brenton Peck |Lauren Culp
Do you need pretty things, or do you need to meet your goals? In essence, do you need thinkers or doers? Do you need strategy or execution? Or do you need both? You need strategic thinking to pair with your leadership team, to understand your goals, and to know the tools needed to reach them. If you’re a small or midsize credit union, you probably also need your agency to execute those strategies for you. Finding one credit union marketing firm that does both well can be tough.
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Mar 26, 2024 | 
cuinsight.com | David Baumann |Rebekah Higgins |Brenton Peck |Lauren Culp
Treasury Secretary Janet Yellen endorsed legislation last week that would provide financial institutions with a regulatory safe harbor if they serve marijuana-related businesses in states where cannabis is legal. Yellen told the House Appropriations Financial Services Subcommittee that since marijuana is outlawed by the federal government, credit unions and banks are reluctant to provide financial services to cannabis-related businesses.
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Mar 26, 2024 | 
cuinsight.com | Rebekah Higgins |Brenton Peck |Lauren Culp
America’s Credit Unions joined with several organizations to urge the CFPB to abandon its request for comment under the Paperwork Reduction Act (PRA) regarding a proposed new information collection on auto lending, noting the bureau lacks legal authority to collect the information outlined in the proposal and “grossly underestimates the burden of the information collection.” The proposed new information collection – the “auto finance data project” – would annually require lenders that...
