Articles
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Jan 15, 2025 |
cutimes.com | Saeid Kian
The Great Wealth Transfer will require credit unions to develop a more efficient and service-oriented inheritance transfer process. Credit/Shutterstock Inheritance transfers have been around for as long as people have stored money in banks. But this time they’re different. The Great Wealth Transfer will see $90 trillion in assets passed down to the younger generations over the next decade in the U.S. alone, according to Knight Frank. These are unprecedented numbers. Are credit unions ready?
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Jan 14, 2025 |
unite.ai | Saeid Kian
In recent years, the financial services industry has been spearheading innovation with fintechs, digital banks, and other tech solutions — the sector consistently ranks at the top of VC investment. However, the case hasn’t been the same for financial institutions like credit unions, which usually thrive on in-person interactions with their members and running traditional operations.
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Jan 13, 2025 |
aibusiness.com | Saeid Kian
KPMG recently reported that financial institutions are increasingly leaning on AI to run their operations — 71% used it in 2024, citing ROI as the biggest gain. Most organizations are using the technology for financial reporting and are beginning to widen their scope to include treasury management, risk management, and tax.
Don’t drop the ball: How to handle the great wealth transfer while matching core credit union values
Sep 5, 2024 |
cuinsight.com | Saeid Kian
Over the next 20 years, around $84 trillion in assets will be passed on to heirs—this has been denominated the Great Wealth Transfer. $12 trillion of this will go to charity, while the remaining $72 trillion will be handed primarily to Generation X, Millennials, and Gen Z. Needless to say, financial institutions must brace themselves for this ride. This is especially true when inheritance is stored at a credit union.
Don’t Drop the Ball: How To Handle the Great Wealth Transfer While Matching Core Credit Union Values
Sep 4, 2024 |
cusomag.com | Saeid Kian
Over the next 20 years, around $84 trillion in assets will be passed on to heirs—this has been denominated the Great Wealth Transfer. $12 trillion of this will go to charity, while the remaining $72 trillion will be handed primarily to Generation X, Millennials, and Gen Z. Needless to say, financial institutions must brace themselves for this ride. This is especially true when inheritance is stored at a credit union.
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