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2 months ago | 
creditunions.com | Sharon Simpson
DID YOU KNOW? LSU’s Tiger Stadium is the fifth-largest stadium in the nation. It can accommodate up to 102,321 fans. Working closely with local universities is nothing new for EFCU Financial ($1.1B, Baton Rouge, LA). The Greater Baton Rouge area cooperative has built a longstanding relationship with Louisiana State University and in 2024 was the Centennial Partner of LSU’s Tiger Stadium.
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Oct 13, 2024 | 
creditunions.com | Sharon Simpson
Top-Level TakeawaysServing employees of a nationwide organization is one way to offer customized financial solutions on a grand scale. Collaborating with employers and organizations to enhance the member experience and focus on distinct member needs helps deepen relationships within niche fields.
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Sep 29, 2024 | 
creditunions.com | Sharon Simpson
Top-Level TakeawaysGen Z’s 2023 homeownership rate surpasses millennials and Gen X at the same age. Credit unions offer zero-down mortgages and specialized programs to help first-time buyers achieve homeownership. Despite low inventory, higher interest rates, and a host of other challenges, don’t count Gen Z out of the homebuying market just yet. In 2023, the 27.8% for adult Gen Z-ers was higher than the homeownership rate for both millennials and Gen X-ers when they were 24 years old.
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Aug 25, 2024 | 
creditunions.com | Sharon Simpson
Top-Level TakeawaysFinancial literacy courses are increasingly becoming a graduation requirement in U.S. high schools, with mandates already in place in half of the states. States like Oregon, Pennsylvania, and Florida are integrating financial literacy into their educational systems.
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Aug 11, 2024 | 
creditunions.com | Sharon Simpson
Top-Level TakeawaysNearly 80 bank deals have been announced since 2012, generating big headlines but a small percentage of overall credit union M&A activity. In some cases, bank purchases are cheaper than de novo expansion efforts. Good relationships are crucial to success – with regulators, diligence partners, the institution being acquired, and more.
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Aug 11, 2024 | 
creditunions.com | Sharon Simpson
Top-Level TakeawaysWhile federal charters can easily move across state lines, some state-chartered institutions are taking advantage of local regulations that permit statewide fields of membership. While some credit unions prefer to get their name out via awareness campaigns, others promote themselves through community involvement and charitable giving. Don’t ignore the markets you’re already in, and ensure staff in all locations feel connected.
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Aug 4, 2024 | 
creditunions.com | Sharon Simpson
With mortgage refinance volumes virtually nonexistent, many lenders are focusing their attention toward the purchase mortgage market. That includes finding new ways to attract younger, first-time homebuyers. Despite higher interest rates, higher prices and lower inventory, many in the 25-34 age group still want to make their dreams of homeownership happen.
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Jul 21, 2024 | 
creditunions.com | Sharon Simpson
Top-Level TakeawaysDonor-advised funds (DAFs) bypass the complexities and costs associated with setting up independent foundations, providing an efficient means to manage donations, customize fund names, and ensure compliance. Credit unions can leverage the expertise and infrastructure of DAF managers to optimize their own philanthropic strategies. Credit unions should carefully evaluate DAF managers for fees, community understanding, and necessary licenses.
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Jul 21, 2024 | 
creditunions.com | Sharon Simpson
Top-Level TakeawaysEstablished in 2021, the Fortera Foundation focuses exclusively on assisting single parents attending college. In collaboration with Austin Peay State University, the foundation offers scholarships and financial literacy education to address the distinct needs of a region with high single-parent and poverty rates. It measures short-term success through graduation rates and aims to make a long-term impact across generations.
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Jul 14, 2024 | 
creditunions.com | Sharon Simpson
Top-Level TakeawaysAfter successfully launching a geofencing campaign around mortgages in 2019, Northern Credit Union has revamped that offering to benefit additional areas of its loan portfolio. Geofencing alerts members every time they’re in parking lots of competing financial institutions or even near Northern ATMs.Coupons associated with the technology are also helping members save a little money on their home loans.
