Credit Union Magazine

May 20, 2024 | news.cuna.org | Glen Sarvady

This year’s Smarter, Faster Payments Conference, staged by Nacha in Miami Beach, was in part a celebration of the 50th anniversary of the ACH network, however, a far greater share of the agenda, was dedicated to the path ahead, including payment vehicles not directly tied to the ACH network.

May 19, 2024 | news.cuna.org | Bill Merrick

Home » Embrace a culture of complianceComplianceDirectors Stacie VanDenBerghe likens the board of directors to a GPS that determines the credit union’s destination, while the CEO oversees the route and employees serve as the vehicle to get there. The supervisory committee makes sure all parties follow the law along the way. “Trust but verify,” says VanDenBerghe, adding that the role of the supervisory committee is to make sure people follow the rules, and that they’re on the up and up.

May 15, 2024 | news.cuna.org | Glen Sarvady

By most measures, the credit union difference aligns beautifully with the priorities of younger Americans. This includes a preference to engage with community-oriented businesses and a focus on financial wellness. Industry metrics paint a more challenging picture, however. The average age of a credit union member is higher than a typical bank customer’s, and a Filene Research Institute study finds that over the past two decades, the median age of a credit union member has risen from 42 to 52.

May 12, 2024 | news.cuna.org | Bill Merrick

When it comes to cybersecurity, if you’re reachable, you’re breachable, says Cy Sturdivant, director of cybersecurity consulting at Forvis. “You’re at risk regardless of your size, location, or other factors,” he says. “If you’re on the internet, you’re reachable.”All industries have become more breachable in recent years: Reported losses from online fraud grew from $2.7 billion in 2018 to $10.3 billion in 2022, according to the FBI’s Internet Crime Complaint Center.

Apr 8, 2024 | news.cuna.org | Bill Merrick

Home » WATCH: Human-centered marketingMarketing In an industry dominated by transactions, the true essence of marketing often gets lost in the numbers, says Dustin Brackett, author of “Market Like a Human” and founder/CEO at HIVE Strategy. He addressed America’s Credit Unions’ 2024 Marketing & Business Development Council Conference in Las Vegas.