Technology innovation is exciting! The newest technologies can change credit union business models, create a new customer experience, improve service, and reduce costs. Consumers have more choices for ways to conduct their financial transactions than ever before, and we are a culture that values choices. Leaders face questions about how to best utilize the credit […]
Grow or die. We hear this quite often. But what does it really mean? The game has changed. Credit unions are no longer just competing against other financial institutions. Non-traditional competitors are taking away non-interest income, especially sources such as interchange income. At the same time, non-traditional competitors, such as Lending Club and Sofi, are […]
The financial services industry is still holding its breath awaiting the repercussions of the Durbin Amendment reforming debit interchange. The initial threat for which many are preparing is a material reduction in non-interest income. Although the amendment exempts financial institutions with less than $10 billion in assets, opponents argue that merchants will (of course) coerce […]
It’s natural to wonder when things will get back to “normal.” But week after week, the only thing consistent in the economic indicators is that they are not consistent. So how do we plan for the future? Most credit unions are designed to thrive in a different type of economic environment─one we may not see […]
3 minute read – An organization that actively creates the right talent is an organization that can leverage their deep thinking, creativity, and flexibility to create a competitive advantage and deliver on the value proposition – all of which leads to higher ROA. Successful business executives have written volumes about the importance of having and […]
