As the nation’s unemployment rate continues its downward trend, many credit unions are celebrating higher loan demand and lower loan losses. But as most employers know, low unemployment levels have a darker side. Great talent is precious and sometimes elusive. To survive and thrive in the highly competitive and rapidly evolving financial services industry, high-quality […]
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 […]
Three. The typical number of bottlenecks when it comes to credit union project management: IT, Marketing, Compliance. These three departments are tasked with to-do lists for many projects within the credit union – on top of their own projects and priorities. A huge concern is if go-live dates are set on a case-by-case basis, instead […]
We are looking forward to hosting 3 days of asset/liability management (A/LM) education next week. Often our education classes will have a similar foundation of how to use A/LM to make decisions, how to identify what environmental factors to watch, and how to see potential problems that might be hiding in the modeling—to name a […]
To remain successful as the world changes and becomes more complex, risk management processes must keep pace. Risk management begins with identifying and quantifying strategic risks. An effective process also recognizes that it is not adequate to only quantify and understand risks in silos. Risks should also be quantified and understood in aggregate. As history […]
