NCUA Trying to Simplify CECL Calculations
The NCUA announced September 14 it has developed a tool that is intended to assist credit unions in complying with the new Current Expected Credit Loss (CECL) rule reports CUCollaborate’s David Baumann.
Are You Selling to Members?
Cross-selling is an important aspect for credit unions, not just to promote products and services and increase revenue, but to support members in the most effective way possible. Keegan Daniel shares some ideas on how to make selling a success.
How We Build Products as a Cooperative
Designing new software as a cooperative and determining the best strategy with which to do so can be a balancing act. CU*Answers CEO Geoff Johnson discusses a few approaches his cooperative takes and what they take into consideration before, after, and during development.
Unlocking the Power of Financial Ratios Part One
Bob Frizzle, Patrick Sickels, and Christen Lipschutz explain some helpful ratios to use when looking to determine a CUSO’s financial stability.
Cannabis Banking Bills Face Slow Progress and Disappointment
Despite broad bipartisan support and a desperate need for clarity on the issue, cannabis banking bills are making little headway in the Senate. NCUA board member Rodney Hood has doubts they will make any significant progress soon, Emily Claus reports.
Presidents and Credit Unions
Chip Filson shares when the credit union industry captured the attention of two very different U.S. Presidents.
How to Spot Member Fraud and Suspicious Callers
Unfortunately, there’s no automatic warning when a fraudulent caller reaches out to the credit union, but there are clues to watch out for. Nathan VanPatten offers strategies for spotting suspicious callers and separating your members from scammers.
NYC Taxi Drivers Getting Relief from Loans Made by CUs, Others
CUCollaborate: Beleaguered New York City taxi drivers may finally be getting some debt relief from huge taxi medallion loans they took out from financial institutions, including two defunct credit unions reports David Baumann.
NCUA’s Merger Supervision is Failing Members
NCUA is responsible for monitoring mergers, but Chip Filson believes it has become a rubber stamping process for the regulator and the industry is suffering for it.
Investable HSAs Are a Good Way to Earn Wallet Share
Jake Caliendo laments the seeming lack of credit unions offering investable health savings accounts, and suggests that credit unions are missing out on opportunities to earn member wallet share.
