Community Financial Credit Union
Plymouth, MI:
What to Know About Credit Unions
Last week I wrote about banks that offer high yield checking accounts. This week I want to write about "un-banks" --in other words, credit unions. Hey, consider it equal time. It's no secret that banks got a bad rap during the financial crisis for their part in risky mortgage lending and for high...
How AI Will Supercharge Bank and Credit Union Innovation
Advanced chatbots and other tech driven by artificial intelligence will bring banking menus closer to consumer appetites and fintech appeal.
Why is credit union patching so difficult? Does it need to be?
Banking and business software must continuously stay up-to-date to protect the safety of credit unions and their members. Many major breaches seem to start with a simple problem – lousy patching. So, does credit union patching need to be so difficult? Is there anything your credit union can do to make patching your systems easier? …
How to Choose a Credit Union
If you’re drawn to the personalized service, local ties and great rates that credit unions are known for, you may be wondering how to find the right one for you.…
Which technology is just digital distractions for credit union CEOs
At CU 2.0, we introduce a lot of fintechs and technology organizations to the credit union industry. To be honest, we’re still shills for the concept of digital transformation. But though we present many companies, we’re strategic about the ones we recommend. Not all digital transformation is good. Unfortunately, some of the products and services …
Defining open banking and how it will affect credit unions
Currently, there are many different definitions of open banking in our industry. Depending on the motivations of the reviewer, it can be defined as “an attempt to democratize financial data exchange by allowing access to a consumer’s banking and financial data.” Others will call it a “standardized approach to financial data exchange, where financial institutions […]
How disruptive innovation is changing fraud in the credit union industry
Every day, there is a new story about how innovative technology is altering the landscape of numerous industries, including financial services. These technologies are no longer hidden away in back offices. They permeate our lives, impacting how we interact daily, how we engage with our friends and families, and how we transact. One area …
Preventing social engineering attacks: How credit unions are missing the mark
While credit unions focus their attention on technical defenses, social engineers are completely bypassing them. Even small credit unions are being targeted by phishing emails hiding ransomware or strange callers asking employees to verify their credentials to the core financial processor. Social engineering tests are required by many regulators, but are often performed incorrectly and …
Why open banking regulations and security matter to credit unions
Account holder digital expectations are often being driven by innovative fintechs and credit unions have turned to open banking as an effective way to meet this demand through partnerships with third-party providers (TPPs). Open banking relies on the use of application programming interfaces (APIs) to boost performance and reduce latency, and as with any digital […]
Does your credit union's cybersecurity pass the test?
A new program offered by the FDIC is calling for credit unions to beef up their cybersecurity and risk management strategies. Recent information from “FDIC on Why Banks Need a Disaster Plan for Cyber Threats” reports that the FDIC says it “encourages banks to practice responses to cyber-risk as part of their regular disaster-planning and business-continuity exercises.” The FDIC’s …
Internet of Things: Retail banking (Credit Union of Things)
The Internet of Things (IoT) has gained a considerable amount of hype as the “Next Big Thing” to change the world as we know it. Applications of IoT are thought by some to be limited only by the human imagination. From simply controlling your home (e.g. – lights, thermostat, etc.) with a smartphone, to life …
Credit Unions: 5 things everyone should know about credit unions
We continue to get questions about credit unions and although a google search may resolve many of these questions it leaves many more people wondering what are
Credit Unions vs Banks: Which is Better?
Tired of getting nickel and dimed by your bank? Maybe it's time to try a credit union.
Want Free Checking? Join a Credit Union
Though there might be reasons to stay with your bank
What is your credit union's appetite for risk?
The Rochdale Group’s consultants work with a large number of credit unions of all sizes that are in a variety of stages in implementing Enterprise Risk Management (ERM) programs. One of the most common questions we field in helping credit unions implement ERM programs is “how do we set the risk appetite for our credit …
How member analytics can affect your credit union’s bottom line
More so than other financial institutions, credit unions’ health depends on the choices made by consumers who use their products and services. Whereas banks can solicit supplemental capital freely, engage in speculative real estate deals, concentrate their holdings in business lending, and generally have greater wherewithal to take part more readily in loan participations and …
10 things you should know about credit unions
Better rates, lower fees make credit unions a good alternative, complement to banks.
Without passion, is your credit union just a bank?
Are you passionate about your Credit Union? “Yes” you say? Would the people you work with agree with you? Can you think of 3-4 ways that your passion comes through? If you are uniquely wired and passionate about the credit union movement as a whole, this should be easy! But in the end, does “passion” …
Is the compliance burden driving your credit union to consider a merger?
If you’re a leader in your credit union, compliance is certainly not a new issue. The compliance burden of today’s market is significant and costly; nor will it go away any time soon. If you feel like you once spent 80 percent of your time on member issues, and now you spend 80 percent of …
Inside credit union marketing: 6 video production mistakes
In my last two video-related columns–“Why You Can’t Be Afraid of the Camera Anymore” and “What Kind of Messenger Do You Want to Be?”–we discussed the many reasons to start up your credit union’s “video game,” along with who you want to “be” while delivering your video messages to achieve maximum impact. In other words …
Ultimate Guide to Credit Union Member Experience Success
Credit Unions rely on Member Experience as a key differentiator. Download our Free guide to MX Success to learn how you can create effective experiences.
