MADISON, Wis. (December 29, 2011) — Interest in mobile banking is on the rise as smart phone usage increases, yet with this new technology comes uncertainty about the best way to implement it.

A new white paper from the CUNA Technology Council, titled “Maximizing Mobile Banking’s Potential,” provides guidance on how credit unions can get the most from the implementation of mobile banking.

“Mobile banking usage is predicted to balloon from 11% of US households in 2012 to 30% by 2015, with the number of individual users exceeding 50 million,” according to the white paper by Dale Davaz, Spokane Teachers Credit Union’s Director of eBusiness.

The paper, based on data gathered as part of a recent survey of Spokane Teachers Credit Union members about their mobile phone usage and mobile banking interests, discusses the different implementation options available, specific features of most interest to users, and potential security concerns that should be considered by credit unions looking to offer mobile banking to members.

CUNA Council members are entitled to complimentary copies of these and more than 300 white papers; non-members may purchase the white papers for a price of $50 per copy. 

The paper is available online in the white paper section of www.cunacouncils.org – select the “Tech” tab.

Press can contact Jenny Jackson at jjackson@cuna.coop  for a copy of the whitepaper.

Madison, Wis. (December 29, 2011)– The economic fallout from the Great Recession continues to impact the households of credit union members and add urgency to the work of credit unions’ collections departments, according to a new CUNA Lending Council White Paper.

Collections in a Post-Recession Environment is based on information gathered from lending and collections leaders at six credit unions as well as two experts from companies that  provide outsourced collections services for financial institutions.

The white paper explores how credit unions can update procedures, use technology, engage members early in the collections process, design loan modifications and take other steps to refine collections.

Credit unions report that a segment of members who have delinquent loans in the post-recession environment are from formerly affluent households and may still have relatively high credit scores. These households were able to use their assets to cope with financial demands as they adjusted to being unemployed or underemployed. But as assets are exhausted and members are unable to find jobs, the household falls behind on payments, loans enter collection and they may even file for bankruptcy.

This challenging post-recession environment offers an opportunity for collections to prove its worth to the credit union.

“Collections has always been on the back burner,” noted Jessica Anderson, Collections Manager at $400 million asset 121 Financial Credit Union, Jacksonville, Fla. “We know they’re making a difference, but we’ve never seen the true impact of collections’ successes or losses until we’ve reached these economic times.”

CUNA Council members are eligible to receive complimentary copies of this, and nearly 300 other white papers; non-Council members may purchase white papers for $50 per copy.

The papers are available online in the white paper section of www.cunacouncils.org – select the “Lending” tab for both.

Press can contact Jenny Jackson at jjackson@cuna.coop  for a copy of the whitepaper.

MADISON, Wisc. (December 21, 2011) – Credit unions looking to grow their profitability must look beyond their revenues, expenses and profits. Instead, they must begin to understand the profitability of their general membership, as well as each member’s individual contribution to profit or their Member Lifetime Value (MLV), according to a new CUNA Operations, Sales & Service Council white paper.

Entitled “Building Member Lifetime Value,” the white paper discusses five strategies used by credit unions to leverage MLV to drive revenue and profitability. Author Jeff Rendel provides real-world examples of credit union successes and shares the tools each used to build their MLV.

The paper is available online in the white paper section of www.cunacouncils.org – select the “OpSS” tab.

Press can contact Jenny Jackson at jjackson@cuna.coop  for a copy of the whitepaper.

MADISON, Wis. (December 13, 2011) – Credit union employees in all job classifications are more likely to stay in their positions than they were before the recession, says a new CUNA report.

The overall credit union turnover rate is 12 percent, according to the 2011-2012 Turnover and Staffing Survey. This figure is higher than the 2009 turnover rate (nine percent) and matches the 2008 figure. Prerecession turnover was about 15 percent.

“With heightened competition for skilled employees, it’s important for credit unions to monitor turnover rates,” said Beth Soltis, senior research analyst for CUNA. “This is particularly important when it comes to key employees, but turnover in any department or at any level costs the organization time and money for employee training.”

Hiring levels remain modest at credit unions. The creation of new positions at credit unions dipped at the onset of the recession and hasn’t changed since. The percentage of employees hired to fill newly created credit union positions was roughly five percent from 2005 to 2007. In 2008, 2009 and 2010, three percent of credit union employees filled newly created positions.

“During the recession, most employers reduced staffing levels as low as they could possibly go,” adds Soltis. “This makes it more important than ever for credit unions to retain high-quality employees, especially those in positions critical to their credit union’s success.”

The survey provides turnover and staffing trends, as well as key human resources and operating expenditures. Data is segmented by asset size, region, number of branch offices and other criteria. The included worksheets allow credit unions to make side-by-side comparisons of important metrics, such as turnover rates, with their peers.

For more information about CUNA’s 2011-2012 Turnover and Staffing Survey, click here.

The CUNA Credit Union Financial Counselor (CCUFC) Certificate will continue to be offered in 2012 and can be earned after successfully completing exams associated with one of the following tracks:

1. Attend the CUNA Certified Financial Counselor Schools June 11-14, 2012 in Austin, Texas and achieve certification onsite by successfully completing both Part 1 and Part 2 of the CUNA Certified Financial Counselor Schools and pass each qualifying exam.
2. Receive certification through the Credit Union Financial Counseling Certification Program (FiCEP), a self-study financial counseling certification program. Modeled after the CUNA Certified Financial Counselor Schools, FiCEP includes two parts of four learning modules each. CCUF certification is received upon successful completion of the proctored exams for both parts (eight total modules).

For more information about how to earn CUNA Certified Financial Counselor Certification, visit training.cuna.org/ficep  for FiCEP or training.cuna.org/cfcs for Certified Financial Counselor Schools.

Spanning four productive days in Punta Cana, Dominican Republic, the CUNA Volunteer Institute helps volunteers gain the skills they need to become expert credit union volunteers. From legislation and liabilities to discussing strategies to incorporate fun into the boardroom, volunteers will explore a variety of topics that will help make them impactful credit union directors. This institute is designed for volunteers looking to increase their knowledge while connecting with peers.

Attendees will hear from a variety of credit union experts on the following topics:

• CEO Oversight – What’s the Right Formula?
• Secrets of an Effective Board Chair
• Motivating Board Volunteers and Bringing FUN to the Boardroom
• Today’s Economy and the Risks for Your Credit Union
• Directors Who Make a Difference
• And more

“We are proud to see so many of our credit union board professionals at this program every year,” said Kevin Smith, Director of Volunteer Education at CUNA.  “The wealth of information provided at this institute goes a long way in improving board member performance and strengthening the credit union movement as a whole. The efforts of these volunteers set high standards for their credit union staff and helps demonstrate to their members their dedication to their credit unions.”

For more information about the CUNA Volunteer Institute and to register, visit training.cuna.org/CVI.