Posts Tagged must read

Top 10 must-read credit union articles from September 2011

Posted by on Wednesday, 12 October, 2011

September 2011 Top 10 Must ReadsSeptember ushered in changing fall foliage, football, and plenty of excellent credit union articles. Selecting the top 10 must-reads was no easy task, but we at CUNAverse believe the following list delivers the best content from across the internet. As always, we highlight important credit union articles from a variety of sources, including The Wall Street Journal and USA Today.

Did we overlook an article? Please share your thoughts by leaving a comment!


Facebook: Bank Transfer Day Generates Pro-CU Comments

The Facebook page for Bank Transfer Day, Nov. 5, is garnering many comments that are favorable to credit unions.

Credit Unions: A Cheaper Banking Option

With banks doing away with free checking and tacking on more fees, you may be able to get more bang for your buck with a credit union.

Your Money: Act to Avoid Bank Services Fees

Banks are awash in cash, despite the fact that they’re paying pennies in interest. And increasingly, customers are being charged for services that used to be free.

BofA Debit Fee Shows Interchange Cap a Blow to Consumers: CUNA

As most credit unions continue to offer free debit card services, banks are just beginning to apply sometimes hefty fees to the popular service.

Ensure FFIEC Compliance with Risk-based Authentication

The Federal Financial Institutions Examination Council (FFIEC) recently released a supplement [pdf] to its “Authentication in an Internet Banking Environment” guidance, originally published in 2005.

Federation Creates Foreclosure Intervention Toolkit for CUs

The National Federation of Community Development Credit Unions (Federation) has recently completed a new “Credit Union Foreclosure Intervention Toolkit” to help credit unions combat the foreclosure crisis in their communities.

Data Breaches Top List of Fraud Threats

Data breaches have overtaken the theft of physical assets as the No. 1 fraud type, with most data theft occurring in the financial services industry, according to Ken Otsuka, senior risk consultant for CUNA Mutual Group. Here are 6 steps to avoid devastating financial, reputation, and legal risks.

WOCCU Launches Intl. Year of Co-Ops Online Platform & Resources

The United Nations earlier this year announced 2012 as the International Year of Cooperatives (IYC), a time to recognize the contributions of cooperative enterprises worldwide, including credit unions. World Council of Credit Unions (WOCCU) recently launched a special section on its website to provide a platform for credit union organizations to share ideas about cooperative services and ways to celebrate the U.N. designation.

CU Execs Must Serve Only One Board, NCUA Says

The National Credit Union Administration’s (NCUA) management official interlocks rule prohibits members of a credit union’s management team from serving other nonaffiliated depository organizations, NCUA Associate General Counsel Hattie Ulan said in an agency legal opinion.

Enhance Your CU’s Investment Portfolio

Credit union leaders should set aside personal investment biases and change their investment styles to build a solid investment portfolio, two MEMBERS Capital Advisors analysts told attendees at CUNA Mutual Group’s Online Discovery Conference.

Top 15 Must-read Credit Union Articles for Summer, 2011

Posted by on Thursday, 22 September, 2011

What a busy summer in credit union land! We took a brief respite from our “Must Read” lists this summer to tend to other matters, but fear not! This post includes five articles for each month—June, July, and August—on important credit union topics you may have missed.

We hope these are helpful and, as always, please share additional articles by leaving a comment below!




Create a Board Succession Plan: Seven Steps

Creating a board succession plan is in members’ best interests and helps fulfill directors’ fiduciary duties. Learn how with this article.

What Do Credit Unions Need to Do to Remain Relevant

Several credit union IT leaders were asked this question by Credit Union Times at the recent Finovation conference in San Francisco: “What do credit unions need to do to stay relevant in the coming years?”

Small Banks, Credit Unions Fear Debit Fee Declines

Could a limit on the fees retailers pay on debit card purchases cause your bank or credit union to fail? That’s the dire picture some are painting as a cap on so-called swipe fees nears.

Louisiana League to Develop Young Professionals Network

The Louisiana Credit Union League (LCUL) is developing a program to provide networking, development and growth opportunities for Louisiana’s young credit union professionals.

Compliance: What to Know About Reg Z Changes

CompBlog, the Credit Union National Association’s (CUNA) newest addition to its electronic information toolshed for members, has started a conversation about what credit unions should focus on in the changes the Federal Reserve made this spring to its Regulation Z.




Why Social Media’s in the Cards

Credit unions still unsure whether or not to invest in social networking may find some direction in a new study. According to SYNERGISTICS Research, cardholders are beginning to connect with credit card issuers via social networks.

Credit Unions Provide Haven for Commercial Lending

More companies have turned to their friendly neighborhood credit union for commercial loans, which is keeping many folks in business and adding jobs to a shaky economy.

Fed Issues Interchange ‘Exempt/Not Exempt’ Lists

In its first step to facilitate a two-tiered debit card interchange fee structure since adoption of its final rule, the Federal Reserve Tuesday (06/12) issued two lists—one with the names of each institution considered to be covered by the new cap on debit interchange fees and another with the names of those that are exempt.

Check 21: Image is Everything

Even though the volume of checks written gradually declines each year, credit unions should continue to invest in check-capture technologies that automate item processing and lower costs, says Andrew Tilbury, director of marketing and communications at Bluepoint Solutions Inc.

Social Media Enters the Hiring Process

As with all communication, social media comes with business benefits and legal risks. A primary area for concern among HR professionals is the use of social media in the hiring process.




Crash Networkers Take on Affordable Home Ownership

In just ten weeks, the Filene Research Institute and the Crash Network have developed an innovative program designed to help credit unions increase the availability of affordable home ownership.

Ed Filene on Embracing Social Media

There has been a long-running topic on about how to get management on-board with social media when they are dead-set against it.

Can Square Bring You More Business?

Shari Storm, SVP and CMO for Verity Credit Union suggests the launch of Square may cause credit unions to see more of their members starting side businesses.

CU Members Today and Tomorrow

As credit unions look to attract new members and peak borrowers in the future, they should increasingly think “young” and “Hispanic.”

How Stock Market Woes May Impact CUs

What is the consumer-confidence effect of market volatility on credit union members?


Top ten must-read credit union articles for May 2011

Posted by on Tuesday, 31 May, 2011

It’s time for the top 10 must-reads for May, 2011 as we look back on the month that was and look forward to the month that will be. In this round-up we highlight important credit union articles from several sources, including MSN Money.

Nine steps to recoup lost interchange income

Don’t wait for the Fed’s final interchange rule or for legislation delaying its implementation to determine how to recoup millions in lost debit interchange income.

Credit unions have best credit card deals

Pew Safe Credit Cards Project examined the credit card market two years after the federal Credit CARD Act was passed. Their study found credit union credit cards offer consumers a better deal, across the board.

Banking on ex-bankers?

Ensure ex-bankers are a good fit for your credit union and the credit union movement before hiring.

Google ups the wave-and-pay ante for credit unions

Robert McGarvey writes: “Although this is still early days, David Eads, a mobile payments expert with Kony Solutions, stressed that now is the time for forward-thinking credit unions to contact Google to learn the details of getting involved in Google Wallet. ‘It will be important for credit unions to be part of this mobile payments revolution’.”

Equifax Report: Credit Scores Are Up

The U.S. credit market is stabilizing and growing, and the nation’s average credit score is increasing.

Understand your merger goals

Asking questions can help clarify your goals when you consider a merger.

Preliminary Data from Survey Show CUs are Strong Financial Education Providers

Sponsored by state credit union leagues and NCUF’s REAL Solutions program, the data and information gathered from credit unions will enable the credit union movement to demonstrate the power of financial education and counseling on the lives of members and communities across the country.

Protect against phone bill “cramming”

Consumers can pay for services not offered by their phone carrier–such as subscriptions, collect calls, and charitable donations–through their phone bill. Cramming occurs when unscrupulous third parties place false charges on the bill to collect money for services they didn’t provide. The good news is you can take these tips to protect yourself from cramming.

My Top 5 Takeaways from the CUNA HR/TD Conference

Technology CU’s Michelle Greear shares what she learned at a recent conference. Lesson 3: The new “normal” is anything but.

Study: Consumers Want Human Help in Learning New Technology

Four of 10 consumers would rather learn about new financial technology by talking with someone at their CU instead of learning on their own.

Top 10 must-read credit union articles for April 2011

Posted by on Monday, 2 May, 2011

CUNAverse brings you the top 10 must-reads for April, 2011. As always, we highlight important credit union articles from a variety of sources, including U.S. News and World Report.

Vote for the 2011 CU Hero of the Year

Who should be the 2011 CU Hero of the Year? Follow the link to cast your vote and celebrate credit union leaders and heros.

Why You Need a Credit Union Account

Jim Wang’s post discusses the many advantages credit unions have over banks. In addition to discussing the major differences between banks and credit unions, Wang suggests, “if you’ve been searching for a way to sever your ties to a commercial bank, consider credit unions.”

H&FF Radio Covered Financial Literacy in 200th Broadcast

Sunday, April 3rd was a milestone for the Home & Family Finance Radio program. The broadcast was the program’s 200th show and discussed the importance of financial literacy and offered ideas to help consumers develop everyday financial skills.

The Jigsaw Puzzle: Redefining Tomorrow’s Corporates

Robert McGarvey reviews the current corporate credit union situation and why “…Topic A in the credit union industry during 2011 has to be how corporate credit unions will service natural person credit unions going forward.”

AmeriChoice Uses Grant for Youth Fin Lit Outreach

AmeriChoice FCU is on track to reach more than 10,000 school students this year after receiving a grant from the National Credit Union Foundation in 2010 for its financial literacy youth outreach program.

Credit Unions Look for a Lending Rebound

CU loan portfolios take a hit as members pay down debt at unprecedented rates.

First Tech CU Adds As SEG

NCUA has approved First Tech CU to serve Seattle-based employees of

Review policies in wake of quakes, tornadoes

Do you know exactly what your insurance policies cover–and don’t cover–if you’re the victim of a tornado, earthquake, flood, or other natural disaster?

Council Honors Top Marketers

CUNA Marketing and Business Development Council’s Diamond Awards honors top marketers, best practices award winners also receive acclaim

CUs pick up the pieces in tornadoes’ aftermath

Credit unions in several Southern states have either begun to pick up the pieces from last week’s swarm of tornados and flooding or are standing ready to help.

Top 10 must-read credit union articles for March 2011

Posted by on Tuesday, 29 March, 2011

It’s time for the CUNAverse top 10 must-reads for March, 2011. This month we highlight important credit union articles from the Wall Street Journal and other sources around the credit union world including the National Credit Union Foundation and the World Council of Credit Unions.

Special Report: CUNA’s Governmental Affairs Conference

Couldn’t make it to CUNA’s GAC this year? Here’s what you missed.

Banks hit for CU Ills

Federal regulators point to Wall Street’s biggest firms for the collapse of five institutions at the heart of the nation’s credit-union industry.

NCUA Details Fin Lit requirements for FCU Directors

The NCUA in its letter to federal credit unions No. 11-FCU-02 reminded federal credit union directors of specific financial literacy requirements that will become effective later this year.

Hard-Working Apps Streamline to Meet Member Expectations

Scott Hess, vice president of consulting and innovations, Digital Channels, at Fiserv Inc. shares his thoughts on delivering consistent anywhere, anytime, any channel access to members.

Women Serving on Boards Improve Corporate Performance

The World Council of Credit Unions’ Global Women’s Leadership Network Members shared the advantages of women serving on boards of directors during the Global Women’s Leadership Network breakfast at the 2011 Credit Union National Association’s Governmental Affairs Conference.

Reach Out to Tomorrow’s Members

About 19 million nonmembers under age 18 live in credit union members’ households.

Credit Unions asked to complete financial education survey

The National Credit Union Foundation (NCUF) is now collecting data for its 2011 Credit Union Member Education Inventory.

Show your Policies Some Love

Additional defined benefit plan funding may be warranted if corporate bond yields drop.

Fed ends development of 3 Reg Z Mortgage rule changes

The Federal Reserve announced it would halt work toward finalizing three pending mortgage rulemakings under Regulation Z.

New safety seat advice makes sure kids are safe

New child safety seat recommendations were recently released.

Credit Unions and International Women’s Day

Posted by on Tuesday, 8 March, 2011

Did you know today is International Women’s Day (IWD)?  March 8th, 2011 is also IWD’s 100th anniversary.

So, what is it? IWD is a day to raise awareness for women’s issues and celebrate the impact of women today, and throughout history. IWD is recognized as a national holiday in countries like China and Bulgaria and even Google is commemorating the day.

The first official IWD was in 1911. Rallies were organized across the world to raise awareness for women’s rights to work, hold public office, and vote while speaking out against discrimination.

Google commemorates International Women's Day with new Google logo

Today, describes that modern IWD events range from business conferences and government activities to local women’s craft markets and theatric performances. These events continue to focus on women’s emancipation and equality issues while recognizing women’s various economic, social, and civic achievements throughout history.

There is an excellent article from the Harvard Business Review blog The Conversation which explains—and champions—the role of women as important players in helping to alleviate poverty across the world.

The article is a must-read, focusing on how, “Leveraging the power of women as the gateway to household stability became a fundamental premise of the microfinance business model….” You can read it here.

On this, the 100th anniversary of International Women’s Day the article lends a unique perspective on the important role women play in personal finance and is relevant to credit unions here in the U.S., the microfinance efforts of the World Council of Credit Unions, and the empowerment of women everywhere.

The credit union movement is the beneficiary of incredible contributions from women past and present. Women such as Dora Maxwell and Louise Herring advanced the credit union cause and left behind an indelible mark on the movement. Their work is to be celebrated and always remembered especially on a day such as this.

In that spirit, let us celebrate the impact of women on todays credit union front lines–from tellers to volunteers. Credit unions would surely not see the level of success they do today without their tireless contributions.

Indeed, the women who are credit union members are to be celebrated as well. In the United States and abroad women can be considered the backbone of personal finance for the family unit as the Harvard Business Review post implies. In many cases not only do they manage the family finances, women must make the necessary sacrifices to maintain household financial stability.

Therefore reaching women with personal finance education is important. Here in the states CUNA’s Center for Personal Finance developed the Women & Money Seminar-in-a-Box series to help credit unions address specific issues important to their female members.

So let’s celebrate the women in the credit union movement–and in our personal lives–for the contributions they’ve made and the battles they continue to face on this, the 100th anniversary of International Women’s Day.

Do you have a co-worker, volunteer, or credit union member who you’d like to recognize during International Women’s Day? If so, leave a comment! We’d love to hear your stories.

Top 10 must-read credit union articles for February 2011

Posted by on Thursday, 10 February, 2011

February’s Top 10 must-reads include content from the World Council of Credit Unions, Credit Union Times, and CNN Money in addition to excellent news and research from CUNA’s Credit Union Magazine, E-Scan, and CUNA News Now.  What do you think… did we miss any? Do those listed deserve to be must-reads this month?

Marketers embrace tablet technology

Reach an audience that’s young, high income, and likely to respond.

This article originally appeared on Learn more about subscribing to CUNA’s EScan resources and reports by visiting their website.

Consumer Confidence Jumps in January

Read CUNA Senior Economist Mike Schenk’s take on why consumer confidence rose in January and what it means for the overall U.S. economy.

Take control of your CU’s appraisals

Ask several key questions when reviewing each appraisal.

CUNA backs SEC’s CU swap clearing exemption

The SEC’s proposal to exempt CUs with less than $10 billion in assets from mandatory securities-based swaps clearing requirements has CUNA’s backing, but CUNA would like it to go even further.

Iowa CUs Seek Greater Collaborative Strength

With the help of World Council of Credit Unions (WOCCU), Iowa Credit Union League officials traveled to Poland in the hopes of learning ways Iowa’s credit unions to save money while better serving their members from credit unions and cooperatives overseas.

Embrace end-to-end E-lending

Electronic lending, from application to funding, will be a requirement to remain competitive.

Twelve selected for Indiana’s 2011 ignite project

Twelve Indiana CU representatives have been selected to be part of ignite, an initiative of the Indiana CU League focused on developing innovations that can help CUs better the financial lives of their members.

Fed action may affect benefit costs

Additional defined benefit plan funding may be warranted if corporate bond yields drop.

Apple FCU Offerings Aim to Help Make College a Reality

How is Apple Federal Credit Union helping local families of college-bound students turn the dream of earning a college degree into a reality?

Standing on shaky ground

For up to 50% of Americans, a job loss or medical crisis could spell financial ruin.

10 must-read credit union articles for January 2011

Posted by on Thursday, 13 January, 2011

The Credit Union National Association produces a number of excellent credit union-focused news and research via Credit Union Magazine, E-Scan, and CUNA News Now. Here are ten must-read articles from these publications for the month of January, 2011.

Marketing to Hispanics? Find the Right Translator

Make marketing messages understandable and culturally relevant.

Collection Strategies Adjust to Economy

A kinder, gentler approach is more likely to succeed.

‘NCUA-safe’, Suze Orman Attract Millions in Donated Ad Space

The “NCUA-safe” ad campaign featuring personal finance expert Suze Orman touting the virtue of federal credit union insurance has tallied more than $2.6 million in free advertising for the National Credit Union Administration (NCUA).

Ten Credit Card Predictions for 2011

Expect APR increases and lower delinquencies.

Gift Cards as a Meeting Incentive?

Can a federal credit union increase participation at its annual meeting by giving $25 gift cards to members in attendance?

There’s ‘No Such Thing’ as an Easy Core Conversion

If you let things slide, you risk ‘having a wave come over your head.’

Ill. League Obtains $1.4M Reg. Fee Holiday for Credit Unions

Why are all 290 Illinois state-chartered credit unions are seeing a boost to their bottom lines in 2011?

Credit Unions On Top in Customer Satisfaction

CUs and small banks lead their larger rivals in customer satisfaction and loyalty, reports the Prime Performance 2010 Bank and CU Satisfaction Survey.

Fed Action May Affect Benefit Costs

Additional defined benefit plan funding may be warranted if corporate bond yields drop.

Fed Offers Two Plans for Interchange Fees

The Federal Reserve issued for public comment its proposed rules addressing interchange fees.

>Must-read articles

Posted by on Tuesday, 31 July, 2007

>Here are a couple of great articles…
Generation Who, What, and Y? by Michele Featherstone
CUs and Social Lending: Make Banking About Sharing by Bill Merrick
Why are they so “great“?

Well, I’ll tell you. They emphasize…

  1. The importance of technology and the importance of an online presence. These things aren’t fads, they won’t go away. Large segments of my demographic use them now, and will continue to use them. C’mon admit it, cameras on cell phones… text messaging… you thought those would go the way of the calculator watch, Betamax, and CompuServe.
  2. The importance of involving young adults and communicating with us. Formally asking questions through a small focus group, being where we are, interacting with us on our terms… these are all ways to figure out how to better serve us.
  3. Excellent description on the nature of my age group. For example, under the “Give them a brand” sub-heading in Michele Featherstone’s article, Generation Who, What, Y? Dave Siegel of WonderGroup is quoted as saying:

“… because of their desire for individuality, Gen Y’ers want to be among ‘the few’ who are in the know. Second, because of their … quest for ‘experiences’ over functional products, brands must not just develop positions, but — more important — they must develop a spirit.”

In the “CUs and Social Lending” article, Wade Lagrone from Zopa says:

“Make financial services about sharing — the very thing young people ‘are desperate to do.’”