MADISON, Wis. (February 13, 2012) –CUNA announced the release of the new white paper, “Effective Credit Union Board Succession Planning” commissioned by CUNA’s Community Credit Union Committee. This study examines the current demographics of community credit union board members, the issues that arise from these findings and strategies for successful board succession and retention. The new white paper is available here.

This newly released white paper evaluates the changing demographics of community credit union board members and reveals that most credit unions do not have a reliable system for attracting the next generation of board members. Furthermore, many boards struggle to reflect the growing diversity of their members, with women and minorities being underrepresented. Through a series of credit union case studies and a list of expert recommendations, this white paper illustrates how successful board succession planning looks in the real world, what credit unions can do to reverse certain negative trends and provides concrete instructions for how credit unions can prepare for the future. Some examples include:

• Creation of an associate director program
• (Re)consideration of term limits
• Development of an “evergreen” list
• Continuing education requirements

“CUNA’s Community Credit Union Committee has done an excellent job of identifying and addressing a critical issue facing many credit unions. Commissioning this white paper will prove to be incredibly valuable to CEO’s and Boards of Directors. The strategies presented will help to ensure a credit unions board stays functional and competitive in the years to come.” said Todd Spiczenski, Vice President Center for Professional Development at CUNA. “Many credit unions face serious problems if board succession plans are not effectively put into place and changes are made to attract new board members. This white paper provides many practical tips and suggestions that any credit union can incorporate into its daily operations to reverse the worrisome trends seen in board demographics.”

Those interested in learning more about Board Succession Planning for Community Credit Unions can view the full white paper at no cost by clicking here.

To learn more about CUNA’s Community Credit Union Committee and its mission visit cuna.org/initiatives/community_CUs.

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.

Arnold explains how the marketing tactics that worked for credit unions pre-technology may still work today, but they may not be nearly as effective in reaching consumers.  The way people live now, with technology at their fingertips most of the day, changes the way they expect a financial institution to interact with them.  Simply put, technology has put consumers in control, and they decide when and how they want to be communicated with. It’s up to credit unions to adapt to those new rules by changing the way they reach members and non-members.

This white paper:

• Shares current technology trends
• Examines online marketing elements worth considering
• Discusses the essentials of an online marketing strategy
• Provides tips on implementing online marketing tactics
• Reinforces the concept that utilizing online marketing tactics has the potential to reach more people and produce better results for less money.

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 sectionof www.cunacouncils.org– select the “Marketing & BizDev” tab.

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