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Back to Basics: Mitigating Money Laundering Risk in Credit Unions
NCUA issued an Advisory on Liquidity Risk Management
The NCUA issued an Advisory on Liquidity Risk Management. Here are four solutions that can help your credit union align with this advisory.
Real-Time Detection Solution Mitigates Check Fraud
In 2022 alone, financial institutions issued 680,000 reports of check fraud to the Financial Crimes Enforcement Network – an increase of 94% over the previous year. Lacking adequate security and detection controls can lead to significant financial loss.
Digital Loan Payment Process Solves Challenges
Adding a digital loan payment service can answer challenges credit union’s face. Here is a case study from a credit union in Texas that implemented Catalyst’s CU LoanPay solution.
Federal & State Labor Law Posters
As we prepare for 2024, one area of compliance often overlooked is labor law posters. Typically, the new year brings many legislative changes (minimum wage, paid leave, etc.) that employers are required to communicate to their workforce.
Overdrafts: Service Fee or “Junk” Fee?
In President Joe Biden’s State of the Union address on February 7, he called on Congress to crack down on “junk fees.” He defined the term in his address as “those hidden surcharges too many companies use to make you pay more.” Among those attributed to this murky category were charges related to overdraft services.
How to Fight the Deposit Slump
Few people get excited about basic banking, however, credit unions can augment mundane banking functions with unique lifestyle-based banking features.
White Paper: Strategies to Unlock Efficiencies in Modern Lending Programs
For over 100 years, credit unions have played a crucial role in the financial ecosystem by providing members with access to affordable loans.
Seven Key Steps to Unlocking Liquidity Certainty
The concept of liquidity plays a crucial and important role in the stability of financial institutions. However, with great importance comes inherent risk. The concern over liquidity risk has grown for credit unions, prompting the need for closer examination due to the present financial climate. Enter Liquidity Stress Testing.
Symphonies and Check Processing: The Common Thread
What if credit unions came together under one umbrella to consolidate their item processing to achieve benefits that would not be available to them individually?
Cybersecurity Best Practices for Credit Unions: 5 Tips to Help Protect Your Finances
In an age where financial transactions are increasingly digitalized, credit unions play a vital role in safeguarding the finances of their members and themselves. As we mark Cybersecurity Awareness Month, it’s an opportune time to emphasize the pivotal role of cybersecurity best practices. Let’s explore the key tips you must adopt in order to protect members and your own operations.
What the Rapid Growth of AI Means For Credit Union Lending
For credit unions, it’s no secret that technology is transforming our industry. We all know how important the digital experience is for serving our members, attracting new members, and staying competitive with banks and other financial services competitors. Simply put, technology helps us serve people better – and artificial intelligence (AI) is poised to revolutionize how we do that.
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Tight on Liquidity? The Simple Solution to Raising Liquidity with Non-Member Deposits
If you are in need of liquidity or simply looking for a secondary liquidity source, look no further than SimpliCD Issuance. Primary Financial, the custodian of the SimpliCD program, is a credit union owned entity created to serve credit unions.
A Better Way to Fight Cybercrime: The Consortium
Battling cybercrime in the financial services industry can be downright scary. Threat actors are continuously evolving new phishing or ransomware campaigns on banks and credit unions. Human error remains the number-one attack vector—often an unsuspecting employee who unwittingly gives a scammer the keys to your credit union.
Deliver an Improved Consumer Experience with Embedded Insurance
The financial industry has witnessed a transformation with embedded insurance. This new digital approach seamlessly integrates insurance coverage into various consumer touch points. Embedded insurance has emerged as a game-changer for loan payment insurance, offering benefits to both lenders and borrowers.
ALM Assumptions for Credit Unions: Strategies to Thrive Amidst Market Volatility
In recent years, credit unions have grown accustomed to the regular occurrence of market volatility and its effects. Surging deposits and liquidity surpluses were widespread with rates at historically low levels, only to go the other way sooner than most expected. Now, rates are at the highest they have been in years and credit unions are facing a shortage of liquidity on top of continued strength in loan demand.
Solutions Bring Convenience & Flexibility to Members
Over the past several years, evolving consumer expectations have served as a catalyst for payments innovation. From P2P to mobile wallets, and contactless to buy online/pickup in store (BOPIS), consumers have been open to trying new methods of payment to attain greater convenience, less friction and more financial stability.
Embracing Automation: Enhancing Lending Services in the Digital Age
In today's digital-driven world, credit union lenders are working to improve member service at every critical touchpoint. Evolving member expectations are pushing for more convenient options, like online membership and loan applications with quick decisions.
Expanding Community Impact: Credit Union Strategies for Business Growth
Building a strategy to grow your credit union could be as easy as looking at your current membership for inspiration.
Help Enhance Your Member Experience with a New Integrated Digital Feature
Introducing a new dynamic content feature now available from TruStage™
The FedNow Service is Live: Six Steps Your Credit Union Should Consider
The FedNow® Service has launched. Now what? It’s essential to educate yourself and continue building your credit union’s strategic plan regarding its role in faster payments. Here are six key steps to consider.
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