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Back to Basics: Mitigating Money Laundering Risk in Credit Unions
Eliminating Real-Time Payments Fraud and Human Error
Human exploitation, lost/stolen credentials or scams that compel consumers to divulge or expose personal information keep payments fraud on the rise. Catalyst Corporate's Glenn Wheeler explains the importance of raising awareness about payments fraud.
Loan Participations: A Winning Strategy for All
Jeff Hamilton, Catalyst Corporate Vice President of Member Credit, suggests Loan Participations can be a winning strategy for your credit union.
Let the PXT Select Assessment Help You Find the Right Talent
Every organization has felt the pain of making poor “people” decisions, as well as the joys of finding rising stars. The PXT Select assessment provides you the right information to make informed talent decisions so that you engage the right people.
Key Questions to Ask When Selecting a Consumer Loan Origination Solution
Loan Origination Systems (LOS) can be simply defined as a digital platform that facilitates the lending process from application through the disbursal of funds. While the definition may be straightforward, comparing different LOS platforms will reveal numerous feature gaps, integration challenges, and implementation road blocks. Knowing the right questions to ask LOS vendors can help you select the best solution for your credit union.
How I Positioned Myself for Growth at the Young Professionals Conference
Digital Marketing Coordinator Tuesday DerMargosian represented Catalyst Corporate at Cornerstone's recent Young Professionals Conference. Join her for a look at her conference journey, her takeaways, and a short video.
How Can Interest Rate Swaps Be the Answer to Rising Rates?
How Can Interest Rate Swaps Be the Answer to Rising Rates? The rise in interest rates has caused the values of mortgage portfolios and long-term investments to decline. Some credit unions and board members have said, “Maybe we should stop or slow down our mortgage lending.” My answer to them is always the same: Wait, let’s talk this through first.
Network Vulnerability Assessment Test vs. Penetration Testing
Although similar in nature, external vulnerability assessment testing (VAT) and penetration (PEN) testing are quite different.
Are You Moving Forward with a Faster Payments Strategy?
Faster payments are quickly becoming the expectation, with new use cases for the various faster payment technologies found almost daily. The time to start preparing is now, but where do you begin?
Why Purchasing Premium Bonds Can Make Sense in a Rising Rate Environment
The market has priced in six FOMC rate hikes of 25 basis points by the end of the year, with almost four projected by midyear. Although volatility is likely, expectations are for a continued increase in interest rates. Most credit unions will benefit from this, but investing in a rising rate environment has its challenges. What does it mean for your investment portfolio?
You Need a Supervisory Committee Annual Review, but What Does That Entail?
Every year, credit unions must undergo a Supervisory Committee Annual Review, often referred to as a SCAR. Perhaps your credit union is due for one. At this point, you must decide which kind of review your credit union needs. What will it be? A Full-Scope Review or what’s known as “Minimum Procedures.”
The Federal Reserve is About to Change its Monetary Policy. Is Your Credit Union Ready?
At their November 2021 meeting, the Federal Reserve revealed they will begin to taper their asset purchases – a program that started at the onset of the COVID-19 pandemic and should conclude mid-summer of this year. What does this mean for credit unions?
Checking the Boxes with Subordinated Debt
New Year’s Day will represent more than the flip of the calendar this year. After six years of discussion and deliberation, the NCUA’s final subordinated debt rule will take effect January 1, 2022. What do credit unions need to know about this upcoming rule change?
Measuring the Impact of Automation
When it comes to originating loans, whether for the lender’s portfolio or for selling into the secondary market, automation is a basic requirement. Today, there are too many legacy manual processes throughout the applicant’s journey from origination to closing. It’s not enough to have a system of record to process the information required to generate a compliant and saleable loan.
Digital Transformation Made Simple
As I talk to credit unions, I often hear that digital transformation is one of their biggest challenges. So, I set out to write a simple blog about how remote deposit capture can make life easier for credit unions as they face this process. But said blog took a detour in the direction of complexity…
Cornerstone Can Help Your Credit Union Meet the Moment Through Commercial Lending
The COVID-19 pandemic has led to many changes in the market, including the way consumers think about their finances. More businesses are being launched now than at any time in the past decade as American workers pursue their entrepreneurial dreams, thanks in part to the rise of pandemic-induced innovation and emerging technologies. Commercial lending is a great way for credit unions to meet the moment and align their business strategies with meeting their members’ needs.
LIBOR Sunset & a SOFR Horizon – Here’s What Lies Ahead
Night fades to morning, morning turns to night. With each passing day comes change – a constant cycle that also holds true in the world of investments. As you may know, the London Interbank Offered Rate is being phased out in the U.S. and replaced with a new benchmark rate, the Secured Overnight Financing Rate. Here’s what you need to know.
Economic Crisis from COVID-19 Fallout Is Not the 2008 Housing Crisis
Shana Richardson has read a lot of headlines lately about banks pulling out of HELOC lending, and even a couple of credit unions. While lenders were complaining about the regulators clamping down on certain types of lending and other associated matters following the housing crisis – and it was a housing crisis – here we are doing just that. Were the regulators correct?
Inflation, Deflation, Disinflation…Now Stagflation?
Inflation, Deflation, Disinflation…Now Stagflation? The first three terms are probably familiar, but stagflation may be new to some. However, its been popping up more frequently in recent news. What does it mean and how should we prepare for the possibility of its arrival?
5 Strategies to Building a Sustainable Compliance Program
Compliance is a recognized safety and soundness issue influencing the direction of examinations and the perception of management’s effectiveness in the organization. The nature of compliance has become a landscape of almost constant change. Those credit unions who wish to weather the onslaught of regulatory upheaval have come to recognize that an effective and robust compliance program will protect the credit union in these challenging times.
Is Technology Sprawl Ruining Your Lending Experience?
How many systems, both digital and manual, do your borrowers and employees have to navigate before booking a loan? The answer may surprise you and provide some critical insight if you aren’t surpassing your loan growth goals.
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