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Back to Basics: Mitigating Money Laundering Risk in Credit Unions
Loan Pricing is an Artform
Truly artful loan pricing is a delicate balance between providing the best possible value to your credit union and offering a rate that members ultimately accept. There is no clear market indication for how to price a loan...that's where it becomes an art.
Next Steps for Embracing Innovative Digital Solutions
Historically, credit unions have strived to be their members’ primary financial institution (PFI) – the place where people have their checking account, direct deposit, favorite credit card, possibly even their mortgage. However, the PFI concept is quickly evolving.
Accounting for Loan Losses: CECL’s Coming Down the Pike
Talked about for years, implementation of FASB’s Current Expected Credit Loss accounting standard is now only weeks away. Known as CECL, the new accounting standard becomes effective January 1, 2023.
4 Ways Automation Can Help Your Credit Union
As contrary as it may seem, using AI in your underwriting process can actually make the experience more human for your members. It’s faster, more accurate, helps you maintain compliance, and lets you approve more borrowers, while improving the experience they have with your credit union.
Keeping the Pulse on Faster Payments
Momentum continues to build in faster payments as volume, capabilities and use cases expand and develop. Catalyst Corporate's Glenn Wheeler explains some of the latest developments in preparing credit union onboarding for the FedNow system.
Four Easy Steps for Staying Secure in 2022
Cybersecurity has become one of the biggest hot topics inside and outside of technology circles over the last two years. From securing learning devices due to a rise in digital learning during the COVID-19 pandemic to coping with the fallout of high-profile breaches of national infrastructure such as the Colonial Pipeline, there is a seemingly endless news cycle dedicated to cybersecurity mishaps and concerns.
The Anatomy of a Data Breach: What are they and what to do when you spot one
Arguably no phrase has dominated the tech world over the last 24 months more than the term “data breach.” From breaches that have impacted critical infrastructure like the Colonial Pipeline to hackers compromising healthcare records at UC San Diego Health, the last two years have been saturated by headlines of cybersecurity mishaps.
Successfully Navigating the LOS Experience to Meet Your Goals
Just about every financial institution uses some type of core system to run its operations. Some credit unions (or even community banks) will try to tap the loan origination functionality that is built into their core system. However, as lenders grow, eventually, they have a “graduation moment” and realize they need a standalone loan origination platform to reach their current and future goals.
Insights from a Southwest CUNA Management School Attendee
Catalyst Corporate ALM Consultant Richard Cranfill shares his takeaways from Southwest CUNA Management School (SCMS) at Texas Christian University. See what he found most interesting about his experience.
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?
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