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Back to Basics: Mitigating Money Laundering Risk in 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.
Is Email the Achilles Heel in Your Wire Fraud Prevention Plan?
In Greek mythology, Achilles was the greatest of all Greek warriors. But despite his overall strength, one small, unprotected area on his heel led to his ultimate downfall. As warriors against fraud, credit unions vigilantly establish safeguards to protect their institutions, but one small vulnerability – email – can be the Achilles heel that cripples financially and reputationally.
What You Need to Know About the Expense Analysis Page
Cornerstone’s ALM Key Ratio Analysis Report includes an Expense Analysis, which can provide insights for your credit union. The Expense Analysis, found on page 11 of the report, gives you another perspective to consider when looking at the costs to run your credit union as they relate to offering loans and share drafts—the products and services you offer your members to make their lives better.
Auto Loan Opportunities ABOUND for Credit Unions!
Despite supply issues and higher prices across the auto industry, car sales have continued to remain strong. As new and used vehicles continue to sell, financial institutions have had plenty of opportunities to make car loans and increase their share of the auto-lending market, but it hasn’t been easy for credit unions attempting to do so.
4 Things You Should Know About the Recently Amended Derivatives Rule
Conversation around interest rate derivatives has gained more traction within the credit union industry over the last year. And recently, the NCUA Board approved a final rule that modernizes the proposed derivatives rule. Here’s what you need to know.
Steps for Post-COVID Mortgage Lending Success
We are living in fast-changing times. Lenders that fail to meet the changing demands of their borrowers will be ill-equipped to compete for their business. While other industries have learned to deliver high levels of customer engagement and satisfaction online, many lenders are still originating loans much as they were 20 years ago.
Issuing Secondary Capital to Rebuild Net Worth Ratio: What LID CUs Need to Know
Credit union asset growth remained strong in the first quarter. However, these days, describing asset growth as “strong” is an understatement. After increasing 16.2 percent in 2020, assets grew at an annualized rate of 17.5 percent in the first quarter of 2021.
Mobile Remote Deposit: Lessons Learned from Shopping for Potatoes
Today, millions of consumers will make shopping decisions about cereal, chicken, tomatoes, and potatoes. And for many, those decisions will be based on one key factor: convenience.
Empowering Consumers’ Financial Lives With Credit Scores
There’s a lot of confusion for consumers about their credit scores, which is to be expected when borrowers receive ‘educational’ scores from various services does not often match lenders see in the FICO score. Most consumers, and Ser Tech, believe it’s important to see the scores lenders use during the loan approval process when making borrowing decisions.
Demystifying Bond Investing
As bond yields continue to rise more rapidly than rates on certificates of deposit (CDs), and fewer CDs are being issued, Catalyst Corporate’s Brokerage Team is fielding more credit union inquiries about investing in bonds. Is your credit union considering investing in bonds for the first time? If so, where do you start?
The Key to Surviving the Unexpected? A Well-Balanced Investment Portfolio
The 9/11 terrorist attacks, the Great Recession of 2008, and now…COVID-19. The health and economic crisis brought on by the global pandemic is arguably the third major outlier event of our generation.
MODDern Times In Auto Lending, Deep in the Heart of Texas
Randolph Brooks Federal Credit Union (RBFCU) is way ahead of the game when it comes to supplying the three most important elements in the modern auto buying experience – convenience, convenience, convenience.
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