Resources Blog

AI is transforming credit union lending by automating tasks, enhancing member experiences, and promoting equitable access to credit. It streamlines underwriting processes, personalizes loan offerings, and improves fraud detection. These advancements allow credit unions to focus more on member relationships, maintain competitiveness, and serve underserved populations. Keep reading to learn how Origence can help your credit union utilize AI.

Fraudulent U.S. Treasury checks are rising, with alterations to the MICR line being a common tactic. Credit unions should be aware of potential losses when depositing these checks, as the U.S. Treasury does not have a 24-hour return deadline. Fraudulent checks may be returned months later, and standard check holds don’t guarantee funds. Read on to discover how to safeguard your credit union with solutions from Catalyst.

Strategic outsourcing transforms credit union lending by addressing staffing challenges, enhancing member service, and embracing technology. Many credit unions face recruitment and retention issues, making outsourcing an appealing solution to manage workload fluctuations and avoid employee burnout. By outsourcing lending tasks, internal staff can focus more on member interactions, improving service quality. Keep reading to learn more from Origence.

Credit union earnings are strong despite loan growth slowing to below 2%. Members spend less, and credit unions hold higher loan rates to manage risk. Delinquencies and charge-offs have increased, but performance remains solid. Understanding loan portfolios, especially in vehicle loans, is essential. While term certificate growth continues due to competitive pricing, the overall cost of funds has risen. Credit unions are effectively managing loan and deposit pricing, maintaining net interest margins around 3%. Keep reading to learn more.

Take advice from the experts at Stickley on Security and Millennium Corporate Credit Union to understand the importance of recognizing phishing red flags that can help protect your online financial accounts. Key red flags to watch include checking the sender's email address for discrepancies, being wary of messages that create a sense of urgency, spotting poor grammar or spelling, and verifying any offers that seem too good to be true. To learn more, keep reading.

In the November edition of the Velera Payments Index, consumer card spending showed improvement in October. Debit purchases increased by 5.1%, while credit purchases rose by 0.7%. Consumer confidence surged significantly in the lead-up to the presidential election, although job growth remains stagnant. As the new year approaches, credit unions are encouraged to focus on acquisition strategies and member engagement while managing elevated credit card delinquencies. Keep reading to learn more from Velera.

Budget management is crucial for college students as it prepares them for financial independence. To manage their finances effectively, students should adopt critical strategies such as setting clear financial goals, understanding their income sources, identifying and prioritizing expenses, using credit responsibly, repaying loans while still in school, saving regularly, and developing positive financial habits. Continue reading to learn more from LendKey about how budgeting can benefit college students in the future.

Loan participation is a strategic tool for credit unions to manage their loan portfolios, diversify risk, and enhance liquidity by selling portions of loans to other institutions. Sellers can choose between two primary methods: direct placement, which offers a personalized approach with specific buyers, and marketplace platforms that increase visibility and reach a larger pool of potential buyers. Catalyst provides both options; keep reading to learn more.

ATM-related crimes, including skimming and attacks on personnel, have spiked by a concerning 50% in the U.S. over the last three years. It's imperative to act now to safeguard your ATM fleets. Keep reading to learn about crucial security strategies that can significantly strengthen your defenses, expertly presented by Dolphin Debit.

Cooperative Business Services (CBS) offers expertise to help credit unions expand into commercial real estate lending. They assist in evaluating tenant financial stability, conducting market analysis, and reducing risks. CBS helps credit unions create safer and more profitable lending portfolios. Keep reading to learn more about their tailored services for launching Commercial Real Estate Lending Services.