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…

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.

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.

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? 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?

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 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.

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.

Now nearly two months into the new year, the sudden shock of 2020 is slowly fading, and we can finally catch our breath…right? Well, the fresh start also inches us closer to the impending CECL transition. Despite hope that the implementation date might get pushed out amidst the COVID-19 pandemic, it appears January 1, 2023 is standing firm. However, the NCUA did provide a little relief, allowing credit unions to spread out the impact on net worth over a few years.

You may be hearing a lot about P2P in 2021. That would not be surprising. Interest in P2P payments had already been growing in recent years – and changes in consumer behavior brought about by the COVID-19 pandemic have given it a boost.