Charge offs continue to plague credit unions; hurting bottom lines, causing dramatic cuts to expenses and ultimately decreasing the value delivered to members. Some areas, such as Florida, California, Arizona and Nevada, are especially feeling this pain. However, by changing your marketing focus, you may be able to substantially change the position of your credit union. We call this approach Reverse Marketing.(Read article...)
Most likely you and other credit union managers have spent more hours reading NCUA bulletins, NAFCU proposals and sitting in more webinars in the past few weeks than you’d ever like to count. The “bail out” of US Central and the corporate credit unions, as we’ll call it, has many on edge. How much do you have to pay? What will your bottom line look like to members? How will you combat the media’s negative reports? What if a corporate credit union actually failed – where will you shift your drafts, ACH, etc?
No doubt the situation with the corporates has credit unions uneasy about their future and the overall impact of the solution. However, opportunity is born from such great challenges. (Read
article...)
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