Though Catholic credit unions face many of the same challenges others do, they also must contend with some concerns that are specific to serving a religious organization, which is what pushed 11 credit unions that all serve Catholic churches to band together.
Increasing concerns about data breaches were among the reasons executives at Sebasticook Valley Federal Credit Union decided to undertake a core conversion along with a network update. more »
CUs in North Dakota's oil country have to be ready to respond to the ebb and flow of the energy market, with the attendant ebb and flow of members and money and the specter of increased delinquency. more »
The number of credit union charters is decreasing at a rate of about one every business day mostly small CUs that are being merged out of existence. But some experts suggest there a number of tools these institutions should be using to not only survive, but thrive.
Despite recent major gains in loans and membership, CUs have seen costs rise while other key ratios such as ROAA and net interest margin have slipped, calling for a focus on cutting costs.
As credit unions continue to experience robust growth in auto lending, the need to polish up their underwriting and decision processes also grows as well as managing all the data that comes with it.
Philosophically speaking, credit unions are member-centric, but in order to stay in business so they can keep helping those members, here are some expert strategies for boosting profitability.
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Pentagon FCU has launched the first ad in a series of ads that will be released over the next two weeks and broadcast in several key markets across the country.