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Saturday, February 28, 2015
Six Reasons CUs Aren't Happy With RBC2
Despite being a self-described "unabashed supporter" of NCUA, Truliant FCU CEO Marc Schaefer offers six reasons the agency's risk-based capital proposal – even after significant revision – doesn't fly with credit union executives.
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Many financial institutions have become cold and impersonal. It has become a chore to have to go into them and when you do, you can't wait to get out. Credit unions are supposed to be different. more »
Instead of going through the front "technology" door at financial institutions, where CUs have stronger information security programs in place, they're taking the side door — through retail chains and third-party vendors. more »
Great boards have great dynamics among their fellow members. Contemporary research points to a parallel between successful board dynamics and overall value for a credit union. more »
Clearly, that letter, penned by Tom Pinnow, president of County City CU in Jefferson, Wis., had touched a nerve. You can read it on page 6 of this edition of Credit Union Journal under the headline "If Small CUs Die Off, What Happens to Movement?" more »
At the top of the agenda for Thursday's NCUA Board meeting is a review of how the agency defines small. One small CU suggests this is a hugely important topic for the industry. more »
Paying for goods and services over the Internet in a variety of ways, from directly keying-in card details on ecommerce sites, to using online wallets, to paying with your phone, is more consumer friendly than ever. more »
Bartlett's article noted that Lake Michigan Credit Union in Grand Rapids emphasized the importance of creating a corporate culture that aligns with its mission and vision. more »
A growing promotional trend being utilized by credit unions is the offering of prize-linked savings (PLS) products, which provide consumers with the chance to win prizes in exchange for the consumer making one or more deposits into a savings account. more »
Moreover, the pro-dividenders argue, the special bonus dividend helps demonstrate the "credit union difference" in a concrete, tangible—and easily publicized—way. more »
NCUA's revised RBC — so-called RBC 2.0 — clearly demonstrates that the agency listened to the more than 2,000 stakeholders that made their voices heard with comment letters. more »
Capital modernization is the generational issue of credit unions today. more »
While NCUA's revised RBC rule is an improvement on the original proposal, NAFCU says it's still unnecessary. more »
Immediately after NCUA unveiled its eagerly awaited revised risk-based capital proposed rule, some credit union executives took to Credit Union Journal's website to sound off on it. more »
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Don't Bank At Mazuma CU?
This ironic spot from Mazuma CU offers viewers a list of reasons NOT to bank at the credit union.
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