Commentary

A mobile triple play describes a financial institutions offering when it provides customers access to mobile banking in a total of three ways: mobile browser, text and mobile application.

The use of contact data is changing for credit unions. Today, financial institutions are using contact data to ensure that communications reach members and prospects, but, perhaps more importantly, those institutions are also leveraging contact information to better understand their members through database consolidation and a single member view.

Of the many Gen Y nicknames one that really fascinates me is trophy kids, referring to the fact that when Gen Y members participated in activities as kids, where everyone was guaranteed a trophy. By receiving prizes even when their performance levels were poor, these kids avoided feeling like losers....

One thing is unavoidable for all credit unions consumer behavior continues to shift toward virtual service channels.

The credit union industry has made excellent member service a cornerstone of our business model. For current credit union members, this approach seems to have worked; according to a Filene study, credit unions outperform banks for member/customer satisfaction.

Credit Union Times Editor-in-Chief Sarah Snell Cooke calls on Congress to expand member business lending authority and unleash jobs growth.