Commentary

In a recent survey, Card Services for Credit Unions (CSCU) asked our member CEOs to indicate the major issues they felt their credit union was facing, with respect to their credit card program. The majority answered "competition". How can a credit union, with its limited resources, begin to compete with...

Throughout their proud history, credit unions have been the most successful model of the power of co-operation and collaboration in the financial services industry. Through boom times and bust, this cooperative principle has retained its intrinsic value. This ethical structure has provided needed products, services and benefits to millions of...

How can credit unions enjoy the greatest benefits from Check 21? That's the question facing our industry now that Oct. 28 has come and gone. Last summer, hardware manufacturers, image exchange networks and service bureaus flooded the media with visions of the future. Seminars explained substitute checks and expedited re-crediting,...

A widespread effort's afoot within credit unions to change the way members are served. Like many of you, I spend a fair amount of time attempting to understand our members, and designing unique ways to meet their needs. Through my research I found it is common to hear from young...

The financial services community has finally welcomed Check 21, promising a more efficient payments system. Since most credit unions have already been truncating checks for years, they, in particular, are uniquely positioned to implement Check 21. Others however, have a bit more work to do in terms of public relations....

The elections are now just days away, but no matter how the political landscape changes as a result, there is a consistent political imperative for credit unions: we must stay as strong and outspoken, committed and active, and focused in defending our movement's tax status as we were this last...

In August 2001, the NCUA General Counsel's Office issued a legal opinion that permitted credit union employees to be licensed to sell securities. The NCUA also removed regulations that prevented credit unions from fully realizing the benefits of the networking arrangements aunder the 1993 Chubb Letter. In response to the...

The credit union industry is facing a transition - from paper-driven processes to an electronically enabled world, where paper is available where desired, but not necessary. Innovative firms are finding new ways to capitalize on the ability to capture and process their business electronically to reduce the costs and errors...