Commentary

In my 18 years in the credit union movement I have served in three credit unions, two federal CUs and Wescom, which is state chartered. Having been through both NCUA and state examinations I can say without reservation that the quality of oversight and examination done by our state CU...

As your members' wealth grows throughout their lifetime and they become more financially savvy, it takes sophisticated products and services to meet their expanding needs. Offering personal trust services as part of a comprehensive investment management program at your credit union is an essential method of meeting this increasing market...

How does an organization create an employee-focused culture? It requires being values-driven and having the values of the organization match the values of those working for you. The corporate values must be operationalized into daily systems and rewards given for the right performance. NIFCU's culture demonstrates binding corporate values reflected...

When evaluating bill payment and home banking services, credit unions will be faced with two bill payment models, good funds and risk-based. While differing in how payments are made, both models are viable options that can be used to serve members effectively. Good Funds The good funds model can be...

"It's the transactional element of checking accounts that keeps them the primary determinant of a consumer's PFI. Unlike the share accounts, the checking account is the one where money is constantly going in and out of. It's the one consumers monitor." - Tim Smith, director of credit union strategic marketing,...

Many questions have arisen from the Securities and Exchange Commission's stated intent to require credit unions to move their investment programs from Credit Union Service Organizations (CUSOs) to within the credit union. This confusion came as a result of enactment of banking modernization legislation (the Gramm-Leach-Bliley Act) and the National...

It is virtually impossible for anyone to achieve the American dream of financial independence if his or her primary financial institution is a pawn shop, title loan company or check cashing outlet. Financial independence for America's over 90 million `unbanked' or `underserved' individuals is indeed an elusive goal which they...

After cranking out a record $47.4 billion in first mortgage loans in 2001 (see table), credit union mortgage lenders will see slower mortgage activity as sated housing demand and higher interest rates affect the mortgage market in 2002. So what will slower real estate lending mean for credit union lending...