How members use your credit card products will be changing. Digital wallets and digital and mobile payments are taking hold in the marketplace. But before you look down the road, you must hit the guideposts of a successful credit card program.
Loans for All Reasons
CUs built their reputation on a willingness to lend to members despite the challenges that life might sometimes present. While auto loans and mortgages are the primary drivers of CU loan portfolios, many CUs provide credit to meet members’ lifestyle needs.
CSR: The Power of Social Good
CUs traditionally use corporate social responsibility practices to attract members, grow revenue, and achieve competitive differentiation. But an emerging trend among CUs is harnessing social responsibility as a risk-mitigation tool.
Highlights from the America’s CU Conference in Seattle.
Let’s scrub away the awareness gap.
Auto lending is the driving force behind big loan gains.
This Money Maven won a top CUNA CFO Council award.
ADVANCING THE VISION
PenFed infuses “best and brightest” college students with the CU difference.
CFPB announces small-dollar lending rule.
THE DO’S AND DON’TS OF PULLING CREDIT REPORTS
CUs must have a “permissible purpose” to obtain a consumer report.
Add active shooter incidents to your safety plan.
TOOLS OF THE TRADE
Many CUs successfully finance and consolidate college debt.
The discussion boards on CUNA’s Compliance Community featured an interesting discussion last week: what is the difference between the terms “share draft” and “checking account”? The correct use is important since credit unions pay dividends, not interest.