Bob Meara (left), senior analyst with Celent, presents research on consumers' use of branches.
Steve Kubala (right), senior vice president/chief operating officer for University FCU in Austin, Texas, discussed his credit union's innovative self-service model that blends technology, culture, and organizational change. During its first six months, the initiative saved more than $400,000 per branch in annual operating costs and more than doubled sales productivity.
University FCU was named a Celent Model Financial Institution in 2013.
The Department of Labor will publish its final rule Wednesday regarding employees’ eligibility for overtime pay--a rule which CUNA believes will have unintended negative consequences for credit unions, particularly smaller credit unions and those in non-metropolitan areas.
Further CUNA analysis of the U.S. Department of Labor’s overtime rule found minor relief, but CUNA remains concerned about the increased burden on credit unions. Several CUNA-suggested changes were included in the final rule.
Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.