When planning for the future, CUs have to provide members with what they want, said Ivan Askwith, a producer and consultant who was head of digital for Lucasfilm. The reason the railroad industry collapsed, Askwith said, is because “they thought they were in the business of railroads instead of transportation.”
To avoid a similar fate, CUs need to offer members what they want, tell them what they want to hear, and forge stronger connections with them. Drawing parallels to the world of entertainment and brands such as “Star Wars,” Askwith said members will use your services but fans “will evangelize for you.”
“When fans love something they actually fight for it,” Askwith said.
Since CUNA’s compliance staff compiled a list of changes in mortgage interest reporting under the IRS’s Form 1098, several questions have arisen. CUNA’s compliance staff has been able to connect with a coalition of consumer mortgage lenders to provide answers.
After months of advocacy by CUNA, the CFPB Thursday wrote to CUNA announcing it will initiate a rulemaking this summer to address issues with the bureau’s Truth in Lending Act-Real Estate Settlement Procedures Act integrated disclosures rule.