Budget Challenge: Meet Credit Union Strategic Goals, Innovate AND Keep The Lights On
Members are the driving force behind all your credit union’s activities, and that’s understandable. Not only does your business strategy focus foremost on fulfilling their needs, but with directors who are members it’s a given that member interests will be top of the priority list.
Budget Season: What It Takes To Win Hearts, Minds, And Wallets
Through ups and downs, thick and thin, traditional and emerging schemes, one thing remains constant for credit unions: budgeting season. As we all know, October is the month credit unions start to strategically plan and budget for the coming year and beyond. The season typically begins with big ideas for growth and improving customer relationships, but sadly ends with a tight budget that reflects must-do tasks driven by government regulations.
Analytics as The Fuel for Innovation – Implementing Analytics at OCCU
Andrew Bertrand, Data Analyst at Our Community Credit Union in Shelton Washington, discusses how small to medium sized credit unions can get started with analytics, his career in marketing and how it prepared him for analytics, interesting use cases and how he leverages OnApproach to meet his analytics needs.
Is Your Credit Union Leveraging Its Greatest Tool For Income And Profitability?
The future of your Credit Union depends upon how you adapt to the changing landscape of the financial industry. One aspect of the change is leveraging your greatest tool for fee income—debit and credit card interchange revenue. Take a look at some of the emerging strategies, then compare them to your CU’s current approach.
4 Areas To Monitor To Grow Your Credit Union Interchange Revenue In 2017
Credit union interchange revenue is a key part of every credit union’s bottom line. Credit Unions have seen impressive growth and the industry looks to continue this expansion by growing markets size and keeping pace with improving technology trends. However, despite this growth, there are several factors that can limit your interchange revenue if you don’t keep a careful watch on them.
The Sticky Card: Credit Unions Can Influence Which Cards Their Members Choose To Make Purchases
Most consumers have at least three credit cards from various sources. In addition, many people also carry one or two debits cards and a mix of gift and loyalty cards. A recent Gallup poll showed most Americans foresee the death of cash in their lifetimes, meaning all purchases will be made with credit and debit cards, as well as other forms of electronic payment.
Apple Pay, Google Wallet And The Rise Of Online Payment Innovations
Digital payments are not new. PayPal came to life in 1998 as a money transferring platform. By the year 2000, people were using it to make payments on eBay. Early in 2002, PayPal went public and by August of that year, eBay announced it was acquiring the payment platform in a deal valued at $1.5 billion. At the time, experts called PayPal the “gorilla” of the online payment market, much as eBay was the gorilla in the online auction market.
The Importance Of Keeping Up With Technology For CUs
nnel optimization. Data management. Compliance and regulation. Cybersecurity. Aggregation services. For credit unions (CUs), keeping up with technology in all areas of business can be a significant challenge. Your CU stands to lose with a ‘Johnny-come-lately’ approach to innovation, however, so staying abreast is important to remain relevant in the competitive financial services industry.
SetIt And Citadel Federal Credit Union Join Forces To Improve Cardholder Experience
As consumers increasingly shop online and pay bills with debit and credit cards, it’s more important than ever for credit unions to improve cardholder experience, providing them swift, easy access to accounts and data anytime, anywhere.
Creating Digital Ambassadors: Why CU Employees Need To Be Digital Wallet Experts
First impressions count, no matter how much you want to believe otherwise. This is true regardless whether you’re talking about huge corporate endeavors or community-level organizations. When your credit union (CU) customers want help accessing your products and services, the frontline staff need to be well-versed ambassadors for your brand who are ready and capable of providing it. Here are our reasons for this: