Nice quick video by 11:FS on the challenges and opportunities facing credit unions. The ground credit unions occupy on the banking battlefield is under attack. With big banks approaching on one side and digital challengers on the other, the time for credit unions to act is now. Watch this: https://lnkd.in/eMEWVf8D At Backbase, we believe that credit unions have a very important role to play and can act from an area of strength with the trust they have from the local communities they serve and the members they have. By playing to these strengths, their purpose, tailored to their segments and enhanced with the right balance between human and digital - they can be highly successful. if you want to understand more, please see how we help Navy Federal Credit Union (the largest Credit Union in the world) achieve just this here: https://lnkd.in/etakqgnm
Jarno van Hurne’s Post
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Corporate Central is a credit union for credit unions, and that's why credit unions across the nation depend on our staff for trustworthy information and advice. Learn more: https://lnkd.in/dMNKf3B #CorporateCentral #CreditUnions #CUDifference
Credit Unions Rely on Corporate Central for Trustworthy Information and Advice
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Want to keep up to date with what's going on in the credit union world? Subscribe to The Credit Union Connection newsletter to stay updated on all the latest happenings with just a touch of panache! https://loom.ly/yzfG2IA #creditunions #newsletter #news
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Unlock the transformative power of credit unions with our latest blog post. Read more at https://lnkd.in/guJmeQ69. #SuccessCreditUnion #TransformativeBanking
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Dive into the latest 1Q 2024 Credit Union Performance Report as you seek a relevant guidepost for where other credit unions stand in comparison with yours. https://lnkd.in/gTdwpG-K #CaliforniaCreditUnions #NevadaCreditUnions #CANVLeagues
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Great insight into core issues of failed credit unions in the last decade. Many of these core risks can be greatly reduced or have proper oversight when partnering with Fintechs. Fintechs like MANTL have embedded software to reduce fraud by almost 70% in account origination. Fintechs like Total Expert and Glia can mitigate risk by actively analyzing data and highlighting key metrics for credit union employees.
I work with and help small credit unions ($50 million or less in assets) by preparing strategic/business plans, evaluating their financial and member performance and by training new CEOs, including first time CEOs.
Why credit unions fail and what can be done to prevent it!
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Boost your Wednesday with thrilling chances in #dataanalytics! Discover concealed advantages for credit unions & link up with pros at zurl.co/BGYf to elevate your growth strategies. #WednesdayWisdom
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Connecting with younger generations is crucial for credit unions to remain competitive and relevant. As digital-first functionality becomes essential, embracing digital transformation and catering to the preferences of younger generations like Gen Z and Millennials ensures credit unions can thrive in the evolving financial landscape.
Credit Unions' Way Forward: Why Credit Unions Need to Connect with Younger Generations? #CustomerEngagement #CreditUnions
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Want to keep up to date with what's going on in the credit union world? Subscribe to The Credit Union Connection newsletter to stay updated on all the latest happenings with just a touch of panache! https://loom.ly/yzfG2IA #creditunions #newsletter
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"Provisions for loan losses was the biggest factor. They were 1.18% of average assets in the first quarter, up from 96% a year earlier, but down from 1.67% in the fourth quarter." "Loans at least 60 days late were 1.33% of total loan value on March 31, up from the 0.89% delinquency rate of March 2023, but unchanged from Dec. 31. The net charge-off ratio was 1.78%, up from 1.18% a year earlier, and down from 1.98% in the fourth quarter."
Top 10 Credit Unions: Earnings Rise From Q4 to Q1
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My concern is that credit unions like other organizations may not be sharing this information until it is too late for membership to object in force. How many members are actually going to the credit union's website and reading the blog or the newsletter? Or opening snail mail? Many communications are marketing oriented as opposed to relating actual news or what items are coming before the board, etc. And the average member does not have time to review board agendas and minutes. This piece implies that some in Washington will be asking questions. In the examples provided, maybe they should. I'm rather surprised to hear about a credit union that bought a bank three states away. What is the story behind that? How do existing members benefit? There are real advantages to having credit unions that serve a geographical contiguous area. Was there not a credit union within the state that could have bought this bank? How do you successfully manage and oversee a single credit union branch that's hundreds of miles from the other branches and what does that imply about your future expansion throughout the region?
There's a lot of off-the-record talk going on among credit union leaders that needs to get on the record. https://lnkd.in/edYCA6xR
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