As we head into 2019, all signs continue pointing towards a more digital future in payments. A report from earlier this month found that 29 percent of Americans now make zero weekly purchases with cash, with the percentage of people who use cash for everything dropping from 24 to 18 percent since 2015.[1] Given that my
In today’s highly competitive environment, credit unions cannot rely solely on growing new account openings to stay ahead of the competition. The truth is, community institutions are extremely adept at retaining members once they come in the door. In fact, the majority of account closures result from elements beyond the institution’s control (such as job
The nation’s largest credit unions had a strong increase in third-quarter net income with higher margins from interest and lower provisions for losses. A CU Times analysis of the latest NCUA call reports shows the top ranked credit unions generated $778.1 million in net income in the three months that ended Sept. 30—20.1% more than
Michigan regulators have approved the formation of Credit Union Trust, a special purpose bank that will allow a group of seven credit unions to provide investment and trust services directly to members, its organizers announced Monday. While credit unions routinely provide a range of wealth management services for their members, they were unable to directly
The MACUMA Annual Business Meeting is scheduled for Thursday, December 13, at 5:00 pm at the Key Bridge Marriott in Arlington, Virginia. At the meeting, the following slate of nominees will be presented to the membership to begin/continue three-year terms on the MACUMA board of directors: Stephen Harrell (renewing term), Lafayette FCU Bill Hawkins (renewing
Lingering legacy technology, and fintech development speeding past their ability to stay up-to-date are some challenges facing credit unions in this era of fintech disruption, better member experience and digitization. Dealing with these IT challenges was a focus of the second part of a recent CU Times discussion with Ted Bilke, president of the Monett,
Larry Kelly, former president/CEO of Apple Federal Credit Union, was honored last month with the Lifetime Achievement Award at the MACUMA Annual Leadership Conference in Williamsburg, Virginia. This is MACUMA’s highest honor, given to a retired credit union individual who has given back to the profession. The awards dinner was led by master of ceremonies
MACUMA is thrilled to announce the addition of William Kennedy of HUD FCU and Francois Verleysen of Signal FCU to the MACUMA Board of Directors. Selected by appointment to fill two vacancies, both Bill and Francois will have the opportunity to run for the Board in the election this fall. Please join us in welcoming