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Articles by Bernie Winne
Understanding our leadership triggers
Even the most seasoned and successful leaders get triggered. It could be a Board Member making a comment after the CEO Update that makes your face flush or a COO coming into your office complaining about the lack of staffing in the call center again. Maybe it’s your VP of Risk who is overstepping relative to the internal audit and now you’re receiving complaints from senior management. Or perhaps your CTO has delivered bad news about your core conversion project timeline. Maybe you keep your cool.
Lending Perspectives: 5 habits of top-producing loan officers
In the competitive world of lending, becoming a top-producing loan officer requires more than just originating new loans and taking applications. It demands a combination of skills, strategies and habits that elevate member service and drive success. Here are five key habits I’ve learned as VP/consumer & home lending at Travis Credit Union that set top-performing loan officers apart. Successful loan officers transcend the traditional role of a mere transactional intermediary.
CFPB’s contentious credit card rule will face stiff challenge
The future of the Consumer Financial Protection Bureau’s final credit card late fee rule may be decided in the courts. Or by Congress. Or by voters in the 2024 Election. On March 5, the CFPB issued its final rule governing credit card late fees. The rule will lower most credit card late fees to $8.00 at financial institutions with more than one million open accounts. The 338-page rule is effective 60 days after it is published in the Federal Register. continue reading »
FedNow: Pros and cons
Has your credit union considered the possibilities of integrating with FedNow? As FedNow is a relatively new player in the financial landscape, many institutions are still navigating through the potential benefits and challenges it may bring to their operations. Wondering if FedNow aligns with your credit union’s goals and objectives? Dive into this blog post to make a well-informed decision. Real-time payments FedNow promises to revolutionize the speed at which transactions are processed.
Gasoline, shelter costs drive US inflation higher in February
U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting stickiness in inflation that cast some doubts on whether the Federal Reserve would start cutting interest rates in June. February marked the second straight month of firmer inflation readings. Inflation-weary Americans, however, got some relief from their grocery bills, as food prices were unchanged.
3 Questions with Lodestar's Andrea Brown
CUInsight Publisher & CEO Lauren Culp is joined by Andrea Brown, SVP of Growth at Lodestar for a quick interview with just 3 questions about Lodestar… Three questions: (0:30) What really sets Lodestar apart from other data warehouses? (2:05) How does Lodestar work with clients to ensure they are maximizing the value of their investment in a data warehouse? (3:27) We know you’re a Fiserv DNA partner – is that the only core you work with?
Throat punch! What’s yours?
“What is the throat punch?” That is the first question I always ask my team as we’re working on a creative brief for a client. First, you’re likely wondering, “What in the world is a throat punch?” A throat punch is the opening line of your message that instantly grabs the attention of whoever you are trying to reach. “XYZ Credit Union is a not-for-profit financial institution open to those who—” ZZZ… This is not a throat punch, it’s a dose of NyQuil™.
Why credit unions are primed to revolutionize financial services in the U.S.
When the economic analysts of the future look back on 2024, it could easily be seen as the year that credit unions transformed the United States’ financial services sector. Certainly, the timing is ripe for credit unions to grab the multiple, technology-driven opportunities happening right now across the U.S. By doing so, they have a very real chance to shake up the financial services sector for the better, and make an indelible mark on its future, for both current and future generations.
Biden budget proposal requests $325M for CDFI Fund, $4M for CDRLF
President Joe Biden’s budget request for fiscal year 2025 contains $325 million for the Treasury’s Community Development Financial Institutions (CDFI) Fund, an increase of $1 million from the 2023 level. Credit unions are 516 of the 1,460 certified CDFIs nationwide—the largest proportion by financial institution type.
The art of slowing down: Enhancing networking conversations
In the fast-paced world of conferences like the recent America’s Credit Unions Governmental Affairs Conference (GAC), where credit union professionals converge to exchange ideas, build relationships, and stay abreast of industry trends, it’s easy to get caught up in the whirlwind of activities. Amidst the hustle and bustle, the art of slowing down becomes a valuable skill, especially when it comes to fostering meaningful conversations and building genuine connections.
A credit union board's greatest responsibility
Much has been written and spoken at credit union conferences on the topic of succession planning for the CEO position in credit unions. Yet, despite all the conversation, a large number of credit unions are woefully unprepared for the time when their CEO expresses his/her desire to retire. This conversation should not be a surprise to the Board members especially when it occurs at an age-appropriate time in the CEO’s life.
Goodbye to a good friend
At the conclusion of Thursday’s NCUA Board Meeting, Board Member McWatters offered his final comments as his term has come to an end and his successor has been nominated and scheduled for a confirmation vote on Aug. 5.
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