Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by Lauer PC
Getting the credit union mojo back
In the last century, credit unions were formed with the concept of “people helping people.” Credit unions filled a niche in the financial marketplace that banks did not serve well. Credit unions competed on price, service and convenience. With volunteers, simple financial services and donated space from sponsoring companies and churches, the cost savings were passed along to the members. Credit unions served small tight knit groups and offered highly personalized services.
Do CUSOs really make a difference?
Forming and operating a CUSO takes time and effort. CUSOs tend to help credit unions reduce costs and make revenue from other sources but are CUSOs really worth the effort? It is a legitimate question. How can we measure the effectiveness of CUSOs?
Our members need a cookie jar
Our world outlook will be forever shaped by our COVID experience. COVID has exposed personal and financial weaknesses. We feel more vulnerable, less secure, and less in control. This lack of control causes fear and anxiety at levels many members have never before experienced. These feelings will not disappear completely when the COVID threat lessens. The threat of COVID-20 and other unknowns will be in the back of our minds.
Credit union response to COVID-19
This new normal is very stressful. People are concerned about their health and their finances. The government is advising and, in some areas, requiring people stay home. Businesses are being closed. Workers are being laid-off. There will be well-underwritten credit union loans to members that will default. How should credit unions respond? If there was ever a time to demonstrate value to members, it is now. If a credit union has the capital to take some risk, it is time to deploy the capital.
Avoiding a Blockbuster future
I have been around credit unions a long time. I work with really smart and forward thinking credit union colleagues. But there are a lot of credit union folks, including examiners and regulators who think that credit unions can just operate as they did in the last century and all will be fine.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with Lauer
Contact Lauer, search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack