CUSO
A CEO Problem – The Domino Effect of High Turnover at the Teller Line
Often, the only time the C-Suite becomes involved in recruiting is during the search for a strategic leader. This makes sense, but it is also vital that the C-Suite fully appreciate the impact of high turnover lower in the credit union’s hierarchy and approach these challenges strategically. This deeper dive is essential because high turnover,…
Read MoreShould YOU Consider a Fractional Executive?
To thrive in today’s ever-evolving financial landscape, credit unions must adapt, innovate, and strategically manage their operations. One innovative solution that credit unions are increasingly turning to is the fractional executive. Fractional executives are experienced professionals who work, typically as contract employees, part-time or on a project basis, to provide specialized expertise and leadership. In…
Read MoreEmbedded Finance
Taking banking to where your members live their lives. Embedded finance refers to integrating financial products and services into non-financial platforms or businesses, allowing them to offer financial services seamlessly as part of their core offerings. This concept is gaining traction as technology advances and customer preferences evolve. In a credit union context, embedded finance…
Read MoreLessons from the Airline Cancellation Debacle
A credit union can draw some lessons from the past year’s major airline cancellation debacle. Here are some potential takeaways: It’s important to note that each industry has unique challenges and characteristics. Therefore, while credit unions can draw inspiration from other sectors’ experiences, they must adapt and tailor the lessons to their specific operations and…
Read MoreIndirect Auto Lending? Pros and Cons.
Indirect auto lending, where a credit union partners with car dealerships or a direct lending CUSO to offer financing to their customers, has become a popular method of expanding loan portfolios and attracting new members. However, like any financial service, there are both benefits and drawbacks associated with this approach. This article will explore the…
Read More8 Steps to a Successful Digital Transformation at a Credit Union
Digital transformation is necessary for credit unions to remain competitive in today’s rapidly evolving financial landscape. Embracing digital technologies can enhance member experiences, improve operational efficiency, and enable credit unions to meet their members’ evolving needs and expectations. All too often, we see credit unions doing much work to become digital or mobile-first, but often…
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