IT Integrations
Without Core Values, capitalism fails us all
A recent story on CBS’s “60 Minutes” discussed the widespread use of child labor by a company called PSSI, owned by Blackstone. This story and many more that have percolated up in the past few years tell a story about what happens when the capitalistic need for profits outweighs any alignment with corporate responsibility and…
Read MoreCUSOs for sustainability and economies of scale.
Like most financial institutions, credit unions face challenges in staying relevant in a rapidly evolving financial landscape. Many credit unions have turned to Credit Union Service Organizations (CUSOs) to help them leverage their collective resources and expertise. CUSOs are separate legal entities formed by credit unions to provide specific services to their members. CUSOs have…
Read MoreCooperation Among Cooperatives – The credit union Superpower.
While credit unions operate independently, their superpower is their ability to collaborate and cooperate. You will never see a community bank joining its competitor. But credit unions are financial cooperatives; the sixth principle of a cooperative is “Cooperation Among Cooperatives.” By collaborating credit unions will enhance their collective strength and effectiveness in the following ways:…
Read MoreThe Pathway to an effective hybrid workforce
Out of necessity, the concept of a hybrid workforce has gained immense popularity due to the pandemic. However, out of urgency, most companies transitioned to a remote or hybrid workforce “on the fly.” Now companies are trying to build a sustainable hybrid model that balances the flexibility of remote work and the benefits of in-person…
Read MoreInnovative is a core value; how do I get there?
Many credit unions I work with have “innovative” in their core values because thriving organizations know innovation is critical to their long-term success. We also know that organizations that fail to innovate risk being left behind in an ever-changing and competitive marketplace. No, it is unlikely that a credit union will become like Apple or…
Read MoreIs Data Governance an option? No, it is not!
Data is at the core of every modern organization, from small startups to large multinational corporations. It is what drives businesses, informs decision-making, and provides insights into customer behavior, industry trends, and market opportunities. However, with the increasing amount of data generated daily, it is becoming increasingly difficult for organizations to manage and govern their…
Read MoreDo your Data “Bytes” Have a Bad Aftertaste?
We all know how important data is to our credit union. Let’s face it; we are addicted to reports. We love our reports. We compare day to day, month to month, year to year, and peer to peer. But, let’s get real; we run two reports side by side, and, oh the horrors, the numbers…
Read MoreReport Inconsistencies are Frustrating
One of the biggest frustrations found in most credit unions is the numbers between two or more departments don’t jive. The conversation almost always leans toward trying to figure out which data set is correct, which one to believe. The ultimate goal for these organizations is to find that elusive “one source of truth.” So,…
Read MoreThree Things That Go Wrong with Data Reports
A consistent issue most credit unions have is the lack of consistency from one report to the next. To diagnose why this inconsistency exists we should look first at these three elements of the report: Timing – two reports run at two different end times or interval times will tell different stories. But it’s not…
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