6 Reasons Your Members Don't Heart You on Social Media

By Preston Packer |

Apr

28

Your credit union has decided to dedicate some resources to improving your social media presence. By now, you most likely have the basics:  A Facebook page, perhaps even a twitter account. You post once or twice a week, maybe even less depending on how busy you are with other daily activities. Most small and medium-sized credit unions don't have the deep pockets to warrant a fully-staffed marketing department, so the task of updating your pages is in the hands of your executive team or more likely the youngest/hippest employee on your payroll.

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Are You Tired of the Monster in Your Server Room?

By Preston Packer |

Apr

26

Have you ever heard the term "Feed the Monster"? It's when someone has a problem and rather than do what it takes to fix it, they "feed the monster" and continue in their useless cycles. So, let me ask you a question: If your credit union pays so much money to its technology vendors, why do you still have to manage that monster in the server room? Some credit union executives like to walk by the server room and see the blinking lights and endless wires but it's probably safe to say that most view their server as a stressful and expensive piece of hardware that they'd rather someone else manage and maintain. Some credit unions have the budget for qualified IT departments that can handle such tasks but imagine what other important tasks your IT staff could be doing if they didn't have to worry about server uptime.

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Public Vs. Private: Which Cloud is Right for Your Credit Union?

By Preston Packer |

Apr

21

 
Before deciding to shift some of your operations to the cloud, it's important to remember that cloud adoption is an overall business strategy for your CU, not just a function of IT. For most, a credit union cloud solution is in line with the CU's overall business goals of increased efficiency and cost control, and its adoption will streamline many aspects of your operations. Once your cloud strategy is set, you have to decide what model of cloud will be best for your credit union.
 
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6 Myths About Credit Union Cloud Computing, Debunked

By Preston Packer |

Apr

19

Cloud adoption has continued to increase across the financial sector. In fact, it's gone rapidly from early adopters to mainstream in the technology adoption life cycle, but some credit union executives are still lagging behind due to common concerns about hosted data storage and credit union cloud solutions. Let's look at the six most common myths about credit union cloud computing, and we'll tell you why they are worth further investigation and reconsidering the fear:

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What Credit Union Core Processors Won't Tell You

By Preston Packer |

Apr

14

We talk a good deal about trust when it comes to credit unions. For example, in the article Credit Union's Emphasis on Trust Holds True, we identified that trust in credit unions among their members is 60%, compared to 30% customers' trust in big banks. Likewise, credit union executives consistently rank trust as the top priority in vendor relations. While a silver-tongued sales person can paint the Sistine chapel in your mind, it doesn't make it a reality. Partnering with a credit union core system vendor you can trust is paramount to flashy sales tactics. Here are some questions to ask when undergoing a core system review to determine if you can trust your candidates:
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How Well Do Your Members Rate Your Mobile Banking App?

By Preston Packer |

Apr

12

There is no question whether mobile banking is the latest fad or gimmick; it’s the latest expectation. The credit union arena has continued to evolve with mobile banking and members are drawing conclusions about CU’s based on their experience with their apps. Members expect their credit unions to provide them with the fastest, most secure and most convenient options when it comes to mobile banking. In 2016, according to creditunions.com, 48.4% of the 108 million credit union members used their provider’s mobile banking or website applications, and 55% of all credit unions have mobile banking capabilities. With such a strong emphasis on mobile, is your digital experience best-of-breed or run-of-the-mill?

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The Three Things Millennials Expect From Their Mobile Banking App

By Preston Packer |

Apr

07

Mobile banking has become an important pillar of success to credit unions, and even more important to your members. In today’s banking climate, Millennials are the most sought after demographic, and it’s no news that they have entered the game with expectations on mobile banking. Millennials are leading the change towards paperless banking and as the largest generation (85-90 million people), this demand should be taken seriously. Americanbanker.com states that 92% of Millennials choose a bank based on its digital services. Here are three things Millennials will expect from your mobile banking app and how you can capture their membership?

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6 Sure Fire Ways to Make Your Members Feel Valued

By Preston Packer |

Apr

05


Making your members feel valued is one of the intangible ways to retain current members and attract new ones. When members feel important, their loyalty grows. In business, it is a proven fact that keeping a customer costs less than trying to acquire a new one, and the same is true for credit unions. Here are a few tips and tricks for ensuring that your credit union member services are making your members feel valued:

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9 Ways the Credit Union Industry Collaborates, Where Banks Don't

By Preston Packer |

Mar

31

col·lab·o·ra·tion
kəˌlabəˈrāSH(ə)n/
noun: the action of working with someone to produce or create something.

It's not a word you often think of in relation to the financial sector, but you should. Credit Unions are uniquely positioned in the financial services industry in a way banks never can be. The differentiation centers around collaboration among CU's, which is both encouraged and practiced. CU's work together to provide their members with services and benefits otherwise not found in traditional banks, all while promoting the credit union industry as a whole. Banks are not the same, and here are nine examples of that:

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Don't Have the Resources for a Full-Time Compliance Officer?

By Preston Packer |

Mar

28

Running a successful credit union takes strategic budgeting to get the most out of every dollar. You need to offer best-in-class services without "breaking the bank." Success equally relies on smart investments in membership. A CU with a membership full of loan defaulters and money launderers is not going to be around very long. CUs need to screen their potential members and monitor transactions to stay aware and in front of potential red flag situations. This is a job for trained compliance and risk officers - staff members tasked with leading the due diligence on member history, account behavior, and transactions to detect and prevent potentially costly mistakes. But what if, like most small to mid-sized credit unions, you can't afford one?
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