Jessica Qiao

Some institutions have seen application volumes rise by more than 300% following the Fed's emergency rate cuts, but there are fears that CUs who bulk up on home loans now could pay the price later.

Member business loans have been on a roller coaster over the last year and as the pandemic impacts the economy, executives will need to closely monitor these portfolios to catch any problematic credits.

Some institutions say the combination of chatbots and social media could entice new borrowers, but burdensome legacy systems may limit their effectiveness.

Slowing sales, decreasing market share and other factors could make it harder for credit unions to grow one of the industry's biggest products in the year ahead.

Consumers may be concerned about a possible economic downturn next year, but credit union marketers have no plans to curtail their spending in 2020.

The Mechanicsburg, Pa.-based credit union has revamped its financial literacy offerings to align with in-school curricula on the topic developed by the Pennsylvania Department of Education.

Credit unions in the Garden State are frequently at the bottom of national rankings for key financial metrics. Further consolidation is likely needed to help bolster these results.

Even with fee revenue already down, Oregon-based Providence FCU has cut its overdraft fees by half. Some analysts say the move could pay off if the economy goes south.

Patricia Husic, president and CEO of Centric Financial, had her bank start offering self-defense training sessions for her workforce, roughly 60% of whom are women.

During the past year, Dorothy Savarese has pushed her bank's employees to think more creatively, introducing an innovation contest to facilitate the sharing of fresh ideas within the institution.

Whether it's new loan products or the chance to make a first impression with potential members, the start of the academic year offers a host of growth opportunities.

Executives of the Wisconsin bank realized employees weren't getting enough direction so they adopted a strategy that breaks objectives into smaller steps.

Employees of the Minnesota bank get a $500 "self-improvement allowance" each year.

CUs can't always offer the same salaries as fintech startups and major corporations, but a host of strategies can help them recruit those candidates and keep them for the long haul.

Kendall Garrison will lead the Austin, Texas-based institution after its current CEO, Paul Trylko, retires at the end of this year.

Large banks are going from more rural areas to expand in cities like Pittsburgh. Credit unions in the affected markets will have to adapt to survive.

The Cincinnati regional bank says it will spend an extra $15 million a year to offer more competitive pay that it hopes will attract talented front-line employees.

Total and core deposits fell in the second quarter from three months earlier at the Los Angeles bank as consumers sought higher yields, but CEO Matt Wagner said assuring proper funding for loan growth is a priority.

Ousted CEO Alan Kaufman pleaded not guilty after being charged with accepting favors from a businessman in exchange for favorable treatment by the credit union.

Charles Friederichs, already serving in an interim capacity, has been appointed permanent CEO of the $1.1 billion-asset institution.