The Credit Union Journal is announcing its Call for Entries for its Best Practices awards. The Journal published its inaugural Best Practices issue in November 2005 and featured nearly two-dozen peer-leading ideas as selected by the editors. It's easy to enter! Nominations may be submitted by credit unions themselves, a CUSO or even another CU. For all readers, the Best Practice nominations are a means of recognizing those who have developed an idea and brought it to fruition. Nominations can also be submitted by suppliers to the credit union community that have clients they believe exemplify the best practice in implementing a particular product or service. The Credit Union Journal is soliciting your Best Practices across all disciplines, as we are seeking that unique idea your CU has put in place. The criteria are as follows: 1) Best practice must have been deployed since May 1, 2005. 2) Credit union (or vendor) selects (or even creates) a category and nominates itself/client CU. 3) The entry should include: 500 words or less on why it believes it has created a best practice within its operation. The nomination essay should include as many tangible measures as practical (including ROI where available) documenting the best practice; the background on environment prior to the implementation of the best practice; and factors driving adoption of the best practice, and any new products/solutions deployed to achieve the best practice. 4) A credit union may enter more than one category. 5) Nominations should be e-mailed to Managing Editor Lisa Freeman at lfreeman
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Andrew Foster, the bank's chief data officer, explained how he has been instilling data discipline across the organization and making the bank's data AI-ready.
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The Office of the Comptroller of the Currency will announce Senior staffers overseeing large, regional and community banks early next month, apparently reversing the unified approach to supervision it implemented earlier in the year.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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