Growth strategies

Not all small CUs say they're not seeing strong membership growth.

The Pennsylvania Credit Union Association believes connecting small credit unions with NCUA regional supervisory teams, and the league's compliance staff, is helping small CUs better cope with regulatory and compliance issues.

INDIANAPOLIS – Finance Center FCU has signed with CUSO Financial Services for its managed program with which managers and investment advisors are employed and managed by CFS.

GREAT FALLS, Mont. – Sixth-grade students at Roosevelt Elementary School learned important financial lessons last week while a local foundation staked them to their first savings accounts at Montana FCU.

HUNTSVILLE, Ala. – Redstone FCU announced the formation of Redstone Consulting Group, LLC, for the purpose of offering business solutions to credit unions and banks.

FORT WAYNE, Ind. – 3Rivers FCU has signed with CUSO Financial Services to offer the company’s dual program.

BURBANK, Calif. – Lockheed FCU said today it is changing its name to Logix FCU on July 9, becoming the latest credit union giant to de-emphasize its long-time ties to a major corporate employer.

RANDOLPH, N.J. – Tri-CO FCU said it signed with On Your Way to implement the company’s web portal solution for engaging, educating and retaining Generation Y (ages 18-32) members and prospects.

Credit unions often lose auto loans to dealerships without even knowing their members were looking, in part because the members didn't know, either.

Financial institutions of every stripe will need to look for new products and services to make up for non-interest income that previously was generated from fees on deposit accounts, according to one analysis.

With most CU investments paying so little today, Jim Park recommends that credit unions look to make an investment in their card base.

Jeff Baxter wastes little time getting to the heart of the matter: "The first question is always, 'What is this all about? How do you go from being a rock guitar player to the dark side of the military intelligence community?'"

Billy Beane's life has changed a bit in recent years following release of the movie "Moneyball," in which Brad Pitt played him.

Often, the best perspective is an outside perspective, and last week CUs got more than a half-dozen, including from a former Doobie Brother who is now a defense expert. From an online purveyor of luxury goods. And from a man whom Brad Pitt played in a movie.

Credit unions were offered some ideas on becoming a "cult brand," from one company that has managed to do just that.

Put a group of people in a room and ask them about their banking relationships, and a fountain of angry complaints begins flowing. Yet most of those people never close those accounts or move to a credit union.

The world hardly needs another grocery or convenience store, yet Trader Joe's has managed to overcome all that and become a market leader.

No one knows risk management like NASA does, and one real-life "rocket scientist" urged credit unions to embrace risk if they want to innovate.

BOCA RATON, Fla. – Organizations seeking to become the worldwide leader in financial institutions got some lessons – and laughs – from the worldwide leader in sports.

BOCA RATON, Fla. – Video of a focus group of consumers made for some awkward and uncomfortable moments for credit unions, as the participants expressed views ranging from broad misunderstandings to negative assessments of credit unions.