Fintech

Redwood Credit Union has survived and succeeded the past few years by essentially doing the opposite of what everyone else was doing.

Many have stated a reluctance to return to previous debt loads, which could impact balance sheets for the next five to 10 years.

The credit union mission, "people helping people," becomes inherent in these hard times; the call for local charitable support is greater than ever.

Forth Worth Community CU emerged from the recent recession saying it has been reminded of one important lesson: the importance of a diversified marketing strategy.

The recession led Ent FCU to take a different approach to its collections process, including rebranding its collections department, and beefing up its staff.

There is such a thing as too many loan promotions. CP FCU learned that the hard way.

One lesson that should not have been learned during the recession to: trying to minimize or even eliminate risk altogether.

If credit unions learn just one thing from the recession, it should be that they're not just tied together through the cooperative spirit-they are also bound together for better or worse as a regulated industry.

The credit union needs to serve its members, but stick to the same credit mix that management calculated that the credit union could handle during "normal" times.

We are not just sitting in our offices, waiting for the members to come to us with their needs; we are proactively reaching out to our members and the community.