Three Things That Make Your Disaster Recovery Plan Work

The NCUA requires every credit union to have a disaster recovery plan. But a plan is just words on paper unless you take three important steps. Some guidance is offered in our Strategic Link partner article this week, by CUNA Mutual Group.

Effective Compliance Management Program Should Include Complaint Tracking

Why would a credit union want to establish complaint tracking and management processes? The short answer is: “Because regulators are looking at your complaints.” Also in today’s Anthem: Legal Briefs, and the Question of the Week: “If a member wants to purchase a cashier’s check for $9,975 with a service fee of $50 and pays in cash, is the credit union required to file a Currency Transaction Report?”

‘Simplified’ Mortgage Disclosures Won’t Be a Simple Change for Credit Unions

Complying with the Consumer Financial Protection Bureau’s first six mortgage rules, which became effective in January, didn’t fundamentally change the mortgage process for members. Complying with the seventh new rule, however, will absolutely change the disclosures and mortgage process for your members.

CU Direct to Pay 3-Percent Dividend to Shareholders; Autoland Earnings Beat Forecasts

CU Direct announces that will pay a 3-percent cash dividend to its 102 credit union shareholders — the ninth consecutive year that it has paid a dividend. Autoland, Inc. reports increased earnings for the third straight year; gross margin, vehicle sales and the CUSO’s auto-loan-to-sale-retention rate all increased, the company says.

Spokane Chapter Paying the Way to Credit Union Day at the Capitol

The Spokane Chapter of Credit Unions has offered to pay the way to Credit Union Day at the Capitol next week for one person from each of its 18 member credit unions. So far, nine have accepted the offer.

Seven Things You Can Do Today to Create Your Branch of the Future

Rapidly changing consumer behavior has made the branch as we know it today irrelevant to many, but the truth is that consumers still want a personal relationship with their financial institution. The good news is that by focusing on the consumer experience, you can start to meaningfully transform your branches today without having to build a new and expensive showpiece.

CO-OP Financial Services Offers Full Suite of Member-Service Solutions

Financial-services technology is evolving faster than ever, but members still value the personal touches that have traditionally helped differentiate credit unions from big banks. To bridge that gap, CO-OP Financial Services is offering a fully integrated portfolio of products and services that help credit unions compete in a challenging marketplace.

Express Credit Union Partners with City of Seattle to Help Vulnerable Consumers Gain Basic Financial Skills

When the city of Seattle opens six “Financial Empowerment Centers” in 2014 to help vulnerable consumers gain fundamental financial skills, Community Tellers from Express Credit Union and Express Advantage will play a significant role.

CFPB Launches Web Tool to Help Consumers Find Housing Counselors

The Consumer Financial Protection Bureau has launched an online tool to help consumers find local HUD-approved counseling agencies.

Generating Non-Interest Income in a Highly Regulated Environment

Credit unions looking for ways to remain viable and competitive can no longer rely on conducting business as usual. As the opportunities to generate fees from traditional services are reduced, many are concerned with how to maintain a level of income that allows them to offer the services that keep them competitive. It’s a challenging balancing act at best.

Do You Have the Technology Know-How to Effectively Manage Your IT Contracts?

Technology is an integral part of how financial institutions operate and provide account holders with the products and services they need, but technology agreements can be lengthy and confusing. And if you aren’t familiar with the terms and language used to describe the conditions and intricacies of the services you receive, your contract could be more beneficial to your vendors than to your organization.

Stang to Senate: Make Credit Union Tax Exemption a Priority

From the C-suite to the front line, credit union leadership and members are being asked to tell Congress not to tax their credit unions. For NWCUA president/CEO Troy Stang, it’s a mission to walk the talk.

CFPB Publishes Compliance Guides for the Loan Originator and Mortgage Servicing Rules

The CFPB has issued another round of new “plain-English” rule overviews; the latest addressing Loan Originator and Mortgage Servicing Rules. The weekly compliance report covers the bases for credit union professionals.

Calling Credit Union Volunteers to NWCUF Day at JA Finance Park June 3

The new high-tech, hands-on JA Finance Park rolls into the Portland area June 3, with an opportunity for credit union volunteers to help students navigate personal finance. The facility includes a credit union, funded with a grant from the Northwest Credit Union Foundation.

Sprint Offers Discounts to Members, and Income Incentives for Participating Credit Unions

Credit unions can earn non-interest income by offering Sprint discounts to their members. The deadline to sign up for 2013 benefits is May 30. Some of the credit unions that participated in 2012 received checks for more than $20,000.

Credit Unions Poised to Capitalize on Consumers’ Demand for Emerging Retail Products and Services

Credit unions can respond to consumer demands for next generation tools and payment forms to reframe member relationships. A CSCU whitepaper analyzing consumer research is available.

Strategic Link Question of the Week

Our credit union was thinking about purchasing another ATM to provide some further convenience for our members. Is there a better solution to provide member convenience? Could you tell me some more about the CO-OP Network?

Strategic Link Question of the Week

“What is the newest product or service available to credit unions through Strategic Link?”