There is no denying that the COVID -19 crisis has ushered in a period of upheaval with significant implications for financial, political, social, cultural, and technological futures. This pandemic has taught us that the world can change in an instant. A year and a half later, while the global vaccination drive has represented a light […]
Chaguanas, Trinidad – June 4, 2021: The Central Finance Facility (CFF) and more than forty leaders and managers of its member credit unions met and strategized the pursuit of FinTech initiatives to enhance service to credit union members and increase credit union market share. These discussions were enabled at a CFF hosted Virtual Thought Leadership […]
Credit Unions were once known as the “small man’s bank” and the concept of sharing a common bond underscored member shared common experiences, needs and aspirations that allowed them to own and operate a credit union. Indeed, they would share among themselves these experiences and aspirations and build the credit union as the vehicle to […]
The Credit Union Movement’s Approach to Fostering Social and Economic Resilience for the ‘New Normal’ Introduction In times of any disaster, be it natural or otherwise, a need will always arise to strengthen social and economic resilience. If we are to be less vulnerable than we were for the Covid-19 pandemic, there will undoubtedly […]
Even before Covid-19, the finance industry was rapidly changing and steadily becoming more competitive. This was putting pressure on traditional lenders to evolve, preserve and grow their business, with Credit Unions (CUs) being no exception. With complications brought on by Covid-19, CUs must now find innovative ways to transform their financial services. They must strategize […]
In 2020, digital channels have become the preferred way to interact with financial organizations—73% of U.S. adults report being more likely to use digital financial services during the COVID-19 pandemic and there has been a 50% increase in the use of mobile banking apps from 2019. Given that COVID-19 does not differentiate, its impact is expected […]
Overview Credit Union Boards and officers have numerous responsibilities: they oversee management, finances, and quality; set strategic direction; build community relationships; establish ethical standards, values, and compliance; and select a general manager and monitor his or her progress. To carry out these functions effectively, they must exhibit appropriate behavior and adhere to structure. Appropriate […]
It was not too long ago that newspapers and radios were the leading news sources; from home phones in every house to cell phones in every pocket it is evident that times are changing. With changing times come changing generations and changing consumers. One such generation of consumers are the Millennials. Our world’s population has […]