UT state-chartered CUs under $10 million no longer required to follow CECL
As a direct result of the Association’s advocacy efforts, Utah state-chartered credit unions with assets of less than $10 million are no longer required to follow the Current Expected Credit Loss (CECL) methodology for calculating appropriate loan loss reserves. The change comes as the Utah Department of Financial Institutions (UDFI) has modified the rule affecting […]
@Lunch Networking Hosts Accounting Professionals
In a cozy @Lunch Networking round table, yesterday, accounting professionals from nine credit unions sat down to enjoy a sandwich and some good discussion on a range of topics. Conversation covered the sale leaseback of buildings, ALM practices, investment strategies, brokers, service providers, and ideas surrounding non-interest income and net interest margin. The round table […]
FROM OUR PARTNERS: Save to Win
What’s New with Save to Win? Members can now earn up to 100 entries each month! That’s 10 times as many as was previously allowed. Members can now earn up to 100 entries each month! Save to Win can now be offered as a Savings Account or a traditional CD Account. This means credit unions […]
Association Hosts Organizational Development @Lunch Networking
Yesterday, the Association hosted 13 credit union professionals from seven credit unions for an @Lunch Networking round table. The focus: organizational development, wherein all topics from HR, training, culture, and the like were fair game. Discussion lasted roughly two hours, with nary a quiet moment found. Discussion included the following topics: How to pull employees […]
FROM OUR PARTNERS: When Altruism Becomes a Setback to Equitable Executive Benefits
By Opal Tomashevska and Kwame Smith Many of the executives who lead today’s credit unions have been in the industry for decades. As such, they are full-time, passionate advocates of the people-over-profits philosophy. This is a great thing for the membership, staff and community. It can, however, have some drawbacks for the executive’s own financial […]
FROM OUR PARTNERS: Member Retention Secrets: Building Loyalty in a Competitive Landscape
Growth and expansion can often take center stage in strategic planning. But it’s important not to overlook the fundamental value of member retention. Members are deeply connected to the heartbeat of your credit union, so their loyalty is more than a metric – it’s the strategic key to navigating the dynamic shifts in our industry. […]
Collections @Lunch Networking Covers the Gamut
Fourteen credit union professionals from seven Utah credit unions popped into the Association office for the first @Lunch Networking round table. The topic: collections. Discussion started out with thoughts on hardship assistance, and whether processes for members were too difficult or effective enough, then quickly passed to just about every collections topic imaginable: · Details […]
CEOs @Lunch Networking Discuss the Economy and Pressure on Income
Yesterday at the second of the Association’s @Lunch Networking round tables, 14 CEOs from Utah’s credit unions broke bread while discussing everything from where to purchase loan pools to the CFPB’s effort to curtail fee income to margin compression as rates remain elevated. The CEOs had extensive discussion about how the CFPB and NCUA […]
FROM OUR PARTNERS: Research: Expectations & Concerns Drive Borrower Behaviors
By Erika Romenesko, Strategy Manager, Lending Member Experience, TruStageTM Money matters are top of mind for a lot of people today. Clickable economic headlines, charismatic financial influencers and the rising costs of nearly everything are definitely contributing to consumers’ increased financial anxiety. Worry often sparks action. Indeed, new research from TruStageTM indicates that consumers are […]
