Menu
Posted: Mar 27, 2019
Comments: 0
Author: Lou Grilli

Data analytics was once the sole domain of giant tech companies – Amazon’s suggestions “If you bought that you might like this” or Facebook’s algorithms of which of your friend’s posts you most want to see on your timeline. With the proliferation of data across multiple systems, the increase in computing power at a decreasing price, and tools to extract and harness data, the science of data analytics is being increasingly used by credit unions to make better decisions. And it’s not just bigger credit unions that are introducing business intelligence through data analytics to their staff. Credit unions with under $500 million in assets realize that data analytics drive ROI, better member experiences, and increases in product penetration across their member base.

Read more
Posted: Mar 5, 2019
Comments: 0
Author: Erika Hill

Enhancing member experience has been the subject of many blogs and white papers, and there is a reason why this topic is so popular. In fact, there are three good reasons why this topic is especially relevant now.

  1. Competition - Competition among financial institutions, challenger and online banks is getting fierce. Banks and online financial institutions like Marcus and Ally need your members’ deposits to fund their loan activity and are offering higher returns for their business. Also, the huge credit card issuers want to put their cards in your members’ wallets and are enticing them to do so with sign-up bonuses. Plus, every financial institution wants your best members’ loan activity on their income sheets.
Read more
Posted: Feb 14, 2019
Comments: 0

Many credit unions are struggling to retain members and capture the wave of increased credit union membership the industry is experiencing despite paying out a record level of membership dividends, helping members affected by the recent government shut down, maintaining lower rates and fees, and providing stellar member experience.

Read more
Posted: Feb 7, 2019
Comments: 0
Author: Randy Daigle

CECL is One of Them

So, you can now breathe a little easier, just a little, with the Financial Accounting Standards Board (“FASB”) officially delaying Current Expected Credit Loss (“CECL”) implementation to fiscal years beginning after December 2021. Basically, the credit union will need to move from estimating Allowance Loan and Lease Losses (“ALLL”) based on averages of historical losses (that is, looking in the rear-view mirror) to developing future predictive models to estimate loan losses and to set loss reserves in 2022. This must be done for each individual loan booked, on the day the loan closes, and ongoing throughout the loan.

Read more
Posted: Jan 31, 2019
Comments: 0
Author: Lou Grilli

At a time of year when analysts and bloggers are posting their predictions for the year ahead, Trellance’s President & CEO, Tom Davis weighed in with his predictions for 2019 in two recent CU Today articles. Read them here and here.

His views are based, in part, on a survey conducted amongst Trellance members on the areas they will focus on and invest in for 2019.

Read more
RSS
12345678910Last

search

Featured Stories