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Posted: Mar 5, 2019
Categories: Marketing, Consulting
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.
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Posted: Feb 14, 2019
Categories: Marketing, Consulting
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.

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Posted: Feb 7, 2019
Categories: Consulting
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.

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Posted: Jan 31, 2019
Categories: Consulting
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.

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Posted: Dec 6, 2018
Categories: Regulations
Comments: 0

The Payments Review compliance feature occasionally highlights regulatory topics important to credit unions.

Federal regulators are reaching out and helping credit unions and community banks with a series of changes.


On October 3, 2018, Federal regulators ruled that credit unions and community banks can pool resources for anti-money laundering. The Wall Street Journal, citing a statement from the Federal Reserve, the Federal Deposit Insurance Corp., the Treasury Department, the Office of the Comptroller of the Currency and the National Credit Union Administration, reported that the decision was borne out of a working group that the agencies created to improve anti-money laundering processes. The decision is a more significant attempt to help strengthen money laundering defense in the US. However, the sharing of resources does not alleviate the responsibilities of the individual institution. It should also be noted that this does not change the existing legal and regulatory requirements. Additionally, if an institution decides to share resources, it should be done in the same manner as any other business relationship.

 

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