Management Quality

A September 11, 2019 article in news.cuna.org describes the challenges credit unions are facing as the deadline for Current Expected Credit Losses implementation looms.

Despite objections by CUNA that CECL should not apply to credit unions, NCUA intends to press ahead with the implementation according to the deadline. Credit unions need to be prepared and on schedule for CECL.

A September 9, 2019 article in apnews.com written by Martin Crutsinger describes how consumer borrowing in July, 2019 was the highest in two years.

This is good news for credit unions so long as they are participating in the loan growth, risk is being managed and lending is profitable.

Caroline Hroncich, in a September 3, 2019 article in benefitnews.com, writes that HSAs are expected to surge in coming years – perhaps becoming the IRAs of the future.

The big question for credit unions is the extent to be involved in services such as HSAs and how should they be priced and managed to assure Interest Rate Risk and profitability is managed appropriately.

Justin Fox, in a September 3, 2019 article in paymentssource.com, writes that security breaches are about to cost financial institutions even more than in the past.

These breach issues will also test consumers’ trust in their financial institutions. Credit unions will need to be constantly vigilant in their security practices and policies to mitigate as much as possible security breaches and meet regulations regarding security breaches.

In an August 19, 2019 article in paymentssource.com, written by Michael Moeser, it is written that debit cards are the most popular card at the gas pump.

This article also describes how Card Not Present fraud has risen even with the advent of embedding cards with chips. Credit unions face growing losses from fraud and must have policies and procedures in place to help mitigate fraud losses.

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