AI vs AI: Effectiv’s Battle Against Fraud in Credit Unions
You can’t fight fire with fire, or so the saying goes. But in reality, there are niche cases where that is the exact prescription. As West Coasters, CU 2.0 is more than aware of that… But this isn’t about BCP or disaster recovery! This is about risk, fraud, and artificial intelligence (AI). Read on to […]
CryptoFi Eases the Credit Union Member Crypto Problem
Your members buy, hold, and sell cryptocurrencies. In fact, your members are more than twice as likely to engage with crypto than other consumers. And, with few exceptions, those member assets are being transferred to loosely regulated, unreliable online exchanges, and those assets might be gone for good from your ecosystem. What can you do […]
Greenlight Powers Credit Union Youth Accounts
Millennials and Gen Z don’t know what credit unions are. We said it years ago, and a recent study confirms it now: Credit unions just don’t know how to acquire and support younger members. Many credit union executives still use “Millennial” as shorthand for “youth,” but Millennials are now in their 40s. Many in Gen […]
Nesting Gives Startup and Tech Employees a Modern Mortgage
Normally, credit unions don’t give mortgages to people with high debt-to-income ratios, small down payments, and short job tenure. But then “doctor loans” allowed leverage on high income and job security afforded medical professionals. But physicians aren’t the only professional group that now have assets directly linked to high ability to repay despite a lack […]
Vertice AI and the “Hunter vs Farmer” Sales Question
During the last great recession, nobody trusted banks. Financial experts extolled the virtues of credit unions on national television. Credit unions gained 1% market share. Recently, several high-profile banks failed and sent shockwaves through the financial world. The biggest beneficiaries of scared consumers were the largest banks. Credit unions were barely affected. Clearly, credit unions […]
Sparrow Powers Credit Union Student Loans
Most credit unions don’t offer student loans and they don’t want to. Often, credit unions will point students towards a major national lender (i.e. Sallie Mae) in return for a small finder’s fee. This doesn’t give students many options or a good experience. Furthermore, it leaves a lot on the table for credit unions. There’s […]
What Is a Fintech Enablement Platform (and Why Would Credit Unions Want One?)
Credit unions have wide and varied technology needs. One credit union might be on the hunt for a product that another credit union deployed a decade ago. And those two products might end up totally different to suite their respective memberships. The result is that there’s no clear path toward digital transformation. And yet, the […]
Eko and Credit Union Investment Services Providers
Although most Americans say they’d prefer to invest through their financial institution, less than 0.5% of credit union members do. Most members invest outside of the credit union. They have 401ks and IRAs from employers. They have wealth managers and brokers. And, more commonly, they invest on their own, thanks to fintechs. Of course, members […]
How Credit Unions Can Provide Financial Wellness
With mounting consumer debt, rising delinquencies, and a slowing economy, credit union members are about to feel a pinch. And, while being money-wise won’t help as much as a bigger paycheck, it can make a lifelong difference for many. Credit unions are the institutional embodiment of community financial wellness. But are they doing enough to […]
Tailwind and Custom Software Development for Credit Unions
Credit unions are known for many things, such as member service, great rates, community involvement, and a lot of heart. Yet there’s a dark side, too. Heavy regulations, tight budget requirements, lighter staffing, and a lack of tailor-made solutions make for slower tech development and deployment than competitors. There may be a way around that. […]