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 […]
Credit Union Debt Repayment Fintechs
With climbing delinquencies and falling savings, credit risk has been an ongoing concern for credit unions. As far as the NCUA is concerned, it’s right up there with liquidity risk. But the solution can’t just be to lend less. That’s no good for anyone. Instead, credit unions should help people manage and repay outstanding debt. […]
Dear Credit Unions: Financial Education Isn’t Enough
You’ve probably seen headlines that say things like “74% of Gen Z wants access to more financial education,” or “Gen Z isn’t financially literate (yet).” The gist of all these articles is the same: Young people say that financial literacy will alleviate some of their money problems. But let’s not pretend that financial education is […]
The Best Credit Union Liquidity Tools (to Generate Deposits)
It might be overblown to call it a “credit union liquidity crisis,” but there certainly is a pressing need for deposits. So, what can credit unions do? For starters, they can provide members with the tools they need to achieve their own financial goals. By helping members save, credit unions can guarantee themselves deposits. It’s […]
Death of a Member? The Best Solutions for Credit Unions
A percentage of credit union members pass away each year. Their accounts close and their assets transfer to inheritors. On top of grief, inheritors deal with the logistical nightmare of financial paperwork. This is not the most comfortable topic to discuss, but it’s still incredibly important. Read on to see how your credit union can […]
Retaining Deposits After Member Retirement (ft. Silvur)
Much ado is already being made about the great generational wealth transfer on the horizon. We’ve made some ado of it ourselves. But before the big wealth transfer even, there’s another one on the horizon: Retirees dramatically consolidate their FI relationships as they enter retirement because they want to simplify their lives and hold onto […]
Vertice AI’s Data-Driven Credit Union Member Engagement Platform
Ask 10 people what growth marketing is and you’ll get 11 different answers. Consequently, it’s hard to make sure everyone’s on the same page when it comes to strategies to grow credit union member engagement and participation. In credit unions, this is especially true. Should you start with developing an indirect dealer network? What about […]
Balancing Stronger Security with Member Experience
Two monumental figures loom large these days: $4 billion in consumer identity protection costs (like LifeLock), and a whopping $40 billion institutional burden to cover the fraud, and that doesn’t even include the cost of cybersecurity to combat fraud. So how do credit unions continue to add layers of security without also adding more complexity […]
Credit Unions, UPTIQ, and Choosing Your Borrowers
The lending process is improving constantly. Automation, AI, and new underwriting criteria allow lenders to book more loans with less risk every day. These are cherries on top, but they can’t save sub-par loans. Fortunately, some loans are already near perfect as is. Read on to learn more about UPTIQ, the RIAs they work with, […]
Calque and the Credit Union Trade-In Mortgage
Sometimes, a member wants to buy a new home. But before they can afford one, they need to sell their existing one. Their new mortgage is contingent on a home sale. So, what does your credit union do? There are a couple of options, usually starting with “nothing” and ending with “bridge loan.” But Calque […]