CUSO Magazine

Overdraft fees have long been the topic of debate, with the CFPB looking to severely limit or get rid of them entirely and credit unions, in return, looking to get rid of the CFPB entirely. But there are two sides, maybe even three, to every story. Emily Claus examines the overdraft issue, the various perspectives on it, and what potential outcomes there might be.https://https://lnkd.in/gKJwCwxA

In 1728, Scottish Merchant William Hogg faced a unique problem. As a merchant of good standing, Hogg always ensured his suppliers were paid on time. However, all too often, his bills were due before he himself had been paid, leaving him in quite a difficult situation. Without having received proper payment, through no fault of his own, Hogg was left without enough funds in his accounts to cover his debts. The Royal Bank of Scotland, seeing the bind Hogg was in, and knowing he was consistent in paying his bills, worked with the merchant to find a solution. The answer?...https://lnkd.in/gKJwCwxA

Bo McDonald of Your Marketing Co covers the top three trends impacting credit union marketing at the moment and how credit unions are using these to drive growth.https://https://lnkd.in/gGXDuc5w

Last week at a meeting of the NCUA Board of Directors, the members voted 2-1 in favor of two proposed rules: one on incentive-based compensation and another a revised proposal on succession planning. The incentive-based compensation rule addresses requirements laid out in the Dodd-Frank Wall Street Reform and Consumer Protection Act. It was originally proposed by the board in 2016. Per the NCUA’s press release: “The rule was adopted by the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, and the Office of the Comptroller of the Currency on May 6. The Board of Governors of the Federal Reserve...https://lnkd.in/eneR5mp4

Kasey Olchowski explains the benefits of having regular check-ins with your employees, even after their orientation period, and what insights this can bring an organization.https://https://lnkd.in/gC2kqGyY

There are a number of vendors to line up before a credit union can open its doors, but figuring out where to start can be overwhelming and difficult. Doug Collins covers all the key relationships De Novo credit unions should look to build in the months before opening.https://https://lnkd.in/gwFkVVmX

A recent industry study offers insight on how quickly credit unions are adapting new digital tools and automation for internal workflows and what might be holding others back from doing so.https://https://lnkd.in/geTxDT3R

Selected for an outstanding commitment to cooperation and collaboration, Michigan Legacy Credit Union is proud to announce it has been awarded Xtend's 2024 Randy Karnes Credit Union Collaboration of the Year Award.https://https://lnkd.in/eVmBj5ba

Selected for an outstanding commitment to cooperation and collaboration, Michigan Legacy Credit Union is proud to announce it has been awarded Xtend's 2024 Randy Karnes Credit Union Collaboration of the Year Award.https://https://lnkd.in/eVmBj5ba

NCUA Chairman Todd M. Harper, Vice Chairman Kyle Hauptman, and Board Member Tanya Otsuka all provided remarks on Diversity, Equity, and Inclusion at the NCUA's recent DEI Summit, Emily Claus reports. https://lnkd.in/gnnpD-AP