Industry News

Hi!! We are back with another #HumanitarianHighlight! Watching love grow one community at a time, is what we love to see! If you know of a credit union or are part of one that has gone above and beyond in helping, please let us know by tagging #HumanitarianHighlight or simply contact us on any of our social media platforms. L&N Federal Credit Union Donated $2 million to the University of Louisville athletics for their upcoming projects. The money will be invested in the Cardinals’ “Next Step Fund”. “We are incredibly appreciative of L&N Federal Credit Union’s support, along with Chris Brown…

Have you heard the good news? Credit union lending is on the rise. In 2018, many credit unions outsold banks. That’s right. According to the latest Federal Reserve report, credit unions passed banks by securing more loans for credit cards and automobiles. That’s great news! In light of this, we thought it would be a good idea to walk through a lending checklist with you. We know you’ll want to position yourself to take advantage of the momentum. Awareness. Are your members aware of the different types of loans you offer? Each member has the potential to become a new…

Hello and welcome back to another #HumanitarianHighlight! We are so excited to be sharing some out of this world credit unions who have demonstrated the true meaning of #CUdifference. If you or know of any credit union that went above and beyond for their community, use #HumanitarianHighlihgt to be featured on our page!  Bay Atlantic Federal Credit Union Taking part in a community gesture to help kids in need, is such an astounding act of kindness. Bay Atlantic FCU has alerted their social media following that they are holding a Kid Friendly Food Drive from May 1st through June 30th. The…

In a recent Credit Union Times Expert Opinion Column, ITIN Lending & Compliance: Cutting Through the Fog, Oak Tree's CEO talks about ITIN Lending, and how it represents growth opportunities for credit unions. Here is an excerpt from the article:  " ITIN lending represents a solid marketing demographic for credit unions. Is your credit union taking full advantage of it? If not, you should be. Here’s why. The Filene Research Institute recently concluded its incubator loan project in December 2017, with ITIN lending being the most popular segment of the experiment. The program introduced the following five loan packages to immigrants/minorities: Automobile refinance…

It is our favorite time of the week, #HumanitarianHighlight day! The thing we love about this industry, is that many credit unions always take the time to help the community, in an effort to create a better living environment for those in need. We can not stress enough how incredibly grateful we are to all those helping out in any way possible. If you know of a credit union or are part of one that has gone above and beyond in helping, please let us know by tagging #HumanitarianHighlight or simply contact us on any of our social media platforms.…

In a recemt article, Oak Tree's CEO discusses the fundamentals of risk-based lending. The best way to know how to steer away from this tricky topic, is to follow these steps accordingly. Another topic needing to be discussed is the difference between Compliance and the Letter of Law. A piece of the article states, "It is illegal for any credit union to use the aforementioned reasons as a basis to refuse a loan to any member, discourage members from applying for loans, provide different credit terms for members with similar creditworthiness situations, or close member accounts. The best way to avoid a…

It is that time of the week everyone, #HumanitarianHighlight day!! These credit unions have demonstrated their #CUdifference within their communities and we can't be more proud to share their experiences and inspirations with you all. If you went above and beyond for your community and want to be given a shout out, use the hashtag #HumanitarianHighlight to be featured on our page!  Collins Community Credit Union Do you know what’s the best thing about working for a credit union? Partaking in different event to help benefit those in need! Collins Community CU devoted their time in participating in the 2019 Fight…

Due diligence is the number one most important step any C-level executive has to complete in order to move forward with an agreement or contract with a third-party vendor. This process is crucial to any company, but one must be wise when going over all the legal obligations. Think of due diligence as a domino effect. If something goes wrong with any third-party vendor, what precautions should the company take to keep true of the due diligence? Or if a data breach happens, what would be the proper steps a CU must take in order to complete all the steps…

It's finally that time of the week, #HumanitarianHighlight day!! We love hearing about credit unions take the stand in helping out their community. It truly is an inspiration to see and witness their efforts in wanting to uplift those who are in tough situations. If your credit union would ever like to be in our future HH posts, use the #HumanitarianHighlight so we can see what amazing acts of kindness you all have done and please let us know if you have any questions or comments!!  Credit Union Association Of The Dakotas During the Sioux Falls Stampede Hockey Club game, Southeast…

In an article written by Richard Gallagher, CEO of Oak Tree Business Systems, Inc. exemplifies the true fundamentals of form integrations and credit union mergers. Ever wonder what the key is to surviving the credit union industry or what to do when any document changes occurs? Find out more by reading the full article on CEO Advisory.  "When credit unions merge, forms and disclosures integrate from under the umbrella of the surviving credit union. Even if the non-surviving credit union keeps the same name, forms will need to be addressed as they will now be a member of the surviving credit…