Payment Industry Insider

To follow up on the savings conversation of a couple of weeks ago, I read an article recently by Sandra Simmons, President of Money Management Solutions. In the article, “10 Mistakes People Make With Their Money”, a couple of things struck me:
1. People habitually spend more than they make
and
2. People buy products and services based on [...]

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Savings -  is it a thing of the past, or can it be the new rage with consumers? Particularly young adults, the millenials.  How can you be an influence?
Christopher Morris Suggests Developing New Ideas
Christopher Morris, CUDE and Web Manager for CUNA Councils recently responded to an email on the DE (development educator) listserv about this [...]

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A friend of mine recently sent me an article written by Paul Saffo on “How to Do Well in a Recession.” It wasn’t really anything like what I was expecting. It was better! And, it fit so well with what credit unions are all about.
In his initial statements he was talking about a “startup” company and [...]

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A speaker at the recent CUNA Mutual Discovery Conference covered a very interesting topic: Ignore boomers’ needs and a credit union’s relevance erodes. How many credit unions are actively engaged in providing for this huge demographic?
But for some time now I’ve mostly heard about the “Y” Generation. And while they are a very important demographic group, what about [...]

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I liked the title of a recent USA Today “Letter to the Editor” so much that I kept it to kick this conversation off. There are a lot of people who have been responsible with their finances. Many of them are credit union folk. We – credit unions – have an opportunity and indeed a [...]

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Sound familiar? It should! These words form the very core of what credit unions are. But alas, they have almost been lost to a today world.
I was stirred up recently by a series of email notes exchanged among many DE (CU Development Educators) colleagues. It all started with a DE’s post seeking help in a [...]

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As reported by Payments News, NPR’s afternoon show, All Things Considered, recently included a segment titled “Rising Bank Fees Squeeze Consumers“. The article goes on to explain:
Last year, banks collected $38.6 billion in service charges, according to the Federal Deposit Insurance Corp. That translates into higher fees for overdrafting accounts, wiring money or using another [...]

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Credit unions are supposed to be member driven, aren’t they? And if they can’t “do it” themselves - meet members’ satisfaction – they need to find a solution. And merger might be the best solution.

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In the midst of a hugely competitive industry, where everywhere you turn there is a competitor shouting out their message to the world, how do credit unions get consumers to know who they are? To know what a credit union is and what it can do for them. These are questions that tax credit unions more today than ever. And, it’s not going to get any easier to answer.

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Many times we’ve talked about how the general public is on a downward spiral when it comes to their spending and that saving is no longer a priority. Though it is ultimately up to each individual to manage their own finances, I can’t honestly say that society hasn’t played a role in steering us down [...]

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