At this point, it’s a cliché to predict the downfall of big banks. Forecast for years, it wasn’t until the 2008 financial crisis when cracks appeared in the business foundation. Fintechs still ranked as somewhat of a novelty and posed no threat to the established giants. Fast forward to the present—where the leading brands give some financial Read More
Inefficiency in lending makes it tough for financial institutions to service customers effectively and grow the loan portfolio. Many of these inefficiencies are inherited and accepted as “just the way we do things.” But to work smarter—not necessarily harder—and provide customers a good experience, fresh ideas and processes can challenge the inefficiencies. Across the banking industry, loan Read More
How much should community banks and credit unions pay their employees in the current tough banking market? That’s a question that we probed in the 2014 edition of our Retail Salary and Benefits Study for Community Banks and Credit Unions. We found that over the past 22 years, salary and benefits (S&B) rates for front-line employees, on Read More
In 2013, credit union membership grew to over 96 million, up almost 3% from 2012. To continue this growth and retain members, credit unions need to look critically at their Member Effort Score (MES), a valuable indicator for predicting member activity and improving loyalty. Today, credit unions and other financial institutions have their pick of data points Read More
