Unlock 25% More in Assets With Personal Strategic Financial Planning
ACT Advisors is proud to release our white paper, The 125% Credit Union Executive, where we explain how financial planning is one of the least expensive benefits a credit union can provide its executives while significantly improving their financial outcomes — by as much as 25%. Executive benefits present many complexities that require personal financial […]
Executive Compensation Factors Credit Unions Should Evaluate Before a Merger or Acquisition
Has your credit union board considered partnering with a stronger credit union to expand your field of membership, improve the quality of your services, or mitigate financial concerns? Perhaps your board members and executives have already begun having informal conversations to see which institutions align best with your membership, employees, and community values. While it […]
How Credit Unions Can Partner With Fintech Companies and Stay Competitive
When we think about what draws members to your credit unions, we generally point out the low rates, accessibility, convenience, and trust as compared to your bank counterparts. However, when we consider that financial technology (fintech) companies such as PayPal and Square are coming onto the scene more rapidly and picking up more of the […]
Is Your CU Sub-Debt Approved?
Overlooking secondary capital in the subordinated debt (sub-debt) market could put your credit union behind when planned and unplanned investment opportunities arise. Jeff Cardone, Partner/Attorney at Luse Gorman, shares why your credit union may consider getting pre-approved for sub-debt sooner rather than later. Stream the Episode What Subordinated Debt Is and How Credit Unions […]
How Credit Union CEOs Can Make Bold Moves and Balance Personal Risk—At the Same Time
When is the appropriate time to undertake your boldest or most innovative projects? As a credit union CEO, you’ve likely considered how the risk of significant organizational changes may affect your future employment, and ultimately, long-term finances. These risks may arise from financial strain on your credit union or political challenges among your board. We’re […]
Risks Credit Union Executives and Boards Should Consider With Collateral Assignment Split-Dollar Plans
Many credit union boards propose adding a collateral assignment split-dollar plan (CASD) as a desirable compensation benefit to help retain their top executives. At first glance, a CASD appears to perform similarly to a pension plan. However, this benefit is quite complex, and misunderstanding or making assumptions about a CASD could lead to more risks […]
How Strategic CEO Succession Planning Can Position Internal Executives for Success
Planning to exit your organization as a credit union CEO ideally occurs years before your anticipated retirement date. Strategic credit union leaders understand the logistical and emotional process ahead of them. As a result, succession planning is an essential component to ensure the credit union’s success in the future, and the confidence of the credit […]
How Credit Union Executives May Optimize Early Retirement Cash Flow to Secure Low-Cost Medical Insurance
Early retirement may be a goal you’ve been working toward your entire career by strategically saving, allocating your risk, and positioning your personal finances.. As a credit union executive, if you choose to retire before age 65, the age at which most people qualify for Medicare, you may also have to consider how to secure […]
How Credit Unions May Overcome Income Challenges with a Charitable Donation Account
Credit unions across the country are currently facing a common challenge—how to create more yield and income. They traditionally rely on reinvesting money from lending products as one form of income. However, due to the increase in government stimulus payments and record-low loan growth, credit unions have had to find alternative income-generating sources to offset […]
How Credit Unions with Highly Compensated Executives Can Avoid the 21% Non-Profit Excise Tax
Do any of your executives currently earn more than $1 million in annual income? Perhaps not. But consider additional benefits and compensation for retirement, such as a 457(f); do any of your executives exceed the $1 million a year mark? These are the questions credit unions have begun to ask since the 2017 Tax Act […]