How Higher Interest Rates May Affect Your Credit Union’s Sub-Debt Strategy
Recently, the economic environment has been turned on its head, and the effects present new challenges to credit unions. As a result, credit unions must proactively and strategically plan to navigate issues such as decreased deposits, dips in lending, and higher interest rates. During periods like this, “just-in-time” capital may provide the peace of mind […]
How to Scale Your Charitable Giving: Key Decisions for Credit Unions
With a philosophy of “people helping people,” community outreach and charitable giving play critical roles in a credit union’s overall strategy. Credit unions of all sizes strive to engage their members and community through various initiatives and events, with some being more effective than others. So what does it take for your credit union’s charitable […]
How Treasury Management Services Can Give Credit Unions a Competitive Advantage
From scalability to increased fee revenue to capturing more non-interest-bearing deposits, there are several reasons credit unions would want to expand their offerings to business members. However, until recently, big banks have generally cornered the business services area of the market. Many credit unions have lacked the resources, expertise, or scalable capabilities to offer full-scale […]
How Fintech Can Help Credit Unions Stay Competitive
JPMorgan Chase currently invests $12 billion in technology annually, which is twice as much as the IT budget of credit unions nationwide—combined. For this reason, it’s becoming increasingly challenging for credit unions to keep pace with the technology, research, and development of larger financial institutions. To stay relevant and continue improving client experiences and offerings, […]
How Credit Unions Can Develop “Ready-Now” CEO Candidates
Executive succession planning and finding someone to step into a CEO position is a critical role of your credit union’s board. When done strategically, an active approach to succession planning can help organizations develop internal candidates into “ready-now” executives and position them for a CEO role years before a current leader leaves their position. While […]
Fortify Your Credit Union Exit
If you haven’t built a legacy plan, you could be missing unexpected opportunities and insight that could benefit your organization today, even before you leave. Maurice Smith, CEO of Local Government Federal Credit Union, shares the many lessons he learned from his legacy planning coaching and how he’s using his experience in his current role […]
Is the Design of Your Credit Union’s Split-Dollar Plan Sustainable?
Collateral assignment split-dollar plans are a powerful executive benefit with favorable tax treatment that can incentivize retention and offer credit union leaders a long-term income stream in retirement. However, while many credit unions have collateral assignment split-dollar plans as part of their executive benefits mix, it is no secret that these tools are more complex […]
How Credit Unions Can Create Strategic Alignment
Amidst the challenges of the pandemic and an increasingly competitive talent market, credit unions are reevaluating their strategic game plans as they head into the future. However, what happens when executives and board members lack direction or aren’t on the same page? On “C.U. on the Show,” Doug welcomes guest Peter Myers, senior vice president […]
Direct Indexing: Tax-Focused Investing for Credit Union Leaders
Credit union executives nearing retirement must find strategic ways to manage their taxes and income due to drastic tax rate changes post-retirement and following distributions from various compensation benefits such as the collateral assignment split-dollar. One solution that is proving effective for credit union leaders is direct indexing. Our direct indexing brochure provides an overview […]
What Is Direct Indexing and How Can It Benefit Credit Union Executives?
Wes Johnson, CERTIFIED FINANCIAL PLANNER™ practitioner and co-founder of ACT Advisors, joins Doug on “C.U. on the Show” to discuss direct indexing, a tax-focused investment strategy. The relatively new investment approach provides several benefits to investors, including tax opportunities, customization, and no-cost trading. Wes and Doug dive into the strategy and explain why it can […]
