How Credit Union Leaders Can Prepare to Serve On Boards
Serving on a board allows credit union leaders and those approaching retirement to continue advancing their mission-focused commitment, using their career experience, and making a difference in their community. However, finding and obtaining a board role, particularly a paid position, is not as simple as you may expect. Board members are strategic thought leaders who […]
How Credit Unions Can Capture Revenue from the Growth of Online Gambling
The online gambling market is growing as its activity has become more mainstream, and more states have passed laws allowing it. Although it was relatively common for credit unions to enable and accept transactions made in casinos before the pandemic, the restrictions that followed changed gambling behavior, resulting in a surge of transactions made on […]
Capital Markets and How Credit Unions Can Issue Subordinated Debt
Historically, credit unions have accessed capital through CDs, short- and long-term loans, and other investment funds to help them expand, generate income, and pursue strategic initiatives. However, as credit unions have grown over the years and offered more complex services, there is a demand to meet capital needs in creative ways. Loan participations and the […]
Why Target Date Funds are the Wrong Investment Vehicle for Many Credit Union Executives
Target date funds are popular for many 401(k) plan participants because they offer an investment strategy that automatically reduces risk as one approaches retirement. They’re especially effective for investors who don’t want to self-manage their retirement assets and younger investors under 50. Further, target date funds align with the needs of most credit union employees, […]
Risk Factors for Credit Unions to Consider When Designing a Split-Dollar Plan
When deciding which executive benefits to provide to your leadership team, your board may have landed on the benefits afforded by choosing a collateral assignment split-dollar plan. This benefit type is a legal agreement between the credit union and executive that incorporates retirement distributions with life insurance coverage. While split-dollar plans are relatively common, designing […]
How Credit Unions Can Create a Modern Workplace in a Competitive Job Market
Throughout the pandemic, transition to virtual work, and subsequent Great Resignation, employees are reflecting on what’s important to them in the workplace as companies return to the traditional work environment. However, many employers are challenged with a growing number of employees, particularly women, leaving the workforce to pursue more flexible work terms that promote personal […]
How Female Leaders Can Stand Out in the Credit Union Movement
According to data released by the Credit Union National Association (CUNA), 51% of credit union CEOs are women. Still, women are less represented in the credit union workplace now than in the 1980s. Jill Nowacki and Judy Tharp join C.U. on the Show to discuss common workplace challenges women face, how employers can recruit more […]
Preliminary Steps for Credit Unions Acquiring Another Financial Institution
In the first part of this interview, Doug and Jeff Cardone discussed the process, requirements, and questions credit unions should address before entering into a merger or acquisition (M&A) transaction. In the second part of the “C.U. on the Show” episode, Doug and Jeff delve into the acquiring or buying side of M&As and what […]
Why Financial Planning is an Essential Executive Benefit for Credit Union Leaders
Traditional financial planning offers practical tools for rank-and-file employees; however, it simply doesn’t capture the full breadth of complex financial situations and compensation benefits a credit union executive has to manage in the C-suite. For example, beyond a standard 401(k), executives may also have a 457(b), 457(f), or split-dollar plan with different income distribution timings […]
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 […]
