Reinvention, Technology, And Regulation

Callahan’s leadership team weighs in on what’s happening around the industry.

The Issue At Hand:

EMBRACE TOMORROW BY STARTING TODAY

Our Take: Despite a struggling economy and a cascade of new regulations from Washington, credit unions have strengthened their position in the market over the past five years. Nearly seven million more member-owners have joined the credit union movement, deposit balances have increased more than $230 billion, credit unions’ share of the mortgage market has more than doubled, and total capital has risen more than 25% to $118 billion. Things are going well that’s why now is the perfect time to start thinking about how to turn your business model, product line, and culture upside down. As William Shakespeare said, Better three hours too soon than a minute too late
From The Callahan Report, January 2014

The Issue At Hand:

WHY TECHNOLOGY DESERVES A SEAT AT THE EXECUTIVE TABLE

Our Take: Credit union leaders must know not only how to identify the latest and greatest technology trends, but also be savvy enough to develop a business case for whether or not these solutions will actually benefit the institution. It takes a specific skillset to successfully translate technology know-how into bottom-line opportunities. Luckily, individuals with these abilities aren’t nearly as rare as you might believe. In fact, they may already exist at your credit union. The real questions are how can you best identify them, and how do you get them a seat at the planning table?
From The Callahan Report, February 2014

The Issue At Hand:

THE POWER OF A COOPERATIVE REGULATOR MODEL

Our Take: The actions of the NCUA board during the November meeting and its subsequent commentaries illustrate a lack of meaningful interaction between the agency and credit unions. The problem, however, is not only the standard practice of political leaders issuing sound bites to explain vital decisions, but also the absence of meaningful dialogue before or after acting on critical issues. Although substantive interactions between NCUA and the credit union community are lacking, the good news is that a better model exists at the state regulatory level. An example from Ohio demonstrates how regulators and the regulated can make constructive, mutually beneficial decisions without undermining the other party’s role in the system. The problem we’re facing today is not personalities it’s institutional structure.
FromState Chartering Offers An Example Of A Better Cooperative Regulator Modelon CreditUnions.com.

April 11, 2014

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