Blog

Prioritizing People: How Banks & Credit Unions Can Maintain High Employee Satisfaction

Posted by Keith Twisdale

employee-satisfaction

When it comes to talent management, it’s important that banks and credit unions focus not only on attracting and hiring top employees, but also on retaining them. High staff retention helps ensure consistent business operations, low overhead costs, and a positive company culture.

It’s no secret that happy employees are more likely to stay, so what does it look like to make employee satisfaction a top priority at a bank or credit union? Below are three tips for improving employee satisfaction across your organization to realize higher retention rates overall.

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Topics: Goal and Incentive Plans

Facebook Marketing for Banks & Credit Unions: What You Need to Know

Posted by Rebecca Key

facebook-marketing-banks-credit-unions

A lot has changed in social media marketing over the last five years, but Facebook - the original social media king - still remains one of the most effective ways to reach financial customers. In fact, according to The Financial Brand, nine out of 10 financial institutions currently use Facebook as part of their marketing strategy.

Below are three tips to keep in mind as you look to maximize your bank’s Facebook presence:

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Topics: Sales & Marketing

High Interest Rates Signal a Change in Marketing Strategy

Posted by David Acevedo

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When the Federal Reserve recently raised the federal funds rate, and set off a rise in short-term interest rates, it signaled that more increases were on the way. While the impact may be felt differently by an individual bank or credit union, there’s no doubt that financial institutions must prepare for the “new normal” of rising interest rates — especially when it comes to marketing.

A Challenge for Some, an Opportunity for Others

Seeking to temper signs of inflation in the economy, the Fed recently raised the federal funds rate from 1.5 to 1.75 percent. That immediately triggered an increase in the prime rate, which, according to Investopedia, “represents the credit rate that banks extend to their most credit worthy customers.” Borrowing costs for all other consumer credit is pegged against this number.

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Topics: Sales & Marketing, In the News, Customer Segmentation

What the Dodd-Frank Reform Bill Means for Small Banks and Credit Unions

Posted by David Acevedo

dodd-frank-reform-bill-capitol

The United States Senate recently voted to repeal parts of the Dodd-Frank bill governing financial institutions. The Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155) or CHOICE, while still uncertain of final passage, would raise the threshold for closer Federal Reserve scrutiny from banks with $250 billion in assets from the current asset threshold of $50 billion. While there are a number of other provisions to the proposed legislation, this higher threshold is the primary target of those seeking to roll back what many believe are unnecessary regulations placed on community banks and credit unions.

Pending a compromise of House and Senate versions of the bill, and enacting the final bill into law, here are five impacts the proposed legislation would have on financial institutions.   

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Topics: In the News

The Technology Trends Credit Unions Should be Watching

Posted by Joyce Colin

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Credit unions face an array of challenges when it comes to keeping up with the latest technology trends. From growing member relationships with the latest online and mobile solutions, to keeping those same members protected from cyber attacks, credit unions have a lot of technology balls in the air.

Here’s the top five technology trends that have an almost-daily impact on credit unions.

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Topics: Sales & Marketing, Customer Experience