COLLECTIONS

A monthly collection of Callahan content that, together, addresses a single topic from a variety of perspectives.

 
 
Team Development

How To Build A Better Team

The financial services industry can move fast, but that doesn’t mean credit unions can’t be prepared. The best way to do that? Turn to team-based learning to achieve the alignment needed to capitalize on strategic opportunities and avoid disruptive threats. In this Callahan Collection, learn how and why a team-based learning solution works for credit unions.

Mergers Made Easy

Best Practices In Merger Strategy

Mergers in and of themselves are not a viable growth strategy, but for today’s credit unions, mergers have become a reality requiring constant consideration and due diligence. This Callahan Collection profiles the before and after of mergers, including strategies and ways to handle the member and employee impacts they can create.

Small Credit Union Success Stories

Small Credit Union Success Stories

Just because a credit union is small doesn’t mean it can’t be mighty. Small credit unions are making an impact on the communities, SEGs, and members they serve. What can you learn from them? Find a best practice or two in this Callahan Collection.

A Credit Union Guide To Conversions

A Credit Union Guide To Conversions

Fun, no. Important, yes. Credit union systems conversions — including core, online, and other platforms — can be expensive, time consuming, and stressful. They can even take years from the initial due diligence gathering to the go-live date, and the extra time does not guarantee a smooth process, either. This Callahan Collection provides examples of both smooth and rocky conversions and what credit unions can learn from each.

 
The Annual Issue: Strategies For Reviews, Reports, Meetings, And More

The Annual Issue: Strategies For Reviews, Reports, Meetings, And More

Credit unions rely on the talent and skill of their employees to serve members. And although individual employees bring different skills to the job, the best employees are all healthy and engaged. This Callahan Collection shows the ways credit unions are leveraging reviews, meetings, and programs to create a stronger set of employees.

 
10 Ways To Pump Up The Loan Portfolio

10 Ways To Pump Up The Loan Portfolio

Lending is increasing across the credit union industry, and institutions have found success beyond the 30-year fixed mortgage and 5-year auto loan. This Callahan Collection identifies 10 lending strategies credit unions can employ to grow their portfolios.

 
Tips To Improve Checking Account Design

Tips To Improve Checking Account Design

When members have different wants, needs, and expectations of their financial services products, credit unions respond with products featuring a greater degree of customization and utility. This is the case with checking accounts, and this Callahan Collection provides case studies of credit unions that have experimented with checking account design.

 
6 Ways To Boost Non-Interest Income

6 Ways To Boost Non-Interest Income

Nationally, non-interest income makes up nearly 30% of total credit union income, a significant portion that many credit unions look to maximize without inundating members with fees. This Callahan Collection features ways credit unions are driving non-interest income, including fee strategies, secondary market sales, and more.

 
Why CUSOs Work For Credit Unions

Why CUSOs Work For Credit Unions

The collaborative model is the best, and perhaps only, way credit unions can compete in the ever-evolving, increasingly competitive world of financial services. Credit Union Service Organizations (CUSOs) are the epitome of cooperative strategy in action. They help credit unions bear the burden of operational costs, find new revenue streams, diversify earnings, and innovate with like-minded institutions across the country. This Callahan Collection looks at both cutting-edge as well as tried-and-true ways CUSOs are supporting the cooperative movement.

 
21 Ratios All Credit Unions Must Know

21 Ratios All Credit Unions Must Know

It is an NCUA mandate that a credit union's board of directors has a "working familiarity with basic finance and accounting practices." That's for volunteers. Shouldn't a credit union's management staff have the same working knowledge of ratios that effect the credit union's performance? This Callahan Collection covers basic concepts, definitions, and formulas every credit union volunteer and member of management should know.

 
The Cultural Wars

The Cultural Wars

Whether the result of a merger, a change in leadership, or a simple reboot, changing the culture of a financial institution is no easy feat. But sometimes that's exactly what a credit union needs to break out of a rut and achieve its true growth potential. This Callahan Collection looks at credit unions who have undertaken a culture change and focuses on what spurred the change, the vision for the future, how the credit union implemented its vision, and results.

 
Tips To Help Your Team Work From Home

Tips To Help Your Team Work From Home

When it comes to productivity, Mother Nature is no match for telecommuting technology. But in addition to the occasional snow day alternative, many credit unions today are discovering remote and flexible workforce options attract new workers, boost retention, and improve member service. This Callahan Collection covers considerations for whether and how to deploy a telecommuting option, insights into how to manage a remote workforce, and real-world examples of policies that work.

 
Teller Technology

Teller Technology

Personal Teller Machines, Interactive Teller Machines, Video Teller Machines — whatever you call them, credit unions who ignore the value this evolving teller technology offers because of a past experience do so at their own peril. As one reader of CreditUnions.com put it, “History provides a way to learn how not to make the same mistake twice. This is a different machine and a different time.” This Callahan Collection will cover a list of objections, and how to overcome them, from hiring to deploying to benchmarking and more.

 
Role Re-Vision For The Modern Credit Union

Role Re-Vision For The Modern Credit Union

Few industries are evolving as quickly and significantly as financial services. As new technologies and member expectations cause a shift in credit union operations, it follows that institutions are creating roles to keep up with the changing tide. This Callahan Collection features examples of credit unions that have created new roles and adjusted responsibilities in response to a growing industry.

 
Reimagine Retail

Reimagine Retail

Even with the increasing prevalence of digital banking channels, the credit union branch remains a primary point of contact for many members. But the swiftly changing expectation in member experience has put an onus on credit unions to redefine or reimagine the retail experience for the next five, 10, or 20 years. But where to start? This Callahan Collection hopes to provide credit unions with that inspiration.

 
New To The Neighborhood

New To The Neighborhood

From a hub-and-spoke approach to a split leadership structure, credit unions have a variety of methods for expanding into new markets. This Callahan Collection showcases strategies credit unions have taken to broaden their geographical reach and serve a greater population of potential members.

 
Get Busy With Business Loans

Get Busy With Business Loans

In the United States, small businesses make up 99.7% of employer firms, according to the Small Business Association. As localized financial institutions, credit unions are well positioned to serve this business community. Although small business loans carry additional risk, credit unions from across the industry have proven time and again how to accommodate this risk while helping these firms fulfill their societal benefit. That’s why this Callahan Collection offers examples of successful member business lending programs and initiatives from coast to coast.

 
The Compliance Conundrum

The Compliance Conundrum

New regulations require more time, money, and resources to stay compliant. This Callahan Collection outlines different strategies for making sure the credit union is not only compliant now but also remains there in the future. Learn best practices in staffing strategies, CUSO development, technology security, and more from credit unions in the know.

 
Cars For Kids

Cars For Kids

The next generation of car buyers is just around the corner. And as their buying power increases, so too will their need for transportation that meets their standards for quality, affordability, and environmental sustainability. This Callahan Collection showcases big-picture strategies as well as specific credit union tactics — including green loans, car-sharing, and savings and buying education — for reaching this generation.

 
How To Work With Realtors

How To Work With Realtors

Although building a realtor network can seem like a daunting task, similarities between credit unions and realtors can spur an initial conversation. Both are built upon personal relationships within their communities and customer trust, and share a calling to help individuals achieve home ownership. This Callahan Collection profiles the various approaches credit unions have employed to develop realtor relationships.

 
Driver's Education

Driver's Education

Total auto loans across the credit union industry grew 16.70% year-over-year as of the first quarter 2015. That’s the tenth consecutive quarter in which the industry posted double-digit growth or higher. At the same time, new and used auto delinquencies were low — 0.62% and 0.31% respectively.

Credit unions serve a diverse set of members, and not all of them have “A” or “B” quality credit. That’s why this Callahan Collection showcases credit unions that have developed educational and technological means to better serve the auto needs of members while managing against risk.

 
Whatever The Niche Might Be

Whatever The Niche Might Be

Credit unions from California to Florida are offering unconventional, low-dollar lending products to satisfy the specific needs of members. From a product that mimics a tanda — an informal credit source used by Hispanic communities — to another that helps fund construction projects, the credit unions profiled in this Callahan Collection are finding innovative ways to meet member needs, whatever the niche might be.

Evolving Uses For Social Media

Evolving Uses For Social Media

Facebook had an average 829 million online and 654 mobile daily active users in June 2014. Twitter boasts 271 million monthly active users, 78% of which are on mobile. Social media is a juggernaut, and the potential to reach young adults here is a marketer’s dream. Despite the difficulty in calculating return on investment, the marketing dollars spent on social media continue to grow. In 2012, companies spent $3.4 billion on social media advertising; that could climb to $8 billion in 2015. You must be prepared for this brave new world. That’s why this Callahan Collection offers best practices on how to turn online and social media channels into a marketing tool.

The Millennials Are Coming

The Millennials Are Coming

Millennials will have more spending power than any other generation by 2017, according to TIME. That buying power means credit unions must design or adopt products and services that satisfy the tastes of a generation markedly dif- ferent than the one that preceded it. Many credit unions have already started offering technological and operational options that satisfy millennial expectations; that’s why this Callahan Collection highlights the strides being made in lending, investments, advisory boards, and much more. 2017 isn’t that far away.

Prepare your institution. The millennials are coming.

An Indirect Object Of Affection

An Indirect Object Of Affection

Credit unions held more than $102 billion in indirect auto loans Nationwide as of June 2014, according to Callahan & Associates. That’s the largest balance in the past 10 years. Indirect lending offers benefits such as serving new members the credit union might not otherwise have reached and the opportunity to deepen relationships with members who come through the channel.

 

Building a strong indirect program require dues diligence and the ability to cultivate relationships. That’s why this Callahan Collection showcases the strategies different credit unions employ to improve the efficiency of indirect lending, establish contact with local auto dealerships, and enhance dealer partnerships.

How To Succeed In Payments

How To Succeed In Payments

The discussion surrounding the future of payments is a divisive topic within the financial services industry. The proliferation of technologies and delivery channels has fundamentally changed the payments marketplace, with financial institutions experimenting in new channel designs and functionalities. This Callahan Collection presents credit card strategies, the value of payments technology to member relationships, and the lessons credit unions can take away from non-traditional payments providers.

 
Modern Mortgages For Members

Modern Mortgages For Members

First mortgages make up 41.54% — or $283.3 billion — of the credit union loan portfolio. According to Callahan & Associates, that’s a 17% increase from June 2012 to June 2014. But credit unions are not only gaining share, they’re also making creative loans, driving volume, and helping members achieve homeownership. This Callahan Collection presents an array of innovative ways credit unions are making mortgage loans to members.

 
Member Onboarding Perfected

Member Onboarding Perfected

New member onboarding goes a long way in building lifelong members. When credit unions fail to take full advantage of these initial stages they miss out on the opportunity to develop the depth of relationship they would like. For those institutions that want to make the most of the honeymoon phase, this Callahan Collection showcases several strategies to welcome members and build fruitful relationships.

 
Opportunities In The Mortgage Market

Opportunities In The Mortgage Market

Credit unions nationwide held $276.7 billion in first mortgages as of first quarter 2014, according to Peer-to-Peer analytics by Callahan & Associates. That’s nearly 42% of the entire portfolio. Mortgages comprise the largest compo¬nent of credit union lending, but new rules and regulations changing the mortgage landscape could change that. This Callahan Collection offers credit unions a discussion of the Ability-to-Repay Rule and Qualified Mortgage standards as well as presents four strategies to maximize the potential in the mortgage portfolio.

 
Real Cooperatives Lend Niche

Real Cooperatives Lend Niche

As member-owned-and-operated institutions, credit unions exist to serve their members’ needs. Cooperatives often can meet these needs through traditional lending products such as mortgages, auto loans, and credit cards. But when a specific member segment has an unmet need, specialized lending products go a long way in developing and retaining that member base. By satisfying the exceptional needs of members, credit unions can enhance not only that segment’s loyalty but also their propensity to refer other members. In this collection, we offer several examples of credit union niche loan products to serve as a model for institutions looking for additional ways to serve their membership.

 
The Branch Of The Future

The Branch Of The Future

It's no secret that the brick-and-mortar branch location is not as prevalent as it once was, as online and mobile offerings have added convenience but moved a significant chunk of business to these channels. As such, credit unions continually look for value in their physical presence, knowing that a personal connection can still mean something. These seven articles attempt to paint a clearer picture of the future of branches and how credit unions can still find value.

 
Tech At The Table

Tech At The Table

As technology rapidly advances and its role in the daily operations of credit union’s expands, institutions that fail to adapt to the shifting landscape and remain even with the curve may find themselves struggling to provide what will become basic but necessary member services. This collection features six articles that directly focus on aspects of technology: from insight on how to leverage an investment in innovation, to the role of technology in both internal and external operations such as online services, risk mitigation, predatory lending competition, or security management.

 
CEO Onboarding

CEO Onboarding

Welcome Aboard: A Guide For New CEOs.

When a new CEO joins the team, everyone looks to them for oversight, supervision, and most importantly, leadership. That’s a tall order to fill, regardless of whether the CEO has worked his or her way up the ranks or is joining the credit union from a new institution. This collection features thoughtful advice from eight credit union CEOs on what it takes to be a successful CEO and how to build that success from day one.

 
Outside Inspiration

Outside Inspiration

Where Do Credit Unions Go For Inspiration?

Probably not to the usual suspects. And that’s the goal of this unusual CUSP Collection: to highlight ideas from outside the industry that will jump-start your creative juices. From local microbreweries to the international retail giant Apple, from a leading rock band to the NFL, this collection draws parallels to the credit union industry in five innovative case studies.

 
Financial Literacy

Financial Literacy

Financial Literacy: Why Now And How Much?

NCUA requires board of directors volunteers to have a “working familiarity with basic finance and accounting practices.” While the extent of financial literacy that volunteers must meet depends on each credit union’s complexity, there are basic concepts, definitions, and formulas every credit union volunteer and member of management should know. This CUSP Collection combines the four parts of CUSP’s Financial Literacy Series into one comprehensive booklet.

 
CUSOs

CUSOs

CUSOs Come In All Shapes And Sizes, Yet All Prove Helpful In Improving Earnings And Saving Money

The past few years credit union service organizations have pioneered a number of new earning opportunities. In addition to being a viable strategy for diversifying a credit unions’ earnings, CUSOs are also proving to be a source of cost savings and efficiency enhancement. This CUSP Collection profiles CUSOs, young and old, that are making a difference for the credit unions they serve.

 
ROM [Return Of The Member]

ROM [Return Of The Member]

Credit Unions Have Different Goals Than For-Profit Financial Institutions

Instead of solely examining financial data, credit unions must also quantify the value they provide to members to accurately understand their performance. Callahan’s Return Of The Member [ROM] score is built for just that. This collection examines how small institutions, those in the $20-$50M peer group, are succeeding at providing exceptional member value.