Replacing Cards In A Breach And Lessons In Leadership

Four can't-miss data points featured this week on CreditUnions.com.

 
 

This week CreditUnions.com asks and answers several questions: What should you expect in the even of a breach? What makes the CFO of a Vermont credit union a great leader? Are credit unions stronger than ever?

Here are four don’t-miss data points for the week:

1,093

U.S. companies and government agencies suffered a record for data breaches in 2016, with 1,093. And with nearly three full months remaining in 2017, breaches are again occurring at a record pace.

Data breaches have become a fact of life for today’s financial institutions, and present significant challenges — especially those that occur outside the credit union. In “What To Expect When You’re Expecting A Breach,” credit unions in California and Washington offer best practices for responding to breaches and reissuing cards.

100th Of 1%

Judy Soules is one of those people who comes within 100th of 1% of budget and gets upset about it.

Soules, the CFO of Vermont's One Credit Union, has a background in banking and finance, decades of experience in community banking, and a self-described "community financial institution heart."

In "Judy Soules On Leadership," the executive shares her early lessons in leadership, sources of inspiration, and hopes for the future.

4.3%

Credit unions are indeed having an outstanding 2017 — right on the heels of a very strong 2016 and 2015. At 4.3%, membership growth has hit its fastest rate ever. Credit unions added 4.5 million net new members over the 12 months ended June 30. That’s more than double the 2 million net new members added just four years ago.

New members bring more shares and loans. It should come as no surprise, then, that credit unions just posted the highest growth rate in the share portfolio since the Great Recession. And the loan portfolio is on pace to hit four consecutive years of double-digit growth, an unprecedented streak.

So are credit union's stronger than ever? Find out how an even better indicator of credit union success lies in the movement's market impact in "Credit Unions Are Stronger Than Ever."

30

That's how many days September has, yet for Callahan partner Jon Jeffreys, it seemed to move more quickly.

September was a crazy month — board meetings, strategic planning sessions, kids starting school, house guests fleeing a hurricane, and the never-ending craziness in the world around us.

It went by in a blur, yet there were a couple of moments that prompted some reflection. Read his reflections of what credit unions can do to build community and commitment in "Be That Unwavering Commodity."

Happy Reading!

 
 

Oct. 10, 2017


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