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Filene: The Blog

Reaching Minority Households: A Call To Action!

Reaching Minority Households: A Call To Action!

I sat down with Adam Lee, Filene's Incubator Director, to follow up on the blog post he wrote last week about the ongoing payday lending proposed regulations debate, to go a bit deeper into the issue. I wanted to know what impact Filene’s work with the Reaching Minority Households Incubator and the 5 programs we’re testing with credit unions is having on un- and underbanked populations, which our research has shown disproportionately skews toward African American and Hispanic households. Here’s what I learned.

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While payday regulations are examined, financial struggles keep on

While payday regulations are examined, financial struggles keep on

The Consumer Financial Protection Bureau recently released proposed rules to help people get out of payday, vehicle title, and high-cost installment loan traps. Many financial institutions believe if the rules were implemented, it would make it hard to issue alternatives to high-cost loans, while consumer protection groups believe that the proposed rules do not go far enough.

One thing is clear: there is a tremendous need for short term, fairly priced lending products that provide consumers a way to achieve financial health.

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3 ways to strengthen your credit union through collaboration

3 ways to strengthen your credit union through collaboration

It’s time, credit unions, to harness the power of collaboration. The research all points in your favor. The collaborative nature of the industry will set you up for success and strength that going it alone simply cannot produce.

Here are three ways your credit union can collaborate with other credit unions, employees, members and the entire credit union system to fortify the strength of YOUR credit union...

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Keeping Strategy Alive

Keeping Strategy Alive

Strategy is too important to be a once or twice a year exercise. And while Filene members benefit from having access to our full library of research, we recognize most do not have the capacity to consume all the information that's available.

This is why we created The Strategy Cycle. Listen to our recent Podcast interview all about it.

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Credit Union Value Proposition: Still Awesome After All These Years

Credit Union Value Proposition: Still Awesome After All These Years

On June 14, we gathered a group of more than 90 credit union leaders from across North America at Harvard University to talk about cooperative strategies for sustained competitive advantage and business model evolution. And some pretty big darn deal stuff happened.

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A New Way to Consume and Engage with Filene’s Research

A New Way to Consume and Engage with Filene’s Research

Fast-forward 18 months into the future. Filene’s credit union members will have access to a vast wealth of research and reports aligned with five new Centers of Excellence focused on the most pressing issues facing the industry today: consumer decision-making, organizational entrepreneurship, performance and operational excellence, emerging technologies and war for talent.

We're now rolling out our first report to begin to populate the portfolio of research within the Center for Organizational Entrepreneurship. Here you'll have access to easily digestible and interactive elements of our first report from this Center: Designing Credit Union Culture for High Performance

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Credit Unions in the Crosshairs: A Cybersecurity Research Summary

Credit Unions in the Crosshairs: A Cybersecurity Research Summary

Credit unions of all sizes are vulnerable to data breaches and security lapses. But how can credit unions with limited budgets beat back an attack when some of the world’s largest organizations and governments have succumbed? 

The multifaceted challenge demands an increased focus on quickly discovering and addressing attacks, the importance of collaboration and networking, the need to improve vendor management, encryption, enhanced staffing, training and education, balancing and owning risk, and delivering on the promise to protect members’ confidential information. 

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Memorial Day and Beyond: Serving Those Who Serve Us All Year Round

Memorial Day and Beyond: Serving Those Who Serve Us All Year Round

Memorial day in the United States is the one day a year when we all collectively pause and take time to remember these who have lost their lives while serving in the country's armed forces.

For all the rest of the days of the year, 72 credit unions with a military (or primarily military) field of membership are actively serving today’s servicemen and women when they need help with their financial situations. 

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Take the 5-day challenge to improve your “digital appeal”

Take the 5-day challenge to improve your “digital appeal”

Cornell University defines digital literacy as “the ability to find, evaluate, utilize, share, and create content using information technologies and the Internet.” 

It’s easy to see there is a large digitally literate audience out there – the numbers speak for themselves. More than half of American adults use mobile banking and 2 billion people in the world are actively engaged on social media. Credit unions that want to grow loans and assets faster than they have before must appeal to consumer needs for convenient access to two-way communication, information, products and services, where they are, when they want access to it. 

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Filene @finovatespring - Day Two

If our heads weren’t spinning yet, yesterday’s sessions certainly did it! 32 organizations got a chance to demonstrate their solutions at Finovate Spring 2016 day two. Most of the themes from day one continued. Ease of use was king including mortgage platforms to simplify the process, big data integration, payment alternatives, investment solutions, and more Bot interfacing.  As one of the presenters pointed out, if you were playing bingo, this last paragraph probably did it for most.

Want to read more? Here is a few organizations that got our attention on day two.