May 29, 2024 Add to Calendar 2024-05-29 09:00:00 2024-05-29 09:00:00 How Credit Unions Can Win in 2024 Listen On: Key Takeaways: [04:37] The personal savings rate continues to drop. Defaults are on the rise across all asset classes. [06:10] A lot of credit unions are not struggling with understanding what AI is but not necessarily understanding how AI can help their business and help move their credit union forward in terms of a much bigger value proposition for their members.  [10:19] It has been proven that the use of AI for decisioning loans is a better predictor of default and risk in comparison to using traditional underwriting methods that may not allow for approval on your internal policy or procedure.   [17:04] If you’re looking to utilize AI in any realm of your business, find that partner that is able to adhere to your goals and objectives across all different functions within your organization and is an extension to your organization. Learn more about Upstart's AI in Financial Services Professional Certification. Web NAFCU digital@nafcu.org America/New_York public

How Credit Unions Can Win in 2024

Consumer Lending, FinTech

May 29, 2024 Add to Calendar 2024-05-29 08:00:00 2024-05-29 08:00:00 Manufactured Housing for Home Buyers Listen On: Key Takeaways: [01:03] Home affordability is a national crisis as existing home sales are at a record low while new home construction is well below what is needed to meet demand. [02:16] Today, over 22 million people live in manufactured homes throughout the US. [04:38] Over 70% of consumers cited affordability as the key indicator in choosing a Manufactured Home. [09:35] Credit Unions may also consider the opportunity to partner with specialty finance companies such as Triad who can source the loan through dealer relationships, originate loans according to the credit union's guidelines, and service loans while helping the credit union secure new members while growing their loan portfolio.  Web NAFCU digital@nafcu.org America/New_York public

Manufactured Housing for Home Buyers

May 23, 2024 Add to Calendar 2024-05-23 14:00:00 2024-05-23 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public

Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing

May 23, 2024 Add to Calendar 2024-05-23 09:00:00 2024-05-23 09:00:00 How to Manage Overdraft with a Fairness First Approach Listen On: Key Takeaways: [01:03] This rule (CFPB Overdraft Rule) only applies to financial institutions that are over 10 billion dollars so that is not most credit unions. It doesn’t take effect until October 1, 2025, at the earliest. [04:24] It could be many years before or even if an overdraft rule becomes final. So, most credit unions are in a wait and see mode for the most part.  [07:44] Alternative data can improve the speed and accuracy of credit decisions and help firms evaluate the creditworthiness of consumers who may not be able to obtain credit in the mainstream banking system. [19:16] High-income people who generally make 70,000 dollars or more are paying 80% more in overdraft fees than low-income people.  Web NAFCU digital@nafcu.org America/New_York public

How to Manage Overdraft with a Fairness First Approach