7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr April marks an important month for credit unions as we all celebrate National Credit Union Youth Month and National Financial Capability Month. This provides a great opportunity for organizations to showcase the credit union difference by going above and beyond to provide financial education to staff, members, and communities.Your Foundation is here to help you celebrate this month with a few articles full of ideas by Executive Director Gigi Hyland. The first article was featured on CUInsight and explains “Why Every Month Should be Financial Capability Month“.According to the first-ever S&P Global FinLit Survey, a detailed and comprehensive analysis of worldwide financial literacy, 57% of adults are financially literate. That means that 43% of American people – our credit union members- are not financially capable. Helping our members to become financially capable citizens is part of our role as credit unions, and this article provides ideas to help such as the Enhanced FiCEP program, and free toolkits from the Foundation. Click here to read the full article. continue reading »
7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » I’m on my way to the train station but I wanted to give my faithful readers a heads up on the type of news that makes compliance geeks get excited and puts the rest of the universe to sleep. Trust me, if your credit union has to report HMDA data, this is another important milestone towards the radical redesign of the implementing regulations envisioned by Congress and the CFPB.What I’m talking about is news that the CFPB has released a beta version of the portal that financial institutions will use to report HMDA data. Given the amount of information that is going to be available about your average home borrower, it is absolutely crucial that the portal institutions will use to report this information works. After all, it was a vulnerability in an Equifax portal which lead to its data breach. Make sure that your compliance person gives a heads up to the IT Department so that it can begin to play with the new toy.