Insights from Catalyst

Taking advantage of add-on services, such as an ACH solution, from your core provider just makes sense for credit unions. Or does it? Although core providers may offer incentives to gain your add-on ACH business, you’ll want to ensure their product functionality, features, service and support match yours and your members’ expectations before signing the contract.

Not surprisingly, the pandemic has left its mark on the credit union industry. In short, credit unions have experienced a swift increase in assets in 2020 as members continue to grow their savings. As is the case with any recession, consumers generally look to save during uncertain times.

At its October 15, 2020 meeting, the NCUA Board proposed a new derivative rule that greatly eases the prescriptive nature of the previous rule and credit unions’ burden for gaining authority.

Despite challenges brought forth by the COVID-19 pandemic, the nation’s faster payments initiative is still pushing forward in 2020. The Faster Payments Council recently held its virtual Fall Member Meeting to share critical, emerging information and engage in dialogue supporting faster payments progress.

National Cybersecurity Awareness Month (NCSAM) is just around the corner! Each October, the Cybersecurity and Infrastructure Agency (CISA) of the U.S. Department of Homeland Security and the National Cybersecurity Alliance (NCSA) join forces to educate businesses, consumers and students on how to stay safe and secure online. And today, cybersecurity is playing an even more pivotal role within the new remote workforce.