Credit Union 2016 Year in Review

The credit union industry is an ever-changing landscape. That’s why it is important to take a few moments here and there to look back at what has been accomplished. 2016 has been filled with credit union events, credit union philanthropic accomplishments, regulation updates, mergers, a presidential election, events that impacted the economy, new lending ideas, and form updates. Take a journey down the road of 2016 to recap on all that has happened, and for an outlook to 2017.

Credit Union Events
Events occur throughout the year as networking and learning opportunities for credit unions. Here are a few recaps to some of 2016’s credit union events:

CU Supervisory Committee and CUES Symposium
CUCP January Meeting
GAC 2016 Recap
Tri-County Event Recap
MnCUN 2016 Annual Meeting
NAFCU 2016 Regulatory Compliance School Recap
2016 MCUL Annual Conference Spotlights Credit Union Challenges
Security Management and Director’s Conference
NASCUS Cybersecurity Symposium Recap
Credit Union Events
Northwest Credit Union Association MAXX 2016 Recap
October Webinars for Credit Unions
NCUMA 2016 Hawaii Conference Recap
NCUA’s High-Impact Community Partnerships Webinar
Tips to Improve Your Golf Game

The Credit Union Difference
There are many differences between credit unions and banks. Customer service, philanthropic efforts, employee and member retention are just a few. Check out how credit unions showed they were different from banks in 2016:

Credit Unions vs. Banks – Game On!
History of Credit Union ATMs
Longevity Success with Credit Unions and Employees
A New Kind of Revolution — Juntos Avanzamos — Together We Advance
Top Five Reasons a Consumer will Pick Your Credit Union Over Another Financial Institution
Credit Union Member Retention: The How-To Guide to Keep Your Members Happy
Credit Union Employee Retention
Help Your Credit Union Members Organize Debt
Credit Unions Helping Members Enjoy Vacations
National Credit Union Month Benefits for Member Growth
Credit Unions and Philanthropy – Collaborative Charity Movement
Credit Union Golf Tournaments Raise Donations for Local Charities
“Love My Credit Union” – Credit Unions Giving Back to Their Communities

Credit Union Regulation Updates
Regulation changes and updates are no stranger to the credit union world. Whether new regulations are imposed or possible “de-regulation” occurs, which we may see in upcoming years, change always seems to be in the forecast. Here are some regulation changes that affected credit unions in 2016:

Annual Threshold Adjustments
Telephone Consumer Protections Act (TCPA)
Military Lending Act Update
MLA Changes and How They Affect Your Credit Union
TCPA: What You Need to Know
CFPB No-Action Letter Regulation
NCUA Consumer Rights on Sending Money Abroad
Credit Union Regulations and Regulators (CFPB & NCUA)
Possible Upcoming Regulatory Changes ‘Re-Regulation’ Time

Credit Union Mergers
Credit union mergers continue to happen in 2016. See these articles on which credit unions merged, and if your credit union should branch out:

Credit Union Mergers
Should Your Credit Union Branch Out?

Election and Economic Impact on Credit Unions
2016 has been filled with news on the economy and the presidential election. See how these recent events affect the credit union industry:

Interest Rate on the Rise
Macy’s Announces the Closing of 40 Stores
The Impact of the 2016 Election on Credit Unions and the Economy
Minimum Wage on the Rise Affects Large and Small Business in the U.S.
Election Years Are Different – What the 2016 Presidential Election Means to Credit Unions
When “Cents” Don’t Make Sense. A Penny for Your Thoughts?
The American Dollar

Lending Tools and New Ideas
Did your credit union offer new lending products to members in 2016? Here are some ideas of products you can offer in 2017. Remember, if you decide to offer these new products, Oak Tree can provide your credit union the compliant forms that you will need.

Leap Year Credit Union Promotions
Secured and Unsecured Lending
Credit Union Member Retention: The How-To Guide to Keep Your Members Happy
Classic Car Loans
Top 10 Fitness Activities in the United States
Millennial Dictionary – Credit Union Tips
Help Your Credit Union Members Organize Debt
How to Have Effective Communication at Your Credit Union
Top 7 Financial Hobbies for Credit Union Members to Pursue
Prepare Your Credit Union for Summer Buying Boom
Stay Connected with Your Credit Union Demographics
International Consumer Lending
How Enticing & Simple is Your Credit Union Membership Application Process?
Staying Within Your Budget–Use It or Lose It
Millennial Market Lending Tools
Consumer Lending and Travel Loans in the Credit Union Industry
New Member Acquisition – Reason, Season or Lifetime?

The forms industry has seen some change in 2016, as well. Oak Tree provides all types of forms to credit unions in all types of formats. From pre-printed forms, laser-generated forms, and web-based forms, Oak Tree offers it all, making us the one-stop credit union forms shop. Here is what happened in the forms industry in 2016:

Transitioning to a New Insurance Carrier
Is Your Forms Vendor a “Trick” or “Treat”?
Elevate Your Forms – Merging With A Credit Union Using Other Forms?
Pillars of Oak, Unshaken By The Sands of Time
How to Shop for a New Data Processor
With all these changes, one thing is for certain; Oak Tree remains dedicated to provide premium, compliant forms to credit unions and will continue to work side by side with you for years to come.

Stay informed on the latest regulations and credit union industry news in 2017 and beyond by subscribing to Oak Tree’s email and be sure to bookmark!

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