Page 10 - Cuj Feature News Today

As the CEO of Navy Federal Credit Union, Mary McDuffie can never lose touch with the needs of a young membership stationed across the globe.

There are more cost-effective ways for even small institutions to analyze data and connect with underserved and niche communities, according to a panel of experts during an NCUA event on financial inclusion.

Scams against the elderly are responsible for more than $3 billion in losses each year, according to the Federal Bureau of Investigation. Credit unions say they are seeing more cases, and often the hardest part is getting the victims to admit they've been taken advantage of.

In its inaugural Most Powerful Women in Credit Unions listing, American Banker is proud to share the stories of 25 of the women leading the credit union industry through times of rapid and unprecedented change.

Renée Sattiewhite has played a key role in the African American Credit Union Coalition for more than 20 years. "For me, if credit unions do not embrace [diversity, equity and inclusion] they will die," she said.

When credit union leaders are open to feedback from members and employees of many backgrounds, they can strengthen workplace morale and attract new customers, inclusion advocates say.

Wings Financial Credit Union in Apple Valley, Minnesota, has agreed to buy Settlers Bank in DeForest, Wisconsin. It's the third bank acquisition deal Wings has announced, one of which fell through.

Even the most passionate workers may need a more flexible schedule, a hybrid office or unique training. Credit unions that want to hire and retain those people need to not only meet those needs, but also know when to help them move on to a new employer, experts say.

Nickels, which works with the credit union service organization Reseda Group, is using its $4 million seed funding to give financial institutions more visibility into consumers' debts.

The National Credit Union Administration's proposal increases spending by 8.1% from 2022, which agency officials say is still an improvement from the previously approved 12.3% hike.