Abrigo

FEBRUARY 6, 2024

Develop an MBL program while mitigating risk Credit unions looking for alternate paths to growth in today's rising rate environment may be primed to leverage member business lending. Register Takeaway 1 Credit unions developing or tightening up an existing MBL strategy should start by engaging the board of directors to outline goals.

Credit Unions 88

Credit Unions Credit Risk Small Businesses 88

Abrigo

JANUARY 24, 2024

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. DOWNLOAD Takeaway 1 Preventing fraud is a top concern of credit unions considering adopting FedNow, the new instant payments infrastructure from the Federal Reserve. These include the ability to accept a payment without posting.

Credit Unions 88

Credit Unions Credit and Collections Transactions Cybersecurity 88

Abrigo

MARCH 21, 2024

Find the right support for your credit union merger Consider the benefits of a third-party fair value specialist to smooth the credit union merger accounting process. Takeaway 3 Seek out a firm with credit union merger experience that brings credentials, communicates well, and takes a comprehensive view of the merger.

Credit Unions 88

Credit Unions CECL Credit Risk Transactions 88

Abrigo

MAY 22, 2024

Recent stats and dynamics of the small business lending market Understanding the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 78

Credit Unions Small Businesses Credit and Collections Credit Risk 78

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. T he following best practices address the top AML concerns specific to credit unions.

Credit Unions 78

Credit Unions Trust Companies Transactions 78

Abrigo

MARCH 31, 2023

NCUA expectations for credit unions post-CECL adoption The NCUA's focus on risk, especially credit risk, has implications for credit unions instituting CECL this quarter. Takeaway 2 Credit unions may still have questions about regulatory expectations for CECL after adopting the new standard.

Credit Unions 78

Credit Unions CECL Credit Risk Credit and Collections 78

Abrigo

MARCH 24, 2023

Best practices for your BSA/AML risk assessment Learn top tips for creating a risk assessment to capture your credit union's risk. Has your credit union started your annual process for updating your anti-money laundering/countering the financing of terrorism (AML/CFT) risk assessment?

Credit Unions 78

Credit Unions Cybersecurity Credit and Collections Transactions 78

Abrigo

JUNE 5, 2023

Takeaway 3 Banking intelligence that's purpose-built for banks and credit unions combines analytics and intuititve dashboards. How can banks and credit unions quickly spot warning signs so they can act during volatile economic, industry, and institutional conditions?

Credit Unions 78

Credit Unions CECL Credit Risk Dashboards 78

Abrigo

DECEMBER 2, 2024

Checks in the mail: A holiday gift for thieves As sure as Santa visits millions of homes on Christmas Eve, holiday check fraud will find its way into banks and credit unions during the festive season. Abrigo’s new fraud detection software for banks and credit unions finds more fraud faster.

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

Abrigo

OCTOBER 17, 2023

Why change management is vital for banks and credit unions Regulators promote change management to manage risk, but banks and credit unions can also achieve important benefits when they manage change. But banks and credit unions can also realize significant benefits when they incorporate change management strategies.

Credit Unions 78

Credit Unions CECL Credit Risk Dashboards 78

Abrigo

JULY 14, 2023

Leapfrog competition, reduce risk How to develop banking strategies using your data Everywhere bank and credit union leaders look, it seems, someone is talking about how financial institutions should leverage their data and analytics to develop strategies for leapfrogging competition and reducing risk. Learn more about Abrigo Connect.

Credit Unions 78

Credit Unions CECL Dashboards Revenue Recognition 78

Abrigo

NOVEMBER 18, 2024

Prepare for regulator scrutiny on interest rate risk & liquidity Banks and credit unions that aren't paying attention to these critical issues can expect a tough review. With the uncertain economic outlook, regulators and examiners have been regularly conveying their top priorities for banks and credit unions.

Credit Unions 78

Credit Unions 78

Abrigo

JUNE 28, 2023

They wear many hats, especially in smaller community banks and credit unions. Why regular reports matter Board reporting on AML compliance activities BSA Officers have a lot of responsibilities. One essential obligation of BSA Officers is reporting to the board of directors.

Credit Unions 78

Credit Unions Dashboards Credit Risk Transactions 78

Abrigo

FEBRUARY 27, 2025

For banks and credit unions, the stakes are highnot only in protecting their customers and members but also in safeguarding their reputations and adhering to regulatory expectations. Banks and credit unions should educate clients on how these scams operate and encourage them to verify all wire requests independently.

Credit Unions 78

Credit Unions Electronic Funds Transfer Transactions 78

NorthOne

SEPTEMBER 10, 2024

The post Do Credit Unions Offer Business Accounts? Having a reliable business account is essential for entrepreneurs and small businesses. It’s the backbone of financial management, helping you keep track of income, expenses and everything in between. appeared first on North One Blog.

Credit Unions 52

Credit Unions Small Businesses 52

Abrigo

DECEMBER 27, 2022

The post 2023 Fraud trends: What banks and credit unions can expect appeared first on Abrigo. Fraud Prevention. Combining AML and fraud teams at your financial institution: Benefits & logistics. Learn More.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit and Collections 78

NorthOne

SEPTEMBER 10, 2024

Credit unions are member-owned financial cooperatives that prioritize customer service and community engagement. The post The 5 Best Credit Unions for Business Accounts in 2024 appeared first on North One Blog. They often.

Credit Unions 52

Credit Unions 52

Abrigo

JANUARY 24, 2025

Understanding broad market trends and the specific forces affecting bank and credit union portfolios can guide institutions decisions while helping them prepare for examiner scrutiny of CRE risk , according to a recent Abrigo webinar, Being strategic with your CRE.

Credit Unions 88

Credit Unions Credit and Collections Credit Risk Small Businesses 88

Abrigo

SEPTEMBER 25, 2024

Understanding the role of E-Tran in SBA lending is the first step for banks and credit unions to ensure smooth loan processing. Credit unions only make 2.4%. But both banks and credit unions have substantially increased their lending activity through 7(a) since 2020. SBA-backed loans What is E-Tran?

Credit Unions 151

Credit Unions Credit Risk Credit and Collections Small Businesses 151

Abrigo

FEBRUARY 12, 2025

The average bank or credit union takes two to three weeks to process a small business loan, and fintechs take no more than 24 to 48 hours, he said. Understanding what small businesses need from a lending partner is the first step in improving loan decisioning. According to Kirby, speed is the top priority.

Small Businesses 78

Small Businesses Credit Unions Credit Risk Default 78

Abrigo

APRIL 12, 2021

Takeaway 2 Once a bank or credit union understands the need for an LOS, it develop one or use a third-party vendor. A loan origination system (LOS) has become a common banking buzzword among banks and credit unions in recent years. It’s also important to understand how an LOS may be able to help your bank or credit union.

Credit Unions 135

Credit Unions Credit Risk Credit and Collections CECL 135

Fundera

OCTOBER 13, 2020

Although there were 48 Black-owned banks in 2001, there are fewer than 25 today (not including a number of credit unions). [2] Hope Credit Union: Montgomery. Hope Credit Union: College Station, Little Rock, Pine Bluff, and West Memphis. FAMU Federal Credit Union: Tallahassee. GN Bank: Chicago.

Credit Unions 122

Credit Unions Small Businesses 122

CreditStrong for Business

DECEMBER 12, 2024

You might choose to get a cosigner, find special financing options, save up a larger downpayment, or try your luck with a credit union. Consider Credit Unions Unlike major banks and financial institutions, local credit unions often have more lenient credit requirements.

Credit Unions 52

Credit Unions Credit Scoring Default Credit Application 52

Abrigo

MARCH 5, 2025

Generative AI in credit risk management is the latest step forward , offering a transformative approach to loan review. By streamlining processes, improving accuracy, and providing deeper insights, AI is set to redefine risk assessment for banks and credit unions.

Credit Risk 78

Credit Risk Credit Unions CECL 78

Abrigo

MARCH 27, 2025

Tips for backing up your Q factors Qualitative factors remain a hot-button issue during audits and exams because they can lead to wide swings in the allowance for credit losses if left unchecked. Follow these recommendations to ensure your bank or credit union can defend qualitative factors and their role in the allowance calculation.

CECL 78

CECL Credit Unions 78

Abrigo

DECEMBER 10, 2024

Abrigos new fraud detection software for banks and credit unions finds more fraud faster. The statement provided examples of risk management and other practices that may be effective in combatting this often-underreported crime. Get details What is elder financial exploitation?

Credit Unions 78

Credit Unions Transactions 78

RMAi Blog

SEPTEMBER 26, 2024

Furthermore, he is well-respected in the industry and has been invited to speak at multiple organizations, including America’s Credit Unions. He is a motivated business professional whose recent focus has been on prospecting and qualifying new leads, onboarding Clients, and driving revenue growth.

Credit Unions 130

Credit Unions Credit and Collections 130

Abrigo

MARCH 31, 2025

The last thing a bank or credit union wants is to make a decision based on incorrect information. Getting to just right Credit memos play a critical role in risk management and credit decisioning. But they shouldnt be an exercise in verbosity or regulatory appeasement.

Credit Risk 78

Credit Risk Credit Unions Transactions 78

Abrigo

MARCH 21, 2025

The latest CRA framework categorizes banks (CRA requirements are not extended to credit unions) into three tiers based on asset size, with differing compliance requirements: Small banks (assets under $600 million) Can opt-in to the new CRA tests or remain on a streamlined lending test that focuses on retail activities.

CECL 78

CECL Credit and Collections Dashboards Credit Unions 78

Abrigo

NOVEMBER 14, 2024

These actions can result in costly civil penalties and reputational damage, so banks and credit unions should take proactive steps to ensure their BSA compliance programs are robust and effective.

Credit Unions 88

Credit Unions Transactions 88

Abrigo

AUGUST 13, 2024

10 good podcasts for bank & credit union execs & staff These banking podcasts discuss current events, strategic and policy issues, competition, digitalization advice, and more. Other podcasts might be internationally based and of little interest to community financial institutions or credit unions based in the U.S.

Credit Unions 88

Credit Unions CECL Credit Risk Small Businesses 88

CreditStrong for Business

AUGUST 2, 2024

Some of these loans are normal loans offered directly by banks, credit unions, and other typical mortgage lenders. Conventional Home Loans A conventional home loan is a standard loan offered by a mortgage provider, such as a bank, credit union, or a specialized lending company.

Credit Scoring 98

Credit Scoring Credit Unions Default 98

ForwardAI

DECEMBER 20, 2022

Credit Union Times – 3 Strategies for Credit Unions to Compete in the Modern Banking Industry. Through the partnership, FinTech Automation can now provide seamless access to accounting data that is fully integrated with its cloud-native, API-driven core for fintechs, banks, and financial institutions.

Credit Unions 97

Credit Unions Small Businesses 97

Abrigo

FEBRUARY 21, 2025

Making the most of data developed for CECL See how banks, credit unions, and other financial institutions can leverage data developed and used for the CECL model for stress testing and strategic insight.

CECL 78

CECL Credit and Collections Credit Unions Default 78

CreditStrong for Business

NOVEMBER 8, 2024

Business loans are available from traditional banks, credit unions, and online lenders. For term loans from banks and credit unions (including SBA loans), the requirements to get approved are generally strict. Lines of credit can be short or long-term in nature, depending on your needs and creditworthiness.

Credit Unions 40

Credit Unions Credit Scoring Small Businesses 40

Abrigo

MARCH 10, 2025

Among the suggestions shared with banks and credit unions: Be ready for some CECL-specific questions during audits and exams, and document every allowance decision. Institutions must show evidence of robust governance, ongoing monitoring, and meaningful analysis of both quantitative and qualitative factors (Q factors).

CECL 78

CECL Actual Loss Credit Unions Post Audits 78

Abrigo

MARCH 13, 2024

How to respond to CRE loan distress Use these tips for banks and credit unions to identify and handle commercial real estate loans that are showing signs of being problem CRE credits. Would you like other articles like this in your inbox? Is the above scenario another pandemic akin to our recent COVID experience?

Credit Unions 88

Credit Unions CECL Default Credit Risk 88