Thursday, June 30, 2022  |  Caroline Vahrencamp

Deposit Strategies in the Face of Rising Rates

The Federal Open Market Committee has once again increased the federal funds target rate – for the third time this year. The increase was a full 75 basis points, increasing the target rate from 0.125 percent to 1.675 percent in only three months. That is the fastest increase since 1994, signaling the Fed’s determination to manage inflation more aggressively.

While rates have not yet passed the peak of 2018–19, the rapid increase is noteworthy.

Financial institutions with deposits now face intense pressure from accountholders to raise rates, yet the billions of excess liquidity that entered deposits during the pandemic can make institutions question the right approach to deposit rate management. What is a depository institution to do?

Thursday, May 26 , 2022  |  Karen Kislin, Strategic Advisor

The Cure for Workforce Corrosion: Culture Cultivation

Why are so many people quitting their jobs, and what can financial institutions do about it? According to the Bureau of Labor Statistics, more people quit their jobs in 2021 than ever before, and the first quarter of 2022 show no signs of this trend slowing down. Understanding the “Why?” behind the workforce leaving is the first step for organizations in solving how to reengage the workforce. Reducing the degree of attrition and fostering an engaged employee base is achievable when leadership takes action to nurture a culture of trust. 

Thursday, April 28, 2022  |  Helen Acke McComiskey

Financial Wellness: Just Words?

Money, lending money and borrowing money have historically been taboo discussion topics, but that should not be the case when it comes to a consumer’s financial institution.

Consumer financial wellness should be a top priority for financial institutions, but a lot of institutions merely pay lip service to the concept. What exactly does financial wellness mean anyway? Is that short-term financial wellness, long-term or somewhere in between?

Thursday, March 31, 2022  |  Caroline Vahrenkamp

Branch Self-Service Kiosks: Can Consumers Get Behind Them?

Rising personnel costs, the pandemic and the changing transaction environment are pushing financial institutions into considering branch self-service kiosks. Consumers are following suit, though maybe not in the ways you’d expect.

Thursday, February 24, 2022  |  Jody De Valk

Solar Energy as a Loan Product

What do you get when you have raising global awareness of dire environmental issues, a crumbling national power grid predicated on expensive and dwindling fossil fuels, and unpredictable weather patterns that put tremendous pressure on existing systems?

In the financial services space, that adds up to opportunity.

Thursday, February 10, 2022  |  Caroline Vahrenkamp

The Rise and Risks of Buy Now, Pay Later

Buy now, pay later (BNPL) programs have taken the country and world by storm, with balances expected to top $181 billion globally by 2022. The rapid rise represents both a threat and an opportunity for traditional lending institutions such as banks and credit unions, but moving into this space will bring its own unique set of risks, as well.

Thursday, January 27, 2022  | Jenny Armistead

Say Goodbye to Overdraft Fees: How to Plan to Protect Your Earnings

This is the time of year when we reflect on accomplishments, strengths and opportunities for improvement. The same is true for financial institutions. If we look back on the past two years, we see the only constant has been change. Those institutions looking to improve and thrive in this environment will be those that embrace change and can proactively prepare for challenges, with a focus on minimizing risk and leveraging opportunity. One of the biggest changes impacting the financial services industry is the evolving overdraft and nonsufficient funds (OD/NSF) fee landscape.

Thursday, January 13, 2022  | Marcus Rothaar

Emerging Trends in Small Business Banking

Over the past year, small businesses transitioned out of survival mode and into a more optimistic position. In our latest Raddon Research Insights survey, 63 percent of small businesses said they expect sales to increase over the prior year, and nearly half expect the economy to improve.

That’s not to say everything is back to “normal.” Challenges from the COVID-19 pandemic persist, with supply chain shortages and hiring difficulties topping a long and varied list of challenges cited by small businesses in our survey.

Thursday, December 16, 2021  | Megan Cummins

The New Value of Checking

Checking accounts are important to financial institutions for many reasons, and those reasons have shifted over time. Typically, financial institutions have valued checking accounts because: