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Financial services media outlets frequently look to Cornerstone subject matter experts for insights and analytics on current industry issues.

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credit unions

How credit unions gained some of the deposits banks lost

deposits. credit unions. Jun 1, 2023 "I don't see many [credit unions] changing their efforts on gaining bank deposits beyond what they have done in the past," said Vincent Hui, managing director at Cornerstone Advisors.

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What Do Credit Unions Need to Attract Millennials & Gen Z?

credit unions. May 31, 2023 Self-service machines free up branch employees to focus on providing financial guidance. In comparison to baby boomers and Gen X, millennials and Gen Z are more likely to go to their bank’s account managers when they need advice, a Cornerstone Advisors study found.

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Diversify, and then diversify some more

credit unions. May 29, 2023 Silicon Valley Bank's failure doesn't necessarily mean there is no longer a place for banks with a niche focus and strategy that sets them apart from others, said Al Dominick, a partner at Cornerstone Advisors. Investors still expect banks to figure out how to separate themselves from the pack.

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Fintechs expand AI auto-lending tool for credit unions

AI. financial institutions and fintechs. credit unions. May 22, 2023 Adopting tools for automation can require a certain level of trust from executives, said Daryl Jones, senior director at Cornerstone Advisors, and there can be a disconnect when "the behavioral side never gets changed to adopt the technology and allow for the efficiency and scale."

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Jack Henry Ready to Connect CUs to Upcoming FedNow RTP Network

Jack Henry. credit unions. May 18, 2023 Cornerstone Advisors’ “What’s Going On In Banking 2023” report stated that in a Q4 2022 survey of 300 community financial institution executives, 77% of credit unions said they had already implemented or planned to implement RTPs. Twelve percent said they had already launched the service, 30% planned to in 2023 and 35% planned to in 2024.

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Why Credit Unions Should Think Beyond the Branch

branch. credit unions. Apr 21, 2023 According to a 2021 Cornerstone Advisors survey of bank and credit union executives, the proportion who regard fintech partnerships as important for their institutions shot up from 49% in 2019 to 89% in 2021. These partnerships provide a level of digital functionality that allows smaller operations to compete with big banks and major financial institutions.

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The Silicon Valley Bank Collapse: Fear Mongering And Other Bad Takes

credit unions. Mar 20, 2023 According to a study from Cornerstone Advisors, the typical mid-sized bank has less than 5% of its customer following it on Twitter, which may lead bank management to ignore the social media channel in times of trouble. That’s a risk bank executives shouldn’t ignore.

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Why don't midsize credit unions want to grow through mergers?

mergers. credit unions. Mar 16, 2023 "There are bold leaders who will be open-minded about mergers," said Vincent Hui, managing director at Cornerstone Advisors. "The mergers of peers we've seen are a tribute to the thoughtful and collaborative boldness of the leadership of both institutions."

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How Credit Unions Can Capitalize On The Surge In Home Equity

credit unions. Mar 3, 2023 According to CUESolutions provider Cornerstone Advisors’ 2023 “What’s Going on in Banking” report, home equity loans are among the top lending priorities for credit unions, with 59% focused on home equity this year.

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Why Should Credit Unions Still Consider Crypto?

crypto currency. credit unions. Jan 18, 2023 A Cornerstone Advisors report showed that only 9% of credit union executives planned on offering cryptocurrency investing services in 2022.

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