CUs get budgeting tips in NCUA webinar
Aug. 14, 2013 – NCUA provided an overview of important budgeting concerns for credit unions in a free webinar hosted Tuesday by the agency’s Office of Small Credit Union Initiatives.
Vanessa Lowe, an NCUA economic development specialist, and Katia Marini-Nunez, director of St. Francis FCU, discussed how credit unions can develop good budget estimates by analyzing historic budget data and using that in their planning. The credit union’s plan should address how to reduce expenses and generate revenue, they said.
The two also provided an overview of how to find the credit union’s financial performance report on NCUA’s website and how to analyze the data it contains. The program also addressed marketing, including the use of technology and social media.
A survey of webinar participants produced the following findings on credit unions’ use of various marketing platforms:
- 54 percent use bulletin board postings;
- 77 percent use statement stuffers;
- 86 percent use website ads and notices;
- 59 percent use email;
- 27 percent use social media.
OSCUI is planning a two-part webinar series Sept. 17 and 25 on small-business lending. Monthly webinars are also scheduled for the rest of the year, the speakers said.