Yes, totally free. And only for credit unions. 🚫 No banks allowed 🚫!
Did you know that Aux offers a resource library filled with credit union educational materials? Founded in 2017, the Aux University is your go-to place for credit union strategic and operational content, and suits a variety of employees, from executive level to beginner.
This might be our best kept secret, but not for long, because WE ARE SHOUTING IT FROM THE ROOFTOPS!
Now more than ever, digital learning is being embraced by industries around the globe, and we’ve felt for years that credit union educational resources were lacking. They were either:
- Not thorough enough
- Only available through a membership
- Not specific to credit unions
Four years ago we set out on a course to make high-quality, credit union-centric resources available for all. We now offer nearly two dozen resources in our library. Check out some of our recent works:
Avoiding Cracks in Your Accounting Foundation
Without proper auditing and internal controls, cracks can form in even the most solid, efficient accounting functions. Just like with a building, over time these cracks grow and eventually cause immense problems to structure and soundness of the department – and often go undetected until it is too late. In this whitepaper, we identify several key accounting spots prone to cracks, including:
- Effectively Tracking of Prepaids and Fixed Assets
- Balancing Official Checks against a Check Register
- Proper handling of ACH exceptions – specifically when information doesn’t match
- Tracking Accounts Payable and Invoices
- Accounting for premium amortization for loans purchased
- Timely reconciliation of all balance sheet GL accounts, handling outstanding items and balancing to source documents
Who is in Your Member’s Wallet?
On average, an American adult has over three financial institution relationships.
While most credit unions are aware of their multihoming member behavior, very few are leveraging their data to seek the coveted “top of wallet” position.
In this whitepaper written by guest contributor Anne Legg of Thrive, we’ll focus on these 3 data use cases and actions for your credit union:
- Re-acquisition, AKA putting money back in your member’s wallet
- Deepening product engagement by giving members more of what they want
- Identifying disruptors
Big City, Big Challenges
AFL-CIO Employees FCU is a $51M organization located in the heart of downtown Washington, D.C. n this case study, we will (1) dive into the challenges faced by a small credit union in today’s market, and (2) show how having a team of compliance experts for a fraction of the cost of just one in-house compliance manager allows AFL-CIO Employees FCU to remain financially-efficient and sound in turbulent times. Areas of focus Include:
- Staying viable as a small credit union by embracing the “gig” economy and outsourcing
- Utilizing turnkey, on-call experts who don’t require costly hiring, training, and benefits
- Allowing your decision-making team to focus on strategic tasks rather than tedious compliance functions
- Creating partnerships with your vendors, who act as an extension of your team