Posted by Mrs. Cheryl Sayers, Director of Training Remote Transaction Resources, Credit Union Resources, Inc on 7/19/2017

According to Webster’s Dictionary procrastination is; to be slow or late about doing something that should be done: to delay doing something until a later time because you do not want to do it, because you are lazy, etc.

We have all at some time throughout our lives faced procrastination.  As kids you might have; put off cleaning your room, doing homework, or doing your chores until the very last minute.  You may have put off the task for so long your parents gave you an ultimatum and that generally was worse than the original task.  You just didn’t want to do the task you were told to at the time you were told to do it.  Or you didn’t want to do the task at all.  As a child or teenager you more than likely would rather have been; outside playing, watching movies, or checking out the latest video game.

An example of procrastination as an adult.  You pay your auto and home insurance renewal and realize this is the third time the rates have gone up.  You tell yourself you need to look at your options with the same company or possibly move to another insurance company.  You end up telling yourself; “I’ll get to it tomorrow.  The renewal isn’t due again for a couple of months”.  The next thing you know the renewal is due next week and you really don’t have time to compare companies and rates.  So you just pay the higher fee again and say you’ll get to it later.  No one likes the task of shopping for insurance.  However, there are ways of tackling this and other chores/tasks you may be procrastinating about doing. 

Think of the task at hand.  Get everything out of your head; the details, put these down on paper, (or notes in your iPhone, Tablet, or computer).  Describe the task at hand and brake it into manageable segments.  You may realize after doing this the task is not as overwhelming or intimidating as you originally made it up to be. 

  • What are the top 5 rated auto and home insurance companies?  Google, Yelp, or try an app that can provide this for your area.
  • Ask your friends and coworkers if they have a company they prefer.  
  • What are you able to afford with your budget?
  • Do these insurance companies have different tiers of service depending on your needs? 
    • Two adults or two adults and children at what age?
    • Do you smoke?
    • How close are you to a fire hydrant in your neighborhood?
    • How far do you drive to and from work each day?
    • Have you had any recent tickets that could impact your auto insurance?
    • Have you had any recent home owner’s insurance claims?
    • What are you able to afford to pay for the deductible?
    • Would they provide you with a rental car after an accident?

You don’t swallow a meal all at once.  Otherwise, you’d get a sour stomach!  So…..take on large, intimidating, or overwhelming projects one bite at a time.  You feel better about getting the task completed and in this case you may end up saving money!

Some things to keep mind; Do the thing you are thinking about!  Get up and get it done!  Stop thinking and start doing is what I have heard!  By doing what you are putting off you can clear your mind and stop feeling guilty about not getting the task completed.  You will sleep better and feel better over-all!  Being productive puts you in a better state of being.  Get rid of the things that make up these road blocks preventing you from achieving your goal.  Move on…... 

Resources related to procrastination;

Part 3; Laziness begets laziness…… breaking the cycle. What is the two minute rule and how does it work?

Categories: Education & Training, Financial & Auditing, Human Resources
Posted by Mr. Idrees Rafiq, Jr., AVP IT Consulting, Credit Union Resources, Inc on 7/18/2017

The barrage of viruses continue with WannaCry and Petya making a world-wide impact. The latest stream of ransomware and viruses don’t discriminate as they impact many industries and people around the world. A reminder that we are all vulnerable and that cyber criminals are just a step ahead. Understanding what happened in these cases are important to keep up with their tactics and adjust accordingly.

By now you know the simple rule of don’t use ‘password’ as your password. Just behind this advice, is update your software. If you keep up with your patches, good for you, but now, it turns out the patch was the culprit of delivering the Petya virus.

The publication Wired reported that:

“Security researchers at ESET and Cisco's Talos division have both published detailed analyses of how hackers penetrated the network of the small Ukrainian software firm MeDoc, which sells a piece of accounting software that's used by roughly 80-percent of Ukrainian businesses. By injecting a tweaked version of a file into updates of the software, they were able to start spreading backdoored versions of MeDoc software as early as April of this year that were then used in late June to inject the ransomware known Petya (or NotPetya or Nyetya) that spread through victims' networks from that initial MeDoc entrypoint. This disrupted networks from pharma giant Merck to shipping firm Maersk to Ukrainian electric utilities like Kyivenergo and Ukrenergo.”….

“One reason hackers are turning to software updates as an inroad into vulnerable computers may be the growing use of "whitelisting" as a security measure, says Matthew Green, a security-focused computer science professor at John Hopkins University. Whitelisting strictly limits what can be installed on a computer to only approved programs, forcing resourceful hackers to hijack those whitelisted programs rather than install their own. "As weak points get closed up on the company side, they’ll go after suppliers," says Green. "We don't have many defenses against this. When you download an application, you trust it."

The worst reaction your credit union can have right now is say, ‘Great, now we aren’t going to patch”. Patching is still critical, and safe for Windows, Cisco, Java, etc. the reason for this is because these developers use codesigning. This makes tampering with the update significantly more difficult.

So as technology continues to evolve, so does our due diligence over vendors. Perhaps adding confirmation that your data processor’s updates are codesigned may not be a bad idea. 

Feel free to contact me directly ( if you would like help determining if your credit union is taking proper proactive security measures, ensuring you will satisfy examiners, or not wasting money on needless testing.

Categories: Technology Consulting & Compliance
Posted by Mr. Doug Foister, Vice President of Research, Cornerstone Credit Union League on 7/17/2017

S & P Global Market Intelligence recently polled 450 small businesses that had taken out a loan in 2016. The research identified the primary reasons the small businesses chose the lenders they did and how they initiated their loan application process. The findings confirm that, while the digital revolution continues to alter the lending paradigm in profound ways, lending relationships and physical branches remain extremely important to small business borrowers.

The researchers remind us that as e-document signing and online identity verification continue to progress, more and more lenders will adopt a fully digital process. And the survey verifies this matters to borrowers. As you can see, fully one-fourth of the respondents identify a convenient application process as a primary factor in their selection of a particular lender, while another 17% cite speed of funding.

Still, the evidence points to a prior relationship with the lender as the most influential factor, with over six out of ten citing this as a main reason for choosing their lenders. Also important to note is that positive word of mouth and brand image are significant determinants of borrower choice; 44% of respondents cite positive online reviews or a recommendation from someone else, and 25% attribute their decision to the brand name of their lender.

While relationship emerges as the single most important factor in choosing a borrower, other functional aspects of the loan process are also strong considerations: competitive rates is a primary reason for 35%, flexible terms or repayment options for 27%, and the ability to obtain a larger loan for 16%.

Importantly, a majority of the small businesses (62%) started their loan application process by visiting a branch location in person. Online applications comprised the next most popular method of applying, with 28% using this channel to initiate their application. The clear implication of this aspect of the research is that if financial institutions, including credit unions, want to stay ahead of the curve, they will likely discover that both branches and digital channels are integral to successful lending. 



Categories: Marketing & Printing, Research
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